Page 49 - Tobin Smith News Today : Breaking News, Live Updates & Top Stories | Vimarsana

What we really need, frankly, is we have 15 million homes, you know, underwater, right? that could refinance be right now. megyn: can you refinance if you underwater? >> you can't, but the fed, fannie mae and freddie mac could allow you to do that. if we could get that refinancing going because, megyn, everything in the u.s. economy is tied to our housing prices. megyn: yeah. and that hasn't moved. >> that has not moved and that, you know, people talk about various things, don't make it any more complicated. if we could refinance those, get a big stem, remember, last year we were in the same s...

Europe appears no closer to solving the debt crisis that threatens some of its biggest banks, and don't think for a moment we're not connected to that, and u.s. political leaders are in another standoff over spending that could force the government to shut down. joining me now, tobin smith, the founder and ceo of nbt equity group. tobin, it sounds terrible. put it in perspective. is it not that terrible? >> you know, the metaphor of the satellite crashing into the united states is sort of how people are feeling now. you know, the fear comes the federal reserve. you know, it's the federal reser...

amendment to the constitution. >> what is your plan to pay back the tax pairs, and when will you pay it back? >> on the advice of my counsel, i invoke the privilege afforded to me by the fifth amendment of the constitution. >> on the advice of counsel, i invoke the privilege -- >> would you be willing to provide to this committee communications between yourselves or your senior executives with members of the west wing of the white house? >> on the advice of my counsel, i invoke the privilege afforded to me by the fifth amendment of the united states constitution. >> on the advice of ...

watch. >> i want to ask mr. harrison if he thinks the american people who have invested over half a billion dollars deserve to know what happened to that money. >> on the advice of my counsel, i invoke the privilege afforded to me by the fifth amendment of the constitution. >> on the advice of my could be, i in-- counsel, i invoke the privilege invoked by the fifth amendment to the constitution. >> what is your plan to pay back the tax pairs, and when will you pay it back? >> on the advice of my counsel, i invoke the privilege afforded to me by the fifth amendment of the constitution...

back? >> absolutely not, brenda. in fact, the whole proposal is kind of goofy and think about it like this, most of these, the small businesses which we're talking about here, the job creators, pay taxes through the normal income tax and 90% of those will actually pay higher taxes. now, if you're a small business, what are you going to do with that higher cost? you're going to pass it off to your customers, as a result, demand for your product is going to go down. we've seen that and demand goes down, and companies aren't able to expand, hires lets workers and the whole thing is coun...