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Now he's paralyzed in a wheelcha wheelchair. and i also had cancer and i'm still recovering from that. and we was about to lose the house. and we went into bankruptcy. so, we went into bankruptcy to save the house from being sold on the steps in seattle. and tried talking to the market lenders and the servicers to get us a modification, something that we could handle because my husband lost his job. and we couldn't pay the payment that it was totally predatory lender a.r.m. and went up quite a lot, so we couldn't make that payment without his working money. >> sorry to interrupt you. i just wa...

Thank you very much. >> thank you. what impact will the new law on the large financial firms and consumers have? cnbc senior economic reporter steve liesman joins me. the one critique i have heard about the new financial reform law is there's a fear that it will contract credit at the end of the day. that there won't be all of a sudden any opportunities for people to take a little bit of risk on lending money. >> well, i think that's probably true, chuck. the idea is if you are a well-informed borrower and you don't mind taking certain risks, those risks may not available for you to take bec...

Be easier to get your bills in on time, because due dates are going to be the same every month. no more of these 1:00 p.m. cutoff times or due dates that are on holiday when they don't accept a payment. all those practices are also outlawed. >> they're also going to stop rate hikes on existing balances. what does that mean? means that if you've got a rate that you've agreed upon on an existing balance, if you follow the rules and pay your bills on time, if you don't, by the way, none of this counts, but if you do, they can't arbitrarily raise your rates. >> that's right, the interest rate you'...

To the deficit that's where he gets 1.3 trillion the 600 real deficit and the 700 of tarp. since he has been president 500 of the 700 got paid back. so the deficit should have been 800 billion. >> sean: so he's being manipulative with the numbers. >> he spent 300 of that on his stimulus package that's how the deficit got to be 1.4. >> sean: if we add up the eight years of president bush a little over three trillion total deficits accumulated debt, if you want to call it debt when it's accumulated. almost in two years he has met the debt that bush accumulated in eight and we trillion dollar def...

To the deficit that's where he gets 1.3 trillion the 600 real deficit and the 700 of tarp. since he has been president 500 of the 700 got paid back. so the deficit should have been 800 billion. >> sean: so he's being manipulative with the numbers. >> he spent 300 of that on his stimulus package that's how the deficit got to be 1.4. >> sean: if we add up the eight years of president bush a little over three trillion total deficits accumulated debt, if you want to call it debt when it's accumulated. almost in two years he has met the debt that bush accumulated in eight and we trillion dollar def...