Page 154 - Aig News Today

Kitchens like you had mentioned and one of them is 26-year-old stephen cart, a former aig employee and got into the pop sickle business when the temperatures started to heat up here, in atlanta and he makes hand-made gourmet fresh fruit popcicles and they are a huge hit in atlanta and hes on a busy street corner and sells out every day and a georgia woman took her grandmothers old cornbread recipe and is now selling that on-line and she said shes selling it to people all over the nation, if they...

Swamp -- it will cost more money to fix finance fannie and freddie than the others combined. >> neil: do you think all this rescue stuff, whether its banks or fannie and freddie or aig and all these other guys, it prolonged the agony? >> well, i think thats very hard to know. certainly -- >> neil: they say it would be a great abyss if we hadnt. >> theres a debate for the next 30 or 40 years about that question. i hate -- some things the government has done probably prolonged the crisis. dragged ...

>> ill agree that was the accelerant. yeah, man, fannie and freddie are going down. you never believed them. it was wacky. but when the fed went to zero rate policy and you had the epic housing bubble, you had an impossible mission for fannie and frooed dee. make a profit and take this toxicity on your books. >> now, thats the third phase. by the way, geithner was number two in the wealth transfer. it was paulson was the one who actually did -- >> i may have insulted geithner. im sorry. >> he wa...

The equity shareholders got the hair cut. they got killed. the bondholders got what was left and the depositors were covered and they-- >> and they sold it to a profitable bank. >> why we would get away-- the only issue here, now if im a bank like citigroup, have more of my deposits overnis in the united states. the other countries have to bsin a no bailout pledge as well. mutually assured destruction, theyve got to get out testify. >> brenda: weve seen bailouts of foreign banks already and not ...

Foreign banks were also on the receiving end. aig was deemed too big to fail. the insurance giant received billions of dollars in a taxpayer-funded bailout but an independent congressional oversight panel now reveals that a large chunk of that money went straight out of country to foreign banks. in the aig bailout alone, germanys deutsche bank received $11.8 billion. the french bank, $11.9 billion and the european bank, $4.9 billion. >> banks in france and germany received billions from aigs res...

Now. you would think it would be an opportunity for them. its really interesting to see haley barbour in this because you say go back enough to remember him as one of the lead lobbyists in town. hes done a good job as governor of mississippi. but it suggests why this is as wide open as it is when hcht haha halay can step up there. heres one that will make a lot of people mad. seems the federal bank bailouts were good for europe banks. france and germany were among the greatest beneficiaries of...

Turn the guns on themselves in some respect. this is the first time, this is the subject where you have to say to yourself, whos at fault? were at fault. i think its very hard to say that aloud. i think they wanted to get the first piece of the reform through the door before the election so they could actually start working on this next time. however, i worry that the next time, there wont be a next time. thats the problem. >> so barack obama, and chris dodd, and barney frank, decide to reform w...

Home? nancy pelosi, you heard jonathan alter reference it. calling the house back from summer break to vote on another megabailout. the bill aimed at helping teachers and government workers. much like with aig, no strings attached. at what point will we start demanding changes when we deliver our money? we are back with two jonathans right after this. [ animals calling ] ♪ [ pop ] [ man ] ♪ well, we get along ♪ yeah, we really do - ♪ and theres nothing wrong - [ bird squawks ] ♪ with w...

Worry about water and rangel? how about delay, cunningham, foley, vernon, miller -- >> theyre not in congress anymore. >> theyre not because -- >> ron, theyre not in congress anymore. >> thats right. but during the time the republicans were running the congress, they didnt have an open ethics process. these members were protected. which ones were -- which republicans were having sex with pages? which ones had their homes raided? which ones went to prison? how many of the members were members thi...

Functioning today because of the good graces of americans like you and i who pay our taxes. show me the money. before you start giving money to even charity or lobbying congress, start to pay your debts back. americans want to get paid. i want to get paid back. so i can give to charity. >> jamie: so if youre a stockholder, youre a taxpayer listening to this and you think thats not fair, i want to do something about it, can you? >> unfortunately there is probably not a lot you can do, unless your...