wait until you hear how much bidders were willing to pay for items related to bernie madoff.

>> you want to walk around going, i got bernie madoff's -- is that something to be proud of? yeah, i know. but, the good thing is, right -- >> yes, the money will go to madoff's victims and auction organizers say it could be half a million dollars and half a million dollars between all those people is not much but this all adds up, be right, you see there they're trying to sell off some of the homes -- i think that's the palm beach place. i'm going to assume that's not the penthouse. it doesn't look very new yorky to me. they have the house in the hamptons. they have houses all over. >> don't they have a house on the northeast coast, too? >> that's the hamptons house in montauk. i'm just sit there going -- >> look at the face. i'm sure it's just not a print. all right, jen, thank you. >>> it's not unusual for a former governor to give a speech at a university but this former new york governor was forced out by prostitution scandal so why did the university decide eliot spitzer would be a fine, fine person to come make a speech? ♪ because i have a roof over my head ♪ ♪ the wom

bernie madoff may have been an even bigger ship wreck. >> the auction brought in more than $900,000 for the victims of madoff's ponzi scheme. >>> your gold jewelry is worth a little bit more this morning. while you were sleeping the price of gold hit another new record. an ounce was trading for more than $1,130. >>> then you have all these people advertising their gold par tis. you seen advertisements for those around your subdivision? >> yep. >> come, trade in your gold and you get money. >> apparently not enough if it's hitting that kind of a price, right? >> i don't think you could get $1,000 at the gold party. >> i don't think so. >> some people are like, hey, it's convenient. >> so far so good across the air right now. not looking at any delays. that's going to change. live to new york city, you want to see a nice beauty shot. look at central park, robin. how nice is that? >> so pretty. >> your temperatures today low 60s in the new york. winds stuff, 20 to 25 miles per hour out of the north. watch for some delays in the air around new york city. talking about jfk, laguardia, newark

house dems were split on the controversial amendment. >>> the bernie madoff auction brought in more than000 for an auction. it sold for 20 times more than what they expected. diamond earrings, $70,000. one buyer explain eed her fascination with madoff stuff. >> it's like getting a plate of china from the titantic and bernie madoff may have even been a bigger ship wreck. >> just about everything up for auction sold far more than the auctioneneers expected. >>> the pace shuttle "atlantis" should be on its way to the international space station some time this afternoon. nasa plans to launch it from the kennedy space center at 2:25 eastern. they'll see the launch close up so they can tweet about it. they will reach 150,000 twitter followers. >>> so you got this really old program from the '80s, the space shuttle program and new media, twitter, people following it. >> what's going on, robin? forecast for them right now. you saw the low deck of clouds hanging in there and i think it will break up. what is it about 2:30 or so, the cloud cover. the wind shouldn't be that bad. it should not rain

that is a lot of wine. >>> how much would you pay for a piece of bernie madoff? that mets' jacket have you been seeing pictured of with madoff's name on the jacket was auctioned with more than $14,000, 20 times more than expected. ruth madoff's diamond earrings, $70,000. one buyer explained the fascination with madoff's stuff. >> it's like getting a plate of china from the "titanic" and bernie madoff may have been an even bigger shep wreck. >>> all said, the auction brought in more than $900,000 for the victims of madoff's pensee scheme. the value of your home could be dropping but it could be a different story next year. the national association of realtors said home prices are expected to rise about 4% in 2010. good news in a bad economy. the group says the extension of the home buyer tax credit should continue to boost sales and, therefore, prices. u unfortunately this year priceless drop 13%. >> i absolutely agree. >> do you want your view to be hea heard? take part in "your views" question of the day. richelle carey is here to tell us what the afternoon team

. >> reporter: fast bidding to buy a piece of bernie madoff, anyone could watch online. >> 10,000. 0. 20. now 30. >> reporter: inside the auction, no cameras allowed. here is part of madoff's spread at a preview. more than 51 watches, lots of gold-studded rolexes among them. this a wear watch from world war ii sold for 65 grand. ruth madoff's ear rings estimated at around $21,000 went for -- >> 73-5. >> reporter: $70,000, more than triple their projected worth. his house sign valued at 20 bucks sold for 2,000. his decorative buoy took in $7500. madoff's custom silk mets jacket worth about $500 went for more than 14 grand. a retired st. louis business man flew in for the auction, ready to spend big. you snagged a number of items. you have any idea how much you spent the? >> no, but i'm sure it was in the six figures. >> reporter: he's taking home a bundle of jewelry including these pearls for $1200. four times their estimated price. surprise gifts for his six grand children on an upcoming crews. >> we're going to make them take numbers and take a piece of jewelry. >> reporter: madoff

wait until you hear how much bidders were willing to pay for items related to bernie madoff. >>> the mother of a missing girl charged with human trafficking. and it's not the only crime she's accused of. but still no sign of 5-year-old shaniya davis. now some of these suspected terrorists could be headed to a much colder climate here in the u.s. >>> plus -- >> the care, the love that's coming from home to remind us, please come home. let's go pack a box. >> how you can lift the spirits of some of our troops fighting overseas. hln news and views. hello. i'm holly firfer. we've learned where some of the terrorism suspects held at guantanamo detention center may go when they're transferred to the u.s. for trial. this prison in northern illinois is a leading contender to house those detainees. it's about 150 miles west of chicago in the small town of thomson. illinois governor pat quinn describes the prison as state of the art and virtually empty. the local government offered the facility as an alternative to g gitmo. the decision would provide thousands of jobs. >> we have a chance to b

fascination with madoff's stuff. >> it's like getting a plate of china from the "titanic," and bernie madoff may have been an even bigger ship wreck. >> ruth madoff's diamond earrings brought in $70,000. just about everything up for auction sold for far more than the auctioneers expected. >>> general motors is still struggling. the carmaker reported a loss of $1.2 billion from july 10th, the day it came out of bankruptcy, to september 30th, the end of the third quarter. there is some good news, though. some. gm says it will start repaying government loans early. anticipating it will pay back $1 billion next month, since the end of 2008, if you are counting, we as taxpayers forked over $50 billion to help gm out. >>> and 2 looks like we're opening up our wallets more. it may about key sign the economy is recovering. retail sales rose more than expected in october. the government reported a 1.4% rise thanks in part to strong demand for cars. nearly half a percent more than most analysts expected. quite a turnaround. retail sales had fallen more than 2% the month before. >>> home owners in fina

you know, bernie madoff is in jail, and whoever thought up this program and scored it in this bill, bernieadoff would be proud of that person. i mean, he would say my type of guy! that's the way you do accounting. fake it. it's unbelievable. there are a whole series of these types of games in here. the states, the states are just going to be taken to the cleaners by this bill. the allegation that you're going to expand medicaid by 20 million to 30 million people and the states aren't going to end up paying a huge bill as a result of that? absurd on its face, absolutely absurd on its face. more importantly, when you expand medicaid by 20 million or 30 million people, the doctor will tell you back here the reason medicaid is in such dire straits is because doctors won't see medicaid patients. why? because they're reimbursed at 60% of the costs. who pays the other 40%, by the way? of the present medicaid recipients, who pays that other 40%? i'll tell you who pays it. mary and joe jones who are working down at the local restaurant and have health insurance, they pay it with their premium. bob

. >>> the belongings of bernie madoff will be auctioned off. among the items, that, a personal personalalized mets jacket. hundreds of pairs of mens shoes all bought with somebody else's money. but the collection is largely underwhelming. that's sports. >>> boston is a well-known city, right? in addition to the history, it's the setting for several tv shows. but there are still some hidden gems in beantown in this week's my city, my secret. >>> hi, i'm barry marshall. i was born and raised here in boston. and i'm going to tell you about some of my favorite places. this is c.o.'s cozy corner here in the north end. a great place for breakfast and lunch. i like the brazilian food at night. the mukaka, the brazilian fish stew. i think the bridal book shop is fabulous. it has a lot of good bargain cheap deals but all the way up the scales for valuable rare first editions and old books. i looked up and a 1929 boston phone book my grandmother's phone number and i found it. this is loony tunes. a lot of great music i learned how to play i learned off o

tons of stuff from convicted swindler bernie madoff and his wife will be auctioned off tomorrow. jennifer westhoven has the inside scoop. give you the run down. good morning. >> how would you like to be the proud owner of stuff owned by madoff? i don't know. all kinds of his personal items are going up for sale. boogie boards used at their beach home. post-it notes. fur coats. a blue satin mets team jacket. on the back, madoff. his rolex is up for sale. one of the models is called a prisoner's watch. >> how many did he have? >> 17. >> that's just one brand. all the money will go to madoff's victims. it is going to go for some good. robin, you're cooki ining the ty right? >> i'm working. someone else is cooking. >> the good news for everybody out there who is cooking and spends a lot of time on this, it's going to cost you less. the american farm bureau sent out shoppers to get average prices. for ten people the bottom line is about $42.91. they were looking at all the ingredients. one of the main reasons they said it's going to be cheaper is because milk costs less. also a 16-pou

bernie madoff's items. i don't know if we can afford any of them, though. >> i think you probably can. >> cannot. >> no, i think stomp of them aren't going to go for too much. but the point is, it really is all for a good cause. >> pay back all those folks. >> that's right. it's all going to go for the victims. here's what you could afford, the boogie board. >> okay, there you go. >> boogie boards from their beach homes. i think i saw estimates they would be about $80. some of this stuff, we're talking about jewels, these are some earrings that likely belonged to ruth madoff, his wife. designer handbags. fur coats. post-it notes. that's one of the things. here you're looking at this is a mets team jacket that was emblazoned, obviously, with the madoff name. i don't think anybody would be wearing that to the stadium lately. you'd get a drink poured over your head. >> yeah. >> still could be a collector's item. and you know, it really does go to a good cause. that's one of his rolexes. is that the plural of r

. >>> the belongings of bernie madoff will be auctioned off today and among the items, a personalized jacket. more than a dozen rolex watches and mens shoes. no, i don't know the size. that's sports. >>> did you know clark howard serves in the georgia state guard? this weekend sh you will see him serving our troops. clark and our own robin meade teamed up to help soldiers save more, spend less and avoid getting ripped off. >> you want to talk about investing in a certain plan. >> since becoming parents in the last year, my wife and i have been concerned with the forecast of our higher education. 17 years from now, they're forecasting about $17,000. i've invested in my state's 529 plan and i was wondering what your thoughts are on that. >> it's a college savings plan. put money into it and all the money grows tax-free as long as the money is used for college, all the earnings are tax-free. so it is the absolute best vehicle to save for college. and so you're doing to right thing. what state plan are you in? >> virginia and actually made a decision to remain a virginia resident because

that's why this is bernie madoff accounting. it's a sham. it's a sham. it's a sham to make people pay taxes and have their benefits cut at the -- for four years and then only after four years do the benefits kick in. that's the way with this kind of accounting they get to deficit neutral. it's crazy. it's crazy. so you increase taxes in medicare cuts begin impacting americans and our economy in 32 days if this were passed. let me repeat this. starting in january, 2010, just one month from now, a majority begins tax increases and medicare cuts. starting in january. incredibly delays implementation of this bill for four years. that's 1,460 days and 208 weeks of new taxes and medicare cuts before implementation. that is playing games with the american people. if they weren't playing games by delaying the implementation of the bill four years after the tax increases and medicare cuts, we wouldn't even be discussing this pile of legislation because it would be scored as adding over a trillion dollars to our deficit. if the other side wanted to be honest and r

we saw what happened with bernie madoff. ve the sec a color-in-the-dots, step-by-step map as to how to find madoff's ponzi scheme. you didn't need new laws. they just didn't do it. if you look why, it's because the agency has not been strong the way they were 20 years ago. they don't have the resources. they don't have the technological resources. they don't have the resources to hire enough people and frankly, they don't have enough resources to hire the kind of skilled people who might get paid somewhat of a higher salary and who would stay in the job for years. now these days, you work for the sec for two or three years and go to the other side. no one over there develops the skills that are needed to go after the kinds of fraud and abuse that we know will always be with us. by simply allowing the sec to retain the transaction and registration fees it collects, the bill would give the sec access to hundreds of millions of dollars in additional funding over its current budget. i heard my colleague from louisiana say, well,

move over, bernie madoff. tip your hat to a trillion-dollar scam. this is magnificent, and that's in this bill. i'm glad that all americans can read it. they can check out the sections that i cited. even the congressional budget office has called bull on this stunt, saying it would be difficult to maintain the predicted savings the majority has been touting. no wonder. and the true costs, as the senator from new hampshire has pointed out, is $2.5 trillion. in fact, but it will also be increasing taxes. and, in fact, everyone will be taxed one way or another. forget what the president promised about no taxes. sections 9004 and 9010 will tax americans who have insurance. section 1501 will tax americans who don't have insurance almost $8 billion. taxes will be placed on medical device manufacturers and 9009, and as the c.b.o. has said, those taxes will be passed on in the form of higher prices and, thus, in the -- in the form of higher insurance premiums. because of the tax on health insurers, section 9010, the c.b.o. and the joint committee has said t

it in this bill bernie madoff will be part of that person. he would say my type of guy. that is the way to do the counting. fecund. it's unbelievable. there are a whole series of these types of games in here. the state's, the states are going to be taken to the cleaner by this bill. the allegation that you are going to expand medicaid by 20 to 30 million people and the states are not going to end up paying a huge bill as a result of that? absurd on its face. absolutely absurd. more important when you expand medicare by 20 or 30 million people the doctor will tell you back here the reason medicaid is in such dire straits is because doctors won't see medicaid patients. why? because they are reimbursed at 60% of the cost. who pays the other 40% by the way of the present medicaid recipients? who pays the other 40%? i will tell you who pays it. mary and jo jones working at the local restaurant, they paid with their premium. bald and marie black working over at the local software company, they pay with their private health care premium. the 40% of

which is the audience getting to hear, what regulator had to say about bernie madoff? >> no, i just -- look. i'm glad he got caught. i'm glad he's getting the punishment that he deserves. i think there's still a lot of investigation to see if there were others who benefited from what madoff did. i hope we take some lessons away from this in terms of strengthen the fcc as part of the overall effort to make sure we detect these schemes early on and take action. >> go to your questions now. and allow you to see that gentleman there. >> you and your colleagues were able to answer me to the west which is very positive support for the pace, bonds that allow us to have properly assessed clean energy bonds out there. so the waxman-markey bill does have that support. do you have any thoughts in terms of generally speaking whether it's prospect in the senate are equally as positive? how do we encourage the public and private and investments in energy efficiency and solar? >> right. i thought that was an important provision we had in the house bill for more financing provisions b

what is the first thing that comes to mind when i say bernie madoff, what's your first reaction? >> throughout the division and agency, we recognize that madoff was a terrible tragedy. we something that we deeply regret. it's clear from the inspector generals report that we did not do the job that we should. we've acknowledgeed that for some time. mostly, the terrible tragedy. we understand the consequences for the individuals for retirees, for charitable institutions, and we've taken that lesson across the agency in every division. and we have an attempt to give some meaning to this. rewatched is procedure, structures, and programs in a way that we can avoid this from happening again. >> let me ask you again. in august, some the enforcement division that you started to push through. can you site something specifically that you think would have made a difference in this case that could have caught before what ultimately happened? >> well, i guess a couple of things. we are creating specialized groups that focus on particular areas of transactions, markets, practices, products, jus

it makes bernie madoff look like small potatoes. in terms of iou's, it will be tough to pay back down the road. we knew we needed to put a huge sum of money in. we see the books and articles coming out recount in the day by day, -- recounting the day by day drama. that is easy. that is easy to do. here are three questions that really follow from that. one, who is going to pay for it? two, what reforms do you impose on the system at the moment when you have both the leverage to do it and the cry for it and, given the way politics works, the only opportunity to do it? because we all know that christie's last for 24 hours and when to pass the crisis, -- crisis lasts for 24 hours and when you passed the crisis, status quo begins to reassert itself. and 3, how you underline what has been going on here. the first one, everybody says, that is kind of obvious, we all do the company's -- we all do. there were companies left with enormous bonuses. in terms of the statement made and the appropriateness of the remedies that should have been con

the bernie madoff addition. actually, c-span, if you would come in a little closer you will see that this is $9.95 at barnes & noble. [laughter] >> but anyway, i thought this isn't like a typical national book awards type book. but you know, maybe this year the judges were going to be on a i don't know, imagine a. they can give it to fill across every year, right? so then i opened the envelope and i saw that in fact they were asking me to host the awards. and you know what? i was like that's cool, that's cool to. because it is an honor. it's a big honor that and it's also probably good for my career because on the next edition of who moved my soap it will say from the national book award hosting writer. [laughter] stack and that's awesome that no one knows what that means that it's like national bestseller. nobody checks to find out. [laughter] >> that meant you were a bestseller for one week in accra. no one checks. as i read this letter from the national book foundation, it did start to wrinkle a little bit be

back to the bernie madoff, just curious what congress is thinking. the reaction to enron and all of the world and the rest which of course didn't really do anything good at throwing people in jail. what throws people in jail are policeman. the concern is with bernie, we're going to get a whole nothing raft of regulations, but still no policeman to throw the bad guys in jail. any initiative to try to put more policeman on the beat? >> i think there is an effort to strengthen the fcc and beef up it's investigatory powers and capabilities in terms of providing more resources. one the bills the congress has passed and since the president was the creation of a commission. that it is underway to begin to look at all of the things that may have gone wrong. i'm not talking about just within the financial system generally. but in terms of fraud within the system, similar kinds of schemes. and hopefully that investigation will come up with some recommendation to take further action. but i wanted to distinguish between the very important effort to try and beef

why not bernie madoff speaking to financial planners? i wrote back that because i was intrigued by this somewhat medieval ethical notion, it would be just to punish students. perhaps he would like to keep out of the next ethics committee. -- keynote on the next ethics committee. i am in the business of helping train the next generation of journalists. regardless of what you may have heard, there will be a next generation of journalists. i have had the privilege of working with some of them. they're going to be even better than we were. and we were very good. they're calling will be to engage the people that are at the center of major events of their time. not through e-mail, but up close. our speaker is one such person. that is not to complement him, that is a state of fact. it is the kind of person that we should be prepared to engage in to confront. i also want to know as much as i can about the gsmart, idealistic people that do things that are personally and institutionally destructive. this is tricky stuff. when you talk about contex

. >>> bernie madoffs 55-foot yacht is the latest of his personal things headed for the auction boat.t and his mercedes could dech several million dollars. the proceeds will help investors who lost money in the ponzi scheme. he's certain serving a 150-year prison sentence in north carolina. >>> if you plan on stocking up on coca-cola products, why costco is upset with the soft drink giant. >>> president obama wrapped up a busy day in china with sight seeing and a lavik state dinner his honor. earlier, a closed door meeting with the president hu jintao. they're working together on ending north korea's nuclear program. and also joint solutions on climate change. >> as the two largest consumers and producers of energy, there can be no solution to this challenge without the efforts of both china and the united states. that's why we've agreed to a series of important new initiatives in this area. as president hu indicated we are creating a joint clean energy center, and have achieved agrimts on energy efficiency, renewable energy, cleaner uses of coal, electric vehicles and shale gas. >> h

. >>> new this morning, thousands of people who got ripped off by bernie madoff are closer to getting some of their money back. an auction of madoff's boats in florida that raised more than $1 million. a both of madoff's sold for $700,000, all the money raised goes to victims of madoff's ponzi scheme. he is serving a 150-year prison sentence. >>> a new jersey woman has found a unique partnership between two unlikely bed fellows. robin meade has the story of an effort helping those in need this week's "leaders with heart." >>> a natural disaster inspired mary to help others. >> my sister lives in galveston, texas. her house was eight feet of water. everything was destroyed. >> while gathering what she could she reached out to hotels after a friend told her that they throw out old linens. >> when i drove up there were 10 bags of bedding, more than my sister needed. >> that sparked her to start green recoverings, a donation program that connects hotels with shelters. >> i contact hotels which could be in my area or all over the country, and see if they are interested in donating their us

. >>> you can buy a satin new york mets jacket that once belonged to convicted swindler bernie madoff. madoff and his wife's personal belongings will be auctioned on saturday. can you buy their silverware as well. if you want their stationery, that will be there. prada purse. not sure which it belonged to. and meanwhile, that baseball jacket is worth up to $700, and it has his name on it. >> i think a lot of people might want to burn that, richard. >> they will buy it so they can burn it and do other things because they're so angry. >> i still hope they pay at lot, though, just because it goes to the victims. >> because they do need to get that compensation. >> yeah. >>> there's word that insurance giant aig may be able to pay back all that money that it borrowed from the taxpayers to stay in business. that's billions of dollars, jen. >> can you believe it? >> i want to hear the details here. >> yeah, it's a bet. we don't know. this is one analyst's opinion but this could be good news in a bad economy. you remember insurance company aig. well, according to reports, moody's, a big fina

why not bernie madoff speaking to financial planners?te back that because i was intrigued by this somewhat medieval ethical notion, it would be just to punish students. perhaps he would like to keep out of the next ethics committee. -- keynote on the next ethics committee. i am in the business of helping train the next generation of journalists. regardless of what you may have heard, there will be a next generation of journalists. i have had the privilege of working with some of them. they're going to be even better than we were. and we were very good. they're calling will be to engage the people that are at the center of major events of their time. not through e-mail, but up close. our speaker is one such person. that is not to complement him, that is a state of fact. it is the kind of person that we should be prepared to engage in to confront. i also want to know as much as i can about the gsmart, idealistic people that do things that are personally and institutionally destructive. this is tricky stuff. when you talk about context, peo

. >> the federal government prosecuted bernie madoff because he let people voluntarily subscribe to hisgram where early subscribers will be paid off with the receipts. they said, how can you come up with such a scheme? he said, a social security. [laughter] >> i have been around politicians for a while. you will notice the republican advocating the abolition of medicare and social security is retired. >> i did not say that. here is the deal. >> you get five seconds. >> now is 15 years old and the government did you have the right to put your private savings into the public plan or private plan, i would have said i will stick with the private. it did not give me that toys. they forced me into the worst retirement plan i've ever put into. >> thank you very much. before we move on, i want to do a quick follow-up with john k. siaseck. do you agree with everything he does said it? -- said an said? -- do you agree with everything he just said? [laughter] >> there was a 31. >> i need a yes or no. do you agree that medicare is "a program i would have no part in in a free world?" >> i do not agr

which the chairman of the senate budget committee has described as a ponzi scheme, something that bernie madoffwould be proud of. this would also take another two added $50 billion to address. all the pronouncements about deficit and cost control are not going to be found in this piece of legislation. as it has been mentioned, the american people understand that and that is why they're winning in so heavily against this and why we need to defeat this. >> the leader has mentioned the use of gimmicks and a lack of transparency. [unintelligible] we're going to the motion to proceed tomorrow, that there will be a bait and switch going on. what we're voting on is three pages. that is the product that the leader will shift to after that. about 20.5 pounds. when we get our thanksgiving turkey, that is about the same size. one of the real dangers, i think, that we're talking about with this health care proposal that the democrats have put before us is the concern about rationing of our health care. we are seeing this play out a little bit this week in the news with the recommendations that came out fro

every bit as deadly as, say, a bernie madoff. >> and you know, the thing is that when you take away the fame, if you don't have a valid identity, independent of the fame, underneath that, that's when you are really in trouble because you say who am i, why am i here. coming up, when the mother of six gave birth to octuplets, she gained international attention. is octomom nadya suleman bonkers for babies or is she addicted to them? >>> toxic secrets and celebrity addiction. a special presentation of "issues." we're shining the spotlight on our addict nation, hooked on drugs, alcohol, power, and even babies. we'll investigate mackenzie phillips' shocking claims that she had consensual sex with her famous father for ten years. phillips battled drugs and admitted trying cocaine for the very first time when she was just 11 years old. we'll look at the impact of drugs, alcohol, addiction. welcome back to our special on celebrity scandal and addiction. can you be addicted to having babies? well, look at octomom, nadya suleman. she appears obsessed with procreating as well as the fame that comes

class act, which senator conrad has described as a ponzi scheme of the first order, something that bernie madoff would be proud of, and the back of the -- they back out of the fee that would take another quarter-trillion dollars to address. all of the stuff about cost control will not be found in this legislation. the american people understand that and that is why they are so heavily against this and why we need to defeat it. >> the leader has mentioned use of gimmickry or lack of transparency. this bill -- [unintelligible] is -- when we go to the motion to proceed tomorrow -- a little bit of bait and switch their. the actual bill we will be voting on is actually about three pages. about 20.5 pounced -- when we get our thanksgiving turkey, it is about a 20-pound turkey. one of the real dangers that we're talking about with this health care proposal that the democrats have put before us is the concern about rationing, rationing of our health care. we are seeing that play out a little bit with the recommendations that came out from the preventive services task force and the recommendations on whe

they just said this poor old guy bernie madoff and the federal government prosecuted him because he let people voluntarily subscribe to his program, where early subscribers would be paid off with the receipts they got from late subscribers. they set out to come up with such a scheme? he said, so security. [applause] -- social security pare. >> i have been around politicians for a while. was one myself. spurred you'll notice -- you will notice the republican advocating the abolition of medicare and social security is retired. >> i didn't say that. very simple. when i was 15 years old, if the government said, you have the right to buy your private savings into this public plan or a private plan. you are free to choose. i would've said fine. they forced me with the power of the state into the worst retirement plan -- >> thank you very much dick . dick armey, thakn you. i have the right for a minute. do you agree with dick armey? [laughter] hold on. let me do this right. these are great quote. >> there is a third one. i did not have a chance. >> do you agree with him that medicare is "a pro

obviously there was bernie madoff. but shouldn't we today in the 21st century, given all the wonderful technologies that exist today -- i apologize for the length of this question but it seems to me it cries out. this is a further example of, instead of waiting around, hoping and waiting for a biffle to be passed by congress, we'd have a responsible regulatory body making these kinds of decisions. doesn't it cry out for an independent consume summer your lawn mauer breaks today, you can call somebody and say, the warren ties aren't there. who can help me out to get my money back from a faulty consumer product. who do you call? when all of a sudden you're mr. livieri. you've been taken to the cleaners. he called his senator. you shouldn't have to call your senator. >> and if he calls the bank regulatory industry, they'll say this is legal. they can charge you any monument, any number of fees, over and over for the same overdraft. there are no limits on what the banks can do in this area. you're correct that a consumer f