fraudulent accounting in 2005 that forced greenberg from aig.ill being taught now. three attorney generals later by eric schneiderman. and here's what's really interesting. since hank could not get this case dismissed, what we understand inside schneiderman's office that they are planning to take greenberg's deposition when this thing goes to trial. it's going to be an amazing scene when hank greenberg goes be up there and puts his happened on a bible and says, and swears to tell the truth, the whole truth and nothing but the truth about his time at aig. that's what we understand the intentions are of eric schneiderman, to put hank greenberg on the stand and to get whatever he needs to get from him in this case. liz: so no settlement right now. >> now here's the interesting thing, this is a civil case, we should point out. if it was a criminal case, you can say, you know, take -- exercise the fifth amendment. liz: this is about money. >> and he has to testify. it's not like, you know, in a criminal case where you don't have to testify. hank will

but you'll see jack greenberg. and jack greenberg was oticeable. had the privilege along with another recovering lawyer, i think i can describe him as, he's been busy with other things who's here today, governor patrick, of being, i think one of the last two, i think we were the last two hires that jack greenberg made at the legal defense fund. i -- i can't say -- i won't say, it's not my place to say how good my hire was. i will say na -- that he made a great hire in governor patrick. nd i remember when i was hired, elaine, you know how jack was. i came to l.d.f. from, i was trying to get out of the justice department. the administrations had changed. i was now in the reagan administration. and so i came up to new york at jack's behest for an interview. and some of the lawyers were unhappy because jack made this decision. by himself. you know, he decided who was going to be hired. and some of the lawyers were fussing about not having a role in that. and jack said, another lesson that i learned that i used later, not as well as jack perhaps, jack s

but you'll see jack greenberg. and jack greenberg was noticeable. [laughter] the privilege along with recovering lawyer, i think i can describe him as. other things with things. governore today, patrick. i think we were the last two that jack greenberg made at the legal defense fund. i can't say and won't say -- place to say how good my hire was. i will say that he made a great governor patrick. [laughter] when i was hired, jack was, iknow how came to l.d.f -- i was trying to get out of the justice administrations had changed. i was now in the reagan administration. so i came up to new york at jack's behest for an interview. and some of the lawyers were because jack made this decision by himself. you know, he decided who was going to be hired. and some of the lawyers were having a rolenot in that. and jack said -- another lesson i usedlearned that later. not as well as jack, perhaps. offhandedin a very way again, "i think democracy is countries." [laughter] [applause] there's so much more i could say about jack, but we need to hear the governors. i

and that is jack greenberg. jack greenberg came to the legal defense fund as you see from the program in 1948. and he came to the legal defense fund after serving in world war ii. in the marines. n fact, i always remember that when jack was told at some point that he had handled what was supposed to be a tough situation with great -- grace and handled it well, jack said in a very offhanded way, i've been in tougher situations than this. he was at iwo jima. served his country even before he came to the legal defend fund to serve it in another profound way. jack as you know joined the 61 f in 48 and from 48 to was assistant counsel before becoming director counsel from 61 to 84. the longest tenure of any director counsel. d with all due respect, to sherilynn, who is only beginning, i suspect that there will not be another who serves in that position over so many years. and he served so well. jack happened to be directedor of the uring the days civil rights movement. it was jack who was on the phone with other ldf

melissa: and greenberg. what does it tell you how he is taking on cases and what it means for people with money? >> this is a case he inherited. the question is why he pushed it so far? this is spitzer case. why didn't cuomo abandon it, we don't know? why did schneiderman abandon it. it has fallen apart over time. what is left is almost immaterial. it is not necessarily huge news if it settles. we know what the history given greenberg settles with sec. if it is modest fine, i think, i don't think he wants to accept a lifetime ban. doesn't really apply to him. >> if hank settle this is case it will be pretty big news. >> on what terms is the question. >> i agree. here is the problem that he has. if he settles it with a lifetime ban, remember he operates a fairly large insurance company called star. big insurance company aig was created by hank greenberg. he is creating another one fairly large. if he settles were with a lifetime ban that hurts him with regulatory authorities in u.k. that really does hurt him.

in recent weeks hank greenberg has had a democratic operative, the head of his p.r. he has outed his old head of p.r. schwartz sparred over the approach to this snyderman case. he is an attack dog, definitely going from an attack dog to a gentler approach. a guy with a softer hand. if you want to fight like hell, you hire him. if you want a softer touch, you go to steve. that is what has everybody talking. listen, in a battle like this, what are you going to do, play nice? this is what has people talking. going from arthur, and attack dog. a lot of people are talking but a settlement. i was just informed by greenberg's office, there is no settlement, they want to go to trial. i will say this. he handles a lot of stuff for hank including his lawsuit against the federal government involving the legality of the aig bailout. that is a huge case. you don't get the impression is a big-time democrat really wants to bring this case on aig where schneiderman was kind of left with it. most of the case was thrown out. he dropped all the monetary damages. all he is looking for i

and that is jack greenberg. jack greenberg came to the legal defense fund as you see from the program in 1948. and he came to the legal defense fund after serving in world war ii. in the marines. in fact, i always remember that when jack was told at some point that he had handled what was supposed to be a tough situation with grace and handled it well, jack said in a very offhanded way, i've been in tougher situations than this. he was at iwo jima. served his country even before he came to the legal defense fund to serve it in another profound way. jack, as you know, joined the staff in 48 and from 48 to 61 was assistant counsel before becoming director counsel from 61 to 84. the longest tenure of any director counsel. and with all due respect, to sherilynn, who is only beginning, i wish her a long tenure. i suspect that there will not be another who serves in that position over so many years. and he served so well. jack happened to be directedor -- director counsel during the days of the civil rights movement.

. >> karen greenberg, if we look back at the days that we're making some of the insurances that we're making now, the argument was made quite forcefully that bringing just high value detainees, internationally wanted men, and suspected of some of the greatest crimes in recent history, to lower manhattan and trying them there, just exposed new york in a way that was really inexcusable after 9/11. can we take the public and the public sentiment out of this equation and just do what black-and-white letter law and the book says, or do we have to consider how new yorkers feel and the way americans feel about this? >> you know, i'm not sure that new yorkers or americans have been given the chance to go on record about whether or not they think that the 9/11 trial could have or should have happened in new york. it was something that was made by the mayor at the time, michael bloomberg, and it happened rather quickly, the bushback from above and from the government. i just the on weigh in on the guantanamo differences, because there are major ones. in the federal courthouse in, no, the judge

on skype, karen greenberg, director of the center on national security and sebastian gork a, military affairs fellow at the foundation for the defense of democracies. welcome, everyone, to the show. adam, 10 years since everybody at abu ghraib was exposed. i remember at the time, there was public outrage. there was this incredibly high visibility in the media, in congress, and i think there was a sense of the american public that when it gets this much attention, obviously something is going to shift. has anything shifted significantly? >> i can tell you what hasn't shifted. we are still talking about quote, unquote torture. we are talking about what the american government did to these individuals in abu ghraib and more recently, what the cia did as part of this program to detainees and black sites, you know, across eastern europe and in thailand. and it seems that the government, the u.s. government, just can't escape its past. >> karen, by not escaping its past, does it continue it's former actions? >> well, i don't know if it continues its former actions, but it leaves open the po

janine claytd phyllis greenberger, we thank you. >> thank you. >> ifill: later tonight on most p.b.s. stations, frontline airs the second part of "united states of secrets." tonight's installment focuses on the relationship between u.s. technology giants and the national security agency. the following portion reveals some of the tech community's reaction to revelations that the n.s.a. was accessing data from major internet players like facebook, yahoo, google and skype. the agency called the program, prism. >> narrator: on the other side of the country, in silicon valley, there was anger and confusion over just what kind of access major internet companies were giving the nsa. >> there was shock and disbelief and horror. a lot of people i know, silicon valley-type people, just felt, "it can't be right. it's not possible google, facebook, these guys are collaborating. it's not just what they would do." >> the ceos of internet companies like facebook and google denied... >> narrator: the companies scrambled to respond to the news. >> google denies that they have direct access. who's righ

. >> thestreet.com, featuring herb greenberg who reminds investors that risk is real with herb greenberg's reality check researching stocks in terms of risk. you can learn more at thestreet.com/reality check. >>> new height, investors are back from the beach and in an optimistic mood sending the s&p 500 to a record close. the head of charles schwab, one of the nation's largest vestment advisers, tells people who they can do their money. >>> and astrazeneca, and the story is far from over. >>> and power surge, why utility stocks are this year's darlings and can they continue to out-perform? we have all that and more tonight on "nightly business report" tuesday may 27th. >>> good evening and welcome, everybody, back to work and back to setting records. investors return from the long holiday weekend in a buying mood pushing the s&p 500 into record-closing territory and driving the enthusiasm today with deals and data. pilgrims pride offering to buy hillshire brands for more than $6 billion. more on that one and on the economic front, orders for goods rose, and shares are increasing. by the cl

. >> thestreet.com featuring herbert greenberg who reminds investors that risk is real, with herb greenberg's reality checks in terms of stocks and risks. you can learn more at thestreet.com/reality check. >>> bluest of the blue chips, ibm ceo in a rare television interview saying that ibm is re-inventing itself with a plan for changing the industry and growth. >>> did fannie mae and freddie mac just make it easier for americans to get home loans? >>> and open for business, small business owners are feeling more optimistic but does that mean more jobs and will the economy roar back? we have all that and more on "nightly business report" this tuesday may 13th. >>> good evening, everyone, and welcome. records fell again on wall street today as the dow industrials and the s&p 500 each closed at record highs, more on that in a moment. but we begin with big changes being rolled out at a company that as much as any defines the permanent blue chip, you may earn more in portfolios or funds, it contributed not one bit to the rising markets, the shares were off slightly. the ceo sat down with a rare te

with herb greenberg's reality check researching stocks in terms of risk. you can learn more at thestreet.com/reality check. >>> new high, the s&p 500 closes above 1900 for the first time ever. and our market monitor guest has three stocks he says will gain 25% in 18 months or less. >>> rebound, new home sales rise, so do home building stocks. so is it time to invest? >>> and the pressure is on for drug companies to lower their prices and leading the push is the nation's largest pharmacy benefit manager. we have all that and more tonight on "nightly business report" for friday, may 23rd. >>> good evening, everyone, and welcome, who says not much happens in the markets on a friday before a long holiday weekend. despite light volume the investors pushed the s&p 500 to a new record closing high, closing at 1900 basically on the button for the first time ever, stocks got a big boost from better than expected home sales last month and we'll talk housing in just a moment. for the week the u.s. markets had their biggest gain in a month. each gained more than 2% th

with herb greenberg's reality check, researching stocks in terms of risk. you can learn more at thestreet.com/reality check. >>> double play, the dow and s&p end the month in record territory. what is next for stocks and bonds? we'll take a look. >>> power portfolio, this week's market monitor has three energy key items that can help, break out your notebook. >>> and why walmart is offering classes to students about life after high school. all that and more on "nightly business report" for friday, may 30th, 2014. >>> good evening, everyone, well, it looks like sell in may and go away didn't quite work out this time. both the simply and dow closed at new record levels today on the last trading day of the month, stocks lower for today following a disappointing surprise on the economic front showing consumer spending in april fell for the first time in years as prices started to inch up. but despite that the bulls persevered. the dow closed at an all-time high, the s&p putting on three and a half points to 19,023, but the nasdaq fell five months, for the month

. >> thestreet.com, featuring herb greenberg who reminds investors that risk is real, with herb greenberg's reality check in terms of stocks and risks. you can learn more at thestreet.com/reality check. >>> the magic of macy's disappeared just a bit in the first quarter, sales were soft but management is optimistic. is the ceo right or is the consumer pulling back? >>> cisco kid, the stock initially takes off, could this dow component be setting the tone for tomorrow? >>> taking a toll, president obama says hundreds of thousands of jones -- jobs are at risk if congress lets the highway trust fund run dry, halting the projects to re-build bridges and roads across the country. >>> good evening, everyone, and welcome, i'm tyler mathisen. >>> i'm sue herrera filling in for susie gharib. there were no records on wall street as investors did a little profit-taking and sold more on stocks. we begin with macy's, the nation's biggest department store chain and a shopping staple for most americans for generations, shares of the chain ended just a hair lower today after reporting sales fell short of f

with herb greenberg's reality check researching stocks in terms of risks. you can learn more at thestreet.com/reality check. >>> market driver, companies are eating up tens of billions of dollars of their own shares. are the buybacks making the market look healthier than it really is? >>> high ceilings, why the sweet spot in the housing market could be going through the roof. >>> and standard care, the nation's number two insurer says it will pay cancer doctors an incentive fee if they follow its treatment protocol. smart business? smart medicine? neither or both. all of this and more on "nightly business report" for this may 28th 2014. >>> good evening, everyone, mcdonald's served up a big happy meal for shareholders today. it announce d a $20 billion package of stock buybacks and dividends by the year 2016. now, this new plan could give investors 20% more cash than they received during the last three years. the higher return comes at a time of weak company growth at the fast food company as u.s. sales have continued to be disappointing. but despite the ne

with herb greenberg's reality check resurging stocks in terms of risks. you can learn more at thestreet.com/reality check. >>> sharp selloff, stocks plunge and so do bond yields, what should nervous investors do. >>> consumer concerns, the world's largest retailer walmart reports its weakest sales growth in five years and its outlook is not much better. are its core customers tapped out? >>> when he speaks, wall street listens, and what this hedge fund billionaire said about the market matters to investors. we have all that and more tonight on "nightly business report" for thursday, may 15th. >>> good evening, everyone, it is an evening for your beverage of choice. if you own stocks, the funds that invest in them, japan, europe, here, everywhere you turn investors were selling shares today. at one point the russell 2,000 index of smaller u.s. stocks dipped into correction territory off 10% from recent highs. and unlike the recent indexes, it managed to end off its lows but there was lots of damage done nevertheless. the dow fell 167 points making for a tw

. >> thestreet.com feature herb greenberg who reminds investors that risk is real. with herb greenberg's reality check resurging stocks in terms of risks, you can learn more at thestreet.com/reality check. >>> maximum fine, general motors will pay $35 million, largest penalty possible for the ten-year delay of its ignition switch recall. is the automaker now in the clear or are more fines on the way? >>> and warren buffet, john paulson, some of the world's smartest investors are buying up shares of verizon, what do they see in this stock that others may not? >>> and caps on coverage, some health insurers are trying to make you pay more for your coverage. but the new approach could be hazardous to your wealth. >>> all that the and more tonight on "nightly business report" for friday, may 16th. >>> good evening, everyone, the bad news for general motors got even worse today. federal transportation officials slapped the automaker with a $35 million fine. the biggest allowed by law. for failing to act quickly enough to recall millions of cars with faulty ignition switch

let us bring in herb greenberg.ade a screen on my fax set, i've got 30 pure play cloud names. not or carell or the big names, et cetera. almost all of them are in the red. you're also coming out against these companies. what's the problem? >> well, it's not that i'm coming out against them. this is the kind of thing you sort of could see coming because this is the classic wall street situation where everything is supposedly cloud. what is cloud? do people really understand what the cloud is? i think it's fascinating. back in 2009, larry ellison was actually confused. >> i don't know about you, but i can't hear -- >> he said -- you can't hear me? >> the audio being run by a cloud computing company. >> oh, really? >> straight through the internet. you there, herb? >> i am here. i am here. can you hear me? >> continue your rant. you were talking about larry ellison in 2009. when everything is red? the sky is red? >> absolutely. >> explain this cloud computing thing to me because it feels like, you know, everything's be

with herb greenberg's reality check, researching stocks in terms of risk.>>> double play, the dow and s&p end the month in record territory. what is next for stocks and bonds? we'll take a look. >>> power portfolio, this week's market monitor has three energy key items that can help, break out your notebook. >>> and why walmart is offering classes to students about life after high school. all that and more on "nightly business report" for friday, may 30

. >> thestreet.com featuring herbert greenberg who reminds investors that risk is real, with herb greenberg'sreality checks in terms of stocks and risks. you can learn more at thestreet.com/reality check. >>> bluest of the blue chips, ibm ceo in a rare television interview saying that ibm is re-inventing itself with a plan for changing the industry and growth. >>> did fannie mae and freddie mac just make it easier for americans to get home loans? >>> and open for business, small business owners are feeling more optimistic but does that mean more jobs and will the economy roar back? we have all tt

with herb greenberg's reality check resurging stocks in terms of risks. you can learn more at thestreet.com/reality check. >>> sharp selloff, stocks plunge and so do bond yields, what should nervous investors do. >>> consumer concerns, the world's largest retailer walmart reports its weakest sales growth in five years and its outlook is not much better. are its core customers tapped out? >>> when he speaks, wall street listens, and what this hedge fund billionaire said about the

i'm peter greenberging that story ahead on "cbs this morning."get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. everin a day is building up layer, upon layer, of bacteria. and to destroy those layers? you need listerine®. its unique formula penetrates these layers deeper than other mouthwashes, killing bacteria all the way down to the bottom layer. so for a cleaner, healthier mouth, go with #1 dentist recommended listerine®. power to your mouth™. also try new listerine® naturals. the only mouthwash that combines the power of listerine® with naturally sourced ingredients. to you... they're more than just a pet so protect them, with k9

with herb greenberg's reality check, researching stocks in terms of risk. learn more at thestreet.com/reality check. >>> double play, the dow and s&p end the month in record territory. what is next for stocks and bonds? we'll take a look. >>> power portfolio, this week's market monitor has three energy key items that can help, break out your notebook. >>> and why walmart is offering classes to students about life after high school. all that and more on "nightly business report" for friday, may 30

peter greenberg is here.>> how can they have a crash and they make money? >> it happens all the time. this first came to light for me back in 1979. american airlines flight 191, the worst aviation disaster in u.s. history, within three hours of that disaster american airlines received its largest profit in history because they bought the plane back in 1972. they had written it down in book value for seven years. at the time of the crash it was worth $26 million. that's the payout they got. they actually described it later on as an involuntary conversion of a aircraft but it came in as a profit. this goes on and on. pan am in 1988 received a payout of $9 million. even the u.s. miracle on the hudson plane a $22 million payoff within 72 hours of the loss of the plane. >> in the case of malaysian flight 370 where we still don't know really what happened how complicated will that be for the families? >> not complicated at all, which is the bad part of the story. they're governed by the montreal convention which wa

let's bring back herb greenberg. are you there?i am here. >> okay, we're going to talk about a name you're raising a red flag on, but i've got to quickly ask you about the story that is burning up cnbc.com. earlier today at an investment conference, deutsche bank conference, larry fincke said they will never ever launch a leveraged etfe these are his words, powerful words, that leveraged etfs could quote, blow up the whole industry one day. it's already our most read or close to it. what do you make of larry fink's comments? i know you, too, herb, have been critical of leveraged etfs in the past. >> i don't think this is the first time he's said it. if they blow up the industry, it takes him down with it and he's the largest provider at black rock of etfs, so i think that warning can't go out. trying to put out in leverage junk bond fund. oh, what could go wrong with that, well, if something goes wrong with that and other leveraged etfs, he ends up with a serious problem. >> in ucla in october with bill gross, to that effect. when

jack greenberg.[applause] >> good afternoon. first, let me congratulate cissy marshall, who is the inspiration , mentor, friend, and i wish all of you could know her the way the sava some unfortunate enough to get an hour. she has one of the most wicked sense of humor you will ever here. [applause] but she is a great, great civil-rights warrior in her own name. jack greenberg. there are presently, by my count , two signatories to the brown v free. judge weinstein is not with us today. bill coleman, of course, is one of my euros. but out of the lawyers who argued brown there is one survivor, and that is a jack greenberg. jack greenberg came to the legal defense fund, as you can see from the program, and 1948. and he came to the legal defense fund after serving in world war ii, and the marines. in fact, i always remember that when jack was told at some point that he had handled what was supposed to be a tough situation with grace and handle it well jack said in a very offhanded way, i have been in toug