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Somewhere down the line we're going to have a battle with inflation and some of these assets could be in trouble. >> julie: do you think we should move our stocks into bonds? >> you want to have some bonds, but i'm going to tell you, don't get a false sense of security. maybe not this year but some time down the line, bonds are going to face difficulties of their own. american stocks are tremendously undervalued. had there might be the greatest story there. this is huge trend, $182 billion into bond. -- >> and should we be nervous considering the trend of the stock market in the last two weeks...

The first time since 2008. his tone, richard is pretty unapologetic with tenure with aig. listen. >> we have gone through obviously one of the worst crisises since anybody -- in anybody's lifetime. as we move through this, we come through the financial crisis, the only thing i can do is lock at the existing portfolio and say it is performing through this crisis and it is meeting the standards that we set. i think our reviews were rigorous. i think the portfolios are with standing the test of time. >> what about that $182 billion series of bailouts from taxpayers to keep the company afloat and ...

Listen. >> we've gone through obviously one of the worst financial crises in anybody's lifetime. and as we move through this and we come through the financial crisis, the only thing i can do is look at the existing portfolio and say that it is performing through this crisis and it is meeting the standards that we set. and i think our reviews were rigorous. i think the portfolios are withstanding the test of time. >> what about that $182 billion series of bailouts from taxpayers to keep the company afloat and the net loss to taxpayers -- the treasury expense will be $36 billion? >> it wasn't up...

Down the global economy. >> so what is happening today? what's happening with capitol hill, and what do lawmakers -- what questions are they asking and wanting answers to? >> well, what they're trying to find out is the relationship between aig, goldman sachs and complicated derivatives. and the man who ran the division that was at the heart of the problem for aig, a man named joe cast anno who we will hear from today. he has been the subject of two federal investigations, cleared of any wrongdoing, but in the eyes of many, he is the one who ran the division that ran aig into the ground becaus...

Holy cow! okay. so let's find the group of people. okay? the people that believe -- it's cloward and piven. i don't need to explain this. the deficit for april came out and it's $82 billion, that's four times more than the april deficit one year ago and two times more than what they projected in worst case scenarios. cloward and piven. this is another way to collapse a system. fundamentally transform it. if your system understands wealth wealth and the free market, you stop the free market and take away the wealth. if you do that, you better do it quickly and you better hope that somebody does...