. >> i will be chatting with retired chief executive bob benmosche. i traveled to spend time with this retired wall street titan where he owns a vineyard. >> you want to try this? >> sure. >> we have a ways to go. >> and recounts how he turned around a company left for dead. >> i had a company with a value of zero. today the market value of aig is almost $80 billion. >> all while dealing with a personal struggle. >> with this illness, i have nine months to a year to live. >> that's what they said. >> that's what i was told. and then they put me on this aggressive chemotherapy. i said i have an obligation to resign if i cannot handle the chemotherapy. >> robert ben benmosche was born in brooklyn in 1944. early in his childhood his father moved his family to the catskill mountains, but shortly afterwards, his father died of a heart attack, leaving his mother and three other siblings a quarter of a million dollars in debt and with a half completed hotel. from there, money, having enough of it, became a driving force in benmosche's life. soon after gradua

benmosche did not step down and the bonuses were handed out.erwards, most of the highest-paid executives agreed to give the money back. but the outrage over the bonuses and benmosche's $10 million compensation lingered. bob, can you understand the public frustration, not only at the time, but even now? the public frustration with pay? with excessive pay? can you understand that point of view? >> i understand a part of it. but you have to understand, you gave me $10.5 million a year. but in the end, you thought i had a company of zero value. zero. actually negative. and today the market cap, the market value, not the equity, the market value of aig is almost $80 billion. if i said to the american public i will create you an $80 billion company and give it back to you with a profit, but i want 1% or 2% of that 80 billion, what i create, they would give it to me. >> americans don't see it that way, right? >> they do not understand what was created. they think somehow it gets created -- >> they think the rich are getting richer, that all the rich a

robert benmosche dead at the age of 70. the fate of the department of climate security -- of homeland security still unsure. peter cook is on capitol hill. what is the status of this temporary fix and will it work? >> the status is the house of representatives is looking to pass a three-week continuing resolution that would fund the department of homeland security at its current level giving republicans more time to take a whack at the presidents immigration executive order. meantime, over in the senate you've got republicans there who have effectively blinked and they have agreed to fund the department of homeland security through the end of this year. two different tracks from two different republican leaders. what we are waiting for now is for the house to come back into session and passed this vote for this three-week extension. it may happen soon. here are some of the debate that played out earlier. >> a solution is being put forward. there is no one putting forward a bill to shut anything down. it is too fond for thre

steve liesman covered benmosche during the financial crisis. i know aig has a stained name because of the bailout. benmosche came in. he was already sick. he risked his own health to help the u.s. taxpayer and the company. >> i think that's a good way to put it brian. this was the you got to be kidding me story of the financial crisis. remember the aig bailout happening a day after the leman bankruptcy on the 16th of september, 2008. there were four different kashdz the government had to come to the rescue of aig. . it was really thought to be a massive hole and then benmosche comes in in twooirn, and these very focused in terms of how he gets the company on track to really reorient itself back towards its essential business lines as the primary business lines, selling off assets or raising money and understanding the only way back for this company was to repay the government. it did so in 2013. it did so with a profit of $20 billion on a total of $180 billion. here's what benmosche said when he fulfilled the obligation to the government. >> wh

robert benmosche, dead at the age of 70. that's your cnbc news update.osing bell" is back in a moment. hey, girl. is it crazy that your soccer trophy is talking to you right now? it kinda is. it's as crazy as you not rolling over your old 401k. cue the horns... just harness the confidence it took you to win me and call td ameritrade's rollover consultants. they'll help with the hassle by guiding you through the whole process step by step. and they'll even call your old provider. it's easy. even she could do it. whatever, janet. for all the confidence you need td ameritrade. you got this. ok, if you're up there, i could use some help. smart sarah. seeking guidance. just like with your investments. that sets you apart. it does? it does. you're type e*. and seeking another perspective is what type e*s do. oh, and your next handhold... is there. you don't have to go it alone. e*trade gives you the support and guidance to make informed decisions. are you type e*? >>> welcome back. let's do a quick data check. the nasdaq is just off the session lows. no 5,000

. >> i will be chatting with retired chief executive bob benmosche.veled to spend time with this retired wall street titan where he owns a vineyard. >> you want to try this? >> sure. >> we have a ways to go. >> and recounts how he turned around a company left for dead. >> i had a company with a value of zero. today the market value of aig is almost $80 billion. >> all while dealing with a personal struggle.

. >> i will be chatting with retired chief executive bob benmosche.d to spend time with this retired wall street titan where he owns a vineyard. >> you want to try this? >> sure. >> we have a ways to go. >> and recounts how he turned around a company left for dead. >> i had a company with a value of zero. today the market value of aig is almost $80 billion. >> all while dealing with a personal struggle.

former aig ceo robert been much a died -- robert been russia -- robert benmosche died at 87. >> he madehe announcement his successor would be coming up sooner than anticipated. aig said under his leadership aig paved america in full. a profit of $23 billion. >> diplomatic talks between the u.s. and cuba resume today. john kerry says the decision -- the decision is separate from talks to normalize relations from the two countries. cuba wants to be removed from that terrorism list first. priceline has named a new ceo of priceline.com. chris soderbergh comes chairman. additions to the portfolio including the purchase of the restaurant renovation service opentable. french media conglomerate is planning to return 6.4 billion dollars to shareholders through dividends and buybacks. the company has unloaded $30 billion in assets, including two wireless carriers. they profit nearly quadruple -- the profit nearly quadrupled in the fourth corner. that fourth quarter. this comes a week after apologizing -- including adware on laptop -- adware on laptops. they will offer effective losers a free six

country's financial policy robert benmosche dead at age 70. >>> heldole everyone i'm kimberly guilfoyle along with juan williams, eric bolling. it's 5:00 in new york city and this is "the five." >>> day two of cpac and a new batch of gop stars. >> imagine if we had a commander in chief that understood that the way to defeat isis is not to find them a job, imagine a president who doesn't travel the world bad mouthing america. we survived jimmy carter. we will survive the obama years too. there is nothing wrong with america that cannot be fixed with new leadership. we must rise and stand with our forefathers who stared down the king. we must rise as free men and women and reclaim our birth right. we must protect and defend the constitution against all enemies foreign and domestic. >> rubio perry and paul followed by republicans speaking to win over a lot of critics within the party today. here is jeb bush defending his stance on immigration. >> you said they broke the law. it's not a felony. it's an act of love. you also said that you support a pathway to citizenship. >> the simple fact i

one of the greats bob benmosche passed away today, rescued aig from oblivion saved millions of taxpayers in the process. bob was a frequent guest of "mad money." and we always thanked him for his service while also marveling at how he rebuilt aig as a tremendous insurance company without the crazy risk it had been taking to make its numbers. you know bob was a one of a kind guy, a veteran, took no prisoners in business but never took himself too seriously. bob, thanks one more time. you will be very much missed. you were the bright light in the business world and we are all poorer without you. >>> michael in illinois. michael. >> caller: boo-yah, jim. >> boo-yah! >> caller: i wanted to thank you for all you do. my question has to do with kinder morgan. do you think the precipitous drop in oil prices coupled with the recent refinery strikes could have a major impact on the earnings of a transport and storage company like kinder morgan. >> you've got to go over what rich kinder said there is probably maybe 6% of a vig about oil, he gives a formula for how much per dollar. it is soin finish

the insurer who some say single handedly made good on this country's financial policy robert benmoschee along with juan williams, eric bolling. it's 5:00 in new york city and this is "the five." >>> day two of cpac and a new batch of gop stars. >> imagine if we had a commander in chief that understood that the way to defeat isis is not to find them a job, imagine a president who doesn't travel the world bad mouthing america. we survived jimmy carter. we will survive the obama years too. there is nothing wrong with america that cannot be fixed