as part of the settlement metlife neither admitted nor denied the charges. shares fell 2% to 44.79. >>> an incredible triumph in the sports world. leicester city football club overcame 5,000 to 1 preseason odds to clinch the english premier league title, one of the greatest upsets in sporting history. especially for a team with a payroll a fraction the size of its rivals. discussing the money behind the victory, let's start with those who placed a bet on lester before the year started. i assume that most of the sports books, the house always wins because it was more money moving on the favored clubs like chelsea or man city, man united. but they had to lose a lot of money on leicester city. >> they had to lose a lot of money on leicester city. if you put $20, you win $100,000. so it just takes a few people to do this and blow it up for the bookmakers. in fact, the bookies we talked to, not the street bookies, guys that are running real operations, william hill in the u.s., in england, lost six figures in the u.s. on all of their english soccer. so even all t

so that gsd stuff continued on and on through all of the jobs he had going into metlife where he took on this huge responsibility for the mutual is eight and, taking the cut company public. i think that is an operating talent of his that just got more intense as he got older. >> host: there a lot of habitats in the book. that is very true to how he spoke in his voice really comes through. that's a great testament to the writing of the book. he has another phrase in we probably won't be able to say this one but he describes it as if there is anything i low, is the business person who looks at you with painted on smile spouting the company line. he has an expression for that and maybe you can come up with a way to describe and tell me how he thought about that. >> guest: he called it grim grin -- it was probably one of the reasons i wanted to write the book. i helped to write the book because it was so colorful and so perfectly distillation of everything i have observed over my life and my work life, that i thought here's a man who is a natural philosopher. of course it refuse to people

so that gsd stuff continued on and on, through all the jobs he head, going into metlife where he took on this huge responsibility for demutualization, taking the company public. and i think that was sort of an operating talent of his, that just got more intense as he got older. >> there are lot of epithets in the book. suspect that's very true to how he spoke. but he has another phrase, and we probably won't be able to say this one but he described if there's anything i loathe, it's the business person who looks at you with a pasted-on smile, spouting the company line or nodding and completely unconvincing agreement. so has hand expression for that maybe you can come inwith a way to describe and tell me how he taught of it. >> guest: he called it grin fing, and it's -- it was probably one of the reasons i wanted to write the book. i helped him write the book, because it was so colorful and so perfectly -- a perfect distillation of everything i've observed in my work life, that i thought, well, here's a man who is sort of a natural philosopher, and of course its refers to people who sm

it was a complicated situation and it was somebody he worked with at metlife. when he was the ceo. so it's not a life that is tied up but whose is coming and we debated and talked long and hard including the other people involved in the situation about whether to include all aspects of his life in the >> hooks. >> congratulations in. >> a doctorate in journalism

metlife put the insurance money in escrow and waited on the sidelines as michel and wendy's family foughtl court. but in michel wanted to see one cent of that money, he would have to do something he hadn't done before. >> he would have to testify, he could not plead the fifth. especially since he's pursuing the claim. he has to testify. >> police and prosecutors were happy to help the family's attorney prepare his case. sharing those statements michel had made to detectives after wendy's death. >> they call you and say take a look at what we've got, is that right? >> we ask if we would be allowed to look at the statements he had given them. we were. >> michel was videotaped as he gave a sworn deposition. >> we took his deposition and his story kept changing. >> so the story about a fight and she takes a hike -- >> it doesn't add up. he testified that wendy was -- it was her idea all of a sudden that night to go to the miami executive hotel. >> however, back in 2002, yolanda, the ex-girlfriend, told police michel asked her to make the hotel reservation. it wasn't wendy's idea at all. a fac

metlife says it is looking to exit most of it had fun -- hedge fund portfolio. $4.2 billion of 1.8 billions. it may take a couple of years. it was cut by about $600 million in 2016. purging a board to negotiate on the consulate -- unsolicited $9.3 billion takeover offer. overwhelming support for a deal. sergio marchionne expects the company's new partnership with google to speed up the commercializing of self driving vehicles. here years earlier today. anything in collaboration with google will by definition expedite the process. the combination is bound -- to develop out 100,000 prototypes. hybrid powered. vonnie: first, candy bars and hot chocolate, too. that is medicine that would go down well, i am sure. you can read all about it in the latest bloomberg businessweek. nestle and medicine? does it come in chocolate form? >> a good question. we do not know yet. making things that taste good that we want to eat, if these things happen to make you healthy instead of making fat, as can happen if you eat too many butterfingers arctic cat bars, all the better. mark: wanting to have its cake an

you have seen some other insurance companies say, like metlife, potentially looking to exit their retails. but we have not been able to report out that they have hired anyone or they have set valuations. vonnie: of course, they have other priorities. alex: exactly. vonnie: they do not want to be labeled -- you can bring us more details as they come in. the stock is down about .1% in trading. we are in the final few moments of the treaties -- trading sessions. stocks headed for the third day of losses. what is the reason for today's drop? >> it's more perhaps an issue with earnings. let's face it. we are at the point now are earning season is very well done , and we know the kind of rebound a lot of people are anticipating in terms of what analysts were estimating going into the results, it just hasn't happened. with about 420 companies in the s&p 500 out as of now, you're looking at 8.1% drop in earnings for the first quarter. and when the reports began coming in, analysts were looking for a 10.1% drop. that figure had come down from a half percent increase during the first quarter. so t

but certainly this metlife ruling gives us interesting options down the road should it change. >> david>> and, peter, finally, don paulson and representative of carl icahn of course slated to join the board of directors. how would you characterize their addition at this point? is it going to create friction on that board, or do you think given your -- i would assume you've already been interacting with him that it will be a smooth transition? >> to be clear they haven't joined the board yet. that will be at the next board meeting, but we certainly have stepped up the level of interaction and transparency. i'm happy to say with a greater engagement we're finding a lot of common ground. and i think with a large holding in aig stock, they're totally aligned with whatever it takes to improve the long-term value of this company, which is all about improving operating margins, being more capital efficient and focusing this company where it can win. >> peter, it's good to have you. welcome, thanks so much. >> good to see you again. >> peter hancock aig. >> thank you. >> dow now down 169. we'll

metlife put the money in escrow and waited on the sidelines as it was fought out in civil court.see as much as one cent of that money, he would have to do something he hadn't done before. >> he would have to testify. he cannot plead the fifth, especially since he's pursuing the claim. so he has to testify. >> michel was videotaped as he gave a sworn deposition. >> we took a deposition and his stories kept changing. >> so the story about a fight and she takes a hike -- >> it doesn't add up. he testified that wendy was -- it was her idea all of a sudden that night to go to the miami executive hotel. >> however, back in 2002, yolanda, the ex-girlfriend, told police michel asked her to make the hotel reservation. it wasn't wendy's idea at all. a factual discrepancy also known as a lie. when the civil case went to trial, he got so roughed up that on the second day, he was a no-show in court. wendy's mother got the insurance money, and prosecutors got to hear firsthand about his constantly shifting stories. >> the state attorney said in the courtroom and was taking notes. >> did you ha

trumpet call a beautiful the is happening when the courts ruled in favor of metlife and all those regulators had to leave those three officers - - offices that they would harass met life said we need to do that with the economy great big reserves it isn't multiplied bridges sterilize. and also will remove the barriers to the regulatory barriers so the government starts to misbehave and then you can lock it in leaded unleash if i knew i would be on the "forbes" 400 list of rich people. [laughter] but let and unleash it isn't complicated. just doing and we will be pleasantly surprised how quickly become backlight watering the garden. >> you are already at the top of the list. >> have a like to make a comment from the practical point of view setting a specific price would not work. i do disagree with steve a little bit of this bourke-white think it should be used as an indicator as to whether we are to inflationary or deflationary bell with monetary policy you want to provide basic stability and milton friedman said with that goal in mind and in fact, they have been moving relatively stable thr

we just had the metlife case, a courageous judge looked at the government's case and found it full of opinion and devoid of facts. in support of her opinion, judge collier called the government's case fataly flawed because of the absence of facts to support the government. wouldn't it be better to have a rule? i think so. is anyone in authority concerned that hundreds of medium-sized banks have closed. i believe that the father of the constitution, james madison, would be distressed at the constitutional violators of the regulators, for example in cfrb and i'm answer that in a question period. xander s jefferson, hamilton and john adams would join in the protests. in is -- this is naked authoritarian government, more at home in the soviet union than in our country. finally, proffer conti-brown wants the u.s. president to have authority to fire the chairman of the froc. he would remove the reserve bank president as voting members of policy decisions and in other ways increase politicization of the fed in the interests of what he believes would be greater accountability. i don't think h

we just had the metlife case, a courageous judge looked at the government's case and found it full of opinion and devoid of facts. to support the opinion, the judge called the government's case fatally flawed because of the absence of facts to support the government. wouldn't it be better to have a rule? i think so. is anyone in authority concerned that hundreds of medium-sized banks have closed. i believe that the father of the constitution, james madison, would be distressed at the constitutional violators of -- violations of the regulators. for example in cfrb, and i'll answer that in the question period. and thomas jefferson, alexander hamilton and john adams would oin in the protests. this is naked authoritarian government, more at home in the soviet union than in our country. which purports to observe the rule of law. finally professor conti-brown wants the u.s. president to have authority to fire the chairman of the froc. he would remove the reserve bank president as voting members on policy decisions and in other ways increased politization of the fed in the interest of what h

metlife come which said they would stick with the holdings for a while, but indicated they would not pulling out of one third to two thirds of their holdings. some folks are pulling out. most people said they would consider adding to that. it will be interesting to see where the money goes. jon: the said pretty much that -- he said look at the date on the roster. he said 1970. we have heard the story again and again and again and again. does it play out the same way as it has a last three or four decades? the hedge fund industry has grown from $1.9 trillion to 2.9 trillion dollars and has had a very good run. all asset classes have had their day in the sun and their day in the shade, and this may be one of those times, a day in the shade. i cannot say the model is dead. i do not believe that. we have had periods of time when you bought 30 year u.s. government debt and regretted that. investment grade corporate 2008, equities, 2007 and they dropped 50%. there is a rotation that takes place. amanda co. i would have thought that it would be patient money, that they could take a longer v

lower profit and sales at metlife down 1%. you see what we do for you?iro has got this one. an endorsement for donald trump. >> this is the west virginia the west virginia association of endorse mrs. trump -- mr. tron. the board of directors association already has endorsed him. this is coming down the pike. he's got to rally later this evening in charleston, west virginia. this is part of the coal country. call countries behind donald trump did the obama administration has been at war since the first term. they changed all the regulation and when you hear hillary say it's cheaper to buy the cost of burning coal. of course it's cheaper. >> the german man who who runs the association will be will be if chris hamilton. he's going to be on charles payne. stuart: adam, thank you indeed. it is forest 95 then residents to leave town. this is affecting oil prices. ashley: into shutting down operations up to half a million barrels a day. we just got some late news, co. phillips says it's shutting down operations in northern alberta because of the fire. they are