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category 2 hurricane. we're going to have the latest track of the storm for you. and for the first time in history, a commercial spacecraft linking up with the international space station. let your geek flag fly, folks. we are going to take you live to outer space in just a moment. hi, everybody. welcome to "early start." i'm ashleigh banfield. look who's here! >> good morning. >> nice to have you here. >> i'm alina cho. zoraida has the day off today. it is 5:00 a.m. in the east. on this friday before memorial, we've got lots of news. >> we do, so let's get right to it. this is a...

To unwind fannie mae and freddie mac. they've cost american taxpayers a net $150 billion, they have an unlimited pipeline into the u.s. treasury to help rescue housing, and what's going on here is barney frank and two other democrats sent a letter to the federal overseer of fannie mae and fredty mac treasuring the overseer to get fannie and freddie to do more to rescue housing. this is the congressman who famously said let's roll the dice with fannie and freddie prior to the housing crack-up, he said that in 2003. let's take a look at what the letter says. it says: it is of great concern about...

these families are afraid out here. and these victims have been through a terrible amount. it's a slap in the face. i was a district attorney. some of them need cut loose. i haven't had a chance to check the list for my former prosecutors. so this is a significant problem. but i think we're going to get a handle on it. i think the evidence that we've seen. he violated the constitution and most of the so-call eed pardons will be held. >> we'll have more on the story in just a few minutes. so much for southern hospitality. one republican presidential candidate is using the word armaged...

where she'll stop until she's been there. she turned up this morning at the national archives in her words highlighting america's foundation and contemplating a run for president in 2012. yesterday palin hit the streets with rolling thunder, the motorcycle rally honoring america's m.i.a.s and p.o.w.s. but we think she'll be in gettysburg, pennsylvania later today. jim acosta, she's used the word "foundation" a lot this morning. is she laying the foundation for a presidential run? >> reporter: well, you know, we're not hearing a whole lot, to be quite honest, because that is the game ...

Recession and maybe had a depression and while this may have pushed off the problem, it at least solved it, at least spared us from real, much worse damage. >> the initial decline would have been faster, but we probably would be seeing, looking at least toward the end of the agony now, now, we're near five, maybe a decade and what's remarkable the number of programs that failed. it's almost like case study in federal interventions gone bad. a bunch of them. >> she these didn't start in th obama administration. >> no, went to hope first and went to hope for home owners and modification programs...