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captioning sponsored by wpbt >> tom: ben bernanke tells lawmakers, while the economy still needs record-low rates, the fed needs to be ready to move. >> we will not be able to wait until things are completely back to normal, because monetary policy takes some time to operate. >> susie: but the chairman didn't say when things will get back to normal, and he didn't give any clues about when the fed will start raising interest rates. you're watching "nightly business report" for thursday, march 25. this is "nightly business report" with susie gharib and tom hudson. "nightly business rep...

you can get it at a 5% interest rate and reduce the principal by $50,000 or $100,000 to get closer to the current value of the property. >> the whole issue of the interest-rate is a fascinating one. we are price stretching it too much. i am hoping that everyone considers the fact that if we do in fact move to 2% loans for a large segment of the population, financial difficulty, etc.. i want to point out that someone will be holding those notes. when interest rates suddenly go to bloom in the next few years, whoever is sitting on that paper will have catastrophic losses. fannie mae, f...

of an act of rape or incest mrs. hutchison: i assume you do know what is in that bill. what about the federal employees health benefit plan? what does it say? mrs. hutchison: the reason i mentioned senator kennedy is because he was the leading liberal in the senate at the time and yet he agreed to that language. the federal employee health benefit package, the following language appears in the financial services and general government appropriations act for fiscal year 2009: section 613. no funds appropriated by this act shall be available to pay for an abortion or the administrative...

. . that ensures the lender has is complete picture of the borrower's financial situation as possible. to this end i was very troubled to learn some modifications are being performed with minimal documentation. after all it was this practice of no or low documentation that helped create a housing crisis we face today. we should not be in the business of perpetuating this practice. according to the treasury department, 375,000 trial modifications are set to convert to permanent modification by the end of the year however, jpmorgan chase recently disclosed in november, close to 25% of ...