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4 out every 10 in the country, more than twice what a lender of its size should have produced according to john taylor, ceo of a consumer rights group focusing on big banks. >> they were going to foreclose on as many peel as they could because that was the business model. they'd make a fortune. >> mnuchin sold one west to cit group for more than twice what he paid for it. he became vice chairman of cit chin hearted the foreclosure mess. dozens of lawsuits and a federal investigation would follow. >> this is james garner for financial freedom. >> reporter: the pitch was simple -- older people s...

Leadership, 16,000 reversed mortgage foreclosures were carried out by one west and its subsidia subsidiary, fipgs freedom. 4 out every 10 in the country, more than twice what a lender of its size should have produced according to john taylor, ceo of a consumer rights group focusing on big banks. >> they were going to foreclose on as many peel as they could because that was the business model. they'd make a fortune. >> mnuchin sold one west to cit group for more than twice what he paid for it. he became vice chairman of cit chin hearted the foreclosure mess. dozens of lawsuits and a federal inv...

Foreclosure mess. you have to phase out over ten years. >> gary b., we're talking about a trillion dollars in tax hike snz. >> brenda, it's astronomical. i don't see just to talk to jonas for a second, why we can't cut spending and cut revenues. that's another way to get around this arrhythmia -- this equat n equation. i zrach my scratch my said. is there some evidence that giving more money to the government is effective? do we have some evidence that the government is somehow efficient? we just spent a trillion dollars with the stimulus. has that helped at all? i don't see it has. is there e...

Panel, "wall street journal" columnist simon kohn stabl and fox business network's stu varney. what we said in the tauz wasn't exactly right. we said that president obama said we righted the howing ship and he hasn't said that. he said it's still a big challenge, housing is still a huge drag on the economy and these numbers bear that out. >> and it's going to be an even worse drag on the economy. we've just had the settlements by the banks of the foreclosure mess so now we've clarified the procedures that must be performed for a foreclosure. this opens up the flood gates to foreclosures. they ...

That's why you saw the president talk about it last night. our economy is going to have an increased -- is recovering, but it needs to -- in order for it to recover more rapidly, the housing market needs to recover. because as any economist will tell you, it's the housing market that's going to lead us out of where we are. and we can't do it as rapidly as we need until we get the foreclosure mess dealt with. and the reality, alex is, and you've covered this, is that the foreclosure crisis does not need to be what it is. and that's why you see katherine cortez mastiff, she's been fighting this ...