it's all fanny, freddie and federalgencys so i think it's a fair question. are we setting the bar so low here that you trip and you can still get over that bar. >> warner: josh boak, these packages haven't been a secret. why are we seeing the outrage on the hill now? >> i think we're seeing it for two reasons. one, voters are upset and fed up freedom the tea party movement to occupy wall street see a high degree of inequality and that's reflected with what's going on with fannie and freddie. >> pelley: in other words wshgsz all c.e.o.s. >> not just that but everyone seems to be performing above average. they're getting rewarded for less than stellar returns and that fuels the degree of unfairness in the minds of many. >> warner: go back to the question of the role they're playing because this came up at the republican debate last week z. one of the candidate, michele bachmann, was talking about the need to wind them down, that before the meltdown fannie and freddie were only underwriting or financing 50% of the mortgages in america and now it's 90%. is that

fanny and freddie lose money as a result of decisions they made years ago. the loans they've been dealing with since 2009 are of much higher credit quality and there's concerns they've overcorrected and it's hurting the housing economy and the pendulum has swung the other way. so at a time when you have all these foreclosures coming on to the markets at a time when you need more buyers you have fewer. >> warner: well nick timiraos from the "wall street journal" and josh boak from politico, thank you. >> thank you. >> suarez: now, the second of two stories on increasing access to dental care. last night, "newshour" health correspondent betty ann bowser looked at problems of costs, coverage and access. tonight, she examines one program in alaska, which has been met with both praise and skepticism. >> reporter: from the air, you can see the isolation. toksook bay, a tiny village of about 500 people on the edge of the bering sea in southwest alaska. right now, the native alaskan yupik people who populate the area are busy braiding fresh tomcod fish with dried gr

taxpayers who spent one hundred seventy billion dollars to rescue fannie mae and freddie mac. in the most expensive bailout of the financial crisis and the deficit commission the so-called super committee has a week to come up with a deal to downsize the deficit by one point five trillion bucks over a decade now the mainstream media has already been counting down to what exactly even if this deficit commission gets a deal it is barely a dent in the fifteen brilliant dollars debt load already racked up by the u.s. we'll take a look at what this all means let's get to the day's capital account. ok we have been talking a lot about the eurozone debt crisis lately so we thought what about the debt problems brewing right under our nose here and washington's should we give you a closer look at those because the u.s. is own public debt to g.d.p. ratio is now one hundred percent france and spain for comparison have lowered debt to g.d.p. ratios now the super committee of course has been tasked with downsizing the u.s. deficit they're trying to get it down by one point five trillion dol

compared to the exposure that freddie mac and fannie mae have? >> i appreciate the question, but that is something, given that i'm in a litigation, it is impossible for me to answer. we are seeking to recover appropriate funds. >> thank you. right now, the fhfa is funded through the fields -- through the fees that the tse has received -- that the gsc has received. you would need considerable staffing up to fill the space. under this bill, how would you fond the gsc's? >> i'm not sure there would be gsc's. it is not determined in this bill. that would be something that would have to be figured out. >> is it a gap or a tavern? a small gap or a significant thing? >> for me, it is a significant thing because i want to know where the funds are coming from. >> how much as a cause right now? >> our budget today is on the order of $180 million. i am being told it is probably less than that. but we are funded to assessments on freddie mac and fannie mae but also on the 12 main banks. >> thank you. right now, the investors in fannie mae and freddie mac sec

fannie mae's 10k filing states that credit. [applause] s were actually -- credit losses were actually low or than expected in 2010. that sounds like good news. however, the reason for these lower credit losses is that many services were caught up in the robo-signing scandal and were forced to halt their foreclosures during the fourth quarter of 2010. mr. demarco, how can you take credit for fewer losses if they resulted from the robo-signing scandal? and that's not a basis for bonus, is it? >> i don't thinkman, the -- congressman, the performance over the last year that was better than fhfa had project inside a published report in october 2010 is reflective only in part by delays in foreclosure. it, in fact, reflects that we have had better performance of underwater mortgages than had been projected. we've had a before better perfoe of loan modifications and other alternatives than had been projected. so, in fact, i think it's reflective of the fact that the steps that have been taken at these companies are actually bearing fru

we continue to have a mortgage market is outside the fannie freddie realm. and certainly looking, looking i just recently but back at past -- past history to suggest some more the order of three aides to have a percentage point greater on mortgage rates. but those borrowers also reflect a different critical while it is not just -- >> same credit profile because they were talking to 75 basis points. what does it do to the value of homes in this country if, for the vast majority of buyers, the interest rate is three quarters of a point higher than it would be otherwise? >> i don't have an immediate answer for you on that, mr. sherman. certainly there's a connection between mortgage interest rates and house prices, and i would say that the incredible subsidization, you know, over long period of time to fannie and freddie affecting mortgage interest rates have been capitalized in the fight of homes, inflating those values. >> do you have any evidence or studies that would disagree with what i see, which would be a another 15-20% decline in the value of our? >> i

next up, fannie and freddie and those big executive bonuses. how can you get back pain relief that lasts up to 16 hours? with thermacare heatwraps. that's 8 hours while you wear it, plus an additional 8 hours of relief after you take it off. can your patch say that? for up to 16 hours of relief... try thermacare. ♪ [ gong ] strawberry banana! [ male announcer ] for a smoothie with real fruit plus veggie nutrition new v8 v-fusion smoothie. could've had a v8. >>> i'm mystified as to why the so-called achievements should entitle executives to million-dollar bonuses. and they either have nothing to do with the actions of fannie and freddie, or they appear to reward a continuing downward spiral in our housing market. >> i am trying to encourage the people to stay and continue to mitigate losses, and keep the current infrastructure of the country's finance system operating. >> bret: an interesting hearing today on capitol hill. we heard from chairman issa earlier talking about the fannie and freddie receiving bonuses, despite both mortgage lenders

initiative where their goal was to redirect the efforts of fannie and freddie. at low income people. the criticism was. >> people would have trouble paying the bills. >> too much middle income. >> andrew cuomo the secretary of hud told them waive your down payment requirements. don't require money down. don't require income verification. and subsidize interest rate. >> bill: give them the mortgage and if they get in trouble help them with it that's why they build up, build up. >> it wasn't a question of helping them with it give it to them for basically nothing down. if he they fall behind in the interest payments, the inflation and the value of the home will take care of it they can always tell it and make a profit and move on. it was never designed for a static or declining market. >> bill: that's why it collapsed. >> then the government had to bail it out. >> then what fannie mae did bread this virus in a petrie dish and then they spread it all over wall street and the world by security advertising the mortgages and say you buy a slice. you buy a slice. so ev

>> we have a mortgage fraud reporting regime that fannie and freddie mack have. there's a great deal of reporting that is done, and they will oftentimes come back to us and ask for additional information or guidance and interpret it, and we provide that. >> thank you. i think last time we heard the defense for the fannie and freddie were in excess of $162 million. can you give us an updated number now? >> not off the top of my head. i'll be happy to provide it in writing. given the pace of this, i doubt it's changed much since my last appearance. >> i understand a court ordered one of the executives to repay bonuses that were apparently received and not deserved? could that be viewed as any type of adjudication of guilt and maybe a reason for the american taxpayers to stop paying the defense fees of these crooks? >> i'm sorry, i'm not aware of the particular issues or circumstance that you just described, so i would have to find out exactly what ruling was made that you're referring to and then have to assess that. i'm not aware of the top of my head what you're

fannie mae says the average return to fannie mae this year on foreclosed properties is 55% of unpaid principal balance. you will lose 55% of the foreclosed properties. if that is the case and would only lose, say, 5% in april to a reduction program, why not lose that to keep the buyer and a home? >> the analyst went through this at fannie and freddie and looked at the alternative programs available and we have concluded that the use of principal reduction within the context of a loan modification is not going to be the least-cost approach for the taxpayer to allow them to stay in their home. we are using aggressive activities that include principal forbearance, which will 0 the interest rate charged on the underwater portion of the mortgage without lowering the debt of the mortgage. that has been the basic oculus that has guided this decision. -- the basic calculus that has guided this divisiodecision. we are supposed to undertake our loss mitigation activities with regard to the taxpayer. >> by you have been empowered as concert riggers to have the fiduciary responsibility of vaccin

that is the kind of thing, abuse that has gone on at freddie and fannie for years. it hasn't stopped post-conservatorship. >> bret: both firms have drawn $170 billion from the taxpayers since conservatorship since 2008. they're requesting $13 billion to $14 billion. what the hope of getting one to stop, the executive compensation. is there a hope? >> they are both negative and chances over a decade or more they would be able to pay true interest on more than $200 billion they will owe by the time they stop bleeding red ink. if we are lucky, we could see solvent mortgage market and one we don't have to continue funding. $13 billion this quarter of new money. they don't know what to do with the homes they're unwilling to sell or rent. they were proud they rented 10,000 homes out of 1 million in foreclosure. as though that was a success. if you can have the conservator to pay to supervisor them maybe you can run them better than bonus. >> we asked them to come back and tell them what impediments were to do their job faster or get the homes back to compliance or liquida

fannie mae's second quarter credit supplement says the average return for fannie mae this year on foreclosed properties is 55% of unpaid principal balance. you lose 45% of the foreclosed property. if that is the case, but you would only lose 5% of the principal reduction program, why not reduce the principal and keep the borrowers in their homes. >> we have been through the analytics of the underwater bar wars and with that the alternative -- the foreclosure alternative programs that are available. we have concluded that the use of a principal reduction within the context of a loan modification is not going to be the least cost approach for the taxpayer to allow this homeowner an opportunity to stay in their home. we are using aggressively loan modification activities that include principal forbearance, which will zero out the interest rate charge on the underwater portion of the mortgage without forgiving the debt of the mortgage, and this is all designed to get the bar were into an affordable monthly payments so that they can continue in their home. that has been the basic calculus that ha

taxpayers have spent almost $170 billion to rescue fannie and freddie. ben is here from the financial quarterly. tell me, why does the person who this -- demarco think that these bone useses should be paid out? >> hi, greta. thanks for having me here. you know, edward demarco says the way to get talented executives running fannie and freddie is to give generous compensation. they're tasked with maintaining and conserving the taxpayer dollars, some $5 trillion in mortgage assets and the way to do that, he says, is to attracts talented folks with high compensation packages. >> does he mention anything about the fact that this last quarter they lost $6 billion and the same quarter a year ago, it was $1.4 billion, so there is a downward trend in terms of their success? >> that's a good point. i haven't heard him say that. the thing to remember is that these losses that fannie and freddie are coming up with are largely bad loans that were made before the financial crisis back in 2008. so we might be seeing losses from fannie and freddie for sometime to come.

williams, what you will fannie have repay the treasury? >> congressman, as you know with a 10% dividend on the amount that is drawn will never fully be able to pay back the amount that is due to the treasury. this is why the director has highlighted the need to move forward. >> mr. demarco, what year will be gses be able to repay the taxpayers for this extraordinary support? >> i do not believe they would be -- they will repay the taxpayers. >> ever? >> well, unless we keep this conservatorship going, to my children and beyond, know. i would hope that conservatorships and before then. >> okay. at what point, mr. haldeman wouldn't venture a guess, but at what point will freddie be able to repay the extraordinary support? >> mr. chairman, i don't believe either company will repay the ex ord and support involved. >> i said that before. i just, i look at the current financials of the company, the fact that we are shrinking the retained for those of the company, looking at expenses that are there including the dividend, which is paid to the tre

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. >>> also, your tax dollars saved fanny fr fannie mae and freddie mac. so why are millions being dolled out? and rick perry making david letterman's top ten. perry delivers this about himself. we're going to show you. stay here. [ gong ] strawberry banana! [ male announcer ] for a smoothie with real fruit plus veggie nutrition new v8 v-fusion smoothie. could've had a v8. i tell you what i can spend. i do my best to make it work. i'm back on the road safely. and i saved you money on brakes. that's personal pricing. >>> and if it's interesting, it's happening right now. you're about to see it. rapid fire, let's go. beginning with breaking news out of mexico, the country's interior minister has been killed. he was on board a helicopter that crashed today south of the capital of mexico city. two other ministry officials were among the nine people who died in this crash. there were no survivors. by the way, interior minister, blake mora, led the nation led against drug cartels. >>> president obama marking this day. veterans day. by taking part in a wreath lay

fanny and freddie own half of all mortgages. taxpayers had to bail out both companies and wyatt andrews tell us that's why executives were feeling the heat on capitol hill. >> reporter: if anything could draw bipartisan anger in congress, this was it. huge paychecks and bonuses for top executives at fannie mae and freddie mac when those two agencies combined have cost taxpayers $169 billion with the losses still mounting. the two c.e.o.s who faced the heat, fannie's michael williams and freddie's charles haldeman, earned $9.3 million and $7.8 million over two years, which gives them, republican darrell issa said, the best taxpayer-financed jobs ever. >> you made $9.3 million in the last two years. well, the president made $800,000. you think that's okay? >> reporter: democrats railed that those million-dollar payouts could have helped more americans keep their homes. congressman town. >> then you look at these sal expreez one would say, wait a minute. why don't we take this salary and save a whole block. >> reporter: haldeman of

we are trying as concern over to fannie and freddie -- as conservator to fannie and freddie to make sure that there is recovery in the secondary mortgage market, to make sure that they take all necessary action to assist borrowers in troubled mortgages, and that the $5 trillion in mortgages that the american taxpayer is now supporting are being overseen and managed by competent professionals who can prudently manage the risk of such an enormous portfolio. as i said that the outset and in my written statement, it is not our goal to keep this going. we're looking forward to working with the congress of the u.s. to get on with the artwork that would bring in the conservatorship see themselves to an end -- with the hard work that would bring the conservatorships themselves to an end. >> i would encourage you to work on finance reform. the doctor is reddick dunst for five minutes. -- is recognized for five minutes. >> mr. williams, you are the ceo of fannie mae, correct? >> correct. >> you think the enterprise is succeeding and doing well? >> we have been giving -- been given some very challe

his latest shoot himself in the foot moment, dionizing democrats for menning fannie mae and freddie mac when he was taking $2 million for advising it for winning over republican conservatives on capitol hill. and whom he sweetly said should go to jail joins us. plus, a distorting lie. desperate to save his campaign, rick perry has reverted to a distortion so serious it should whack him like a boomerang. what the president really said. >>> bad news for mitt romney, his health care bill bears no resemblance to obamas. the problem is there is no way to say that because there's the same blanking bill. jonathan gruber goes on to say, mitt, quote, is just laying. and we now know more about jerry sandusky. how allegedly he chose his victims as experts put it, groomed them for his purposes. we have the latest on that investigation. let me finish with what appears to be the exasperation of both of the country's most alive political moments. the tea party and the occupy wall street movement. we start with newt gingrich's hypocrisy. one has been barney frank who joins us now. congressman frank, it

they're the respective kroceos fannie mae and freddie mac. they back half of the mortgages in america. according to records from the securities and exchange commission, williams and halderman made $900,000 in salary last year. and each is getting paid about $2 million if bonuses. earlier this year the federal government approved nearly $13 million in bonuses for williams, halderman and eight other executives from the two firms. despite the fact that millions of americans are still struggling to make it through the housing crisis and fannie and freddie have been hemorrhaging cash this year. th they lost $10 billion in the first quarter and just asked congress for more money. >> this is uncalled for. >> reporter: john thune is spearheading an effort to cancel the bonuses. they sent a letter it the government body that oversees fannie and freddie, the federal housing finance agency, asking it to revise the policy. the fhfa approved the bonuses. >> why would you be rewarding this kind of behavior and/or this performance at least in a time when we

fanny and freddie own half of all mortgages. taxpayers had to bail out both companies and wyatt andrews tell us that's why executives were feeling the heat on capitol hill. >> reporter: if anything could draw bipartisan anger in congress, this was it. huge paychecks and bonuses for top executives at fannie mae and freddie mac when those two agencies combined have cost taxpayers $169 billion with the losses still mounting. the two c.e.o.s who faced the heat, fannie's michael williams and freddie's charles haldeman, earned $9.3 million and $7.8 million over two years, which gives them, republican darrell issa said, the best taxpayer- financed jobs ever. >> you made $9.3 million in the last two years. while, the president made $800,000. you think that's okay? >> reporter: democrats railed that those million-dollar payouts could have helped more americans keep their homes. congressman adolfus towns: >> then you look at these salaries and one would say, wait a minute. why don't we take this salary and save a whole block? >> reporter:

and fannie and freddie. fox all-stars join me after the break. >> bret: there are so many roads and bridges and runways waiting to be repaired and rebuilt. >> last week, we had an intersize on the senate floor -- exercise on the senate floor over infrastructure. i use the word exercise because that's what it was. a political exercise. essentially designed to fail. well, this is a jobs bill. this is an infrastructure bill, which is designed to succeed and can succeed. >> bret: you saw in that report from jim angle burst of bipartisan on capitol hill today. infrastructure bill passing a senate committee. unanimously to prepare the nation's infrastructure. compare it to the president's push for his bill that failed. the president talked about that on the campaign trail out and about. talk about this. and cutting spending in different ways on capitol hill in washington. the panel, juan williams, columnist with hill. mary kathryn hamm of daily caller and syndicated columnist charles krauthammer. charles, bipartis

breaking up fannie mae and freddie mac. >> reporter: gingrich says fannie and freddie made so many bad loans tied to the financial meltdown that democrats who took donations from the companies should face prison. >> you ought to start with barney frank and chris dodd and let's look at the politicians who created the environment, the politicians who profited from the environment and the politicians who put this country in trouble. >> reporter: but it turns out gingrich himself was on the freddie mac payroll in the years leading up to the meltdown. from 1999 shortly after gingrich resigned as speaker into 2008, the year of the meltdown, gingrich and his consulting firm earned at least $1.6 million in freddie mac fees. when first asked what he did for freddie, he described his role as a historian and claimed he had advised the company to stop the risky loans. >> i offered them advise on precisely what they didn't do. i said to them at the time this is a bubble. this is insane. >> reporter: but two sources with knowledge of gingrich's contracts said he was hired for his inside knowledge of

his latest shoot himself in the foot moment demonizing democrats for helping fannie mae and freddie mac at the same time he was taking nearly $2 million from freddie to advise it on winning over republican conservatives on capitol hill. barney frank whom gingrich sweetly said should to go jail joins us now on newt's serial hypocrisy. plus a distorting lie. desperate to save his campaign rick perry with other republicans has reverted to a distortion so obvious it should whack him like a bommerang. we'll go to the videotape to show you the distorting lie and what the president really said. also, bad news for mitt romney. who is peddling the empty case that his health care bill up in massachusetts bears no resemblance to president obama's. the m.i.t. professor who advised both romney and the white house says, quote, the problem is, there is no way to say that because they're samt blanking bill. jonathan gruber goes on to say that mitt, quote, is just lying. and we now know more about jerry sandusky. his alleged -- how allegedly he chose his victims as experts put it, groomed them for his p

how is the salary of fannie and freddie ceos and executives figured? >> the standards that will be your lives will be of comparability as there are other entities that will be currently paid under this schedule, the schedule being the federal institutions reconstruction reform enforcement act. and they compare salaries in setting their salaries. >> you have an example of what some of these other entities then are paid? >> i can tell you that the maximum that is being paid is $255,000. currently the fdic is that about 162000, nine. the ncaa chairperson makes about 162, nine. the general counsel for the ncua makes about 265 council. so it puts them all in the 200,000 plus range. >> thank you. i yield back. >> ms. slaughter? >> thank you very much. i just want to be clear about how we are perceived in your. i support mr. green's amendment. however, it appears that we take a look at page seven of the bill, line 15, relationship of executive compensation to profitability, and make a determination of the compensation of an executive officer of an enterprise

fannie and freddie took 1p 0 -- so far, took $170 billion. the interesting part of dodd-frank is fannie and freddie were left out of dodd-frank conveniently because it's a government sponsored enterprise. in other words, obama can do the games, home loan, student loan and throw them to fannie and freddie and they won't be subject to overwhelming regulation. >> bob: why do you think dodd-frank went after bank of america and these are hidden fees? you know when they send out the credit cards and say zero interest? the key, if it's not zero it's 29.9. if you don't pay it exactly the day you're supposed to pay it. there are all kind of things they keep hidden in the small print. the banks have been ripping people off relentlessly for years. >> greg: they got to make money. somehow they got to make money. $5 a month is 15 cents a day. most people send $5 every morning at starbucks. saying what durbin says this is proof that the free market works. who needs proof? we won the cold war. saying yeah, communism is dead. enough with the proof that free

and this is almost like freddie and fanny. the same theory is in mind that the federal government will spend taxpayer dollars for the greater good, all right, to advance an agenda. in one case it's getting homes in the hands of workers. in the other case getting alternative fuels. in the meantime, 80% of the loans, according to this book, and it hasn't been challenged factually. >> i will challenge it. >> bill: have been given to people who raise money for barack obama. >> i will challenge it i will tell you where he is. he has an agenda. is he a conservative. funded by the oil companies anyway. these are not loans. the program is he talking about are loan guarantees. they are different than loans. mischaracterized. >> bill: we are quibbling. >> not quibbling. loans are giving people money. loan guarantees are guaranteeing the loan. that's the difference. not quibbling. factually incorrect. >> bill: if the loan is forget fitted, who has to pay. >> wait a minute. if the loan is solyndra, solyndra. >> if they have to pay. >> bil

during that period, he never moved anything to restrain fannie mae and freddie mac. his fellow republicans continued to control fannie mae and freddie mac until the end of the 2006. george bush tried to get congress to do something about fannie mae and freddie mac, although he was contradictory there and the republicans refused. nothing happened to restrain those two entities from doing things they shouldn't have been doing until chris dodd became chair of the committee. if you read the book by bush's secretary of the treasury, hank paulson, he acknowledges that we were the ones who work for him and put it into conservatorship. and the one who now runs it says once we did that, we the democrats, there have been no losses since then. as to mr. gingrich, the notion that he was being paid $1.6 million for history is ludicrous. by the way, he refutes that himself when he said i got that money because i had been speaker of the house. i do not believe that having been speaker of the house has ever been held to enhance your credentials as an historian. if it enhances yourÃ