you want to get hank greenberg angry? >> i've known hank for years, if hank wins the case on aig, the company stole it from shareholders. a lot of people think fannie mae stole it. greenberg loved the story. he said he's heard about the trade as well, so it's out there. but fox business was the first to report it. then he took umbrage with the fact that in the story i described it as he was ousted as ceo in 2005 without giving the context. eliot spitzer, former attorney general brought a case against him. spitzer essentially forced a firm to get rid of greenberg, that case is still ongoing since 2005. most of the charges have been dropped. liz: have been dropped. most of eliot spitzer's charges against hank greenberg have been dropped. >> spitzer kept it going, andrew cuomo kept it going and now eric schneiderman. liz: what do they have against hank greenberg? >> i actually like eric schneiderman. i said why don't you just settle it. he said quote, unquote, he might be willing to settle it if schneiderman is willing to acc

hank greenberg wins his case against the federal government over the legality of the aig bailout, he the government in bailing out aig in 2008 -- liz: during the financial crisis. >> deluding all the shareholders by giving money and taking stocks. he said that was ill gln egal. why? they didn't do it the other companies. on top of that, he's saying there were other alternatives which they ignored. federal claims court is -- it's before a federal claims court. thomas wheeler is the judge who's a pro-shareholder rights judgement. he ruled in the proceedings, certain rulings -- many rulings -- liz: he's been making noises that we think he might go in favor of hank. >> so he's what you have, you have a trade going on here where people think that theory, protecting shareholder rights, will somehow redound, is that the right word? liz: or set a precedent? >> why is that? they are arguing similar stuff in court. fannie and freddie, as you know bailed out in 2008. you know, shareholders wiped out. but here's an interesting nugget here, the government since then has been taking all the profit

i was speaking on the phone with hank greenberg. mr. greenberg kind enough to reconnect with us.alking about the life of the former aig ceo -- when mr. benmosche first took over as ceo, what was it that inspired staff and aig -- at aig? >> it was love. he is a fighter and he fought for the people and fought against the bureaucrats that were trying to set rules for how the company would operate. he provided an anchor for them. he fought on their behalf. something you want a ceo to do. you have bureaucrats trying to interfere with the operation not recognizing the problems that had to be confronted. i thought he did a great job. >> what did mr. benmosche teaches the financial community about leadership during a time of crisis? >> it's what he did. he stood up and fought for what he believed was right. that's what a leader does. he did that very well. i'm proud to have called him my friend. >> hank greenberg, the former aig chairman. discussing the life of robert benmosche who died today at the age of 70. thank you for your time. it is time for today's latin america report. there wa

liz: remember, hank greenberg's lawyer, david boyce one of the best litigators out there.udge is sympathetic of the argument. >> of shareholders rights. i wonder if that transfers to fannie and freddie. they were always part government entities. they had the government backup. are private companies the same thing as that? i don't know. liz: i told you not to cut your hair that short. your hair is shorter than martini on one flew over the kucky's nest. >> he has a badly spot. >> you belong in the cubic auto's nest. >> the guys thought -- how many shows in a row have you done on vodka? you're the lush. liz: that's me. don't you know me. no. (?) >> you are such a wimp when it comes to booze. i will say that. you and hannity. hannity is a wimp too. >> he doesn't drink -- >> he drinks with like umbrellas coming out of -- >> the month heat zero trade. >> i don't think they're ma heat owes. i think they're girlie. cosmo politans with sugar. >> thanks. don't forget to hit up this. (?) fox business' hot new prime time show "strange inheritance." tonight, hear the story of a family

and same agos hank greenberg is suing aig.g can win, that will show shareholders rights and that should transfer over to the fannie mae. >> no, aig is a private company that was bailed out by the government. i think illegally. oh, you think, illegally, too? >> judge lambert, one of the most respected judges in the countries slammed these guys. i know your feelings are hurt, but ultimately you have to go up to capitol hill because in the constitutional role of the federal courts there's nothing i can do for you. that's what he said in his opinion. >> so there are no shareholder rights here. >> under the law passed during the crisis, the regulator for fannie and freddie-- >> they're effectively a nationalized company. >> they always were. >> what was their company thinking-- i don't know, these are smart people, but-- >> you think he'll lose? >> he didn't change them from the companies, a compare company, krohning has control. >> and you know over the years what gave them a leg up, the backing of the federal government, almost o

former ai gibbs chief hank greenberg not backing down from his war with the u.s. of the insurance giant's bailout during the financial crisis. but should he win his multibillion dollar suit? that could open the doors for money managers upset with the way fannie mae and freddie mac bailouts were handled. joining us with the latest details is charlie gasparino. sounds like you've got a jar of scorpions here. >> yeah. listen, i'm not advocating that people put on this trade. fannie and freddie are both, as you know, penny stocks. but if you lock at the charts lately -- look at the charts lately, there's been a pop in the stock. and what i understand the pop in the stock is somewhat attributed to money managers, at least some managers putting on a greenberg trade, as they put it. they're snapping up shares of fannie and freddie, basically predicting a greenberg victory. now, why is this? greenberg is saying the government came in and illegally confiscated shareholder value when it did the bailout of aig, essentially wiping out shareholders, right? including himself. w

i had a relationship with hank greenberg, and i still do. k was ousted by eliot spitzer who forced the board to push him out because he drummed up the regulatory charge, came down to as much ado about nothing, almost none of the charges still exist. aig was led by martin sullivan who did not have the chops to run it. >> this guy did. >> it would have been great if ben took it over when hank left. he got it. >> he didn't take crap from anybody. >> didn't take crap from anybody. i don't think anybody could have run it as well as hafrpgnk did. >> he said i'm doing things my way. you're that way. >> it wasn't that easy to tell the federal government no at that point. infused a tremendous amount of cash to aig. >> has all that been paid back? >> a lot of it has. >> he pushed that? >> he pushed that. what he didn't do he didn't throw the baby out with the bathwater he. knew to pay people if you didn't pay the people, despite the fact that the company was bailed out, well i hate to say it, who knows what could have happened next. this is like dealin

if you think hank greenberg will prevail on aig right meaning the federal claims court will say shareholder rights. the federal government did do something nasty when it deluded shareholders during the bailout of aig, hank was shareholder, you think that is good for fannie mae shareholders. shareholders are saying the government is sucking all profits out of fannie mae. they're suing and using same sort of thing that hank is hearing about shareholder rights. if you think hank will win. that is good for the stock. the stock popped. i got bombarded with patrols attacking me. i'm for getting rid of fannie mae and freddie mac. the trillions, are essentially housing advocates, repay treat the money government took out of fannie mae and freddie mac they want to repatriot. so do hedge fund managers. bill ackman suing in federal claims court, repatriot money. give it back to freddie and fannie. housing advocates want the lend more to keep them in business. interesting alignment lefties sported people like elizabeth war return and bill ackman and all these others -- cheryl: full story at foxbusiness

. >> if you think that hank greenberg is going to win his case against aig, that the government -- lizovernment. >> -- basically screwed over the shareholders, you think that fannie mae which shareholders have a similar case against the government which the government basically extrapolated -- educate tracting all the profit extracting autoprofits out of fannie may. the stock went up, it's gone down now, and the fannie mae trolls who think that, you know, the government should give all the profits back to fannie may finish. liz: can we see a one week maybe? or a one month? we've been showing the one month because that's where the it's truly pronounced. >> you see where it is now. liz: remember, these companies have nothing to do with each other except they both had government intervention. >> bailouts and the government extracting profits from them in different ways. in hank's case it's diluting the shareholders. in this case literally the government is using the profits -- fannie mae's profitable now, sending it to the treasury. liz: here's where it sold. >> as you know, i'm critical