the default rate for the perkins loan is higher than the stafford loan, the direct loan. the bill which the senator from wisconsin has offered would cost taxpayers, according to the congressional budget office, $900 million for a two-year extension. if we were to extend the program over ten years, it would costs dz 6-point -- $6.5 billion according to the congressional budget office. and the bill does not have an offset so these billions of dollars would only serve to add to the $20 trillion federal debt that we already have. i object because i think it is time for our country, through legislation by this congress, to move on to a simplified federal student aid programne federal lr students, one federal grant for students, and one work study program for students. and as i have spoken often about on this floor, along with senator bennet from colorado, weed like to -- we would like to reduce the federal application form, called f.s.a., we would like to reduce that from 180 questions to two or five or ten questions. so we need a much simpler program and the end of the perk i

if you look at high-yield, the loan rate is up 7.5%, but the rest of the high-yield market is sub 2%. i think these are localized issues. it is not endemic. jonathan: let's talk about a price. we can overlay the bloomberg high-yield index with high-yield energy and high-yield retail. there is quite a spread, 100 issues. it is not endemic. basis points over the benchmark, 200 basis points over retail. but it did interest me that those two things are rolling over, getting tighter over the last month. greg says the price is justified. is what you are seeing on the screen justified? colin: i agree with greg. i think the market is fairly priced. as greg pointed out, you have some circumstances where maybe we have gone tighter than some believe in some sectors, but the bottom line is there is still a hunt for yield and still a reason to be confident in high-yield. i think the prices are fair, and i actually think spreads will tighten from here. jonathan: the price is fair, is conviction high? colin: conviction is not that high. that is probably the tougher spot and the better question. i th

if you look at high-yield, the loan rate is up 7.5%, but the rest of the high-yield market is up 2%. i think these are localized issues. it is not endemic. jonathan: let's talk about a price. we can overlay the bloomberg high-yield index with high-yield energy and high-yield retail. there is quite a spread, 100 basis energy over the benchmark, 200 basis points over retail. but it did interest me that those two things are rolling over, getting tighter over the last month. greg says the price is justified. is what you are seeing on the screen justified? colin: i agree with greg. i think the market is fairly priced. as greg pointed out, you have some circumstances where maybe we have gone tighter than where -- than some believe in some sectors, but the bottom line is there is still a hunt for yield and still a reason to be confident in high-yield. i think the prices are fair, and i actually think spreads will tighten from here. jonathan: the price is fair, is conviction high? colin: conviction is not that high. that is probably the tougher spot and the better question. i think there is

rachel: collateralized loan obligations. the bank loans have a floating rate. tom: is it a floating rate? rachel the bank loans have a : floating rate. tom: we have jim keenan. explain floating-rate versus fixed-rate, and why you need to float now as you go into 2018? jim: it is around the duration risk or interest rate sensitivity. obviously fixed income has a , variability of rate risk associated to it. riskloans give you credit -- senior secured credit risk that are tied to the front end relative to what you would get in fixed income. i do think it is important -- the bank loans, the secured market is giving you a good risk-adjusted return profile. one of the things we did talk about before was the volatility has been low. but dispersion has still been high. whether you are looking at loans are high-yield or emerging markets, the underlying economy at low growth, there is still huge divergence between winners and losers. i think that is -- an important part whether you are looking at high yields or loans in having a balanced credit portfolio. tom: what is im

annual percentage rate. the payday loan from the money shot takes care of like that imagine. not hassle name calling brilliant that just make today my pay day come to the money shell. hundred pounds of. the visit money shop now for cash and bank account that was so simple. they just make it so we say in the a.p. oh my god look at the a.p.r. . now. imagine how many have to pay that. cost just. one thousand two hundred twenty three point six percent and you dissented right. through. well once i can turn twenty three point three. every hundred pound your brother your pride back. your drug. when i was working i actually know a man that got so badly in debt young him so. i should've remembered all that when i started getting into debt and i didn't because . you practice you get a gift and you patrick. and your fear bigger and your panic more and you panic more new panic. or has that stopped. growing get from the white there are people signing agreements for literally thousands of percent a.p.r. so what they're boring i'm paying back it's it's crazy really and it's caused a lot of

annual percentage rate. the payday loan from the money shot takes care of life there's no magic. no hassle to name. just make today my pay day come to the money shall swing two hundred pounds and no two. the visit money shot. that was so simple. they just make it so we say in the ip oh my god look at the a.p.r. . imagine how many of us applied. must have. one thousand two hundred twenty three point six percent i mean percentage right that's all right. well one so from two hundred twenty three point six percent now shrubbery every hundred pound you bought a. few five back. but just over a thousand pounds. it long shocking. when i was working. you know. it got so badly in getting. i should have remembered all that when i started getting into debt and i didn't because. you practice you get it and you panic and you just get bigger and you're panic more and you panic more you panic no. why has that. gone gift from the white there are people signing agreements for literally thousands of percent a.p.r. so what they're boring i'm paying back it's it's crazy really and it's caused a lot o

if you look at overall yield, the loan rate is up 7.5%, but the rest of the high-yield market is up 2%. i think these are localized issues. it is not endemic. jonathan: let's talk about a price. we can overlay the bloomberg high-yield index with high-yield energy and high-yield retail. there is quite a spread, 100 basis energy over the benchmark, 200 basis points over retail. but it did interest me that those two things are rolling over, getting tighter over the last month. greg says the price is justified. is what you are seeing on the screen justified? colin: i agree with greg. i think the market is fairly priced. as greg pointed out, you have some circumstances where maybe we have gone tighter than where -- than some believe in some sectors, but the bottom line is there is still a hunt for yield and still a reason to be confident in high-yield. i think the prices are fair, and i actually think spreads will tighten from here. jonathan: the price is fair, is conviction high? colin: conviction is not that high. that is probably the tougher spot and the better question. i think there is

annual percentage rate. the payday loan from the money shot takes care of life that imagine. not named. that just made today might come to the money shell. hundred pounds in no time visit money shop now for cash and bank account that was so simple. they just make it so we say in the a.p. oh my god look at the a.p.r. . imagine how many have to pay that. last. one thousand two hundred twenty three point six percent and you dissented right. well one so from two hundred twenty three point six percent now shrubbery every hundred pound you bought or you five back. but compared to. your gross. when i was working you know a man that got so badly in debt. and. i should have remembered all that when i started getting into debt and i didn't because. your parents who get it and you patrick. and your fear bigger and your panic more and you panic more new panic. or has that stopped. growing get from the white there are people signing agreements for literally thousands of percent a.p.r. so what they're boring i'm paying back it's it's crazy really and it's caused a lot of problems for a lot

also the interest rate, 6.1%. this is compounded interest. interest starts to become charged on the loan right from the moment you start your studies. if you work with people who have got student debt, it troubles them. one of my young colleagues was unable to find out how much she owed. she was told she owed nothing, then that she owed 2000. then it was three

a reduction of monthly payments either by extending the duration of the loan or by lowering the interest rates currently around one situation in three is deemed irremediably compromised with no prospect of improvement in such cases the debts are cancelled so that the person does not remain indefinitely in debt to offer them a second chance as it were a fresh start in life. some dream of taking this further and to collectively cancel debt in the spirit of the people you believe are the kings of mesopotamia who wiped all the tablets clean at regular intervals to bring back to the city those who had fled their creditors. it strikes me that if democracy is to mean anything if money is simply a series of promises we made to each other democracy means that everybody gets to weigh in on decision just a few central bankers who are not disinterested. so i think a jubilee would be a way of bringing home to people are solutions all problems but it would be a way of saying look we could have hit reset any time these aren't real things these are things that we agree with each other we could we could

i think regardless of whether they are trying to fish for votes, it is fair to say that the loan rates are causing quite a lot of grief. both my children went to university, and they have suffered with the debt. people leave university with massive debts, and invariably it is the pa rents debts, and invariably it is the parents who end up paying for it. there is a tendency to think it should be lower, or at least at market rate, but in some cases it is about 6%. in a sense it is like getting a bank loan, and that was never the intention. i think student fees should be scrapped but even if there is an argument that student fees should exist, they should be, as you say, zero rate interest or absolutely commercial rates, not credit card rates or loanshark rates. i know this from anecdotal evidence, the way that the loan companies deal with the students is really aggressive. and when you are a student, you should be enjoying the life of being a student. it is fairto the life of being a student. it is fair to say that students do get... the other side of the argument, of course, is that stu

annual percentage rate. of payday loan from the money shot takes care of like that imagine. not named. that just made today might come to the money shot. hundred pounds in no time visit money shop now for cash and bank account that was so simple. they just make you say we say in the a.p. oh my god look at the a.p.r. . imagine how many have to pay that. first. one thousand two hundred twenty three point six percent and sent it right. well one so than two hundred twenty three point six percent agree every hundred pound your brother you five back. but. you throw shocking. when i was working you know a man that got so badly. and. i should've remembered all that when i started getting into debt and i didn't because . your parents who get it and you patrick. and you get a bigger and you panic no and you panic mourn you panic no. why has that. gone gift from the white there are people signing agreements for literally thousands of percent a.p.r. so what they're boring and paying back it's it's crazy really and it's caused a lot of problems for a lot of people when you're in a crisis

also the interest rate, 6.1%. this is compounded interest. interest starts to become charged on the loan right from the moment you start your studies. if you work with people who have got student debt, it troubles them. one of my young colleagues was unable to find out how much she owed. she was told she owed nothing, then that she owed 2000. then it was three and a half thousand. it is not working, they need to sort it. just quickly, they need to sort it. just quickly, the observer. jeremy corbyn house to reunite a number of people in his party going forward. he says the observer is facing calls are cross the movement to commit to fall and permanent membership of the eu single market and the customs union. that is so that the labour party can offer a clear alternative to what is being offered by the tories and conservatives, and the government. thank you for taking us through the papers. you can see more you can see more of you can see more of the papers online. coming up next, it is meet the author. the english civil war, and a country gove

the rate will rise to 6.1%. the government insists the costs are split fairly twin graduates and the taxpayer, but at lord's question time some peers weren't so sure. at the end of three years, it's been estimated the average interest added at 6.1% will be £5,800. and as i put it to the minister, why is it that the government are determined to put stu d e nts the government are determined to put students into even more debt than they are now. why is rpi used as the rate of inflation when the government itself has rejected rpi when it comes to the issue of benefits and pensions, indeed it's only students and railway passengers who are actually penalised by the use of rpi. when is the government going to get real and review the rate of interest as a first stage towards reform of our university fee system ? well, my lords, the details of the scheme continue to be kept under review, but let me say, let me say that the student loan system is working well. the government reforms to the undergraduate student finance s

collateralized loan obligations. the bank loans have a floating rate. tom: we have jim keenan. explain floating-rate versus fixed-rate, and why you need to 2018?ow as you go into jim: it is around the duration risk. fixed income has a variability of rate risk associated with it. bank runs give you credit risk that are tagged to the front end relative to what you would get in fixed income. the bank loans, the secured market is giving you a good return profile. what we talked about before is the volatility has been low. whether you are looking at loans are high-yield or emerging markets, the underlying economy at low growth, there is still huge divergence between winners and losers. that is important in having a balanced credit portfolio. tom: what is important here is the exogenous shock. be exogenous to the certitude of the market? i think they can. i think under bernanke and yellen we have had a robust environment. bonds and equities have done well. the challenges because the global economy is doing decently and because it is likely you will see inflation in developed markets

now the loan estimate shows you your interest rate, the lenders' fees, along with appraisal fees, your title insurances, your closing costs, and details like if your interest rate's gonna change during the course of your loan. the closing document spells out all of the final costs: taxes and insurance, closing costs, all fees, how much each realtor is getting, and who is paying what, the buyer or the seller. borrowers now get this information three days in advance so nobody is surprised at the closing table like the past. if anything changes, like the interest rate or any fee charge, the borrowers can get another three days to review before the closing. the fha has made it possible for more underwater homeowners to refinance and made some other changes, as well. borrowers who use fha loans will likely save thousands at closing, but those monthly mortgage payments will be a little higher. in addition, borrowers with credit scores of less that 580 will have to put 10% down instead of 3.5%. up-front mortgage insurance premiums have also increased, and the loans need to be insured for the

interest rates on loans. ministers insist that the current tuition fees of more than £9,000 a year do provide sustainable funding for universities and fairness for students. our education editor, branwen jeffreys, has the story. canterbury saw history overturned this year. conservative for 100 years, the city elected a labour mp. student votes helped push through the change. labour promised to abolish tuition fees. ruth graduated last year. her debt‘s already £a0,000. i think the goal posts are changing. it's a huge fear for young people. the interest rates have just gone up from 4.1% to 6.1%, which is 2a times the bank of england base rate. i think that makes students feel really let down. they are concerned about the future of their loan. despite rising tuition fees, more young people are going to university. in 2012, the new £9000 fees in england lead to a slight dip. now they've reached 9250, with that interest rate of 6.1%. tonight, universities have called for ministers to listen more. they want a

rachel: collateralized loan obligations. the bank loans have a floating rate. tom: we have jim keenan. explain floating-rate versus fixed-rate, and why you need to flow now as you go into 2018? jim: it is around the duration risk. fixed income has a variability of rate risk associated with it. bank runs give you credit risk -- senior secured credit risk that are tied to the front end relative to what you would get in fixed income. i do think it is important -- the bank loans, the secured market is giving you a good risk-adjusted return profile. what we talked about before is the volatility has been low. but dispersion has been hyde. -- high. whether you are looking at loans are high-yield or emerging markets, the underlying economy at low growth, there is still huge divergence between winners and losers. i think that is -- an important part whether you are looking at high yields or loans in having a balanced credit portfolio. tom: what is important here is the exogenous shock. is chairman war she, chairman taylor, chairman hubbard, can they be an exogenous shoc

a reduction of monthly payments either by extending the duration of the loan or by lowering the interest rates currently around one situation in three is deemed irremediably compromised with no prospect of improvement in such cases the debts are cancelled so that the person does not remain indefinitely in debt to offer them a second chance as it were a fresh start in life. some dream of taking this further and to collectively cancel debt in the spirit of the people who believe are the kings of mesopotamia who wiped all the tablets clean at regular intervals to bring back to the city those who had fled their creditors. it strikes me that if democracy is the mean anything if money is simply a series of promises we made to each other democracy mean that everybody gets to weigh in on decision just a few central bankers who are not disinterested. so i think a jubilee would be a way of bringing home to people are solutions all problems but it would be a way of saying look we could have hit reset any time these aren't real things these are things that we agree with each other we could we could

a reduction of monthly payments either by extending the duration of the loan or by lowering the interest rates currently around one situation in three is deemed irremediably compromised with no prospect of improvement in such cases the debts are cancelled so that the person does not remain indefinitely in debt to offer them a second chance as it were a fresh start in life. some dream of taking this further and to collectively cancel debt in the spirit of the people believe are the kings of mesopotamia who wiped all the tablets clean at regular intervals to bring back to the city those who had fled their creditors. it strikes me that if democracy is to mean anything if money is simply a series of promises we made to each other democracy means that everybody gets to weigh in on decision just a few central bankers who are not disinterested. so i think a jubilee would be a way of bringing home to people are solutions all problems but it would be a way of saying look we could have hit reset any time these aren't real things these are things that we agree with each other we could we could do i

rate on loans is persuading universities to cut tuition fees. i think it is perfectly sad. i do think universities should be far more honest when they charge so much for courses. it is a lot of money and they should be more honest about the potential economic gain from their degrees because sometimes i don't think they have any... from your experience, what is the most economical and viable course? economics... i walked into bad one. . . economics... i walked into bad one... no, not economics. rational thinking, philosophy. the arts. the way to think. but here, let's also remember that the bravest students have revolted against the coalition and the tories and they put up tuition fees. it is very convenient to say oh, let's be in the university and are costing they get these. it was implemented by the coalition. and the poorest families are the ones who suffered, as ever. well, there we go. let's stay with the telegraph. we are going to north korea and there is a fear that iran had a hand in its creation. i have seen many had a hand in its creat

it says with the interest rate for student loans now at 6.1%, ministers need to listen more to graduates financial concerns. the government says tuition fees provide sustainable funding for universities and reflect graduates higher earnings. hurricane irma has been reclassified as an extremely dangerous category five storm, which is heading towards the caribbean and the southern united states. louise learfrom the bbc weather centre is here to tell us more. yes, hot on the heels of hurricane harvey we have another major hurricane which is bearing down on the caribbean. irma, scene from the cock pit of a play over the caribbean, has been moving west over the atlantic and has intensified to a category five storm today. sustained winds are already reaching 185 mph, with higher gusts. to put this into context, when it made la ndfall last this into context, when it made landfall last month in texas the winds were about 130 mph so we are dealing with a potentially catastrophic storm. irma is expected to make landfall during the early hours of wednesday morning, uk time, in places like antigua i

it says with the interest rate for student loans now at 6.1%, ministers need to listen more to graduates financial concerns. the government says tuition fees provide sustainable funding for universities and reflect graduates higher earnings. time now for all the sports news in sport today. hello, i'm nick marshall—mccormack and this is sport today, live from the bbc sport centre. coming up on the show: ecstatic scenes in syria as the country sets up a world cup qualification playoff with australia. busta busts—a—move — pablo carreno reaches the us open semi—finals for the first time. and a comeback queen in queens, sloane stephens keeps the home fans happy by advancing to the semis too. hi there wherever you are around the world, welcome to sport today. more on syria's heroics to come. first though — saudi arabia are through to the world cup in russia. they are the first arabic nation at football's showpiece event since 2006. the saudisjoin iran, japan, south korea, brazil, mexico, belgium and hosts russia in the 32—team tournament.

rate environment and how the impact of evaluation of equities, loans, real estate, and it is clear in the current environment we have very regularly warned for that. the low interest rate environment creates risks in terms of over evaluation. of very us asset classes in the security market. nejra: let's talk about transparency to unbundling research from trading commissions. i understand the logic behind this. but if research is for example paid for or generated by asset managers or hedge funds in house, isn't there more of a risk they might have access to information that others don't? steven: one of the prime reasons for separating research from execution is to get to a system where there is a deliberate concentration of value of research. and also the cost of this. the current situation where it is bundled and subsequently the client pays for the research, that clear consideration of the value of the research comparing to the cost of producing the research is a very good proposal or plan. rule within mifid ii, we moved to the separation of research and execution and precisely with

but the high rate on the loan means puerto rico will owe $500 billion a year. it's like what happened to greece. nobody would lend greece money and they got a lot of money out of them in restructured bonds. the same thing is happening here. >> neil: this sounds wormier when you factor in that they need the money anyway. puerto rico needs the doe on whatever the terms. so it can use it collateral for more fema money. >> that's what's going on. some guys on want street said puerto rico, you do not have access to other funds. you have to take this money, this deal that wall street is offering. >> neil: thank you. excellent recording. ricardo rossllo was called into an emergency meeting. this is giving capitolism an awful name. you're talking about bond holders that are using a horrific act of mother nature, the worst storm that puerto rico has seen in a censutury to worm away so they can get their money under the guise of helping people that need age. we can judge as long as we want how puerto rico got into this fix. it is in a fix. we can judge their financial pr

the governor of the bank of england gives a strong indication, that interest rates could soon rise, possibly as early as november. millions with mortages and loans would be affected, as the era of cheap money draws to a close. if the economy continues on the track that it's been on, and all indications are that it is, in the relatively near term, we can expect that interest rates would increase. it would be the first rate rise in ten years. also on the programme: we have a special report on the roll out of universal credit, amid warnings it could leave people in "dire circumstances". three former executives at tesco are on trial, accused of "cooking the books", and inflating the supermarket‘s profits. a welsh climber dies in a rock fall in yosemite national park. his wife is in a critical condition. birmingham gets the government's seal of approval to host the 2022 commonwealth games. and, radio 1, offering up youthful pop music, turns 50. england's cricketing summer draws to a close with the final one—dayer aaginst the west indies in southampton. good evening and welcome to the bbc news

the front of the sunday telegraph, the plot to slash student loan rates. theresa may looking at cutting the interest rate on student loans and forcing universities into lowering tuition fees. that is in an effort to win back young voters. we know in the general election, the labour policy to cut tuition fees entirely won over a lot of young voters but the tories suggesting they may look at how those universities are funded. and the times, tony blair talking about immigration. the man who the finger is pointed out for opening our borders particularly in the 19905 to workers from eastern europe. now saying it is time to get tougher on immigration and increase the rules surrounding people coming into the country. good morning. this story that you have picked out from the mail on sunday. parent5 glued to their mobile phones inviting children to self harm. we have spoken po5itively children to self harm. we have spoken positively about phone5 children to self harm. we have spoken positively about phones but this is negative. i notice it with younger parents in

as a washington dc lobbyist, ed gillespie worked for lenders trying to keep student loan rates high. and ed gillespie's plan to cut taxes for the wealthy could cut virginia school funding, too. ed doesn't stand for education. start the interview with a firm handshake. ay,no! don't do that! try head & shoulders instant relief. it cools on contact, and also keeps you 100% flake free. try head & shoulders instant relief. for cooling relief in a snap. - cooler by late next week - maria regains major hurricane strength today: sunny to partly cloudy. warm and humid. tonight: mainly clear and comfortable. lows: 62-68 winds: n 5 mph friday: partly to mostly cloudy. continued warm. highs: 83-86 winds: n 5-10 mph still ahead.. a yankees game a yankees game comes to a complete stop-- as players get emotional on the field. what happened-- and how it may impact the entire league moving forward. plus, the woman at the center of a reported extortion attempt against comedian kevin hart is speaking out. what she is saying about her relationship with the star. sweet 4k tv, mr. peterson. thanks. pretty

and orthodoxy of about bringing down interest rates on loans, student loa ns. interest rates on loans, student loans. many of them never get paid off anyway, do they? a6 .1% interest rate at the moment. it is extortionate, really. it shows how jeremy corbyn... extortionate, really. it shows how jeremy corbyn. .. we're not going to return to their being virtually no tuition fees, are we? back in my day we did not even pay them. everything was paid by the council. they were not a true reflection of what your tuition cost. we can go back as we do not have the cash. i don't know how much this will cost the government. it says here they will bring down of these two seven and a half thousand pounds that it will be locked up for the science classes. i don't know where the money is coming from because this will come out of the budget later this year. there are so many financial black holes all over the place that they need to plug. and the university system here has not been able to actually hold this concept of fees. in the us there is no free tuition for university. i can tell you that you

these are low default rates on these types of loans. the losses are relatively minor. the other types of fraud, fraud where there really was never any intention to pay the mortgage, it was just about reaping profit as quickly as possible, or fraud that went into these complex securities that were built when the knowledge that there was little to no chance that these loans are going to get repaid, that's where the resources need to go. and throwing your hands up in the air and suggesting that, "well, gee, any time a crime is committed, we put all of our resources in to prove it," is just not true. i mean, today, walking over to my office, the light was red, and i confess, i walked across the street against a red light. i am absolutely guilty of jaywalking and i could have gotten a ticket. did i get one? no. it would have been a complete waste of the nypd's resources to issue me a ticket and divert them of the real crime that's going on in the city. and regulators and prosecutors have to act with the necessary discretion of when to bring charges and when not to bring cha

millions have enjoyed cheaper mortgages and loans, since rates began coming down after the financial crash in 2007, though savers have lost out. here's our economics editor simonjack. it's been a great decade for borrowers, a miserable one for savers. interest rates are at their lowest level since the bank of england was founded over 300 years ago. but today, the governor of the bank sent his strongest signal yet that that may be about to change. what we have said is that if the economy continues on the track that it's been on — and all indications are that it is — in the relatively near term, we can expect that interest rates would increase somewhat. the last time rates went up was more than ten years ago, in 2007. many younger borrowers have never experienced one. so, if it happens, what impact will it have? well, the most obvious one will be on the 11 million homeowners who have variable rate or tracker mortgages. those borrowers have an average outstanding mortgage of £116,000. a 0.25% rise would mean an increase of £15 in monthly mortgage payments. i'm actually not very ha

you could reduce the interest rates. it would seem fairer. but it probably would not make any difference to the finances of the student loan company because very few people will pay them off in full. but it will remove a huge, psychological burden on young people starting university thinking they have these fees afterwards. but i don't think it will get young people to vote conservative. i agree. a foreign story about north korea, britain fearing iran is involved in the nuclear programme. all rather extraordinary and alarming. we have known for a long time, or there had beena known for a long time, or there had been a suspicion of uranium involvement, but all —— about also pakistani involvement. it is a speculative piece. a speculative piece in a sunday newspaper! chuckles shocking. it is widely accepted that this could not have been done on their own. where they got help from is unclear. but the timeline of this, it has sped up dramatically, much, much quicker than we expected. also in this article is the un attem pts also in this articl

the loans are paid back over time. we have an amazing repayment rate, still 120 years lawsuiter. our repayment late is 99.75%. >> we're going to talk about concrete programs and having a few people who will talk in a more personal way how they elevated their own economic health and vitality. if we remind to 1897 in san francisco, can you talk a bit about what was going on that had these visionaries say we need to do this on behalf of our own community for our future. it's quite a vision and legacy. >> it is. it's one that i'm proud to help usher into this century and beyond. what they were facing at the time when you think of the california gold rush, we had a lot of immigrants who were new to the community and all part of that effort to pave the better path for their own families. jews coming here at that time faced a lot of anti semitism and it was difficult for them to get any kind of financial support that others might be able to veil themselves of. this was an opportunity to provide for their own members of the co

a possible rate hike in december , that ten year treasury note is so important sets loan rates on things like mortgages and spiked higher on the news we'll watch that for you but it is a sign of the strength of the u.s. economy that the fed announced it will start reducing the number of securities it has on its $4.5 trillion balance sheet that's going to start next month. not expected to have any impact on race though the fed balance sheet was a cushion for the financial collapse of 2008. coming up which do you prefer? america first or america sorry? we'll compare president trump's first u.n. speech with president obama's last. also, a new report says the president trump's campaign was wiretapped but obama's intelligence director is on the record saying they were not. we've got the man who sued the n sa and he won. he's larry claiman. he's here on who he believes, but first obamacare repeal is back. late night host jimmy kimmel not happy saying it's not a goodwill this is the cassidy gamble but senator rand paul says it does not go far enough so whose right we're bringing in former congr

the apr represents the actual rate of interest someone pays over the course of a year due to compounding. the process whereby interest is outed -- added to unpaid principal. payday loan customers do not borrow for a full year. the interest charges do not compound. there is no apr on a payday loan. $100 for two weeks for a fee of $15, the fee expressed as an interest rate would be 15%. when a payday customer rolls over a loan at payday, he has to pay a new $15 fee, and is then responsible for repaying a total of $130. cannot explode exponentially as they can with a mortgage because there is no compounding. the consumer financial protection bureau is the primary regulator in this case. presumes that borrowers are incapable of making rational choices and subject themselves to exploitation because they are not smart enough to manage finances. there is a whole tangent on what that view of the poor can do for their opportunity and prospects. i will not go down that road, but it is something to keep in mind. the view is repugnant on so many levels. to grasp thatil payday loans are a remedy, the

as a washington dc lobbyist, ed gillespie worked for lenders trying to keep student loan rates high. and ed gillespie's plan to cut taxes for the wealthy could cut virginia school funding, too. ed doesn't stand for education. michelle: only on 7ment to. >> we is video shows a prince george's county police officer struggling with a man in hill crest heights in a parking lot there. it started when he told the man he wasn't supposed to be there because of a restraining order. that is when a bystander jumps in to help. >> you can see the man helped pull the man off the officer. who focused on protecting his firearm and he refused to use deadly force. >> we learn a good samaritan that fought off a robber could face lawsuit from the accused criminal. this is a man who could face the lawsuit. the claim is the good samaritan used force. they called it ridiculous. they proved that honoring craig jerry. >> he is an american hero. >> he went well beyond call of a citizen. >> the man accused in robbery is still behind bars. they did not speak at the ceremony. the case is spending. coming up at s

as a washington dc lobbyist, ed gillespie worked for lenders trying to keep student loan rates high. and ed gillespie's plan to cut taxes for the wealthy could cut virginia school funding, too. ed doesn't stand for education. jonathan: new developments to tell you about in a deadly shooting of 15-year-old in haymarket. police and prosecutors say the friday shooting was justified saying that the teen was beating a woman with a crowbar before he started threatening them with it. his father, though disagrees. >> they could have subdue my son. this is a murder. this is police brutality. jonathan: the prince william county officers involved in the incident were not wearing body cameras in this. nancy: "7 on your side" consumer alert now after a bank card skimming device found inside a gas pump in arlington. it was found before 3:00 yesterday at the exxon where lee highway splits from old mi recently keep an eye on the bank statements for fraud. "7 on your side" helping you protect your wallet. go to wjla.com and search "skimmers" and spot ways to spot the devices from the eyes to the fing

guest: it is where you get loans , the repayment time is longer and interest rates are lower. we cannot do that because they say we are a middle income country. we have to borrow on commercial terms, high interest rates and shorter-term repayments, which we cannot afford. our country is now highly in -- we spend about 80% of gross the mystic product on repaying existing debt. the reason is because of these hurricanes which come year after year. we have to borrow commercially to rebuild because we do not have access to the international financial institutions soft windows. this is wrong and the reason is call a we have what they high per capita income. because we are a small economy, and we do not have enough capital formation in our domestic economy, we have to invite for investors to come into our country, the hotel industry and financial services. when they come in, they pay themselves high wages. those high wages bear no relation to what the normal person in antigua & barbuda would be earning. when you take what they earn and put it into the pot and divided by the populatio

as a washington dc lobbyist, ed gillespie worked for lenders trying to keep student loan rates high. and ed gillespie's plan to cut taxes for the wealthy could cut virginia school funding, too. a local community claiming victory after a utility company changes plans for massive power line projects. i will tell you what is next. ahead. >>> news 4 at 6:00. starts now. >> president trump going after nba super star steph curry. good evening. curry fired back, suggesting racism, may be playing a role in the president's criticism. the controversy coming hours after trump blasted the nfl and players who kneel during the national anthem. we have this ongoing draw ma. >> reporter: in alabama friday night, president trump throwing red meat to his supporters. >> wouldn't you love to see one of these nfl owners, when somebody disrespects our flag to say get that -- off the field right now? out, he is fired. he is fired. >> silent protest started last season. former san francisco 49er colin kaepernick protest and trump's rebuke is drawing sharp reaction. super star lebron james called the preside

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and he wanted to make the loan on the manufactured home because he could stretch out the payments and do it at a less interest rate. but he couldn't do that. why? because the law is structured, he had to do it on his car loan and has put difficulties in the way of this individual. i certainly am opposed to the amendment. and i yield back. the chair: the gentleman's time has expired. the gentleman from kentucky is recognized. bower bower i yield one minute to the gentleman from georgia. mr. graves: i thank mr. barr for his work on this. the language that the author of this amendment is trying to strip is actually language that improves the quality and affordability of housing for mill quops of america caps. i appreciate mr. barr for trying to save americans from the limited access to resources. and new regulations by the cfpb have limited options as well as many other things. and as a result, many lenders are no longer able to offer small balance loans which are used for affordable housing such as manufactured housing. we should be encouraging more access to financing. we are talking a

as a washington dc lobbyist, ed gillespie worked for lenders trying to keep student loan rates high. and ed gillespie's plan to cut taxes for the wealthy could cut virginia school funding, too. ed doesn't stand for education. ♪ ♪ ♪ ♪ nancy: caught on video a horrifying crash that sent sparks flying. a woman speeding out of control when she slammed into this car dealership wiping out four cars as well as power lines. amazingly police say she appeared to be fine when she got out of the car. but they are investigating whether the drugs or the alcohol played a role in this crash. michelle: a chilling admission from a woman accused of shooting and wounding a virginia state trooper after a high-speed chase tuesday night near richmond. >> okay. so he is going to shoot me if i run. i turned around and i shot him. that is the worst mistake i made in my life. i was high. i was drunk. i was scared. i did not want t michelle: that is cariss daniels, mother of two and also a convicted felon and was not allowed to own a gun. but she says charging her with attempted capital murder is unfair

as a washington dc lobbyist, ed gillespie worked for lenders trying to keep student loan rates high. and ed gillespie's plan to cut taxes for the wealthy could cut virginia school funding, too. ed doesn't stand for education. i'm a lawyer, and i have clients, and i am proud to do what i do on behalf of my clients. narrator: the clients john adams and his team are so proud to work for? banks accused of money laundering. big corporations accused of defrauding taxpayers. and mortgage lenders accused of unfairly foreclosing on homes. now he wants to be attorney general. john adams: the best attorney general the powerful and well-connected can buy. i'm mark herring, candidate for attorney general, adrianna: right now, a possible in the murder mystery out of indiana where two teenage girls were killed while hiking back in february. police now say a man arrested in colorado may be connected to this case. daniel nations was arrested outside of colorado springs, accused of threatening several people with a hatchet on a hiking trail. person of interest in the death of a cyclist in that area. n

as a washington dc lobbyist, ed gillespie worked for lenders trying to keep student loan rates high. and ed gillespie's plan to cut taxes for the wealthy could cut virginia school funding, too. ed doesn't stand for education. michelle: must-see video now. rampage without warning at fort lauderdale gas station. wi slammed in several cars and gets out and chases the car screaming obscenities at everybody in the area. within minutes police surround the man and arrest him. they are not sure why he suddenly went off the rail. jonathan: this is in the same videotape. this was shattered on a taillight in the aftermath of a battle after a former drugs council lor confronted a guy shooting up heroin in the parking lot. >> he went whoa, whoa, whoa and swung at me with a hand that had a needle in it. i swung at his truck and hit the driver's side mirror. i think it came off. jonathan: that is what an axe would do. he says he constantly finds needles all over the property. he admits he overreacted but said he has to protect the community. michelle: warning in fauquier county afterp card skimmers

as a washington dc lobbyist, ed gillespie worked for lenders trying to keep student loan rates high. and ed gillespie's plan to cut taxes for the wealthy could cut virginia school funding, too. ed doesn't stand for education. >>> it's beautiful as we continue through the morning. great sunrise out there. the sun just came up ten minutes ago. temperatures right now at 60 degrees. we dropped off three degrees. i do believe we may fall another degree or two before we move the temperature back up. still in the lower 60s right before the noon hour. it's going to be chilly out there today. we'll let you know if rain is on the way coming up. >>> thanks, lauryn. you can kind of consider it nbc 4 history. a moment that went viral. happened in this studio. the time when jim vance and george michael cracked up laughing after a fashion model's misfortune. >> i love it becau. 22 million views and a lot of people in stitches. after ten years, doreen got the model's side of the year. >> the model fell down twice. >> reporter: maybe dwro this clip from news 4 in 2007. they crack up as they watch a m

millions have enjoyed cheaper mortgages and loans since rates began coming down after the financial crash in 2007, though savers have lost out. here's our economics editor simonjack. it's been a great decade for borrowers, a miserable one for savers. interest rates are at their lowest level since the bank of england was founded over 300 years ago. but today, the governor of the bank sent his strongest signal yet that that may be about to change. what we have said is that if the economy continues on the track that it's been on — and all indications are that it is — in the relatively near term, we can expect that interest rates would increase somewhat. the last time rates went up was more than ten years ago, in 2007. many younger borrowers have never experienced one. so, if it happens, what impact will it have? well, the most obvious one will be on the 11 million homeowners who have variable rate or tracker mortgages. those borrowers have an average outstanding mortgage of £116,000. a 0.25% rise would mean an increase of £15 in monthly mortgage payments. i'm actually not very happy ab

to repair the damages into a new loan at a very low interest rate so it's important that small business owners that's been affected is to make that application to sba as soon as possible to get that in the works. >> and, james, there's been a lot of talk over the past few months after president trump put out his budget about just how much money is necessary for these types of events. there were some cuts proposed in this budget initially, i believe, to fema and the national weather service, for example. what is your take on what's really needed to prepare for events like this in the future and how being in touch with this and the real human toll may change our perspective >> well, i think it would be a terrible mistake for the president to cut fema's budget or any of the agencies right now particularly that's involved in the recovery efforts in texas, as well as in florida. you know, the department of agriculture is probably going to need supplemental just because of the damage to the vegetables and fruits in florida and possibly in texas with cattle and other livestock, so the suppleme

> the rates are not helping the bank i think bond purchasing doesn't directly affect the bank the banks that had problematical loans and assets on their books, it's been helpful when it's high that positive yields have been created by very, very low risk rates. it's otherwise difficult assets without very, very low interest rate environment the purchasing of bonds, obviously at that puts money back into the market that can be recycled into higher yielding assets so i think the policies have probably proceeded in many respects the negative rates don't hurt banks. banks such as ours, we haven't had a credit problem in fact, our credit performance at the moment looks extremely strong not getting carried away by it, but running 11 basis points long plus our entire book that's very, very low for banks but we -- i think we've been hurt more, the deutsch bank, which the negative rate. >> and when you called for this gradual normalization, i'm not trying to call it that, does that mean you're more closely aligned? >> yes i think we've been able to exchange views i think we are fairly aligned wi