credit suisse is apologizing. slowdowns in china s economy are worrying investors. stocks down 2.2%. that s a big move. hong kong sharply lower. european markets off to a rocky start as well. stocks in the u.s., dow down 67 points yesterday. futures are flat right now but really watching the red arrows overseas. fannie mae and freddie mac, both of those stocks tumbling, tumbling on news of a bipartisan deal to close them. no time line of when that will happen. no concrete details president obama gave a speech back in august where he mentioned winding down the nation s top two mortgage lenders. now we re hearing democrats and republicans have potentially reached a deal in the senate. the government recently turned a profit on a $187 billion bailout of fannie and freddie. those stog stocks hammered yes. the good news in the northeast, the last day and a
dakota. 700 square foot one bedroom apartment in williston costs $2,400 a month. the most expensive in the country according to an apartment guide study. a similar pad goes for $1,500 in new york. williston s population nearly doubled since the 2010 oil boom rents have exploded. it was one of the most expensive bailouts of the financial crisis. taxpayers shelled out $187 billion to rescue mortgage giants famie mae and freddie mac, an ugly and painful time for taxpayers shouldering the costs for horrible decisions in the market. now they ve recouped all of the billions they gave and even turned a profit. fannie says it will pay treasury an additional $7 billion in profit from the end of last year. give me 60 seconds on the clock. it s money time. bad habits are back. household debt jumped last quarter for the first time since
allison is joining us now with details that taxpayers spend billions bailing out. what s the bottom line now? it s been more than five years. taxpayers are finally getting their money back and then some with the deal. after taxpayers shelled out $187 billion, fanny today is saying it s going to go ahead and pay the government 7 billi$7 billio profit. it was the taxpayer who is had to shoulder the heavy cost of bad decisions happening in the mortgage market. fanny s reimbursement means they would have recouped $192 million coming out $5 billion on top. it was the bursting of the housing bubble that caused massive losses not just for both fannie and freddie. today comes the pay back with the profit. wolf? billion dollars they have
and extra $7 billion to sweeten the deal. christi christine romans is here to explain. reporter: remember, taxpayers shelled out 187 billion with a b, to bailout fannie mae and freddie mac. it was ugly, a painful time for taxpayers. we had to shoulder the costs of horrible decisions in the mortgage market. today, taxpayers have recouped all of that money and turned a profit. they will pay treasury an additional $7 billion in profit from end of last year. it was the housing bubble of 2006 and jump in foreclosures that caused this massive loss for fannie mae and freddie mac. they bundled them, sold them to investors, with guarantees loans would be repaid. interestingly enough, not all taxpayers are thrilled with today s news, carol. i want to show you reaction on social media sites. paul says great, is my check in the mail? i got a lot of that on my twitter feed. sparky asks is there any chance
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