josh stirling on aig. following the markets as stocks accelerate their gains, coming off from the highs. it hit just about 20 minutes ago, the major averages are having their best days since the post-fed rally. betty: welcome back to "bloomberg markets." we are moments away from the close. stocks are rallying. they were gaining steam right until the close as we headed towards it and now we have kind of come back off again. overseas the 100 team has already rallied for two days of decline. will the bank of england have to hike sooner because of the fed? one of the many topics that we will be talking about on "what'd you miss?" we are here talking with joe weisenthal, the cohost of "what'd you miss?" in london they are on tinder to -- on tinder hooks? joe: there was a lot of thinking that the boe would have to move before the fed. then there was talk about once the fed goes, the boe will go. now when you look at market expectations, people only see a 50% chance of one rate hike in 2016. it's definitely been

a badul, net-net, is this thing for aig?o someey are letting people are well-known with wall street. they will have to rebuild with investors. betty: isn't that expected? when a new ceo takes over, you expect there will be changes of the top, right? paul: that figure good point. if it is understandable, and i agree with you, it is, you have a situation where the new team is not as well-known as the old team and that leads to uncertainty in strategy. all things being equal, it is still a negative until uncertainty is reduced by the investment community understanding the new management team better. betty: the new management team is fairly unknown to the analyst community. do you think they are moving in the right direction, paul? part of a larger cost restructuring effort that at aig.d i ag -- they do need to get costs down. this is part of the broader effort. this is important and positive. is this going to be helpful to fend off carl icahn and his attempts to break up the company essentially? paul: i think any time they redu

he wants aig split up into three different businesses. are you on his side? do you agree with him on that? >> you know, i've stayed out of the middle of this thing, but aig was much bigger than it is today, okay? and wasn't necessary to split it up. that came about after i left the company. i do not think the best thing in the world would be to break it up even further. liz: okay, good to see you, hank. good luck in the insurance business. you're still kicking hard there. we appreciate it. >> good to be with you. liz: with the closing bell ringing in exactly 40 minutes. the dow paring gains, up 177 points. some serious news breaking today in the radio business. listen. >> i am very, very pleased to announce and excited to announce -- >> whatever howard stern is about to say on his show on sirius xm radio has investors excited. forget about the listeners, stock is up today, seeing a significant gain. talk to you about what he announced. and jeff flock live at ford's research facility in dearborn, michigan how ford plans to protect with you something that has t

carl icahn is clearly taking a run it aig.acking someone who is running for president, donald trump. a new york icon, like you. trump? you think of mr. jim: i would prefer you not be our next president. i think our country needs someone who is a uniter, not a divider. we've been divided for too long. we need someone who can bring us all together. and i just don't see the donald trump is capable of doing that. never mind is. there are a lot of people who are. but donald trump called john mccain a -- said he wasn't a war hero. , forcibly, 11port million americans. that's not going to unite us in any way. he gives us quick answers to questions, like he is going to build -- he is going to have the mexicans build, their own cost, a wall between mexico and the united states. number one, he's not going to do that. you can't do that. that's not the way tonight the country. stephanie: he is a divider. we are sitting here in political gridlock. we have ceos being attacked by activist every day. what does it take today to be a great lead

aig.teresting angle here. on this particular note, is this in reaction to carl icahn? >> this has been in the works for about a year. peter hancock was going to shrink the leadership team from 15 people to about 10. the thing that is really surprising here is who left. the people that have left, the biggest name is david herzog, cfo. he recently just joined the committee by the u.s. treasury. people said he could been ceo at some point. he is departing. the other person leaving that is pretty surprising is john doyle. he is in charge of operations. replacing him as cfo is the former chief risk officer. risk is everything in an interim company. that makes some sense. his departure is really a surprise. what they're also saying is somewhat a mixed tag. now you have a lot of people that will have to perform. the plan iswhat next for the new leaders. possible success. , he was there since 2008. he is very well respected. of the senior management change, what else is on top that peter hancock h

aig is also -- >> they had a diversified portfolio. >> that's right. there have also been a number of insurance companies that meet the $50 billion asset threshold that have not been designated. so it's a spectrum here and it's a judgment that has to be made. >> your fsoc staff, i don't know if anybody is as eminently qualified as mr. woodall, but let's talk about asset managers. what are we doing here designating asset managers as sifis? when in fact they're basically brokers? mom and pops will now have to pay fees to justify why they're brokering with a sifi when we have not even established that an asset manager should be an sifi. >> yes, sir. we have not designated any asset managers as sifis. >> they learned through a "wall street journal" article. don't you think it would be more prudent to allow these asset managers to have the ability to correct whatever may be wrong so they can save not only the financial system but also those with whom they serve and instead of waiting until the opportunity that a collapse may occur which you seem to foresee?

aig, prudential and g.e.ill you comply with our requests about the analysis that went into the designation process? the memos, the correspondence, all that information. everyone here, will you comply with that request? raise your hand if you will comply with the request to document that information. i got no takers. so, why not? mr. gruenberg, why not? >> congressman, if i may say, you raise a fair question. i think probably want to go back and look at the request. it seems to me the line here is when you're dealing with supervisory information or dealing with the three companies you referenced. they are open institutions. so you have to strike a balance there. >> chairman gruenberg, listen, do you know there was a recent attack -- some allege by isis -- in san bernardino? >> yes. >> you know that, right? do you know this body gets intelligence briefings from the fbi in regards to eyes skpeus terrorist attacks? i would argue american lives are in danger by these radical extremists. does anyone argue that anyo

we have somewhere breaking news, this time from aig.ll buy back an additional $3 billion of shares on top of its current authorization of $4.3 billion of stock buybacks. the back story with aig is that carl icahn as a pressuring them to boost returns. his suggestion is to split up the company. aig succumbing to some pressure by saying that it will buy back an additional $3 billion of shares. we will be right back. ♪ scarlet: i'm scarlet fu. "what'd you miss?" it's time for the bloomberg business flash, some of the biggest business stories in the news right now. fiscal second-quarter profits topped analysts estimates as higher base rate and lower costs boosted the bottom line. adjusted earnings were $2.58 a share. the company also set a record number of holiday shipments would be handled by online sales. it was a hit and miss for oracle. forecasted when they $.60, but they missed on the top line, reporting $9 billion. oracle pressured -- it is seeing results from investments in cloud services with more customers asking for delivery onlin

the move list the amount aig is authorized to buy back to $4.3 billion. $100has billion off of the columbia refinery. it has lost 90% of its value. dropped as output missed forecasts. shares have also taken a fall, tumbling 40% over the past year. stevens be alert -- steven spielberg has found a way to continue to produce pictures he would like to make. he has raised $800 million for a new reduction operation. readoduction operation to it will create movies, tv shows, and digital programming under the amblin, dreamworks, and participant brand. investigators -- investors are placing bets against macau. a senior analyst. what is going on? >> it does seem like a disconnect if you think about the surface. bloomberg news colleagues have put out an interesting story. if you think about it, it makes total sense. stocks, under pressure, and they did come under pressure novemberr the revenue numbers came out. they were a little bit of a mess. increase,ortselling it is natural. there is a negative that and it. are pressing analyst recommendations do not change that

companies including lumbar general insurance and aig are bracing for a surgeon indian claims. after the once of the century storm last week the city is india's fourth against and is home to factories of ford motor and bmw. rail and communication networks hindered efforts by the automakers to resume production's. the associated chambers of commerce estimates a loss of more than $2.3 billion. lumbar general says the insurance industry next 10 billion rupees in claims with most coming from residential lost property such as cars and small businesses. they had record rainfall in november he times more than is normal. we are: on a website looking at a japanese well company to help unlock the mysteries of the universe. good of bloomberg.com/asia. aircraft investigations in indonesia -- a look at what the government is saying now. business.is trending ♪ rishaad: chinese trade numbers. investment partners. the surface is nowhere near the record that we write acting here area was this was lighting? >> the world economy is not that well. export numbers came down substantially. the chines

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and that is what most people did when they were worried, for example, about aig.hey went and bought other credit default swaps to protect themselves in case aig failed. and the credit default swap market functioned all through the financial crisis without any halt. even though there were lots of problems everywhere else, the credit default swap market functioned fully and continued to operate. it is now much more heavily regulated than it was before. but the regulations, in my view, are simply imposing many more costs. they are centralizing the risks instead of putting the risks out, diversifying the risks throughout the financial system, where there is much more capital to take them. it is now centralizing the risks in various government-backed institutions, called financial markets utilities. and as a result of that, they are a likely cause, in my view, of another financial crisis in the future. the way we protect ourselves is by diversification, not by centralizing risk. jennifer: peter, thank you very much. we're going to have to wrap up. thank you. announcer:

this weekend by capturing the militant group strong hold city to the west of baghdad joompt now the aigsure to boost the profit. hancock is arguing to keep them mostly intact. they say they're struggling to improve on it. another says the plan is unrealistic but time is running out. aig's third quarter results were the worst seen in four years. >>> and as mentioned, there doesn't appear to be any weakening in the force. it was another strong weekend for "star wars", "the force awakens," which took in an estimated $153.5 million in the u.s. and can did i and $546 million in overseas markets. as i was saying, those figures might not mean a lot to you but the film has sernd $1.1 billion world w50id. it's the fastest to top $1 billion in 12 days, a grossed a $3.5 million in the u.s. and canada. to the e-mail that came through here talking about how china was the difference. joe's e-mail and about when "star wars" opens there on the 9th of january. >>> now back to our headlines. if you're just joining us, u.s. futures pointing to a lower open as markets get set to reopen after the holiday br

. >> aig is ramping up it's stock buy back plan to a total of 4.3 billion. it's under activist investors pushing the company to cut costs and consider splitting into separate businesses. they already bought back nearly $10 billion in stock this year. aig shares in germany up 2.5%. >> we're going to go to break here but still to come on the program it's going to cost you more to stream on pandora and other online radio stations from your favorite artists. if you want to hear katy perry and the like, music industry is looking for more cash. we'll get you more after this short break. no matter how fast the markets change, at t. rowe price, our disciplined investment approach remains. we ask questions here. look for risks there. and search for opportunity everywhere. global markets may be uncertain. but you can feel confident in our investment experience... ... around the world. call a t. rowe price investment specialist, or your advisor... ...and see how we can help you find global opportunity. t. rowe price. invest with confidence. >>> welcome back to the show

police are search aig lake only two miles away from the site of the last week's shooting. you see dive teams going into the into custody after firing a weapon the state's university campus. bomb squads are going through the area and examining a man's car. a university spokesperson says the threats started when that man drove not o campus and crashed his car into a barrier. the school says police su surrounded him. >> a patriot as star is seen back in action as the team prepares for the texans. this is a good sign considering a frightening fall less than two weeks ago. >> reporter: hey. gronk is back. three words you know the patriots have inform like hearing. -- to like hearing. listed as limented after -- limited after injurings hi knee. what makes bill smile? seeing ron back at practice. >> he's a great player. >> reporter: gronk back after missing the last four practices. he was wearing a brace on his injured right knee it was a great sign he was well to get back on the field, but it's uncertain if he'll play sunday night. >> i'm not sure. do i seem available to you guy

aig, prudential and ge. will you comply with our requests about the analysis that went into the designation process? the memo, the correspondence, all that information? everyone here, will you comply with that request? raise your hand if you'll comply with the request to provide us that documentation. i got no takers. so, why not? why not? >> congressman, if i say, you raise a fair question. i think i would probably want to go back and look at the request. it seems to me the line here is when you're dealing with confidential supervisory information and we're dealing with the three companies you referenced, they are open institutions. so you have to strike a balance there. i take your point. >> listen, do you know that there was a recent attack -- some allege by isis in san bernardino? >> yes. >> you're aware of that, correct? do you know that this body gets intelligence briefings from the fbi in regard to isis and terrorist attacks? now, i would argue that american lives are in danger by these radical extrem

aig, prudential and g.e.will you comply with our requests about the analysis that went into the designation process? the memos, the correspondence, all that information. everyone here, will you comply with that request? raise your hand if you will comply with the request to provide us that documentation. i got no takers. so, why not? mr. gruenberg, why not? >> congressman, if i may say, you raise a fair question. i think probably want to go back and look at the request. it seems to me the line here is when you're dealing with confidential supervisory information and we're dealing with the three companies you referenced. they are open institutions. so you have to strike a balance there. >> chairman gruenberg, listen, do you know there was a recent attack -- some allege by isis -- in san bernardino? >> yes. >> you know that, right? do you know this body gets intelligence briefings from the fbi in regards to terrorist attacks? i would argue american lives are in danger by these radical extremists. does anyone ar

is aig designated as a sifi, mr. wood all? >> yes. >> should it be? >> well, at the time when they were designated, we were coming right out of the financial crisis. the first two designations were aig and jecc, companies who had had some problems during the crisis. >> some problems? big problems. >> big problems. >> okay. so it should be a sifi? >> at that time. >> at this time? >> it's half the company it was then. >> at this time? should it be a sifi? let me just go on to mr. gruenberg. in the dodd-frank act congress recognized our banking appropriately engage in regulatory oversight of large banks leading up to the crisis. as such, we put in place enhanced prudential standards to set forth the basic requirements for a bank to be well run, capital resolution, risk management, among other factors at the same time the deliberative process in congress led to an exemption from the requirement. they were to provide the fed with the option to exempt several banks from certain requirements. both in committee and through potential riders to funding bills,

is recovering. >> geks says aig is worth more dead than alive sanford c. good to see. >> you you have done substantive work on aiwe know there are activity investors want this company broken up, tell us what you see. >> i think three key points for folks at home, the company happens changed, things are you know fundamentally turn aarp h around not working the company second, you know we think stock has a lot of value we said think worth more dead than alive we believe this liquidation brake up might be 100 dollars value for 60 dollars stock in a couple years exciting, is if you are no one wants risk everybody worried about markets juncture, fed having started a campaign, people think this is exciting story the market not pricing it in, so we're looking at this in january catalyst going investor up dedicate mr. icahn going to xont likely going to continue activism. >> he wants company broken up. >> wants company broken up his insight i think i should not speak for him what is publicly reported is i know, a company that had cost problems falling that is fall

bernanke: i do know that the process of repaying the fed and the government the money that aig borrowed to stay alive, it did sell off a lot of subsidiaries. it is a business decision whether it should be even smaller. one of the encouraging things is make it more costly to be big have encouraged some of the big firms to shrink. >> so smaller may be better in certain cases. dr. bernanke: big firms provide important functions. small banks cannot necessarily provide the credit that a multinational firm needs. >> you also don' t want the united states to have financial institutions that are a disadvantage to the global institutions. dr. bernanke: there is the question of our industry competing with other industries, but it is really important for the system to be safe and strong. what we found, even though the united states has more capital and more restrictions on banks, the u.s. banking system is doing really well because people know it is a healthy system. >> coming up next week, we will sit down with presidential hopeful jeb bush. >> like us on facebook. "wall street week" is sponsored

the change was demanded by congress after the central bank bailed out aig, citigroup, and others. >>>till ahead, clicks versus bricks. as more people shop online, what will happen to all those malls? what does the future of retail look like? ♪ ♪ >>> sales numbers from the weekend are starting to come in and so far one thing is very clear. more people are shopping online. mastercard says internet sales grew double digits and above the forecast. shoppertrack says consumers spent about a billion less in brick and mortar stores this black friday than just a year ago. and the national retail federation says 103 million people had or had planned to shop online this weekend and that was more than the number who shopped in stores. those reports sent a number of traditional retailers lower today. >>> with online sales strong heading into what's become known as cyber monday, amazon, a leading internet retailer, is making sure the company is ready. courtney reagan reports from its fulfillment center in robinsville, new jersey. >> reporter: in years past cyber monday was the day the online retail

we have a news alert on aig. >> aig is reauthorizing an additional $3 billion worth of shared purchasesexisting share buyback program, so if you add this new $3 billion authorization to the $1.3 billion it had before, the total open authorization is about $4.3 billion. aig's board has authorized for their buyback program. >>> some strategists thought the fed might hold off on today's hike due to worries about the high yield market. now that rates have been raised, what does it mean for junk bonds going forward? we'll get into that next. >>> and it's a bond blowout. melissa lee and the gang will be joined by greg davis. jeff gundlach is back for more on the fed's moves. it all starts top of the hour. >>> welcome back. the junk bonds slump a big worry. jeff gundlach voicing his concerns on the halftime report earlier today. >> the jnk price is lower today, believe it or not, than it was three weeks after the lehman bankruptcy. it's incredible. it's lower today than it was when the world was deemed to be on the brink of a potential financial collapse. it's lower today. it's not hyperbolic.

. >>> aig's board has approved a $3 billion stock buyback program.nsurance giant's total amount available for repurchasing went to 3.4 billion. shares sell to 16.14. kft cutting helped general mills post an increase in earnings. despite the raise the cheerios maker saw sales decline because of weak demand for cereal. shares tumbled more than 3% to 57.24. lifelock agreeing to pay $100 million to settle charges it failed to properly protect its customers' data. as part of the settlement with regulators, lifelock has to stop misrepresenting how much they can do to protect their users' information. that's according to a court filing. shares fell 2% to 13.99. >>> cerberus capital taking a big stake in avon. the private equity firm has struck a deal to buy 80% of avon's north american business. it's also going to assume a 17% stake in the entire company. shares of avon did move higher after the news only to end the day with a fractional move. morgan brennan has more on the deal that involves one of the best-known cosmetics companies globally. >> reporter:

of beverly rogers institute institute, the local chapter of aig a and also the literary committee of schumacher logistics' committee and the volunteers and authors. we'll hear of a panel free-speech the battleground i will introduce the panel and we will have a discussion then take it to the audience. first we have our professor from computer science at u.n.l.v. crating the first-ever security degree program in 2005. since 2011 he has written a column in which he has addressed that edward snowden leaks and tools for helping to analyst avoid surveillance next leslie e. griffin is a professor at law teaching constitutional law of an -- and a 30 on bioethics law and women's rights said contributes to the block hamilton griffin and finally said chief operating officer of the first amendment center in washington d.c., gene policinski. hosting journalism works his column inside the first amendment a founding editor of "usa today" and the founding editor when dutch editor of the sports we. to get started the issue of free speech that you find it troubling. >> of a light to bring to your att

david: i'm taking a look at breaking news here out of aig.s going to be stepping down. we are seeing the chief risk officer stepping up into that role. doyle,also seeing john the head of commercial come also leaving. commercial insurance is one of the primary businesses at aig. the ceo is going to be stepping into doyle's role. what is happening at aig, you have carl icahn banging down their door. pretty tough to breathe when you have carl standing on your throat. just learned that bank of america has passed its stress test. they had to resubmit after failing last march. this is good news for brian moynihan and his new cfo. good news for bank of america. brendan: he has to short-term the company. it was about capital controls. they could not take all the different businesses and make them work together. this will make shareholders happy as well. these are the three stories that matter to markets right now. number one, no movement. the bank of england and swiss national bank left their rates unchanged. subdued wage growth and oil would keep th

. >> quick on aig.ing in terms of change after the government acquired aig. but it comes out to be a positive story since they paid the government back the money. >> they paid the money back with interest and they made more than $20 billion of profit on the stocks that they improperly confiscated. and now, i think aig is recovering, slowly, but-- >> hank greenberg want anything else at this point? >> he wants the shareholders to get compensated and we've got to go through the appeals to be sure that's so. what he wants to do. he wants the shareholders to be compensated for what the government improperly took during the financial crisis. maria: yeah, i remember. >> take care. maria: thank you for joining us. "mornings with maria" starts early at 6 a.m. here are moments from earlier in the program. >> i was part of that, anthony scaramucci was a part of that. you didn't see the movie? >> i was on the sidelines. >> the movie crushed me. maria: me, too. >> don't give it away. >> and the people have been tal

and we are now looking for 9 other companies or private individuals to join the uicccc and become a aig ten golden kettle club member with a $10,000 gift. we will be recognizing these donors at our volunteer preciation/annual meeting in february with a special presentation and will continue to lift them up throughout 2016. we have teared down this program and will also be recognizing silver shield bronzu bell gifts beginning at $500. chris and nicole? tv-9's forrest saunders live in iowa city for us this morning. thanks a lot, forrest. the iowa donor network is looking forward to the rose parade because e 'll feature a few local families. the organization will honor three people in the "donate life rose parade float." they will join dozens of other families from across the nation who have all felt the organ donation or transplant. people will see a photo of the solon man russ gerdin carried by his daughter. russ's family says they're looking forward to the parade to remember russ who received a liver transplant following a atruggle with liver cancer. " 4:07:22 it'll just mean great memo

. -- a management shakeup at aig. executives booted as pressure from activist investors grows.panies like men's aarhouse find themselves in bind as stocks plunge. we are about and hour from the close of trade. i want to go to the markets desk where ramy inocencio has your markets check. quite a dramatic difference. ramy:

if it has been in place during the crisis, it would have prevented the fed from giving money to aig andearns. the fed can still lend to banks during times of emergencies as long as the bank can pay it back. the true help can be difficult to assess. >>> the latest in the drug price gouging war. remember daraprim? the price was $13.50 a pill to $750 a pill overnight. the owner of turing fa pharmaceuticals says he will offer a pill costing only $1. turing is offering discounts to hospitals and financial assistance to needy patience. the $750 sticker price for that drug has not come down. this, of course, has drawn the ire of some in congress. they would like to make it illegal. >>> "early start" continues right now. happening now, unprecedented security surrounding world leaders in paris as president obama urging new action to fight climate change. >>> new information in the man hunt for the paris attackers. welcome to "early start." i'm christine romans. >> i'm alison kosik. it is 5:00 a.m. in the east. happening now, president obama on the last day in paris for the climate summit. heads

. >> it's aig deal. it starts n next wednesday. high-t-tech rs, the drones, wearables as well. >>> meet your future competition. >> right now, the world's most receptionist in singapore. nadine remembers visitors. >> h developers say it's just a matter of time before these so called social robots move on to other jobs. > and those are your "techbytes." >> have a great day, everybody. and i quit smoking with chantix. i have smoked for thirty years and by taking chantix, i was able to quit in three months. and that was amazing. along with support, chantix (varenicline) is proveven to help people quit smoking. it absolutely reduced my urge to smoke. some people had changes in behavior, thinking or moodhostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. some had seizures while taking chantix. if you have any of these, stop chantix and call your doctor right away. tell your doctor about any history of mental health problems, which could get worse or of seizures. don't take chanti

carl icahn has been calling to break up aig but he may not get his way this time.ccording to a record -- a report that icon has a slim chance because of how the company has performed since he took over last year. icon is not a guy to give up easily. there is more on this. but is -- what is credit suisse argument here? >> the stock performed pretty well, like 9% and then another 5% since icon started knocking at their door. what that also means is since icon came around, they announced a lot of news reports. last week, they were looking at sales, and so investors are happy they are moving at a faster pace. people do not necessarily see him shifting the entire company up. are there even any other ceo candidates out there? i -- say icon -- corey carl icahn got his way? >> a great question. you need to have somebody there who will understand the business has been there forever. the business is not generating enough value. a couple of candidates. externally, that is the tough part. if someone came in from outside and then became a board number -- a board member and ceo,

does carl icahn's plan to break up i -- aig the far enough?go until the market closes on this tuesday afternoon. stks

being shot at the same england studio, it may have been ey for aig to slip out of hjs suit and slip into one of those helmets. >> i'll tell you in the commercial break. >> we said, no spoilers. >>> and who can forget the scene in the movie "up" when carl's >> i'll send you a postcard. >> well, the movie apparently meant up a lot to this woman, she created a replica of the house out gingerbread. this fancy castle came in first place. and this hawaiian-inspired house came in second. lots of creativity going on here. and if you saw our contest on >>> and sometimes nap time is just too hard to fight. take this little guy, he's so excited to be in his jumper. but fighting off a sleepy spell. he's really intent on staying awake. and at one point -- >> oh, so cute. >> happy. and i'm j jping and i'm back ---- i guess his parents were trying to keep him awake because there and thought he wouldn't be able to sleep. >> that looks like us sometimes through the show. >> ron, wake up. >> i'm observing here. don't worry. >> and don't forget, everybody, we got a big show coming up, george stephanopoulos

today there was a discussion, and investor was saying that aig ought to break up so i could avoid thextra capital and oversight. the discussion in the largest banks of shrinking and simplifying. on top of this we have living wills which are requirements that the banks have to explain how they would be wound down. thethe practical effect is showing how they can be simplified comeau why they could not be -- why there is a necessity to have the size and complexity that they have and in the hands of regulators who are intently focused on this problem, the tools are there to move us in the right direction. >> let me talk about the living wills. the pronouncements and words of been burning key perhaps don't move markets in 2015 as they did. but give us a little prediction, if not exactly a prediction that the fed is now looking at all these big banks, the fed is saying to them if you don't -- if you can be unwound without infusion of the tarp like government infusion or go through bankruptcy cleanly you are going to have to divest. give me a prediction if you think that will happen. you thi

when you have minimum wage increas with a cpanyike l-ma, th's aig dl, whenou he a llio emoyee thehaveomazois n-- it sorof rningast em. opleealllikehoppg onine d i ink mpans likeal-mt ha a dficu ti. in aitio we' at poin in t ecomy wre pple e t foed tshopt wamart ymore, then sh at othe places because their jobs are secure and things are getting better economically, they're going to shop at places like target or nordstrom or other places and i think that the triple combination there of those three things from wal- 17 will be good for them. what about the dow itself. what are you seeing, 18,000, 19,000, what are you looking for? what is your prediction? >> i think that the u.s. markets might be the first year in many that we have a negative print on s&p and dow, and i don't think you're going to see much more improvement in the major indices over the next year. i think the better play is actually what we all thought was going to be the 2015 story which was europe and asia and i think it may actually play out because we finally have seen all of the shenanigans in the currency markets and ev

last week aig had a huge senior management shake-up.nks that created a valuation opportunity. the analyst says while they're still concerned about the current strategy, they think that activist fears should press the ceo to take more drastic steps like exiting property and casualty to get at better returns. >> all right. second stock we're watching, zoey's kitchen. credit suisse downgrading to underperform from neutral. lowering the price target to 27 from 36 thr. they look expensive. the analyst also highlighting the risk of heavy expo slur to oil relinlt areas and specifically houston. zoiy's, jack in the box and del friscos having the heaviest exposure. also part of the call, they reiterate mcdonald's as the top pick. >> are we starting to see oil trickle through? >> coach, another upgrade. bumping to an outperform. a $38 target. 20% upside. greater conviction. coach can achieve total positive comps. the new product is customer centric with wider gift offerings. piper jaffray upgraded the stock yesterday. it's had a nice run in the l

just today there was a discussion that aig ought to break up so they can avoid the extra capital oversightthere's the discussion in the shrinking andof simplifying. on top of that we have the living wills. they have to show how they can be simplified and why they cannot be -- why is it a necessity for the size that they have and in the hands of regulators, that's not necessarily going to be the case all of the time, but the tools are actually there to move us in the right direction. >> host: let me talk about, the living wills for a moment because i was going to ask that. the pronouncements and words of ben bernanke, give us a little prediction, if not exactly a prediction, that the fed is now looking at all these big banks, the fed is saying to them, if you don't -- if you can't be unwound without either government infusionc of a tarp-like government infusion or go through bankruptcy cleanly, you're going to have to divest. give me a prediction if that would happen. do you think the living wills will precipitate some banks, you said ge capital, do you see that happening to any of these ba

a lawsuit has been filed against cosby's insurer aig. >>> consumers in california have a right to filer products falsely labeled organic. the the state supreme court overturn a lower court decision that did not allow the suit, conditioning wanted state and federal officials in charge. supreme court believes allowing consumer lawsuits will catch fraud and assure consumers can rely honor again i can labels. it comes after within of the largest herb producers milk organic and non-organic herbs and falsely labeled the product 100 percent organic. the that is in the good. that is a look at your top stories. mike and alex. >>> respected basketball veteran kobe bryant had advice for sixers rookie jahlil other for, what he has had to say about watching your back off the court, coming up. >> here are last nights lottery numbers. son, the holiday season's just like football season... you got your big games... ...cheese plates, turkey, appetizers. and regular games. get it all at a great price... ...and the holiday season is won. that's my boy! fill your cart with everything you need this season,

if it had been in place during the financial crisis, it would have prevented giving money to aig andrnment can lend to banks as long as the banks can pay it back in times of emergencies. >>> the latest of the drug price gauging war. remember daraprim? it went from $13.50 to $750 a pill overnight. now the drugmaker will offer an alternative for $1 a pill. the same active ingredient as daraprim. the company will offer assistance to needy patients, but the $750 sticker price has not come down. you will hear more about this in congress and the campaign trail. especially democrats. this should be illegal. >>> president obama in paris to fight climate change, but the war on isis and tensions with russia is taking center stage. "new day" starts now. >>> unprecedented security in paris. >> president obama and president putin looking past each other. still at odds. >> paris is under a state of emergency. >> investigators suspect may have escaped to syria. >>> we had the african-american pastors, so many came up to trump tower. >> i'm not here to endorse mr. trump. i'm here to have a dialogue.

. >> and this local girl has a rare disorder that has them take aig way part of her vision until now.rand new technology, the magic moment and it is magical when she clearly sees >> really are no words for this next story. deputes in florida arrest add driver they say slammed into a bicyclist late saturday night then took off. that bicyclist died. police say 54-year-old randy joe allen was behind the wheel. in the passenger seat a woman he just met that night. they say allen admits he was distracted. what was going on, we'll let the sheriff explain. >> i think we have one more bad example what happens when you're distracted doing anything especially doing the nasty. don't do it. >> there you have it. investigators say a witness saw what happened. took down the license plate number and that's how they tracked down allen. this is his eighth arrest. >>> one family hopes sharing their heartbreak will help spare other families from suffering. they lost their beloved pet because of a hidden danger right in their own home. the isaac say jake was part of their family for eight years. he loved