Page 66 - Aig News Today

Really the main thing the folks here are talking about, marco rubio picking up a key endorsement, the aig endorsing him, and secretary clinton also hoping to gain some critical capital in picking up endorsements also. jose? >> kristen welker, youve only been there a few hours, but a few hours in puerto rico is wonderful hours spent. good seeing you. >> indeed. thank you. now back to the migrant and refugee crisis thats growing across huge parts of europe. in hungary, thousands of refugees that...

And what they did once they got control of aig, they used aig as a back door bailout for many other institutions who borrowed money also and charged 2.5 and 3% against the 14%. then they sold off assets of aig and made $23 billion of profit. >> you had some sizable names testifying. ben bernanke testified. go through some of those testimonies for us and tell us what was really the most important in terms of dictating or getting judge wheeler to make this ruleing. >> well, i think that -- hank pa...

But tell us where you stand on this. >> theres no question the government has gone way overboard. business is hampered. it cant do the things it should be doing. its impacting growth and creation of jobs. we got to bring the pend you lump back towards the center. >> you represented 275,000 shareholders of aig, sued the government and won. the judge ruled that in fact the government was illegal in acquiring almost 80% of aig back in the dark days of 2008 and charged the company 14% interest rate....

Mit. a big victory for aig. a federal judge ruling that the federal reserve did overstep its authority. the chairman of and ceo of aig will be joining us next. if rs ilize sites. multiple foreign objects in the body. tweezers. (buzz!) (buzz!) if youre the guy from the operation game, you get operated on. its what you do. (buzz!) if you want to save fifteen percent or more on car insurance you switch to geico. its what you do. aha! cinnamon. milk. cinna-milk. cinnamon

The one to punish? >> because there was nobody there to defend aig. it all started, as you know with a former attorney general who was trying to become governor. >> elliott spitser. >> yeah. and wanted to use aig, me personally, which he did. and the board collapsed and i left aig. and so there was a vacuum. and so thats what the government took advantage of. >> thats what hank paulson. he said it was political.t ner. >> good night ner i thought was the one that was the least transpasht. >> what...

Market of the swiss currency relative to others. so talk to us about, give us some color on these big events and how you dealt with this being at the helm of credit suisse. >> i think the events in 08, particularly in september 08 were obviously pretty cataclysmic for the markets around the world. i was personally at the table down at the fed on the weekends as were most of the major bank ceos. interestingly, i think the beginning of the crisis it was a very global group that was basically looki...

After the melt down he was the money guy who stood up. the thing is he didnt have to. comfortably enjoying retirement he battled aig to make things right and nervous regulators in washington hoped would make a financial industry right. back in august 2009 in the middle of a melt down that seemed like a difficult task the giant insurer looked helpless and with a taxpayer rescue it looked hopeless. after a not so gentle bend -- >> we fixed the businesses. the fact is that the united states governm...

Money to aig to create shareholder value and restore shareholder value after the disaster. so we have an obligation to run this company the right way or we have to be mindful that we have to pay the government back as quickly as possible and not take advantage of the good will of the american people and the u.s. taxpayers and make a profit on those taxpayers when they didnt give us the money to make a profit. they gave us the money to save the financial system. >> all demanded was that the gover...

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