President Barack Obama hosted the Yankees today at the White House to celebrate their 27th world championship.

In his remarks, President Obama mentioned a few Yankees (Jorge Posada, Joe Girardi, Derek Jeter). He also talked about Mark Teixeira.

Obama told the story of when Teixeira was fresh out of college and had just signed his first professional contract. Teixeira returned to his old high school and asked how much it would cost to set up a scholarship in the name of a friend who had been killed in an auto accident. The cost? $75,000. Teixeira wrote the check immediately and has been funding the scholarship ever since.

Erik Boland will have more on this story later.

Obama also praised Girardi for getting the team involved in HOPE week, a program the organization runs to help people in need.

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Barbara Barker wrote about Camp Sundown last July. Camp Sundown is a part of HOPE week.

Obama praised the entire team for visiting Walter Reed Army Medical Center earlier in the day.