Fide Aig News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Spelled, they've not heard the name of this country. all of a sudden something explosive and potentially very, very important is happening there. >> yeah. it is. i mean, it is one of those countries you don't hear anything about. normally it's a difficult country to place as well geographically because it comes from the former soviet states. don't have much of an international profile. of all of those states, this one, the united states is perhaps the most crucial because it does have that strategic manas air base. it's a transit facility by the government. they want to down play the american ...

We're laying some people off. and, yes, e rk, we're going to o furlough others or relieve them of their duties because the city controllers informed us on may 5th we will be out of cash. that doesn't mean that we're in a situation where we won't be able to pay our bills, but if i don't do these actions now, we won't be able to pay those bills. >> what gets you back into a situation where los angeles is a city that people want to be in because it offers opportunity and services like a big city should offer? where do you get back to that? how do you get that revenue back that you've been losing ...

Mechanism. so, you mentioned aig. under these type of bills if you had an aig situation occur again there would be available a regulation mechanism which, again, you can impose losses on shareholders and repudiated employment contracts and have them continue to perform instead of paying them off, there are a lot of advantages that worked well. >> while most people are mad about the bonuses fide aig, the real story was something was going wrong we should have been able to stop before it went wrong. i'm more interested in the regulation than the bonus issue, we want to make sure before they fail...

>> absolutely. >> they need -- who do they want to charge more to or less to? is this like an 18-wheeler going through pays a higher toll than a motorcycle? >> look, there is actually something here to this argument and it's a little bit nonsubtle. let's play pretend for a second, i want to be as nasty as i can, the worst-case scenario just for sake of an argument. and let's say you are comcast and they have their version of hulu and people can watch video online for free, but it's not really free, because they're paying for their relationship with comcast. and let's say that netflix wants to ...

Up as well. but this financial crisis has brought us to a situation where many people have lost their homes. more than 28,000 families lost their homes over the last two years. we have a 14 1/2% unemployment rate, which, all together, have really impacted the economy and our revenues which is why we've had to make some of these drastic cuts. >> and let's just explain this for our viewers who don't know this. what happens? does something have to happen? if something happens will you not reduce city services like libraries, parks, planning public works, or is that going to happen? >> there's no ...