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Mortgages we created the housing bubble. the same thing is happening with education. as president obama has increased the amount of housing debt that fannie mae and freddie mac and therefore taxpayers have to pay, guess what? the fall rates have default rates have gone up. default rates in mortgages are at an all-time high. default rate of student loans of guaranteed government loans at 6.9%. that s the highest in 12 years. david: stephane, you know, ultimately we re in a recession. david: taxpayers ultimately will pay for defaults, right? i m not sure i heard the question but we could start going after the government loans made for education at for-profit schools. the for-profit schools are a problem. administrators are urged to chase profits or urged to chase kids. that s not a healthy conflict. i don t have a problem with the for-profit education. i have a problem with government subsidiaries for it. as far as the conspiracy theory, is the white house ....
One united. they got $12 million worth of government subsidiaries. ron brought up in the hearing here is the difference. if i could just finish. sure. one difference is this: nancy pelosi will move forward with the trials. the republicans under their leadership took the extraordinary step of changing their own caucus rules to protect tom delay, so that even if he got indicted he could have stayed on as majority leader. that is a low point for congress. and even republicans found that repugnant. we have an open process. i don t like the fact that the man of the house, that members either republican or democrat have fee to play. they re human. we have to have when they do something wrong or accused of doing something wrong we don t protect them as the republicans did, but we allow as nancy pelosi did allowing the trials to move forward. eric: david, are the ethics in your view, is the ethics system in the house working? you have the two prominent trials potentially coming up. ....
Eventually, led to a house of cards and it collapsed. republicans are demanding changes in the practices and would give them two years to clean up the finances and get off government subsidiaries or be liquidated. one democrat said the changes are necessary, but not knows changes. this program needs to be fixed. no question. you need an alternative housing, financing system. that is without question. this amendment doesn t offer any. it says get rid of the ovhone we ve got. senator mccain argued if senator doesn t make a start-up issue in this bill, when will it? later today they voted down mccain s proposal but approved dodd amendment ordering treasury to study the issue and report back next january. there had been a cap on the liabilities of $400 billion. last christmas eve they ....
Eventually, led to a house of cards and it collapsed. republicans are demanding changes in the practices and would give them two years to clean up the finances and get off government subsidiaries or be liquidated. one democrat said the changes are necessary, but not knows changes. this program needs to be fixed. no question. you need an alternative housing, financing system. that is without question. this amendment doesn t offer any. it says get rid of the ovhone we ve got. senator mccain argued if senator doesn t make a start-up issue in this bill, when will it? later today they voted down mccain s proposal but approved dodd amendment ordering treasury to study the issue and report back next january. there had been a cap on the liabilities of $400 billion. last christmas eve they ....
Budget. we have just done a few things. all we need is commitmen commitd exxon sense, but we need an understanding. we need to have a real dialogue with americans. common sense tells you the department of agriculture shouldn t be there. shouldn t we eliminate or severely limit farm sub suddies? this subsidies? this is an idea that came from f.d.r. we love farmers. they work incredibly hard and they feed us and the world. 70% of the money coming through this agency, 70% go to the largest 10% of corporate farms. these are gigantic industries. these are gigantic farms. this isn t mom and pa and grandma and grandpa anymore. why are the corporations receiving government subsidiaries? by the way, even with all the ....