glenn ecowas founded by tim geithner is -- glenn at go, maryland -- glenn at echo, maryland. glen echo was founded by an brothers. -- 20 brothers. they bought 516 acres of land. their idea was that it could be a vacation retreat for people that lived in washington city during the year and wanted to get away from the city in the summer. you could enjoy the woods, they were lovely. the potomac river down the hill from this house today. once these brothers built glen echo, they advertised in magazines, in newspapers. they tried to bring attention to this new place on the map they thought of famous people that might come here and bring prestige and bring notice clara barton was famous for her civil war work of 30 years before this. she was known as the angel of the battlefield and she was known for the american red cross. they offered to give for this land for free and to build her a building for free if she would come to glen echo and make this a center for her organization. it was an attractive opportunity to have a big building that would serve the american red cross. it was w

in 2009, then treasury secretary tim geithner told meet the press that he wanted aig just successfulugh so the taxpayer can get out. benmosche had different plans. he was going to revive the company and pay the taxpayer back. did you ever think you might not? >> no, i did not think i could not get it done. when i looked at everything, i could see that i could pay it back, and then what i said was, in september of 2009, i think what you are going to be left with is a $70 billion company. so if you have $70 billion as your margin of error, there is no doubt. >> that was your back of the envelope. >> that was my back of the envelope calculation. i was wrong. it is $100 billion. and our market cap is almost $80 billion. >> when aig finally paid back the american taxpayers in 2012 with nearly a $23 billion profit, the company took out ads thanking the american people. >> thank you, america. >> thank you, america. >> but benmosche felt the thank yous to him from government officials fell short. you had lunch with timothy geithner. >> i did. >> was that the first time you had lunch with him

. >> can i add a tiny bit economically in 2008, the transition with larry summers tim geithner and thehole original economic team was trying to figure out what the right this goal goal would be and economically the decision was the right goal was to make sure the that was falling which require the deficit being below that 3% of gdp and that is a goal we achieved in 2014 and a goal we need to take additional steps on taxes, health care and immigration to make sure we continue to meet that goal over the next decade and beyond. it is consistent with what economics would tell you that you need to do. >> the 3% target was also the one advocated by the minor deities that served on the simpson volt condition. while it included the administration -- wisdom of the obama economic team it also included the stamp of approval from that bipartisan committee. the president has also been clear that his approach in dealing with the debt and deficit is that we are not going to ask the elderly and working families to bear the brunt of improving our fiscal situation. that there are a variety of steps we c

. >> can i add a tiny bit economically, in 2008, the transition with larry summers, tim geithner, christy roamer peter orszag, the whole original economic team, was trying to figure out what the right fiscal goal was going to be. and economically the decision was the right fiscal goal was to make sure the debt was falling as a share of the economy, which would require the deficit being below about 3% of gdp. that's a goal we achieved in 2014. that's a goal we need to take additional steps on taxes, on health care, and on immigration, in order to make sure we continue to meet that goal over the next decade and beyond. but it's one that's very consistent with what economics would tell you you need to do to be in a sustainable and strong position to grow economically. >> let me just add to that that the 3% target was also the one advocated by the minor deities that served on the simpson-bowles commission. it's worth pointing out while it certainly included the wisdom of the obama economic team it also included the stamp of approval from that bipartisan commission. two other points that are a