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Jun 20, 2010
06/10
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WUSA
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. >> safer: he gave us a tour of bernie madoff's 19th floor offices, an impressive landscape of emptiness. >> his desk was here. >> safer: he has the thankless task of finding the money, the billions that madoff scammed. it may surprise you to learn some of it will come from some of the victims themselves, and millions more from his opulent assets. >> your eyes are drawn directly to the chandelier, which is probably worth a pretty penny. >> kroft: when michael jackson died, he had nearly a half a billion dollars in debt. since then, it's been a very good year for his career. and this is not unusual. decades after their demise, some departed stars draw more income than they ever made while they were drawing breath. there is a growing legion of agents and managers willing to represent them. >> we're a business agent for about 250 entertainment, sports, music and historical clients. but most of those are deceased. >> dead. >> dead. >> they're working stiffs. >> i guess you could say that. >> i'm steve kroft.
. >> safer: he gave us a tour of bernie madoff's 19th floor offices, an impressive landscape of emptiness. >> his desk was here. >> safer: he has the thankless task of finding the money, the billions that madoff scammed. it may surprise you to learn some of it will come from some of the victims themselves, and millions more from his opulent assets. >> your eyes are drawn directly to the chandelier, which is probably worth a pretty penny. >> kroft: when michael...
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Jun 20, 2010
06/10
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WUSA
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of dollars. >> safer: millions and millions isn't nearly enough to cover the billions stolen by bernie madoffe story takes an odd twist. most of the money for victims will not come from the madoff family, but from some of the victims themselves. most people assume that everyone lost money who dealt with madoff. not true? >> picard: we've found that there have been quite a few people who have gotten out more than they put in. >> safer: in fact, about half of madoff's thousands of victims are what picard calls "net winners," people who took out more money than they ever invested with madoff. >> sheehan: we can tell that if morley put in $100 and he got out $200, he got $100 of somebody else's money. >> safer: so, the guy who's been happily taking $25,000 a year out over, say, ten years, he's not going to get a dime out of this? >> sheehan: no. >> picard: not if he took out more than he put in. >> safer: well, say he put in an initial $100,000. >> picard: then, he's already got more than he put in. he's been overpaid. >> safer: and are you going to try and get the difference? >> picard: perhaps.
of dollars. >> safer: millions and millions isn't nearly enough to cover the billions stolen by bernie madoffe story takes an odd twist. most of the money for victims will not come from the madoff family, but from some of the victims themselves. most people assume that everyone lost money who dealt with madoff. not true? >> picard: we've found that there have been quite a few people who have gotten out more than they put in. >> safer: in fact, about half of madoff's thousands...
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Jun 16, 2010
06/10
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CSPAN
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all of the bureaucrats and regulators who failed miserably to deal with the bernie madoff situation, the regulators at the fed -- you name the regulator, they made mistakes in the past. we all know that. what are the democrats doing? they are saying let's give them more power and more money and even more authority, without trying to fix the problem that got us here in the first place. i think it is a flawed approach to the problem. host: hope, new jersey, republican line. caller: we are going to try to have a debate. wondering if you will attend. guest: it is hard to figure out where i will be. sometime during the course of the campaign between now and november, we will do a debate like i have always done in the past years. we will look to set them up some place during the four counties. we will try to set them up in different host: placeplaces. host: birmingham, alabama. caller: good morning. i appreciate what you have done in your career. i hope they will continue to stand for what is true ricardo's of party affiliation. -- regardless of party affiliation. i hope that individuals l
all of the bureaucrats and regulators who failed miserably to deal with the bernie madoff situation, the regulators at the fed -- you name the regulator, they made mistakes in the past. we all know that. what are the democrats doing? they are saying let's give them more power and more money and even more authority, without trying to fix the problem that got us here in the first place. i think it is a flawed approach to the problem. host: hope, new jersey, republican line. caller: we are going...
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. >> kroft: if it hadn't been for bernie madoff, the most famous white collar criminal in america right now would probably be marc dreier. he also ran a ponzi scheme and wound up in prison, but unlike madoff, he agreed to talk about it. >> i thought, if somebody would ever interview me on a program such as yours, it would be for something good i've done, not something humiliating i've done. >> kroft: this isn't the way you wanted to be on "60 minutes"? >> no. >> i love the country. i believe in the country. i believe in everything that this country stands for. >> pelley: nada prouty's missions as an fbi agent and cia officer read like a history of america's fight against terrorism. >> nothing prepares you to meet a terrorist, a real-life terrorist. >> pelley: but her fellow c.i.a. officers were shocked when she herself was accused of being a terrorist spy. one of the new york papers called you "jihad jane." >> that's the jane that went to iraq and put her life on the line. >> cooper: mike rutzen is one of just a few people in the world who would do this with a great white shark, and tha
. >> kroft: if it hadn't been for bernie madoff, the most famous white collar criminal in america right now would probably be marc dreier. he also ran a ponzi scheme and wound up in prison, but unlike madoff, he agreed to talk about it. >> i thought, if somebody would ever interview me on a program such as yours, it would be for something good i've done, not something humiliating i've done. >> kroft: this isn't the way you wanted to be on "60 minutes"? >> no....
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Jun 11, 2010
06/10
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CSPAN
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the ponzi seme of bernie madoff took $65 million from the investors. many americans have lost trust in the financial system. we must enact this into law so that we will have o trust restored. the nstituents demand a financial system thawill hold predatory lenders accountable. the constituents deserve a new system that will protect the rights of consumers and investors and taxpayers. need a financial system that thhy can believe again, where every american will enjoy it responsible levels of lending ancapital. the house and senate with barney frank and christophe dodd have plans that will make the financl system safer for wall street. thesbills do some very important things. this ends the bailouts for the taxpayers and this provides transparency and accountabity, and the oversight of the entire financial system so that regulators are able to address excessive risks befe they build to the unstainable lels. my hope is that we will take the best ideas from both of the bills and put -- lakesid ias that go too far and may have unintended conquence for our co
the ponzi seme of bernie madoff took $65 million from the investors. many americans have lost trust in the financial system. we must enact this into law so that we will have o trust restored. the nstituents demand a financial system thawill hold predatory lenders accountable. the constituents deserve a new system that will protect the rights of consumers and investors and taxpayers. need a financial system that thhy can believe again, where every american will enjoy it responsible levels of...
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Jun 11, 2010
06/10
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CSPAN
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the ponzi scheme of bernie madoff took $65 million from the investors. many americans have lost trust in the financial system. we must enact this into law so that we will have our trust restored. the constituents demand a financial system that will hold predatory lenders accountable. the constituents deserve a new system that will protect the rights of consumers and investors and taxpayers. we need a financial system that thhy can believe and again, where every american will enjoy it responsible levels of lending and capital. the house and senate with barney frank and christopher dodd have plans that will make the financial system safer for wall street. these bills do some very important things. this ends the bailouts for the taxpayers and this provides transparency and accountability, and the oversight of the entire financial system so that regulators are able to address excessive risks before they build to the unsustainable levels. my hope is that we will take the best ideas from both of the bills and put -- lakeside ideas that go too far and may have
the ponzi scheme of bernie madoff took $65 million from the investors. many americans have lost trust in the financial system. we must enact this into law so that we will have our trust restored. the constituents demand a financial system that will hold predatory lenders accountable. the constituents deserve a new system that will protect the rights of consumers and investors and taxpayers. we need a financial system that thhy can believe and again, where every american will enjoy it...
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Jun 30, 2010
06/10
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CSPAN
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this is the kind of accounting that could make bernie madoff blush. here we are, members of the united states senate and house, getting ready to pass this. i do not understand it. it is still a tax. it is a tax that all of them is going to lead to less credit, more expensive credit, and fewer jobs. that is what this is all about. i yield back. >> the gentlewoman from illinois. >> thank you. i am concerned about the fact that we did not receive this amendment. i can remember when tarp first came up in the house and the first bill really did not have the accountability. most of us voted against it. then there is this crisis if the market was going to change, it could never recover. i can remember calling senator gregg about that in saying, how are we going to ensure that there is accountability? what he said was, the money that comes from park definitely goes to the debt. i think they've always counted on that. many of us voted for that reason. now we are going to say that the tarp money is going to pay for this the bill. what worries me is that pete pe
this is the kind of accounting that could make bernie madoff blush. here we are, members of the united states senate and house, getting ready to pass this. i do not understand it. it is still a tax. it is a tax that all of them is going to lead to less credit, more expensive credit, and fewer jobs. that is what this is all about. i yield back. >> the gentlewoman from illinois. >> thank you. i am concerned about the fact that we did not receive this amendment. i can remember when...