Walk away. Would you say that you are right could a criminal. This. Is very interesting when you see your name. Philip james baker versus the United States of america. Its overwhelming. Then you face the assistant u. S. Attorney as hes looking you in the eye and when you go through that circumstance there are no words that really can describe the depths of the loneliness and feel of the moment. Ultimately. Completed a plea deal with the United States government. I was sentenced to 20 years. For a wire from. Bill because a criminal is he the type of financial mastermind that caused the financial crisis absolutely not this is a guy who is was not very sophisticated about his crime was not very. Malicious about his crime and but he admitted that he committed a crime this is a classic example of where the Justice Department exits shortcut they want to generate publicity for themselves as going after financial drugs and Everyone Wants them to do that. And yet time and time again the people
In early 2006. I discovered that over 60 percent of these mortgages did not meet our guidelines they were by definition defective when i discovered this in this was june of 2006. Silly me i thought it was my job i started issuing warnings because i was supposed to make sure that these met our policy guidelines and i sent email i put it in my weekly report i made Committee Presentations i mean im not a shy guy i cornered people in the hallways at the water fountain and everyone say yeah yeah we we we know we need to fix that but nothing would happen. And through 20062007 the volumes kept increasing and the rate of defective mortgages increased from 60 to in excess of 80 percent it was 80 percent of these mortgages that we were in turn selling. And giving our representations and warranties that they were they met our policy guidelines did not meet our policy guidelines this is misrepresentation that is true as a matter of fact it was for all. Ive seen plenty of alone documents with my ow
The nikkei up a half percent hang seng up 1 111. 2 . In europe, big effort gains in spain. Crude, the one big driver for crude the past couple of days would be harvey. Now a category 2 storm were seeing wti crude up by 0. 7 brent up by 0. 7 welcome back. Thank you great to be back when did you get back last night. Last night. 8 00. All right do you feel different . Do you why would you ask that, joe. Im wondering feels g right . Enjoyed it. Congrats. Everybody knows by now now they do if they dont, theyre about to. Misses melissa lee. Is there a new name. Im still me. Congrats. Good to have you here. Thats dedication, 8 00 last night anything anything to help you out, joe i will do. And the viewers heres the big stories were watching today that was maybe the biggest in corporate news, uber could hold a vote for its next ceo as early as today uber is holding a Board Meeting later total. According to sources hpe c eshs Ceo Meg Whitman will not be there, but former ge Ceo Jeff Immelt will
Right into the presidency in knocking out any and all things that the democrats did. Any amendment i saw that the democrats tried to put forth. Washington journal, every day 7 00 a. M. Eastern live on cspan, we leave this to take you back to the American Enterprise institute where economists and financial industry executives are discussing the significance of federal government statistics to the economy. Lets face it, in a time when the phrase alternative facts has entered the american lexicon is anything more important than what were going to talk about today . At aei we are dedicated to the proposition that rigorous data are successful in evaluating the failures or policies, and to help more people live a better life. We are delighted partnering with our neighbors to examine this critical subject and coreleasing a the topic. This is the kickoff event for that co issued paper. I want to introduce our panel today and after that our key note speaker or my cointroducer. Our panel today s
Assistance in broadcasting this committee meeting. Madam clerk, do you have any announcement s please silence all cell phones and electron devices. Thank you. Madam clerk, could you call item 1 please. Item 1 resolution endorsing the conceptual term sheets wen of between the port and jppf op acquisitions, llc. Well begin with our presentation. Were going to let supervisor peskin make a few remarks. Thank you chair cohen and colleagues and pier 29 and much of the northeast waterfront is in the supervisorial district i have the honor of representing, district 3. By way of background in 1990, a little while ago, the voters of San Francisco passed proposition h, requiring the acquisition of waterfront plan and put an interim moratorium on waterfront property, and the plan was finished in 1997 after a collaborative process. And that waterfront Land Use Plan is now in the process of being updated. You may all recall that about 15, 16 years ago, there was a proposal for about 500,000 square f