what if hank greenberg wins this lawsuit. does that open up to shareholder lawsuits who will say they lost out on that payout and hank greenberg just one? >> that's a possibility. we made a conscious decision that says that the probability of that happening, the cost of the company's reputation now to proceed would not be in the shareholder's best interest, and i believe the shareholders will be better off by the company doing bert over time and not faced with all these headwinds of reputation in the past. the past will bring us down and if we continue to grow this company successfully and get the morale to improve and do the right things for our customers, i think the shareholders will be better off so that's really the conclusion of the probability of success. how much of that would go to the existing -- the shareholders at the time versus the existing company. i think in the end we made a good trade, and the trade is on for the credibility of the company and going forward. it's not acceptable socially for aig to have taken

hank greenberg, you interviewed him on fox business. he is essentially saying, look, this turned into a backdoor bailout for other wall street companies. we have a right to sue based on fifth amendment rights. the government is not allowed to take private property for public interest. here is what he said on fox business. >> as far as i'm concerned that bailout should never have taken place. the way it did take place was wrong. aig was used as a backdoor bailout for many others. >> reporter: and those many others include sachs and others. they are saying they did have a choice and that was bankruptcy. aig is saying it may decide by the end of the month to whether or not to join the lawsuit filed by hank greenberg. it's saying it has to hear out on his lawsuit, that is the if i deesh year duty and it might have other lawsuits. >> neil: what wall street is seeing a trend, you bail and you get better get ready for hell? >> let's take stock where aig is. record amounts plot of built in the last couple of quarters. revenues are up big time.

hank greenberg. >> jon: noo! hank greenberg! all right not necessarily jewish. he could have changed his name from stuart. [ laughter ] by the way, i've never seen a man closer to saying the words release the hounds. [ laughter ] interesting side note, maurice hank greenberg is not only suing the u.s. government for so rudely saving his company, he is also attacking them in a new book set to be punished january 29. it's the exact same day that i'm releasing my book which is is called "don't buy maurice greenberg's (bleep) book." if you buy only one book this year about the stupidity of a book make it" don't buy maurice greenberg's (bleep) book." >> it's a ludicrous argument. >> talk about the hand that feeds you. >> they had a choice. they could have gone bankrupt they took our cash. >> i was stunned about. this i think it's crazy. >> jon: let's rein it in here. what aig shareholders are doing is objectively all of, but shock, surprising? aig, they put the a in (bleep). [ laughter ] don't you remember what happened right after we gave them the bailout money in 2

a lawsuit started by hank greenberg. disgraced former ceo of aig who was forced out by the board in 2005 after allegations of fraud and who is currently suing the u.s. government on behalf of aig shareholders for $25 billion. their claim, that the terms of the free bailout money they received were unfair. not enough of the free money benefited the shareholders who would have had nothing had the government not bailed them out. and just allowed them to declare bankruptcy. instead, the taxpayer money was used to pay the wall street clients who held policies with aig, the ones they made promises but couldn't keep. so that very same aig that only exists today because you and me, we the people, the taxpayers gave them $182 billion in a bailout, is now suing us because their shareholders missed out on additional profits to. quote senator elizabeth warren... >> john: this would be like the french suing because we left a few divots in the sand at arm andy. joining us is ceo of better markets, dennis kelleher. good evening. thank

hank greenberg who is the c.e.o. who's the sort of chess player behind this lawsuit so yeah i worked. for a few years and got along quite well there actually so what's your initial reaction of the story. first of all this goes back to a suit that greenberg filed about a year ago because he was forced to step down by eliot spitzer over some allegation accounting allegations but he filed he still owns a lot of stock and he filed a lawsuit about a year ago and my first reaction was i just couldn't stop laughing because here is you know one of the toughest guys described as the meanest boss of in america by forbes magazine i think any filed a lawsuit that said that the government and the federal reserve use this as an opportunity to bail out their friends on wall street like goldman sachs so my first reaction was to laugh and say oh hanks joined the ninety nine percent and how much what he's done is actually very shrewd because he's place the board of a.i.g. in a very difficult position where if they don't consider joini

hank greenberg who is the c.e.o. who's the sort of chess player behind this lawsuit so yeah i worked. for a few years and got along quite well there actually so what's your initial reaction of the story. first of all this goes back to a suit that greenberg filed about a year ago because he was forced to step down by eliot spitzer over some allegation accounting allegations but he filed he still owns a lot of stock and he filed a lawsuit about a year ago and my first reaction was i just couldn't stop laughing because here is you know one of the toughest guys described as the meanest boss of in america by forbes magazine i think any filed a lawsuit that said that the government and the federal reserve use this as an opportunity to bail out their friends on wall street like goldman sachs so my first reaction was to laugh and say oh hanks join the ninety nine percent now but what he's done is actually very shrewd because he's place the board of a i j in a very difficult position where if they don't consider joining and h

remember that greenberg i believe is 85 years old. he used to run the company. he believes that the government rescued the entire financial system by bailing out aig. because of that the company was abused and misused for government purposes and that is illegal under the constitution. you are forecast at me but this is their point. >> shep: had the government not bailed the company out the company would have collapsed and financial system might have, as well. >> that is what the federal reserve said yesterday. the other option was bankruptcy. >> shep: he is also 85. >> i'm sure he is coherent. >> he hasn't sued anyone lately, i think he should. pick a target. [ laughter ] >> shep: i'll meet you on the island. >> this is going nowhere. people are so angry. the board wouldn't touch this. >> shep: height of arrogance, really. thank you, gerri. >> the suspect in the colorado movie massacre staked out the theater taking pictures on his phone. that is just the beginning of the disturbing photos they showed in court. we'll get you details. word that the president could

does hank greenberg's argument have validity? >> look, this has worked its way through the judicial process already, through the judicial system. hank greenberg -- this lawsuit was thrown out by one court. it was then appealed to another court, and the second court has said you have to go to the board and see if they want in on this. it's a serious case. david boies, who we know is representing the shareholders, they sequestered -- they requested 16 million documents. they've since reduced that to about 10 million. but they're trying to determine the relationship that the united states treasury had with aig to see whether they knew of what was going on beforehand going all the way back to 2005. so it's not a penny ante lawsuit. it's -- >> could aig have not taken the lifeline? >> no. no. if aig didn't take the lifeline, aig would have gone under. and the consequence of aig going under is that aig insures every airplane you ever fly on. they insure every business that takes place in the world. this would have really brought the pl

. >> next hour, hank greenberg, former ceo of aig. >> numbers from amazon as soon as they hit the tape as well. so what scares you out there? everybody says the market is overbought. yeah, so. sentiment is still good. what scares you? >> you know, the market may be overbought, but there's still more room on the upside. i think it's going to be a very, very narrow trading range. i don't think there's a high risk to put in your money now. i don't know if the return is -- you may have looked at a 20% return, you know in, september of last year. now we might be looking at a 5%, 10% return. risks are now muted. i don't real very any fears. i don't see anything on the horizon. >> how long can the market continue to go up if apple doesn't participate at all? >> still the market is going to go up. apple is a big nasdaq number, but as far as the s&p, it's not in the dow. s&p 500 stock but that's well weighted for everybody, so i don't think it's that big a deal. >> all right. there's the bell, peter. thank you. amazon numbers out momentarily. maria and our expert team will break them all down f

hank greenberg. >> i'm going to be on herbalife in about 30 minutes, too. >> a lot of greenbergs. >> the issue, really, is not whether the company should or should not have gone bankrupt. the issue is whether, when the government makes one of these loans, it seine titled to take over the equity of the company. and that's what the court in washington has held the government's not entitled to do. remember the government has admitted that this loan was fully secured. the government said so at the time, and the government has admitted in this lawsuit that the loan was fully secured. the taxpayers were never at risk. in addition, the initial interest rate was an eye-popping 14.5%. the highest interest rate the government has ever changed anybody for a loan. >> it's also the most money the government has ever given anyone for a loan. >> it is. it is. and as a result they got a very high interest rate, and they got a huge amount of security. that is the security matched the amount of the loan. more than matched the amount of the loan, as the government has repeatedly said. >> david, i won't

aig is meeting with greenberg tomorrow to decide if they will join in on the suit. it would be ridiculous for them to join in considering that they are doing just fine. because since 2008, the government loan, aig has posted a profit of over $26 billion. and on top of the money, aig has been touting its great relationship with the government. with this advertising blitz, they're actually thanking the american people for saving them. >> aig, we said we were going to turn it around, and we did. >> leading insurance company based right here in america. >> we have repaid every dollar america lent to us. >> everything, plus a profit of more than 22 billion. >> for the mesh people. >> thank you, america. >> aig played a major role in taking our country into the great recession. the taxpayers saved aig. the ripple effect would have been unbelievable. and now for aig to think about suing the federal government is beyond disgraceful. for more, let's turn to my friend bill cohan. he is the columnist for "bloomberg view" and author of "money and power." okay. let's play a word

hank greenberg -- this lawsuit was thrown out by one court. it was then appealed to another court, and the second court has said, you have to go to the board and see if they want in on this. it's a serious case. david boies, who we know is representing the shareholders. they sequestered -- they requested 16 million documents. they've since reduced that to about 10 million. but they're trying to determine the relationship that the united states treasury had with aig to see if they knew of what was going on beforehand. >> could aig have not taken the lifeline? >> no. if aig didn't take the lifeline, aig would have gone under. and the consequence of aig going under is that aig insures every airplane you ever fly on, every business that takes place in the entire world. this would have really brought the planet to a stop. so everybody who agreed say, let's hold our noses and give aig this bailout. >> so they were forced into an onerous loan? >> they would have been bankrupt and there would have been a different kind of lawsuit. it's such a ludicrou

greenberg, the former ceo. >> this is a longstanding dispute between the former ceo of aig, hank greenberg, and the government. if you actually read greenberg's sue, there are some points that have a little validity. it is a preposterous that greenberg, who in a way was, like a patient zero of the financial crisis because the scandal he started at aig back in the early 2000's, where he was artificially inflating the balance sheet of aig, that led to a downgrade of aig which led to the catastrophe of 2008 when the company employed it. that subsequently caused the entire financial crisis. you can really point to hank greenberg as maybe the guy who cause the financial crisis and here he is suing the american government over the bailout. one thing he says in the lawsuits, the bailout of aig was not really a bailout of aig but the companies that were owed money by aig because they give 100 cents on the dollars to all of the counterparties aig bac goldman sachs and deutsche bank and barclays. and if he were in a position, he would have negotiated a much tougher deal. that is probably true. there

aig is meeting with greenberg tomorrow to decide if they will join in on the suit. it would be ridiculous for them to join in considering that they are doing just fine. because since 2008, the government loan, aig has posted a profit of over $26 billion. and on top of the money, aig has been touting its great relationship with the government. with this advertising blitz, they're actually thanking the american people for saving them. >> aig, we said we were going to turn it around, and we did. >> leading insurance company based right here in america. >> we have repaid every dollar america lent to us. >> everything, plus a profit of more than 22 billion. >> for the american people. >> thank you, america. >> aig played a major role in taking our country into the great recession. the taxpayers saved aig. the ripple effect would have been unbelievable. and now for aig to think about suing the federal government is beyond disgraceful. for more, let's turn to my friend bill cohan. he is the columnist for "bloomberg view" and author of "money and power." okay. let's play a

hank greenberg -- this lawsuit was thrown out by one court. it was then appealed to another court, and the second court has said, you have to go to the board and see if they want in on this. it's a serious case. david boies, who we know is representing the shareholders. they sequestered -- they requested 16 million documents. they've since reduced that to about 10 million. but they're trying to determine the relationship that the united states treasury had with aig o to see if they knew of what was going on beforehand. >> could aig have not taken the lifeline? >> no. if aig didn't take the lifeline, aig would have gone under. and the consequence of aig going under is that aig insures every airplane you ever fly on, every business that takes place in the entire world. this would have really brought the planet to a stop. so everybody who agreed say, let's hold our noses and give aig this bailout. >> so they were forced into an onerous loan? >> they would have been bankrupt and there would have been a different kind of lawsuit. it's such a ludicr

greenberg, the former ceo. >> this is a longstanding dispute between the former ceo of aig, hank greenberg, and the government. if you actually read greenberg's sue, there are some points that have a little validity. it is a preposterous that greenberg, who in a way was, like a patient zero of the financial crisis because the scandal he started at aig back in the early 2000's, where he was artificially inflating the balance sheet of aig, that led to a downgrade of aig which led to the catastropat of 2008 when the company employed it. that subsequently caused the entire financial crisis. you can really point to hank greenberg as maybe the guy who cause the financial crisis and here he is suing the american government over the bailout. one thing he says in the lawsuits, the bailout of aig was not really a bailout of aig but the companies that were owed money by aig because they give 100 cents on the dollars to all of the counterparties aig bac goldman sachs and deutsche bank and barclays. and if he were in a position, he would have negotiated a much tougher deal. that is probably true. there

herb greenberg has been all over it. we'll hear from him a little bit later. meantime, walmart, the nation's largest gun retailer heading to washington to meet with the vice president about gun control, but only after some reluctance. our eamon javers is in d.c. with the very latest. why the turnaround? >> hi, scott. let me bring you up to date on what happened so far today. there was an emotional meeting at the white house today led by vice president joe biden as victims of gun assaults and leaders of the brady campaign on gun violence met with the vice president at the white house to lay out what they think ought to happen here. the vice president saying that he thinks that the administration is going to move very quickly in the wake of the newtown school shooting. take a listen. >> every once in a while there's something that awakens the conscience of a country, and that tragic event did it in a way like nothing i've seen in my career. so we're here today with you as it requires immediate reaction. >> that's the emotional backdrop. the nra is going to the w

aig is meeting with greenberg tomorrow to decide if they will join in on the suit. it would be ridiculous for them to join in considering that they are doing just fine. because since 2008, the government loan, aig has posted a profit of over $26 billion. and on top of the money, aig has been touting its great relationship with the government. with this advertising blitz, they're actually thanking the american people for saving them. >> aig, we said we were going to turn it around, and we did. >> leading insurance company based right here in america. >> we have repaid every dollar america lent to us. >> everything, plus a profit of more than 22 billion. >> for the mesh people. >> thank you, america. >> aig played a major role in taking our country into the great recession. the taxpayers saved aig. the ripple effect would have been unbelievable. and now for aig to think about suing the federal government is beyond disgraceful. for more, let's turn to my friend bill cohen. he is the columnist for bloomberg view and author of "money and power." okay. let's play a word g

hank greenberg says, wait a second, there is more to this story. telling our very own neil cavuto this turned into a back door bailout for wall street. take a listen to what hank greenberg told neil cavuto. >> as far as i'm concerned that bailout should have never taken place. >> really. >> the way it did take place was wrong. aig was used as a bailout, as a back door bailout for many others. >> what he is referring to there is goldman sachs, deutsche bank and societe generale. aig's board, telling fox business it is the board's fiduciary duty to consider hank greenbergs lawsuit. melissa: they have to consider it. doesn't mean think will join in. this is hank greenberg who has been disgruntled for a long time. it is important to separate this out. >> they have to hear him out because it could expose the board to more shareholder lawsuits. there are no merit to the allegations that aig had alternative bankruptcy. melissa: emac, thanks so much for that report. it is quarter to. as we do every 15 minutes let's check the markets. nicole petallides is o

lori: what does it do to greenberg's case then? does it diminish it? >> i like hank greenberg. i've known him a long time. he is a decent guy. he is a tough guy. he is great american. guy fought in world war ii and i believe korea as well. lori: does he have a case. ashley: judge napolitano says absolutely. >> maybe he does but why does a public company have to join? we talked about jack lew. i can not. we have to go for this. take a look at the signature that will be on the new dollar bill, new treasury secretary's signature. do we have it? ashley: there it is. look at that. >> you know. ashley: oh, boy. >> she just said it all. the other thing i was going to say, alexander hamilton has to be rolling in his grave with that signature. ashley: look at that. lori: loop de loop. >> ever seen my hand writing? better than that what. ashley: charlie gasparino, as always thanks so much, charlie. high taxes are forcing high-tech company to hoard billions of dollars overseas, investments that could be used here in the u.s. liz macdonald is digging into the numbers and joins us ahead. lo

they aren't necessarily because the original lawsuit was brought by hank greenberg, who is no longer the ceo of the company. explain that to us. >> sure. so hank greenberg, who leads starr international, the plaintiff who is prosecuting this derivative lawsuit now, is prosecuting a lawsuit, one was in new york. that got thrown out. now there is one left in d.c. here in federal court, for $25 billion, saying that when the company came in and saved everybody's life and everybody's jobs it did it inadequately without fair due process and adequate compensation. there is a board meeting with where starr and hank greenberg advocates the board to intervene and jump into the case and some individuals from the government saying don't do that, that's crazy. melissa: do they have a case? point that he makes as crazy as this whole thing sounds on its face the point that he makes sort of resonates that aig was used as a back door way for the company to bail out kinds of other companies because there were so many other companies that would have gone down if aig went down. that this is sort of thei

here is hank greenberg on that end. take a listen. >> as far as i'm concerned that bailout never should have taken place. and the way it did take place was wrong. aig was used as a bailout, as a back door bailout for many others. >> reporter: those many other the board has to take up considering whether or not to join its lawsuit. it's telling fox business it will do so. it could face other share older lawsuits without even considering whether to join the suits. take a look at what the new york fed is telling fox business about the merit of this lawsuit. they are saying there is actually no merit to the allegations. aig's board had an alternative choice, bankruptcy and the federal reserve's action helped restore. they will be deciding whether or not to join hank greenberg's lawsuit against the government. jon: they may have a point. you convinced me. thank jew jon i'm sure you remember 20,000 leagues under the sea, who can nor get that, right? ha look at the real life wreath that you are might have inspired what we've t

. >> reporter: we went shopping with consumer advocate sally greenberg, who showed us there is really very little for consumers to go on when looking on the shelves for fake food. here's extra virgin olive oil. we're not going to show the brand. but this extra virgin olive oil is $5.50. that's pretty cheap for extra virgin olive oil. >> and something that should raise some eyebrows for consumers. >> reporter: greenberg says consumers need a cop on the beat, and since the fda can't test everything, they should be looking at the usp data base and targeting the foods most often faked. both the fda and grocery manufacturers association tell abc news they take the new findings seriously and monitor grocery aisles for food fraud. it shouldn't be hard to find, high school students supervised by new york's rockefeller university found alarming results in testing done over the last three years. 16% of the grocery store food they dna tested from expensive sheep's milk cheese that had only cow dna in it, to caviar that wasn't made of sturgeon eggs, all had counterfeit ingredients. something supp

greenberg lost a lot of money aas aig's value plummeted. hank greenberg and several other shareholders of aig brought the lawsuit in 2011, against the federal government, claiming the terms of the loan were unfairly harsh and aig now run by a new management team and a new ceo has a fiduciary responsibility to its shareholders to look at the lawsuit and decide if they will join it. joining the lawsuit would be a funny way to thank taxpayers for the loan. most people think aig simply won't do it. on the money menu, ten banks accused of hurting home owners while foreclosing on their homes agreed to pay out to settle claims against them. the banks include bank of america, citibank, wells fargo, and others. this is how the settlement breaks down. $3.3 billion in direct payments to borrowers, another $5.2 billion to modify loans. or take other measures 3.8 million borrowers will get cash under the agreement. on another story, boeing's new 787 dreamliner is looking more like a nightmare. in the latest in a string of mechanical glitches, today a ja

greenberg read like they were in an oliver stone movie. it's pretty clear that look, the board of directors had an obligation to act on behalf of the company and the shareholders but they were within their power, it would seem, to say that the shareholders would benefit from the bailout as opposed to the nuclear explosion. >> one final point. is this going to open up the door to newly sworn in senator elizabeth warren? >> not my favorite senator. >> she's on the banking committee. >> she will have a field day with this. >> she said the government provides an ongoing stealth bailout to aig with special tax breaks. so aig, even if they don't join the suit, and they're saying thank you and paid everything back with interest, they're now suddenly in the spotlight again. does this mean elizabeth warren is going to get a green light? >> i don't know what special interest tax break she's talking about. i don't like corporate loopholes any more than anybody, as we talked about last night. we'll see if they're there. this is going to be a very diff

hank greenberg filed suit on behalf of shareholders asking for $25 billion in damages. he alleges the terms of the bailout were too harsh, including 14.5% interest on its initial loan. but columbia law professor jack coffee does not think the suit will be successful: >> i think its a longshot suit, he has alleged very specific facts, that the federal government was seeking to take over a.i.g. and run it for the best interest of others and not its shareholders, but it is very, very rare that a federal court will allow a derivative action to proceed against third parties. >> reporter: a.i.g. was legally obligated to consider joining the suit. but today's board meeting comes on the heels of a new high- profile compaign, in which a.i.g. expresses gratitude for the bailout. >> thank you america. thank you america. thank you for the freedom to ensure a brighter future. >> reporter: and that's what the public wanted to hear all along. erika miller, "n.b.r.," new york. >> susie: robert doll, chief equity strategist of nuveen asset management says he's "moderately positive" on t

what is interesting, the former aig chief hank greenberg said, wait a second. we have fifth amendment rights. starr international is a investor in aig. he says they took private property for public use. this became a back door bailout for goldman sachs. ashley: that's right. >> and for deutsche bank and societe generale. ashley: the interest rate for aig a lot higher than -- >> new york fed by the way saying there is no merit to the allegations. aig had alternative choice, bankruptcy. big fight going on. sandra: it continues. liz macdonald we'll continue to follow that story. ashley: thank you, emac. mcdonald's getting a name change. sandra: huh? ashley: we'll tell you where. in a minute, bruce. good day. ♪ . music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people lo

gregg greenberg from "the street" reports. >> reporter: computer geek rarely hooks up with runway chic. but the latest buzz in the fashion industry, wearable technology, could change that. and wall street is taking notice of what's currently a billion dollar industry and could soon rock the retail world. >> longer term there is no reason by the end of the decade it's not tens of billions of dollars and eventually hundreds of billions of dollars because you are talking watches, bracelets, glasses, clothing and lot of things you can't even think about today. >> reporter: white believes the big winners-- at least in the short term-- will be apple, google, microsoft and samsung. and what will start with wired watches and glasses will eventually blossom into a world wide web of t-shirts, blouses and sweaters. >> it depends on how thin and light you want to make this. companies like i.b.m. are working on some flexible substrates that will really allow for the creation of wearable electronics. clothing. >> reporter: that's not all i.b.m. is working on. futurist trevor davis says the tech gian

hank greenberg filed suit on behalf of shareholders asking for $25 billion in damages. he alleges the terms of the bailout wereoo har, including 14.5% interest on its initial loan. but columbia law professor jack coffee does not think the suit will be successful: >> i think its a longshot suit, he has alleged very specific facts, that the federal government was seeking to take over a.i.g. and run it for the best interest of others and not its shareholders, but it is very, very rare that a federal court will allow a derivative action to proceed against third parties. >> reporter: a.i.g. was legally obligated to consider joining the suit. but tay'soard meeng comes on theeelsf a w high- profile compaign, in which a.i.g. expresses gratitude for the bailout. >> thank you america. thank you america. thank you for the freedom to ensure a brighter future. >> reporter: and that's what the public wanted to hear all along. erika miller, "n.b.r.," new york. >> susie: robert doll, chief equity strategist of nuveen asset management says he's "moderately positive" on the outlook for 2

gregg greenberg from "the street" reports. >> reporter: computer geek rarely hooks up with runway chic. but the latest buzz in the fashion industry, wearable technology, could change that. and wall street is taking notice of what's currently a billion dollar industry and could soon rock the retail world. >> longer term there is no reason by the end of the decade it's not tens of billions of dollars and eventually hundreds of billions of dollars because you are talking watches, bracelets, glasses, clothing and lot of things you can't even think about today. >> reporter: white believes the big winners-- at least in the short term-- will be apple google, microsoft and samsung. and what will start with wired watches and glasses will eventually blossom into a world wide web of t-shirts, blouses and sweaters. >> it depends on how thin and light you want to make this. companies like i.b.m. are working on some flexible substrates that will really allow for the creation of wearable electronics. clothing. >> reporter: that's not all i.b.m. is working on. futurist trevor davis says the tech giant

hank greenberg filed suit on behalf of shareholders asking for $25 billion in damages. he alletes e thrms of the bailout were too harsh, including 14.5% interest on its initial loan. but columbia law professor jack coffee does not think the suit will be successful: >> i think its a longshot suit, he has alleged very specific facts, that the federal government was seeking to take over a.i.g. and run it for the best interest of others and not its shareholders, but it is very, very rare that a federal court will allow a derivative action to proceed against third parties. >> reporter: a.i.g. was legally obligated to consider joining the suit. but today's board meeting comes on the heels of a new high- profile compaign, in which a.i.g. expresses gratitude for the bailout. >> thank you america. thank you america. thank you for the freedom to ensure a brighter future. >> reporter: and that's what the public wanted to hear all along. erika miller, "n.b.r.," new york.e >> susie: robert doll, chief equity strategist of nuveen asset management says he's "moderately positive" on th

hank greenberg filed suit on behalf of shareholders asking for $25 billion in damages. he alleges the terms of the bailout were too harsh including 14.5% interest on its initial loan. but columbia law professor jack coffee does not think the suit will be successful: >> i think its a longshot suit he has alleged very specific facts, that the federal government was seeking to take over a.i.g. and run it for the best interest of others and not its shareholders, but it is very, very rare that a federal court will allow a derivative action to proceed against third parties. >> reporter: a.i.g. was legally obligated to consider joining the suit. but today's board meeting comes on the heels of a new high- profile compaign, in which a.i.g. expresses gratitude for the bailout. >> thank you america. thank you america. thank you for the freedom to ensure a brighter future. >> reporter: and that's what the public wanted to hear all along. erika miller, "n.b.r.," new york. >> susie: robert doll, chief equity strategist of nuveen asset management says he's "moderately positive" on the

the right amount. >> the key with brooke is we don't know what tomorrow brings. >> but the greenbergs have learned to adapt to their daughter's condition. and their own unique and special ways. >> nows have very old looking -- this is very old looking. she's a sweet girl. >> you can watch more of the interview on "katie" at 4:00 on abc2. >>> well, the shooting in newtown, connecticut it made us all want to grab the children and hold on to them closer. >> now a parent as you might want to do everything you can to protect your kids at all cost and that's what one dad in cecil county did. jeff hager has that story for abc2. >> it was easy to relate. i think the whole country kind of related to the events that happened in sandy hook and we were just devastated as was the nation. >> reporter: an uneasiness hung over every parent as they sent their students back to class after the mass shooting in connecticut. and frankie steves felt he had to do something. >> i have three girls yeah, a 7- year-old, 5-year-old and a 4- year-old. so yeah. i would do anything for them. to protect them. you kn

gregg greenberg from "the street" reports. >> reporter: computer geek rarely hooks up with runway chic. but the latest buzz in the fashion industry, wearable technology, could change that. and wall street is taking notice of what's currently a billion dollar industry and could soon rock the retail world. >> longer term there is no asoby t endf thdeca it's not tens of billions of dollars and eventually hundreds of billions of dollars because you are talking watches, bracelets, glasses, clothing and lot of things you can't even think about today. >> reporter: white believes the big winners-- at least in the short term-- will be apple, google, microsoft and samsung. and what will start with wired watches and glasses will eventually blossom into a world wide web of t-shirts, blouses and sweaters. >> it depends on how thin and light you want to make this. companies like i.b.m. are working on some flexible substrates that wl really alow f the creation of wearable electronics. clothing. >> reporter: that's not all i.b.m. is working on. futurist trevor davis says the tech giant now has softwar

a former ceo greenberg is pitching aig to join the suit. greenberg was ousted by the board back in 2005 but is still a substantial shareholder in the company as we were talking about in the last hour, chances of aig actually bringing this suit seem to me to be quite de minimis simply because they're now out with an ad campaign saying thank you, america, we paid back our money. how can you then go back and turn around and sue? the flip side is, if you don't participate in the lawsuit, and somehow greenberg happens to win you expose yourself also to shareholder lawsuits. so that's on the table today. we will see what happens tomorrow. before the particle 2% chance, after the article maybe a 1% to 0% chance. here we are. >> coming up next, guest host senator ron johnson and cato president and former bb&t ceo john allison talking about the debt ceiling and more. here's a look at the futures. narrowed the loss down a couple of points on the dow. >>> comments, questions? send them to @squawkcnbc on twitter. follow the show and look for updates fr

cbs travel editor peter greenberg is here this morning. good morning. >> good morning. >> i feel like you've followed this from the beginning. this is big news. >> it is big news. it is highly unusual. i can think of maybe two times in the last 60 years that this agency has grounded an airline. one was in the late '50s to comet and then in 2001 after the crash of 191the dc-10, flight 191 in chicago. >> do all of these come from a single reason? >> we don't know that. we know it's based on an electrical input. more often than not it's been with electrical systems, especially the lithium battery. >> everything argues that they had the parts made in some different places. some made in italy, some somewhere else and most in the united states. >> what the faa is looking at right now is not just design and material. they're looking at the production line and they're looking at the installation. and that's what's going to keep this plane on the ground until they figure out if there's a system problem. >> what does it mean for bowing? >> well, it'