did the government cheat aig shareholders. there you see hank greenberg, the former chair of aig, the government did just that. the 89-year-old arriving in a d.c. court for closing arguments of the year's long financial crisis drama. >>> if you didn't use google to share documents, keep a calendar, now you can use google for another major way of communicating, and it could save you a bundle and strike here in the hearts of at&t and verizon. the last hour of trade, breaking news out of saudi arabia, stock are on a roll. let's get you smart and start the "countdown." >>> we begin with breaking news. the one man the cftc, the cme and the fbi believe is responsible for the may 2010 flash crash has a day in court. garreth ryan live in london as the accused trader scoffs at the charges. >>> news from the saudi arabian u.n. ambassador, they are ready to start fighting again. so much for the cease-fire of airstrikes in yemen. just 24 hours ago on the show, former u.n. ambassador warned the u.s. and us that that is the exact scenario t

aig, bear stearns. three of them we cooperated on. aig and tired. but people see us as the bombs. what happened to bipartisanship? bush is president and in 2008 comes to harry reid and nancy pelosi to partisan people, very able people. they said sure, before why, before it went out because someone, before why now because i'm one and it it would've been better for the democrats but what about the people we care about. it would've been worse for government. a year later when obama asks obama did not ask for a stimulus because we had done focus groups. you know what a focus group is. you gather people who don't have firm opinions. the problem with that is very often people don't have firm opinions because they are arrowheads. [laughter] you look at the focus groups in october at the election year. on the undecided people in october can be in a focus group. who was undecided between obama and mccain or bush and gore? maybe a few people a few people appeared for this and for that. most of them don't know anything. the focus groups reported stimulus is a bad word, and make it in context

fail, they went and rescued aig. they try to make a distinction and bernanke made a distinction between aig and lehman brothers. but they rescued aig. many people said these guys have no idea what they are doing. they are playing with our money. they are making all kinds of decisions and we are out here is not knowing at all with the government is going to do the day after tomorrow. that made the financial crisis much worse i believe. >> when you recall these events in real time we remember in the summer of 2007 there were some credit tension on credit arcade globally and we saw that develop into bear stearns in march of 2008 and of course the rescue of fannie and freddie and lehman brothers and the bankruptcy of lehman brothers in 2008 in a few days later the rescue of aig. one of the things occurring throughout this following in real time i remember the officials involved couldn't get their head around what was happening in these financial institutions. they looked like these are out of control banks. out-of-contro

did the government cheat aig shareholders.he former chair of aig, the

dow component visa aig and gilead. expert animal cyst fromalysis from the pros. >>> later, manny pacqaoi talks up his fight against floyd mayweather this las vegas. the pacman stands to take home more than $100 million. what if there were only one kind of dog? then it would be easy to know everything about that one breed. but in fact, there are over three hundred breeds of dogs. because no one can be an expert in every one... an app powered by ibm watson will help vets tap specialized knowledge in the cloud for every breed... and whatever else walks, flies or slithers through the door. ibm watson is working to make medicine smarter every day. ♪ ♪ (ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. >>> welcome back. we've got 45 minutes left in the trading session. the selling intensifies here. t

joining us now, hank greenberg chairman and former chairman of aig. great to have you here. >> good to be with you. >> what do you make first of all of these negotiations in which the ayatollah says they will not be written down that as you heard from the republican guard general saying there will be no inspections of military facilities, let alone nuclear facilities and death to america death to israel and we'll meet you in switzerland next. >> it's incredible to me that we even started these negotiations with a country that says the top general says the negotiations about the destruction of israel is not negotiable. how do you start a negotiation with a country that says that about any country let alone our strongest ally in the middle east? >> how about a negotiation in which there is absolute no prerequisite of any kind for iran to stop its aggression and its actions against the interests of the united states and its allies in the region? >> it's hard to understand what we're doing with iran. >> as this president continues and john kerry expresses

the reality was, the contracts with aig could have been preserved with far less government money than was ultimately spent, because it wasn't this $700 billion bailout, it is a multitrillion dollar policy that is still going on. if we really firkd it it would not have still been going on and it wouldn't have been so global. >> if we agree with you or not agree with you, it is still a great read. nomi prince is a fellow at demos, the hidden alliances that drive american power. coming up, the college students who say they're stuck with worthless degrees and tons of debt from a failed school. >> do you think that you should have to pay back those loans? >> no, i don't think i should have to. >> get this: the government stepped in with a bailout not just for the students but for school. coming up in two minutes. >> i lived that character. >> go one on one with america's movers and shakers. >> we will be able to see change. >> gripping... inspiring... entertaining. no topic off limits. >> 'cause i'm like, "dad, there are hookers in this house". >> exclusive conversations you won't find any

if aig happens to me there's somebody who will fix it as a result of the nfl. and we thank that you them for that. >> you say the money is there but no one wants to collect it. >> nobody wants it. >> that means you're very sick. >> beasley, thank you. >>> 94 years of age a south philadelphia man is going to defy the odds during this weekend's penn relays at franklin field. >> george scott is an amazing athlete. you can definitely say that he's one of the fastest men in the world for his age. "eyewitness news" was with scott in warminster today as he trained for the 100-meter dash. the 94-year-old started running when he was 88. his career took off a year later later. >> 2010 we did both the senior games and the keystone games. i wound up with 15 gold medals and two silver. >> not too bad. this is how scott says he stays in shape. he plays basketball with the youngsters. he also likes to dance. scott by the way work as a technician here at queue for 40 years. >>> how inspiring he is. >> isn't that incredible. >> never slow down. even that's the message. >> never

also, headlines out of aig operating earnings per share the dollar $.22.igher than consensus. it is also increased its share buyback by $3.5 billion. boosting its share buyback by $3.5 billion. even as the first quarter profit increased -- particularly for a unit that sells casualty insurance to commercial clients. alix: we also have expedia. cory johnson is those numbers. cory: stop of 6% in after-hours trading. why is it up so much? strong results are. expedia -- reporting to us -- a little bit better than expectations. it is a lot better then. so, the analysts got this one wrong and the company generates free cash flow of $90 million. losing less money than expected, making more money in terms of revenues than expected and it looks like a pretty good quarter for expedia. alix: gross bookings also up 19% of the company. cory: pretty good quarter for expedia. alix: all right. lots more to come. do we have more? cory: let's do more. alix: with got a lot more coming on. lisa, cory, you are sticking around. guys, thanks. can linkedin's performance justify th

these seemingly experienced armed robbers have been bounce aig round in different parts of the city doinge thing. using a gun and getting a lot of cash from close to a dozen businesses. and police are now hoping the public can help break this case. >> it didn't register to me these guys were coming to rob me me. it license register they had the mask over their face. only time i realized something was going on when they shoved their barrel of the silver gun out his hoodie good this is the surveillance video of the armed robbers in action at a sit company convenience store in fishtown. and this is pam working the store solo that night fearing for her arrive but trying to stay calm. >> they said we want the money out the register and out of the safe. i stood there put my hands up to show i wasn't going to be aggressive. wasn't going to be confrontational. >> police reviewed multiple reports and multiple videos and believe these are the same two brazen robbers hitting businesses across the city. they're mo is usually the same. >> ones captured on video you can clearly see large silvery solver

he spotted on witness video firing eight shots into a man who is run aig way.e say you can't see the shooting on the dash cam video that just came out within the last hour. but you do see the victim walter scott just getting out of his car and running away during a routine traffic stop. there is no sign of a struggle over taser as slager told authorities. to night we are learning more about slager's past from his classmates at lenape high school. fox 29' is that so bean in a kuriakose spoke with people who know him much she's live in medford, new jersey, and sabina, what are they saying about what he was like in high school? >> reporter: well, dawn, they say he was quiet that he kept to himself and at four years here at lenape high school he barely made a ripple. a stack of year books detailing every year lenape high school grad and now former north charleston south carolina police officer michael slager spent on this campus. yet win these books and on these streets and now infamous native seemingly leaving little trace. >> kind of shocking that somebody that l

she calls society hill home after work aig round the world. comes from a family of public school teachers and wants to improve pub look education but she says that pouring money into schools is not the answer. she says government continually asks more from taxpayers without transparency and without results results. >> i think we need to leverage data to see what programs are working and what programs are not. and if programs aren't working we shouldn't be spending money to fund them any more. >> she does have uphill battle. registered democrats out number republicans eight to one in the city. spring allergy season in full bloom and this year allergy sufferers are really going to feel it. our health reporter stephanie stahl shows us what's happening now and what we should expect. report. >> itchy eyes, runny nose, dry throat, life just becomes miserable report roar that's what happened to tony every allergy season. worse yet, his wife loved the outdoors. >> she loves to go to parks. she loves mick 96. but i would would be so miserable report ro

that's a message from aig to ceos and it's working. the new market is booming. to the head of that division next. as we head to break, take a look at u.s. equity futures. we could get under triple digits, theoretically. >>> today's top stories, verizon rolling out a new plan to let customers pick their only channel buttons. we've been talking about this on the "squawk" line. rich greenfield is joining us. this is something that we've been watching in a lot of variations and forms. it's almost like watching a new industry sort of blossom right before our eyes. how is this different from the other things that we see? >> well i think this is still very early in the evolution of the news story. it sounds like this is part of the traditional cable video bundle being launched if it's true, by verizon. this doesn't look like the ott, the over the top video service that verizon is thinking about launching nationwide. it's a mobile basis as well as on a pure kind of fixed line basis for verizon nationwide. but this seems like a way of chopping up the channels and broadba

mays was a vice president for aig financial distributors.missing for bottle week. >> darya: 3 check into the marriott resort his on a trip on january that found his body and the golf course ponds next to the hotel. >> darya: intelligent network hacked have religions to the ozarks a group. a cut transmission of 11 channels that belong to the tv. to over networks website and socially accounts. tracker says that that tech was continuing and that work has assorted signal but only broadcaster quarter programs. the message on the networks website raids on iamb ims will be right back as the kron 4 more news continues. ♪♪ at kaiser permanente everything you need is under one roof. another way care and coverage together makes life easier. okay, a little easier. become a member of kaiser permanente. because together, we thrive. ♪♪ these little angels build in softness. and these little angels build in strength. and that little angel says "weeeeeeeee!" 60% more sheets than charmin. everything you want and the value you love. angel soft. ♪ things that i

and she just went to a neighbor's house in fact she's float aig round here doing okay. so certainly the situation could have been worse. the homeowner is okay. the two firefighters are going to be okay. the cleanup chris and dawn still underway here in medford lakes. back to you. >> okay. brad thanks. >>> all clear tonight at the statue of liberty after an earlier bomb threat. the national park service says someone made a 911 call this morning saying they were going to blow up the statue. liberty island was evacuated as a precaution. explosives experts were called to the scene along with the national park service. all visitors and personnel evacuated safely. >>> gunshots in south philadelphia after a police officer fires at an armed man. officers responding to a call in the 2200 block of 25th street just after 9:00 o'clock this morning. police say when the officers approached two men one of them showed weapon. investigators say that's when an officer fired his gun. no one was hit. police arrested one of the men. they are still looking for the second. >>> and new informa

francis the patron saint of animals is cup and walk aig round and giving lots of kisses. >> this doglly has a will to live. he still has a long road to go but he is remarkable. he's a miracle. >> reporter: lead needless to say frank winning over the hearts of everyone here at keystone. this guy getting lots of tlc now now. >> a lot more than you could possibly know. any time we have the chance, he's out and about just trying to give him love working with him. >> reporter: frank has a number of costly surgeries to go before he can be placed for adoption. but he survived the worst of it made a live long friend in russ who will make sure he's safe from now on. >> the day that they woke him up i come to see him and he remembered me and he was strum bling over and laid in my lap. they know you saved them. they do. >> reporter: i believe they do. now, so far frank's vet bill is at $10,000. this dog needs reconstructive surgery on it's right foot, rehab and follow ups that's expected to cost another $10,000 $10,000. if you'd like to make a donation you can go to my website myfoxphilly.com w

aig, again the poster child.0 billion beyond what they could pay in credit defaults swaps. that would not be possible today. you could not get such an indebtedness without money behind it. secondly when they are taken over what happens is we run them -- the fdic has experience in this -- and here's the law we changed. previously according to ben ben bernanke and hank paulson, if one of those banks was overly indebted, the federal government had to either pay all the debts or none of the debts. a big payoff for them or chaos. instead we said here's the deal. federal government can step in pay only those debts that are needed to prevent the downward spiral then this is critical. the secretary of the treasury under the law is mandated -- not authorized mandated to recover any outright that the federal government has to put into this from other large financial institutions of $50 billion or more. one, the institution fails, and two there is a taxpayer loan that the secretary of the recover from the other financial in

patrons and workers inside the restaurant saw the two-year-old wander aig round last night.says at first no one realized she was all alone. >> we were like, oh, my god what is going on? we were like looking because we thought maybe the mom was in the bathroom or something. we start looking for her and we don't find her. >> the waitress says after the staff realized that toddler was alone they called police who tracked her parents down. later that night. police say the girl is now in the care of social services while their their investigation continues. >>> bobbi kristina brown is starting rehab. but she's got a long road ahead of her. his attorney releasing a statement that says his daughter with whitney houston is out of the icu opening her eyes and start tag long road to recovery. since moving out of emory university hospital. doctors admitting the quality of life she'll have is still unknown. bobbi kristina was found unresponsive in a bathtub on january 31st and has been in the hospital ever since. >>> local community working to keep the peace. the tension in vineland has

several teenagers run aig round looks like young people and this car just keeps burning. of the freddie gray protests here and again police are trying to do what they can but there's credible threat issued against police they're taking seriously several gangs have threaten here's a cop car right now racing past the scene right now trying to control another part of this perimeter it looks like but again police dealing with what they're calling a credible threat for several gangs to take out quote take out police here and this town is just going crazy. officers have been hurt because rocks have been thrown at them. we know one officer is unconscious. several others hurt but right there, you can see that burning car and here's actually here's a fire unit i don't know brian if you want to come out a minute here. here's one of the fire units baltimore city. a lot of these guys are really struggling to get close to that situation right there. we were over there. we had some teenagers and some people jumping on our truck. we are okay but they got pretty angry. they say they want

aig says the faa has proved its request to operate small unmanned aerial vehicles for commercial use.ompany says the drones can accelerate surveys of disaster areas for faster claims hand handling. blue bell is expanding recall of products made in an oklahoma production facility because of a listeria contamination. the company says it's recalling pints of banana pudding ice cream after a sample tested positive. that's our cnbc news update for this hour. let's get back to "squawk alley"p. >> dos this now? thanks courtney. the apple watch reviews, are continuing to roll out this morning. and re/code's lauren good saying smart watches are unproven but apple has made a pretty strong case for them. joining us from one market is re/code managing editor of reviews, lauren good. lauren, hopefully you can help put this in more context for us. i remember the first generation iphone, didn't even work on 3g networks at a time when 3g phones were becoming popular. didn't run third-party apps. for a first generation product, how is this watch? >> well, you bring up a really great point about the ap

i remember $99 billion for aig. >> yeah. >> 16 looks -- >> but you're right, $16 billion, $12 billionnoncash, interesting choice on the part of ge to repatriate assets that they're going to have to pay significant tax on. not waiting for tax reform there. that is going to cost them as much as $6 billion. but yeah, $16 billion, that will take place this quarter. they are reporting next friday. we'll get a read on all of the company's businesses that mr. immelt lauding as the portfolio they likes. 90% of the company's earnings will come from industrial businesses by 2018. >> still leading the s&p, which does not happen every day. >> no. >> quite a story. thanks a lot, david faber. back to apple this morning. today, of course, the first day you can walk into a store and actually put on an apple watch. if you can get to one. jon fortt is live at the apple store on fifth avenue in manhattan. what's the reaction so far? >> well, carl, mostly positive. the people who come out on a day like this are going to be the people a lot of them have already preordered and want to actually get a chance

this was after the mortgage crisis aig, lehman brothers, and the whole thing. president was there to be in a position to bring the country together. right before he was sworn in, he asked then leader john boehner and i to a meeting, and he was president-elect. i recall the meeting in the lbj room in the senate hearing he came over to us and said i am really serious about learning to work with you. i want us to work together and bring this country back so we can move forward. he indicated that we should bring him our ideas about what should be and what was reported to be coming, the stimulus bill. after the swearing-in, we all went to the white house and met in the roosevelt room. i was so bold at the time that i brought a white paper to show the president. he said bring your ideas, and i did that. the president looked at initially and said there is nothing unreasonable, nothing crazy in here, i think he said. we were very careful not to be crazy in this white paper. i know that what the assumption was that what republicans wanted , tax reform, stimulus, was not

>> i think so -- >> you didn't but aig in the dow, did you? you can hang that on somebody else?body else did. >> the aig story really is the dark days of 2008 we did not chuck it out of the 500, even though by the rules he should have vanished with lehman brothers wafting away in smoke, how it made the world out of the 500, it would have been the wrong kind of headlines and would you have called up and said -- >> no matter what you do, i'm going to complain, you knee. >> i know. i told you, i should send you a bill for the service. >> the weird thing is how closely the s&p and the dow have tracked over time. >> that's showing that obviously there's got to be a correlation between the stock price and market value of the company. no big surprise. splits ruin that but otherwise. but 30 stocks in the dow that has a market value, it's a pretty good chunk of the u.s. economy in the world. that explains why they track so well. >> overall, your agnostic about valuations in general. i guess it wouldn't be good for david blitzer to say, wow, we're a little rich here right? >> well i think

we had to bail out aig to the tune of $180 billion.n have to do to speak to the middle class? joe: we have to understand that it is not just a matter of redistribution. is the way our economic system has been working that has led to before tax wages being unequal. america has the highest level of an equality. -- of any quality. tom : what did the republicans get right? what have the republicans gone right? joe: they were against slavery. they really fought for it strongly. they lost some of the passion. i think it was a moment where they lost the passion for creating a more equal society. there were other things that republicans have been very strong about. this is earth day today. it is important to the environment. bloomberg was very strong in trying to push the environmental agenda worried about climate change. mitt romney, in massachusetts was concerned about any quality and access to health. tom: maybe they could come back to it. let me go to the debate of the moments. i am going to assume you tilt towards professor summers but st

aig has gotten approval. they will be able to use drones to survey disaster areas. that the stock is up fractionally on this. this is huge news. drones will be part of our every day lives. a 12-year-old boy lined up to cash a 20 g check. that was the grand prize. i think you will be outraged. after this third. ♪ the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do. i take prilosec otc each morning for my frequent heartburn. because it gives me... zero heartburn! prilosec otc. the number 1 doctor-recommended frequent heartburn medicine for 9 straight years. one pill each morning. 24 hours. zero heartburn. stan president obama launching a new initiative. climate change health, it will be held later this spring. we will have bob dean from the natural defense counsel. now, this

about that -- the inspector general collects all of those reports and i get a weekly report from the aig. the number of reported calls is going up, the number of people who have fallen prey to this scam is down significantly. the ig has a record of over 400,000 reported scam phone calls. that's obviously not all of them, a lot of people don't call. it's part of our efforts, whether it's youtube videos for information or tax tips to remind taxpayers of the way that people will try and take advantage of them. last year we put out the dirty dozen, of the tax scams. this year to try to get more visibility about that, they put them out one a week so we would get people focusing on not only the people calling you impersonating the irs, but fishing expeditions where you get an e-mail and it looks like an irs website to go up to the details you will see it's not from the irs. the people again reaching out to try and get information from you that will allow them to still -- allow them to steal your identity. there are unscrupulous tax preparers, we said if anyone says just sign a blank form and i

alix: right, we are going to look forward to next week, it is a very busy weekend, apple, time warner, aigo have the bank of japan meeting, and in terms of economic data, we will get the first quarter u.s. gdp reading and all of her from where you sit, what is the most important on numbers that we will see in the next week? oliver: i think it is important to see whether or not these multinational companies that do have profits overseas really will be hit -- and we are seeing almost a 6% shrink in earnings and that is looking more like 3%, smaller than that decline gets, that i think that that happens with the more bullish that people are going to be. not to harp on it but it is really about interest rates, you have lower rates of ross the globe and even if earnings come in and they are weaker and we do still see and negative number year over year, i inc. the market is going to continue to stay where it is and i would not be surprised to see it not really change. alix: and we just did not leave talking about the first quarter gdp, this is going to be a very important leave, and all of the f

the faa is giving the green light to aig, state farm, and usaa.ry tv journalist is calling it a career. he will retire after nearly half a century. he has hosted "face of the nation" since 1991. brendan: coming up on "surveillance," greece delivers debt to collectors. that is the good news. what happens next is unknown. is the shell deal a beginning of a new wave of m&a? we have been saying yes. what will be the real impact of the strong dollar on your portfolio? we will be breaking it down with our guest host for the hour. 2014 was the hottest year on record according to data compiled by bloomberg. 13 of the hottest 14 years occurred in our last century. the co-author of "climate shock" is with us. you are basically telling us that no matter where you stand on this issue, we are probably lying to ourselves. let's take the perspective of somebody who believes that climate change is happening believes it is caused by humans, what is the lie that people are telling themselves? >> i would not call it a lie, because i am one of those. [laughter] >> ba

all right, american international, aig has had seven chairman since 2005. that's a big number.he former ceo of southwest airlines will be replacing david miller. it has repaid the government bailout. and the greek three-year bond. it is yielding 28%, the most since the height of the euro debt crisis. yields soared as investors wait on a resolution on the greek debt crisis. they must come up with a deal before european creditors will release the last of the bailout money. and live from moscow it's vladimir putin. he took questions on his annual call in show. and at a time when the economy heads into its first recession in six years, one color wanted to know about economic sanctions imposed by the u.s. and europe. -- one caller wanted to know about economic sanctions. vladimir putin: it is a strategic issue for our western partners, and is probably not much to do with the ukraine anymore. stephanie: the good news for putin, the ruble is at its best performance this year. the russian currency is up 20% in 2015. erik: what you say about netflix other than wow? netflix late yesterda

aig in essence got a huge margin call that they could not meet so you could make it very important, or you can make it un important. the best thing you can do is set up your fares so you're not dependent on the presence of liquidity. one of the things i say in my recent memo is that liquidity is plentiful when you do not need it and disappears when you need it most. stephanie: how do you price that in? when you look at the overall credit market when things are going well, no one is thinking about liquidity. howard: right. as i say, you never know if it is going to be there when you decide to sell, so you should -- erik: pretend that it won't be. howard: well, it is good to assume that it will not be, but that may make you over conservative. i think it is better to not be reliant on its presence. i things you will not have to sell. erik: what about all of the instruments being offered today that promise liquidity? stephanie: like what, etf's? erik: like etf's, others. howard: it was in early 2009 that warren buffett said only when the tide goes out to you find out who has been swimming

the agency trust aig. the ig trust us. if we can create a culture of trust, it makes everything so much easy. i would say we've got a long way to building trust. spent i could keep asking questions but i would like to open it to our audience. if you can raise your hand if you've something to as. we have a couple people with microphones. please say who you are, where you're from. we will do, we are going to take three or four questions at once and then i will get back to the panel and then we'll come back to the audience for a second round. and if you can keep your questions short, that would be appreciated. there's a gentleman right here on the i/o. >> -- on the i/o. >> my name is doug sanderson. i divide my time between a little company called into logix and a larger company called -- there's a trade off in reporting. there are some incidents that you really wouldn't want to prosecute but you don't want to be ignored either. and if the bill is severe want to get over the threshold for prosecution, there's a tendency for p

tremendous setback which almost a crash of the markets come and this was all supposed, the mortgage crisis, aig and lehman brothers and the whole thing. so the president was there to be in a position to bring the country together. right before he was sworn in he asked then leader boehner and i toto a meeting with the other members of the leadership and he was president-elect. and i recall reading in the lbj room in the senate. he came over to us and said the president said, president-elect said i'm really curious about working with you. i wanted to work together to bring this country back so we can move forward. and he indicated that we should bring him our ideas about what should be and what was reported to be coming which was the stimulus the pixar after the swearing-in we all went to the white house and met in the roosevelt room. i was like as i was hopeful at the time i brought a white paper to show the president. he said bring your ideas and i did that. the president look at it and nation and said there's nothing unreasonable, nothing crazy in your i think he said. and we were very careful

if a large institution can't pay its debts, we to either pay all the debts as they did with aig, or none they did with lehman. so what we did was to change it so that if a large institution fails, at that point, it fails. the federal government steps in. and takes it over and dissolves it, for some semantic silliness we always call dissolving a bank resolving. and then the federal government is empowered to pay as much of the debt as is needed to prevent a downward spiral but that is recovered from other institutions. so yeah, there are institutions there always will be institutions that are too big to fail without taking some action. but what we did was empower the regulators to step in put the institution out of its -- out of our misery and then control some of the debts. so as i said the institution whose failure triggered this was lehman brothers. so if you're going to say no institution should be big enough so that we would have to react if it failed then the biggest one you could have would be smaller than lehman and i've never seen anybody define that. i don't think the markets ca

aig was a big partner.e down there. >> you like being downtown. >> yes, and it gives us some synergy with the airport. >> we've seen people like wolfgang puck who have gone to airports and opened up. don't often think of airport food being great food. when you think of some locations, i can see it. what kind of stuff to you serve in there? >> well we try to do everything -- we're probably the only restaurant that i know of in a major airport that preps everything on site. so fresh food doing things in a chef way without compromise. we had to break a few rules along the way, but i think that really has helped improved the quality. >> is it sit down? >> a sitdown place. >> no take-out? >> there's to go. there's that element to it. i think when you're sitting there, you don't feel like you're in an airport restaurant for a few minutes. that's what we were trying to achieve. we wanted to elevate it and make it feel like you weren't eating what you would think of as airport food. >> i think about what i pay for