Benmosche Is Unsung Hero of Financial Crisis: Cohan

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Aug. 28 (Bloomberg) – Bloomberg Contributing Editor Bill Cohan discusses Benmosche’s contribution to AIG’s comeback and the hack attack on JPMorgan. He speaks with Betty Liu on Bloomberg Television's “In The Loop.” (Source: Bloomberg)

And is the author of numerous bestsellers including " house of cards." one of the things that bob told me over the weekend was it was important for him even throughout fighting cancer in the last several years, very important he finished the job at aig.

He wanted to make sure he paid taxpayers back and they got the company back on track.

Do you think he did that?

Absolutely, as you can see from your interview and as you spend time with him, he is clearly one of the largest unsung heroes of the financial crisis come up maybe the most significant unsung hero of the initial crisis.

What he was able to do with aig and stabilize that company and turn it around and get them thinking in the right way again and repay that bailout money and increase the stock price nearly five times and more important than that -- and that's highly important -- he paves the way for his successor, a very impressive former j.p. morgan banker who i used to work with.

Bob benmosche did everything that was asked of him and more.

The guy has incredible dignity and you saw in your interview.

He clearly does.

And a very fierce management style.

How would you describe the way he managed aig and how outspoken he was compared to have other wall street ceos manage their firms?

Wall street is not a place for a shy and retiring type especially at the top of the firm.

Jamie dimon is obviously very outspoken and lloyd blankfein is very outspoken.

Bob benmosche is cut from that same mold.

He had a very tough assignment.

He had called his bailout money, the government was his biggest shareholder by far, he got rid of the government and paid the money back and nobody thought that was possible.

Let's be honest -- six years ago, who would've thought it would be able to pay back $182 billion of debt.

Bob benmosche is one of the unsung heroes of the financial crisis.

You mentioned jamie dimon, one of the other wall street titans.

He is now battling his own throat cancer diagnosis.

There is a similarity here in dealing with his health.

Jpmorgan is in the news for other things today.

There is this hacking situation possibly with russian hackers hacking into jpmorgan and for other banks.

How disturbing is it that a big bank like jpmorgan could be hacked into?

Well, i'm no expert on hacking into bank accounts but -- why do people rob banks?

That's rather money is applies to this day.

You have these huge financial institutions with trillions of dollars and if you are a hacker bent on the very, why not go to the biggest place.

It gets attention and shows their alpha male gusto that they can hack into these big banks.

It shows the vulnerability but it's still surprising great we have heard endless stories of account numbers being taken.

This is just the world we live in, unfortunately.

What bigger target on wall street and j.p. morgan?

Even the way we reported today is jpmorgan and for other banks so it is really jpmorgan that we really care about when we hear about this attack.

I mentioned earlier about jamie dimon and his own battle with cancer.

How do you think so far the board and the ceo and the management has handled this disclosure in comparing it to how aig handled it?

I'm not one to always give high marks to jpmorgan but i give them high marks so far for the handling of jamie dimon's health issue.

They seem to have been very forthright about it but we don't know all the details.

I'm not sure we should know all the details in a personal situation.

We learned with steve jobs that the disclosure on these matters, the sec does not have term rules so each of them plod forward as best they can.

I think jpmorgan gets high marks.

You have to disclose health issues for the ceos because people like these ceos are larger-than-life figures and they become an embodiment of their firms.

They do, indeed.

It's such a personal decision but thank you so much.

Coming up, millions are scrambling to get their fantasy football line of scrimmage for the season.

This text has been automatically generated. It may not be 100% accurate.


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