Obama's Typical Tuesday: FannieMae, al-Qaeda, Leno

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Aug. 6 (Bloomberg) -- President Barack Obama will call for Fannie Mae and Freddie Mac to be replaced with a government mortgage reinsurer that would sustain losses only in catastrophic circumstances. Julianna Goldman also reports on the President's talks show appearances on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Julianna goldman is on the story.

Why is the president spending time today talking about housing?

It is all part of his middle- class agenda.

This is a really thorny political issue, what to do with fannie mae and freddie mac.

What the replace them with?

These are the government-backed insurance giants.

The air being wound down now.

Their owner guarantees half of all u.s. mortgages.

Today the president is going to argue that financing the nation's mortgage market should come primarily from the private sector, that taxpayers are never on the hook again.

Remember in 2008 the gsc got a 100 $75 billion taxpayer bailout.

That will be in its place?

He wants to see a government mortgage reassured of last year's back strap only case of catastrophic circumstances.

In those cases the private market should bear most of the losses and would have to be wiped out before the government pays out those catastrophic guarantees.

And a principal of a senate bill that has been introduced by bob corker and democrat mark warner, administration officials have been quietly working behind the scenes with them to help them crack this proposal.

I want to talk to you about the president's plans later in the day.

He is going to be on jay leno shows tonight.

Why put the president on a talk show?

And housed -- and how does the white house define a win?

Clucks the president's ratings have been on a downward trajectory.

This is the sixth time the president has been to the tonight show.

This is his fourth time as president and the third time he will not be -- and the first time he will not be running for reelection.

He will hopefully talk about a wide range of issues.

More funny and relaxed.

The president is more at ease and we saw some of this back in october when the president made light of his risks with donald trump.

Crocs what is this thing with you and trump?

It is like me and letterman.

This all dates back to when we were going up together in kenya.

[laughter] all laughs aside this is also an opportunity for the president to weigh in on some serious issues for the first time, like the new al qaeda terrorist threats, the embassy closures, and also possibly edward snowden and russia granting him temporary asylum.

We know the president has great comic timing.

No reason not to use it.

This text has been automatically generated. It may not be 100% accurate.

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