The StoneZONE with Roger Stone


The Stone Zone | 05-22-25


Episode Stats


Harmful content

Misogyny

4

sentences flagged

Hate speech

7

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The Stone Zone, on the Red Apple Podcast Network's Red Apple Radio Network, is hosted by Roger Stone. Today's show is a special edition of The Stone Zone where Roger talks about the massive tax cut bill passed by the House of Representatives, the "Big Beautiful Bill."

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 The Stone Zone, on the Red Apple Podcast Network.
00:00:15.860 This is The Stone Zone, with Roger Stone.
00:00:19.760 People love him and respect him, Roger Stone.
00:00:22.440 Now, get in the zone, it's The Stone Zone.
00:00:26.420 Here's Roger Stone.
00:00:27.980 Welcome. You are entering The Stone Zone, and we've got one big, beautiful show for you.
00:00:36.560 Today is indeed a historic day, as the U.S. House of Representatives has passed the greatest single tax reduction bill in its history,
00:00:46.760 the so-called Big Beautiful Bill, as President Donald Trump has called it,
00:00:51.060 as historic as the Reagan tax cuts, as historic as the Kennedy tax cuts in the 1960s,
00:00:58.860 and in the tradition of the Trump tax cuts, which this bill continues, or I should say renews as of January,
00:01:08.660 the U.S. House of Representatives passed the bill 2015 to 2014 without a single vote from a Democrat.
00:01:18.240 In other words, the Democrats in the House voted against the greatest single tax cut on the working people of America in our history.
00:01:27.280 The big, beautiful bill passed late last night.
00:01:33.100 The president celebrated the bill's passage on true social writing.
00:01:37.160 The one big, beautiful bill has passed the House of Representatives.
00:01:40.740 This is arguably the most significant piece of legislation that will ever be signed in the history of our country.
00:01:47.500 The bill includes massive tax cuts across the board.
00:01:51.220 The idea that the tax cuts are just for the wealthy is propaganda.
00:01:55.840 It's a lie.
00:01:57.140 But no tax on tips.
00:01:59.540 No tax on overtime.
00:02:01.520 No tax on Social Security.
00:02:03.840 Tax deductions when you purchase an American-made automobile or truck,
00:02:09.180 along with strong border measure increased funding.
00:02:13.820 Pay raises for our ICE and Border Patrol agents.
00:02:17.700 Funding for the Golden Dome.
00:02:19.980 That's the strategic defense initiative in which, like Israel, America will now be protected from incoming ICBM missiles. 0.50
00:02:31.120 This is a great idea.
00:02:32.540 It goes back to the days of Ronald Reagan.
00:02:35.320 The liberals used to deride it as Star Wars, but we have seen it protect Israel, and it can protect America.
00:02:43.680 By the way, the one for the Eastern Seaboard should be put at Fort Drum in upstate New York.
00:02:50.380 Congress has voted for that, but now the funding for it, but they're dragging their feet.
00:02:55.320 The bill passed by the House includes Trump saving accounts for newborn babies and much, much more.
00:03:01.520 I give credit to Speaker Mike Johnson and the House leadership for rounding up the votes.
00:03:10.040 Incredibly, Congressman Garbarino of New York didn't show up.
00:03:16.420 He said he fell asleep.
00:03:18.640 Really, that's disgraceful.
00:03:20.800 Falling asleep when there's a vote on the single most important legislation, perhaps, in American history.
00:03:27.160 So now, of course, all eyes are on the U.S. Senate.
00:03:30.700 We have to see what the Senate will do.
00:03:33.360 There is no time to waste.
00:03:35.180 The Democrats have lost control of their party.
00:03:38.540 They're aimlessly wandering around, showing no confidence, no grit, but above all, no agenda.
00:03:44.660 No agenda to help the hard-pressed, working, middle-class taxpayers of America.
00:03:52.160 No, nothing to help the family.
00:03:55.200 They literally have no agenda other than we hate Trump.
00:04:00.960 Not very attractive.
00:04:02.460 They've forgotten their landslide loss already in the presidential election.
00:04:06.580 They're warped in the past, hoping someday to revive open borders, I guess,
00:04:11.580 so the world's criminals can continue to pour into our country. 0.86
00:04:15.840 So, once again, men will be able to play in women's sports and transgender for everything.
00:04:21.360 The Democrats don't seem to realize that these things, like so many more like them, will never, ever happen again.
00:04:29.380 The bill passed would not only extend the President's 2017 tax cuts as of January,
00:04:35.380 but, as I said, boosts the child tax credit, offers an additional $4,000 deduction for seniors,
00:04:41.840 and puts an end to the absurd, pointless, ineffective green tax initiatives.
00:04:48.480 Evidently, former President Barack Obama is extremely upset about the bill passing,
00:04:53.560 saying on Twitter that Republicans in Congress are trying to push through a bill
00:04:57.900 that would put millions at risk for losing their health care.
00:05:01.720 They want to cut federal funding for Medicaid.
00:05:04.320 That's what's called a lie, ladies and gentlemen.
00:05:07.320 The Democrats do this every two or four years.
00:05:09.920 In reality, it's the illegal immigrants in this country who will no longer be able to get the Medicaid benefits
00:05:18.080 that they never were eligible to get in the first place.
00:05:21.800 Could that be what Barack Obama is talking about?
00:05:25.260 Meanwhile, Ed Martin, you remember him,
00:05:28.220 he was appointed by President Donald Trump to be the U.S. Attorney for the District of Columbia,
00:05:33.340 only to have his nomination derailed by one rhino senator, Tom Tillis, from North Carolina. 0.98
00:05:42.180 Tillis, who I now hope will face a vigorous challenge in the Republican primary for re-election in 2026.
00:05:49.980 But Ed Martin was immediately appointed by President Donald Trump to be a deputy attorney general
00:05:57.300 and to head a task force on the weaponization of the Justice Department under Joe Biden.
00:06:07.080 The DOJ pardon attorney and deputy attorney general has now revealed
00:06:12.120 that a semen-air Democrat whistleblower has come forward with shocking allegations
00:06:17.200 regarding the Joe Biden auto pen scandal.
00:06:21.640 You're familiar with this.
00:06:22.740 This is where they used an auto pen to sign pardons,
00:06:27.200 not just for Joe Biden's political cronies like Adam Schiff and Nancy Pelosi
00:06:33.560 and Dr. Anthony Fauci and others,
00:06:37.380 but also for hardened criminals, murderers, drug dealers,
00:06:43.000 those involved in child sex trafficking,
00:06:47.380 people who have shown no remorse,
00:06:49.480 people who never even applied for pardons.
00:06:52.740 The Justice Department is reviewing now all of Biden's last-minute pardons
00:06:57.740 because they were never done with a real presidential signature.
00:07:02.980 We know that President Biden personally signed the pardon for his son and his brother,
00:07:09.200 but when it comes to the others,
00:07:11.300 it appears that virtually all of them, more than 1,500 pardons,
00:07:15.660 were signed with an auto pen.
00:07:17.680 I have identified Neera Tanden and Steve Nelson,
00:07:22.600 two key Biden aides of those who had control of the auto pen,
00:07:28.920 not to mention Ron Klain, the former White House chief of staff.
00:07:34.680 But a whistleblower came to Ed Martin 10 days ago,
00:07:39.460 very, very senior Democrat,
00:07:41.180 and named the three people who had access,
00:07:45.000 claiming that they were being paid,
00:07:46.860 meaning it was a side gig.
00:07:49.120 They were making money out of it.
00:07:52.220 Now, we have not had a full investigation.
00:07:54.400 At this point, that is merely an allegation.
00:07:57.700 But the point, of course,
00:07:58.520 is that we do need to get to the bottom of it
00:08:01.900 for the sake of the American people
00:08:04.100 and to protect the process.
00:08:05.660 And that is what Ed Martin has pledged to do.
00:08:09.960 Although Martin could not reveal the whistleblower's name,
00:08:13.280 he said the senior Democrat whistleblower
00:08:15.800 worked as a high-level advisor to Joe Biden's 2020 campaign.
00:08:20.760 Martin also said the Biden pardons are unprecedented,
00:08:23.540 added that a couple of the people involved in the scandal
00:08:25.660 have already lawyered up.
00:08:27.820 I just named names.
00:08:29.200 Perhaps others won't do so, but I just did.
00:08:32.260 What Martin did reveal is that the three gatekeepers
00:08:35.300 who are allegedly selling access to the auto pen
00:08:38.280 included Ron Klain and Chairman Mao fanatic Anita Dunn,
00:08:44.840 as well as Biden attorney Bob Bauer.
00:08:48.760 Those are in addition to Neera Tenden and Steve Nelson,
00:08:52.660 two that I named based on my own sources.
00:08:56.200 Martin said that Biden counsel Steve Reschetti
00:08:59.160 and Jill Biden also were lead characters 0.98
00:09:02.580 in this auto pen scandal.
00:09:05.560 And they too will have to be investigated.
00:09:09.740 Yesterday, of course, you would have to be living under a rock
00:09:13.680 if you didn't see President Donald Trump
00:09:15.460 confronting South African President Cyril Ramaphosa
00:09:20.080 in the Oval Office on Wednesday,
00:09:22.360 during which Trump confronted the South African leader
00:09:25.340 about the violent persecution being faced
00:09:28.140 by white residents of his country.
00:09:31.200 This comes as the U.S. has accepted Afrikaner refugees,
00:09:36.380 56 of them, while fielding questions from reporters.
00:09:39.860 One asked Trump,
00:09:40.920 what does it take from you to be convinced
00:09:43.220 that there's no white genocide in South Africa?
00:09:46.980 The president of South Africa then interrupted and said,
00:09:50.320 well, if I can answer that for the president,
00:09:52.280 it will take president listening to the voices of South Africans,
00:09:55.500 some of whom are his good friends,
00:09:57.060 like those who are here when we have talks between us.
00:10:00.420 I'm not going to be repeating what I've already said.
00:10:03.200 I would say there is no Afrikaner farmer genocide.
00:10:06.800 I can bet you these gentlemen would not be here,
00:10:09.300 including my minister of agriculture,
00:10:11.220 who would not be with me if that was the case.
00:10:13.920 The president immediately not only showed a video,
00:10:18.560 but produced dozens of news stories
00:10:21.900 covering the violent deaths
00:10:24.360 and the seizing of lands of white farmers in South Africa.
00:10:28.860 It's interesting to me that through this entire time,
00:10:32.860 Elon Musk, who of course comes from South Africa,
00:10:36.900 today a U.S. citizen,
00:10:38.740 glared at the president of South Africa
00:10:41.600 because, well, I think Elon knew
00:10:43.740 that the president of South Africa was lying.
00:10:47.140 Trump directed the lights be turned down
00:10:49.220 and they showed that shocking video,
00:10:52.180 which appeared to be a rally from the president's party,
00:10:55.960 in which various speakers, singers, and dancers
00:10:59.240 were calling for the murder of white South Africans.
00:11:04.200 The video clip played said
00:11:06.380 that killing is part of the revolution.
00:11:08.360 They can take land when they feel like it
00:11:10.880 without compensation,
00:11:12.220 and they were chanting,
00:11:13.740 kill the boar,
00:11:15.080 which is what white South Africans are called.
00:11:18.500 Additional footage played with Trump explaining
00:11:20.800 that these were the burial sites
00:11:23.020 of over 1,000 white farmers in South Africa.
00:11:26.700 You can see the crosses.
00:11:29.400 If those were not grave sites, what were they?
00:11:32.860 It was a terrible site, as the president said.
00:11:35.420 I've never seen anything like it.
00:11:37.160 Have they told you what that is, Mr. President?
00:11:40.820 I'd like to know what that is
00:11:41.860 because the president of South Africa
00:11:43.660 claims he had never seen that.
00:11:46.240 The president, as I say,
00:11:47.500 leafed through a stack of printed articles
00:11:50.620 saying these are the articles
00:11:52.060 over the last couple of days.
00:11:53.360 Death of people.
00:11:54.640 Death, death, death, horrible deaths.
00:11:57.760 He noted articles about white South Africans
00:12:00.120 fleeing their home country due to violence.
00:12:02.320 A white South African company
00:12:03.700 was violently attacked
00:12:04.760 and burial sites
00:12:06.360 that have been documented across the country.
00:12:08.700 When you look at the videos,
00:12:10.420 I mean, how does it get any worse,
00:12:12.160 the president said.
00:12:13.540 And these are people that are officials.
00:12:15.400 They're people saying,
00:12:16.380 kill the white farmer and take their land. 0.94
00:12:18.720 I have other friends in South Africa,
00:12:20.920 those who have left.
00:12:22.200 One in particular says,
00:12:23.360 you cannot safely go there.
00:12:25.100 He said they want to take your land
00:12:26.920 and they want to kill you. 0.69
00:12:28.360 Again, the president of South Africa claimed
00:12:30.940 that speeches in the clips
00:12:32.360 are not government policy.
00:12:34.760 In South Africa,
00:12:35.940 people are allowed to express themselves.
00:12:39.440 It was disgraceful.
00:12:41.640 In the meantime,
00:12:42.840 Robert F. Kennedy Jr.
00:12:44.360 singled out four potential causes
00:12:46.100 for the crisis impacting
00:12:48.200 nearly half of America's children.
00:12:50.540 The HH secretary pointed
00:12:52.140 to four potential causes
00:12:53.380 of childhood chronic disease
00:12:55.440 and a bombshell report
00:12:56.800 that was released Thursday.
00:12:58.940 The first step in Trump's administration's plan
00:13:01.280 to reverse what he calls
00:13:02.460 a crisis impacting 40% of America's kids.
00:13:06.640 This is the movement
00:13:08.520 to make America healthy again.
00:13:11.680 The port identified poor diet,
00:13:14.280 environmental chemicals,
00:13:15.700 lack of physical activity,
00:13:17.220 and chronic stress,
00:13:18.540 as well as the over-medicalization
00:13:21.480 of our children
00:13:22.900 as the possible causes
00:13:24.820 for the persistent maladies,
00:13:27.320 including obesity,
00:13:29.020 autism, cancer,
00:13:30.400 mental health issues,
00:13:31.720 and allergies.
00:13:32.900 When we come back,
00:13:34.420 the head of the
00:13:35.840 Federal Housing Finance Agency,
00:13:38.760 William Pulte,
00:13:39.620 is going to join us
00:13:40.620 and talk to us about
00:13:41.840 President Donald Trump's commitment
00:13:43.620 to make housing affordable
00:13:45.920 in America again.
00:13:47.420 So whatever you do,
00:13:48.580 don't touch that dial.
00:13:49.920 We'll be right back
00:13:51.120 in the Stone Zone
00:13:52.000 after these messages.
00:13:53.200 The Stone Zone
00:13:55.140 on the Red Apple Podcast Network.
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00:14:34.540 The Stone Zone
00:14:36.040 on the Red Apple Podcast Network.
00:14:40.480 Welcome back in the Stone Zone.
00:14:42.740 We're joined now by William Pulte.
00:14:45.180 Bill Pulte is a dynamic
00:14:47.440 American businessman,
00:14:48.740 philanthropist,
00:14:49.460 who was appointed
00:14:50.180 as director of the Federal
00:14:52.060 Housing Finance Agency
00:14:53.580 by President Donald Trump
00:14:54.780 and confirmed by the U.S. Senate
00:14:56.140 in March of 2025.
00:14:59.480 He is a successful entrepreneur
00:15:01.420 and businessman.
00:15:02.440 He is the grandson
00:15:03.340 of William J. Pulte,
00:15:05.040 the founder of Pulte Group,
00:15:06.460 one of the nation's largest
00:15:07.620 and best-known homebuilders.
00:15:09.640 He is a former director
00:15:10.680 of Pulte Homes
00:15:11.440 and the chief executive officer
00:15:13.260 of Pulte Capital Partners
00:15:14.460 before joining the government.
00:15:16.320 And now, I believe Bill Pulte's appointment
00:15:18.580 demonstrates President Donald Trump's pledge
00:15:22.120 to make housing affordable again
00:15:24.400 and to expand the affordable housing
00:15:27.660 across the country.
00:15:28.720 Bill Pulte, welcome to the Stone Zone.
00:15:31.380 Thank you, Roger.
00:15:32.140 Always good talking to you.
00:15:34.060 So, we have a little bit of time
00:15:35.920 before we have to go to break
00:15:36.940 and then we'll have more time
00:15:38.020 to talk about your commitment
00:15:39.500 to President Trump's agenda
00:15:40.940 to make housing more affordable
00:15:42.940 and to extend the housing stock in America.
00:15:45.500 But how did you find things
00:15:47.540 when you were first appointed
00:15:48.660 to the Federal Housing Finance Agency?
00:15:51.240 You have oversight of both Fannie Mae
00:15:53.380 and Freddie Mac,
00:15:54.400 two of the most important engines
00:15:56.520 for financing of homes in America.
00:15:59.220 But I remember you telling me
00:16:00.020 that virtually nobody
00:16:01.260 was showing up for work.
00:16:02.940 Yeah, we had 16,000 people, Roger,
00:16:04.760 if you can believe that.
00:16:05.680 And most all of them
00:16:06.780 were not going to work.
00:16:08.440 And it's crazy to think about it
00:16:09.580 because these are the two largest companies
00:16:11.340 in terms of asset size in the world.
00:16:13.360 Roger, we have,
00:16:14.380 and Americans have these two companies,
00:16:16.100 Fannie Mae with $4.4 trillion in assets.
00:16:20.260 Can you believe that?
00:16:21.040 And $3.4 trillion at Freddie Mac.
00:16:23.260 These are huge American icons.
00:16:25.440 And until President Trump
00:16:26.400 showed up on the scene,
00:16:27.600 as far as I'm concerned,
00:16:28.920 no other presidents really gave a damn
00:16:30.580 about these two companies.
00:16:33.300 You told me a great story,
00:16:34.720 which I'm going to ask you to repeat.
00:16:35.660 You told a driver to take you
00:16:37.640 to one of their corporate headquarters
00:16:39.200 and he didn't know where it was
00:16:41.200 because he'd never been there.
00:16:42.280 Yeah, he said,
00:16:43.280 I don't think those exist.
00:16:44.320 I wanted to go to the Fannie Mae office
00:16:46.280 in Virginia
00:16:47.300 and the Freddie Mac office in Virginia.
00:16:49.160 And he said,
00:16:49.900 Sir, I don't think we have offices out there.
00:16:52.200 And this is the guy
00:16:52.840 who had been with all of the directors
00:16:54.220 since inception.
00:16:55.220 So, look,
00:16:56.900 you know,
00:16:57.160 it is what it is.
00:16:58.220 What's happened in the past has happened.
00:16:59.880 But now we're in the driver's seat
00:17:01.240 and we're affecting positive change.
00:17:02.760 We've been on the job eight weeks
00:17:03.960 and we're moving at lightning speed
00:17:06.340 because President Trump
00:17:07.540 was given a mandate
00:17:08.300 and we are doing everything we can
00:17:10.220 to fill that out.
00:17:11.460 When we come back,
00:17:12.720 I'm going to ask Bill Pulte
00:17:14.360 about this truth social post
00:17:16.180 by President Donald Trump.
00:17:17.540 He said yesterday,
00:17:18.520 I'm giving very serious consideration
00:17:20.800 to bringing Fannie Mae
00:17:22.440 and Freddie Mac public.
00:17:23.920 I'm speaking with Treasury Secretary
00:17:25.440 Scott Besant,
00:17:26.920 Secretary of Commerce Howard Lutnick
00:17:28.400 and Director of the Federal Housing Finance Agency,
00:17:31.280 William Pulte, among others,
00:17:32.760 who will be making a decision
00:17:33.780 in the near future.
00:17:35.400 Fannie Mae and Freddie Mac
00:17:36.540 are doing very well,
00:17:37.540 throwing off a lot of cash.
00:17:38.760 And the time would seem right
00:17:41.080 to take them public.
00:17:42.620 So stay tuned.
00:17:43.740 When we come back,
00:17:44.420 I'm going to ask Bill Pulte
00:17:45.380 about that potentially historic posting
00:17:48.420 on social media
00:17:49.180 by President Donald Trump
00:17:50.640 and talk about the prospects
00:17:52.800 for more affordable housing,
00:17:54.540 which is the marching order
00:17:55.820 that President Trump
00:17:56.760 has clearly given
00:17:57.640 the agency director, Bill Pulte,
00:17:59.940 who joins us today.
00:18:01.180 Thanks for joining us
00:18:02.300 in the Stone Zone today.
00:18:04.280 Bill Pulte probably knows more
00:18:06.320 about housing than anybody I know.
00:18:09.420 Like Donald Trump,
00:18:10.400 he's a businessman.
00:18:11.360 He doesn't come from government
00:18:12.240 or politics.
00:18:13.140 He comes from the private sector.
00:18:15.060 I'm anxious to get his answers
00:18:16.660 on the other side.
00:18:18.020 Whatever you do,
00:18:18.720 don't touch that dial
00:18:19.800 because we'll be right back
00:18:20.800 in the Stone Zone
00:18:21.480 in just a few minutes.
00:18:22.560 The Stone Zone
00:18:24.460 on the Red Apple Podcast Network.
00:18:33.380 The Stone Zone
00:18:34.920 on the Red Apple Podcast Network.
00:18:39.280 Welcome back to the Stone Zone.
00:18:41.400 We're talking to Bill Pulte.
00:18:43.560 He was appointed director
00:18:45.140 of the Federal Housing Finance Agency
00:18:47.740 by President Donald Trump.
00:18:49.380 And in that role,
00:18:50.180 he takes very seriously
00:18:52.280 his charge from President Trump
00:18:54.020 to make housing affordable
00:18:56.680 for all Americans.
00:18:58.580 Again, he has already enacted
00:19:02.140 incredible reforms
00:19:03.940 at that agency.
00:19:04.900 Bill, let me ask you,
00:19:05.960 how have inflation
00:19:07.080 and the interest rates
00:19:08.280 affected the current housing market?
00:19:10.220 And this is a matter
00:19:11.720 of personal opinion.
00:19:12.580 Do you think the Federal Reserve
00:19:14.000 should cut rates
00:19:15.380 to create a further housing boom
00:19:18.220 in America?
00:19:18.740 Well, I agree
00:19:20.360 with all of President Trump's comments
00:19:21.900 on the Fed needing
00:19:22.680 to lower rates.
00:19:23.640 I would say that
00:19:24.660 the inflation under Biden,
00:19:26.440 and we all know this,
00:19:27.620 was astronomical.
00:19:29.180 And what happens
00:19:29.900 for people who don't know
00:19:31.300 about mortgage rates
00:19:32.140 and why mortgages
00:19:32.900 are so unaffordable
00:19:33.800 is mortgage rates
00:19:35.240 generally track inflation rates.
00:19:37.580 So when inflation goes up,
00:19:39.340 often mortgage rates go up.
00:19:40.940 And the reason for that
00:19:43.140 is basically that,
00:19:44.200 you know,
00:19:44.720 when inflation goes up,
00:19:46.240 people want to use interest rates
00:19:47.500 to keep inflation down.
00:19:49.180 And so now we've got
00:19:49.980 the situation
00:19:50.740 that is a total mess
00:19:52.300 that was created
00:19:53.020 in the last four years.
00:19:54.400 And Roger,
00:19:55.320 we're working every day
00:19:56.800 to reverse the damage
00:19:58.140 that's occurred
00:19:58.680 in the last four years.
00:20:00.140 I'm incredibly optimistic
00:20:01.560 that the president's
00:20:02.480 going to be able
00:20:02.900 to turn around
00:20:03.400 the housing market
00:20:04.140 and make houses
00:20:05.460 affordable again,
00:20:06.420 but we definitely
00:20:07.760 have our work
00:20:08.400 cut out for us.
00:20:09.180 Yeah, you recently upset
00:20:11.300 the Democrats
00:20:11.980 by firing
00:20:13.180 the chief executive officers
00:20:15.120 of both Freddie Mac
00:20:16.600 and Fannie Mae,
00:20:17.960 appointing yourself,
00:20:19.240 chairman,
00:20:19.620 because, of course,
00:20:20.280 you report directly
00:20:21.440 to President Donald Trump.
00:20:23.260 What made these moves necessary?
00:20:25.460 Well, we saw a lot
00:20:26.700 of fraud in the companies,
00:20:27.680 and we frankly
00:20:29.100 were frustrated
00:20:30.380 with some of the
00:20:31.640 poor decisions
00:20:32.820 that were being made.
00:20:33.760 And, you know,
00:20:34.140 like any good manager,
00:20:35.120 when you come in
00:20:35.860 and you don't think
00:20:36.480 that things are being done right,
00:20:37.520 you take what the required action is.
00:20:39.720 And so we went in
00:20:40.500 and we took the action.
00:20:41.560 And I'll tell you,
00:20:42.420 the best thing we ever did
00:20:43.620 was become chairman
00:20:45.080 because that gives you
00:20:46.700 the ability
00:20:47.160 to actually control things.
00:20:49.360 And when you're responsible
00:20:50.680 for things,
00:20:51.260 you need to be able
00:20:51.860 to control the outcome.
00:20:53.440 I don't know how anyone
00:20:54.400 can get anything done
00:20:55.580 if they're accountable
00:20:56.260 for something
00:20:56.920 and they have no influence
00:20:59.120 on the outcome.
00:21:00.080 And as you know, Roger,
00:21:01.300 these companies,
00:21:02.160 or said differently,
00:21:03.460 anything that is affiliated
00:21:04.620 in any way
00:21:05.280 with the government,
00:21:06.480 you know,
00:21:06.660 they have almost
00:21:07.600 like a deep state to them.
00:21:09.680 In other words,
00:21:10.200 there's these people
00:21:10.960 who just do not want
00:21:12.620 progress to happen.
00:21:14.440 And, you know,
00:21:15.300 what's funny is
00:21:15.920 when you think
00:21:16.640 somebody's on your side
00:21:17.660 and then you find out
00:21:18.700 that they really aren't,
00:21:20.760 you know,
00:21:21.160 that's the deep state.
00:21:22.820 It's where you don't think
00:21:23.680 that people are going
00:21:24.300 to show up.
00:21:24.820 And so we were just a fan
00:21:26.460 of, you know,
00:21:27.520 getting rid of the cancers
00:21:29.280 that we believe were there.
00:21:30.560 And then, you know,
00:21:31.860 hopefully the businesses
00:21:32.680 will be stronger
00:21:33.400 than ever before.
00:21:34.140 And I can tell you, Roger,
00:21:35.120 Danny May and Freddie Mac
00:21:36.700 are stronger than ever.
00:21:38.200 So you mentioned
00:21:39.600 finding a lot of mortgage fraud
00:21:41.060 after digging around
00:21:42.040 in your new position.
00:21:43.120 Is the fraud anywhere
00:21:43.780 near the level
00:21:44.720 of mortgage fraud
00:21:45.920 that we saw
00:21:46.480 in like 2007, 2008
00:21:48.420 that caused 0.77
00:21:49.500 a mortgage crisis
00:21:50.540 back then?
00:21:51.640 No, I don't think so.
00:21:52.720 But as you know,
00:21:53.340 we want to avoid
00:21:54.080 the slippery slope
00:21:54.920 and we want to stop
00:21:55.660 mortgage fraud
00:21:56.260 where it is.
00:21:57.460 You know,
00:21:57.660 I referred Letitia James 0.77
00:22:00.140 to the Department of Justice,
00:22:01.300 you may have seen,
00:22:02.100 for what we believe
00:22:04.260 to be mortgage fraud.
00:22:05.560 You know,
00:22:05.740 I don't want to comment
00:22:06.380 too much beyond that letter,
00:22:07.680 but I would say to you,
00:22:08.620 generally speaking, Roger,
00:22:10.220 that, you know,
00:22:11.360 there is an issue
00:22:12.320 in this country
00:22:12.920 where people are claiming
00:22:14.220 that they live in one state
00:22:15.400 and going and buying
00:22:16.540 property in another.
00:22:18.060 There is also a situation
00:22:19.420 where people are
00:22:20.000 overstating their earnings.
00:22:21.580 There's also situations
00:22:22.800 where people are claiming
00:22:23.740 that, you know,
00:22:24.500 they have more units
00:22:25.460 in building
00:22:25.940 or less units
00:22:27.380 in buildings
00:22:27.960 in order to get access
00:22:29.220 to financing
00:22:29.940 that would only be available
00:22:31.320 at certain levels.
00:22:32.240 So, you know,
00:22:33.220 we are taking
00:22:34.040 a very strong approach to it.
00:22:35.740 It doesn't matter, Roger,
00:22:36.780 whether you're a politician
00:22:37.780 or whether you have
00:22:38.760 an Esquire after your name.
00:22:40.300 If you commit mortgage fraud
00:22:41.580 in this country,
00:22:42.180 we are going to come after you,
00:22:43.640 period.
00:22:44.360 Well, no person
00:22:45.180 is above the law.
00:22:46.640 I forget it was
00:22:47.180 who said that,
00:22:47.960 but I think she's
00:22:48.760 about to find out.
00:22:50.260 Bill, your reaction
00:22:51.440 to the passage last night
00:22:53.540 of, I think,
00:22:54.020 the single largest tax cut
00:22:55.360 in American history
00:22:56.220 by the House Republicans.
00:22:58.320 Well, it's following
00:22:59.100 from the president's mandate
00:23:00.260 and obviously,
00:23:02.060 you know,
00:23:02.580 the president's mandate
00:23:03.360 speaks for itself.
00:23:04.420 Look at what's happening
00:23:05.240 now with the House
00:23:05.860 of Representatives.
00:23:06.620 I'm sure the Senate
00:23:07.200 will pass it
00:23:07.900 in due course,
00:23:09.180 hopefully, God willing,
00:23:10.560 and we'll be off
00:23:11.320 to the races.
00:23:12.140 But look,
00:23:12.700 we got a lot of work
00:23:13.440 ahead of us, Roger.
00:23:14.240 These last four years,
00:23:15.320 what happened with inflation
00:23:16.380 and what happened
00:23:17.060 with housing costs,
00:23:18.580 you know,
00:23:18.920 President Trump
00:23:19.400 doesn't get much credit,
00:23:20.280 but he's been able
00:23:21.260 to bring down
00:23:21.920 the inflation
00:23:22.520 and housing costs.
00:23:24.140 And I wish
00:23:24.980 that would be reported more.
00:23:27.400 I saw in an interview
00:23:28.620 you said
00:23:29.100 there are a lot
00:23:29.620 of things
00:23:30.040 that were put in place
00:23:30.820 during the first
00:23:31.540 Trump administration
00:23:32.440 that the Biden
00:23:33.660 administration canceled
00:23:34.860 and that you have
00:23:36.620 brought back.
00:23:37.400 Can you mention a few?
00:23:39.520 Well, we've brought
00:23:40.100 just back
00:23:40.660 getting rid of
00:23:41.240 all of the bureaucracy,
00:23:42.520 even from the Obama era,
00:23:43.700 if you can believe it.
00:23:44.460 I mean,
00:23:44.660 we still have regulations
00:23:45.760 that are just complete
00:23:47.300 and utter nonsense
00:23:48.380 that have been in place
00:23:50.540 since Obama
00:23:51.200 that were requiring
00:23:53.300 all this bureaucracy,
00:23:55.060 all of this reporting.
00:23:56.160 Roger,
00:23:57.480 I mean,
00:23:57.760 we've saved
00:23:58.300 almost $100 million.
00:24:00.140 Think about that.
00:24:00.780 $97 million
00:24:01.820 is the exact number
00:24:03.020 that I was told
00:24:03.660 by the CFO of Fannie Mae.
00:24:05.860 $97 million
00:24:07.220 just by getting rid
00:24:08.760 of useless reporting,
00:24:11.340 useless bureaucracy
00:24:12.400 at Fannie Mae alone.
00:24:14.700 I mean,
00:24:14.880 these numbers
00:24:15.340 are astounding.
00:24:17.380 And by the way,
00:24:18.620 Roger,
00:24:19.040 not a day goes by
00:24:20.020 where I don't get shocked
00:24:21.160 with millions of dollars
00:24:22.120 that we're saving.
00:24:22.740 The Fannie and Freddie
00:24:25.400 now extremely profitable,
00:24:27.440 but nothing compared
00:24:28.500 to what they could be.
00:24:30.340 I want to ask you
00:24:31.280 about this tweet,
00:24:33.500 or I should say,
00:24:34.800 I think it was first
00:24:35.600 a true social posting.
00:24:36.940 The president said,
00:24:38.040 I'm giving serious consideration
00:24:39.740 to taking Fannie Mae
00:24:41.280 and Freddie Mac public.
00:24:42.940 I'll be speaking
00:24:43.740 with Treasury Secretary
00:24:44.760 Scott Bessent,
00:24:46.120 Secretary of Commerce
00:24:47.140 Howard Lutnick,
00:24:47.840 and the director
00:24:48.640 of the Federal Housing
00:24:50.400 Finance Agency,
00:24:51.560 William Poultry,
00:24:52.220 among others,
00:24:52.740 and will be making
00:24:53.760 a decision
00:24:54.380 in the near future.
00:24:56.260 Fannie Mae
00:24:56.680 and Freddie Mac
00:24:57.460 are doing very well,
00:24:58.880 throwing off a lot of cash,
00:25:00.160 and the time would seem
00:25:01.000 to be right,
00:25:01.680 so stay tuned.
00:25:03.000 Bill Poultry,
00:25:03.900 what is the case
00:25:04.940 for taking both
00:25:06.200 Fannie Mae
00:25:06.780 and Freddie Mac public?
00:25:08.780 Well,
00:25:09.360 the president puts it
00:25:10.260 better than anyone,
00:25:11.320 and he says,
00:25:12.340 point blank,
00:25:13.080 Fannie Mae and Freddie Mac
00:25:14.080 are doing well,
00:25:14.820 and they are.
00:25:15.560 People are back
00:25:16.260 in the office,
00:25:17.280 these things are
00:25:17.880 spitting out cash,
00:25:19.180 and frankly,
00:25:19.740 if we have our way
00:25:20.580 with them,
00:25:20.980 which we will,
00:25:21.640 they will be
00:25:22.460 great American icons,
00:25:23.600 once again,
00:25:24.200 that have tremendous,
00:25:25.420 tremendous earning power,
00:25:27.040 and that inerves
00:25:27.620 to the benefit
00:25:28.140 of the American people.
00:25:29.580 The whole reason
00:25:30.380 that we did
00:25:30.880 what we did
00:25:31.340 with the chairmanship
00:25:32.100 and taking a strong
00:25:33.300 approach to making sure
00:25:35.040 that there are good
00:25:35.620 outcomes with this situation
00:25:36.840 is exactly
00:25:37.540 to make sure
00:25:38.680 that we can deliver
00:25:39.640 on what President Trump
00:25:40.600 is saying,
00:25:41.240 which is making sure
00:25:42.600 that these businesses
00:25:43.380 are spitting out cash
00:25:44.560 and doing better
00:25:45.300 than ever before.
00:25:46.040 I'll defer to the president
00:25:47.720 in terms of what
00:25:49.020 his truth post will mean.
00:25:51.320 Ultimately,
00:25:51.940 he will be the one
00:25:52.600 making the decision on it.
00:25:54.140 However,
00:25:54.520 in the meantime,
00:25:55.320 my main focus
00:25:56.020 is on making sure
00:25:56.980 that through the chairmanship,
00:25:59.280 but most importantly,
00:26:00.280 through the directorship
00:26:01.080 at FHFA,
00:26:02.480 federal housing,
00:26:03.320 through President Trump,
00:26:04.800 that we are keeping
00:26:05.720 all of our options open
00:26:07.020 and running these businesses
00:26:08.520 in tip-top shape.
00:26:09.760 And I can tell you,
00:26:10.420 Roger,
00:26:10.640 when you have 16,000 employees
00:26:12.420 and no one showing up
00:26:13.440 at work,
00:26:14.300 they were not in tip-top shape
00:26:15.580 under Biden.
00:26:16.200 They were in the toilet
00:26:16.940 and we're getting them back.
00:26:18.180 We're getting them back
00:26:18.780 up and running
00:26:19.340 and we're going to get going again.
00:26:22.460 I noticed
00:26:23.100 one of your critics
00:26:24.260 said this on social media
00:26:25.980 to give you a chance
00:26:26.700 to respond to it.
00:26:27.900 Somebody said that
00:26:28.940 if Fannie Mae
00:26:30.680 and Freddie Mac
00:26:31.480 were taken public,
00:26:32.460 it would cause
00:26:33.100 the value of housing bonds
00:26:35.900 to crash.
00:26:36.980 Your view?
00:26:38.680 Well,
00:26:39.080 we're extremely sensitive to
00:26:40.460 and we'll make sure
00:26:41.340 that any study
00:26:42.360 that we do
00:26:42.960 in terms of this whole process
00:26:44.360 and just thinking about it
00:26:46.140 in general
00:26:46.640 has to really be focused
00:26:48.660 on making sure
00:26:49.360 that there's not
00:26:49.860 an upward pressure
00:26:50.540 on mortgage rates.
00:26:51.560 And I'm very focused on it.
00:26:53.480 We're very focused on it.
00:26:54.980 And I think that it's going
00:26:56.020 to be something
00:26:56.460 that's very important to us.
00:26:57.500 So first and foremost,
00:26:58.860 Roger,
00:26:59.120 no matter what happens
00:26:59.940 is the safety
00:27:00.680 and soundness
00:27:01.420 of the mortgage market.
00:27:02.440 And I can guarantee you
00:27:03.840 we are going to make sure
00:27:04.960 that the mortgage market
00:27:06.080 is safe,
00:27:06.880 sound,
00:27:07.300 and that there are not
00:27:08.260 increased costs
00:27:09.100 no matter what the outcome is.
00:27:11.200 About a week ago,
00:27:12.560 I think it was,
00:27:13.380 I had Barry Habib,
00:27:15.020 one of the nation's
00:27:16.360 leading experts
00:27:17.060 on both the housing
00:27:18.120 and the mortgage market.
00:27:20.340 A man who's actually credited
00:27:22.180 with saving the mortgage market
00:27:24.640 back in the past
00:27:26.460 when he made a stunning presentation
00:27:29.520 to the Federal Reserve.
00:27:31.420 And he made an excellent case
00:27:35.600 for taking these public.
00:27:39.560 He also expressed great confidence
00:27:42.100 in your leadership at FHFA,
00:27:44.980 I might add.
00:27:46.160 I guess my concern here is
00:27:49.540 that there are those out there
00:27:53.060 who don't understand
00:27:54.160 that Donald Trump,
00:27:56.140 kind of like Bill Pote,
00:27:57.160 is first and foremost
00:27:58.440 a businessman,
00:27:59.060 an entrepreneur,
00:28:00.460 a man who understands
00:28:01.900 the dynamic of business,
00:28:03.820 and that these decisions
00:28:05.580 made by the president
00:28:06.640 I think could lead
00:28:08.000 to a true golden age
00:28:10.440 in terms of
00:28:11.160 not just affordable housing,
00:28:12.800 but a drop in inflation,
00:28:16.880 lower grass prices,
00:28:18.960 lower food prices.
00:28:20.660 I really do think
00:28:21.260 we're on the cusp
00:28:22.020 of a golden age.
00:28:23.580 We are.
00:28:23.940 We are,
00:28:25.620 but he has to reverse
00:28:26.560 what's gone on
00:28:27.220 the last four years.
00:28:28.100 And I keep saying this,
00:28:29.180 and it's not something
00:28:30.260 we want to talk about.
00:28:31.300 But, I mean, Roger,
00:28:32.500 the inflation that happened
00:28:33.740 in the last four years
00:28:34.540 is borderline, you know.
00:28:36.060 I mean, I don't even want to say it.
00:28:37.200 It's just not good.
00:28:38.140 It's just not good
00:28:38.940 what happened under Biden.
00:28:40.400 And to your point,
00:28:41.740 President Trump
00:28:42.280 has gotten groceries down,
00:28:43.600 eggs down,
00:28:44.580 and he's gotten oil down.
00:28:46.580 One of the things
00:28:47.100 he doesn't get credit for
00:28:48.080 is home prices.
00:28:49.380 Home prices are not sky high
00:28:51.320 in terms of rate of change
00:28:53.240 quarter over quarter
00:28:54.100 like they were.
00:28:55.240 I mean, Roger,
00:28:56.120 people couldn't afford homes.
00:28:57.380 People could barely
00:28:58.100 afford their rent.
00:28:59.300 So, yes,
00:28:59.760 we are on the cusp of that,
00:29:01.340 and I'm very positive
00:29:02.540 and very positive
00:29:03.660 about the economy
00:29:04.340 under President Trump.
00:29:05.560 But what he's doing right now
00:29:07.480 is nothing short of Herculean
00:29:08.940 to turn around
00:29:09.580 what happened
00:29:09.980 the last four years.
00:29:11.560 Yeah, amazing report
00:29:12.960 just the other day,
00:29:14.280 which was something
00:29:15.300 Barry Habib
00:29:16.020 had kind of tipped us to,
00:29:17.100 which is virtually
00:29:17.800 all of the job creation numbers
00:29:20.860 published during the Biden years
00:29:22.280 were bogus.
00:29:23.960 So they would project,
00:29:25.480 you know,
00:29:25.980 a net gain of 60,000 jobs,
00:29:28.780 and it got huge headlines.
00:29:30.440 And then, of course,
00:29:30.960 three days later,
00:29:31.800 they would quietly restate that,
00:29:34.240 ratcheting the numbers way down.
00:29:35.860 Of course,
00:29:36.160 the second story
00:29:37.020 never got any coverage.
00:29:39.020 So, I mean,
00:29:40.120 most of the economic information
00:29:42.840 that the Bureau of Labor Statistics
00:29:44.360 was giving us
00:29:45.680 had been cooked,
00:29:47.380 cooked for political purposes,
00:29:49.080 cooked to try to affect
00:29:50.160 the 2024 election.
00:29:54.480 I'm not sure
00:29:55.420 what could be done
00:29:56.140 to ensure
00:29:57.000 that the information
00:29:58.400 being put forward
00:29:59.300 by some of these
00:30:00.020 federal agencies,
00:30:00.880 which sadly
00:30:01.960 are still riddled
00:30:03.620 with holdovers,
00:30:05.340 with people who are
00:30:06.380 loyal to the last regime
00:30:08.420 or loyal to the institution
00:30:10.300 rather than committed
00:30:11.860 to the president's
00:30:12.900 pro-growth,
00:30:14.000 pro-opportunity agenda.
00:30:15.560 But I think that
00:30:16.160 it should be a high priority.
00:30:18.240 I agree.
00:30:18.640 And I think that, look,
00:30:19.660 you got a great team,
00:30:21.200 a great economic team,
00:30:22.260 and they're going to get
00:30:22.800 to the bottom of anything,
00:30:24.460 I believe,
00:30:24.960 as it comes up
00:30:25.780 or as it's been done
00:30:26.760 that they believe
00:30:27.660 is untoward.
00:30:28.720 But, you know,
00:30:29.400 in terms of our mortgage fraud,
00:30:30.660 that's really where
00:30:31.220 our focus is on,
00:30:32.300 as you know,
00:30:33.100 and making sure
00:30:33.840 that there is safety
00:30:35.000 and soundness
00:30:35.820 in the mortgage market.
00:30:36.900 So, I can't really,
00:30:38.100 you know,
00:30:38.900 help in that area.
00:30:39.800 But I can tell you
00:30:40.400 one thing, Roger.
00:30:41.280 We are laser-focused
00:30:42.520 on this mortgage fraud.
00:30:43.620 And, as I said earlier,
00:30:46.040 if you are a politician
00:30:47.260 or you are a famous person
00:30:48.740 or you are a lawyer
00:30:49.620 and you think
00:30:50.460 you can get away
00:30:51.000 with mortgage fraud
00:30:51.840 in this country,
00:30:53.660 you are underestimating
00:30:55.220 what we are going to do
00:30:57.020 to get rid of mortgage fraud.
00:30:58.760 You know,
00:30:59.140 you have sweeping powers
00:31:00.620 in that area
00:31:01.640 and this idea
00:31:03.580 that you are somehow
00:31:04.440 weaponizing the system.
00:31:06.360 I mean,
00:31:06.560 the facts are the facts.
00:31:08.100 This has all been
00:31:08.940 very heavily documented.
00:31:10.460 We had Sam Antar 0.94
00:31:13.460 who is the publisher
00:31:15.020 and editor
00:31:15.540 of whitecollarfraud.com
00:31:17.540 who did the original
00:31:18.920 analysis on this.
00:31:20.060 He shows you
00:31:20.580 the actual documents.
00:31:22.020 So, this isn't conjecture.
00:31:23.820 This isn't a projection.
00:31:25.340 This isn't polemics
00:31:28.960 or propaganda.
00:31:30.720 The signed,
00:31:32.360 notarized documents
00:31:33.500 are what they are
00:31:34.960 and it is very compelling
00:31:37.000 in the question
00:31:37.700 of Attorney General
00:31:39.360 Letitia James
00:31:40.820 and then she just
00:31:42.160 says to the New York Times,
00:31:43.380 oh, well,
00:31:44.040 yes, I did sign
00:31:45.380 a power of attorney
00:31:46.880 in which I said
00:31:47.760 that I was going
00:31:50.320 to occupy
00:31:51.280 this home in Virginia.
00:31:53.040 It would be
00:31:53.240 my principal residence
00:31:54.400 but before that
00:31:56.060 I signed an application
00:31:57.080 that didn't say that.
00:31:58.180 Well,
00:31:58.760 there is no such application.
00:32:00.220 New York Times
00:32:00.580 just writes that
00:32:01.340 as a fact
00:32:02.000 but you can look
00:32:03.000 in the records
00:32:03.560 there is no such
00:32:04.440 notarized application.
00:32:07.140 It is amazing
00:32:09.020 how the media
00:32:10.820 seeks to cover for her
00:32:12.440 and then
00:32:13.040 I don't know
00:32:13.280 if you saw this bill
00:32:14.080 but they actually
00:32:15.200 tried to move
00:32:15.900 legislation
00:32:16.720 in the New York
00:32:17.380 State Legislature
00:32:18.300 where the taxpayers
00:32:21.100 of New York
00:32:21.880 would pay
00:32:22.420 for her legal defense.
00:32:23.880 Her defense 0.96
00:32:24.900 in actions
00:32:25.820 she took
00:32:26.300 not as Attorney General
00:32:27.620 not in her official
00:32:28.960 capacity as Attorney General
00:32:30.260 but as a private citizen.
00:32:32.080 Actions that she took
00:32:33.080 that appeared to me
00:32:34.400 to constitute
00:32:35.580 a 22-year record
00:32:38.400 of mortgage fraud
00:32:40.360 and the Democrats
00:32:42.580 want the taxpayers
00:32:44.920 of New York
00:32:45.380 to pay for her
00:32:46.060 legal defense.
00:32:47.400 She hired the lawyer
00:32:48.680 Abby Lowell
00:32:49.600 he last represented
00:32:51.720 Hunter Biden
00:32:52.560 he'll sign his name
00:32:54.240 to anything
00:32:54.720 whether it's true
00:32:55.360 or not
00:32:55.780 but I can tell you this
00:32:57.040 he's not cheap
00:32:58.220 I see no reason
00:32:58.960 why the taxpayers
00:32:59.620 of New York
00:33:00.740 should pay for that.
00:33:02.020 Bill,
00:33:02.180 you don't have to comment
00:33:02.840 on any of that
00:33:03.620 I don't expect you to
00:33:04.620 I did see
00:33:05.960 I appreciate it
00:33:06.900 and as I said
00:33:07.580 I can't comment
00:33:08.200 beyond the letter
00:33:08.880 but just as a general matter
00:33:10.240 as it pertains
00:33:10.980 to mortgage fraud
00:33:12.300 to your point
00:33:13.700 you know
00:33:14.320 we are a
00:33:15.240 look
00:33:16.240 we look at housing
00:33:17.140 and mortgages
00:33:17.760 as not political
00:33:19.420 I mean
00:33:19.780 we want a strong
00:33:21.360 housing market
00:33:22.200 we want a strong
00:33:23.640 mortgage market
00:33:24.520 it doesn't matter
00:33:25.540 whether you're black
00:33:26.400 white
00:33:26.900 Republican
00:33:27.480 Democrat
00:33:28.160 politician
00:33:29.220 lawyer
00:33:29.780 famous person
00:33:30.800 not famous person
00:33:32.000 if you commit
00:33:32.720 mortgage fraud
00:33:33.400 in our view
00:33:34.780 you are a threat
00:33:35.700 to the market
00:33:36.980 very very
00:33:40.160 well put
00:33:40.900 I saw in an interview
00:33:41.840 the other day
00:33:42.600 that you said
00:33:43.640 when you got to FHFA
00:33:45.240 you found people
00:33:46.840 working there
00:33:47.900 posing as Americans
00:33:50.020 but who were not
00:33:50.980 even US citizens
00:33:52.400 Chinese citizens
00:33:54.400 Indian citizens
00:33:55.400 when we come back
00:33:56.160 I'm going to ask you
00:33:56.780 about that
00:33:57.340 I'm also going to ask you
00:33:58.720 given your family's
00:33:59.980 reputation as builders
00:34:01.840 isn't part of
00:34:03.440 the housing boom
00:34:05.460 the need to bring
00:34:06.580 the cost
00:34:07.200 of house
00:34:08.540 building materials
00:34:09.980 down
00:34:10.420 we'll be back
00:34:11.340 with Bill Pulte
00:34:12.000 to answer those
00:34:12.660 questions
00:34:13.120 on the other side
00:34:14.420 please
00:34:14.720 whenever you don't
00:34:15.360 touch that dial
00:34:16.080 we'll be right back
00:34:16.980 in the Stone Zone
00:34:17.980 in just a minute
00:34:18.640 The Stone Zone
00:34:20.400 on the Red Apple
00:34:21.680 Podcast Network
00:34:23.020 The Stone Zone
00:34:30.740 on the Red Apple
00:34:32.760 Podcast Network
00:34:34.060 And we're back
00:34:36.600 in the Stone Zone
00:34:37.760 for our final segment
00:34:39.260 we're talking to
00:34:40.260 William Pulte
00:34:41.320 he was appointed
00:34:43.080 by President Donald Trump
00:34:44.680 as the head
00:34:45.780 of the Federal
00:34:47.160 Housing Finance Agency
00:34:49.100 FHFA
00:34:49.900 after a stunningly
00:34:52.900 successful business career
00:34:55.080 he's an entrepreneur
00:34:56.500 businessman
00:34:57.160 home building
00:34:58.400 is in his blood
00:34:59.540 his family of course
00:35:00.560 is known as
00:35:01.100 one of the premier
00:35:02.600 home building
00:35:03.620 companies in the country
00:35:05.300 he's also
00:35:06.600 one of the earliest
00:35:08.200 pioneers
00:35:08.940 of online
00:35:10.420 philanthropy
00:35:11.320 philanthropy
00:35:12.700 pardon me
00:35:13.540 and we're glad
00:35:15.240 to have him
00:35:15.860 Bill
00:35:16.520 when it comes
00:35:17.620 to housing
00:35:18.640 it's not just
00:35:19.240 the availability
00:35:19.820 of mortgages
00:35:20.780 don't we have
00:35:22.440 to bring down
00:35:23.260 the cost
00:35:24.120 of home building
00:35:25.500 materials
00:35:26.240 I mean
00:35:26.720 roofing materials
00:35:28.120 bricks
00:35:28.860 wood
00:35:29.500 all the things
00:35:31.000 cement
00:35:31.520 all things
00:35:32.080 go into
00:35:32.500 home building
00:35:33.000 absolutely
00:35:33.680 absolutely
00:35:34.740 but under
00:35:35.180 Biden
00:35:35.540 Roger
00:35:35.920 all these
00:35:36.640 materials
00:35:37.220 went up
00:35:37.920 they went
00:35:38.300 sky high
00:35:39.120 and now
00:35:39.560 we're trying
00:35:39.960 to wrestle
00:35:40.420 them
00:35:40.720 and wrestle
00:35:41.640 the ascent
00:35:42.400 back to
00:35:43.560 normal levels
00:35:44.780 I mean
00:35:45.040 it was crazy
00:35:45.640 what had
00:35:46.000 gone on
00:35:46.420 we really
00:35:47.460 have to
00:35:47.800 give credit
00:35:48.440 Roger
00:35:49.660 to President
00:35:50.840 Trump
00:35:51.240 because
00:35:51.740 you look
00:35:52.840 at what
00:35:53.180 has happened
00:35:53.800 to oil prices
00:35:54.580 which are
00:35:55.140 a leading
00:35:55.400 indicator
00:35:55.920 for some
00:35:56.340 of us
00:35:56.540 you look
00:35:56.880 at what's
00:35:57.160 happened
00:35:57.400 with groceries
00:35:58.120 you look
00:35:58.840 at what's
00:35:59.100 happened
00:35:59.260 with eggs
00:35:59.800 now we're
00:36:00.800 starting to
00:36:01.240 see it
00:36:01.520 in some
00:36:01.800 of these
00:36:02.020 products
00:36:02.480 Roger
00:36:02.860 and that's
00:36:03.700 absolutely
00:36:04.080 critical
00:36:04.540 drywall
00:36:05.640 has become
00:36:06.240 more affordable
00:36:07.620 lumber
00:36:08.480 has become
00:36:09.040 more affordable
00:36:09.840 kitchen and
00:36:10.760 bath countertops
00:36:11.600 have become
00:36:12.080 more affordable
00:36:12.820 and so
00:36:13.760 these things
00:36:14.320 are very
00:36:14.680 important
00:36:15.140 because as
00:36:15.620 you said
00:36:15.920 it takes
00:36:16.280 two to
00:36:16.640 tango
00:36:17.060 you need
00:36:17.660 the products
00:36:18.300 and you
00:36:18.860 need the
00:36:19.200 mortgages
00:36:19.660 to be
00:36:20.000 affordable
00:36:20.400 and one
00:36:21.640 without the
00:36:22.120 other
00:36:22.360 you're going
00:36:22.840 to be
00:36:22.980 in trouble
00:36:23.420 and thankfully
00:36:24.920 we have a
00:36:25.360 president
00:36:25.700 I believe
00:36:26.340 who understands
00:36:27.040 that
00:36:27.400 as the
00:36:29.460 chief
00:36:29.840 regulator
00:36:30.460 for federal
00:36:31.520 home loan
00:36:32.040 banks
00:36:32.400 what have you
00:36:32.820 told the heads
00:36:33.400 of those
00:36:33.780 banks
00:36:34.140 I told them
00:36:35.480 we got to
00:36:35.780 get rid of
00:36:36.160 climate
00:36:36.540 we got to
00:36:37.000 get rid of
00:36:37.400 DEI
00:36:38.020 as a result
00:36:38.860 of you know
00:36:39.660 what we look
00:36:40.580 for when we
00:36:41.140 go to hire
00:36:41.580 board members
00:36:42.220 it's crazy
00:36:42.980 that we are
00:36:44.180 focusing on
00:36:45.160 climate
00:36:46.000 and DEI
00:36:47.420 in terms of
00:36:48.720 lending money
00:36:49.780 to people
00:36:50.280 at a local
00:36:50.860 level
00:36:51.140 we need to
00:36:51.580 focus on
00:36:52.040 lending to
00:36:53.040 banks
00:36:53.480 we need to
00:36:53.900 focus on
00:36:54.360 lending to
00:36:55.000 businesses
00:36:55.500 we need to
00:36:56.040 focus on
00:36:56.580 lending to
00:36:57.620 things that
00:36:58.080 create jobs
00:36:58.820 not this
00:36:59.440 nonsense
00:37:00.520 DEI
00:37:01.300 and climate
00:37:01.840 stuff
00:37:02.200 so you
00:37:03.000 know we're
00:37:03.280 getting back
00:37:03.740 to business
00:37:04.240 Roger
00:37:04.600 and that's
00:37:05.440 our mandate
00:37:05.940 and that's
00:37:06.540 what we
00:37:06.780 told
00:37:07.000 I oversee
00:37:08.100 Roger
00:37:08.760 through that
00:37:09.300 position
00:37:09.760 through the
00:37:10.200 banking
00:37:10.480 side of
00:37:10.960 things
00:37:11.220 a trillion
00:37:12.600 dollars
00:37:13.260 one trillion
00:37:14.120 dollars
00:37:14.540 is on the
00:37:14.960 balance sheet
00:37:15.440 of these
00:37:15.760 11 banks
00:37:16.460 and you
00:37:17.980 know we
00:37:18.340 take it
00:37:18.700 very seriously
00:37:19.300 just like we
00:37:19.900 do the
00:37:20.180 7.8
00:37:20.820 trillion in
00:37:21.260 the mortgage
00:37:21.640 market
00:37:22.080 all right
00:37:23.740 I want to
00:37:24.060 thank our
00:37:24.560 guest Bill
00:37:25.580 Pulte
00:37:26.040 he is as
00:37:27.360 I say
00:37:27.920 the the
00:37:29.160 director of
00:37:30.120 the federal
00:37:30.640 home finance
00:37:31.660 agency and
00:37:32.480 the man who's
00:37:33.520 carrying out
00:37:34.340 President Donald
00:37:35.080 Trump's mandate
00:37:35.860 to make
00:37:37.040 housing affordable
00:37:38.800 again and
00:37:39.780 available again
00:37:41.140 he also as
00:37:43.440 has been
00:37:43.840 reported
00:37:44.320 recently sent
00:37:46.100 a letter to
00:37:46.760 the Department
00:37:47.180 of Justice
00:37:47.720 referring New
00:37:49.060 York Attorney
00:37:49.520 General Letitia
00:37:50.580 James to
00:37:51.920 that office for
00:37:52.960 what his office
00:37:54.040 investigators
00:37:54.820 found as
00:37:55.540 a serial
00:37:57.040 series of
00:37:58.100 actions that
00:37:59.160 he and his
00:38:00.660 investigators deemed
00:38:01.820 as mortgage
00:38:02.820 fraud the next
00:38:03.560 step will be
00:38:04.060 left up to
00:38:04.760 the Department
00:38:05.720 of Justice
00:38:06.280 it has been
00:38:07.540 confirmed by
00:38:08.220 FBI Director
00:38:09.180 Kash Patel
00:38:09.940 that they are
00:38:10.660 investigating
00:38:11.320 it's also been
00:38:12.480 confirmed that a
00:38:13.400 grand jury to
00:38:14.540 look at those
00:38:15.240 claims has been
00:38:16.900 impaneled in
00:38:18.020 Virginia we will
00:38:19.180 keep you up to
00:38:20.120 date on that
00:38:20.940 when the
00:38:21.860 president decides
00:38:22.760 whether or not
00:38:23.700 he wants to
00:38:24.320 take Fannie 0.97
00:38:25.220 May and
00:38:25.960 Freddie Mac
00:38:26.580 public as he
00:38:27.560 speculated he
00:38:28.820 may do in a
00:38:29.840 true social
00:38:30.400 posting last
00:38:31.080 night Bill we'd
00:38:32.140 love you to
00:38:32.480 come back in
00:38:33.060 the Stone
00:38:33.420 Zone and
00:38:33.940 talk to us
00:38:34.540 about the
00:38:35.060 implications of
00:38:36.260 that so
00:38:36.780 thank you again
00:38:37.600 for joining us
00:38:38.360 great talking
00:38:38.960 to you it's
00:38:39.740 great to have
00:38:40.280 you for our
00:38:41.020 friends out there
00:38:41.780 listening to the
00:38:42.720 Stone Zone
00:38:43.200 God bless you
00:38:43.940 and God
00:38:44.280 speed until
00:38:45.380 tomorrow
00:38:46.060 thanks for
00:38:47.120 listening to
00:38:47.860 the Stone
00:38:48.420 Zone with
00:38:49.200 Roger Stone
00:38:50.060 you can hear
00:38:50.940 the Stone
00:38:51.480 Zone with
00:38:52.080 Roger Stone
00:38:52.860 weeknights at
00:38:53.880 8 on 77
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00:39:14.880 time for a new
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00:39:16.820 never have to
00:39:17.680 wonder what the
00:39:18.680 heck is going on
00:39:19.720 here