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beyond the dollar set assigned the hamp program and the treasury department would help. explain that. there s this program passed as part of the bailout called hamp. they spent essentially none of this money, homeowners haven t been helped with this program. the administration said whatever you need to do. we will go beyond the program administratively to help it work. dimarco s pushback, this is an administrative cost to us plus the homeowners and it was a net plan to the taxpayers for a billion dollars but they said forget that we will help you further. the key point of the ceo and any analysis done for the great disaster this whole thing has been, it s actually best for everyone, including the banks themselves if you actually do the hard thing and say that $200,000 loan, we re writing it
reducing your interest rate or monthly payments, the bank says we will write down this loan, no longer a $200,000 loan, a $100,000 loan or $150,000 loan. they made it clear from the treasury department to dimarco they were fully supportive of a principle write-down and they felt f ha would require administrative costs and go beyond the dollar set assigned the hamp program and the treasury department would help. explain that. there s this program passed as part of the bailout called hamp. they spent essentially none of this money, homeowners haven t been help ed with this program. the administration said whatever you need to do. we will go beyond the program administratively to help it work. dimarco s pushback, this is an administrative cost to us plus
treasury department to dimarco they were fully supportive of a principle write-down and they felt f ha would require administrative costs and go beyond the dollar set assigned the hamp program and the treasury department would help. explain that. there s this program passed as part of the bailout called hamp. they spent essentially none of this money, homeowners haven t been helped with this program. the administration said whatever you need to do. we will go beyond the program administratively to help it work. dimarco s pushback, this is an administrative cost to us plus the homeowners and it was a net plan to the taxpayers for a billion dollars but they said forget that we will help you
out of the hole had the president of the united states pent more time worrying about unemployment rather than ramming through health care which remains wildly unpopular. brian: biggest story is the strike of the chicago s teacher s union. and 400,000 kids and we can t deal and so go doodo something else. we ll give you break fast and lunch but the most part you are on your own in the street was chicago which are the most dangerous streets of the country. gretchen: let s look at whether the teachers that are marching down in city hall. do they have something to be triking about in ang salary of chicago teachers is $76,000 a year every dollar set aside for public education in illinois . 71 cents goes to toacher retirement costs. 15 percent are fourth grade