in october of 2011, ruth and andrew gave their first interview since bernie madoff's arrest. 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 believe t

bernie madoff and jpmorgan chase are deeply intertwined, like it or not. chase was madoff's primary bank for years, it was also the banker of some of madoff's biggest clients, which means the bank should have been able to see both sides of his trades, or non-trades, as the case may be. u.s. attorney preet bharara and his attorneys are looking as to whether morgan should have alerted someone about his trades. he says this appears to be a civil probe. still serious, but no one is going to jail. and a spokesperson for jpmorgan says he believes his employees acted in good faith, but others disagree, like irving baa bar kard. he said the bank was in the very center of madoff's fraud. that suit was thrown out, essentially on a technicality, but picard is appealing. then there's bernie madoff himself, writing me yet again from prison this week. he says in his latest message that he's alleged before to me and others, the banks must have known and were complicit and were contributing to my crime. not just jpmorgan, he says, but other banks as well. he says he has e

just because bernie madoff is behind bars doesn't mean other ponzi action has slowed down. joining us via skype this morning is chuck malkus. he's author of "the ultimate ponzi: the scott rothstein story." good to have you on the show this morning. mr. rothstein was able to bilk $1.2 billion out of investors. how was he able to fool so many people? > > well angie, like most ponzi schemes, it is a matter of gaining trust first and then secondly creating a product, in this case a structured settlement, that he could sell, but unfortunately did not exist. > how lavish was his lifestyle? > > scott rothstein was someone who had three multimillion- dollar homes, a half dozen sports cars, including bugattis, and he was also someone who spent $60,000 a month on paid-for women - escorts. > what do you think was the most egregious thing that he did? you had an up-close view of what was happening. > > first of all he forged a federal judge signature to gain a $100-million-plus settlement in one case from a client. secondly, he hurt charities. he would give with other people's money mi

now, he is considered a good politician, which is like saying bernie madoff was a good salesman. >> the day wrapped up with a result of the cpac presidential straw poll which shows senators rand paul and marco rubio as the early favorite of those who were in attendance. david gregory is moderator of "meet the press." good morning. >> good morning. >> what do we take away at this point from sarah palin's speech? what does it tell us about her plans for the future, do you hi? >> i don't think we take a lot of -- take away a whole lot. i mean, i think she can give a speech that can right up a conservative crowd with jokes and comparisons to bernie madoff that a lot of people would find offensive, frankly, but you hear -- i think whatever lasting impact sarah palin has is not as a future politician, but it is as someone in the conservative movement who still can really work the grassroots. you know, senator cruise, who is now a controversial senator from texas, gives palin credit for him becoming senator. i think it's in that way that she still wields some influence. >> she had a number of

this time it involves bernie madoff. oops. tell you what's going on there. >>> also, why on earth is vladimir putin's bodyguard getting pushed around by a south african security guard? doesn't he know who that is? now the russians are lashing out about that. up next, more of this incredible video and the ramifications it could have, coming up. has an equally thrilling, lesser-known counterpart. conquer them with the exhilarating is 250. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. arrival. with hertz gold plus rewards, you skip the counters, the lines, and the paperwork. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be traveling at the speed of hertz. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how

ponzi schemer bernie madoff is casting blame from behind bars. the convicted con man who bilked $50 billion out of unsuspecting investors says banks "knew" about his ponzi set up. madoff reiterated to marketwatch.com from jail: "i have said that the banks must have known and were complicit and contributing to my crime." madoff hopes this will "prove helpful in future regulation of the appropriate institutions." the new york times reports prosecutors are checking into whether jp morgan failed to fully tip off authorties about madoff's suspicious finances. banks in cyprus are re-opening the doors, but not without some intense banking restrictions for the island's citizens. cyprus has imposed severe capital controls to avert the likelihood of a bank run. the new limits mean citizens of cyprus cannot withdraw more than 300 euros a day. credit and debit card charges are capped at 5000 euros a month. cypriots are also banned from cashing checks, though deposits are allowed. the banking restrictions are set for a week, but could be extended if authories

. >>> bernie madoff says of course the banks knew about his ponzi scheme. writing from prison, the disgraced financial adviser specifically points the finger at chase, mellon, hsbc and citicorp but says there are others. madoff has said he has offered to help the various investigators. but no takers. he was convicted of running a $50 million ponzi scheme. >>> gas prices are falling as we head toward easter. the average price nation much wide this morning is $3.65 a gallon, a nickel less than a week ago and a quarter less than last year at this time. aaa says it is too soon to say whether prices have peaked for the spring. proposed merger of us airways has cleared another hurdle. it won approval from a federal bankruptcy judge. although he did express reservations about the package for the ceo. it needs the green light from us airways stockholders. >>> stephen cohen spending like there's no tomorrow. listen to this. earlier he made news when he bought this picasso for a record 155 million bucks. now we're learning from "the new york times" that he just spent

bernie madoff claiming the big banks knew what he was up to.adoff e-mails could for my first interview to the media i said that banks must have known and were complicit and contributing to my crying. although i've offer that banks trustee information that would demonstrate in detail the complicit behavior of banker jpmorgan, bank of new york, hsbc, citicorp and others, the trustee seems unwilling to act on my offer. when reached for comment, madoff trustees say madoff's credibility has no substantial value. the sec failed to comment. the federal reserve ordering citigroup to turn over reports. now we continue our countdown to the closing bell. ♪ liz: and the coun countdown to e s&p hitting a record closing high. less than two points away right now from the record closing high. so there you have it. we are getting very close, look at this, the highs of the day basically so we will be watching this with 20 minutes left in the trading session. let's look at shares of solar city shining with a couple of other names. nicole petallides at the new yor

adam: the infamous ponzi scheme where bernie madoff a speaking exclusively to fox business, he said "from my first interview to the media, i have said that the banks must have known and were complacent and contributing to my crime. although i have offered the bankruptcy trustee the information that would demonstrate in detail the complicit behavior of banks like jpmorgan, bank of new york, hsbc, citicorp and others, the trustee seems unwilling to act on my offer. therefore, i am offering this information to the appropriate government committees in the hope that this information will prove helpful of the appropriate institutions." melissa: no word yet. adam: this is operating within the last 45 minutes. he is naming the banks now. we are reaching out to the banks. they have denied any complicit action. this is a move on his part to get out of jail just one last time. or is it legit? melissa: i know you have been in contact with him for a long time. adam: i think he wants a lot of attention. he has been sitting on information that he has not shared. he may have something -- he says he f

which, is like saying bernie madoff was a good salesman. >> reporter: criticizing even her own party's own post-election efforts. >> we're here to rebuild a country. >> reporter: which led some to wonder, is she running in 2016? >> sarah palin enjoys the perks of being famous, i don't think that she enjoys the scrutiny that comes with running for office. >> reporter: she enjoyed poking fun at politicians like new york mayor michael bloomberg. >> mayor bloomberg isn't around, our big gulp is safe. >> sarah palin is better than any other republican politician at presenting herself as an outsider. she's very good at running against washington, d.c. >> washington politicians have a bad habit on focusing of the process of politics instead of the purpose of politics which is to lead and to serve. >> also criticism, palin offered no new ideas maybe she's waiting until christmas where she'll release her new book. >> thank you very much, sarah palin and the conservative straw poll will be among the topics on "this week." martha raddatz is filling in for george stephanopoulos and she joins us wi

infamous ponzi schemer bernie madoff speaking to fox business. >> and he's offering to name names beforeal committees. this may be a bid to get attention but here is the email he's sent me in which he's once again saying the banks knew what he was up to and now offering to go to congress and the appropriate committees to testify about this. from my first interview to the media, he writes, i have said that the banks must have known and were complicity and contributing to my crime. although i have offered the bankruptcy trustee the information that i possess, that would demonstrate in deat a time their complicity behavior of banks like j.p. morgan, bank of new york, hsbc, city corps and others, the trustee seems unwilling to act on my offer. therefore, i am offering this information to the appropriate governmental committees in the hope this information will prove helpful in future regulation of the appropriate instituuions. now, in the past when mr. madoff has accused banks of being complicity and helping him in his crime, the banks have denied any knowledge of what he was up to. fox busi

and now ice wants to know why. >> brian: then bernie speaks. yes. madoff all about his scheme. an exclusive from his jail cell. >> steve: they were in cahoots. >> brian: i don't know what that means. >> steve: this weekend, you can have the bunny, and even the egg, just not the easter p the e just try to make sure that we don't say the easter bunny so we don't infringe on the rights of others because people relate the easter bunny to religion. >> steve: okay. somebody call the pc police. "fox & friends" hour two for wednesday starts right now. >> steve: we love the bunny. >> brian: i thought so. i always thought until now that you could say easter bunny without freer of reprisal. >> gretchen: my kids didn't have homework monday night because passover, even though the majority of the kids probably celebrate -- >> brian: that's not right. >> gretchen: i'm just saying. so if you're going to observe one particular holiday, which is wonderful, then why would you exclude one that the majority of the people will be celebrating? >> brian: my kids celebrated rebell

he's considered a good politician which is like saying bernie madoff was a good salesman.he difference being the president is using our money. you know, i spend most of my time in fly over country. the heart of the are the had land of america, i have news for the permanent political class in washington, while they are busy worrying about their own political future, things are bad out here. nearly 8 percent unemployment rate doesn't begin to capture how bad things are. even the dismal rates announced of point one percent of the economic growth doesn't tell the story of the pain that americans feel. our president fancies himself as the champion . middle class. yet since he came on the scene, those lucky enough to have a job. they are working more for less. the median income of families has dropped over $5000 since 007 . job creators are being punished. it costs $100 to fuel up your truck. it compts tens of thousands to send your child to college. man, the price of the case of diapers today. these prices and the cost and the impact on the american family budget and while the

the tea party darling jokes at a conservative conference, comparing president obama to bernie madoff,rinks a big gulp to poke fun at the soda ban from mayor bloomberg. >> bloomberg is not around. our big gulp is safe. >> could this be a signal that she'll be running for the office again? >>> and home on the range. i do some riding and roping at the world's largest rodeo. got him! so, can this city girl be turned into a cowgirl? >>> and happy st. patrick's day, everyone. to quote the famous proverb, may the luck of the irish be with you. our bagpipers are from the first battalion, 69th infantry of the new york national guard. they'll be here throughout the show. we're also going to have irish dancers and dan abrams. are you going to be dancing as well? >> we got these great, cute, amazing dancers. then, dan abrams. >> feel free to dance. >> during the week, they have the deejays, we get the bagpipes and the dancers. >> i like the bagpipes. dan abrams filling in for the vacationing dan harris. ginger and i wri

. >> i remember bernie madoff and a photographer stiff-armed him and he jerked back, and that was the that's the one they used all the time. >>> so boys and their toys, this is bizarre-o. at the fillies ballpark, they have this new minor league ballpark -- >> all right, pam, wow. tough room. >> apparently they have urinals there that they've turned into video games. >> why not? >> because a man doesn't want to be bored. >> while they urinate, they play a game and they are skiing, and they point their aim -- it's like a joystick -- of course it is. >> way to go, hoda. >> you point it wherever you want to go, and you get a score. i'm sure they're competing. how did you do, dude? >> i feel sorry for the guys having prostate problems. they're at a disadvantage with this game, and also i think it's sexist, because women can't play. i think it's wrong on every level. >> yes, so do i. >>> anyway, should we talk about the dogs again? no. >> oh, my gosh. how long do we have to wait? >>> we're doing it now, we'll take a commercial break, and we'll go to meet these dogs, and i said i'm going to

. >> a ponzi scheme of bernie madoff speaking exclusively to fox telling them what was up to.at in an e-mail adam shapiro to joins us now with more. >> we were talking about this in the hallway. a very interesting e-mail with madoff. >> it is clear. i am going to read you the e-mail. what madoff said to us first i am giving you permission and want you to talk about it my first interview to the media i said the banks must have known and were complicity and contributing to my crime. i have offered the bankruptcy trustee the information i possess that would demonstrate in detail their complicity behavior of banks jp morgan chase, citicorp, bank of ny, hsbc i am overing this information to the appropriate governmental committees in the hope that this proves helpful in future regulation of the appropriate institutions. we have reached out to everybody involved. the banks deny it. the trustee sent us a statement. it is the trustee's position that as perpetrator of the largest ponzi scheme in history madoff's credibility is highly suspect and has no substantive value. heather? >> tha

bernie madoff was in tell against and smart and cunning.e ppeople who have power fon the consequences. when i saw the clip that came out with her singing and doing hand stands i agree i think it was here -- she wasn't sure where she was going to go. am i going to claim insanity. claim self-defense. she was just giving herself options and she is cunning. >> she could claim insanity but she never did. fred? >> i tell people this all the time. how people act indicates what their mental state is. if you were in the room. >> i would be looking for a knife to lit my wrists. >> i would be hiding under the desk. innocent people get frightened and scared. this woman is a manipulator and powerful liar and evil bad person. >> judge jeanine: what about the people who make the excuse when they say you can't predict how someone is going to act when being accused of murder? >> everything this woman has done from the get h-go has been calculated and manipulative and done with cause and reason. i don't think there is a single -- >> here is jodi talking abou

when bernie madoff ran out money that's when they had to tell people he ran out of money. i understand what you're saying. we have not solved our own situation where how do we unwind our next bigger bank. we didn't do that. we didn't lit the guy owns 00,000 above fdic didn't get wiped out. maybe somebody will get wiped out and should be known before the crisis happens. this limit how much you will take out will create long lines for days and days which feeds panic. would be better, take whatever you want out. we're 100% fine and you're insured. wouldn't be trips to atms over days and shorter lines and panic maybe gone away faster. because how they're handling it will go on longer. >> james let me ask you before we go. a lot of people saying this is the germans saying we'll not bail out russians because that -- >> why should they? melissa: that is what is comes down to. we're all blowing it up into something big i recall than that and drumming the russians in essence out of the european union where they felt they didn't belong anyway. >> if you study all the depositers they

you are considered a good politician like to bernie madoff was good salesman. >> reporter: sarah palin got seven standing ovations when she spoke to a full room of a packed crowd here at cpac. >> kelly: molly henneberg in maryland with live all the action. thank you as always. one of today's most anticipated speakers is national committee chairman. we expected him to step to the podium later this hour. we will bring it to you live along with the straw poll as soon as they come in. >>. >> jamie: new reports that north korea test fired two short ranged missiles yesterday. take a look at pictures of the launch that happened last year but the latest pro vocation comes as the pentagon prepares to beef up missile defenses in threats of new war with the north korean regime. the missiles landed in the sea of japan. >> kelly: we have seen north korea's rhetoric escalating in the last few months. in october of last year you'll recall days after south korea and u.s. unveiled a new missile deal, north korea warned it had miles that can hit the u.s. mainland. in december last year a rocket launch p

now, he's considered a good politician, which is like saying bernie madoff was a good salesman.rence being the president is using our money. you know, i spend most of my time in flyover country, the heart of the heart land of america. and i have news for the permanent political class in washington. while they're busy worrying about their own political future, things are bad out here. nearly 8% unemployment rate. it doesn't begin to capture how bad things are. even the dismal rates announced of 0.1% economic growth. that doesn't tell the story of the pain that americans feel. our president fancies himself as a champion of the middle class, yet since he came on scene even those lucky enough to have a job, they're working more for less. the median income of families has dropped over $5,000 since '07, even as we work longer and longer hours. and job creators are being punished. tell me, how does punishing the job creators create more jobs? it costs nearly 100 bucks now to fuel up your truck. costs tens of thousands of dollars to the send your child to college. the price of a case of

this is not bernie madoff. it is not a rip-off of the average american. getting a tip, maybe, about invidia end dell stock in making some money on it. i'm just saying, writing a whole book on this and i believe they're going after insider trading because they could not go after people during a financial crisis. that is one of the themes. they did not get anything. this was like low hanging fruit. at the general public should ask themselves. this is not a popular thing. is this worth it? are we wasting way too much time on whether he traded early on the stock? by the way, in order to do some of these. liz: they would argue that if there are a lot of other hedge fund options doing this this man says the biggest. liz: i agree, but what is the big deal? liz: that is your opinion. you have been clear about it. what is your book titled? >> reporter: circle of friends. liz: is there a song or movie about the title? >> reporter: i don't know. a romantic comedy. liz: tweet me and let me know what it is. follow me. we have a new twitter follower. >> reporter: roman

ahead of jerry sandusky and bernie madoff. but is there a new contender for that crown?odi arias? because jodi arias also admits that she shot and stabbed and slashed her boyfriend, but she says it was in self defense. but then she changed her story. first she said she didn't do it at all, then she said intruders killed alexander, then came the evidence against her, then the mea culpa, then the battered woman's defense, which led to this spectacular question from a juror that was read in open court by the judge. >> after all the lies you have told, why should we believe you now? >> lying isn't typically something i just do. i'm not going to say that i've never told a lie in my life before this incident, but the lies that i've told in this case are -- can be tied directly back to either protecting travis's reputation or my involvement in his death. >> and there's her answer. joining me now is noted defense attorney jose baez. hello, jose. nice to see you again after all these years. >> great to see you as well, ashleigh. >> we spent a lot of time in the courtroom together

. >>> in a fox business exclusive, ponzi-schemer bernie madoff claiming the big banks knew what he was e-mails, he says from my first interview to the media i said that the banks must have known and were complicit and in contributing to my crime. although i have offered the bankruptcy trustee the information that would demonstrate in detail the complicit behavior of banks like jpmorgan, citicorp and others the trustee seems unwilling to act on my offer. the trustee tells fox business that madoff's credibility is highly suspect. that's the latest from the fox business network, giving you the power to prosper. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. findut why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible los

now, he's considered a good politician, which is like saying bernie madoff was a good salesman. [ cheeringfference being the president is using our money. you know, i spend most of my time in the heart of the heartland of america. i have news for the permanent political class in washington. while they're busy worrying about their own political future, things are bad out here. nearly 8% unemployment rate, it doesn't begin to capture how bad things are. even the dismal rates announced of 1 point% economic growth, that doesn't tell the story of the pain that americans feel. our president fancies himself as the champion of the middle class. yet since he came on scene, even those lucky enough to have a job, they're working more for less. >> you know, it's very interesting, the outpouring of sentiment that i received after the speech at the national prayer breakfast. i got so much mail, letters, books, just amazing from everybody. and some of the more poignant ones were from older americans who said they had given up and they were just waiting to die. now they felt a sense of revival once again.

reportedly probing whether jpmorgan fully alerted authorities about suspicions on ponzi schemer bernie madoffork times" says the government believes jpm may have violated a federal law requiring banks to tell regulators with the suspicious transactions. the trustee over madoff's firm says jpm, madoff's main bank, ignored numerous warning signs. and a company spokesperson tells the "times" they believe it acted in good faith. and their shares up, in fact, today in early trade in frankfurt, even as that index is down about 0.7%. >>> the u.s. bankruptcy court judge could approve today american airlines' plan to merge with u.s. air to create the world's biggest airline. the severance package for ceo tom horton is also on the agenda. u.s. regulators will have to sign off on the $11 billion deal. shares down about 0.5% in frankfurt. >>> and what's in a name? apparently, not enough for hewlett-packard. it's reported they want to pull the plug on its deal for the sports arena in san jose, california, as you see it there. the hp pavilion hosted ncaa basketball games this past weekend and is home to th

seeking to hold the government liable for losses resulting from hurricane katrina, as well as bernie madoff's ponzi scheme. before that he was an assistant county attorney for miami-dade county and he clerked for the honorable james lawrence king in the southern district of florida. now, after jam, our attorney from the federal trade commission will discuss online payday lenders. i'd like to point out there is no national userry cap for pay day loans. la shawn will be focusing on a lot of issues that they're not concerned about, but focusing on how the loans are marketed. lashawn johnson works on a broad range of consumer credit and financial service issues, including challenging unfair, deceptive acts or practices by online payday lenders, and most recently she is focused on issues relating to the lending and debt collection practices of online payday lenders affiliated with native american tribes. prior to joining the f.t.c. in 2003, lashawn was a litigation associate with the washington, d.c. firm, reached her b.a. with honors from howard university, graduated from the university berkeley

bernie madoff is a whole different thing. this is not about -- that was a whole different issue. and people are upset about that, and they still are. you're hearing this now in 2013. we're a little bit late. fourthly, a bank bailout is going to be hated no matter what. if the government does everything perfectly including explain it perfectly, which is my next point, it's still going to be hated. but to my mind there are degrees of hatred, right? this could be a 10, an 8, a 6, and so the next point, if the government had explained better what it was doing and why, this includes the obama administration, i think the american people still would have been upset by the bank bailout. but as i said, there were degrees. and i think they could have a more accurate perception of what really happened than they do such as, proximate, the t.a.r.p. that i mentioned -- for example, the t.a.r.p. that i mentioned before. sixth, as those of you who have been paying attention -- now you do have to have been paying attention -- there was quite a backlash against the federal reserve, as if it came o

he's considered a good politician which is like saying bernie madoff was a good salesman. >> mr. axelrod, she also said the president is an expensive waste of time, appearing in his own reality television show. is this what psychiatrists call projection? >> well, she also said he should walk away from his teleprompter and she read the line from a teleprompter. the whole thing was sort of surreal, but i think the important thing to note is how well she was received here in what is sort of the citadel of the grassroots of the republican party. and that sends a strong message to chairman priebus and others trying to heal the wounds of the party that they've got a lot of work to do. when she ridicules background checks for guns, she's taking on an issue 92% of americans support and she got a big hand for it in that room. that tells you the gulf that exists for the republican party. the problem they have to solve, how do you nominate a candidate who can be elected in this country? if that's the position they're going to take, then they're going to have a hard time doing that. >> this

now, he is considered a good politician, which is like saying bernie madoff was a good salesman.difference being the president using our money. >> joining me now, from washington, ed o'keefe of the "washington post" and at cpac, national harbor, maryland, msnbc's dave weigle who, of course, also writes for the slate. dave, i'm going to start with you, i have been enjoying your blog, blogging from cpac, how did sarah palin's speech go over there? >> it went over very well. this is a crowd that always adored her. always identified with what they feel was an unfair and cruel treatment from the media. you saw that when ted cruz, who was seen as the republican party future thought it necessary to come out and take a little bit of the glory from sarah palin's reputation. it was also a little bit contradictory though, because one of the themes from speeches earlier in the day or the week has been republicans need to stop being the stupid party. palin's big moment, everyone agreed and pulled out their phone to capture was drinking from big gulp. people like her for things like that but i

before bernie madoff was criminal of the century, there was jordan belfort and his partner danny who stratten oakmont. these were not good guys. they got off on a fairly light sentence, 22 months in jail. one of the reasons why they helped the feds nab other criminals that were involved in their stock scheme including a guy named steve madden, who is i guess the, if you know anything --. lori: the shoe guy. >> i don't. he was involved in this. melissa: i thought you couldn't financially benefit from your crimes? >> you can. lori: there you go. >> i'm telling you, maybe there is "son of sam" law but this guy is. he has got the million dollars. we should point out the government is starting to step up its efforts regarding belfort. last year according to his lawyer he received some sort of a royalty payment from the studio. it was $125 million, excuse me, $125,000 and the government went in and did a restraining order and took that but they can't get everything apparently. this is an interesting situation. i'll tell you, if this movie does make it, it has huge stars. i mean, --. meliss

component is one being featured today because of the news we heard adam shapiro yesterday told us that bernie madoffmessaged with him, talking about the fact that the banks must have known, including jpmorgan. now the prosecutors are probing jpmorgan's actions during that time, during that madoff ponzi scheme and we'll see what they find. back to you. tracy: sure will, nicole. see you in 15 minutes. ashley: okay, well, look, cyprus finally preparing to reopen banks tomorrow but with some restrictions. as you can imagine quite a lot of security in place. it has beenna chaotic sequence of events that all came to a head 11 days ago. when on march 16th cyprus became the fifth eurozone member to ask for a bailout. in exchange for a 10 billion euro lifeline, banks deposits of more than 100,000 euros would be hit with the 6 1/2% tax and those with less would be $3.25. we take a look at the timeline. as protesters hit the streets, banks were closed fearing a run by panicked customers could wipe them out. three days later under intense pressure the cypriot parliament rejected the tax proposal. three days aft

including suits seeking to hold the government liable for losses resulting from hurricane katrina and bernie madoff's ponzi scheme. before that, he was an assistant deputy attorney at miami dade county, and he clerked for the hon. james kean in the southern district of florida. after jeff, johnson will discuss payday lenders. there is no national user recap for payday loans, so what she will focus on is not an issue a lot of states are concerned about regarding user recaps, but instead some of the federal consumer protection issues focusing on how loans are marketed and whether the terms and conditions of the loans or whether the loans will automatically roll over are being clearly and commonly disclose to consumers who are anxious to take out a payday loan. lashawn johnson is with the federal trade commission. most recently, she has focused on issues related to the lending and debt collection practices of online paid lenders as related to native american tribes. prior to joining ftc, she was with the washington, d.c. law firm. she reached her b.a. with honors from howard university and graduate from

now, he's considered a good politician, which is like saying bernie madoff was a good salesman.ference being the president is using our money. you know, i spend most of my time in flyover country, the heart of the heartland in america, and i have news for the permanent political class in washington. while they're busy worrying about their own political future, things are bad out here. nearly 8% unemployment rate. it doesn't begin to capture how bad things are. even the dismal rates announced of 0.1% economic growth, that doesn't tell the story of the pain that americans feel. our president fancies himself as a champion of the middle class. yet since he came on scene, even those lucky enough to have a job, they're -- >> and there you hear sarah palin. she is speaking at cpac at the conference in national harbor, maryland, in the potomac ballroom there. we'll keep a listen in our control booth to what she's saying. joining me right now anna palmer, reporter for politico, and david knanakamura. sarah palin said they're not gathered there not to rebrand a party but to rebuild a coun

. >>> bernie speaks. madoff, the banks knew all about his scheme. business exclusive straight from his jail cell. >> they were in cahoots. >> i don't know what cahoots means. >> i'll explain shortly. [ man ] i got this citi thankyou card and started earning loads of points. we'll leave that there. you got a weather balloon, with points? yes i did. [ man ] points i could use for just about anything. go. ♪ keep on going in this direction. take this bridge over here. there it is! [ man ] so i used mine to get a whole new perspective. [ laughter ] [ male announcer ] earn points with the citi thankyou card and redeem them for just about anything. visit citi.com/thankyoucards to apply. i really like your new jetta! and you want to buy one like mine because it's so safe, right? yeah... yeah... i know what you've heard -- iihs top safety pick for $159 a month -- but, i wish it was more dangerous, like a monster truck or dune buggy! you can't have the same car as me! [ male announcer ] now everyone's going to want one. let's get a jetta. [ male announcer ] v

. >> on twitter you guys signed like the bernie madoff breakfast club. don't question bernie.d about that? >> i think there's a concern perhaps being raised. my concern is when the fed is looking at the cycles, those are normal markets we should try to reach again. they were fueled by asset levels. the the fear would be if we try to get to that labor market again we may need certainly very strong evaluations and perhaps even a bubble to get there. >> you need a bubble to get there? >> i think that is immediate concern with this whole approach. >> jay, if your you're worried about what happens, if you think this is a sugar-induced rally, does that mean your outlook isn't that great either? if the market tanks it probably makes it a lot tougher. >> i have been doing this for 40 years. this is my fifth cycle. we thrive in times that are rough. i'm not concerned about our business. we still have one of the best asset classes in terms of yielding asset encloses among all portfolio. and there is some cyclicality. >> have you been smart enough to buy in the last two years? >> i don't

prosecutors are examining the bernie madoff fraud case.ernment wants to know whether the bank fully alerted authorities about the convicted fraudster. jc penney has resumed raising prices and discounting them on their own brands and the move luring shoppers back to their stores and sales have slumped since the year ron johnson instituted the everyday low-price strategy just last year. >> when we come back, walmart taking on amazon. can the retailing giant's new strategy do the trick? also ahead, carmakers and the battle for the american consumer. live interviews with the auto show from the ceos of merceders benz and volkswagen's u.s. units. futures have a tougher sledding and it's almost 70 points and a lot more "squawk on the street from post 9 when we return. >>> walmart outlining a new strategy to boost the online business. starting this summer it will test having lockers order goods until shoppers peck them up from its stores. it has quick delivery of goods from online retailers such as amazon. walmart made it clear it will unveil this

. >> megyn: even bernie madoff-- >> and he's not out of some orthodoxy. independent thinker, with fiscal policy and prudent and conservative, but this is a guy judging the world through his own light and they're pretty bright lights and worthy of our paying attention to. >> megyn: the way he talks about, he says i do care about seniors, i'm not against seniors, i'm against current seniors stealing from future seniors, he feels like we right now are robbing our own children. i've heard this before. >> right. >> megyn: people who are concerned, but for the first time in american history, instead of working hard to make sure our children are going to have a better life than we had, and turning where we're counting on them to make sure we're protected in our retirement. >> i don't think there's any question about it and we can judge that a number of ways. but first and foremost, 62 1/2% of the budget is going to entitlement programs. now, obviously, that's not all generationally related. but a great deal of it is. and the greatest aren't social security, but

among the stories that we're watching, prosecutors are now examining jpmorgan's actions from the bernie madoffe to alert of suspicious transactions. jpmorgan was the main bank for two decades. >>> we're also watching shares of cbs this morning, the company's agreed to buy half of the tv guide network. cbs and lionsgate will operate the cable network as a joint venture. this morning, see how things are setting themselves up. we do have red arrows across the board. dow looks like it would open off about 60 points, s&p 500 off about 6 1/2 points and nasdaq off about 10 1/2 points. >> you didn't walk, did you? >> i didn't walk. i did not walk because i thought i was going to walk the steps, but i decided we were just over here. >> we can look forward -- >> more authoritative. >> you're willing to do that? >> with the little kick as i'm coming down the steps no less. >> another strong rally for stocks as the s&p 500 finished within a couple of points of the all-time closing high. but our next guest isn't necessarily buying into this bull run. the chief equity strategist at ubs investment research j

seeking to hold the government liable for losses resulting from hurricane katrina as well as the bernie madoff ponzi scheme. he was an associate at washington, d.c. and clerked for the honorable james lawrence king in the southern district of florida. after jeff, lashon johnson is going to discuss consumer protection issues surrounding all pay lenders. i would like to point out that there is no national news recap for the pay loans. so what lashawn is going to be talking about isn't an issue a lot of states are concerned about regarding the user caps but instead some of the federal protection issues focusing on how the balloons are marketed, whether the terms and conditions of the loans or one of the loans will automatically rolled over or being disclose to consumers more interested in taking out a pay loan. lashawn johnson is entering with the federal trade commission and the division of financial practices. she works on a broad range of consumer credit and financial service issues including challenging unfair deceptive acts of practices by online pay lenders, and most recently she focused on

seeking to hold the government liable for losses resulting from hurricane katrina as well as bernie madoff's ponzi scheme. before that he was an assistant county attorney for miami-dade county, an associate here in washington, d.c., and he clerked for the honorable james lawrence king in the southern district of florida. after jeff lashawn johnson, an attorney at the federal trade commission, is going to discuss consumer protection issues surrounding online payday lenders. i'd like to point out that there is no national usury cap for payday loans, so what lashawn is going to be focusing on not ab issue that a lot of states are concerned about regarding usury caps, but instead some of the consumer protection issues focusing on how the loans are marketed, whether the terms and conditions of the loans or whether the loans will automatically roll over are being clearly and prominently disclosed to consumers who are interested in taking out a payday loan. lashawn johnson is an attorney with the federal trade commission's division of financial practices. she works on a broad range of consumer cred

that's from the madoff stuff and let's backload the contracts and what could possibly go wrong again. thank you, warner. coming up on 19 after on the radio greg gutfeld coming up and bernie has the briefing, what has it in. >> all kinds of laughter coming up. connell: i've already started laughing. "varney & company" is coming up right now on the fox business network and we're 19 minutes past the hour. ♪ >> welcome, everyone, to the "varney & company" skyfall edition. not. it is friday march the 1st. manhattan, new york city, usa. the cuts are about to be imposed, the sky has not fallen a little way that way there there is a supermarket and they're selling inspected meat, and a school, they'll be teaching on monday and ten miles that way, jfk, they will be flying. and newark that way, you'll get a patdown, the sky is not falling, but all around me, business activity is weak, why is that? is it because of these spending cuts? no, it is not. it's weak because of the tax increases that have been imposed on all americans. so, where are we going? maybe more tax increases from the president, not a strong economy. but here is the good news, "varney & company" is about to begin.