and that was reinforced by timothy geithner.t again obama picked timothy geithner who was notorious as the worst failed regulator in the united states of america in the field. >> why do you think on any evidence you have that they didn't want to fix the problem? >> because two things. one, they were wrapped into this insanity that timothy geithner and ben bernanke were pushing that said, we must not do anything negative about the banks. we must instead "foam the runways," is the infamous phrase of timothy geithner. >> to make a soft, safe landing. >> for the banks. >> for the banks. >> not for the people. we will use the people as the excuse to get these programs. but the programs we all know are really for the banks. >> you do acknowledge that there have been some big settlements, i mean, and not all of them by holder, but there've been settlements of over, you know, 125 or more billion dollars so far. >> most of the money is actually deals they would've cut anyway. and it's window dressing, but it's in the interests of both th

it is interesting to see timothy geithner on the stage.not nervous, but not the most cooperative witness. he was asked about hank greenberg, the reason by the lawsuit. he was the largest shareholder. timothy geithner said he had a complicated regard and he paused for two or three seconds before he weighed in with that answer. >> has he been a reluctant witness in general? >> he has not been reluctant but not the most cooperative. for someone who is an intimate heyer in these negotiations, helped set the interest rate on the loan itself. he helped set the term or it. a lot of these were directly a result of timothy geithner's actions. along with others. but he was one of the key players. he has not remembered everything. to a large extent, he backed up the government's case and in areas where david is trying to wentthe government overboard to punish aig and specifically not to give shareholders a chance to vote on the deal, timothy geithner again has not recalled every single aspect of those negotiations. >> thank you. peter will keep us po

point, sections of timothy geithner's book have been pointed to, and timothy geithner said it looks like you are quoting my book and those are my words and i believe those things. it seemed like a challenge, but what he wrote is truly what he believes. >> is hank greenberg there for the trial? >> he is not there or at least over theot seen him first week of testimony and so far this week or you can be sure he has his representatives in the room, besides david boyd and the extensive legal team making the case for him. >> peter cook, thank you. health officials in spain have placed three more people under quarantine for ebola. this is at the same madrid hospital where a spanish nurse became infected. it is the first case of ebola transmitted outside of north africa. the nurse cared for a spanish priest to that of the virus. more than 50 other possible contacts are being monitored. among those quarantined is the nurse's husband he shows no signs of having the disease. officials describe his hospitalization as a precaution. ebola is on the only threat to our health as a nation. enterovirus d

timothy geithner today in court aig failg that letting instead of nailing it out might have caused mass -- failing ve causedght ha mass panic. ♪ >> if you have ever played fantasies boards, you have a lot of company. there are 40 2 million people participating in north america. that is according to the fantasy sports trade association. the economic effect could be as high as $4 billion, and there is a growing trend in the industry called daily fantasy sports. one of the leaders is draft kings. joining us now from boston is the company's chief executive, and here with me in new york is a former nba player antoine walker. what exactly is draft kings, how does it all work? >> thank you for having me. it is a fantasy sports website where the games last just one day. example, this football weekend you would go we in and you would look at the players and you would pick them only for the games that you are playing in today. you can go and play for free, or an amount of money, and you can win anywhere up to $1 million. we had a game last week where you could play for $27, and if you win you got

you had lunch with timothy geithner. >> i did. >> was that the first time you had lunch with him?the only time i had lunch with him. they met with me when they signed the deal that gave them 92% ownership of aig. the question was, how are we going to sell all the shares? they had lunch with me -- or saw me at the end of 2012, that would have been more meaningful. >> why? >> they should have said, what we put the people of aig through was horrific. i want you to say on my behalf that we appreciate their hard work and that it is incredible what they have accomplished. and to not only pay us back, not only give us a $23 billion profit -- $22.7 billion, but you've kept all these americans employed or you kept them as effective citizens of our country. and we thank you for that. >> they never said that. >> they never said that. >> it almost sounds like you were looking for an apology. >> i think people should recognize they did a great job under the worst of conditions. >> today, aig is a slimmed-down version of itself, and profitable. but does it still pose a threat to the financial s

former fed chief ben bernanke and with the gardener are also scheduled to testify -- timothy geithner are also scheduled to testify this week. the nba steals a page from the nfl playbook cashing in big time to broadcast games. espnew contracts will give and tnt rights to nba games through 2025. it only cost them $24 billion. espn skipper told us the price tag is worth it. >> we have that for a long time on live sports. it has done nothing but appreciate in value. there is no reason to think that is going to change. >> the nba regular season begins october 28 on tnt. tonight, my guest is singer-songwriter, and musical megastar melissa etheridge. >> what did we ever know at 23? about what we really wanted. has been putting out hits since 1988. only now does she feel she is in control of her music. >> this is my brand-new, me in charge of him i am putting out -- album i am putting out. >> i begin with health threats to the united states, particularly the vulnerability to viruses. president obama addressed the situation today. >> i consider this a top national security priority. this is n

. >>> former new york fed president and treasury secretary timothy geithner took the stand today in the aig bailout trial. geithner defended the tough terms of the insurance giant's rescue, saying it was necessary to get congress and the public to back the deal. mary thompson joins us from outside the federal claims court in washington, d.c., with more. mary, tell us what happened today. >> reporter: well, geithner was on the stand for six hours during which he acknowledged he was the one who decided on those high interest growths that were charged to aig as part of the $182 billion bailout of the insurance giant. geithner did prove to be a tough witness, though. his answers to most of the questions that were posed by the lead-'s attorney, david boies, i don't know, i don't recall, i don't recall precisely. it was a long day of questioning. now, boies is trying to prove that aig shareholders were treated unfairly because of very high rates they had to pay on loans. rates were far higher than other troubled financial firms during the crisis. the suit also acknowledging that the governmen

paulson's successor timothy geithner who ran the new york federal reserve at the time is the next key witness to take the stand followed by ben bernanke on wednesday and thursday morning. in washington, d.c., i'm mary thompson, for "nightly business report." >>> walmart will soon be helping customers choose a health insurance plan. the world's biggest retailer is teaming up with directhealth.com to put agents inside walmart stores to help shoppers compare various private insurance plans as well as medicare and medicaid. the goal is to help them pick one that best suits their needs and their budget. >>> we begin tonight's market focus with an update on the ebola crisis. the food and drug administration has now authorized an experimental drug made by a company called chimerix for use as an emergency treatment against the virus. that drug is being used to street thomas duncan, the man hospitalized in dallas with ebola. shares of chimerix continue to rise throughout the day as word got out about this. it finished up about 4 1/2% at $41.47. h & r block's plans to sell its banking business

liz: professor, did you see timothy geithner, former treasury secretary, did you see what he said. >>e had to tell me. liz: he said if aig had not been bailed out it would have caused a massive global emplosion, way more damaging than lehman brothers. hank greenberg told you had he been given the chance he would have amassed money, whether from southern france or chinese money, you know how good a friends he is with the chinese government. he could have done thissar aig and used aig as a sieve and that it was outright unfair. >> whether or not it was unfair, one of the worst financial panics. a panic with a possibility of producing a worse outcome than the crash of 1929. what the government really knew is they couldn't restore the economy without saving the major banks. no one can save an insurance company that is often in a different sector. unless banks start lending and you had to bail them out by any means necessary in order to get lending and business moving again. that's the rationale and it's the classic rationale that central banks used for 130 years. make money available in a

telling you, that's their depositions which are sealed -- they don't want you to seal them -- liz: timothy geithner tomorrow. charlie, thank you cell phone. and not to worry, anything that happens, you get it. technology onboard what's being called the world's first smart ship. royal caribbean's quantum of the seas. well, heck, if they can get total wi-fi on that thing, why can't we get it at 57th and the west side highway? >> gosh darn. liz: golly dang it. billions of people. this one company -- not the cruise ship company, but the company that outfitted that ship with all kinds of wi-fi capability is with us. it's a google-backed technology, o3b network ceo joining us in a fox business exclusive. >> oh, fudge. liz: oh, fudge. shut the front door. and the nba calling -- [laughter] >> i thought you were going to say it. liz: i knew you did the nba calling its new tv rights agreement extraordinary. healthy deal family but who, ultimately, pays the price? we ask an all-star panel about the big bucks of mega tv rights coming up. ♪ ♪ ♪ she inspires you. no question about that. but your erectile dysfunc

i will tell you what i also heard, afterwards timothy geithner called him that's why i didn't pay myem is clearly unfair. that's what he told them. >> shocking part, he gets paid $250,000 to talk. you heard him talk, right? melissa: yeah. >> maybe -- melissa: i don't know. >> i imagine yellen -- melissa: that is right. he is one slow talker. >> when about when janet yellen goes on speaking circuit. she will make half a million. melissa: i don't know. it says a lot. >> can we say, don't want to jump on jack's serious bandwagon, the pendulum has swung back. the a lot of people are watching very frustrated i can't get a small business loan or house and i deserve it and done what i'm supposed to do. melissa: i saw an article that banks are lending again. everybody can stop with the story how they're not lending. boom you see ben bernanke can't get a loan. >> lending to businesses, not individuals. melissa: unemployment rate finally making strides after six years. good luck telling folks not exactly participating. and as one of bravo's most notorious housewives heads to the slammer, could

. >> woodruff: and former treasury secretary timothy geithner appeared in federal court in washington to defend the bailout of a.i.g. the government gave the insurance giant an $85 billion loan in 2008. geithner testified today it was necessary to save the financial system. a lawsuit by a.i.g.'s former top executive charges the deal cheated shareholders. >> woodruff: still to come on the newshour: women and children in the grips of islamic state militants; do muslim inmates have the right to grow beards in u.s. prisons? a nobel prize in physics for improving the light bulb; how voice-controlled phones distract drivers; a portrait best viewed from the sky; and, senator kirsten gillibrand's call for more women to get involved in public life. >> ifill: we return now to the islamic state group, and its brutal tactics. much is known now about the group, also known as isil, and its high profile beheadings of westerners, mass executions of civilians and forced conversions. less well known is the extremist group's horrific treatment of women and girls. last week the united nations reported th

. >> secretary timothy geithner, president of the federal reserve bank when iag chaps aed, he spint moreve hours on the witness stand and he did testify that, yes, he once said the failure of the insurance giant would have, quote, catastrophic consequences and the government rescue wiped out the company's shareholders. in a class action lawsuit, some of those shareholders alleged the 2008 government rescue cheated shareholderses out of an estimated $40 billion. now, geithner spent most of the day sparring with attorney david bo boyce representing those shareholders. most of geithner's answers were i don't recall, i don't recall precisely or i don't know. it's all part of the strategy on the other side proving that aig was being treated unfairly and illegally by the government. that government bailout ultimately swelled to nearly $185 million, with the government taking a 92% stake in the insurance giant. aig, of course, has fully repaid the money since then. geithner is expected to be back on the stand tomorrow. that will now push back the timetable for testimony from former federal rese