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>> bailed out fannie mae hitting up taxpayers for another 4.6 billion bucks. the mortgage giant and its twin freddie mac one of the most expensive ever. nearly 190 billion dollars. do you remember the headlines from july of 2008. sbo saying it could cost taxpayers 25 billion dollars. toby, we keep bailing out the bailouts, huh? >> of course we do. a, we're bailing out the lines that they tried to sell us in 2008. we thought 200 billion. we're underestimating it. number two, bailing out the bailouts because there are jennie mae and others we haven't talked about. and they're lying to our face

Wells across the united states, you know what, actually we have flexibility. >> brenda: i've got to get julian in on that point. julian? >> well, i think the point is right. toby's point is right. we're producing more oil now than we have since the year 2003. we've got more rigs in operation, than anywhere else in the world and the obama administration just to get my partisan point in there, and issued new permits for drilling. so, i think there's no question, i think also just back to the point-- there isn't any data that shows that as you go from 3 to 4 to 5 that there's a major drop-off in ...

And anybody doing the math, this is what's going to happen when you bail out a bailout. >> brenda: why shrink when you know you're getting more money from uncle sam? >> absolutely. this is like bailing out in a sense part of the government. the government-sponsored enterprises, look, if you're working at fannie and freddie mac, rather, your whole mission in life is to grow your power base, you don't care about the bottom line, you care about growing bigger and bigger and bigger. that's exactly what the companies are doing. they want more and more money. it will finally choke and starve, the ho...

The country, we should all come together as one big family and put our partisan and philosophical swords down. given what's happened in the recession the last several years, state and local governments do not have the resources to be able to address and rebuild communities after a devastation like this. i think it is the unique responsibility of the federal government and i think that feema does have the resources to deal with this and we've done a lot of nation building in iraq and afghanistan and elsewhere, i think when something like this happens, it's the national responsibility for us to ...