bernard madoff's lifestyle was just as elaborate as his eladies ladies lab -- alleged ponsy scheme. u.s. marshals currently doubling as real estate agents offered the latest glimpse into madoff's extravagance, his access to billions of dollars of other peoples' money afforded him the finer things in life which he collected in abundance, homes, boats, and bulls. >> he named his boats after them. he likes bulls. and here we have a leather one. >> reporter: this two-story penthouse apartment in manhattan where madoff was on house arrest is now up for sale. inside, a custom-made bed and mattress in the master bedroom. his and hers closets where he kept his 40 pairs of handmade belgian shoes. even his and hers dens. >> this is where bernard madoff spent the last few days of his free life. >> reporter: his beachfront home in the hamptons wept on the market last week with an asking price of $8.75 million. his 6,500 square foot waterfront estate in palm beach also for sale and appraised at more than $7.5 million. >> more money can go back to the victims through the sale of the personal prop

bernard madoff stole $50 billion, maybe more. charities, municipalities. he stole more than money. he stole retirement savings and the economic security of families and individuals, organizations, charities all across the united states. the agency charged with the responsibility of policing ham, the sec, did not stop him. i think there is no excuse for that failure by high demand from democrats and republicans, the victims of this fraud who hail all across the country who have testified before this committee, also demanded an explanation. how did this happen? what went on? who was on the beat? what was going on that allowed this colossal thievery to occur? today, we hold our third hearing on ponzi schemes in the second on the bernard madoff fraud in particular to find out how this could possibly happen. and what we need to do as the government and as the congress to minimize this from ever occurring again. it emerged last year that the sec staff receive multiple complaints over a period of 16 years. from 1992 to 2008, bernard mad

bernard madoff. unflattering new tapes revealing the extent to which madoff went to keep his scam secret. wait until you hear the rest of what he had to say. >>> amid calls for him to resign as governor of south carolina, mark sanford is now out with new comments. nefits package at no direct cost to the company... it was a perfect fit. find out more at aflac!... ...forbusiness.com once you've mastered the complexities of a headache... the rest of the body is a no brainer. doesn't your whole body deserve excedrin strength relief? excedrin back & body. excedrin. what ache? (announcer) what are you going to miss when you have an allergy attack? achoo! (announcer) benadryl is more effective than claritin at relieving your worst symptoms. and works when you need it most. benadryl. you can't pause life. what heals me? girls' night out. and for damage from acid reflux disease, my nexium. announcer: for many, one prescription nexium pill a day can heal damage to the esophagus that acid reflux disease may cau

and open house, we'll take a tour of bernard madoff's plush and open house, we'll take a tour of bernardoff's plush home now up for sale. t bad cholesterol but your good cholesterol and iglycecerides are still out of line? then you may not be seeing the whole picture. ask your doctor about trilipix. if you're at high risk of heart disease and taking a statin to lower bad cholesterol, along with diet, adding trilipix can lower fatty triglycerides and raise good cholesterol to help improve all three cholesterol numbers. trilipix has not been shown to prevent heart attacks or stroke more than a statin alone. trilipix is not for everyone, including people with liver, gallbladder, or severe kidney disease, or nursing women. tell your doctor about all the medicines you take and if you are pregnant or may become pregnant. blood tests are needed before and during treatment to check for liver problems. contact your doctor if you develop unexplained muscle pain or weakness, as this can be a sign of a rare but serious side effect. this risk may be increased when trilipix is used with a statin. if y

. >> reporter: this ocean view greeted bernard madoff for more than 20 years.his family's long island getaway, now up for sale to the highest bidder. >> there is an understated elegance. >> reporter: the man doing the sales pitch isn't a broker. he's a u.s. marshal. his department seized the property in the months after madoff was arrested for swindling investors out of $65 billion. >> bernard madoff had a small office here where i guess did he some of his work. >> reporter: after labor day, the marshallss will sell this estate to raise money for the victims. the asking price of $7 million which gets you four bedrooms, three bath, hardwood floors and pan rommic view. the items inside will be auctioned separately. >> from china wear to silverware to the robbing chair that ruth madoff may have sat on while reading a book. >> reporter: ruth madoff moved out and is now living on her own while her husband serves a life sentence. victims of the giant ponzi scheme still don't know how their futures will play out. one of them is fred, an owner of the new york mets. his

bernard madoff's u.s. montauk vacation home. bids start at a cool $7 million. tara mergener has a look inside for wjz. >> reporter: this ocean view greeted bernard madoff for more than 20 years. it was his family's long island getaway. now up for sale to the highest bidder. >> there >> reporter: the man doing the sales pitch isn't a broker. he's a u.s. marshal. his department seized it months after madoff was arrested for swindling investors. >> bernard madoff had a small office here, i guess, where he did some of his work. >> reporter: after this, they will sell it to raise money for victims. the asking price is $7 million, which gets you four bedroom, three bath. the items inside will be auctioned separately. >> from china, to the rocking chair that ruth madoff may have read books in. >> ruth madoff moved out on her own, while her husband is serving a life sentence. fred will pon, owner of the new york mets, his losses are so great, bankers feel he might be forced to sell the team. >> reporter: officials estimate this oceanside retreat, plus madoff's manhatta

last november, just before the whole thing collapsed, bernard madoff sent out statements to his clientsch were they told they were worth? >> irving picard: about $64.8 billion. >> safer: so the statements were total lies? >> david sheehan: yes, absolutely >> mr. madoff! >> safer: the $64.8 billion that investors thought they had was just an illusion... >> don't push me. >> safer: ... designed by madoff to keep investors investing. last december, the roof fell in. >> mr. madoff, what do you say to all those people who lost money? mr. madoff?& >> safer: mr. madoff has no say in the matter. if the victims want any money back, they'll have to go through mr. picard, the decider, and his bloodhound, mr. sheehan. how much real money do you think went into the whole scheme? >> sheehan: i'd say about $36 billion. and about 18 of it went out before the collapse, and 18 of it's just missing. and that $18 billion is what we're trying to get back. >> safer: so for the past nine months, picard and his team have been on a global treasure hunt. the first step: liquidation. madoff's boats, his art, even

. >>> back here at home the trustee overseeing bernard madoff's assets says he plans to go after the family for money. he'll sue madoff's sons mark and andrew, his brother peter and niece shanna to recover moneyment irving pick card says well over $150 million was loaned, transferred or paid to those four. the sons say those claims are baseless. >>> allen stanford the accused ponzi schemer is back in jail after being treated for injuries sustained during a prison fight. stanford's attorney says he was taken to the hospital last thursday awaiting trial on charges that he bilked investors out of $7 billion. >>> also in texas, coast guard crews are working to clean up an oil spill in the houston ship channel. about 10,000 gallons spilled after an accident between a tanker and a barge friday night. that collision created a huge gash in one of the fuel tangs. it has closed ship traffic along the channel. at least nine ships are waiting to get through. >>> take a look at these pictures after a big rig went off the interstate in why oling. parts of the rig were hanging over the bridge. the

bernard madoff had a small office here where i guess he did some of his work. >> reporter: montauk isdoff threw extravagant parties in the summer for his employees, big bonfire, lobster dinners as he and his wife presided from their beach y was all l stolen. on his >> wt t weain from the salale is going directly to restion for the victims. reporter:the askiking price is $8.8.7 lln. he was just takaking money from everywherere. he was living this jet set lilifeyle. >>>> r reporte today mamadoff' summer home and autumn, , winter d spri h homome the federal prisison in buer, north h caro ere his cell i is s slightly sml than the laundry room back in montauk. brian ross, abc news, new york. >> interesting to hear that federal agent sort of talking real estate speak, it has understated elegance. >> 3,000 square feet, five of my current apartment could fit in that house. >> that's the news for thiurhalf .urho.

marshals are looking for real estate investors to sell off bernard madoff's former vacation home. cameras were allowed inside to see how madoff lived off their investors. >> reporter: this ocean view greeted bernard madoff for more than 20 years. it was his family's family's long island getaway. now up for sale to the highest bidder. >> there is an understated elegance inside this house. >> reporter: the man doing the sales pitch isn't a broker. he's a u.s. marshal. his department seized the montauk home in the months after madoff swindled investor of $65 billion. >> he had a small office here, where i guess he did some of his work. >> reporter: after labor day, the marshal its will put this for sale. the asking price is $7 million, which gets you four bedrooms, three baths, hard wood flooring and panoramic views. >> from china to the rocking chair that ruth madoff may have sat in while reading a book and watching the waves roll? >> reporter: ruth madoff is living on her own as her husband serves a life sentence. others don't know how their fiewrltd will play -- future will play ou

for a hefty price tag, you could get something that once belonged to bernard madoff. >> chris brown seems to have a need about bidding up his girlfriend rihanna. we will have the details coming up. >> and some incredible video coming up. >> we are looking at mostly sunny skies today with a cool start this morning. the details coming up in the forecast. >> continued closures with a water main break repair. we will update you on delays. that is straight ahead. diabetes and cancer. and they've heard that biomedical research offers hope, that it could control, maybe even cure, their disease. senator barbara mikulski understands the importance of innovative biomedical research, for patients, their families, and our economy here in maryland. call senator mikulski today. tell her, thanks for protecting the promise of biomedical research and the maryland jobs it provides. it's not just the future, it's life. diabetes and cancer. they've heard that biomedical research offers hope, that it could control, maybe even cure, their disease. senator ben cardin understands the importance of innovative bio

. >>> and the sons of convicted swindler bernard madoff could be forced to pay up. ♪ yes, you're lovely♪ what do you think? hey, why don't we use our points from chase sapphire and take a break? we can't. sure, we can. the points don't expire... ♪ there is nothing for me... ♪ there's no travel restrictions... we could leave tomorrow. we can't use them for a vacation. you can use the points for just about anything. i know... ♪ the way you look tonight ♪ chase what matters. get your new chase sapphire card at chase.com/sapphire. [ announcer ] you make healthy choices every day-- oh, max! and you want to do the same for your laughable, lovable dog. [ barks ] that's why purina fit & trim is specially formulated... with high-quality protein, including delicious real chicken, to help him maintain lean muscle and a healthy weight, so he can make the most of every day. long live your buddy. long live your dog. purina fit & trim. >>> on the cbs morning news, here's a look at today's weather. it'll be another beautiful day from the midwest through the northeast coastline. the southeast will remai

. >>> security and exchange commission officials are promising change in the wake of the bernard madoff. the sec failed for years to detect madoff's multibillion-dollar rip-off and the inspector general wants an employee by employee review. in a tape of a phone call made in 2005, madoff is heard coaching someone who is about to be interviewed by the scht ec. madoff says, quote, you don't have to be too brilliant to fool federal investigators. >>> more than 46 million americans do not have health care insurance. in the debate over health care reform, insurance companies are often portrayed as the villains, but are they? anthony mason. >> reporter:s. >> reporter: in the heated debate over health care reform -- >> we will hold the insurance companies accountable. -- the insurance companies have been matt villains. >> will is no business in america that makes more money than the insurance industry. >> reporter: the reality? that's simple in the not true. the health insurance companies make $11 billion in profits in 2008, but other medical industries made far more. the top five drug company,

securities and exchange commission hopes the agency can learn a lesson from the mess it made of the bernard madoff ponzi scheme. so a new report out today has some advice for investigators. among the ideas: new ways to collect complaints and tips, and follow up on them. that's something that didn't happen in the madoff case. the agency's enforcement division is already adopting some of those ideas, putting teams into place to help identify fraud. >> susie: it's getting to be that time of year again-- earnings season. usually, when we report on corporate earnings, we look at how much money firms are expected to make. but this time around, we have a different take due to the recession. as suzanne pratt explains, the earnings story now is straight out of hollywood. >> show me the money! show me the money! >> reporter: for corporate america, this earnings season is all about showing investors the money. after cost-cutting their way through the last few quarters, experts say companies need to come through with at least some revenue growth. thomson reuters' ashwani kaul says, even though the economy is

. >>> the sec is promising to fix the problems that allowed bernard madoff to get away with his multibillionlar fraud for so many years. the head of the agency'sen forcement division said he started the biggest overhaul of his division in 30 years. the internal watchdog may recommend more than 40 changes to improve investigations. >>> general motors is launching a bold new marketing campaign. if you don't like your car, return it for a full refund no questions asked. you have 06 days to -- 60 days to return the car. it will run at least through the end of november. >>> coming up on "good morning america," the car of the future. it doesn't take gas and you don't have to plug it in. will hydrogen powered cars catch on? that's on gma. that is your money scope report. i'm jeremy hubbard. >>> good morning. i'm susan shrack. we've got rain falling. it's been falling most of the light november a lot of us. even the western areas of the state are seeing rain come into the forecast wind will be gusting as high as 30 americaned. 73 or saturday. check out the roads. here's kim. >> reporter: thanks, sus

that's what bernard madoff did.will basically be hearing a lot more about how he conducted that scheme as this whole thing unfolds and the s.e.c. continues its investigation. back over to you. >> i guess it helps if you're willing to go to prison for a long, long, long, long time. >> reporter: i don't know if anyone sets out to go to prison for a long, long time. but unfortunately, the s.e.c. really had the wool pulled over its eyes on numerous counts. that's what we've heard as this whole thing has unraveled. >> didk you, rebecca anthu,yo rebecca jarvis. >>> ws 4 tcaayod isayng looki a jobs for you. sthooe'er jeob fare' at the corner. f ns corner. th is happening today from 10:00 a.m. to 3:00 p.m. eun? >> joe, thank a california lawmaker has resigned after comments about his extramarital affair and sexual escapades were caught on tape. in this video recorded in july, the then orange county assembly man mike duvall was caught bragging about affairs he was having with two women. the graphic conversation took place du

says it has learned from t mistakes that led to bernard madoff's multibillion-dollar fraud. two top officials told a congressional panel ere will be changes after the commission bungled several investigations into madoff. the head of the agency's enforcement division said he has started the biggest overhaul of his division in at least 30 years. >>> well, general motors is launching a unique marketing campgn, aimed at boosting sales and improving its public image. unhappy car buyers can get a full refund within 60 days, no questions asked. gm is hoping to win back customers, concerned about the company's recent bankruptcy. the offer starts monday. and will run at least through the end of november. >>> sprint/nextel has a new monthly plan, offering unlimited calls to other cell phones, regardless of the cell carrier. the plan starts at $70 a month. and also includes unlimited texting. analysts say sprint's plan could eventually force competitors to lower their prices. >> one more reason to use your phone. >> yes. >>> you can read more about these stories online at abcnews.com.

. >>> it's where bernard madoff broke down and confessed to his massive fraud, frantically wrote checks for millions of dollars as his scheme fell apart and appeared in a badge -- bath robe to greet the fbi arrests who arrested him. his penthouse is for sale along with his other homes. linsey davis gives us a tour of the house. >> reporter: posh, lavish, luxurious. madoff's lifestyle just as elaborate as his alleged $65 billion ponzi scheme. >> your eye is immediately drawn to this piano. >> reporter: u.s. marshals currently doubling as real estate agents offered the latest glimpse into his extravagance, access to billions of dollars of other peoples money afforded him the finer things in life, which he collected in abundance, homes, boats and bulls. >> he named his boats after them. he likes bulls. and here we have a leather one. >> reporter: this two-story penthouse apartment in manhattan where madoff was on house arrest is now up for sale. inside a custom-made mattress in the master bedroom. closets with 40 pairs of handmade belgian shoes. >> this is where madoff spent the last few d

. >>> someone paid almost $9 million for the new york beach front home of convicted windler bernard madoff.s. marshals seized the house to reand i his victims. the real estate agent declined to say who bought the place. >>> and a utah man is $1 million richer just by making a hole in one. jason used a nine iron on a 150-yard hole during a charity golf tournament tuesday. the ball wept about 10 feet past the hole before it rolled back in. not bad if a guy who is a laet edition to the event. sweet. >>> this morning on "the early show," we'll speak with jason about his amazing hole in one shot. i'm michelle gielan and this is the "cbs morning news." 's the problem? these are hot. we're shipping 'em everywhere. but we can't predict our shipping costs. dallas. detroit. different rates. well with us, it's the same flat rate. same flat rate. boston. boise? same flat rate. alabama. alaska? with priority mail flat rate boxes from the postal service. if it fits, it ships anywhere in the country for a low flat rate. dude's good. dude's real good. dudes. priority mail flat rate boxes only from the pos

jeffry picower is worth at least $1 billion after investing with bernard madoff, and cashing out right before the ponzi scheme collapsed. a lawsuit may knock him off of next year's list, but either way, the 2008 red ink bloodbath makes this list one to forget. even for those who can afford to lose $1 million an hour. bill weir, abc news, new york. >> $950 million and you're on the list. >>> that is "world news" for this wednesday. i'm charlie gibson, and i hope you had a good day. for all of us at abc news, have you had a good day. for all of us at abc news, have a good night. captions by vitac ypypypypypypypypypypypypypypypyp

. >>> the sec is promising to fix the problems that allowed bernard madoff to get away with his fraudor so many years the head of the agency's enforcement decision told a senate panel he started the biggest overhaul of his division in at least 30 years. the commission's internal watch dog says he may recommend more than 40 changes to improve investigations. >>> general motors is launching a bold new marketing campaign. if you don't like your car you can return it for a full refund, no questions asked. buyers will have up to 60 days to return their car. gm is hoping to prove to customers its vehicles are better than the competition. the offer starts monday and will run at least through the end of november. >>> coming up on "good morning america" -- the car of the future. it doesn't take gas and you don't have to plug it in. will hydrogen-powered cars catch on? on gma. that is your "moneyscope report." i'm jeremy hubbard. >>> check this out. we've got this low cloud deck i've been talking about. now that we're getting daylight we can see it hanging just over owings mills and the clouds

and an unintended twist after bernard madoff's schemes.ily loses money and their exclusive malibu home, but instead of the foreclosing the bank is selling the property. wait until you hear what a bank executive actually did there. (announcer) time brings new wisdom new aches and pains, ...and new questions about which pain reliever is right for your body. tylenol 8 hour works with your body, with one layer that dissolves quickly... ...one layer that lasts all day ...and no layers that irritate your stomach the way that ibuprofen can. it's tough on your body pain. not on your body. >>> in our political ticker you can the first lady says let's make a deal. michelle obama is challenging students over at george washington university in the nation's capital. if they perform 100,000 hours of community service over the school year, the first lady will speak at their graduation next year. both the first lady and the president have pushed foremore young people and others to contribute in their communities. let's go to jack cafferty of "the cafferty

marshals are preparing to sell bernard madoff's homes to pay back victims of his ponzi scheme. today they released pictures of his manhattan apartment, estimated value $7 million. also for sale, his estate in palm beach, florida, worth about $11 million. and his yacht? $million. coming up next, remembering walter cronkite. >> he was a voice of in a wor in a world that was growing more and more uncertain. 2 million. impressive resume. i see you're flatulent in three languages... graduated top of your gas... (announcer) got gas on your mind? your son rip is on line toot. excuse me (announcer) try gas-x. powerful relief from pressure and bloating in a fast-dissolving strip. gas-x. pressure's off. a day on the days that you have arthritis pain, you could end up taking 4 times the number... of pills compared to aleve. choose aleve and you could start taking fewer pills. just 2 aleve have the strength... to relieve arthritis pain all day. ÷o@ this is humiliating. stand still so we can get an accurate reading. okay...um...eighteen pounds and a smidge. a smidge? y'know, there's really

never heard before, bernard madoff tells how he outsmarted government securities experts. brian ross investigates. >>> what a view. spectacular images from space, the first since the hubble telescope was repaired. >>> blind sided. she wanted to give $1 million in winks for a school to the deaf and blind. her husband's creditors had a different idea in mind. what a mess. >>> and twist and shout. the beatles, like you've never >>> and twist and shout. the beatles, like you've never heard them before. captions paid for by abc, inc. >>> good evening. the speech the president is going to give tonight is an important one. the president will speak about health care reform to a joint session of congress. only 15 times since 1952 has a president, other than state of the union speeches, made such an address to congress. in excerpts from the speech released by the white hoe, the president will say, i am not the first president to take up this cause, but i aindermteed to be the last.rm what we are seen in these last months is the same partisan spectacle that only hardens the disdain m

the sec is promising to fix the problems that allowed bernard madoff to get away with this fraud.ead of the agency said he has started the biggest overhaul of his division in at least 30 years. they may recommend more than 40 changes to improve the investigations. general motors has a bold new marketing campaign. if you do not like your car, you cannot return it within 60 days, no questions asked. the offer starts on monday and will run at least through the end of november. the car of the future. it does not take gas and you do not have to plug in. will hydrogen-powered cars catch on? >>> 6:20, up 54 degrees. >> could the 9/11 terrorist attacks have been prevented? an informant speaks out. >> later on "oprah," lisa ling returns. it is her first visit since her sister was freed from north korea. >> thank you for waking up with us with us as you look at the 9/11 site in yework york city. a live picture from there. back with more. ci >>> ever since september 11, 2001, a question remained -- could those attacks have been prevented? >> a top operative is now speaking out for the first

. >> this is where bernard madoff spent the last few days of his free life. his beachfront, went on the camp -- on -- in the hamptons went on sale last week. his 6500 sq. ft. waterfront estate in palm beach, also for sale and appraised at more than $7.50 million. >> the more money that can go back to the victims through the sale of this property, the better. >> there will be a next round of indictments. >> adieu think he will be indicted on monday? >> investigators say that he -- there was no evidence that his wife played an active role in his scheme. >>> coming out, a warning for cell phone users. what models amid the most dangerous radiation? >> i don't want to hear daytime gunfire when i go shopping at a grocery store. >> local residents fear that peace and quiet will be a thing growing up we didn't have much, but education was always a priority. my mom sent me off to college with just four 20-dollar bills. so i know that education is the best investment virginia can make for our children and in our f narrator: endorsed for governor by classroom teachers f

the new york trustee overseeing the liquidation of bernard madoff's assets says he plans to sue his familye says he will sue his two sons and a niece. it blow over $150 million was loaned, paid or transferred to family members. i am lauren sivan. now had to on the record with greta. greta." greta: the vice president was talking about the stimulus plan worth 787,000 -- $787 billion. joining us is steve moore, an editorial writer for "the wall street journal." it is very hard for people who do not have a job. >> yes. we have got a mere 10% unemployment rate. we have 50 million americans unemployed, and the truth is, ever since the stimulus bill has been released, we have been losing jobs -- we have 15 million americans unemployed. the truth is, this is not working very well. it is working much worse than the obama administration and joe biden thought it would. they said back in january, they would pass the stimulus, and we would have an unemployment rate less than 8%, and in fact, we have an unemployment rate close to 10%, and we have lost more jobs. it is hard to see how anybody could -- it

. >>> two months after he was sent off to prison, the auctioning off of bernard madoff's assets is gaining some steam. the crown jewel is bernie and ruth madoff's penthouse apartment in new york city. it was seized by the government in july. their beach house in the hamptons and two yachts. >> the apartment represents a lot of hard earned money that a lot of people entrusted with this man and he stole their money to live his lifestyle. >> now madoff's victims in massachusetts got the welcome news. the secretary of state announced a major settlement that calls for full restitution. >>> the station wild fire in california is about 60% contained. crews are trying to set backfires to burn away some of the tender that is fueling the two week old blaze. the fire blackened 250 square miles of the angeles national forest. nearly 80 homes have been destroyed. two firefightersrsdied in the blaze. 11 more were injured. >>> marine biologists are trying to track the unusual movements of great white sharks off cape cod. the discovery had beaches closed for a fifth straight day at 8 to 10 feet each. they

. >> that was bernard madoff. >> what's ahead in sports? >> we are talking football, of course. football season is officially here. redskins' offensive line faces a stiff challenge against the giants. plus rookie brian arack poe set to make his mark. >>> passengers who fly out of dulles international airport will see new security measures starting next week. the security screening will take place at a new permanent facility. keith garvin reports. >> this has been an improvement that has been long in the making. >>> we are obviously having a problem with that report. what is going on at dulles, they decided to move that security area away from the ticketing area and move it downstairs for reasons they say will make it easier for everybody involved at that airport. we'll try to get that report for you later in our broadcast, if we can. >>> other news tonight, mexican officials revealed why a guy hijacked a plane yesterday. mexican police released their video of the incident today. a man from bolivia jamd jose flores hijacked a flight in cancun. he showed the flight attennt a juice

the complaint they mentioned they believe the investment portfolio of finra was invested with bernard madoff>> guest: correct. >> host: you said you are a victim, as well? >> caller: yes, i am. >> host: how so? >> caller: i invested with bernie madoff for half my life, about 30 years, and i lost everything that i have. i'm actually involved with a group of of other victims, bernard madoff victims, it is a website where victims, 400 victims have come together to try to find justice and restitution. >> host: why did you invest with him? >> guest: i invested with him because he was rock solid. he was known to be a pillar of wall street and i had talked to other people that invested with him and were successfully withdrawing money. it wasn't a black hole that the money went into. we researched him and did our homework and there was absolutely nothing wrong with this man. >> host: let me read an excerpt from erin arvedlund's book and get your reaction. she wrote, this high level of trust led smart and savvy people, especially in the jewish community, to invest with madoff over the ensuing years w

this is bernard madoff's study. we're surrounded by cherry wood from the walls to the molding.bernard madoff's desk where he did most of his work, where he spent the last few days of his free life. >> i love the u.s. marshal service sort of walking us through as the real estate agent, don't you. location here not necessarily opulent. that gentleman there said that he hope that 8 to $10 million is what this place would fetch. it's listed as a three bedroom but in case you're interested, it really is only one bedroom because two of those they turned into his and hers studies. there are chandeliers, there's nice floors, a beautiful kitchen, four fireplaces, a staircase between the 11th and 12th floors. all of the belongings will be auctioned. there is a lot of art and furniture. we don't know when that will be auctioned but they are listing this. we showed you the montauk place. we're told there were 23 showings and maybe 70 brokers who came through to see it. so they are drumming up support for the victims. >> very lovely, maybe a little less opulent than the beach house but valu

a richly decorated new york city penthouse where bernard madoff lived for 25 years before heading to prison. u.s. marshals seized the apartment over the summer along with his long island home. at 4,000 square feet they value it 8 to $10 million. then there is madoff's palm beach vacation home. five bedrooms, seven baths with a private dock for his boats. like in new york, meticulous closets a big emphasis on shoes. they hope though bring in $320 million. this will pay back victims. it is a drop in the buck but at least it is money coming in. >> the space shuttle discovery is scheduled to return to earth tomorrow t. it pulled away from the international space station yesterday. last night the shuttle's crew did a survey for any signs of damage that could delay their return and no problems were reported. >>> it is seven after the hour. >>> ahead a hero central update. meet a young athlete who is defying the odds an helping others. >>> and in ten minutes a new farmers mark could be coming to the district. why it could mean a traffic mess. right now focus on maryland's weather and traffi

time for a "living $mart" report and jessica doyle is back and you say there's good news in the bernard madoff scandal. >> isn't it good to get good news in this case. it has been the largest ponzi scheme in history and it turns out half of the accounts for people that invested with madoff didn't lose money at all. in fact they took out more money than they put in the first place. federal prosecutors in new york made the revelation yesterday. madoff is serving 150 year sentence after cheating thousands of investors out of billions of dollars. >>> eight local companies from law firms to hotel giant are among working mother magazine's hundred best companies. the annual rankings recognize commitment to family friendly policy and the winners are arnold and porter, mclean booze allen hamilton, capital one financial, covington and burlington, discovery communications, financial industry regulatory authority, freddie mac and marriott international. >>> want to make a lot of money? design a smart phone app. our partners at "usa today" report it is hard to hit the jackpot but for people who do it is no

exchange commission got called owned the carpet by lawmakers yesterday for failing to prevent bernard madoff'snvestment scheme in history. the committee held its second hearing to investigate the problems and improve the agency's performance. committee chairman chris dodd summed in the day when he said there can be no excuse for that close sal failure. it comes one day after e they released a conversation madoff leincturg colleagues on t how to avoid being scriewt tinnized by the sec. >>> they reporismonth the montet median sales pricicfor a local meas wa just under 357,0 two% less than the most rent list price, nationwide selling n r 3.3% less. they say 22.1% ueen ay s 22.1% of inshwagton area selfers have lowered their original list price at least once in the last 30 days, the average reduction, 6.8%. moy neshmoney saving tip of the day. this 1 for you golfers out there. longing to a country club can cost 500 dollars or month, to cut the cost consider volunteering at a golf course, if you work a couple of hours many will give you free golf any time you want to play and some even bring you gu

. >>> we are back with new revelations and new questions involving bernard madoff's massive ponzi scheme. >> that's right. the questions are being raised by congress. the senate banking committee is holding a hearing right now into why the securities and exchange commission did not know about madoff's fraud scheme for more than a decade. among those who are testifying and you see the senator from rhode island, democrat, among those testifying. the sec inspector who revealed in the report last week how the agency bungled five investigations into madoff's business, more than 16 years. >>> officials released audiotapes of a phone call in 2005 which madoff tried to coach a potential witness about how to fool the securities and exchange commission. >> you don't have to be brilliant with these guys. >> you don't have to be too brilliant with the sec. three years to the day after that conversation, madoff confessed to the largest ponzi scheme in history and is now serving a 150-year sentence. more of what our viewers need to know. preacher under arrest as god wanted him to hijack the plane in m

an unidentified buyer has apparently snatched up bernard madoff's beach front home in new hampton.he broker says the buyer cited more than the asking price of $8 .75 million. the proceeds will help pay victims of the ponzi scheme. housing secretary rose 1.5% last month to the highest level in 9 months. a surge in apartment buildings offset a decline in single family construction. and americans' wealth increased for the secretary quaurdond qua first time in two years. it grew 4%. americans' network remains far below its peak of $65.3 trillion. that was reported back in -- towards the end of the year in 2007. that's it from cnbc first in business worldwide. now back to msnbc. >>> welcome back, everyone. i'm alex witt. >> and i'm norah o'donnell. in "the big picture," the white house again today tried to distance itself from former president jimmy carter's remarks that race is motivating some conservatives to launch attacks on president obama. white house press secretary robert gibbs said the president doesn't believe race is a factor, but he is calling for more civil debate. >> i thi

swindler bernard madoff on tape teaching how to avoid s.e.c. yeah, that conversation took place. ( conversation ) garth, you're up. hold on, i'm at capitalone.com picking a photo... for my credit card. here's one from my prom. oh, what memories. how 'bout one from our golf outing? ( shouting ) i know, maybe one of my first-born son. dad, mom says the boys gotta go. personalize your card by uploading... your own photo at capitalone.com. what's in your wallet? ♪ tylenol pm quiets the pain that keeps you awake. and helps you sleep, in a non-habit forming way. wellbeing. we're all striving for it. purina cat chow helps you nuture it in your cat... with a full family of excellent nutrition... and helpful resources. ♪ purina cat chow. share a better life. >>> we're learning more about the inside world of disgraced financeer bernie madoff this morning. phone conversation just released. in this 2005 phone call, he coached a potential witness on how to fool federal regulators. this is how that call began. >> obviously, first of all, this conversation ne

convicted ponzi schemer bernard madoff's belongs, boats and clothes and homes are on the auction block this hour. we go inside his mansion. >>> good morning to you i'm tamron hall. >> i'm alex witt. >>> right now, supreme court is hearing oral arguments involving the 2008 documentary critical of then presidential candidate hillary clinton. at issue whether the movie should be regulated as a campaign ad. this really will have implications on how corporations and unions can spend money to influence elections. >>> in afghanistan, "the new york times" reporter is freed this morning after british commandos rescued him from his taliban captors. a british soldier and translator killed in the operation. >>> mark sanford is speaking out again on a radio show. he says politics is behind the campaign to have him removed from office. >> the moral wrong was all mine. the consequences is past and future are mine and i'm working through those. but there is a very different story that has led the headlines of the last month and a half to almost two months and that is been a battle out of spending thin

we've got some breaking news on bernard madoff, crook that he is.ease some interesting tapes, telephone tapes. he's trying to cover his tracks. let's call in scott cohn, our ace correspondent on this story. he's got the tape and the breaking news. what can you tell us? >> hi, larry, 2005 and the securities exchange commission is looking at his investors. madoff and the fund company get on the phone ahead of time to get their stories straight and the first words out of bernie madoff's mouth pretty well set the tone. listen. >> obviously, first of all, this conversation never took place, okay? . >> we obtained this from the massachusetts secretary of state's office which just settled a complaint against greenwich group, settling for $8 million. he tells them, whatever you do, don't tell the sec you have anything in writing. >> the best thing to do is not get involved that you sent written instructions. anytime you say you have something in writing they ask for it. >> okay. >> the next thing to do is to say it's a phone call. >> not that bernie madoff

a hearing to find out how the securities and exchange commission failed to detect bernard madoff's ponzi scheme. last week the s.e.c.'s inspector general said they botched five probes of madoff's business since 1992. treasury secretary tim think geithner testified on tarp today. joining me now from washington, hampton? >> maria, well, first of all, the treasury secretary told the oversight panel he's made no decision yet on whether or not to ask for an extension of t.a.r.p. and geithner was repeatedly asked just what is it taxpayers have gotten in return for that $780 billion investment in shoring up the financial system. >> you have a financial system that is more stable. credit is more available. people can borrow at much lower cost. and the taxpayer of the united states can see in the investments we made in the banking system returns in terms of actual billions of dollars. >> however, the five-member oversight panel was skeptical, raising questions about using t.a.r.p. money to bail out gm and chrysler. does treasury know the actual value of toxic assets. still on bank balance sheets.

story if you live on the east coast. 71 degrees. >>> christine romans is here, today you're on bernard madoffyachts. take a look at the three boats that bernie madoff the famous jailed ponzi schemer had. the u.s. marshals seized these. this one there, the bull, 55 feet, 1969 custom made yacht, has an elevator up to the flying bridge though i can't see, must be a little platform that goes up. almost too much. the engines have 60 hours on them. completely rebuilt. that's it. rebuilt these engines. 60 hours on them. it was shrink wrapped when it was seized. the bull painting. of course. i love the bull references. it was seized affidavit april 1 and shrink wrapped. there are three boats, actually, kept now in ft. lauderdale. a 38-foot runabout. >> u.s. marshals taking a tour. >> i gave them a rest this hours. and a 23-foot maverick for weekends. so three boats, all at ft. lauderdale. interesting the marble shalls hope that some of the notoriety, the boat buyer circuit might mean there is good demand. imagine if you are a prince you can say look, this is bernie madoff's yacht. i don't know if tha

supervisors discouraged further investigation -- in short, because the sec failed to do their job, bernard madoff stole $50 billion. to date with your complete called inspector general about his report. guest is an investment analyst to continually attempted to get fcc -- sec attention in regard to the madoff fraud and his ideas about improving the organization, and we will hear from the division of enforcement about what the sec has done in light of the revelations, and about what chairman shapiro intends to do going forward. there are several clear steps that i believe, and i hope my colleagues and others agree, need to be taken. the sec staff should be trained in market and investment strategy so they can no -- no fraud when they see it -- know fraud when they see it. they should be able to verify statements made by targets in investigation, and coordination between the sec office and divisions must be improved, a point i will come back to over and over again. the sec is not the only organization suffering from stovepipe mentality. but here, you share knowledge arriving at decisions deciding w

this is bernard madoff's study. we're surrounded by cherry wood, from the walls to the molding.ork and spent the last few days of his life. >> they will be selling this little get-away in palm beach florida. madoff put its value at $11 million. $2 million yacht. proceeds will go to madoff's victims. >>> a trip organized by a high school football coach in kentucky have a lot of parents livid. this trip has nothing to do with how you play the game. wait until you hear where the coach took the football team without the parents' permission. are you outraged? for all the moments that make every day special. fancy feast introduces an entirely new way to celebrate any moment. fancy feast appetizers. simple high quality ingredients like wild alaskan salmon, white meat chicken, or seabass and shrimp in a delicate broth, prepared without by-products or fillers. new fancy feast appetizers. celebrate the moment. should we order nda blossom, panda moon... how about chinese at home with new wanchai ferry?, you can make it in just 14 minutes mmmh, orange chicken. great. i didn't feel like goin

after it failed to protect investors from the multibillion dollars ponzi scheme of bernard madoff, s.e.c. directors told a senate hearing on thursday there will be major reforms to improve the agent's ability to spot fraud. one initiative will be to cut 40% of management positions and simply spend more experienced employees into the field to do investigations. also endowments plummeting for two top schools in the united states. harvard and yale saw major drops in the latest fiscal year. harvard's endowment fell 27.3%. yale suffered a 30% loss. for harvard, this is the biggest funding available in the coming years. >>> brian, japan's asahi brewery has denied reports that it is in talks to buy orangina. only yesterday it reported it was interested in the brand. it could be worth as well as $3.8 billion. and the reports say that a deal could be announced today. loui louisa, i love orangina, don't you? >> yes, i do, actually. but the canadian auto supplier magna has promised investors and clients that it will guarantee a, quote, complete separation of its business with opel. magna and its pa

jane: testimony being taken on why the governent failed to catch bernard madoff, even though the secf about his plans over several years. new audio tapes revealed that madoff was also coaching others on how to fool the feds. let's get to atom in d.c. for us. these tapes are amazing. >> they are, especially when yo3 for the sec examiners who completed the report. 500 pages can out last week saying that essentially they were inexperienced, failed to follow up on leads such as catching him lying. actually caught him lying but let it go. other things that could have been obvious red flags. but in these recordings, he is telling these guys how to talk to investigators, essentially saying to play it cool and not give them a lot of information. listen to the swindler in his own words. >> when you speak to these guys, you are not supposed to be exact on stuff. no one pays attention to these types of things, who calls, who doesn't, who remembers. it is basically more casual. >> back to you. jane: thank you very much. jon: there was an incident last night in the house chamber as president obam

it was weird, because the house was in foreclosure when the owners lost money to bernard madoff. of wells fargo, the bank that foreclosed on the house, had been fired. it seems she filed for closure and heard opportunity knocking. she was also head of the company's real-estate division. he says that he deeply regrets the situation. bill: you lost money to bernie madoff, and somebody is having a good old time in your house in malibu and. joe biden making a surprise trip to baghdad this morning. he landed two hours ago. he has made a number of trips there. why is he there? >> that is right, bill. his second -- his third trip this year. they are not giving any details, but we do understand that the vice-president has already met with the u.s. command in iraq and with the u.s. ambassador here. he will, of course, be talking with iraqi officials and government, and he has a meeting planned with united nations, also. despite the drawdown of troops, and despite the refocused attention in afghanistan, joe biden will definitely be talking about the security situation here, which has deter