fox business network. stu, this is tarp, this is the big deal pushed through by president bush and hank paulson after all the big banks came in and said the entire economy is going to fail if you don t bail us out. we need the taxpayer money, otherwise the entire country will go down in flames economically so we did it. we gave it to them. the vast majority of it has been paid back however, however, now we get this report that, 119 billion still in arrears. put it in perspective. okay. this is one of the reasons why the economy is weak. 351 small banks, community-style banks, they owe $15 billion of unpaid bailout, bank bailout money. now they don t have the money to repay it. so they re not making any loans. they re not profitable. so they re not repaying these loans and they re not making loans to businesses. that s one of the reasons why the economy is so weak. and actually the condition of these 351 banks is getting worse.
in their homes but we ve learned that not very many of them will qualify according to sources, and taxpayers will be funding those that do. the government regulator of fannie mae and freddie mac is expected to announce as early as tomorrow that the mortgage giants will start allowing limited principal reduction, debt forgiveness, to some homeowners who are under water on their loans. edward demarco, acting administrator of the federal housing finance addings managers, he has resisted allowing debt forgiveness on loans held or insured by freddie and fanny to limit taxpayer bailouts. so far taxpayers have invested more than $180 billion in them. but tomorrow, industry sources say demarco could announce that he will let fannie and freddie participate for the first time in a treasury department program to reduce mortgage debt. it s funded by more than $20 billion in bank bailout money, taxpayer money left over from that t.a.r.p.
he would suggest drug testing recipients of t.a.r.p. money. anybody who got bank bailout money. isn t that taxpayer money? you want to drug test poor people who get money from the government? how about we drug test rich people who get money from the government? the author of that bill, ohio state representative robert hagan from youngstown, ohio, joins us for the interview next.
members of the general assembly and the state supreme court. and this is my favorite part of it. he would suggest drug testing recipients of t.a.r.p. money. anybody who got bank bailout money. isn t that taxpayer money? you want to drug test poor people who get money from the government? how about we drug test rich people who get money from the government? the author of that bill, ohio state representative robert hagan from youngstown, ohio, joins us for the interview next. let s go come with me, let s go come with me, let s go cruise like a norwegian
testing bill. his bill would drug test other people who get state money. not just poor people. his bill would drug test, say, statewide elected officials and members of the general assembly and the state supreme court. and this is my favorite part of it. he would suggest drug testing recipients of t.a.r.p. money. anybody who got bank bailout money. isn t that taxpayer money? you want to drug test poor people who get money from the government? how about we drug test rich people who get money from the government? the author of that bill, ohio state representative robert hagan from youngstown, ohio, joins us for the interview next.