Page 20 - Bubble Burst News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Welcome back at 19 minutes past the hour. president obama speaking in washington at the afl' cio to union members. he's speaking about the oil spill and how he's pleased this is coming to the end. let's listen for just a moment. >> went to work in the construction industry as we had the housing boom. but, when the subprime mortgage crisis hit, when those mortgages were called up on wall street, that bubble burst. leaving devastation everywhere. so now we've got millions of our fellow americans swept up in that disaster. hard working people who have been left to sit idle for months and even yea...

Optimistic about what is going to happen with the economy. now, of course, you know, we have seen it go up, we have seen it go down, we have seen it go sideways but, now, i think that that rally may be for real and so, we're adding new jobs. we have to keep it into perspective. 2,000 jobs, that is great in any industry is good to see that kind of hiring but when the whole bubble burst, the housing bubble burst they lost 30,000 jobs. so we have a ways to go yet. >> jamie: it is disproportionate to other industries in terms of hiring and the taxpayers bailed those companies out. maybe that is wh...

They are anticipating that an economic recovery is right around the corner. are better times on the way? joining us is brenda butner anchor of bulls and bears. good to see you. my first question is, what is it that i have to have on my resume to get a job on wall street? >> that depends because a lot of the hiring is very broad-based. let's not crazy. we're seeing wall street hired about 2,000 jobs since february. remember, that when the bubble burst, they lost about 30,000 so there is quite a ways to go. still, we're doing a lot better in many industries, such as manufacturing and constructio...

Reform? i'm voting against proceeding with a bill that's fundamentally flawed, ali, that will not address the real causes of what caused the collapse in 2008. for example, two of the main players in the 2008 collapse were freddie mac and fannie mae. >> right. >> this bill does nothing to try to bring fannie mae and freddie mac under control. and the housing boom that we saw was -- was largely fueled by -- by those two entities providing the funding and buying mortgages and whatnot and when the bubble burst, they came collapsing down, and we saw the federal government have to put $121 billion i...

>> san francisco chronicle, gubernatorial candidate meg whitman has swamped california with an unprecedented tsunami of ad. the former ebay ceo has spent $46 million so far, the most ever been a candidate for a statewide primary in california. >> it's interesting. she is so far ahead right now as well. in "usa today" there's growing fear that china's property market could be the next big economic bust. real estate prices have risen for nine months making homes unfordable for white collar worker. a bubble burst could sharply demand the need for u.s. exports. here, mr. jim vandehei, a look at ...