now we wait for earnings from aig.e joining kelly in the next hour to detail those numbers. lots to talk about with him. has a finger on the pulse of the economy, the financial sector, interest rates, fed policy and all those important issues right now facing his industry and that stock is up about two-thirds of a percent going into the trade here. freddie mac popped a little while ago. bill ackman will be joining us, the billionaire activist conference and his idea right now is in housing, and freddie mac specifically moved higher. it's up 5% all of a sudden on those acman comments. we'll be getting him to clarify that and his feeling about that coming up a little bit later. anthony chan and john buckingham are still with me. do you see an appreciable pickup? been hit and miss in the first quarter so far? >> this decline in mortgage rates has occurred for a million reasons and is going to help the housing market. we know that there's pent-up demand and that the labor market is improving. all of these factors will be p

aig paid big fines. but hank kept fighting the case.ainst spitzer, he fought it against andrew cuomo, and now he's fighting it against -- we're talking almost ten years later -- liz: how old is hank? >> hank is 89. liz: still full of vim and vigor. >> one of the things schneiderman wants him to do is, you know, be barred from the securities business as part of a settlement. hank won't do that. now, why won't he do that? he says that star won't ever be a public company. liz: yeah. >> i think it's more than that. i think he has an issue this europe, particularly in the u.k. that if you're barred in a u.s. securities market, it's hard to operate. and that would be a problem, business problem for star. so that's where we are right now. trial's likely to take place in 2015. we're going to be there with a camera. liz: absolutely. you'll be there. >> i'll be there. if i'm still working here, i'll with there. liz: in our business, that's what we've always got to say. closing bell ringing in 28 minutes. turning a dream, a real dream into a reali

whether they used aig and the rescue of aig to rescue others. >> well, that's the contention that greenburg said. remember, greenberg was out of there, he was forced out in 2005 by eliot spitzer. new management came in. the whole contention of his lawsuit is that they basically, you know, pilfered aig. screwed over the shareholders and used the bailout to basically bail out morgan stanley, goldman sachs and all these other firms that were on the brink. it's great stuff in his deposition about how morgan stanley was, quote unquote, freaking out it was about to go under and goldman sachs was worried it was about to go under unless something major was done with aig and some of the other banks. goldman sachs has spent the past five or six years trying to say it wasn't bailed out, didn't need the money, it was completely hedged, there was no problems there. these depositions by geithner show just the opposite. >> what are you doing in vegas? >> what happens in vegas stays in vegas, neil. >> fair enough. fair enough. >> i'm covering a great hedge fund conference. it is the best three days of fina

three times before aig blew up.mportant because it insured all the toxic debt on the books of the banks. so if aig goes under -- >> he is now saying he is nose nostradamus. i heard him say you can't expect do you are double digit increases, when people use their homes ace piggy banks, verse saying he -- >> he gave speeches where re talk about vulnerables but he wasn't banging the dream, and according to his deposition, he had no idea that aig was such a linchpin of the -- >> so you think he's a liar, liar, pants on fire. >> here's what i would ask tim guider in and ben bernanke and paulsen do, release the depositions. >> never see it. >> i've seen it. >> never going to see them released. >> we should be able to see that. they're just putting their spin on the financial crisis, and you don't learn from it ump you learn from hi deposition -- david boyce, great democratic lawyer, took the depositions. it's worth the public seeing every bit. >> not the case he is making. >> charlie, the pest -- best on the planet, and h

couple oftioned a them, aig topping the list. financials have dropped the most, aig out with earnings and profits were down 27% because of higher claims cost and that is pushing down the shares sharply today. the worst performer on monday financials. -- among the financials. twitter is at the lowest price since the ipo. we have been awaiting the expiration of the share lockup. for saleon available today, that is quadruple the amount available for trading. some insiders have said we are not selling but the market is. we are seeing a lot of selling in twitter today. and discovery communications leading the consumer discretionary stocks after reporting revenues that trailed estimates. though shares are down by the most in that consumer discretionary group. >> time now for the big story, it is m&a in big pharma. the company is seeking to solidify its position as merck products. you've got clairton, coppertone sunblock. the bayer ceo explained the move. has a very strong u.s. position. -- than actually then bayer. theur intention is t

class number one is aig. first-quarter profit fell 27 cents. joining me on my radio program today at 12 noon eastern time on bloomberg radio and sirius xm channel 119 and also on bloomberg 1200 and 94 2.n five sf -- fm hd to -- let's now get on the markets. i want to bring in the chief market strategist who oversees about 200 million dollars in assets. investors are in danger of putting on blinders in his call onto techno -- tectonic shifts in the global economy. some investors, you say, are being way too defensive. how do you come up with that? life our clients by and large are on the market and investors continue to be on equity and if you look at the driver markets earnings,t corporate 16 out of the past 17 quarters have been positive growth. this quarter is another positive surprise. class people are not paying attention to earnings. they're paying attention to revenue growth. >> bottom line at the bottom line and you want to pay attention to earnings. revenue comes and goes. the underlying driver is tectonic shifts varied energy, global tr

first story was about aig and the cause of the aig bailout. one of the interesting side lights of this was that while many of these companies were creating these bad loans, a lot of them got smart and realized that all of this was unsustainable so as their selling all these bad loans out into the world, they started to bet against them at the same time, and where did they bet against them? they went to companies like aig, where they essentially bought insurance policies against their own product, and what the didn't know is that they would ultimately blow up their own bookie by doing this, and that's the back story to the aig bailout, which is that aig was crushed under the weight of its own portfolio and its financial products portfolio, which involved a number of these sort of credit default swap bets against the subprime market. so essentially these guys bet against their own products, they blew up their bookie, and when their bookie was going to go over, they went to the federal government and says this is intolerable, we need a federal ba

this case was brought by eliot spitzer in 2005 forcing hank to resign as the head of aig. the case has now continued since 2005 involving alleged accounting irregularities when he was the ceo and chairman. there is no intention to settle did why are we reporting this? fox business has learned there were talks between greenberg's office and new york attorney general about settling this case over the last year. two times it was serious negotiations about it. essentially break down over how much hank would pay. but it should be thrown out of the security business. he now runs asterisk companies. it is a big insurance company, private. he may want to go public. but he needs to remain in the u.s. securities business in order to qualify in london in the uk. regulators look down on companies where the ceo is thrown out. here's what we do know. in recent weeks hank greenberg has had a democratic operative, the head of his p.r. he has outed his old head of p.r. schwartz sparred over the approach to this snyderman case. he is an attack dog, definitely going from an attack dog to a g

david: brian, any indication from aig's number? aig has been up over the past three months. up over the past year. do you look at that number with any significance there? >> aig is so big and so complicated, i defy just about anyone to understand what is going on their balance sheet. they have loss carry forwards. it will take a couple days to figure out what is going on there. they're not losing any money so is probably pretty good. cheryl: robert frost, numbers at end of the day, tomorrow may it be more bullish? want to give you last word here, robert. >> everybody is trying to kill the bull. bears think bull market is over. everybody is calling for a correction in the market. maybe what we really got rather than 10% rebound in the market, here we are in may the market has been flat going into five months. maybe what we really got was a little bit of seesaw action rather than a big pullback. steady market throughout the first part of the year. we're very bullish. david: flat market is new pullback. that is interesting perception. thank you very much guys. brian we'll check

aig more in favor, a very good stock for us. we think aig over the next ten years, gets 10% roe and mid-60s stock price. >> your 13-f was out today. you have no more stake in general motors. why? >> i sold general motors for 39. i was always uncomfortable with it. i got three lexuss. two 2002s and one 2008. i'm cheap. i'm a frugal guy. i like to give my money to charity rather than the consumer. i can't find many american-made cars in the parking lot of my country club for my friends. it's a fine company. nothing wrong with it. very smart people like it. i can't kiss all the girls, not to be too sexist. so i found other things that make more sense to me. >> i mean, were you swayed at all by the most recent issues surrounding general motors? >> no, we saw before the issues, earlier in the year. >> you have a new stake in time warner cable. a new stake in dollar general. you want to talk about either? >> yeah, well time warner, we own comcast, so time warner was a -- >> our parent company. >> exactly. we have a combination -- >> f

taking on now, you can get yourself in trouble down the road and we just don't want to do that. >> aigres fell initially after hour, but during the regular session the stock was up a fraction to $52.72. the french government has opposed general electric's $13.5 million bid for alstom. ge maintains a proposal is good for everyone involved and is open to further discussions. ge shares fell slightly to $26.58. shares of tyson foods tumbled after the company came up short in its latest earnings report. the nation's biggest meat producer gave a cautious full-year outlook because of a virus sweeping hog farms and may cut pork production. the stock fell 10% to $38.44 making it the biggest decliner in the s&p 500 today. >>> orbitz worldwide posted a first-quarter loss blaming it on a charge from an income tax provision. the online travel agency did see higher overall bookings and an increase in revenue from a recent acquisition. it also forecast revenue for the current quarter above analyst estimates, but investors couldn't ignore that loss and shares fell almost 2.5% to $7.24. >> an engineer

big insurance company aig was created by hank greenberg. he is creating another one fairly large. if he settles were with a lifetime ban that hurts him with regulatory authorities in u.k. that really does hurt him. that is the pickle he is in right now. melissa: the beat goes on but for lower price. "new york post" record that apple lowered its purchase price for dr. dre's beats for $3 billion. it's a bargain now. it was originally reported at $3.2 billion. dre dig victory lap online. getting on forbes list before the deal was announced. denny, what does it tell you about celebrating the deal -- >> never talk about until the deal is done. melissa: signed. >> well that is the issue here. but if you look at number of subscribe is, which is always the way in that business that you put a value on the business, there aren't all that many subscribers. melissa: no. 111,000 for beats compared to 10 million for spotify. >> compared to 10 million, right. so that's the issue here. what is this business really worth. now by the way, the head phone business is probably worth more than the stre

tracy of aig. guy, i mean -- >> it's interesting.o you assess the damage -- a company gets hacked let's say. nothing necessarily goes wrong but the company's reputation is marred and people stop shopping at target for example. >> this is physical damage. >> there are other damages involved as well. i would imagine. i don't know that gets played into this. it's an interesting space. >> but even on the physical damage front it's hard to assess what can happen with the cyber -- >> is there a cap on these insurance policies? >> sure. well, we're providing up to $100 million in capacity which is a significant limit for the insurance market. what normally happens is as customers show the demand for this product which they have been asking for this coverage, other carriers will come into the space and companies will be able to buy larger limit if they believe these the type of exposure they have. >> thanks again. linkedin conference call when we come back. plus dr. jay will reveal which name stay tuned. >>> finally we're rocking out to some

samsung, aig, nasdaq facing leadership questions right now.hat does it say about the next generation of corporate leaders? insight from former medtronics ceo bill george who serves as director at exxon mobil, also a professor at harvard and bob herbold joins us, running a consultancy and serves on the board of directors at agilent technologies. what a team. glad to have you both. bill, i want to start with you. let's start with sam suns. that's such an interesting company. there's talk of patent infringement, all sorts of issues. people are wondering whether they have the right secession plan in place. >> this is basically a family-owned company. chairman lee took over from his father, now he's getting ready to pass the reins over to his son jay widely. i think it's a logical transition. he's well trained. he's been in the job 27 years, but samsung has done an amazing job and you have to say that chairman lee is the big gates of korea. they've done a fantastic job competing with apple. they're the only ones that have. so i think you have to gi

this is about merrill lynch, aig. the perception was, they were all going to fail by monday or tuesday if nothing was done. if they had failed, the rest of the system would teeter over. in retrospect, people look at lehman as the spark of it the fire. not quite true. the fire had a lot of momentum. it just accelerated dramatically at that time. >> what would have happened if you had saved lehman? would there have been another case of aig? >> what do you do about merrill and the other investment banks? there is no solution to our crisis. there is no plausible to -- possible story to say somehow it would have been ok. >> the biggest two decision points come with lehman and the creation of tarp. those are the big decisions. you would think that with all of the firepower in that room, you would think they could figure out a way. we have to do something guys. this is not time -- you and you get together and by lehman. >> we physically locked them in a room for a long time to try to work this through. just listen back. reme

>> the same playbook at aig. the same playbook at citigroup should play here.capitalized. maybe they cut into businesses they should not have gotten into. you think of the volcker rule. they should not have been in the business of a lot of proprietary trading. he is going to hold more capital. they are being overseen much work carefully. we being the same thing applies here. the government is the largest show holder of these companies. it to get them out of the high risk businesses. over time, they should sell this into the markets. the taxpayer makes hundreds of millions of dollars. we preserve the housing market for people. originalve the shareholders. >> hold on. is the holdup than that it just seems like the base of rich hedge fund guys versus the government. if richard perry wins and it is deemed illegal, what is going to happen to all that money? are they going to come back and give it back? >> they have another 35% out of 20%. 80% of fannie and freddie are owned by the taxpayer. the notion that the taxpayer should throughout the 87% does not make a lot o

what about bailing out aig and, how is that sticking to your principles, all this government money. he said what you would have done? i said i would have stuck with my principles. failure is great teacher. i failed at things. i have been fired. i one time had to go down to the unemployment office when it was 26 weeks and not 99 weeks it is now, for couple weeks to get unemployment check. failure is great teacher for those who will learn from it. the best thing that could have happened to wall street. best thing that could have happened in gm for my view for them to have failed and restructure under the bankruptcy law, to re-establish themselves not get a government handout. >> host: you understand what wall street implodes impacting pensions. >> guest: me too. >> host: 401(k)s, entire financial structure of america can would have an can cratered, you understand that? people in the congress and bush administration, good republicans as well as obama administration were told, we're all in a financial calamity. we as an american people have to come together to resolve this. >> guest: ju

one is why is aig using a particular entity? then, how good of a job they are doing are we getting bang for the buck? that is a separate issue. separate issue, little bang for the buck, a little beyond my jurisdiction, and that is the tax code. how do you find something as charity or not charity? i can look, and we have had a number of audits dealing with this company in particular. they are public. two questions. one is, should it be a charity or not? i have no opinion on that. i do not know the tax code that well. i have enough problems filling out my own tax return, let alone figuring out what is a charity or not. the second question is do they do a good job? we have had complaints about the oversight that usaid has provided. the question is the revolving door, has that had any impact on the oversight? i can tell you quite clearly we are concerned about that. usaid is looking at that and we are looking at that. there is a secondary issue, and that is restrictions on employees on talking to congress or the inspector general, o

people think that even when you were can do everything right, aig can make a decision and your mortgage is gone. who even knew they had your mortgage? grease can make a decision and your pension is gone. as one people -- person said, i do not even like greek food and my pension is gone. >> the right has an answer on this, too. the number one warning i would make is there are republican pollsters and there are republican leaders running for president who get this new populism. you will see this on the right, that is where the power of the tea party is coming from. middle-class people have the toughest in our economy. catchphrase for the rich, but no help for the little people. you know who made that statement? republicans made it. not only is it urgent to get on this, but it is urgent because if we don't, they will. job creation. i wish i had more data to show you how popular it is. unfortunately, i don't ache is not enough people are talking about it. this is the number one thing that people want in this economy. this is the way people think we will get out of the deficit and get their

kudos to aig's former federal minister and come and gone to. tom's been stored under sin. we would be some protein. rudd's expected to face and rubbing and of course is on track for the price for teaching of the province confirmed killed in the town. arena said attend protestant teaching towards the constituency extensively on apostasy talking about the dharma when done by the congress biking and bite my son. and the record them for the dedication and sincerity with which i have done my duty as i did over the front of the region. ideas those bygone time for some time and sort of guide to the people that really. the most suitable system north. so in the us most wanted tuning up to its size has been silenced the seven year old former schoolteacher and johnson million troops along the distinction of protein in me as the oceania nixon in nineteen fifty one. the air the rev dr who the group for about two million out that you i've been on back to bed and i will go to a gay guy though. rob. does she need to go on a dish. when it got dark eyed the nineteenth child. good gauge of h

lehman had exploded but fannie, freddie, aig, citigroup and bank of america was still ticking and in deep trouble, and they were bigger than lehman. the financial system as a whole was at risk of collapse. the question was, how to stop it. gooeithner recounts the extraordinary events in his new book "stress test: reflections on financial crises." it is part depp racating memoir and part decision to bail out the banks in 2009. we sat down to talk about it all. tim geithner, welcome. >> nice to see you. >> one of the things that will surprise people about this book is to learn some of the details about you, because you're sort of one of these blank slates under which people have projected whatever they want. >> some hopes and fears. >> geithner, the self-pro claimed backstage guy served as president of the new york reserve from 2003 to 2009. during the bush administration and the beginning of the obama white house. before that, geithner worked at the treasury department and the imf. besides a brief stint at henry kissinger's consulting firm, geithner never worked in the private sector.

pay large bonuses to people at aig who impart were responsible for the blowup.you made the argument that there was just nothing within your authority to lock those bonuses, rule of law applies. could you not use the force of the office, the force of the presidency as well and say you guys cannot have this money? you cannot take it because it is bad for america. >> most humans have the same view. we had no means at that time. as i write in the book, we didn't just try to figure out how to get some options. the president went out and announced to the public that monday that he was going to ask the attorney general to go back and look. they did a nice thoughtful look at that and they reached the same conclusion that we had. it would be great if there was otherwise. >> could you have taken them into bankruptcy and done it that way? >> in a financial crisis caused by a massive run produced by a fear of systemic failure across the system. the financials of the united states, even in early 2009, think back to what it was like. the economy was falling off the cliff. eve

. >> one if your favorite subjects is the aig moment that got paid out. people who are reasonable criticize the record that are not ideologically opposed everything you did but certain things they poll out and say this is a missed opportunity to do something that would punish the arsonist, something that would make people feel better about bailing out wall street as that necessity, one thing that often comes up is the fact that after aig got this massive bailout of the first of several bailout, getting multiple doses of the bailout, plans to pay large bonuses to people at aig financial products that were responsible for the blowout. you made the argument that there was nothing in your authority for those bonuses, could not aggregate contracts. is that true, could you not use the force of the office or the force of the presidency as well to say you cannot have this money, because it is bad for america? >> most humans have the same view, we have no means at that time but as i right in the book we didn't just twitter our lawyers in the treasury to figure out

wall street stocks sold off from the opening bell as disappointing earnings from aig and financial shares and sell-off in twitter that susie just mentioned impacted other internet and social media stocks. more on that in a moment t. dow down about 1130 points, nasdaq off 57 and the s&p lower by about 17. after the closing bell, dow component disney delivers the highest quarterly earnings in the company's history. disney did it with people flocking to its theme parks, to escape this winters bitter cold and snow, they are showing the block buster animated movie "frozen" and turning to espn and tv holdings. here's a look at today's number, didny posted earnings after charges of $1.11 a share, 15 cents more of an liths revenues. they topped $11.5 billion. in after hours trading, disney shares rose as much as 2%. they were down a fraction in the regular session. here is more on the disney results and the key take away for investors. >> megablockbuster "frozen" has been getting all the attention when it comes to disney, nearly $1.2 billion growth in the studio division. but the bigger story is

on comes up is the fact got this massive several,the first of they announced plans to bay people at aiges financial product who at least in part were responsible for the blowup there. made the argument that there within your authority to block those bonuses. true, could you not use the force of the office, the as well the presidency and say you guys cannot have this money, you just captaining it bad for america. why dnlt you do something to stop that? most human has the same view. it's inconceivable to people we had no means at that time. but as i write in the book, we --n't just the president went out and announced to the public that askay that he was going to the attorney general to go back and look too and they did a nice thoughtful look at that and they reached the same conclusion that we had. it would be great if it were otherwise. >> could you have taken them into bankruptcy? >> in a financial crisis caused massive run produced by a across systemic failure the system, and the system that finances the united states even in early 2009, just think back to what it was like then, the fal

is going to body was then pushed another big name join in the lords is the former chief executive of aig collins r t he resigned when a marriage that i would need to twenty billion euro payment from the attacker thanks loves. almost five hundred jobs are to be created by two separate companies in cork irish own box pro which provides technical support to a number of local corporations is to create three hundred and fifty new jobs over the coming months. the entire multinational tyco is adding hundred new employees to its workforce in cork. relief is open for fifteen years ago my husband and i found a mate six employees it now was like hunters between cork dublin and sentences. we've been very clear in her car struck a deal with us for years. we have been targeting north american companies were called to your subject. we design resource and to the post or contact requirement. it was different languages which a neighbor that enables them to establish a very strong footprint in europe and as they're called grove soda straw from the team if all goes well. i was grilling ecb is another three

aig's posts here is in the region. dramatic developments getting soft eastern ukraine way the news is unfolding foss and furious if restocked with the town of qana told that is around seventeen km from where i am the saviour has been purchased as i can control of the central square at the waist of the town has not been taken over by the ukrainian on me the shops are closed and we know that we receive the support system for peace has been shut down this a fixing cleaning up some fifty thousand people who are now with the child's dad makes the region is a region where all have peaked on sport has been shut down what this means is that nobody can of diet yet we forget using either the boxes for trains this is a weekend operation that took place it started on friday feeling sappy on skits effective comet asked is fighting his announcement that it will crack down a minute and a beach and tasted these antique if protesters many of whom is taken up administration buildings in this part of the country in the city of new guns q

an award winning former bbc reporter who comment on the x cnn reporter and the red deer chief for aig's year english and produced by muhammad. all three of their porters were detained in iran the twenty ninth of december in charges related to terrorism which will be denied in town to steer his side are absurd egyptian officials have said that the journalists read suspicion of operating without a proper accreditation the journalists for the guitar based television network had been accused of touching the egyptian government's reputation manipulating footage and aiding terrorists that prosecutors' evidence in court during previous sessions did not seem to show any footage of aiding or abetting terrorists. video evidence and actually did of course is farms in interviews that different politicians many egyptians feeling hatred and authorities had started a campaign against the sierra de souza a drink at night announcement by the hague the main backer best it has been hunted more soon. the military even more supermarkets after mass protests against him last july. international news on human

his interview with aig's of the seminar fee will be aired on friday that he is a preview. you knew him the time and that's very kind twice once to expats. it will still have older you're all files in brussels would still have. lol lol i'm all mammals and they forget that it's not only about themselves and everybody even a child can see. and at the end of ukraine. this was not a cut to a ninety nine percent of the people support that idea by joining the european your new half of the country. m is against it. what's more is more pro russia. so i believe that the european union and the anvil in the heat that made it very irresponsible role should get bit about them but also have to be honest them and it still is this often gone through so also believe that rajesh with the respected the sovereignty of the ukraine and then should've stayed out of the country. but i hope that through without the you opened the hearing and without question at the hearing things can still be escalate novel without sanctions but with common sense. when stations of casey in iraq on the first nationw

but declined to discuss the crisis in ukraine and the spark rasmussen called the current tension at aig's invited us to jason says the car door and says that the darius is ready to defend its nl east. now we have more planes in the can one seat on the scene and want to upset and mad at the top of the steps necessary to strings and a defence and security of our alleys said rasmussen. last month made in his tent city its military presence in the baltic states two weeks ago my scale military exercises of nato forces began in holland they will last at least eight p m today the chairman of the oic match but thinking of quitting the toughest of the city of kut teh says it is to discuss the situation in ukraine. in addition insist on the second proposition even at the stations have a moscow has no plans to cut the steak and am but because of the scheme is the first ukraine. united ukraine nearly a thousand down inhabitants of curable not dissipated into flash mob under that title. it was one of the biggest events held in the cd recently. children wagon ride it into the team provides full want to

first traded insults before going on to cough up over at the moncton and its happenings other on the aig can see the company the sadness. the ttc they think that that get on that but he never does thank you for what to get the team will be back shortly with one of my time. off. he says welcome to dc today we took a nap citizen she had its young men and occasionally women joining the holy war against banks are now set they might be your next door neighbor is in the suburbs of paris or philadelphia apparently the trip to the normal lights. many are radicalized through the internet and also their local mosque. according to the international center for the study of radicalization at king's college london syria is the most powerful magnet for international since afghanistan on in the nineteen eighties. when my guest today is a research at the center as well as being a fellow at the washington institute in the us. aaron seven welcomed the progress. they said and what's is the attraction of syria for these european and other fights is one of the main attractions is the fact that its use here yo

steve you that you are up in a shoot up the old c scan of it and gave her to happen in the case of aig has been enough talk. why don't we have that the bjp european giant indian cheese at coogee and are competing with the intent is only say that french people checking themselves when they're thinking that so i'm just sitting there thinking in the critique opinion this irresistibly that europe should be an authentic you can see america and the crowd at the end of the specific example he has friends and even risked against the euro floor to buy died of an agreement with german show that's on your own business working as the french team detroit where he says he's good. the treaty is as an edge on the street is peaking relationship of friends who have a new vision. i need the stain of the relationship of france beat you up and i guess. french who really want to see a bit of their illnesses include corn beans and its european useful we beat me up in the news crazy swedes are you going crazy stunts on winning the open abt it. he's not that i'm digging the grave and nicer friends today. their

dragged lower by aig, they reported disappointing earnings with twitter selling off at the locked upxpiring. joining me for today's options and a look at where the markets are headed from here? the option strategist at trading block joining us from the cboe. tim, when you look at the action in the markets today, what kind of signals are options giving us right now? >> there is a lot of kind of waiting here. we are just off the all-time high of the s&p 500, off the lows of the victory of the trade here behind me is very quiet today. traders are waiting to see if we do break out and, certainly, given where stocks are at, it may be time to put some hedges in place. >> speaking of the vic, if you look at how it has performed over the last three months, it got to 28 in early february, 18 in mid-march, 17 in april, 14 last monday. there is a distinct pattern in place here. what is going to be the next low point? >> somewhere around 11, 1150 level is a natural floor. obviously, it can't go to zero like some bankrupt companies, but the high side is the further it coils in words, the more the

aig says their profit fell, this thoughms costs climbed, fell.t beat the estimate of analysts surveyed by bloomberg, and at gm, an executive involved in the faulty ignition switches at decided to retire. executive director of global vehicle integration, and those are the top headlines. >> thanks very much, su keenan. i just returned from a conference taking place at lincoln center in new york, and hostmarket makers's" stephanie ruhle joins us. give us some of the highlights of your conversation. >> i did just a few moments ago. bill ackman and i sat down, and for him, it is all about fannie and freddie chugging along and staying in business not just for the big time people but for taxpayers. think about what they have at stake. think about what these are for american culture. >> they should wind down the old fannie and freddie and rebirth them as new fannie and freddie, and they go back to the old business, which is just being a guarantor of mortgages, winding down the business of fixed income arbitrage, which is a business they never should have

who even knew aig had your mortgage?as one person said in a focus group, i do not even like greek food and my pension is gone. the right has an answer on this, to. the number one answer i would take to you is there a republican pollsters and republican leaders who will be running for president to get the new populism. notice the strongest statement on this chart. the assistance programs for the poor, tax breaks for the rich but no real help for the american people. you know who wrote that? the republican pollsters. their populist agenda is as popular as our populace agenda. not only is it urgent to get on this but it is important because if we don't, they well. job creation. i wish i had more data to show you how popular job creation is. unfortunately i don't because not enough people are talking about job creation. this is the number one thing evil one to in this economy. the number one people think they will get out of the deficits, family ahead. 91% of americans say creating jobs in absolute priority this year. plus o

. >>> the insurance giant, aig as it's known has reported a 27% drop in the last three months profit disaster loss in the casualty property insurance business. the company fell 1.6 down from $2 billion from last year. got those numbers? good. tweet me on twitter. i'll tweet you back. @bbcaaron. >> did you get those numbers? beautiful outfits. >> bye. >>> stay with us here on bbc world news. still to come. out of sight, out of mind. where did the former security chief disappear? [ male announcer ] legalzoom has helped start over 1 million businesses. if you have a business idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reality. start your business today with legalzoom. still running in the morning? yeah. getting your vegetables every day? when i can. [ bop ] [ male announcer ] could've had a v8. two full servings of vegetables for only 50 delicious calories. man: yeah, scott. i was just about to use the uh... scott: that's a bunch of ground-up paper, lad! scotts ez seed uses the finest se

in new york and a deposition he gave that did not seem to track what the book was with when he knew aig, the insurance was really a threat to the global financial situation. in the deposition he suggest that it happened they relate, too late. he had a handle on it early. he kind of said once you see the full deposition, it will lineup. other headlines, he walked back comments about too big to fail being misguided policy. he said you cannot say you solve that problem, but we have made it much, much better and addressed real criticism from the special inspector for the tarp funds. politically in washington there was a lot of eyebrows raise about his description of a prep session where the communications team and dan pfeiffer specifically prepping the secretary for sunday show said he should say social security did not add to the deficit. tim geithner didn't feel comfortable with it, that is how he wrote it in the book. for the white house trying specifically to mislead the american people? >> i was never in the position nor anybody to ask me to do that, neve you never would havee that. wh

david albright person that aig local 918 amster stevens amitay executive director and general counsel national association of security companies. i asking them as content that are witnesses and to be included in the record. without objection so ordered. censuring testimony has been made a part of the records the subcommittee of a request that your oral testimony to five minutes. you may proceed. >> thank you. chairman barletta ranking member and members of the committee my name is david wright back in the right back in the impression that aig local mind when it which represents sbs employees nationwide. i'm also an inspector with the federal protective service since 1986. federal employees of facilities are vulnerable to attack from criminal and terrorist threats. are they as secure as they should be? they are not. is that security is effective as his congressional office building? definitely not. solutions include accountability for fps leadership pushing staff to the field effective on-site security effective tools for risk assessment and recruiting. regarding the culture of account

aig, washington mutual, merrill lynch, but stark reality, a cot log.he behind the scenes on near death of each is detailed and makes me feel he's a total honest broker. many people don't feel that. i don't care. he's the first to admit he lacks a dramatic hero villain flair. they almost all seem to be drawn to the financial industry like flies to honey. family show. it's impossible to imagine a group of trucking companies, health care professionals, any industry performing so horrendously as bank bosses. they are at times laughably villainous. like when one of the richest men in the world at that point running merrill lynch requires an incredibly tense media. now whether it will be curtailed by the government's program to save the world, good grief. he didn't write the book as an investors guide to banks but you can extrapolate from the rich composite to populate the text. this has to be one of the most cautionary tales i have ever read. and for and after the crises why the bank stocks received such a low evaluation in our market these days. first goin

shares of aig down after the company posting a 27% fall in profits.he insurance company was hurt by catastrophe losses. it's earnings did beat but revenue came in below estimates. 51.75 a share. >> thanks for that. bk, i'm going to guess you wouldn't touch it with a ten foot pole. >> or pete's money. it looks to me it's topped out. the revenue dropping here below the street expectations and i know that's been a trend. people don't seem to care about revenue. but i think in this environment they will start caring. a stock up 27.5 in april 2012, i sell this one. >> some of the most prominent names are revealing at the investment conference. we've got the money manager who says she will live and die by hers. let's bring in the founder. so you unveiled them about an hour ago. let's talk about electronics for imaging. that stock is up 44%. it's been a good performer. >> actually we're along the stock. >> you're long. >> yeah. >> why do you like this? >> well, we think it's at the epi center at the conversion from analog to digital and commercial printing.