Detailed text transcripts for TV channel - FOXNEWS - 2011111

Detailed text transcripts for TV channel - FOXNEWS - 20111117:01:15:00

>> bill: that's why it collapsed. >> then the government had to bail it out. >> then what fannie mae did bread this virus in a petrie dish and then they spread it all over wall street and the world by security advertising the mortgages and say you buy a slice. you buy a slice. so everybody had one percent of these horrific mortgages and when they fell apart, it caused the whole financial system of the world to collapse. >> bill: remember when i had to yell at banky frank for lying on this program but b. how effective fannie mae and freddie mac is to this day people remember that i had to do it. now we find out that newt gingrich was a consultant to freddie mac to the tune of about $1.5 million. so, what you are say something correct, these organizations historically have helped politicians in both parties financially. >> they sure have.

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