Page 144 - Aig News Today

Aig. a lot of people did this. when lehman brothers went under -- first it was google, aig, and i heard one report saying they might be one of the next to go. i range my bank, and i tried to get all my money out of that. >> no chance. >> six weeks later i finally did, but i know there are thousands of people who are still trapped without getting their money back from aig. i mean, its extraordinary that everyone just assumed that my end of this process that the ordinary punter, if you like, that ...

Did you see what happened coming in any way? >> honest answer, i didnt. i didnt -- i dont want to say that i didnt see that we were going to have problems. i did. i wrote articles saying that there were going to be problems. did i think that we were going to be on the edge of -- did i think we were going to see a bank like lehman brothers go under, that aig was going to almost falter and were going to be living in this 9%, 10% world of unemployment, and people were talking about 25% unemployment...

Ended up with, what about the real estate? i mean, it was one of those things where you -- you know, its the way people now in the modern politically correct world try to get something across that they cant be sued for. real estate, its a little himky? >> i think they knew there was a problem. did they know that it was going to become this kind of problem? i dont. i think a lot of people today -- some people want to revise history. they want to say everybody knew it. it was there for the taking....

Aig. that of which of course went to goldman sachs. 23.7 trillion, with a t, between the federal reserve, and of course the tarp which is a mere 2% of the financiales aance. and to this day, the government support remains across the board and the banking system bigger than its ever been. a movie has a beginning, a middle and an end. but unfortunately the reality for us, is we still havent witnessed the closing scene of the real life too big to fail that we currently live in. coming up, a littl...

Imersed in wall street and business. did you see what happened coming in any way? >> honest answer, i didnt. i didnt -- i dont want to say that i didnt see that we were going to have problems. i did. i wrote articles saying that there were going to be problems. did i think that we were going to be on the edge of -- did i think we were going to see a bank like lehman brothers go under, that aig was going to almost falter and were going to be living in this 9%, 10% world of unemployment, and peopl...

Of all these promises, leary of the fact that, oh, the economy is in recovery. really? how come i dont have a job? how come 9%, 10% of the country doesnt have a job? you cant see a job coming. its not like all of a sudden theyre going to start rebuilding factories in detroit. >> there is gold and silver that became a safe haven. it was t had a bit of a blip last week. the thing is people are desperate to find somewhere thats genuinely safe for their money. i was so shocked by what happened with ...

Desperate to find somewhere thats genuinely safe for their money. i was so shocked by what happened with this aig thing. suddenly this money that was mine, whenever i wanted it -- i was told that it was, i would only get back 10% of my money. this was a bank. this was not some kind of punt i had a casino. >> im taking care of my mom right now who had some problems in rhode island. i have been around the common man in the hinterland, what people call flyover country. i say maybe they should drive...

I dont like it. nobody likes it. lets just suck it up and do it. >> story is, we did everything we could for leiman. >> as we found out this is no time to celebrate. >> we should talk to the president about how to contain the damage. >> before you speak to the president, we are looking at another problem. >> aig. >> by now, we all know the story of aig. they have been running basically insurance fraud where they were insuring everything out there with no ability to pay on it but they sure did co...

Ever been many history shows that people, you know -- the common person, among which i happily count myself, is leary of all these promises, leary of the fact that, oh, the economy is in recovery. really? how come i dont have a job? how come 9%, 10% of the country doesnt have a job? you cant see a job coming. its not like all of a sudden theyre going to start rebuilding factories in detroit. >> there is gold and silver that became a safe haven. it was t had a bit of a blip last week. the thing i...

you can blame the bankers that went wild. regulators that werent minding the store. >> what goes on behind closed doors on wall street? >> we stand strong, and on the other side well eat golden sludge. >> could it happen again? >> i dont think anybody realized that we were within a day away from a major international catastrophic and economic meltdown. >> james wood from "too big to fail," andrew ross sorkin, the man who wrote the book on the crisis. this is "piers morgan" tonight. g...