now you re gettin it. [ female announcer ] sorry, mop, but swiffer wetjet has a dirt dissolving solution and super absorbent pads that trap and lock dirty water deep inside the gradient core while mops can just spread it around. swiffer cleans better, or your money back. she blinded me with science welcome back to fox & friends. fannie and freddie couldn t manage themselves but that didn t stop them from trying to manage the bank bailout. a new report says the treasury department paid the mortgage giants nearly a quarter of a billion dollars to run the tarp program. that s after taxpayers paid billions to rescue them. so is this another example
them in 2008. his numbers are not nearly as good in november of 2012. could it help him? yes. i wonder if it doesn t look too chaotic. not to say it couldn t happen but i still think it s very unlikely. exactly right. thank you very much. house speaker nancy pelosi asking the justice department to investigate mortgage lenders to see if they have committed fraud after a growing number of states have halted foreclosures. ail lied financial and other mortgage giants are only the latest to put thousands of evictions on hold. now lawmakers and the afl-cio want a 60-day voluntary foreclosure moratorium. congressman elijah cummings is here now. great to see you. a frequent guest but not always here. what is your concerning the foreclosures? the lenders say the paperwork
oversight. this is president obama moments ago. people were quote, deceived in taking out mortgages they couldn t afford. people were deceived into doing that. now under elizabeth warren we will have no more abuse, abuse by unskrup pew lust unscrupulous mortgage lenders. so it s all the evil mortgage giants that made us take out loans we couldn t afford. reporter: it was never your fault. it was never you who failed to understand what you were getting into. you were always bamboozled. that s why we are in the mess. we are going to straighten it out. you can t do that. a mortgage is of complex understanding. a credit card in the future a complex thing. you can t reduce it to a couple of sentences on a plain sheet of paper, you cannot do that. and if you try to do that the lawyers will come along and pick holes in you, the bank or broker responsible for any loss incurred by any client. that s why wall street hates
all of these numbers are worse than they were in the last recession. most of them are. but they are slowly em proving, very slowly, but if they were to get into worse levels like jerry is implying, the stock market would be back in 600,000. the government is pumping 800,000 billion stimulus. we could have paid everyone on $100,000 that was on unemployment and it would have been better use. you know what, that was a perfect segue, is it time for barney to go buffy on fannie and freddie? neil s gang says it s time to kill off the moan sucking mortgage giants. did congressman barney frank just tell neil he agrees? find out in minutes. first, union boss, if they yell loud enough because the president is listening. reports the next bailout coming
bret: the obama administration wants to change the way the government sponsored mortgage lenders do business, as the housing market downturn drags on. chief washington correspondent jim angle tells us about high-level piling on, on fannie and freddie. reporter: the key question at treasury department conference was what to do about fannie mae and freddie mac, the government-sponsored mortgage giants? secretary timothy geithner acknowledged that the actions were one of the main causes of the financial crisis. the strat squis were not the ole strategies were not the sole cause of the financial crisis but they made it worse and caused problems for taxpayer and they were avoidable failures. reporter: taxpayers were already on the hook for $145 billion in losses. the sweeping financial services bill president obama recently signed didn t even mention fannie and freddie which had republicans crying foul. wonder why fannie and freddie aren t in this bill.