aig, disappointment.y warned that they see a third quarter pretax catastrophic loss related to the typhoons in japan's. let's look at aig year to. typhoons in japan, mudslides and hurricane -- in california, hurricane michael. they are already seeing half a billion of a loss. as take a look at pay paul. they exceeded analyst earning estimates. they are working on monetizing venmo. they see a 45% increase in mobile apps. take a look again at american express. it is proving fruitful for both. shery: coming to the u.s., then venmo was a great thing. joining us now is a chief market strategist, all of her porsche. we are seeing earnings coming out for the past five years. they beat expectations. when you are taking a look at this quarter and this environment, when you are seeing more bonds and stocks moved together, how much more crucial have results become? >> we are comfortable saying that earnings will grow 20% year-over-year in the third quarter. what isoncerned about going to happen from here. earnings h

caoc,sion a collegearty to leceebrat homemicong weekend after the clemson university tigers scored aig b win,ut b just afterni midghthe cers abruptly turned to screams at an apartment complex in south icarolina, drama cell pneho vi sdeoho pwseeopl danngci at eth off-campusarty when the floor gives way sending them into a free fall leving peo piled on top of eachth o.er indozens were red, andon tight suivsor are sharing their haowrring sestoriro fmhose terrifying moments. tammy leitr starts us off from south carolina. >> rorter: celebration turni at chaos in just secon this mehocongmi ptyar. when theor suddenly collapses. >> the floor broke. > reporter: sdienngen dozsf o people pluetmming salevert fee down into the basement. >> the wle piece, i saw that fall on a girl? ricardo arroyo shot this horrific video, bodies piled on of each other, seom spater toyrying tli cmb out, rsothe too stunnedr o iednjur to move. a a lot of students in pain, lot of bloodshed. i saw a lot of open wounds, not something we anticipate seeing at a meter. >> reporter: the floor geav way raftean dcing rerevelseg

it's not possible to talk about the problems however if they are exploited if aig news is being disseminated if rape reports are being made up if stories are invented to incite others. through what however to me seems worse than the pure fixation on the refugee issue is that they're turning problems into religious issues. the islamophobia and asked party. let's stay on the topic of immigration and refugees because the criticism is not only from the f.t. but also from the christian social union in the area which demands a strict immigration limit is that type of criticism permissible. yes but there are large parts of that debate i've never understood it. speak about an upper limit of two hundred thousand but we haven't reached that yet and with real asylum seekers who genuinely need asylum because they're from a war zone the german constitution will never allow an upper limit to go so i've always found this discussion about a fictional upper limit puzzling. and that's the senate's move on to another discussion another key issue concerning the catholic church the child abuse scandal we have he

as a result, no financial institution exposed to aig, in my view, would have failed if aig had been permitted to fail. for instance, goldman sachs would have experienced an estimated lack of aig. many did not feel connected to this contagion. the primary rationale was the feeling that a bank or mortgage company or broker dealer could lead to the failure of the counterparty. clearing of over-the-counter derivatives was also motivated by the scenario. the idea was to mutualize this risk. and bilateral credit limits are also premised on the chain reaction, obviously, of counterparty. but it is risk 101 to not put all your credit exposure in one basket. so financial institutions for many years have placed their own limits on counterpart exposure, and these generally held up pretty well during the crisis. and thinking about our ability to deal with contagion, keep in mind that panics can be set off with causes that have little or nothing to do with financial institutions. in june 2006, we briefly flirted with possible panic when the unexpected vote in favor of brexit was announced. and just yester

. ♪ caroline: a pre-from aig letting us know pretax catastrophe losses will be large. 1.5 to $1.7 billionlking about monsoons and overall statement to the press. japan's own data came in week because of young growing concerns -- weak because of the on growing concerns of catastrophes. have cut their earnings estimates because of these one-off events, but we are seeing aig fall after hours. let's get back to another earnings story. the glow from netflix earnings only lasted a day. for more, let's bring in paul sweeney. paul, you were with us when netflix broke. the subscriber growth was .antastic yet, after a couple of days, the bounce fell away. don't think it is a netflix specific issue, they delivered everything they needed and more. they gave strong subscriber growth and the forecast for the fourth quarter was good. showsot a lot of big launched in the fourth quarter to support the subscriber growth. this is a function of the marketplace with the nasdaq off over 2% today. when you think about the headwinds for some of these high beta stocks, higher interest rates do not help your when

aig shares are down. the company saying they expect catastrophe losses to be a catastrophe.e losses because of several weather events, ie typhoons and a hurricane in japan and hurricane florence here in the united states. bank ozk falling in a big way, formerly the bank of the ozarks. the abank missing on the top an bottom lines wow. bank of the ozarks, not good down nearly 20%. >>> up next, mega mania. lottery fever is gripping the nation the mega millions lottery is nearing $1 billion frank holland is live at a 7-eleven in new jersey >> hopefully not long odds of me winning. we're at a convenience store where later on we expect people to be playing the mega millions. we'll have some fun. we'll show you what your odds are of winning and break down how rich you would really be if you did. >>> now to the story that will have everybody in the office talking today. the mega millions drawing is tonight. nearly $1 billion, maybe more b the time the drawing takes place. lotto fever is sweeping the nation and sweeping a 7-eleven nearby because frank holland is there the lines are n

sin forec 30 to knows aig range but he t suburbs temperatures are down aun freezing and teatur an lowheresuhonshinenty o's. nowi.nd tay. temperatures will be 55 to 60 degr o so. and if yourees lookt our planfon see we're in the lownehe and then wge into the u und e it's all saippd and again, u 50's. odday, t and loadsper, you're te mo on t o sev forecas comi and it lookens like it'soing to angoodne. lbe g to thea ere i only monday and i'm already talking about the weekend. 48htt now wre your head's agary unatel.y w avear tkbout tfi springfield, virginialibe.t'sinl la havne detour. can seethe fl lights in the ilthheor.s on tid rtth ane's b avgh lle gettingcktt camera inse er hing l looke.s ic iockes.igheing that because thats a newupdate n adjustme int. previously the right lane was iues.ithout any updates to come onss that. metro service pic up at no reporteksdays yet. got covered. >> ♪'syo your traffic. 4:49 is the t right talrim tay, the foman accused ofng two highchoo students k in montgomery couy. ofar garcnt ishe second four suscts to g ope trial in tohis case.n the two northwest hig

has aig reason to celebrate it's sports teams. >> d.c. united isde hea to the playoffs. last night's team qualified for the post season after ponng new york city fc 3-1. another big performance by wayne rooney that ended the nig with two goals. it's an ibincred ride for the entire team. you might remember they were in la place backn august. things are looking a bit brighter. >> itee good. we kind of have to recalibrate and look forward to the post season and it's just nice that our goals now have changed from being in the playoffs to potentiall holding the trophy. >> i'm not saying it's all about waynerooney but it helps to have a big super star on your team. the chicago fire kick off at 4:30. >> check out the crowd. >> love it. h we doe rain chances for this upcoming weekend. none out there today. that's why we ge it a very good day. mainly because it's chilly out there this morning. freeze warnings a frost freeze warnings a frost david trone likes to say it comes down to three things: compassion. for childrenlaced in cages, and people with addiction treated as criminal

aig floyd is the national law enforcement ceo of the national law enforcement officers memorial fund. also joining us is tim brown, the museum's director of education and programs. i believe i got all of that right. welcome all of you to our program. excitinreally it's been in the works for close to 20ears? >> 20 years. it is exciting, and it's been a long journey, and i think craig will tell new a couple minutes that planning for this actually arted in 1998, and there's a long story in those years. >> bt'sn a long haul. >> it's been a long haul. t' built the memorial in 1991. so been there 27 years now. but in 1998, we decided to take it to another level. let's tell the entire story of american law enforcement. let's do it in a national law enforcement museum. we never told the story of law enforcement through a museuri congress autd it in the year 2000. we've been working in a very ever since.ay and thankfully in about a week that will open. >> tell us about the size and th >> about 58,000 squareeet of space. 10,000 square feet above ground, most of the experience is underground. an

i know that is aig route in for a lot of folks trying

it's aig deal in college football. just a few months ago d.c. united was theorst team in the league. so they are now in the thplayof. kicks off this thursday night at 8:00. >> world renowned. a lot of experience. >> it's hard to believe we're already talking about winter weather but snow crews in our areare getting ready. >> they have to do it. this is a chance to make sure that the equipme is in good working order. they also identified any hazards that need to be fixed before the snow and the ice gethere. >> thursday is the first of november. halloween is coming up on wednesday. >> oh,yes. >> sort of like yesterday for the race. down at mile marker 19. a lot ofni people r by me like it's a race. keep moving. >> people are jus drawn to you. >> well, and i have dumb and dumber with me. >> a nice day yesterday. today will be the transition and the beginning of a warm u arrives tomorrow. northwest winds will make you feel chilly to be outside this afternooncout wd get sunshine back as well. radar shows most of the rain is in pennsylvania, new york,

we were saying, wearing blue is like sticking it to them, you're aig skins fan. >> i don't have many options but this isoing to be the one shirt wear. we're going to be talking about thisnd rubbi it >> all right. we're true skins fans. >> maybe something we'reab blue t today is the weather. it's chilly out there. but myod ss, saturday into sunday after that frontal system passed through it was pretty breezy. now we're more seasonal for your tuesaty. temperes into the mid to upper 6s. 41 degrees is our temperature out there. we have car skies and we'll drop by 7:00 and then by 11, st before noon,he temperatures will be back into the low 50s. current temperature out there right no 40s inside the beltway. that's just for the western portion of our viewingrea and we have frost advisories. you guys are cold but youad al reached and achieved the overnight low temperatures so again, soon to be over for much of us. low to mid 30s is what you're waking up to this morning. we're warming into the mid to uppe 50s today. an you can seee got nothing. if you're traveling on this monday morning, esp

how are the banks and the aig doing like dyke's your bank and these other banks i can't imagine that. saying they're doing very well let's look imagine the amazon before being a trillion dollar company apple is now a telling dollar company as well that u.s. dollars not zimbabwe dollars and that remember back in the dotcom boom we had cisco was going to be the first trillion dollar company before it flamed out of famously ninety percent crash where is this going it is amazon and these companies going to two trillion or is there going to be a flame out well you touched upon something that's interesting no i think it'll definitely be a flameout i think amazon netflix are two of the biggest flames that don't make money that will flame out and test must go to jail but what's happening is a lot of these companies are issuing tons of debt either corporate debt or the raising finance in other methods and what they're using it for is financialization they're not using it to create products so what they're doing with the stock buybacks is they're cannibalizing future earnings and paying off the

flying the flag for france in the white and red of lights aig a quartet of exceptional talents in the fast lane to the top of the league's ultimate french connection. oh. twenty eighteen where your old defender. cannot play. there are been some tough times but i always persevered for you for sure every footballer dreams about the world cup winning it was just incredible history and. you know. it's fulcrum at the back the man with the overview at the heart of the defense. his uncanny speed of thought and action keep him ahead of the opposition and ever the willing worker world cup glory notwithstanding. other people's perceptions might have changed and i have been on. the small town of zimbabwe near the belgian border. grew up here and got a fitting welcome on his return as freshly minted world champion is not the sort to neglect his roots. straightforward well mannered respectful he doesn't forget where he comes from and he's very close to his parents . he was a very important coach for me. still in touch he's given me a lot of advice. but it all really started with my father mean how

they have downgraded aig. aig could be the next to warn. matt: it has been a horrible month. at $84 a barrel for brent, cannot help at all. the-marie, let me get to norsk hydro story. >> very bullish calls for the open. -- saying the stock will rise 10%. refinery in brazil is ready to be opened. they earlier said it was not. now that this is open and we have aluminum prices dropping, norsk hydro is set to open much higher. take a look at the other minors linked to the price of aluminum this morning when the stock -- when the market opens. matt: thanks very much for joining us. great to get a run through of the stocks to watch before the market opens in five minutes. there is a lot people want to pay attention to, especially after such a massive drop we saw in chinese stocks. last i looked, they were down 4.2% on the csi 300. they were off last week, but also a big drop in light of the tv as the loosening. the market opens -- the pboc loosening. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing w

supposed to have been his second journey into space and his american colleague forty three year old nick aig is a colonel in the u.s. air force and in his case it was have is to have been his maiden flight following in their ordeal a dramatic rescue and medical tests friends and family expressed relief as the two men were welcomed back to baikonur. well when you've got more than half a million pounds of burning a rocket fuel behind you and a booster that has gone faulty you need to get away and fast well for thursday's so his crew that meant relying on an escape system first deployed in the one nine hundred sixty s. . each and every soyuz spacecraft is equipped with an emergency escape system that is designed to enable the creature safe escape in case of an emergency on board during blast off in the ascension phase the system has an evacuation capture and powerful engines attached to it the engines are active fifteen minutes before launch if the flight gets out of control they propel the capsule away from the main body of the rocket that enables the crew to reach a safe distance in about fou

. >>> b not the same issue over at aig which after the bell said it expects the third quarter catastrophic losses. due to the typhoon in jpen in hurricane and mudslide. as a result the shares plunged in extended hoursto addin 2% loss during the regular session where any finished at 48.61. f thehis mere was one wettest on record in the northeast. and in central texas heavy rain is causing major flooding. extreme rain event are becoming more common and posing a new challenge t both cities, large and small. in our continuing serhes on rising risks of extreme weather to real estate, diana olick looks now at high-tech solutions aimed at solving the problem. >> reporter: a recent day of heavy rain in albany new york caused this localized flooding. not a national headline but it hould be because of what increasingly frequent and heavier rainfls are doing to the bottom line of local economies across the nation. hitting both infrastructures and budgets. joseph coffey is albany's waterr commissi >> the extreme rainfall events are causing flooding, basements backups and combined sewer overflows to th

but we are -- and we own them but we are not making aig bet on financial because we just think owning banks into a fed increase cycle is generally a shorter term sotrade. hat 5-year hold we don't see in financials. >> let's look at what you would be buying at these levels. to holdnstance you wan them between three and five years. are there stocks that you think look aractive? >> well, the financial stocks that we own right now are the larger stocks, the bank of america, and jp morgan and in the regional spates we own key. any will all beef biaries of higher rates. you know, rates move up, that's great for bank earnings. and because we believe the economy will stay strong as the ic reports of the last couple of days have said, credit quity should be good. so bank earnings should be good. we're just not looking for the rg seculare in financial stocks at this point in the cycle. >> all right. let me push back a little bit on that thinking. causehe banks did have something of a lost decade they haven't enjoy the rise in rates to this point. >> correct. >> i mean,anking 101 says when rates

fitbit and aig go together, seema mody, but i have no idea how. >> let's start with shares of fitbiter. five-sent beat on its bottom line and posted a rise in third quarter revenue, $390 million versus the estimate of $381. it exceeded by growing its health care business by 26% and diversifying its product and they sold 3.5 wearable divisions and average selling price incleeses year over year to $108 per quarter, and you're looking at shares up 11% now, let's switch to the insurance giant aig posting a surprising loss of 34 cents per share versus the estimate of six cents. way down -- weighed down by catastrophe losses related to the foods in japan and hurricane warnings and mud slides in california so certainly a tough quarter for aig. the stock is still down fractionally here in after hours trade. back to you guys. >> seema, thank you. just looking at a nice pop for fitbit, burks boy, is that an ugly chart going back to its ipo. >> it's been tough still very heavily shorted stock, a little more than a billion dollar market cap and the holiday quarter is still make or break for the

. >> l'setw sho you a live look t.at t kneenendy cte rnitogh aezree warning for aig b cnkhu ofur o rnegio in minutes. storm team 4 with what you need to know. >>> and exhilaration turning to panic in an instant. dozens ofan studentscing the night away ceearno intthe bantseme aerft f thelo cor.aves >>ws "ne4 1atta srts now. to>> vic mondays ioi gng to taste trexwea setor f the snski rafte a la-sstdeconin w o ver threi mostat hed rival, the wb cooys. goodening, ybeverody. i'm erika gonzalez. so we have leiv tmeaov cereag fo yr on the bigin wr ovethe oys. 'r geoingck chen i whit reshere burruss. daype s hnceras fan reaction. eam t's lkbo aowut h t the d .it ist' nerevy eas f torhe dsre,kins i sit,er ika? h especially withe cboow iysn .town thesk redin as big opportunity this afternoon. fit vidi gsionam oefhe tea yr and chance t w iin twon a row and take a gamend a half lead .n the nfc ea redskin fans, ready for this one and also ready to end their -gfouramloe ssingtrkea t tohe wbcooys. ter.ur arqu dsnskip by field .goal thebo cowys with a third and 14, yitr tng kopeehe drive alive. dak presc

that's a lookt the b aig gorgeous along the coast of california, temperatures in the 70s and 80s. yeah, so feeling like winter as we head towards the west and we'll talk more about michael this week. >> thanks so much, michelle. >> sure. >>> speedsters hit the skies for the red bull air race world championships. american michael gullan powered his way to win at indianapolis motor speedway to grab the top spot. he piloted around the course in one minute and six seconds to earn his second win of the season. the series now heads to texas for the final race of the season on november 18th. >> what a rush. >>> just ahead,utation on the l by wading into the political debate. >>> and to protect and to serve. an officer busts out his moves and is taking the internet by storm. no matter how much you clean, does your house still smell stuffy? that's because your home is filled with soft surfaces that trap odors and release them back into the room. so, try febreze fabric refresher. febreze finds odors trapped in fabrics and cleans them away as it dries.up to keep your whole house smelling fre

the insurer aig paid for the stolen jewellery, but claims pascal duvier we re jewellery, but claims pascalhat still causes tensions between britain and argentina — who should have sovereignty over the falkland islands, or las malvinas? the two countries went to war in the early ‘80s, and now veterans from both sides have come together to mark the conflict in a unique way. the bbc‘s tim allman reports. 36 yea rs years ago these men were trying to kill each other. now, together, they are making art. rikishi and argentinian veterans of the falklands war are peering in a play thatis falklands war are peering in a play that is now a film. i came across a photograph of his family. that is now a film. i came across a photograph of his familym that is now a film. i came across a photograph of his family. it is about memory and loss. stories told from different perspectives. translation: what is groundbreaking about this is proposing a work between people who think differently about an important issue. the conflict remains, but nevertheless we can do something together. it doesn't matter if you are

. >>> president trump hit the aig overnight rallying support for texas senator ted cruz who's locked in an unexpectedly tight race. the president says the two have come a long way since he fa t 2esenal race. but last night he praised cruz for backing his agenda. >> and it got nasty, and then it ended, and i'll tell you what, nobody has helped me more with your tax cuts, with your regulation, with all of the things that we're doing including military and our vets than senator ted cruz. nobody. >> you have said that he is utterly amoral, that he's a serial philanderer, a pathological liar. are those things not true anymore? >> look, i have no interest in revisiting the comments of 2016. >> you've moved on. >> i've got a job to do, and my job is forward looking. >> that's abc's paula faris catching up with cruz before the rally. meanwhile, with the midterm elections two weeks from today, president trump now says he's planning to offer a new 10% tax cut for the middle class. he's not providing many details yet, and he acknowledges any vote in congress would have to come after the electio

the man of aig the man they call the tropical trump comfortably fended off a moderate left wing challenger thousands turned out to celebrate in rio de janeiro but brazil also saw protests after the polarizing connection. and don't forget you can always get to the news on the go just download the app for google play all from the apple store that will give you access to all the latest news from around the world as well as push notifications for any breaking news and you can also use the g w app to send us photos and videos. this is due to the news live from berlin wall coming up at the top of the hour. after. your very own chip. compositors all the latest thing installed. microchips first signs of a grain of rice making life easier for many sweets. but while users are thrilled and british advocates are sounding the along. d.w. try. finding an invisible enemy landmines in bosnia. to mine clearance risk their lives removing mines left over from the yugoslav more. than one is on choice. and extremely dangerous. to mine clearance supposedly on. sixty minutes on g.w. . scars cover don't forget wo

the insurer aig paid for the stolen jewellery, but claims pascal duvier and his company protect securitytecting the private apartment. dozens of charities across the world have launched appeals for emergency funds to help survivors of last friday's earthquake and tsunami on the indonesian island of sulawesi. at least 1500 people are thought to be dead, missing or injured, and that number is expected to rise. the bbc‘s mariko oi is in palu and has more. today marks one week from that deadly earthquake and tsunami which killed, as you mentioned, at least moo people. but here in the city of palu, we actually got electricity back up last night after president widodo said it could take weeks to get it restored. and in terms of food and water, we have been talking about how survivors were struggling to get hold of them all week. people are starting to selling it on the street as well. 0f of course, it is also the final push to find survivors trapped underneath the rubble. you can probably see that big crane behind me. we have been broadcasting here all week and they got that in yesterday to st

have not made any decisions on how to use our brand portfolio but what a great problem to have area >> aigorted a surprise loss on natural disasters. analysts were expecting a small profit. lester's wildfires in california wait on the results. slumped the most in 18 years. they reported a decline. salesives insist cereal will turn around. iny recalled honey smacks june. president trump says he is ready to deploy up to 15,000 troops to the southern u.s. border as a group of migrants head north. proposal criticize his to end birthright citizenship. he tweeted paul ryan should be focused on holding the majority rather than giving his opinions on birthright citizenship nothing -- something he knows nothing about. we know the caravan is not arriving for a few weeks. how much of this is just strategy before the election? >> there is no doubt that president trump sees immigration as an issue that resonates with his supporters. his supporters sent him to the white house on his pledges of immigration policy. here we have him bowing to put military on the border. originally saying there would be 500

. >>> brace yourself for aig traffic change on the memorial bridge.alf the lanes will be closed on monday for years. >> adam tuss broke this news today and he is there with more. >> reporter: breaking news this afternoon. here's what's going to happen starting monday morning. it will go from six lanes down to three alleges. plus, you will use the sidewalk and all of that will stay in place until 21 we have detailed the work needed on the bridge. the national park service saying if something wasn't done about the deteriorating bridge, that it might have to be shut down. that's why you will see major construction start to ramp up hereem on theial bridge. and again, all of that will be in place by 4:00 a.m. monda morning. get ready for years of construction. >>ou warnedus. we're not ready. >> what are you doing for a day or two?ur >>ng to something even more serious. strong storms on the rada >> that rain coming down heavily. toward i-95. a lot ofel rain, mic to the south and the cold front from the north and west. this will for a much cooler day tomorro

all in all, this is aig fro that has come down. it will shift to the east.hat means kids at the bus stop, you have temperatures in the 70s. more clouds tomorrow, too. some sun during the afternoon. fog and maybe some areas of drizzle o saturday. thing , not a very nice to have. as i talked about, a lot mor on sunday, why would weet cooler weather. a tropical system. it could move our way. >> all right. hook forward to it. if you ever put money away because you were saving for something this story might make you get rid of your >> there you go. a couple in utah who had been saving money identify off a debt they incurred for buying season they had ickets and just saved up enough money to do it. but the money it was in disappeared. they found it and they soon realized, their toddler son was having some fun with the shredder and he shredded more than$1,000. >> started laughing. we were just baffled this could happen. >> i cried for a minute. >> a few tears and then a bun laughs. >> oh, my. learning new things. >> so what happened next they were told they could g

differential treatment if you compare what happened to lehman brothers versus washington mutual and aigand fannie and freddie across-the-board some of them made out pretty well and fannie on the other hand took a big hit taking the future profits of the institution for six or eight years so that was one of the issues of uncertainty everybody was treated differently and there was no rhyme or reason for how it was being implemented. >> america has long had one of the developed banking systems in the world which may contribute to the periodic banking crisis and bailouts. can you speculate on any paths you might see a >> i would like to see politicians just start shrinking the system. an incremental process that worked pretty well we benefited even when the government was making mistakes restricting the money supply you still have the banks that were free to fail. >> in the next crisis to regulators have a lot of discretion and it's important who's in the positions. now working for vice president mike pence if they end up in these decisions it's a crapshoot in terms of who is going to be in

aig,s shift gears -- cr let's shift gears.n the analysis of of the eurozone, he joins us on the phone. they went in hard with italy. they said they wanted a budget deficit well above where the eu would want to allow. >> they are sticking to their original plan of having a deficit of 2.4% next year. they are saying their budget and economic plans are so good that tilray will grow so much in the economy will perform so well that the deficit by itself will decrease as a percentage of the italian economy in 2020 and 2021. ofy are making a promise now something that will happen a year and a half or two years from now. to me, this is mostly a signal they want to look at the financial markets, and this is not written in stone. i think you hit the nail on the head. when they talk about deficit promises two years out, there is only so much they can reassure. to the degree they want to play ball into the agree they are not being antagonistic with europe, is that something that will reassure investors that the government is not trying to

. >> when i get in there, there is aig colombia red tail boa on the cabinet. >> the officer who came to the rescue. right now at .5: >>> we are beginning with a weather alert.m- stam 4 tracking some major remnants from hurricane michael coming our way. >> there's a lot coming o w in the next couple of hours. meanwhile, parts of our region under a flash flood watch. >> the hte is the heavy rain moving in. you see these little fans here of stronger areas of rainfall. one to two inches per hour. you can see it going on to the south as well. very heavyra fall. let's zoom in. right toward the d.c. area. let me move out and show you as we move out and show you where the willontinue to bes we move through the rest of the evening. right along 56, 50, coming out of d.c., in to the east and the west. some very heavy rainfall. more heavy rain andhunder toward the wood bridge areand quantico. a flash flood warni in effect until midnight for fredericksburg, just to the west, around spotsylvania, orange county, and 1 be surprised to see more. this is all from michael and cold front. they are conve

. >>> aig surprise from the white house today. u.n. ambassador nikki haley said she is resigning from her post at the end of the year. many people in both parties are asking why and what's next? president trump made the announcement in the oval office this morning. she praised the president's foreign policy and the contributions of the president's son-in-law, jared kushner. some have speculated that she s speculations for higher office but she said she is definitely not running for president in 2020. >>> the supreme court justice brett kavanaugh dove rightnto s new job today. he asked a handful of questions today. the court is hearing debate over increased pncson sen for repeatnd ofs. he was wished a long and happy career. the way, he is seated next to justice elena kagan. >>> a day afterhe ceremonial swearing in, it appears voter registration of young people is on the rise and it may be thanks to pop star taylor swift. we told with you her political message on instagram yesterday. she warned others they need to register others if they

. >>> and aig tumbling the company expects its catastrophe losses to be higher than expected.osses are from several weather related events, including typhoons in japan and hurricane florence here. aig down about 4%. dow looking to open higher, about 77 points higher s&p 500 up about 8 points. nasdaq futures opening up about 40 points higher. >>> concerns about italy's budget back in focus for the global markets willem marx has an update from brussels good morning >>> good morning so, the start of this week the italians sent a budget plan to the authorities in brussels. pretty quickly it became clear that the european commission wasn't happy about it. they set these rules in place since the eurozone crisis and they were thinking the italians might be willing to break some of those rules yesterday the commissioner for the final affairs in brussels traveled to roam ame and said te italians you are spending too much money and using growth assumptions that have not been independently verified and we have real concerns about this tell us what you will do to change things. tell us ho

i did look at goldman sachs assuming aig hasn't been bailed out. as i said, i didn't see any big hit there. it would have been hit but they could have survived. >> okay. we have one other -- time for one other question. >> i appreciate your distinction between lender and lender of last resort to sullivan institutions in liquidity challenges and insole vent institutions needing to go to the fiscal authorities. what do you think of the -- there have been some proposals of transforming the fed's open market operations into what has been called a flexible open market operating system that would operate more like the taft did during the crisis. it's open to any -- pretty much any participant. they can put up whatever through an auction process would be able to get the funds they need and opening it up to more parties than just the primary dahl -- -- dealers would enable it to be a system for liquidity in good times and bad times without the fed making any change to the policies. and basically not even needing a 133 authority that facility could be avail

i know that is aig route in for a lot of folks trying to head over across shady grove road. e lane deadlocked with roads northbound and southbound. you can see the roads on the map here. taki a look elsewhere, inner loop and outer loop at the ve beltway,thing is nice and green. don't have anything to complain about. 66, 95 no issues. aaron? >> all right, melissa 567. 5:01. hurricane michael is aeg cy 4 storm. people along florida's panhandle cie b for what could be an historic hurricane. >> the hurricane is bringing pounng rain, destructive winds and a potentially life threat >> it won't be until later today when we see how violentor the st can be. passengers aboard a cruise ship have experienced it firsthand. ho a passenger t aboardhe royal caribbean ship s this video mondaynight. it delayed its arrival as the hurricane was pounding down on cuba. michael is expected to make landfall in the u.s. this tternoon. >> ns is what people in cuba ares seeing a that hurricane makes its way to the s. michael brought winds up to 90 miles an hour as it skirted the island yesterday. tree

i suspect it would have been used for lehman or aig. most certainly for aig. instead the fed intervened. i worry about misuse of title 2. it's a topic for another discussion, but even with my concerns about the misuse, i'm still glad it's there. and as the other speakers have said, we still have the gses. there's more private capital at the gs erkes, especially with t risk transfers that have taken place. but there's still a lot of taxpayer risk. i'm going to stop there. >> that's just about time. >> great. >> comment from the panel? and you may go. >> great comments. >> phil, go ahead. >> that was a very rosy picture of government policy from march to september 2008. and i don't love it. let me talk about a much less rosy picture. was it obvious as of april/may/june of 2008 that there were serious problems that required the large financial institutions to be required to raise more capital? and was the market open for those institutions? the answer is yes to both questions. how do we know that? lots of ways. i showed some graphs of market values and equity tha

last year, aeg, or aig shed the tag.ks at volatility in the market, the stability in the financial market. since october 8th has been a wild ride. drop in the graph. led rebound by the strong earnings as well as that report, there are more than 7 million open jobs in the united states this time, this time in history. the most from over the summer. now the bottom line for the council though, they're looking at that underlying stability as the markets are going up and down, and councils so far according to secretary mnuchin saying it looks good and stable. charles? charles: edward, should let audience know prue deposition financial down 15% to date. they need big news out of this. >> thank you, charles. charles: president trump made headlines calling the federal reserve crazy, loco. trish regan talked about the criticism. here is sneak-peek at her interview tonight. >> my biggest threat is the fed, because it is raising rates too fast. it is independent. i doesn't speak to him. i'm not happy with what it is doing, because

manual life and aig suffered from the same woes i don't think they understood the obvious consequences of writing these nefarious policies that's why the $21.2 billion charge for the as terrisk was impossible to fathom then there is the energy business ge bought for $13.5 billion. it's nearly impossible to lay anyone off it was a significant step, end quote, expect it was a transformation towards an industry vanishing before hi eyes flannery was involved in the transaction, too it was hard for him to admit that the deal needed to be written down by the time it closed i have seen these write downs but only as a result of fault, not bad business judgment. yet it was ridiculously bad business judgment. instead of building up aerospace or health care they doubled down on an industry in secular decline. no shock he did the same with oil and gas. doubling down when the price of crude ran to $100 a barrel when flannery didn't immediately take the big charge the one now necessary and he surprised the board after he said there would be no more surprises he couldn't keep his job it wasn't the sp

the head of aig's retirement division is here to talk about rising anxiety levels and the changes youer 26, 2018, "squawk box" begins right now. ♪ >>> live from new york where business never sleeps, this is "squawk box. >>> good morning, everybody. welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen, andrew is out today. we have a big lineup here today. mike santoli is in for andrew. he will talk about what he's been seeing this crazy week. ed lee joins us today as guest host on amazon, we have eric sheridan, and on alphabet, victor anthony u.s. futures at this hour are under pressure the dow futures are down by 327. stat would undo what we saw

aig expects to report third-quarter catastrophe losses and $1.7 billion.or natural disasters including hurricane florence. for losses tied to hurricane michael r 300 to $500 million. there's a to be included in fourth quarter results. the company at the center of a bloomberg businessweek report about chinese hacking has told u.s. senators it has seen no evidence of tampering. supermicro says no u.s. agency has found any attacked hardware. bloomberg businessweek described how china's intelligence services using subcontractors to plant malicious chips in the companies server motherboards. paypal reported earnings that beat analyst estimates. $.58ted eps came in at compared to forecasts of $.54. revenue rose 14%. paypal said it is making progress toward monetizing then mow, the popular mobile payment service. new york state officials are considering blocking parts of the $68 billion merger of cvs health and aetna. the companies won approval from the justice department, but the deal needs to pass through state regulatory bodies. obstruction from u.s. officials

aig!? what happened? i don't know. is she okay? ♪ craig and sheila broke up! craig and sheila!?sip travels fast, you can count on geico saving folks money.ai and sheila broke up! what!? fifteen minutes could save you fifteen percent or more on car insurance. and i don't add up the years. but what i do count on is boost®. delicious boost® high protein nuritional drink now has 33% more protein, along with 26 essential vitamins and minerals boost® high protein. be up for life. boost® high protein. olay deep hydrating eye gel breaks through the competition olay eyes with b3 complex hydrates better than $100, $200 even $400 eye creams. that's something to see. olay >>> at the end of a long, ugly confirmati process that began as soon as judge brett kavanaugh was nominated by president trump to serve onhe supreme court, we thought we'd take a deep breath together this morning to assere we are. harry smith has our sunday closer. >> reporter: anger, rage, disgust. these are the words which describe how we americans feel about each other. we look across the political divide and see cynici

this year and then going into 2020 with a president who, you know, has made his own personality such aigue? >> well, he's a talented entertainer and a reality tv star, but his term as president is not really going well, in my opinion. the economic recovery which began under the last administration has continued unabated, even with theck s market rollercoaster this week, expect and hope it will continue, but the damage he's doing to the gooname of the united states of america is just incalculable, and i think people do not want this kind of anger and repeated falsehoods inour political discourse. ocratsk me what the dem should do. well, i gue sss the righttrategy would be just to say, look, give us a chancto kind of rein him in a little bit and prevent so many of these excesses so tht he doesn't have free rein to puh polluters in charge of environmental policy, to take away protections the people need in all these other areas of our lives, and i kindhe of thinkmerican people are going to want to do that in november. >> woodruff: former vice president us from los angeles, thank you very mu

residents in the area said they heard aig boomhen it landed yesterday. nobody was hurt. they were testing a new heavy lift platform system, and thata humvee supposed to land about a mile away. might want to keep testing that system. >> not that close. >>> then check this out. you don't want to mess with this judge. this video is out of washington state. >> take a look atit this. shows a judge chasing after two inmates two tried to escape his courtroom. look at thisng it's somet out of the thre stoojs o sto stooges. the judge rips off his. ro >> very clark kent. >> the two men go down the stairs. the judge's name is r.w. buzzard. this happened earlier this month outside of. seatt both men were caught, as you can imagine. >>> all right. 5:42 now. >> good morning, everybody. dog walking forec if you don't have a dog and you'd like one, sicilye h available for adoption at the humane rescue alliance. find out how to adopt this 6-year-old baby dog. all right. ,so dog walking foreca it is a cold one this morning. even some of those light-coated dogs may need their jacket this t

that's still be aig hazard. >> thank you very much. >>> nbc's kerry sanders is in panama city, florida where several buildings have reportedly collapsed after taking a direct hit from murk michael. kerry, i've seen images from panama city that are pretty upsetting. >> reporter: indied they are. this is a tale of the eastern and western portion of the storm. of course to the east of the storm about 43 miles from here is mexico beach when the eye came up shore that was to the east and that's what drove in the water. the winds of 155 miles per hour walloped that small community. in fact, trying to get to that community is very difficult right now for emergency officials and anybody else. meantime, as you come this side of the storm, west of the eye, the damage is not so much the water-driven storm surge but rather the wind damage and the wind damage just a short distance from here, about a 15-minute drive, one of the marinas, a good portion of it collapsed. i've got to tell you i was out in the winds today at 150 some odd miles an hour. i didn't have a wind gauge. but i'll tell you, it to