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Detailed text transcripts for TV channel - CNN - 20100417:13:33:00

Part it s what s happening, the problem is working its way through the system. the housing bust going on three years at this point. a lot of people have already lost their home. at some point it s going to work itself out. it s taking longer than we want and meanwhile what s happening in housing is severely affecting the rest of the economy. it s really slowing down the recovery we re supposedly in right now. because of the foreclosures, that the housing market couldn t stand on its own without some sort of we re finding that out right about now, because the government is sort of backing out of these programs it set up to subsidize housing and basically waiting to find out if the housing market can stand on its own. so much debt, no way. fannie and freddie, big mortgage companies are, they re backing most of the mortgages written today, but the government s getting out of things and home buyer tax credit ending. and we have to see if buyers are going say, yeah, feeling comfortabl ....

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