Detailed text transcripts for TV channel - FOXNEWS - 20121120:21:27:00
Institution started taking the place of the sub prime 11 deers? lenders. >> as i understand it, the bailout is almost automatic. congress doesn't have to approve the money. it is just paid out from the treasury. is that accurate? >> we provide a taxpayer guarantee on the mortgages. if you look right now it is something like 1 and 7fha mortgages is underwater. we will pay a lot on this. amazing statistic, if you look at the new loans for mortgages made since 200990% of them, 9 out of 10 carry with them virtually 100% taxpayer guarantees on repayment. >> what happens if we don't pay out this mon...
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