refresh refresh the audiences as to why aig matters. >> guest: aig was largest insurance company in the world. it had been dominated for decades by a legendary leader who had built it into elizabeth warren and frank and stan my monster because it had so many working parts. it covered every part of the globe, was what i know about it was the most seductive to me about the company was its adventurousness in terms of what it insured. it insured kidnappings and military things, and all kinds of high risk customers all over the world and it really did change the nature of what a big insurance company could do i think. so that was my understanding. i did not know anything about the operations of the company. i. i did not understand the workings at all and how it was really broken into little pieces especially after hank left in the mid- 2000's. when insurance is not the sexiest business on the planet. >> host: and aig in some ways was a very glamorous company. >> guest: aig, american institute of -- it had a bad quality so i did not really have a great understanding. i think i was part othe p

officer james syms is facing aig number of charges tonight including visual surveillance and misconduct in office. the incidents t happened between may of 2015 and june of thisis other. two happened during traffic stops. syms has been a patrol officer since 2010. he was suspended in june. today the police chief and a spokesperson for the state'sate attorney spoke out about theke o case. certainly from our standpoint this is very concerning. very troubling. officer syms is someone who was in a position of authority and a position of public trust. what is made aware of this on june 1 and immediately upon being made aware of this, i did three things. i suec i launched an internaltern investigation and i contacted the state's attorney's office.fe investigators fear there couldts be more victims out there. if you have any information,, call police.ce. also in prince george's county, police need your help identifying a man suspected inue connection with a deadly shooting at a gas station.atio take a good look. see if you recognize this man. this is surveillance video takeo yesterday at a gas

what is aig and what role did they play?ailout -- host: we have to give our guest some time. guest: a derivative is a security that derives from other securities so if you take something like the obligations,d debt basically you take an existing mortgage bond and chop it up. you say the mortgage bond has a range of possible payouts so i am going to make a new security with a bunch of mortgage bonds sitting in a pool. i'm going to say, these guys get the first payoff, and you allocate who takes the losses. the cheapest and jump list tranches they are called, take the losses. you are creating a synthetic mortgage bond. this is one kind of derivative. a derivative can also be something as simple as i have an option to buy, an option to sell. is it means is that it itself a contract related to some other security, it is not a security all by itself. what role did it play? i think it absolutely magnified -- if you look at the junk mortgage bonds that people were looking at, there was a fixed supply of having derivatives allowing

. >> what was the difference between lehman and aig?nents paulson and geithner will tell you aig have operating, cash flowing subsidiaries. those cash flows backed up the loans from the government. >> so there's collateral. >> they would point out that the first go-round of loans to aig didn't work. nor did the first go-around on loans to bear stearns. that didn't work either. so that's in their favor. he did a very detailed look at lehman brothers. >> and the four biggest banks in america are bigger than they were then. >> in terms of the legal dispute, though, what outlines what the fed, treasury, congress can do or not do? why is there such a difference of opinion in terms of what they could have done? >> it was section 13.3 of the federal reserve act, which said the fed could take such actions in extraordinary and circumstances. so everybody agreed that was satisfied. but the problem is that the federal reserve could not make a loan, that it knowingly would lose it money. this guy makes a point that needs to be discussed. >> when wo

. >> scott, the weather, this hot sticky stuff, hank aig round for the weekend? >> well, it does look like we'll continue with the theme of 90-degree temperatures, chris and shawnette, but the fun has just gun right here at the oval folks are out and about and they are grabbing their summer shandies at the beer garden. you can see this park has been transformed. we're talking about a beer garden, there's family fun. even movie night. numerous food trucks, even games here at the oval along the parkway and this will be going on for the neck five weeks. let's talk a little bit about the weather. it's dry as we look at ultimate doppler right now. right here along the parkway as we expand the view, pretty much area wide right now, looking dry although it is hazy, hot and humid. those temperatures holding pretty steady in the philadelphia area. upper 80 toss low 90s. some relief in the pocono mountains as well as down the shore. but the actual feels like temperature how your body reacts you can see it's still feels like the low to mid 99s across much of the area. comin

getting back to your client, sending video and make sure they know their dog is have aig great time. >> it is all sending photos and videos letting the know their dog is being taken care of. >> it is a wonderful company. thank you and happy birthday to toby. that is the show for today. i'm sharon epperson. thanks for joining us. next week, summer wines. how to find a bargain to go with your barbecue. each week keep it here, we are "on the money." have a great one and we'll see you >>> right now on "nbc 10 news today," dnc drama. there is fallout because of leaked e-mails from dnc community members showing they may have been trying to help hillary clinton's campaign and hurt bernie sanders. >>> the philadelphia fire department is mourning the loss of one of their own. a firefighter from this station dies while at work but not battling a blaze. details ahead. >>> more heat is on the way today and into the week ahead following those strong storms sparked by yesterday's oppressive weather. the storms downed trees and power lines from south jersey to the philly suburbs. >>>

getting back to your client, sending video and make sure they know their dog is have aig great time. >> it is all sending photos and videos letting the know their dog is being taken care of. >> it is a wonderful company. thank you and happy birthday to toby. that is the show for today. i'm sharon epperson. thanks for joining us. next week, summer wines. how to find a bargain to go with your barbecue. each week keep it here, we are "on the money." have a great one and we'll see you >>> good morning, america. breaking overnight. california inferno. the wildfire burning out of control, exploding in size. >> what we saw was extreme fire behavior. >> homes threatened, smoke and ash darkening the los angeles skies. firefighters battling triple-digit temperatures in a desperate fight. >>> the democratic duo. hillary clinton and her new running mate, tim kaine. ready for the first big test of the ticket -- the democratic national convention, which starts tomorrow in philly. clinton confident in her choice. >> senator tim kaine is everything donald trump and mike pence are not. >> how tim kai

.>> aig well, apparently it's the new millennial fashion trend goingog braless.en are pushing back from their push ups instead wearing bra lets or going au naturale. natu w what are bra lets.ra>> >> it's moreha like a spandexpa little thing that goes aroundsro you. >> all right. all >> i thought we were going to w see their picturese here buter there's a reason they can a reac probably get away with this. thi they prefer apparently goingy like that victoria secret is hopping on this bralette band bn wag. thebandwagon. >> so, let me just -- zendaya and -- what's her name kendalled jenner. >> yeah. >> they don't really need ee bras. they can do that. that. i mean --i mn >> there's nothing i can say i y or do here that would end w so that's why i'm just lettingtt you take it. taket. >> some people can get away with those bra lets because 33 3 tone need them anyway.ne n it's your turn now jim.ow jim >> thank you shawn. shawn >>> a new study out of theutf university of michigan foundn fu couples who drink togetherog stay together. >> all right. >> researchers say thos

we are long-term investment so we are confident this relationship between us and aig will keep growing keep on benefiting from each other's purchasing power. >> you don't see this as an opportunity to raise the stake? >> we are not thinking about that at all. >> are you worried about the instability? >> we are not worried about instability. we have full confidence in the british economy and the british government. things will rebound and things, business will be as usual. this is what i think will happen. >> we don't see brexit affecting long-term plans. we have a long-term perspective. we have been in the u.k. for 75 years and we will continue to ramp up. we don't see our plans changing. >> the pound continues to fall. is there a competitive currency story here we need to talk about? >> to a degree. we do not see currency fluctuation changing the behavior of our customers a lot. in the long-term business like aerospace local currency fluctuations don't tend to drive our decision on supply chain. we can drive affordability, we that said, where try to take advantage of it. >> let's talk

what is aig and what role did they play?sidering the bailout -- host: we have to give our guest some time. guest: a derivative is a security that derives from other securities so if you take something like the obligations,d debt basically you take an existing mortgage bond and chop it up. you say the mortgage bond has a range of possible payouts so i am going to make a new security with a bunch of mortgage bonds sitting in a pool. i'm going to say, these guys get the first payoff, and you allocate who takes the losses. the cheapest and jump list tranches they are called, take the losses. you are creating a synthetic mortgage bond. this is one kind of derivative. a derivative can also be something as simple as i have an option to buy, an option to sell. is it means is that it itself a contract related to some other security, it is not a security all by itself. what role did it play? i think it absolutely magnified -- if you look at the junk mortgage bonds that people were looking at, there was a fixed supply of having derivat

insurance company aig is seized by the fed signaling that the entire u.s. financial system is on the brink of failure. >> the government's response to the crisis was problems rolled in and they dealt with them on a case-by-case basis. they were just trying to stop the economy from going into a depression. >> in an effort to stabilize the economy congress approves a controversial $700 billion bailout. >> this is truly a monumental moment in u.s. history. >> you can't let it all go down. if the banks go down, then the economy is in chaos. >> a lot of people lost their homes and a lot of people lost their jobs and eventually you saw people down size and it shook out to where it ought to have been from the start. >> the bailout under the bush administration is perceived by many conservatives as government over stepping its bounds and they launched a new movement with history. >> we're thinking of having a chicago tea party in july. >> that's where the tea party was born. they saw wall street getting a bailout when they weren't bailed out. nobody made sure their

and aig, as an indicative stock rather the financial crisis, guys, remember 97% below where they wereack in december of 2008. remember, on a split adjusted basis, guys, aig shares were about $1450 per share back in december of 2006, tyler. >> and of course that company got the federal bailout years ago, a special situation if ever there was one. dom, thank you very much. let's look at where the market stands right now at highs there 18,340 for the dow industrials. it is certainly higher. the s&p poking into record territo territory. and nasdaq squarely above 5,000. let's go to steve liesman. >> thank you very much. federal reserve released minutes and six fed banks want to raise by 0.25% in june. two new banks, boston and st. louis joined four who'd already been there. richmond, san francisco, cleveland and kansas city all wanted to raise by 0.25%. there's little parsing of this. boston, richmond and st. louis, they took their vote, their boards of directors voted to do this before that weak may jobs report. but three other banks, cleveland, kansas city, san francisco, they took their

aig is seized by the fed. signaling that the entire u.s.inancial system is on the brink of failure. >> the government's response, they dealt with them on a case by case basis. they just tried to stop the economy from going into a depression. >> in an effort to stabilize the economy, the congress approved a controversial $700 billion bailout. >> this is truly a monumental moment in american history. >> their view was, you can't let it all go down. because if the banks go down, then the economy is in chaos. >> a lot of people lost their homes, and a lot of people lost their jobs. and eventually you saw people downsize, and it shook out to where it ought to have been from the start. >> the bailout under the bgs is perceived by many conservatives as government overstepping its bounds, and protesters launched a new movement with an old history. >> the chicago tea party in july. >> that's where the tea party movement was really born. they saw wall street getting a bailout, when they weren't bailed out. nobody found them a new job. nobody made sur

lehman brothers collapses without warning and insurance company aig is seized by the fed.ignaling that the entire u.s. financial system is on brink of failure. >> the government's response to the crisis was parapa at the time tick. problems rolled in and they dealt with them on a case by case basis. they were just trying to stop the economy from going into a depression. >> in an effort to stabilize the economy, congress approves a controversial $6700 billion bailout. >> this is truly a monumental moment in american history. >> their view was was you can't just let it all go down because if the banks go down, then the economy is in chaos. >> a lot of people lost their homes and a lot of people lost their jobs. and eventually, you saw people downsize and it shook out to where it ought to have been from the start. >> the bailout under the bush administration is perceived by many conservatives as government overstepping its bounds and protests are launched a new movement with an old history. >> we're thinking of having a chicago tea party in july. >> that's where the tea party

what local doctors are now doing for w >> an absolutely terrifying story out of sandy aig, california-year-old girl woke up in the middle of the night with an intruder in her bedroom. but she fought back using her martial arts training. police say after -- she hit the actually would be kidnapper in the neck and her quick thinking her bravery had that man running out of her home. he had broken into familiar polls condo through a window. >> burglar picked me up, i woke up on the fourth stair. hit in the neck. he put me down. he went downstairs. i went in my bed. >> she's scared but she's also empowered. she'll even be safer because we'll protect her even better now. not being nay eve that something bad isn't going to happen to us. >> so scary. this is what the family has done. they have now installed security system and police, of course, are after that man. >>> the search for three missing teens in wisconsin has a good ending. the two, senior old and 15-year-olds went missing yesterday afternoon and search crews were able to locate the boys bikes near abando abandonee in dodge county.

is arrested and then takes control of fannie mae and lehman brothers collapsed without warning and aiged by the fed signaling that the entire u.s. financial system is on the brink of failure. >> the government's response to the crisis was problems rolled in and they dealt with them on a case by case basis. they were trying to stop the economy from going into a depression. >> in an effort to stabilize the economy, congress approves a controversial $700 billion bailout. >> this is truly a monumental moment in american history. >> you can't let it all go down because if the banks go down, the economy is in chaos. >> a lot of people lost their homes and a lot of people lost their jobs. and eventually, you saw people downsize and it shook out to where it ought to have been from the start. >> the bailout under the bush administration perceived as government overstepping its bounds and protesters launched a new movement with an old history. >> the chicago tea party in july. >> that's where the tea party movement was really born. they saw wall street getting a bailout when they weren't bailed

and that's aig thing.r her and one she's going to seize coming out of this convention and the pick of tim kaine, virginia, more moderate is a really smart pick in that by a. because it allows them to talk to voters that we didn't think would be available to them a month and a half ago. it's one thing about donald trump being the opponent, so many great opportunities. >> jim messina, anita dunn, thank you both. >>> coming up, more next from the convention floor in philadelphia. let's have katy perry play us to break. stay with us. before taking his team to state for the first time... gilman: go get it, marcus. go get it. ...coach gilman used his cash rewards credit card from bank of america to earn 1% cash back everywhere, every time. at places like the batting cages. ♪ [ crowd cheers ] 2% back at grocery stores and now at wholesale clubs. and 3% back on gas. which helped him give his players something extra. the cash rewards credit card from bank of america. more cash back for the things you buy most. the

he's got aig performan bce ♪ >> you remember his face, the smooth voice.ry mcdermott was runner-up on season three of "the voice" and he is in d.c. this week to play at the song bird. thank you for joining us. >> thanks for having me. >> you're kind enough to stop by with us and we appreciate it. >> it's a pleasure. >> so tell me what you're doing in town? >> i'm playing my first ever d.c. solo show. i've been lucky enough to play here before. i've played the national cathedral but this is my first-ever solo show. >> so you're going to be in adams morgan but i have to ask you about "the voice." what was it like to be part of that show? >> it was an epic experience. i didn't know what i was in for but it was nothing but positive. of course now known throughout america. it's a wonderful experience. >> do you still keep in touch with any of your fellow colleagues or even some of the judges? >> yeah. on occasion i've popped in and spoken to blake. i've spoken to cassadee a couple of times and spoken to nick david actually. >> you're from scotland. >> i am. >>

lehman brothers collapses without warning, and aig is seized by the fed, signaling the entire u.s.inancial system is on the brink of failure. >> the government's response to the crisis was peripatetic. problems rolled in and they dealt with them on a case-by-case basis. they were just trying to stop the economy from going into a depression. >> in an effort to stabilize the economy, congress approves a controversial $700 billion bailout. >> this is truly a monumental moment in american history. >> their view was you can't just let it all go down, because if the banks go down, then the economy is in chaos. >> a lot of people lost their homes and a lot of people lost their jobs and eventually you saw people down size and it shook out to where it ought have been from the start. >> the bailout under the bush administration is perceived by many conservatives is government overstepping its bounds and protesters launch a new movement with an old history. >> we're thinking of having a chicago tea party in july. >> that's where the tea-party movent was born. nobody found them a new job, nobo

suspect want that person reportedly said todo investigators, now it makes youu okay, he said he's work aigdy.inus there must be a connection ate some point. >> what's the connection or isth there a connection.ctio >> we also had clarification on how that suspect was killed. ki. earlier we thought that thathatt person had taken his own life. l the chief coming out and sayings that wasn't the case.asn't case was smoked out by officers i oic believe with some sort of devi device. >> the bomb squad unit afterit a they had been trying toeyo negotiate with him apparently hn for quite some time.quite t >> he also said there weree w explosives elsewhere and that at was found to not be true. >> right.>> r >> so we're just still waitingtw for some more information. we'll try to get it to you as iy soon as we get it. as we in the meantime. 8:55. another quick check on ther forecast before we get on to thg 9:00 o'clock hour.lock >> all right. guys, it's just -- more heat, h more humidity.id it's more of the same althoughao it looks nice out there. t again don't be fool much the hoh and humid. 83 degre

. >> could this rain be stick aig round for while kathy. >> it look like it's going to, iain. first date dnc on monday we had lot of heavy rain and storms and the last day here we go again. ultimate doppler you can see all those reds and oranges rain rates about two to 3-inches an hour in these downpours. we do new severe thunderstorm warning in effect for kent county, delaware and this is until 5:30 this afternoon. this severe cell near dover moving southeast at about 20 miles an hour and at that speed, it will be in the dover area about 5:06 camden delaware at 5:08 rising sun at 5:14. nothing ya'll no at 5:22. riverview at 5:24 and 5:32 in frederica. right along route 13 south heavy rain and quarter sized hail associate width that storm. in the lehigh valley along 476 northeast extension we do have heavy rain and also south jersey heading down the expressway toward mays landing estelle manor and atlantic city itself rain rates of about two to 2.5-inches an hour fortunately these are moving quickly. we are seeing some flooding. we're looking at the wide view this area of low

a slight chance of aig thunderstorm on saturday, most m of those storms on saturday sata look like they'llouth, okay. okay. if it does happen, southernn maryland, maybe fredericksburg, staffordic county places like that, i don't think so much here for the district and just andust a chance, a very spottytt thunderstorm is possible on poso sunday but again, for the mosths part it looks like it's going gi to be drive. how about today? we're goingda to go 94 fory? a high temperature. lower humidity, too.umidit. so that's really the headline. n winds will be out of the westt t at about five to 10, as slightly drier air is coming icg in. high pressure is still to thellt south of us.fs. we seat front back out to the te north and northwest.rth an n the front will stay there the today.to we're getting drier air coming in, slightly cooler behindoolerh this front. f this front is going to comeo com through tonight and be around here tomorrow so where thehe front is tomorrow, and it and i look south of the city, so wherey, s that front is tomorrow will be the focus point for somee thunderstorms tomorr

they say aig was different. its subsidiaries offered better collateral. could have and should have been saved as ball argues, it can't happen now because congress has eliminated the fed's ability to do such bailouts while geithner, bernanke, and paul say they couldn't legally have -- >> 200 pages to tell us this? >> it's a detailed look at lehman's finances. it's part of every conversation that you have about the financial crisis ends up in a debate over the lehman weekend. >> look. there were a lot of things that were happening. did they examine very closely the collateral? probably not they didn't have time. >> they did. we don't have to have this discussion. you know why? because we have a guy who was in the room and there at the time on the set. and this was coincidence. i don't think kevin would have agreed to sign up for this the newspaper was coming out today. >> had i known, i wouldn't have signed up. >> did you look at the collateral? could it have been legally saved? have you seen the laurence ball paper? >> one is i haven't seen the paper. two

we were willing to bailout aig and citigroup. had we not done that, we would be in the 1930's.eed to take a lesson and realize there are times when you must nationalize and monetize. they need to do that now. if they do not, we will have a surprise one morning. ellen, thank you so much. she will continue with us on radio. robert doll, thank you so much. whalen, we will see you in doubt 20,000. 20,000.w this is bloomberg. ♪ jonathan: goldman due to report earnings within the hour. viewedconnection loss shares of netflix plunging after subscribership felt away three-year low, fueling concerns about their future growth. alix: veronica trump -- melania trump tells the world about her husband but did she use her own words? jonathan: for our viewers worldwide, from new york city, i am jonathan ferro alongside david westin and alix steel. the action happens after markets closed. alix: a little bit before. quite a night in cleveland at the republican national convention. we do have earnings from netflix, ibm, and yahoo!. david: johnson & johnson just came out with their quarterly resul

he was dance aig round with alca the young kids.ids. >> doing the stank key leg. >> stank, stank., stad peaceful passing.g. his status with the team and redskins fans was legendary.enry >> that's right.s rig. >> absolutely. >> 9:20. coming up another police department in mourning and out of this world exhibits right here in d.c. celebrating an american who are row and talk about team work.m w we'll show you how somee bystanders helped save a a driver's live when check in with what else is making headlinesean coming up next.ng u nex >> i love those stories.e those i'm sorry, everybody, taylor swift calling bs on kimye.im kim and kanye west that is.that we'll go live to tmz for thehe exclusive.clusiv. ♪ ♪ exclulife's sharing a meal. ♪ ♪ and a kitchen with room for everyone. spend $4000 or more on a new kitchen and get 15% back at the ikea kitchen event. life's sharing a meal. and a kitchen with room for everyone. spend $4000 or more on a new kitchen and get 15% back at the ikea kitchen event. >> back right now. i'll tell you what we have fveloping story for you comingy out of northwest d

because we've had all these different theories been buzz aig round.ig round.n are there like closedelo doors meetings with speechith s riders this morning? what'snina going on? >> i think some speech writershi might be in little bit of trouble this morning. morni the trump camp is saying that nn one is in trouble. you know, you got to feel littlt bit of sympathy for melania trump. she's not a politician. it's really the spotlight was ws shining on her very brightly. bl a lot of pressure. and of course, no one believesee she wrote the speech on her own. she had a team of writers, andra it looks likes they did done her wrong.g. >> even though -- she did say iy one interview that she wrote tht speech basically herself. which we don't -- nobody --obod believes, i know. >> later statement one of thef t campaign managers for trump saii that there w and you know she's english isn'n her first language and only ando there's a bit of sympathy for someone in her position, but yoy can't plagiarize a speech. sec you just can't do it.. >> but trump 101 they seem a little bi

aig got in trouble for stuff not related to glass-steagall. all the constitutioinstitutionsd had nothing to do with that. we talk about commercial banks we talk about basic bank that takes deposits. they got in trouble for writing bad mortgages. even if glass-steagall comes back they're going to write mortgages, and i bet in the future they're going to write some bad ones. >> it's an even playing field. you cannot take a commercial bank with $2 trillion in deposits and have it compete with a small investment bank. tony's point on leverage, leverage is irrelevant. the leverage now is government bonds which aren't counted as risk weighted asset on bank balance sheets. so you have these banks around the world massively long govlt bonds, which have gone from 100 to 190 in the case of german bonds. you're talking about risks on bank balance sheets not counted as risks. >> we could have a separate conversation about where european banks are and where they're getting their capital liquidity. it's very different for the american banks which is what we

it features tesla, viacom, aig, proctor and gamble, ccs. a preview, next.monday, don't miss the exclusive interview with jamie dimon, monday at 1:00 p.m. eastern on "power lunch." t-mobile covers your business in more places. so you can take your business just about anywhere. plus, our extended range lte reaches twice as far and it's 4x better in buldings. get more done in more places. switch your business to t-mobile@work today. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. freshly made in the tokyo-japanese tradition, each batch is small. special. unique... every bowl blurring the line between food...and art. when you cook with incredible ingredients... you make incredible meals. fresh ingredients. step-by-step-recipes. delivered to

events start aig round the area. look the wells fargo center crews making final preparations. making sure the microphones and lights all work. raising the balloons for the big drop and ensuring that philadelphia looks good. so are we ready? once again, for the moment in the international spotlight. >>> all right. let's ask the expert. kevin the executive director of philadelphia 2016 host committee for the dnc good morning, kevin. >> thanks for having me. it's great to be here. first thing in the morning. >> karen asked the question. we said it. are we ready. >> absolute. i think we've been waiting for this moment for three years when you think about it and here we are the city looks great, a rona looks great. people are excited. people are flying n we couldn't be more happy with where we're at. >> i can feel the energy in the area. you see all the buses here. you know people are arriving. there's tons of stuff for regular philadelphia and people in the surrounding areas to do as well that are great activities and mo

a shower earlier across southern maryland and push aig cross thet bay we'll see additional showero anderhaps thunderstnaormsthuer develop as early as the noonhe o hour. so just keep that in mind here.h you'll want to keep thatp tha umbrella handy won't rain allai day but scattered showers fromhf time to time in a rathero ti unstab 88 sweaty degrees this afterno afternoon. sorry about that. i'll have the seven day which w features heat, heat and more heat. >> whoo! >> how much heat i'll have those details in a minute.deil find out about roads. roa >> well the roads are just theet sad as that heat heat heat hea report. right now you're taking a lookoo at 66 on the westbound side.nd d we have a crash in the x lane one of the trucks involved righr there. this is headed westbound betweeb nutley street and the viennaienn metro station.taon so use caution.tion keep it to the left lips to geto through that area.thugh we'll switch it over for a look in maryland. right near 270 on the inner loon we'll take look at that camera.c dealing with an earlier crash ih has cleared.has cle it was closer t

that was done in '09 of prudential's acquisition of star edison in japan out of aig. i think a lot of people are feeling that there is opportunities created complex in the uk obviously but not off the page. >> didn't we announce the pickup? you have a big fall in the pound. you think there are a lot of people flooding in to look at it. as we all know, literally, nobody knows how brexit is going to be accomplished assuming it happens, which i think is likely. nobody has any idea. 150 laws that have to be addressed and changed. it is just very hard to kind of see your way through that but it depends on value. to your point, the pound is cheap. the dollar is very strong. there are some industries i think where acquisitions could make a lot of sense. >> can i ask you given be your history at golden sax international, what is going to be the impact in terms of the financial business in london going forward? >> i think everybody is trying to figure that out. i actually do think that resources will kind of leak into the continent. i think that will happen. i think it probabl

hank greenberg, the former head of aig later today. coming up, it is "bloomberg markets."re seeing. vonnie: absolutely. we are talking about all of these indices are raising their post brexit losses. also talking about the impending ftse 100 bull run. withll also be speaking richards all done i will about the equity rally. negotiating good deals for the u.k. and where we live at the international airshow -- speaking with the pga cio about their interest in gambling. that's all coming up at 10:00. pick and in the sea and you will find a record. -- a closing s&p is on an intraday basis record year. as dow has gotten there well. at least on a closing basis. if the dow closes here, it will be a record. not yet on an intraday basis. still, the fact that the dow has gotten there is definitely notable. the nasdaq positive on the year. if we look at the groups on the move today come energy shares are the best performers along with oil prices. a big gain there. utilities, consumer staples, telecoms are lower. cyclical led rally. energy shares rising along with materials. steelmaker

.>> aig speculation might be coming to t an end.nd taylor swift's controversial new bow tom hiddleston seeing eacc other for pub will he list iss the. he told the hollywood reportertr "the truth is that taylor and ii are together and we're veryy happy. thanks for asking. a he went ton say -- (laughter). >> and he said mind yourd you business. >> mind your business.d ys. he went on to say that their t whirlwind romance is not a a publicity stunt. stunt. he's putting to bed. b switch has yet to publiclyy comment on their courtship.. >> what do you feel about -- >> why can't two celebs just twb fall in love without --itho -- >> annie, she was just so in in love with calvin -- what's hisis name, human.. >> anybody can help me with his name.. >> calvin harris. >> people change with thengwith seasons. >> ♪ >> do you. finally, he's no spring chickenn any more but he's about to be b daddy for the eighth and roll. . mick jagger is 72 yours old andd about to be new dad.out to be nd he willad will be -- he is 72.2. okay. nanny hammer also a dancer she's expecting. he has seven other kids but getg

out of the game as poke stops but that really doesn't stop anyone whoeo is just happens to be walk aigrom perhaps a pokemon pen popping up here or there.here here at the museum they toll usl they're not telling people theyo can't play the they're really just trying to to educate them and send theen the message it really would not be e appropriate for them to do so. s then there's the issue, guys, of privacy.priv privacy concerns centered alred franken has sent a letter to tho game creators asking them to disclose their data collection practices. the senator saying in his letteh that quote all information can c be shared with pokemon go and its third parties noting that ii information including a child's information because this canusec link if you sign up throughthro google it can link to your you googles male and oh google datet that you have on your computer. basically saying that pokemon'ss policy says all that data is a big asset. asset let's say they sell the game too somebody else and all of that tt information goes along with it. so senator franken asking theing game creators fo

aig had nothing to do with it. lehman had nothing to do with it. bear had nothing to do with it. the gses, the reserve fund, and on and on and on. so to attribute the financial crisis to this limited amendment of glass/steagall, there's just not a correlation. >> what about citigroup? >> citigroup actually the problems were in the bank itself and not in the affiliate, and as i mentioned, that element of glass/steagall remained intact. so it was nothing. and i think what's perhaps most indicative here is that the very first senator who called for actual repeal of glass/steagall was senator glass himself. two years after the bill was enacted, he said this is creating havoc for american industry trying to underwrite and tried to get his own bill repealed. >> i want to go back to this though. collateralized debt obligations played a huge role in the financial crisis. would banks have been able to be involved in those to such a degree as they were if there had been no repeal, the partial repeal as you put it of glass/steagall? >> yes, because the so-called cdos were able -- were eligi

>>hris >> we're with fox fox5 national hotdog day celebrate aig cross a the zoo.s on it.on you enjoy your lunch. lunch. >> thank you, sir. t national hotdog day. i think we got a challenge.en well see if erin can eaten hotdogs. >> i can eaten hotdogs.dogs do it by 11.y you have 35 minutes to eaten hotdog.hoog >> thirty five minutes. >> erin como can't eaten hotdog. for 10 days.for 10 d >> i couldn't do it.ldn'to i >> no i couldn't eaten hotdog.ot no way.no way >> 10:26 is the time.>> still ahead on good day d.c.. frank discussion on race inace america from the point of viewfv of black parents worried about o raising their children in worldw where they live in fear ofr getting gunned down by police. c paul wharton put together aether special panel. panel we want to you weigh in as welll talk about what the conversatioc is like in your house. hou tweet us with the who are tag tg good day d.c.go use your comments as part oft this segment much that's comingt up next.up nex stay with us. with ♪ ♪ fios is not cable. we're wired d