terry because we know at least one, perhaps two of the guns from this operation were found at his death. 370 of more than 1400 guns that were allowed to walk have actually been rounded up. that leave as lot of them still out there and dangerous. just a few minutes from now we ll get reaction to all of this breaking news this afternoon, this morning, rather, from arizona s governor, republican jarn brewer will join us with the latest. we ll get her reaction to the fast and furious news and arizona, south carolina and alabama that is . bill: taking that on, that s right. there is outrage this morning over executive pay at two government-seized mortgage giants the top executives at fannie mae and freddie mac snagging about $13 million in bonuses. the same fannie and freddie blamed for a major role in the mortgage meltdown in 2008 leading to $170 billion bailout by you, the taxpayer. steve centanni national correspondent from the
investors are scared. by last week s debt ceiling deal, not big or bold enough. no one touched entitlement spending, no one fundamentally touched tax reform. knoll republicans and democrats show an ounce of backbone and actually do what s in the interest of the american people, rather than what s in their immediate political interest, i can t argue with s&p 500 s conclusion. our problems are imminently solvable and we know what we have to do to solve them. that pleased the head of standard and poor s. it was a renewed sense of urgency we heard from him was encouraging. s&p downgraded from aaa to aa-plus. mortgage giants own or guarantee half of american mortgages, rates could rise, driving down home values and sales. the markets continue to believe our credit status is aaa. reporter: in fact, as
that you have to have a certain percentage of low income houses. bret: mortgage giants got caught cooking books. fan any was over estimating profit fannie was over estimating profits. allowing the executives to get the bonuses they were only going to get if they made certain profit numbers. fannie mae got its accounting wrong. bret: fannie mae s ceo. when he ed down, after the accounting scandal. government said that profits were inflated in order to collect big bonuses. there s been no evidence that the bonuses were paid on a basis other than what they were supposed to be. bet breath either way, they were huge. according to bret: either way, they were huge. according to a report, he received more than 90 million dollars in compensation in his five years as ceo. i didn t make 90 million
that you have to have a certain percentage of low income houses. bret: mortgage giants got caught cooking books. fan any was over estimating profit fannie was over estimating profits. allowing the executives to get the bonuses they were only going to get if they made certain profit numbers. fannie mae got its accounting wrong. bret: fannie mae s ceo. when he ed down, after the accounting scandal. government said that profits were inflated in order to collect big bonuses. there s been no evidence that the bonuses were paid on a basis other than what they were supposed to be. bet breath either way, they were huge. according to bret: either way, they were huge. according to a report, he received more than 90 million dollars in compensation in his five years as ceo. i didn t make 90 million
they came down on ufer row ly. bret: they held the keys to the american dream. elected officials from both parties bought it. soon they were pushing the mortgage giants to fund more loans for moderate and low income americans. they began with a 30% quota. that was increased to 42% in 1995, to 50% in the year 2000. finally, by 2007 it had gone up to 55%. had to be to people who were at or below the median income. reporter: bret: fanny and freddie became the biggest buyers of securities from wall street that was to pete affordable housing goals or boost earnings in dispute. even barney frank, a stalwart advocate for affordable housing says the low income mortgage quotas were not a good idea. i think we made a great mistake. i ve felt that for a long time. you don t set an arbitrary gel