Will be the house or the senate that blinks first on the funding for the department of Homeland Security. Breaking on this final friday in february. Ben moshe had undergone treatment for lung cancer since 2010. In august of 2014, hes but with eddie lou about his cancer betty liu about his cancer diagnosis. The hardest thing is telling the nice, that my son and my daughter telling denise, that my son and my daughter. To say to them come unfortunately, there will be a timeframe here. Lets think about the things we can celebrate. To keep them from going into a dark price. They all drive minas. How are you feeling . Im feeling fine. Drive me nuts. Everybody says, how are you feeling . Im feeling great. Does it get irritating after a while . Very are getting. But somebody has an illness, how do you think they feel . What good is it for them to tell you, im in pain . What can we do to be doing exciting things. Its about thinking about your life and enjoying your life until you dont have a life. Robert bentley sharenmosche led aig for five years, taking on the task of turning around the company after receiving the u. S. Governments single biggest rescue passage. He became the ceo in 2009. Aig finished repaying the bailout in 2012. Joining me is exact tracer. You have a story on bloomberg. Com. Zach tracer. He said i was not interested in this job, i said no three times. Why in gods name would you want me to be your ceo . Turned out to be a good call. He exhibited leadership that had not been seen during the crisis. Bob was a really strong leader for aig. The leader the company clearly needed. How did he exhibit confidence in the Financial Community and to the staff at aig . When he came in, this is a company in a lot of trouble. He told them, look, we are going to turn this thing around. He stood up to a lot of people. He came out of retirement to take this job. He led metlife before. Talk to me about what people said in the wake of him taking over aig and then how aig was able to turn it around. And pay that government money back in 2012. He came in and was pretty brash and stood up to the aig politicians was not too fond of the federal governments oversight. He had some clashes there. In the end, the folks in the government expressed gratitude to him for repaying the bailout. Zach, thanks so much. We will continue to follow this breaking news story. Robert benmosche dead at the age of 70. The fate of the department of climate security of Homeland Security still unsure. Peter cook is on capitol hill. What is the status of this temporary fix and will it work . The status is the house of representatives is looking to pass a threeweek continuing resolution that would fund the department of Homeland Security at its current level giving republicans more time to take a whack at the president S Immigration executive order. Meantime, over in the senate youve got republicans there who have effectively blinked and they have agreed to fund the department of Homeland Security through the end of this year. Two different tracks from two different republican leaders. What we are waiting for now is for the house to come back into session and passed this vote for this threeweek extension. It may happen soon. Here are some of the debate that played out earlier. A solution is being put forward. There is no one putting forward a bill to shut anything down. It is too fond for three more weeks. I will encourage my friends any democrat who wants to vote no you are voting to shut down the department of Homeland Security. Four weeks, Speaker Boehner has been lost at sea, torn between whats right and the hard right. Today, the senate has thrown Speaker Boehner a life preserver and he refused to take it. Right now, we are waiting for that we just heard from the white house, they will be prepared to sign off on the threeweek extension. They would much prefer to see full funding for the department of Homeland Security without any mention of the immigration executive action. Thank you. Stan colander is executive Vice President at n corpus msl group in washington. Good to be here. We heard the report from peter cook. You seem resigned to the fact that the dhs shutdown is inevitable. Are you surprised at the latest turn of events . There is nothing about whats happened that is surprising at all. I said earlier in the week that it was more likely than most people were thinking. The house is in recess. The house when intuit about 1 00 because they were not sure the speaker was not sure that he had the votes to pass this temporary threeweek extension. It doesnt mean this debate is over. It will continue for another three weeks. You believe this is not a fight between republicans and the white house but rather between republicans and republicans. How so . This is a gop on gop situation of violence almost. House republicans and Senate Republicans are throwing each other under the bus. It got so bad that some house members were calling for Mitch Mcconnell to be replaced. Some republicans in the senate were saying the House Republicans needed to grow up and understand they did not control what the senate did. Immigrants are sitting back watching with their hands over their routes because this is almost too beautiful to watch from a political standpoint. Republican congressman of pennsylvania told his colleagues today some folks have a harder time facing political reality than others. Oh was it understood from the beginning that the gop strategy probably would not be successful . It was not understood by everybody. A lot of folks started writing right after the election that agreement among senate and House Republicans on any issue especially the budget was going to be very difficult. There are different political considerations. House republicans are not worried about reelection because they have gerrymandered districts. 24 of the 34 senators are republican up for reelection are republican. Almost 10 of those are publicans come from blue districts. There are different constituencies involved. Shutting down the government is a Campaign Event that will play well when they go home this weekend. Was this we saw an exercise if it wasnt for the department of Homeland Security it would be any other number of issues whether the Highway Trust Fund or that ceiling increase. Debt ceiling increase. Republican versus republican because their political needs are substantially different. Where does it leave democrats . They will say during the campaign republicans were going to let funding for Homeland Security lapse. They will say that. That issue will be gone by the time the Campaign Rolls around they will point out that republicans cant govern among themselves. How will they come up with the kinds of things they need to govern . This is a 2016 election event happening right now thats what the democrats are going to do with it. We have about 30 seconds left. Where does this leave the fight over president obamas executive action on immigration . There was a court in texas that put a stay on it and prevented it from being implemented and the white house is obeying with that. Regardless of what congress does , this is going to be in the hands of the court for a long time. I strongly suspect if an Appeals Court overturns a decision, the president will come up with another always a pleasure to have you on the broadcast. Thanks for your time. Villa marks will join us with a report from his latest trip to cuba. The fascinating intellectualproperty battle on the horizon. We are continuing our coverage on the death of robert benm osche, dead at the age of 70. Welcome back. Lets get you some of the top stories we are following on this friday. Coalition airstrikes in northeast syria and the same area where 220 christians were abducted this week. There has also been fighting on the ground with christian wishes battling Islamic State. Islamic states finances are hurting. The revenue from oil fields has plunged. The groups finances will define declined further if it does not capture more territory. The Financial Action task force has Islamic State also funds itself through bank looting, extortion and robbery. The former ecb president says greece needs a stamp of confidence from creditors. Greece must have plans for economic reform approved by the international community. He discussed speculation that greece would be the euro. Leave the euro. The exit would be a catastrophe for the great people. And for greece as a whole. The greek people. I would say certainly, it would be something which would be very, very bad for the area as a whole. That is the reason i trust there will not be a greek exit. Greece did receive one vote of confidence today. Lawmakers in germany approved a fourmonth extension to the bailout. Leonard nimoy is dead. He played spock on star trek. He was nominated for emmy awards for each of the shows three seasons. He was a featured player on the tv show mission impossible. He was 83 years old. As cuban officials meet with their american counterparts in washington today, the focus is on reestablishing diplomatic relations. For two of the Worlds Largest brings manufacturers, the normalization between the two governments may reignite take a trademark war. Willem marx reports. The sugarcane harvest in western cuba has changed little over the centuries. Even with the addition of some aging combine harvesters. Factories that refine the sugar went nationalized. Distillers of the tastiest and product and product end product, rum. You cannot buy it in america. It is not possible to be in the night states. The export director of a joint effort a joint venture founded in 1993. Wasnt a risk for a french brings company to come to cuba and work with the government . It was a risk because they knew the brand cannot be traded in the United States. The french firm soon learned the embargo would not be the only barrier blocking their cuban made havana club on the u. S. Another rum also called havana club became available in american stores. That doesnt mean people feeling have the legal register for the bread. The company is bacardi. Do you make a profit from havana club in the u. S. . Obviously. Tiny profits create a powerful legal argument. That use trump any claims the brand ownership of brand ownership. The competition is fierce. It becomes a question of defending what you own and have a right to. That right came from congress which backed accardi bacardi. As u. S. Cuba rhetoric cools, the rum market way may well heat up. Everyone is looking at how that affects big brands. We are looking at it, too. Is now the right moment to do something more aggressively . The embargo list they will start shipping their Cuban Havana Club under a different name. Bacardis u. S. Sales of havana club remain barely profitable. Their real value may be keeping a rival room out of americas cocktails. Willem marx joins me in studio. Is this something that will happen across the board . There have been a Staggering Number of lawsuits since the start of the embargo. A lot of those might be unwound. In re ignition of this acrosstheboard. Rum and cigars and property. If the president with the full embargo. What is the sense of people on the ground . A lot of these things these exports are often operated by the state in collaboration with the european partner. They work with outsiders its not like individual tobacco growers or rum distillers will benefit financially from outside investment from the United States or elsewhere it will be the state that controls these markets seeing the upside. What is the bottom line for the United States . What is the bottom line for consumers Industry Leaders . It is shocking how much approval to have gotten from congress it was a staggering that they inserted this subsection into a huge appropriations act just to support bacardis claim. In the political environment some of the american firms competing with their cuban converts. Counterparts. Is anything involving the price of crude oil making any sense . Alix steel gives us an answer when bottom line continues in just a moment. Welcome back to bottom line. We are awash in oil right . But u. S. Oil is 12 cheaper than the prices in europe. Alix steel joins me now to explain what seems to be a conundrum. We are seeing it all acrosstheboard. And oil rally today. This gap is quite significant and speaks the speaker which we got here was quite quick. You were still looking at oversupply in the u. S. Production still at a 40 year high. This rigs are not dealing with the longerterm production. Storage is going pretty crazy. Utilization for refineries is down last week. They are using less crude. There are some refiner strikes as well. In europe, its a different story. Demand is picking up worldwide. There has been a lot of supply what does it mean for prices at the pump . In california, still paying a high tax for environmental reasons. Gas is cheaper when you are closer to the refinery. Coming up come Holding Banks liable for terrorism. A lawyer fighting to make some of the largest banks in the world liable for the violent deaths of american citizens. Welcome back to the second halfhour of bottom line. Thank you so much for staying with us. More on the life of Robert Benmosche who died today here in new york at the age of 70. Joining me on the phone is the former aig chairman. Mr. Greenberg retired back in march of 2005. Welcome to bottom line. Thank you for your time today. You told fox news back in 2010 speaking of mr. Benmosche the best ceo dave had since i left the company. They have had since i left the company. We have known each other a long time. We grew up in the same part of new york state, upstate new york. He came from monticello and i came from a town 12 miles from theirre. Weve had a relationship going back quite some time. I recommended him for the job at aig. I think you did an outstanding job given the circumstances he inherited. He was a fighter. You saw that in his struggles against cancer. An outstanding individual. I will miss him as a friend very deeply. One of the descriptions of mr. Benmosche was that he could at times be combative. Is that what the company needed at that time . I would not say that he was combative. Everybody in that row had to be combative from time to time. I think what you believe is right. He was a fighter. If he had a fight, he would fight. What did he do immediately when he became the ceo to give the staff at aig a sense of confidence that things would be turned around under his watch . Did we lose mr. Greenberg . I believe we did. Mr. Benmosche, dead today at the edge of 70. He died here in new york after a long battle with lung cancer. We will take a quick break. Bottom line will continue in just a moment. Welcome back. We have corrected our technical problems. I was speaking on the phone with hank greenberg. Mr. Greenberg kind enough to reconnect with us. We were talking about the life of the former aig ceo when mr. Benmosche first took over as ceo, what was it that inspired staff and aig at aig . It was love. He is a fighter and he fought for the people and fought against the bureaucrats that were trying to set rules for how the company would operate. He provided an anchor for them. He fought on their behalf. Something you want a ceo to do. You have bureaucrats trying to interfere with the operation not recognizing the problems that had to be confronted. I thought he did a great job. What did mr. Benmosche teaches the Financial Community about leadership during a time of crisis . Its what he did. He stood up and fought for what he believed was right. Thats what a leader does. He did that very well. Im proud to have called him my friend. Hank greenberg, the former aig chairman. Discussing the life of Robert Benmosche who died today at the age of 70. Thank you for your time. It is time for todays latin america report. There was a surge in chiles copper output in january. Copper output in the country that produces about a third of the worlds supply to increased 13 . What happens next at the department of home and security the department of Homeland Security were to run out of money . Lets get to the top stories we are following on this friday. Lets check the price of crude oil. You see on the screen crude rose 2. 6 . Floor trading was down about 2. 75 . For the month of february, up nearly a full percent. Consumer confidence has cooled down from an 11 year high. The university of michigan index fell for the first time in seven months. Rising prices at the gas pump and Winter Weather were partly to blame. Shares of jcpenney down today. Posting a loss in the quarter that included christmas. Jcpenney delivered an annual forecast that came in below estimates. The ceo has been tried to revive sales growth by revamping marketing and expanding merchandise. Shares were up 41 the first two months of the year. It is time now for the commodities report. Su keenan in the newsroom with the details. Oil closing back at the 49 mark. We are seeing the biggest monthly gain since june. Oil above 49, but the real show stealer was heating oil. Closing above 7 . There are a number of refinery issues out there. Supply is tightening as a result. In terms of the big picture, you have the gains in oil as u. S. Producers cut back on drilling. Cut back to his lowest since june of 2011. According to these reports traders say it is significant. We are seeing the market react to news on capital expenditures. The gold rebound all about that latest gdp data. Combining to make people think the economy is not growing as fast as originally thought so that create some save haven demand. Wordless oil go from here . Where does oil go from here . We caught up with an analyst to accurately predict it a rebound for oil after the drop in 2008. Because of the supply glut out there, we may not see a rebound but he declined later in the year. That analyst has a gut feel that oil prices could see a double bottom. We have too much, he says. He is not bothered by the reduction in rig count. Hes not sure that reduction is falling quickly enough to justify support at this level. Sue, thank you. The west department of Homeland Security will run out of money at midnight tonight u. S. Department of Homeland Security. We took a look at how the latest shutdown will affect u. S. National security if the congressional standoff continues. The department of Homeland Security will run out of money on february 28 unless Congress Passes a bill to fund the agency. What is the problem . The house version of the bill would block obamas new immigration policy which is caused Senate Democrats to filibuster. The department of Homeland Security is massive, created in the wake of 9 11 it includes fema, the coast guard, border patrol, secret service and the tsa. What happens if the dhs is shut down . Out of the nearly 230,000 dhs employees, 200,000 of those are still required to show up for work. They are classified as essential. We need them to keep working because they keep us safe. Even without funding, our National Security is probably not at risk. The people protecting us will be working pro bono. None of those essential workers will get paid until Congress Passes the funding bill. The lapse in funding will affect more than just paychecks. Dhs. Training thousand dhs will stop training thousands. The office that processeS Immigration applications will remain open because its almost entirely funded by application fees. It does not need money from congress. U. S. Federal court found palestine authorities liable for supporting six terrorist attacks committed in israel. Gary is the managing partner of the law firm that bears his name and his colead counsel welcome to bottom line. Thank you for your patience. This is very little history of american victims of International Terrorism having their day in court. How effective has the act been in that regard . When a guilty verdict has damages attack, what is the process for recovering those moneys . The act was first passed in 1991. There was no action and no cases that bubbled up in the first 15 years. First one was a case in chicago. Only in the last six months have there been to antiterrorism act trials which have gotten attention. We really dont know the jury is out on the question of what impact it will have. The lawyer for the 10 families who won the lawsuit in brooklyn this week against a Palestinian Authority they said funds around the world held and used by the groups will be targeted to collect judgment. What is the plaintiffs recourse . Good question. They have almost exclusively been against International Financial institutions which have financial resources. We did bring one case against chiquita nbanana. Overall, we tend to target aiders and abettors of International Terrorism who do have resources and can be retched reached. You spoke to some of my colleagues. How do you connect the dots . Tell us about freeman versus hsbc. Freeman involves allegations that a number of International Banks, some of the biggest banks in the world conspired with iran and its Banking System to launder hundreds of billions of dollars by stripping information on the actual Wire Transfer that would have resulted in them being blocked in the United States by domestic clearing. The u. S. Treasury department has found the iranian banks took some of the money they stripped and actually sent it to hezbollah and the irgc in iran targeting u. S. Soldiers from 20042011. It almost sounds like you are making a rico case. It has some elements of that. Theres a conspiracy which the defendants having knowledge. Each of these defendants has entered into a deferred prosecution agreement with the United States department of justice saying we did in fact conspire with iranian banks. You are talking about the financial world. Is there a sense there could be wall street middlemen involved . It happens to be the case that 90 of all u. S. Dollars clear through new york and the net states. United states. Terrorists depending on u. S. Dollars, they are dependent on accessing u. S. Currency. Much of the money that funds terror comes right through here. Im familiar with the legal phrase that means there has been precedents set in what is now there should not be disturbed out of respect for what was ruled before. Is there precedent for your strategy . Yes. We brought a case 10 years ago against the bank of jordan which resulted in a jury verdict that found arab bank liable for transmitting funds through new york that went to hamas. Have less than a minute left. In the business world, they use the term disruptive. Innovation that shakes things up. Are you disruptive in this regard . This requires a lot of legwork and diligence and your willingness to go far and wide in the name of justice. We hope it will be disruptive. We want to change the cost benefit analysis that International Banks undertake when they decide on risk management. Who will they maintain accounts for and do business with . We hope to change the answer to some of those questions. Do your clients understand that the relief they seek in relation to the lost of their loved ones is going to have to be economic . Most of them are not motivated by that but they do understand that banks respond to damages and financial losses and gains. They are comfortable with it. A pleasure. Thank you so much. Stay with us. Welcome back. The drama over Homeland Security is not enough for you, you can watch house of cards. Netflix has made the streaming available early this morning. Scarlet fu is a huge fan. I would imagine it is off the charts. Quite a bit. My kids will have to keep themselves entertained this weekend as i watch house of cards. Storing your pictures online or surfing internet if you look at the charts, you can see that in the u. S. And asia, video makes up the majority of internet downloads. Data received by a computer or network. Netflix is one third. In asia, bit torrent leads the way. People use bit torrent pipes to watch pirated shows. It is a company that developed a format for people to share files. A lot of people use it for pirated content. In the rest of the world, bit torrent is youtube dominates in latin america and europe. Netflix is looking to their expansion in europe and the rest of the world. The company demands on the u. S. Domestic subscriber growth is slowing got. 39. 1 million subscribers in the u. S. The International Subscriber growth rate is stripping the growth rate here at home. The key here is that netflix is sweeping more money out of every usbased coustomer. It is going to get more expensive for customers, too. They recently increased prices. For existing customers, and does not go up until 2016. People will have to pay from one dollar to four dollars more. It will pay for expensive shows like house of cards and orange is the new black. Theyre hoping people get addicted to shows like house of cards. What have you heard about season three . I have to read all the reviews online carefully because i dont want any spoilers. It picks up where it left off. They have made it to the top. They have gotten everything they wanted, which means the only place they can go is down. A lot less fun to watch the flounder and phil at the top fail at the top. Dont text scarlet or tweet scarlet. I will have my full review on monday. Get the latest headlines at the top of the hour on bloomberg. Com. That does it for this edition of bottom line. Thank you for joining us. Street smart is next. Have a great weekend everybody. Hello and welcome. I am trish regan and this is street smart. Stocks heading for the best month since 2011. We will look at what created such a strong february and what you can expect as we head into march. I will speak about the gridlock with leaders in military intelligence and cyber security. And the legacy of the former cio. Now on