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the president was he heading on this, they've always said, look, we're the ones who got rid of don't ask don't tell. the justice department no longer defends the defense of marriage act. so you knew what direction the president was heading. i think there were conversations about whether this would be good politically or not good politically for the president because this could rally mitt romney's conservative base. this could hurt the president with some voters in battleground states like ohio and iowa, for example. but in the end, the president, i think, the president feels he would...

>> shepard: getting new details of the government's 25-million-dollar mortgage deal with some the nation's biggest banks. a lot of people could be affected by this. today the justice department officially fired the settlement in court. it requires five major banks to give billions of dollars to struggling homeowners to sea to shining sea. the government will stop investigating allegations of abusive foreclosure practices against those banks. the feds will expect banks to bring borrower's monthly payments to within 31 pest of their income. and create new loan values greater than no more than 12...

Costly operational failures, would in my opinion, be highly likely. they are managing trillions of dollars worth of mortgages here though others in washington have argued the president, treasury secretary and fed chairman have demanding and complicated jobs as well. and those positions pay six figures not seven. shep? >> shepard: rich edson live in washington. rich, thank you. some help is on the way for u.s. homeowners now. bank of america is promising mortgage relief to 200,000 customers who owe more than their homes are worth that will cut some loans by as much as 100,000 bucks. the bank is...

Read in the newspapers is disturbing and these are things that are under review with the justice department. >> was anything illegal? 14 terror plots have been stopped in new york since the september 11th attacks and f.b.i. director robert muller says the new york police department and its commissioner ray kelly are doing a great job. >> that's a big story. hundreds of thousands of financially strapped homeowners getting some much needed help thanks to a side deal struck between bank of america and the federal government over its foreclosure practices so under the terms, bank of america will n...

If they lost $100,000. and on average, there will be a million homeowners that will be helped with principle reductions that will be tens of thousands of dollars. but again, let's step back. this is only focused on the servicing and the foreclosure practices. the truth is, the conduct that really brought down the economy was the origination and the securitization of these mortgages in the first place. that's why the president announced a new task force with the attorney general to bring together the powers to go after the banks. it's only one miss of a series of steps we have announced in the ...