Today's Top Videos: Wall Street, Buffett & More...
AIG's new CEO Edward Liddy discusses his new role at AIGwhile Dick Bove shares perspectives on what the regulation of Goldman Sachsand Morgan Stanleymeans for banks. Following are today's top videos:
The New Guy Running AIG
“I feel energized, I think I can help. I’d like to help this company recover and I’d like to help the company. So I’m really excited about the prospects. I think we’re ok with $85 billion—we’d love not to have to use all of it, and our goal is to pay it back as quickly as we can.”
—Edward Liddy, Chairman & CEO, AIG
Financial Fallout
“ Quite frankly, I don’t think anything major has happened. I hate to tell you that. First of all, these guys have been banks for a long time. Secondly, Morgan Stanley , when they brought in James Gorman, have been going after retail deposits, mortgages, small business loans for at least a year and a half …”
—Dick Bove, Analyst, Landenburg Thalmann
Market Collision
“First, you’re going to see a blame-game that’s going to cover all those who made money in the past. And you’re going to see an attempt to put ceilings—that’s not the right answer. What we need is what we call “clawbacks,” which is when you make money in the first year, you only get part of it…”
—Mohamed El-Erian, co-CEO & co-CIO, Pimco
Buffett an Early Victim
“We’ve talked about this government bailout plan and obviously that plan is still being worked out. Already though, it is taking criticism on plenty of fronts. Today, it is winning support, as you’ve heard Mohamed El-Erian also talking about how he supports this plan. But it’s also getting support from one of the most watched investors—Warren Buffett.”
—Becky Quick, CNBC Business News
