Detailed text transcripts for TV channel - MSNBC - 20130225:14:19:00
The first place. you have government guaranteed entities with the government as a back stop but with private investors and that system didn't really work. we need to move to a new system, continue securitization but do it in a way that ensures that the government comes in at the last place so we have the banks first, then we have credit enhancers which would be companies that would be in the position to take the first hit, if you will, for a fee. and then ultimately the government will be in the last place but the government guarantee would only come with a funded program that would be part of...