the nation s debt ceiling is fueling hopes the government won t run out of money on august 2nd. obama saying the deadline drawing close and congressional leaders need to talk turkey in today s meetings. most of the central heat under a heat alert. some areas feel as hot as 126 degrees. . the taliban blaming u.s. hackers for a text that announced the death of mullah omar. the taliban says, no, he is alive and well. one day after rupert murdoch tried to repel the british assault on his empire, it s the prime minister s turn to face parliament. david cameron tainted by claims that he was too cozy with the media giant and drew raucous responses in his appearance before the special session. what is the public expects is not petty political point scoring but a what what they want, what they deserve is concerted action to rise to the level of events and pledge to work together to sort this issue out once and for all and it is in that spirit that i commend this statement
$57 billion as a result. we spend 45 billion to bailout citi. $57 billion came back a couple years later. a nice $12 billion profit for taxpayers. general motors, a profit turned on citi. was the bailout good business? i ll start with you, lex. it s getting harder to hate this bailout. i remembering about back at the beginning of the year forecasting a $100 billion dollar loss from t.a.r.p. and down to 56 and now we re at 25. it s hard to see what the problem is. in fact, you are beginning to see a lot of very positive signs in the financial sector. what do you think, roland? an absolutely good idea but it s not just because of the profit from the sale of citigroup. remember you were on tv every day, mr. doom and gloom, stock market dropping 500 points and people were freaking out because of 401(k).
announced it is selling shares of citi and will wind up with $57 billion as a result. we spend 45 billion to bailout citi. 57 billion came back a couple years later. a nice 12 billion profit for taxpayers. general motors, a profit turned on citi. was the bailout good business? i ll start with you, lex. it s getting harder to hate this bailout. i remembering about back at the beginning of the year forecasting a billion dollar loss from t.a.r.p. and down to 56 and now we re at 25. it s hard to see what the problem is. in fact, you are beginning to see a lot of very positive signs in the financial sector. what do you think, roland? an absolutely good idea but it s not just because of the profit from the sale of citigroup. remember you were on tv every day, mr. doom and gloom, stock
help me straighten it out, freddie is created to make sure funds are in the housing market in tough economic times, 1938 and that is not happening and why are they not working. it was fannie mae created in the depression, later, freddie mac but you hit the nail on the head. arthel. and that is, this has been a problem long in the making for the american taxpayer. now, worst-case scenario is that quarter of a trillion dollar loss that you were pointing out, that is if the housing market gets worse, now, a better scenario is the laws of only this is a loss for the american taxpayer, only $154 billion. if you need solace there. here s the problem, though. for years, fannie mae and freddie mac were buying or guaranteeing home loans that, when the housing market went bust the loans went bad and these two giants, frankenstein monsters had paltry cash on their books to cover them and the american government takes them over, but, they have
leader. and there are also tears back here in the u.s., four missing coal miners have been found dead inside the west virginia mine shattered by a powerful explosion on monday. family and friends holding a vigil for their loved ones, their deaths making the blast the worst u.s. coal mining disaster since 1970. we ll have more on the developing stories in our next news break coming up in 30 minutes and now back to cavuto on business. stay with us. all right. let me see if i ve got it right. the united auto workers suing gm for 450 million bucks over retiree health care costs, the same gm it owns, the taxpayers. the same gm posting a 4.3 billion dollar loss for the last half of 2009. we re now down to, dagen, suing ourselves. disgraceful. disgraceful because the uaw was rescued by the american