Tiger Woods discusses getting into real estate in the current market, how he feels about Obama's election and the survival of his sport in tough economic times, while American International Group's CEO comments on the company's loss of $24 billion in the third quarter and the government's bailout package. Following are today's top videos:
Tiger Woods’ Golf Course
“[The economic crisis] is going to be a difficult thing—I don’t know if some of the tournaments will be changed or go away, or when we’ll have new sponsors come in…From a golfing standpoint, I hope that more kids will be able to start and will continue playing. During times like these, it will not only be difficult to bring them in, but to keep them in.”
—Tiger Woods, Professional Golfer
Seeing a Deeper Recession
“The 1.4 trillion number is also in line with what the IMF is saying for the total impact of the credit crisis and I think that is obviously a major driver of what we’re seeing in the real economy and as you said, we downgraded our numbers a bit further on Friday…”
—Jan Hatzius, Chief U.S. Economist, Goldman Sachs
AIG CEO On Bailout
“I think the new package is a quantum improvement over the old one. The old one has some terms associated with the loan that we’re almost punitive in nature. This one is an equity investment, a loan that’s much more advantageous to us and I think it reflects the Treasury and Fed’s new way of thinking about the global financial crisis.”
—Edward Liddy, CEO, AIG
The New Economy
“I think the car industry is more important [than AIG at this point]. It’s clear that Ford , Chrysler and GMcould go bankrupt by next year—they’re running out of cash and I think it’s a difficult choice because if we start bailing out not just financial firms, but also automakers, then what about airlines and a whole bunch of other firms? But I think that there’s a crucial role of the auto industry in the economy.”
—Nouriel Roubini, Professor, NYU Stern School of Business
Stop Trading, Listen to Cramer!
“I really don’t want to trade on the commodities—[China’s] still cutting back on the commodities. To me, infrastructure means one thing—whether it be United States or China—and that’s Caterpillar…When I hear stimulus, I hear building. And when I hear building, that means CAT."
—Jim Cramer, CNBC's Mad Money
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