aig, metlife and prudential. results appear mixed as shareholde shareholders try to figure out where the sector is headed. so morgan brennan is here with us this evening. she can do it for us. good to see you, morgan, as always. >> the bar is high. >> the bar is high and you've put a lot of faith in me. to put this in perspective, aig reports three different earnings per share numbers. so it's quite a situation. >> low interest rates have been really a factor depressing the stock prices. have they moved past that yet or not? >> a great question. and certainly this low interest rate environment is one we have seen plaguing the insurance sector for years, not so differently than the banks. that being said, the good news in this quarter, with these big names, prudential, metlife, aig. what we saw in the earnings is that profit actually -- it grew for the first time in more than a year for each of the names, did he say bite that low interest rate environment and despite the fact we're seeing issues with some of the p

e such high the business supposed to be aig's prides and joy. >> aig has done a lot of the things thatme inside the bloomberg here, this is a look at how the aig got from icon. >> absolutely. when you look at something like price and plans that investments for instance, it has about $350 billion worth. that was something that did the quarter.n waste the outlook there? >> surprisingly aig net is 18% theyncome to exit aboutlan hedge fund holding in this quarter, hedge fund were a bright spot. they're keeping about half of holdings. they're shifting a lot of portfolio to longer term. have some private equity. they'll be doing a bunch of direct lending. those are helping to offset the underwriting. >> thank you so much. ahead, we got our options inside. this is bloomberg. >> i'm scarlet fu. time for julie hyman. is -- he'sme for joining me in chicago. tim, as you know, we have this selloff go on for eight straight sessions. at what point do you think election outcomes are priced in here? keeps going. the hedging keeps going. where does it stop? >> absolutely. few really -- we're only a per

erik: i am here with the ceo of aig. your shareholders are not happy, the stock is down almost 5%. we are strategic -- we are pleased on a strategic quarter, wasthe quarter in my mind characterized by five major transactions where we divested in non-core activities. one investment in a growth opportunity, but the earnings disappointment was centered around some legacy activities, which we discontinued doing, prior to 2010, where we had to take a write-down on what we called nonstandard structured settlements. if i look at the core earnings potential of our business, this quarter was very much on track to hitting long-term goals. erik: as much as you want them to, it is a challenge for some investors to look past the legacy numbers. the structured settlement costs was more than $600 million, one of the biggest reasons you pointed out why you missed analyst estimates. have you scrubbed the balance sheet, or is it possible that we will see more of those unpleasant surprises? ,> when we announced our update the marketclear between legacy and operating, and the legacy portfolio contains

morgan stanley >>> shares of aig getting hit a bit this morning. fell short of analyst expectations for its latest quarterly earnings report. it also announced an additional $3 billion share buyback as part of a large capital return. aig's president and ceo peter hancock joins us right here at the new york stock exchange. it's a short walk from aig, a few blocks away. always nice to have you here. thank you for being here. >> it's good to be here. >> you've had a lot of progress. and i want to make that clear. but there are a number of people who say that progress didn't show up as much in this quarter, peter. and they're particularly focused on the core commercial pnc loss ratio as the most important data point and one that they're disappointed in. explain what happened in commercial pnc and why perhaps they shouldn't be disappointed, or should they? >> well, i've got to start by saying i too am deeply disappointed as a former cleveland resident. and i just want to begrudgingly congratulate chicago where i'll be tonight. so, yes, i'd like to focus

why save bear stearns and let lehman fail and save aig the next week? discretionary policy create a lot of problems. the need for llr is somewhat ironic given regulatory rhetoric. financial regulators are quick to highlight the disciplining effect of market forces. almost never described as such but a bank run is the most fundamental of all market system forces. many scholarly papers are written to explain how the battle -- business model, investing long-term loans is a market innovation, not a mistake. investors require banks to fund themselves using short-term liabilities precisely because of this fragility impose discipline on the banks investment decisions. it was unlikely to be a successful banker, at least not for very long. regulators espouse the enthusiasm but simultaneously argue they need lots of tools to prevent bank runs and fire sales. house got -- hal scott suggested is stacked against new discretionary fed lender of last resort powers. the political sticking point maybe not lender of last resort so much as free and discretionary of the pr

executives at aig say they've agreed to sell all the shares of aig fuji life insurance to pacific century group. the japanese unit has more than a million life and cancer policy contracts. the executives say the buyer already takake thehese over. they also say the firm will focus on nonlife iurance in japan. the deal markrks the entntry fo japan i io the groroup heaeaded richard lee.e. the grgroup has bought life insurance businesses in asia in 2013. its business has been expanding. >>> japan's nikkei share average ended fractionally lower as investigators booked profits from sharp gains. phoebe amoroso has the details from thehe stock exchange. >> we saw a bit of calm return to the markets as the post-u.s. election rally ran out of steam. treasury yields and the dollar also eased a little. there was some correction there. let's see the closing level with tuesday, november 15th. the nikkei 225 finished just a touch down at 17,668, but it's still hovering around a nine-month high. the broader topix rose 0.2%. the dollar climbed to the 108 yen level, reaching a five-month high, on the back

they say the sale makes aig more lean and better focused. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i am paul allen, this is bloomberg. rishaad: thanks. theung making a big bet on industry -- paying for harman international. they are storing, harman closed 25% higher. this is what samsung sees as the future. >> it probably is the future for many tech companies. they are trying to move away from things like smartphones, which is reaching a saturation point in many areas of the world. the deal is expected to close sometime in the middle of next year. arounde paying something $112 per share, which is attractive, and there's a 20% at friday.the close at puttinglooking its technology, it's microprocessing and software, and marrying it with harman's entertainment. they want to present essentially a movable mobile device that is all-encompassing, your gps, your entertainment all in one place. samsung said is not about cost-cutting, but the synergy. operate hanlan -- harman as a standa

on a programming note, aig's ceo peter hancock will be cnbc at 9:45 a.m.astern. >>> a few other stocks to s t gr the fourth quarter which does include the important holiday season also missing analyst's estimates, hurt by soft demand and production analysts related to its new flex band wrist device. avis budget topping forecasts on higher rental volumes and increased prices. the company now expects full-year profits to come in at the low end of its previous estimates, due to softer demand in europe and the americas. 21st century fox reporting better than expected first quarter results, driven primarily by higher ad and affiliate revenue from its cable channels, including fx and fox news. the company's movie studios saw higher revenue as well, despite the box office disappointment of "independence day: resurgence." >> i've still got to see that film. >> to to the cinema. >> except it's not in the cinema anymore. >>> let's move on to today's top trending stories. the campaign trail couldn't help hillary clinton from supporting her hometown chicago cubs. clin

that youthi" for the nationwe protests ainst him...onald trump has got and thahe plans to bring thecou aig boswell, cbs news, eite hou. > ((brian loftus)) > a "not mpresident' otest happen on the l vegas str authorities say nearly a thousand protesters walked from the linq to trump towers. metro says they arrested 7 protesters said their message wasn't directly focused on being anti-trump but rather pro-safety, and supportive of the l-g-b-t-q community, women, and minorities./// ((brian loftus)) >>> taco bell is going big on the las vegas strip. the fast food company known for it's crunchy tacos and bean burritos is opening a flagship restaurant today on las vegas boulevard and harmon. that's where we find 8 news now's mauricio marin live. so what time are they opening the doors? >> they're still a few hours away from opening up the first ever taco bell cantina. just a few last minute touches to take care of but they say it'll be worth the wait once they open at ten tonight. let me show you what's really unique about this location. adult beverages all in one spot now with this freeze tap w

aig hiday it oelf our celebration in america thas washed up on the british shores. here is a plaque friday consumerism that comes ahead of christmas. that's what a lot of britains american business is up 8% since the same time last year. can you see on the scenes behin me, people here are trying to court corrs that come here to buy goods, that's 1. billion this year. >> tse need. a lot ofrents e tree. thank you so morhat. ju fighting back trols.plus some critism of "snl". on this thanksgiving morn oure up wh us here? on "early today." ...they're not al. turns out, they're really... ...different. who knew? had no ..id? 's aped like a dental tool wit. ...brushea go proith oral-b. 'und he suoundea tooth to... ...gently remove more pquan the #1 brand useby dentists worwide. oral-b. brush like a pro. achoo! snap achoo! snap aco! acho snap snap achoo! achoo! feel a cold coming on? zicam cold remedy nasaswabs shorten colds with a snap, and reduce symptom serity by 45%. shorten your cold with a snap, with zicam. the first place to stop and the best place to shop is kohl's b

they had 84 for aig outside the valley pahrump at 71. bolder 73 at 73. heise outside death valley and laughlin the upper 80s. overton 88 degrees. now high temperature 80 again. nine degrees above normal this is our fourth day this november we had 80 degrees. record is eight t. is safe we will get close here. neighbors on the east side had increases in dust and junk just barely and that was the east side only. tomorrow we will start at 62 degrees. peek in the low 80s by the mid afternoon before we trail off. look at this. sunset 4:38. are you kidding me. i guess morning folks are happy. the wind less than 10 miles per hour. a light wind day expected. for election day there are three battle ground states showers. michigan, ohio and western pennsylvania. not huge just scattered rain all 3 of the states. we are clear most will dissipate before they get in southern nevada. it is all moving up way up north from canada it is possible late in the week high clouds but only a couple. temperatures above normal for the next week and a half possibly two weeks. 80. mo

i have to tell you i actually like the aig number. i know aig was down really bad, but i interviewed peter hancock this morning, that stock at 58, that's a good buy. let's go to jim in florida, jim. >> caller: hey, jim. originally from bay ridge, so giants going to beat the eagles this weekend. >> thanks for nothing. i'll still help you. >> caller: real quick, kra, creighton corporation, touted on cnbc months ago. its pe is around 7.8. it's got record earnings and sales, and it's dropped 30% in the last month. >> because it was up 100% and 66%. you know what, this is a stock that at this point we're going to wait until after the election. this is another wait until after the election ones because it's a good old-fashioned kind of industrial. no need to rush. mike in new jersey, mike. >> caller: everybody's got to eat, jim. how about hormel? >> hormel, last quarter was not perfect, but i do like the sentiment. i would put some here and then wait. we had ths down 16 points. wow, looks like the ralcorp. that conagra sold to them, not wor

it should not the aig here comes the nice. partly sunny skies breakthrough on saturday as we clear out. 50 on sunday sounds pretty good. it want be too windy yet. our next big weather maker comes in on monday. we will be on the warm side, so it brings us more rain than snow. it will also be windy on monday into tuesday, so be ready for that. look at the doppler 12 radar network and there are some snow showers to the west of us. this is very light, not touching the ground. some of this will try to come into our area tonight. it totally makes it disappear. i'm not sure we will get that around here, but we will have just a couple of flurries here and there. as we get into saturday, we start off with clouds early, b and it will turn out to be a nice afternoon. the upcoming weekend looks delightful, especially for this time of year, temperatures back above average. cool shoppers, i don't know if that means you are cool are the temperatures are cool. 42, 40 five, going in the right direction. 50 degrees on sunday as we warm up nicel

large g students from the community college of philadelphia active visits spent the afternoon raise aig wearness about human trafficking poured red sand on the sidewalk to draw attention to the cause and walked to city hall. when you see news happening take out your phone and shoot it and use the fresco app to send it to our newsroom you might get paid. lucy. >> thanks much, iain. to days before thanksgiving in philadelphia police are giving back. officers loaded boxes filled with meals for their operation thanksgiving cam paper. 420 meals lands on the tables on those each need. each basket have will a turkey and the sides. donations made all of that possible now. >>> your health now and what you watch before you go to bed. watching sight length movies before you go to bed may give you nightmares a big duh for me. researchers surveyed nearly 1300 turkish adults and children and asked about what they watch the night before and the types of dreams they had. well turns out people who habitually watch violent shows before bed you tended to have violent dreams more often. researchers say tha

aig's results crossing the bloomberg.20.re looking the company boosting its share buybacks by $3 billion worth of share buybacks. that is another authorization of plan.epurchase apparently, contracts with accident victims was one reason why aig posted profit that fell short of analyst estimates. afterof course we have the bell, facebook and fitbit earnings are out. facebook out just modestly after beating across the board, beating out revenues and earnings, but not dramatically. it has actually turned positive now. matt: possibly more interesting is fitbit. % drop. that 28 fo the company came out with an outlook that really disappointed . fourth-quarter adjusted eps, fitbit saying it will be as much as $.18. mystery was looking for as much as $.75 after bringing down at that dictation. -- bringing down its expectations. matt: coming up, we break down fed decision. this is bloomberg. ♪ anchor: let us get to the big story of the afternoon. joe: federal reserve held rates steady. boesler covers the gains on the outs for bloo

erik: i will finish by talking about aig.e said before maybe they should consider selling off its japanese business. do you still feel the same way? last week, they had a disappointing quarter, stocks of marginally today. what is your current view? >> i stick with it. aig -- and i have to be careful because we are on the board, i have confidentiality there. i am hoping that peter hancock agrees, which i think he does, but i cannot speak for him. i look at the big picture. you look at companies with unique values. there are a lot of legacy companies at aig that should be sold. peter has been doing some of that. i would like to see it being done quicker. is being done, so aig is selling below its equity value, which is important in the insurance industry. so you sell those, get out of those legacy businesses. we talkedtent, what about in japan, life insurance. that will make that company worth a great deal more. that said, i cannot go into what is going on more than that. erik: one quick question. you increased your position in

and aig soared. aig increasing its stock buyback program by $3 billion. and finally, a quick programming note. aig ceo peter hancock will join the game in a first on cnbc interview that will happen at 9:45 a.m. eastern time. >> the s&p 500 posted its longest losing streak in nearly five years, down nearly seven straight as of yesterday. the market now going to pivot away from the fed as of december and turn its attention now to the friday jobs numbers, which obviously affects the december meeting. also, next week's election, joining us now is drew maddust. and chief investment officers for equity directors, which has $350 billion under management. drew, one thing i like is sort of the outrage and the faux sort of, that would never happen, when you call the fed political in some ways. that's the last thing we ever need, for the fed to be political. and they would never be political. but then everybody just says, we knew the time was right now and fed said it yesterday, yeah, all our ducks are in a row to raise, but we can't do it now, we're going to do it

. >> were you in aig crowd when it happened? >> i was in e street. and i fell, and messed up my face.an en continued to ep falling. i fell dowthe stairs. ke, ended liifes i was afraid to go out i feltike, "oh, my god, i' gonna be walking with a walker ane.or c >> but you madthe coback. >> yes. >> that's fic.really ter >> you kw, guys... [ cheers and alause ] .she did make thatremeous t whcomeback she rlly came over was that fea >> as an emecy-room physician,o you treat people that are there becausehey've just fallen fono reason? all the time. it's so critical for seniors to that why i'm here today. 1 in 3 adults over the age of 65 will fall every year and those numbers are climbing at an alarming rate -- half of all adults over 80 -- half! w, once you fall, you're 2 to 3 times more lely fall and that's what happened to renee. >> yes. >> and now, knowing that there are ograms that can lp them, makes me feel better as a doctor 'cause i can refer peopl because u n't hurt somebody with tai cheng. >> yeah. >> there's no -- this is a easy. >>nd it has made

aig turkey, you might morrow >>t nig pty >> maybe pick up arie ght. chicken. fu want to help u make quickly read >> this is so simple.s a cranbe. my mom's recipes. you don even have to?98v turon st ta one of these microplane graters and just grate t orange zestrt. once youq? see that, then you ?o u jus take yourest and put?w here we've got a cutim the peel of the orange. then you're left with it lik going in. bit of orange liqueur. if you're making it form the kids, you can leave that out. >> takes the edge off the day a little bit. >> it does. right? relax bela little bit. food. i've got a shallot here that i sauteed. i'm going to add to that some sun-dried tomatoes. if you've go the some of those, throw those in. if not, you can leave them out. it is not crucial. thenook my gen?o? beans and put them in the microwa like two minutes. that's kind of like blanching them. instead of putting, in the in a crunch. >>>ow the ease yeriest cake you ever made. a cake mix and add to it a can of pumpkin. that's it. it is just the cake mix and the pumpkin. and some pumpkin

. >> dave, you got aig that means rain for the last few hours of your election day. dress accordingly. >> if you are waiting in the lines, soggy weather. let me show you the veil of rain. the rain showers are light but steady for 30, 45 minutes at a time. all right? so there is the rain showers for cleveland and akron. for menter and burton. steady rainfall for chardon into solon. you will get soaked if you are going out. more steady rainfall in new london and lorain county a sprinkle and further east into avon lake to columbia station and litchfield you got more steady rainfall. temperatures have cooled. mid 60s at two p.m. and now down in the mid-60s thanks to the 59. let me show you the hour by hour as we go through 6 and 8:00 p.m. we begin to see the showers scattering after 7:00 and by 1115, we have just got isolated light rain showers and sprinkles behind the cold front coming in off of the lake and tomorrow, 7:15 a.m. another little trough slides in and that will stir up some more widely scattered rain showers for your commute and temperatures in the 40s. chil

it looks like it's aig nervousne turkey. i wonder why.y. downtown the monsters and rose the puck at 7:00 p.m. it also is a nice easy ride. keep that in mind thought you were to the south of usp overall picture is good drivedr times no problems quick 15 on that's about a dozen others hurt.ilrs some were boxers still have tima this morning. police say the 26 -year-old was stabbed to death his last seen in new york city when he didn'tb return home his father called police they search the home where the party was held and bags of evidence including a luggage rack o in a firefightern vacation there. t i quickly when serious crash she grabbed her phone and started recording my wifey w started in the couple was celebrating when they stumbled on the accidet first responders insight he did when he was trained to do. and then went to the back of my car because they keeper provus and some gloves back there with the car possibly about to combat said to work fast to get the man out.d wife is the one who shot theot suspect the differences to see her husb

i says to him, "i got a aig up at the hill street precinct." he says, "look up this big sergeant. the chick loves to party." your broroer must be messed up in his thinking since he got conked on the noggin. here, hold this yourself. you would be immune in the entire matter involving possible judge fixing and bribery. in return, you would give us testimonial and evidentiary cooperation. you people are still insulting me. i said i knew nothing about bribes. i made deliveries! you don't have to admit anything, jesus. to have you go to judge hardin and pretend that you knew. what about the murder charges? there weren't any murder charges. you were called in for questioning. the autopsy report indicates s torney brown died of a heart attack. tampering? immune there, too. like to refer to your argumentnt against tainted confiscation. uh...no, thank you. i say no deal. now we're all gonna leave now, huh? we're all gonna go and have a nice laugh. nobody's laughing. i want a guarantee that i can practice law. you want us to fix the bar exam? no! i want a guarantee that i ain't screwed up w

the fog is aig iue. good morning. >> goodorniwee a couple of problems to temperature you about. first a live look outsi a the expresay, by the gas tank. northbound side, very slow tri he buc heavier thanee ticly usual. let's show you why there is a four to six vehicles, a crash by columbia roadn donald dorcheste. also watching a water main break on nealon street and washington street, wee a creheading to the scene, and again the expressw30 to 35, braintree into that accident scene by columbia road. 24 slow,or m delays as you travel through middlebor two-car accident, 495 b105 and as you travel the pike, so far not too bad. more ds down to the spot pond, so far, trains and buses are doing ok. >> all right, thank you. weave breaking news, a tornado in elementary school leaves a least three people dead. they were in a mobile home. at least four children at a daycare center have critical injuries this morning. the national weather service says that the tornado touched down in the northeastern part of the state after midnight. the new information here on the eyeopener as it comes in.

. >> stephen: you have aig family, right? choices. >> stephen: how many in your family? >> seven kids. i understand you're -- >> stephen: one of eleven. not a contest, but i'm winning. where do you fall? very important in big filies. >> mid. trouble. yeah, trouble. >> stephen: desperate for attention. >> we were all desperate for attention. >> stephen: i was desperate for seconds. >> oh mix god, right? i never ate f seconds. >> stephen: it's prison eating, this action right here. >> and still to this day if someone goes after my food, i get mad. like my husband, we cut the food in half. i' like, if you want some, there's your third. if he reaches over, he's really violated some pact. >> stephen: did your mom have a rule forow they cut and shared the kooky? we had a very specifics rule. whoever cut the cookie, the right there. we were getting protractors and calipers to make sure the platonic ideal of the cut. >> no, we were more like "lord of the flies," one of the biblical books. >> stephen: is your husband from a big family? >> no, one of two. >> stephen: my wife, too.

aig has not disclosed sale items for our the transaction. that is your bloomberg business flash.ark: in a speech today, euro finance in frankfurt, mario draghi painted the picture of moderate growth in the 19 nation area. mario draghi: the economy is recovering. employment has grown by more troughmillion since it's in 2015. the recovery has become more grown based with less difference in economic performance across countries. mark: he added that monetary policy is the key ingredient in european union's recovery and accommodation will continue in the medium-term. deutsche bank chief executive says it may be the ecb's that are hurting volumes that affect credit risk. during a panel at the same event, and he said it is imperative that they expand credit, especially for the financial sector. : they need to be strong, plenty have shown that growth is successful economically when credit is expanding. we have a set of forces of raising against the banking system at the moment, which militates exit strength and undermines the ability to foster economic growth. mark: deutsche bank chief e

there are about a dozen exceptions that you can look into including academic research and visit aig close relative. the u.s. president-elect donald trump has threatened to reverse the lootsenning of travel restrictions to cuba was relaxed under the current president barack obama. >> a tide could be turning in syria's brutal civil war. regime troops broke through rebel lines over the weekend and pushed into two neighborhoods in eastern aleppo. that is a milestone for government forces who haven't held a significant part of eastern aleppo in more than four years. >> the offensive was backed by air strikes and art tillry. civilians had been fleeing, some taking shelters, others tell cnn they have nowhere left to go. >> and cnn's correspondent is tracking developments in syria from neighboring jordan. she joins us now live with the very latest. what has been the impact so far of syrian regime forces entering aleppo? >> reporter: it would seem regime forces and the ally militias under this heavy air cover have advanced much faster than many had anticipated, of course as you mentioned at least

inside opec, a warning on brexit, and a conversation with peter hancock, the ceo who has been reshaping aigking greater control over our destiny by doing our own work on the risk. juliette: this is bloomberg. ♪ ,l juliette: this is "bloomberg best." from juliette saly. the revisit the week's most interesting interviews. oil prices fell amid increasing doubts that opec can arrange a deal to cut output in a meeting of producers letter this month. francisco blanche of bank of america merrill lynch takes a more confident view. francisco: i think a deal is going to be made. i think there are three parameters they have to watch. ofst is the economic logic them plummeting a deal. it does make economic logic to allow incremental deals to come outside the cartel and push oil in to degradation. the second driver saudi arabia. saudi arabia needs the money. they are in a bit of a tight spot financially, so they want to increase revenues. they need the money now. we've seen them during the largest bond deal in emerging markets. in the sovereign space ever. they are needing more revenues, for sure. the t

alibaba, time warner and este lauder and after the bell we'll hear from facebook, qualcomm and aig.'s talk more about markets and the impact of the election drawing closer. tom, good morning to you. thank you for joining us. it is about time we saw the market react more to the election or is this an outsize worry. >> we've been waiting to see this kind of reaction all along. so far through the campaign cycles, through the primaries, the market has been quite muted in its response. we're seeing a little bit of volatility. you're seeing the vix tick up a little bit. interestingly, though, if you look back to four years ago when obama was last elected, we're actually right about where the vix levels were then. given the candidates involved i would actually expect the vix to be a bit higher than where we are now. >> most betting sites, 538 have a trump chance of 20% to 30% at this point. is that what's getting priced in or do we have more down side to go? and does that necessarily conclude that a trump presidency would be a wild card for the market? >> i think you have to conclude a tru

. >>> aig agreeing to sell its japan life insurance business. terms were not disclosed. fwd group is the arm. >>> a busy one on the data front at 8:30 eastern we'll get retail sales, import prices, empire state manufacturing survey and at 10:00 business vince, two important speeches today at 8:00 eastern, boston fed president will give remarks and then answer questions at an event in portland, maine. at 1:30 eastern we'll hear from stanley fischer. >>> few earnings reports to watch. home depot posting quarterly results. watch for dick's sporting goods and tjx the parent of tj maxx. >>> the street is looking for home depotato post earnings on revenue of $23 billion. beyond those numbers here are the three things to watch. first big ticket item data from the association of home appliance manufacturers suggest appliance sales softened in the quarter, second weather, higher temperatures throughout the quarter stifled home improvement projects especially in august. however prep regulates for hurricane matthew as well as post-storm recovery helped same store sales. and listen

she's raise aig lot of money off of this. she's building huge voter rolls which are beneficial to anybody's who's in politics. i understand why the people gave money to this effort who bank rolling it, they are delighted to -- do anything they can to delegitimize trump's presidency. what i still don't understand is what on earth -- i understand the clintons are begrudgingly going along with this and they're sort of some chatter among their top staffers about not really being fully behind it but why would you go along with this at all? i think it's terrible for her. i think it's terrible for her future in whatever it is that she wants to do. of course you have the voters who in 2000 were told all the problems are caused by paper ballots and now all the electronic ballots or the problem. >> i agree. jill stein needs a lot of attention. she's probably going to be asking for recount until kingdom come, the clinton campaign didn't have to join in. they admitted that they had their own investigation, didn't find anything of concern

things we did was to put information on derivatives and instruments that have traded back and forth, aigbout to get $170 billion in debt and said please help us. the bush administration felt they had to respond and pay you have $170 billion and keep them in business. once again, when they tell me is there a provision that prevents lending, i don't know what that means. i'm afraid they are going to use the legitimate needs of lending which i don't think we've cut back, to cut back on these things that enhances more than real business. >> can i ask you, you're watching from the outside, this entire election. i'm wondering about the democratic party. president obama did an interview with the rolling stones and said that working class families haven't been neglected but that democrat policy proposals are not heard by the folks in these communities. what they hear is obama or hillary is trying to take away their guns or disrespect you. do i agree? >> there's an element of that. part of the problem is being in power. i also think that there's a great irony here. donald trump is getting a lot o

into opec, a warning on brexit, and a conversation with peter hancock, the ceo who has been reshaping aig we are taking greater control over our destiny by doing our own homework on the risk. juliette: this is bloomberg. ♪ . . i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. juliette: this is "bloomberg best." i'm juliette saly. let's revisit the week's most interesting interviews. oil prices fell amid increasing doubts that opec can arrange a deal to cut output in a meeting of producers later this month. francisco blanche of bank of america merrill lynch takes a more confident view. francisco: i think a deal is going to be made. i think there are three parameters they hav

we've got aig block party outside tonight. garth brooks f the amazon music stage. tomorrow night billy crystal, music from geezy featuring french montana. our first guest tonight is the best-selling solo artist of all of them, and he's about to extend that lead with two new albums. first "christmas together" with wife tricia yearwood and "gun sling ir"which comes out a week from friday. please say hello to garth brooks! >> i love this. [ cheers and applause ] oh, yeah! >> jimmy: how you doing? >> what do you mean? this is how i'm doing. >> jimmy: you really enjoy your life, right? >> oh, yes. >> jimmy: i get that sense. >> they let you be fat and happy, it's great? you did something so nice for my sister last night. i mean, it rea >> i love your sister. >> jimmy: it was one of these like off-camera things. and she asked you what song you were going to do and then you asked her what her favorite song was. then you sang the song. >> she wanted to hear "she's every woman." >> jimmy: some of the lyrics are specifically about her, i don't know if you realized that when

the rest of the month through wednesday, that's the last day of november, features aig warm-up. tomorrow it's 64, and our rain will be long gone by sunrise tomorrow. you can get outside and enjoy the weather, but it's a blustery day. enjoy tomorrow, though, because more rain is back in the forecast by wednesday. it will be a wet and breezy day. by december 1st on thursday just in time for meteorological winter to begin, it's going to get cold. mid-40s thursday and friday with snow. should be mainly dry for the upcoming weekend, laura, but it will be on the chilly side. >> laura: bundle up for that. head out on the roads this morning, driving fine. no big issues. i had my seat warmers on this morning, felt a little chilly. maybe you will, too, headed to work this morning. it's a smooth drive, 60 miles per hour north of 480 and driving well into downtown. a construction alert is coming up for this week, so starting this morning at 9:00 a.m. and today through wednesday, they're g lane. it's blocked there just during kind of off times, so they get this done after rush hour begins an

ella. >> is this stick aig round allta day, tucker barnes? tuckebarn >> on and off all day. day it won't be pouring all day butb it is raining and cloudy andloud very warm all day. day i could hear it on the rooftop r here a moment ago in northwestot d.c. you can see the rain picking upc in intensity here particularly getting pretty good rains.ns certainly potential here in here addition to rain and downpours u we could have thunderstormndersm activity a little later thiss afternoon as this cold front fro continues to press into our io r area. big change in air mass but aheab of it, big surge of very warmy almost tropical air near 70ear 0 today it will feel spring like n out there and look out.d look o. we can have thunderstorms andor we'll keep rain in the forecastf through the evening commute.. so it will be a soggy day today. daytime highs about 70. 70. there's a look at your sevenyous day. more weather momentarily.rily more traffic, erin, roadways, we >> wet. wet. sad. slow. this is a live look from dave'ss go pro camera on 60.0. out by 28 it looks like roads ii terms of

you had an aig trading in derivatives which told the bush administration in september of 2008 that they were $170 billion short of paying their obligations. and the bush administration said we better pay the debts because there will be a problem. i want to look at specifics, in terms of hurting lending, tell me what it is in the bill that does it, maybe there is something that does. but don't tell me that you're going to go back to derivatives without having the money behind it. >> having participated in the conversation, there were two separate conversations, first was dodd/frank and we're going to look at it and remove the parts that are -- we think inhibit lending and then there was a follow-up question, okay, now on to the volcker rule. so something different. larry, you wanted to -- >> i want to ask you, i don't think they want to lower loan standards. i think you make an important point there as you always have. i think one of the things i'm hearing, and i'm not the guy in the transition, i didn't work on the dodd/frank stuff. they're saying that the volcker rule is too complicate

. >>> and stocks to watch, aig is moving into residential loans. the financial times reports that they plan to make direct investments in mortgages to give more financial backing to the $2 trillion market as banks pull back since the financial crisis. the shares are flat there. and blackstone is in talks with anbang. this would be japan's biggest deal this year. >>> and bp unit wins $559 pentagon contract. >>> coming up, it's the most wonderful time of the year for the nation's retailers heading into the holiday season. which stocks are best to buy? stay tuned, you're watching "worldwide exchange" on cnbc. >>> good morning. welcome back to "worldwide exchange." we are fractionally up after slight gains and slight losses in europe. here in the states last week, we saw gains once again and a continuation of the post-election rally. we saw the s&p up 2%. the nasdaq up 1.5. and the dow was up a quarter of a percent. we are slightly higher this morning for the dow about 17 points. we saw wti gain about 5% last week. this comes on the hope that at the en

guest: they regretted that and for aig and others and you are correct, i mean, he should have worried more about the private banks that were engaged in the mortgage industrial complex, but i do think that he tried on subprime mortgage regulations and the gse side and tim gardner tried on bank leverage a bit. the message from this is that regulation is politically very hard tove do, so you have to be willing to consider interest rates other way to push back against a bubbles. host: well, i would take the conclusion you have to be willing to do regulations better that was what no one really anticipated was what would happen if the layman went down. to a different subject for a minute. we will come back. the bush tax cut of 2001, i was personally really mad at alan.rious dist that was a curious incident. can you talk about it? guest: it was curious because in some ways alan greenspan's emergence into data, sort of his political acceptance in washington, was crystallized in 1993, when he endorsed the taxet clinton budget package which raised taxes to reduce the deficit. host: and you know

now havbeen aig fan of curel productfor dry skin for a long e, my favorite on yet. it's calle cuehydrtherapywet in moisturizer it's a little bit unusual, so let me explain how this stuff works. so you're in your shower and you're done and you turn off the water and you grab for your towel, but instead, grab your curel hydrotherapy, because this is actually supposed to be it iswater activated and the moisturizer penetrate deeper into your skin. it also has an advanced complex that is going to help repair your skin's moisture barrier so none of that water creeps back out again. this is so healing that it actually received the national eczema association seal of acceptance. i personally love this product because i'm very, very lazy when it comes to applying body lotion. you're wet, you're in the shower just slap it on everywhere towel off and you're ready to get dressed. >> i like that. one thing i have read before from dermatologists is most of us wait too long after we shower or take a bath to put on the moisturizer. i like what you said you still put it on while you

but regretted that for aig they were, so you're right and he should have wrote more about the private banks that were engaged in mortgage industrial complex. but i do think that, you know, he tried on the prime mortgage regulation and on gse and new york fed tried on bank leverage a bit. the message to me from all of this is that regulation is politically very hard to do. so you have to be willing to consider interest rates as a way to push back against bubbles. >> i would take the conclusion you have to be willing to do regulation better. [laughter] and more view to systemic risk what happens if a big institution or very interconnected institution goes down. that was what no one really anticipated that what would happen if a layman would have -- went down. come to a different subject for just a minute, though -- come back the bush tax cut of 2001. i was personally really mad with the that, but he knows that. and i was curious distinct can you talk about it a bit. >> it was because in some ways you know alan green emerges into that status and political acceptance in washington with cr

that is tackle aig very high level of corporate tax rate.nging that tax rate down will provide an incredible platform for businesses to stay in the usa but come back to the u.s. as well and that should be the number one focus. >> real quick. we're talking about the markets. they're up smartly since his election and particularly election night when it looked like he was going to win and the markets were panicking. they came roaring back. they see improved economic activity. do you? >> absolutely. again, if we see the types of programs that he's talking about, rolling back regulation, adjusting or repealing entirely the affordable care act, when he talks about lowering and simplifying the tax code, these really are the metrics that we've needed in place for the past near decade that could potentially spur growth back to a three, four, five percent gdp level. we have to waist and see what types of policies are put in place and see how that's going to impact growth in the country. there certainly is some upside potential. >> always great talking