>> kroft: in the end, harry markopolos had been right about bernie madoff. he will be going to prison, but not because of anything that harry or the sec did. in a bad economy, madoff's lies simply collapsed under their own weight. >> no one was investigating mr. madoff at the end. >> kroft: so he turned himself in before anybody in a position of authority began a serious investigation? >> that's typically how the sec does it. they come in after the crime has been committed, they toe-tag the victims, count the bodies, and try to figure out who the crooks were after the fact, which does none of us any good. >> stahl: the mastermind of the ponzi scheme of all ponzi schemes, bernard madoff, may be in prison, but he is hardly forgotten. his untidy little business that bilked thousands of people out of billions of dollars is no more, but the big question, "where did all the money go?" remains unanswered. irving picard is the court-appointed trustee assigned to find that money and return as much of it as possible to madoff's investors. it's a daunting and thankless

in october of 2011, ruth and andrew gave their first interview since bernie madoff's arrest. they sat down with morley safer to speak out about crime, punishment, and the shame of being a madoff. >> it's a tough name to live with. >> it sure is. >> ruth madoff. you feel the shame? >> of course i feel the shame. i can barely walk down the street without worrying about people recognizing me. >> and andrew madoff. >> from the very beginning of this whole episode, i've had absolutely nothing to hide. and i've been eager, i would say almost desperate, to speak out publicly and tell people that i'm absolutely not involved. >> andrew and ruth madoff speak out in the book truth and consequences, a more or less tell-all arranged by andrew's fiancee, catherine hooper, an attempt to separate the family from the father's crimes. is it dismaying for you that no matter what you say people aren't gonna believe you? >> i think in many ways it is dismaying, but public opinion has to be something that doesn't matter to us. what matters to us is the truth. >> it's really hard for people to belie

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madoff. as we worked on the film and finished it, bernie was not that interesting. to begin with he wasn't that interesting because he's a sociopath. it's one note. more interesting are the people around someone like that, who must have known something. it was way too good to be true. but as long as their money was flowing, they weren't going to blow the whistle. that's more interesting, and i think that's the territory we ended up in here with someone who's more human. i don't think there's anything this guy does that we might have made the wrong decision ourselves. the scale of it is extraordinary. we're talking about billions of dollars, $400 million that he lost in this one transaction. the car, the townhouse, the stuff around him is off the scale, but the human dilemmas, i think, are something we can identify with, and that was my job as an actor, to make it human. tavis: to your point now, richard, nobody could know anything about bernie madoff and at any point be rooting for him. the strange thing about this movie is that you sit here and there are parts -- >

bernie madoff lost a total of about $20 billion. africa's president has pledged to end poverty in his country. jacob zuma was speaking on the final day of the ruling party conference. what will it take to bridge the economic gap? >> she and her friends say they are struggling to look after children. their patience is running at all. -- their patience is running out. >> but the leader is not listening. always come to the people to promise you'll get a house, electricity. but nothing. >> half an hour away, anc leader jacob zuma makes more promises. economic transformation and a better life for all africans. >> the government will therefore transform the structure of the economy through a industrialization, broadbased economic empowerment, addressing the basic needs of our people, for women and youth, as well as strengthening and expanding the role of the state. >> but there will be no radical shift in policy. naturalization is not happening. instead, there is greater taxation on the mining community. officials also promised to mix the

the investor's trustee including dropping that wilpon willfully blind when they took money from bernie madoff'seme. they did not know they helped steal other investors' money. >> bill: new sentencing. madoff was sentenced to play center field for the mets this season. all right? cruel and inhuman punishment i believe. there is also another madoff baseball connection. another one of his ripped off investors was which hall of fame pitcher? noland playing for markdy koufax. pfeiffer steve doocy playing for. maccallum went to me i don't even know what the topic is that's how seriously she takes. this i don't know what the topic is tonight. >> it's like you can study. it comes completely out of left field. >> americans wild characters on the carol burnett show. during part of that program burnett said not a show went by when somebody didn't ask her to do what? p, please. the answer is, roll the tape. >> in 11 years of questions and answers, i don't think there has ever been a time when some member of our audience hasn't asked this probing and significant question: hey, do your tarzan yell. >> bill:

the investor's trustee including dropping that wilpon willfully blind when they took money from bernie madoff'seme. they did not know they helped steal other investors' money. >> bill: new sentencing. madoff was sentenced to play center field for the mets this season. all right? cruel and inhuman punishment i believe. there is also another madoff baseball connection. another one of his ripped off investors was which hall of fame pitcher? noland the answer is sandy koufax. [ laughter ] smoke? nah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purche, everday! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great sinesses deserve great rewards! [ male announcer ] the spar

should be more bad news for bernie madoff.rew madoff is reportedly awaiting tests to confirm fears that his canningser has returned. he was first diagnosed with lymphoma in 2003. this news comes right before tomorrow's 4th anniversary of his father bernie madoff's arrest. >>> kate middleton could end up back in the hospital the dutches suffering a relapse of herself morning sickness. the radio host talking about the first time about the prank and the tragic turn. elizabeth pran joins us live with more. >> prince william canceled his speaking engagement to care for his wife. the fallout from the prank at the hospital is heating up. the australia radio station behind the hoax now says it tried to warn the hospital before it aired the prank call. they didn't know about the nurse's fragile state. she was found dead reportedly taking her own life after being duped a radio station. the two dj's involved have been off the air and in hiding since her death. now they are speak out for the first time saying they are devastated by the ne

bernie madoff offering his position on the problems with wall street in a christmas eve letter he sente fox business network. madoff says the more trade are kept confidential the more valuable that information is. he says this lack of transparency leads to insider trading. more than 50 years in jail for scamming thousands out of 20 billion. head nothing better to do than to write the letter. >> the information is at risk of being stolen or destroyed. the state hoetdz true for confidential data at fore stun 500 companies. it uses computer encryption says it's entirely possible that he could spread a virus to spread through out servers in about an hour. >>> our children are getting smarter apparently. a study from duke university looked at the children with standardized tests. the students who scored the highest were younger than professors. it could range from better nutrition to media outlet. >>> president obama is saying an early aloha to hawaii. he is cutting the vacation short to return to the white house and try to get back to work and avoiding going over the fiscal cliff. hope you

but also the some of the only person on bosses bernie madoff the bernie made off of the fed no the record of that makes them puts it can be dangerous congressman ron paul if it is working franticly their editorial izing they've hired a lobbyist they do not want us to know what they're doing and they use all kinds of frivolous arguments why the congress is not a lot of know what they're up to the fifth is the bailouts costing just a trillion pastry media quotes several of retaining the documents the federal reserve has tried to keep secret for years showing the roof figure is twenty million. that's twice the value of everything produced in the u.s. in twenty twelve. and eighty percent of that stash is going to just twelve banks in fit with the fed bankers sitting on the wall all the regional sides this to me smacks all the enormous conflict of interest from bill right he warned years ago the fed by call. a massive crisis he joins us how far has it come ok there are only twelve banks that do this stuff. the total number of banks that are involved heavily in credit default swaps and who fina

bernie madoff is serving a 150 year prison term. >>> finally, we're still here. these pictures are from a ceremony led by mayan priests in guatemala marking the end of the mayan calendar, aka, what was supposed to be the end of the world. no word on what doom sayers camped out at this mountain in france are doing today. they have been there for days believing that when the end of the world came a ufo would come to the mountain and rescue them. >>> got milk? you could be in for a major shock. mandy is here with what's moving your money. prices, i saw this headline and couldn't believe it. 6 to $8 a gallon? >> it is unbelievable. that is if congress does not pass a new farm bill, chris, that amends farm policy that dates back to the truman presidency. obviously this has been kind of lost in that brouhaha of what's going on between the obama administration and republicans over the fiscal cliff and the budget wranglings, and there is believe it or not an impasse over a farm bill that covers billions in agricultural programs and without last minute action they would h

. >>> peter madoff, the brother of jailed ponzi skeeper bernie madoff, will serve ten years in prisonr madoff still says he's innocent. >>> facebook is testing a new way to make some money. charging users $1 to send an internal e-mail message to someone who is not on their friend list. forget the fiscal crisis. come january 1st there's a possibility that milk prices could rise to as much as $6 to $8 per gallon. that's if congress fails to pass a new farm bill. >>> in the wake of superstorm sandy which led to the conselation of this year's new york marathon. runners from around the world are being offered a full refund. >>> those in the know say the average markdown is around 43% right now. that's compared to 33% on black friday. >>> but getting a deal doesn't always guarantee delivery. this home surveillance video shows a u.p.s. driver delivering a package to one doorstep, and then coming back to swipe a fedex delivered package that contained an ipad mini. they tracked down the seasonal driver and fired him. the ipad was returned and no charges made. >>> what if there were no u.p.s.,

somebody who false economics, former financial journalist and some of who is opinions on this issue, bernie madoff, jamie dimon, in your view with those -- were those two treated fairly by the federal government? >> bernie adolf was treated fairly but i wouldn't put it in the same action. bernie madoff got what he needed to get. i think of him as a serial killer of capitalism. and you don't come you don't condemn a whole society of a criminal element, in street crime. you don't say we should have, everybody should be in jail, we've got criminals. and there's bad people in all systems, but the capitalist system, the free market system is going to channel people self-interest into the most destructive activities that benefit everyone. spent an jamie dimon being called before congress because his company lost money. >> there's risks. there's risk in markets. he did a good job in those hearings pushing back. i think what's really scary right now is that people who don't really understand markets or good don't like markets are demonizing risk. when you invest money, the whole point is that you may or m

. >> brother bernie madoff will go before a judge before his role in a ponzi scheme. >> 9news is back in two minutes. >>> 4:38. we have the breaks in the clouds now. we'll see a lot more breaks in that cloud cover. partly sunny today. maybe a 10% chance we'll see a stray sprinkle. highs midday in the upper 50s. we'll be driving home in the low 50s. it will be breezy as well. back in about five minutes. some cold headed this way. here's monika. >>> the bay bridge is under a fog advisory right now on the northbound side of i-95 here in springfield, volumes are still light heading up to 395 and the 14th street bridge. no issues on the beltway through annandale and heading up towards tysons corner. we'll be back with more traffic at 4:47. back to you. >> thanks, monika. >>> 4:39. time for your first money segment. millions of credit card customers should be on the lookout for refunds. american express, capital one, and discover all issuing checks. the companies hoe $435 -- owe $435 million as a result of a government crackdown on what they call deceptive credit card practices. the refunds

bernie madoff is spending the rest of his life in prison for running a multibillion-dollar ponzi schemeed thousands of people of their life's savings. we got a rare look today at one of the most important documents in american history, the in a emancipation proclamation, which granted freedom to slaves held la rebel states during the civil war. docudocument is rarely displayed in order to preserve it, but the public can see it starting december 30 as the national rtingves in washington marks the proclamation's 150th anniversary. sandy hook's hero principal was full of love and larger than life. remembering dawn hochsprung. next. life. powerful positions in the s. next on cbs5. but sex selection is not just occurring in foreign countries. it's happening in the united >>> the line of people who paid their respects to dawn hochsprung in woodbury, connecticut, last night wrapped around the block. the line for the wake started at 3:00 in the afternoon and was still going at 8:00 last night. she was the 47-year-old principal at sandy hook elementary. investigators say she gave her life trying

bernie madoff has time on his hands.ds time communicating with a handful of us off the record. he made a rare exception on christmas eve in an on the record letter that does not address his own situation but he talks about the challenges he sees for regulators. dark pools. those off exchange trading regulations that create a lack of transparency in the markets and turn inside information into gold. the more secret this information, he writes, the more valuable it is to those that can obtain it. therein lies the problem. to that point, madoff has been clearly following white collar crime since his arrest four years ago. he writes, although one would be led to believe that with the recent spate of insider trading prosecutions that insider trading is a new development, this is false. it's been present in the market forever but rarely prosecuted. the same can be said of front running of organizations. madoff led a lot of the groups. it's been this additional layer of cost that has created the need for more risk to be taken t

get to a >>> tonight on the 4th anniversary of mastermind bernie madoff don't miss it on 60 minutes on

bernie madoff ted kasinski maybe they would have skipped the store. i'm jon scott. we'll see you back here next week. >> john: pink slime? for this energy drink and raw milk are illegal in my town. why do you want to drink raw mick mil can. >> because i want to. >> if you can't pick your own food are you free. >> it should be the freedom to own a gun. >> so can i eat him or her or him? >> was it good. >> that is our show tonight. [applause] >> and now john stossel. >> john: food can kill. people eat the wrong stuff and get sick. that is why most everyone that we need government to set limits. not bacteria chemicals. to make sure food companies tell you what is in their food and how fattening it is. state legislator felix ortiz has done that in new york city. he got trans fat man, calorie counts posted at mcdonald's and other fast-food places. now he wants a ban on adding too much salt. so you think he saved lives? >> absolutely. john: okay. a farmer. he grows vegetables dollar raises cows, chickens, and pigs. i assume you want the people who buy your beef and pork t

it makes bernie madoff look like a skid row pickpocket. >> number four, everybody thought one of the most powerful politicians in china was getting rid of crime and corruption until this summer when a court convicted his wife of murdering a british businessman and the government accused him of trying to hinder the investigation. now he has been kicked out of the communist party. leaders voted to expel him in november. >> number three, a service becomes not so secret. the role of protecting the president when traveling has moments of glamour and excitement. that included hookers for some agents and military personnel visiting in advance of the president's arrival. it was an embarrassing incident but it would not have bothered authorities since prosecution is legal there. local police only got involved because of a hotel conflict over the payment. >> number two, varying the lead. it has been called the building that never sleeps but the bbc's london headquarters said it was unaware of the serious allegations. investigated accusations of child sexual abuse. six people have been arrested

the younger brother of bernie madoff may spend the next 10 years behind bars for help with the biggest in history. some are outrage pd he's not spending more time in jail for wiping out their life's savings. >> when coffee doesn't cut it for you a lot of people are reaching to these so-called energy foods. but there's a hidden danger with some of these products. good morning, doctor. these are all caffeinated products. there are more on the market these days. >> it is a big industry it has gone up to 2.5 million. i am a big advocate to cough fee. there are a lot of anti-oxidants great to prevent colon cancer. these are different because they get absorbed in a totally different way. kids can take them. pregnant woman can take them by accident. it can be a health hazard for your children. for your kids. if you look at these lollipops it can get sucked right through the mucosa and increases your heart rate. >> it hits you phatser than drinking the coffee. >> which is the purpose of this. everyone is looking for a quick fix. we are not a tolerant nation and they want something really fast.

[laughter] also jim jones, bernie madoff and all of those claiming by and let your faith they can supervene the natural law and if there were such a thing as historical necessity, why in the world what we have to aide? portion of a human being but claimed they would save under us these ideologues and opportunist visionaries fugs seem to lead that they actually emerge from and right from the power and held by the mass confusion of the unbalanced group. the political impulse to the submission for all of those explained is more reasonable than out motive forms represented the government religion and culture may also be seen to the impulse buy those in extremists to seek out magic. the quiet of the psychic healer and energy for their past and the worshiper of the political strongman trade autonomy for magic. but the power of the magic feathers and beads and stimulus might the resurrection cannot be attempted without sacrifice. here the sacrifice of reason, the contemporary equivalent of dashing the flesh to make it rain. of course it implies a supranatural recipient and an angry god and require

the younger brother of bernie madoff will be sentenced for helping pull off the biggest ponzi scheme in history. he is expected to spend the next ten years behind bars. one victim fired off a letter to the judge saying she is very unhappy the sentencing was postponed from december 9th. another was outraged because . y >> no sign of inmates who used bred sheets to break free in chicago. after their escape they got into a cab without their orange jump suits on. they went to connolly's mom's how is she turned them away and called the cops. a 50,000 dollar award is being offered for any information that is led to their capture. >> she brought the miss universe crown to the united states. >> thmiss universe 2012 is usa! >> 20-year-old olivia, the 8th american to ever win the title. the last time it happened, 1997. the rhode island native beat the first runner up ms. philippines and miss venezuela who came in third. >> the u.s. getting pummelled with a massive thunderstorm just days before christmas. dumping at least a foot of snow in the next 48-hours. dozens of flights already canceled.

bernie madoff's younger brother peter has beenúÑ sentenced to 10 yearsrs)blÑ he claimed he did not know him. facebook testing service that will charge users a dollar to guarantee messages they send are connected to arrive in inboxes rather than an ignored foaler called other. historic day in movie history:.p snow white and seven dwarfs debutted this day 75 years ago the first feature len animated film produced by disney the -- the parent company of abc. t live we'll let mike interpret whatríó the green and yellows and reds mean.o0 we know this is moving into the entire bay area later today-j08kg. >>> police throughout the bay area will be out in full starting today looking for drivers. san mateo police planning to set up a dui checkpoint tonight officers from throughout san mateo county will staff the location as part of their avoid the 23 dui> highway patrol and police$-)>> --bÑÑuu three bay areah[ hospitals will pay fines?@; faili

. >>> bernie madoff's brother peter has been sentenced to ten years in prison for his role in helping cover up his brother's ponzi scheme. before sentencing, he said he's deeply ashamed by his conduct and accepts full responsibility for his actions. check out these pictures from a volcano in ecuador, hundreds of people have reportedly been forced to evacuate from their homes in the town of runsen. the volcano has been active for more than a decade and has recently seen renewed eruptions. >>> how something as simple as baking pies is bringing comfort to newtown, connecticut. ñ? >>> one of the great things about this country, whenever there's a tragedy or disaster, regular people do extraordinary things. no one asks them, they just do it, no one's watching, they just do it. we've seen it over and over again, it's inspiring every time. beth howard is one of those people, she lives in iowa, when the shooting happened she got in her car and drove 1,000 miles to newtown. no one asked her to do it, she just did it. and what she brought to newtown, some may consider unusual. but it's somethin

bernie madoff's brother peter deserves to spend the next ten-years in prison for his role in the 2$20illion fraud case. he will be sentenced next week. >>> it is now time for your fox health fix. anna kooiman is here for the roundup of the top medical stories. what you have tofor us? >> everybody knows smoking is bad for you, right? even light smoking can double the risk of sudden death for women. researchers from the researches health study found women who spoke one cigarette per day have a hire risk for deadly heart condition for women. however women who quit did reduce their risk significantly. can determining how long you live be as simple as sitting down? a study for journal of cardiovascular syndrome said it could. sitting without help considers their morality. if a person can get up with little or no help they are lick lie to live loppinger because they are more active. if a terne struggled or needed a hand they were more likely to die earlier. the study looked at 2,000 middle aged men and women over a 6 year period. finally you heard the warnings about bpa being dangerous for

t it makes bernie madoff who made off with millions look like a skid row pick pocket. >> number four,g trouble in communist china. everybody thought one of the most powerful politicians in china was getting rid of crime and corruption until the summer when a court convicted his wife of murdering a british businessman and the government accused him of trying to hinder the investigation. as well as taking bribes and abusing his power. now he's been kicked out of the communist party. leaders voted to expel him in november. >> number three, a service becomes not so secret. the role of protecting the president when he travels abroad has its moments of glamour and excitement. that atmosphere included hookers for some secret service agents and military personnel visiting cartagena in advance of the president's arooivl in april. it was an embarrassing incident for the white house, but it wouldn't have bothered colombian authority since prostitution is legal there. local police only got involved because of an altercation between a woman and a secret service agent due to payments. number two, i

folks at the people's daily checked who made the onion's sexiest man list in the past, people like bernie madoff, maybe they would have skipped that story. that's a rap on news watch for this week. thanks to judy miller, jim pinkerton, and i'm john scott. thanks for watching. we'll see you back here next week. >>> i was the first woman to prosecute a murder case in my county of westchester in new york. i had to prove i was every bit as smart, capable, and prepared as man. stand on my own two feet in front of a jury, and yes, even do it in high heels. never once did i say i didn't know the facts, didn't know the law,kn or didn't know my case. and i never hid behind my boss. hello and welcome to justice. this week susan rice rears her head after 11 weeks in hiding on heree benghazi misstatements. what she didn't explain, her total lack of candor to the american people. instead, she raised more questions about her fitness to be secretary of state. >> i don't trust her, and the reason i don't trust her is because i think she knew better and if she didn't know better, she shouldn't be the voice of am

he is known as bernie madoff of the midwest .e'll find out how long he will stay behind bars for stealing a fortune. g about our . now we know where to go for help if things change again. call or come in today to take control of your personal economy. get free one-on-one help from america's retirement leader. >> ploose in arizona on the look out for a mom who took her cancer stricker daughter out of the children's hospital. you can see the mother ushering emily out of the hospital. iv bag and all and they jump in a black lane. that iv line embedded in the chest must be removed by medical professional. the girl has luekemia and her right arm was amped after a past inflection . padoff of the midwest is behind bars with a long time to get used to the prison sentence. timothy duram ceo of national lampoon was convicted of defrauding investors. jake miller of wxym has more. >> mr. duram will never spend another day of his life in any facility other than a federal prison. >> 50 years in federal prison for swindling 5100 investors out o

. >>> bernie madoff's brother peter has been sentenced to ten years in prison for his role in helpings ponzi scheme. before sentencing, he said he's deeply ashamed by his conduct and accepts full responsibility for his actions. check out these pictures from a volcano in ecuador, hundreds of people have reportedly been forced to evacuate from their homes in the town of runsen. the volcano has been active for more than a decade and has recently been seen eruptions. >>> how something as simple as baking pies is bringing comfort to newtown, connecticut. [ male announcer ] this is sheldon, whose long dy setting up the news starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. to the number 1 club in the world. the potential of manchester united unlocked. nyse euronext. unlocking the world's potential. >>> one of the great things about this country, whenever there's a tragedy or disaster, regular people do extraordinary things. no one asks them, they just do it

. >>> prosecutors say wall street swindler bernie madoff's brother deserves to spend ten years in prison for his role in madoff's ponzi scheme. peter madoff is scheduled to be sentenced thursday. prosecutors say he failed to stop his brother from windsling billions of dollars -- windsling billions -- swindling billions of dollars from investors. >>> howard will have our forecast first coming back. winders expected to be a -- wind expected to be a bit of a issue. >> keep it right here. news back in two minutes. >>> good morning. welcome book to 9news now. 6:44. a lot of people getting ready to head out the door, off to school, off to work. it's mild outside. >> 40s, even low 50s south and east of town. much better than yesterday. just a hint of fog in a few spots north and west of town. other than that, the breeze is going to be the story this afternoon. my wife says what kind of weather will it be when i run this afternoon. well, eight going to be in the 50s but -- it's going to be in the 50s but breezy. our bus stop forecast this morning, about to head out, the little one abouts to head

. >>> bernie madoff's brother peter has been sentenced to ten years in prison for his role in helping. before sentencing, he said he's deeply ashamed by his conduct and accepts full responsibility for his actions. check out these pictures from a volcano in ecuador, hundreds of people have reportedly been forced to evacuate from their homes in the town of runsen. the volcano has been active for more than a decade and has recent recently been seen eruptions. >>> how something as simple as baking pies is bringing comfort to newtown, connecticut. [ male announcer ] when it comes to the financial obstacles military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. but since i've been on alli, am i on this one? nope. am i on this one? no, no, no, no, no. i am on this one. [ mal

kim kardashian is to marriage counseling what bernie madoff is to financial management. >> let me make this perfectly clear about kim kardashian and my choice of casting her in this film. i wrote a film that is coming out in march. it's called "the marriage counselor" and it's a cautionary tale about making decisions in relationships. i had no idea she was married, going through what she was going throw, i had no idea she was getting divorced. >> did you know who she was? >> no. i know she's a sweet girl, she came in, did a great job. she was very professional. i'm very happy with what she did and i'm also happy of this. hear me cleary. there are millions of people who look up to the kardashians. it's very responsible to have someone like kim kardashian in a film that is a cautionary tale about making bad decisions and choices so that if people or children or fans of hers are watching and coming in and they see this story, if it speaks to them, then she's done a great job and i have done a great job in putting her in the movie. >> she has about 18 million followers on twitter. >> so yo

. >>> today marks the fourth anniversary of bernie madoff's arrest in a multi-billion- dollar ponzi schemeleaded guilty and is serving a 150 year sentence. we asked jill schlesinger, editor at large for cbsmoneywatch.com to give us an update on the case. first, good morning, jill. >> reporter: good morning. >> so how much money has been recovered for these victims? >> reporter: irving picard is the trustee appointed to recover funds from madoff and has secured about $9.3 billion of the estimated 17.5 billion dollars invested with madoff. two big highlights, 7.2 billion- dollar deal with a madoff associated who died and a $162 million settlement of the owner of the new york mets. the trustee hopes to recover an additional $3 billion over the next year and a half. that leaves investors with about a $5 billion total loss. >> wow. the scandal was a wake-up call for investors. what can we do to protect ourselves against this? >> reporter: i think you always need to start by asking questions. you want to determine whether your broker or advisor will be handling the advice. the trading or the cus

. >> bernie madoff sentences to 10 years in prison. peter madoff, pleading guilty to conspiracy.s brotheree scheme. he cheated investors out of $20 billion. he is serving a 150-year prison term. now back to "on the record." for your latest headlines, go to foxnews.com. >> this is a fox news weather alert. thousands are stranded as a deadly midwestern storm leaves thens without power. we go live to chicago for more. >> reporter: dana, what a difference a few hours makes, five to be specific. when the snowfall started. i want to show you, a car that was here when we got here, just left a few moments ago. you can see the difference. now, you mentioned about the cancellations and the weather. it's been affecting air travel. chicago o'hare international airport reporting 350 flight cancellations with delays of 30 minutes. chicago midway airport reporting 150 cancellations with delays och to 50 minutes and dana, can you imagine, this is our first snowfall of the season? a record 290 days between now and our last measurable snowfall. here it is, the national weather advising everyone, i

i call it my bernie madoff poem. >> read on. >> "o mammon, thou who art daily dissed by everyone, yetples than all other gods together, thou whose eerie sheen gleameth from corporate headquarters and vatican treasury alike, thou whose glittering eye impales us in the x-ray vision of plastic surgeons, the golden leer of televangelists, the star-spangled gloat of politicos -- o, mammom, come down to us in the form of treasuries, annuities, & high-grade bonds, yield unto us those benedict arnold funds, those quicksand convertible securities, even the wet judas kiss of futures contracts: for unto the least of these thy supplicants art thou welcome in all thy many forms. but when thou comest to say we're finally in the gentry -- use the service entry." >> do you ever go back and say, "oh, that's one of my first children. i mean, i remember -- i've forgotten that kid, but now i realize that it is my poem." >> yeah, i love reading the early poems as much as the late ones. i brought along a poem which it would be an interruption, sort of, of the thrust here. but -- >> that's what life is abou

. >> at least in the case of bernie madoff, madoff got the money. who got all this money?dn't even get it. it was just wasted. >> so he says. you really believe karl rove didn't get any money? i don't believe it. >> we like this "hardball" here. karl rove off with the money. [ fema le announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. christmas and the holidays for one great reason. it reminds us how americans can not just get the job done but actually achieve great things. it's about a young leader who opened the doors for civil rights, inspired a generation, and literally took us to the moon. get a copy of "jack kennedy, elusive hero." it makes a fabulous, affordable gift for people who share your ideals. it's a paperback, it's cheaper. we'll be right back. +9@> >>> we're back. the republican party, as we just said, is in a soul searching mode right now looking t