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Government created the mess. number three, you have to help people get more flexibility out of their loans. >> underwater mortgages back in october. >> as to what would you do for the housing industry specifically, and are there things you can do to encourage housing? one is don't try to stop the foreclosure process. let it run its course and hit the bottom. >> jimmy, what do you make of that? >> well, he continually -- he habitually rein vents himself. that's hard to say at 11:00, isn't it? but he'll do it again, i'm sure of it. you can't waltz into florida, what, one in five homes is under, ...

many untrue things as fast as you can to get them all into one or two quick statements. so i thought it was kind of wild. >> here's a snapshot of romney's tax details. for 2010, he and his wife reported income topping $21 million, mostly from investments on which they paid less than 14% in federal tax. the gingriches and the obamas earned far less and paid, percentage wise, far more. tax rates are sure to come up in president obama's third state of the union speech. here's one tip-off. we're told warren buffett's secretary will be a guest of the first lady. you'll remember in calling...

Romney in october says foreclosures should run their course. but today he was singing a different tune. watch this. >> don't try and stop the foreclosure process. let it run its course and hit the bottom. >> look, i'm going to do my very best to help. it breaks my heart to hear your stories, your experiences. some of the institutions aren't willing to write it off and say they made a mistake. they loaned too much. we're overextended. >> so congresswoman, in october he said let it run its course. you know, let the foreclosures run its course. today it breaks his heart to see what's going on wit...

♪ but i see your true colors shining through. >> corporations are people, my friend. ♪ true colors. >> let detroit go bankrupt. don't try to stop the foreclosure process. let it run its course and hit the bottom. ♪ true colors. >> i like being able to fire people ♪ beautiful like a rainbow ♪ >> bill: of course, cyndi lauper had to give her permission for that song to be used. the democratic national committee took the "i like to fire people" comment out of context. mr. romney was talking about being able to fire insurance companies who disrespect their customers. i believe barack oba...

Than the bottom 150 million, we need to speak out. we need to get loud. willard, we're done with quiet rooms. but i can see why you like them so much. we know to expect this talk from someone who casually makes $10,000 bets. from someone who says this to people who could lose their homes. >> don't try and stop the foreclosure process. let it run its course and hit the bottom. >> let things run their course. that's what you say in the quiet room. that's heartless. but it's consistent with someone who has trouble identifying real people. >> corporations are people, my friend. we can raise taxes ...