or so they thought. >> bernie madoff was a modern day dr. jekyll and mr. hyde. fed his need for success. >> madoff allegedly had been using new investment money from clients to pay supposed profits out to other investors. under the weight of a tumbling stock market, the scheme had collapsed. >> desperate investors and their lawyers scrambled to madoff's east side offices friday looking for their money. they were turned away in the lobby. >> there has never been a ponzi scheme on the scale of madoff ever. we're talking thousands of people who thought that they had millions of dollars socked away for retirement, suddenly found out it was gone. >> rose and jack lass say they invested every penny of their savings with madoff. >> we started to sell our furniture, some of our things that we value, so that we should have some money immediately. >> then there's 91-year-old ian thiermann. he had to take a job at a grocery store after losing $700,000 to madoff. >> the human suffering that madoff caused, i don't think we can ever fully grasp. homes had to be sold, college e

not as simple as bernie madoff. bernie madoff was a lot easier for a lot of reasons.iz: charlie -- >> we'll be talking about this for a long time. liz: silvergate picture is very ugly. >> that is whole another story. liz: lost 95% of its value from just, terrible. >> you didn't have -- liz: multi, a year-low passed through the 5.66. 5.78 right now. charlie, thank you. closing bell, four minutes away. what you see see on the screen e off session highs. if the s&p and nasdaq can hold on to these gains they will snap a two-day losing streak. the dow up 341 point. s&p gaining 30. nasdaq climbing 84. the medical technology sector could really use, an aed to shock it back to life right now. just take a look. i-shares, u.s. medical devices etf, ihi, down 13%. spdr health care, xhe, that is also down 15%. first trust medical device etf, down 14%. sicker symbol mdev since this time last year. the sector may be down, our countdown closer said what we were talking about at the top of the show, right. now is the time if you want to get in on the cheap, it is poised for a massive

years before the collapse around bernie madoff. this has happened even through the meltdown when we saw warning signs that were ignored. are our regulators up to snuff now amid talk of more regulation? >> i don't think so. i think with what we have to start with silicon valley bank is determine what level of supervision was in play, whether or not they had any insights into their internal liquidity stress testing, whether or not the mix for their liquid assets was the right. we're probably going to find the right mix. i think we're probably going to find a lot of the information that the examiners or super should have had access to could have given them far more time than a matter of a few days to resolve this bank. we need to go back and ask all of these financial regulators, are you focussed on the regulations that could prevent these things like silicon valley occurring in the future and i believe we'll find some shortcomings in supervision. >> neil: senator, we'll see what happens. thanks very much. billion for investor ken gri

you know, remember that bernie madoff cheated a lot of very sophisticated people out of their money,hat george santos has cheated a whole lot of sophisticated voters out of their vote. >> do -- do you have much confidence in the ethics process in the house? obviously this has been for forwarded to the ethics committee. i don't know if they'll look at these additional allegations as well or wait to see if law enforcement does anything. >> i'm confident of a couple of things, anderson. i'm confident that leadership has taken the steps to initiate this ethics investigation, that it will be thorough. i'm actually confident that the fec similarly will do its investigation. it appears like there's a lot to look at there. i know that nassau county prosecutors are also looking, and i guarantee you that they will do a very exceptional job, and i'm confident that we're going to see george santos in handcuffs in front of a judge hopefully not in the too distant future. >> wow, you really believe that? >> i do, absolutely. >> do you think he's getting any work done? i mean you know how difficult

in traditional financial services, you see bad actors as well, like bernie madoff, or what happened at enron. in terms of regulation, i don't think it will be a bad thing. coinbase has been calling for clear regulation and trying to work with policymakers for quite a while. we have made some progress across various g20 countries. it will serve as a wake-up call and a moment of catalyst where we will get more clear regulation in the united states, and i think that will be a good thing for coinbase and the industry. david: for your company and people who are clients of coinbase, you reassure them, i assume, regularly, they can find out for sure if their account is managed the way it is supposed to. and it is not being used for some additional purpose, is that right? brian: that is right. we are very different from what happened with ftx. for one thing, coinbase is based right here in the united states. we did not incorporate in an offshore jurisdiction like the bahamas. we are also a public company, which means we need to meet all of the audit requirements of a public company. so we show

they said this was not a trial of bernie madoff. this was a trial of alex murdaugh.course alex murdaugh will still go to trial for the 99 charges that he's facing in those financial crimes. randi kaye, cnn, walterboro, south carolina. >>> attorney and legal affairs commentator areva martin joins me from los angeles. she's also a civil rights attorney. areva, so good to have you with us. can we start with the sentence? what did you make of the judge addressing murdaugh in a very personal way before sentencing him to life in prison? >> well, i wasn't surprised particularly given the history of alex murdaugh's family in this county. his father, his grandfather, his great-grandfather all very prominent prosecutors in this particular town. the judge actually knew his relatives. in fact, he had to take down a photograph of one of alex murdaugh's relatives before the trial began. so this is a family that had great roots and a really oversized reputation in the legal community. so for the judge, he says, look, when a crime is committed, although there are individual victims,

they said this was not a trial of bernie madoff, this was a trial of alex murdaugh. still go to trial for the 99 charges that he's spacing in those financial crimes. randi kaye, cnn, walterboro, south carolina. >>> still ahead, we're live at cpac. is the conservative conference anywhere near as relevant as it once was? we'll talk about that coming up. >>> first, here is this weekend's off the beaten path. >>> welcome to midway, utah, 30 minutes from salt lake city. we are here for a snowshoeing adventure, the destination of which unlike any other in the world. we're going to end up in bathing suits down there at the homestead known as the utah crater for a yoga session. from the outside it just looks like a big hill covered in snow. there's an entrance inside of this hill, so you walk in. there's a hallway. the steam hits you in the face and you're like what is this in the middle of the winter, this warm space inside of a hill. >> good balance. >> reporter: this paddle board yoga experience, where else can you do it but hot springs in a cave. there's a big hole letti

they said this was not a trial of bernie madoff, this was a trial of alex murdaugh. he will still go to trial for the 99 charges he's facing in those financial crimes. randi kaye, cnn, south carolina. >>> krp's anderson cooper spoke with the lead prosecutor in the case is and asked for his thoughts on the sentence and the tact that he was still proclaiming his innocence despite the jury's decision. >> nothing more than the same. i think after he said that, i said what more needs to be said. the truth is not in this man. i think that was a big part of what the jury saw. certainly, a part of, you believe, what led them to the right verdict that they reached. >> were you surprised by the jury's deliberations? >> i have always said trial lawyers tend to be a little superstitious and i try not to think about things like that and people come up and talk to you while you're wait ing. i will say this, though. we put so much out there. it's been a huge effort by the whole team. you saw the whole team in action. i was probably less nervous waiting for this verdict than i ever

. >> can i say simply the ftx, bernie madoff and sbv had something in common.hey had a similar failure of regulators to keep an eye on the ball because they were getting too close, the regulators were getting too close. >> harris: fox polling shows some 68% of those living in households earning fewer than $50,000 annually could only miss two paychecks before having big trouble paying their bills. it's 44% of those earning more than $50,000. that's a lot of people that are two paychecks away from suffering. >> unfortunately things could get worse before they get better with regard to a recession coming. what happens if they are also looking at concerns about keeping their job? if you are living paycheck to paycheck you can't afford to miss one paycheck. >> harris: let me slow you down. what we hear from the white house is job growth is good and the numbers come out and -- but you see something deeper that you are looking at. what is it? >> it's the fact that we aren't growing as fast as we can and there are no plans by this administration to increase growth. in

i mean, four senators pointed out in a reason letter to the fed and fdic when the bernie madoff frauded regulators did not pressure banks to cut off access to other asset managers. is that what's going on here? >> yeah. i think they're throwing the baby out with the bath water here. there's a proper way to have a regulatory framework for digital assets. we need to work with the administration on that and not counter purposes because we're going to hurt our country if we drive it offshore. maria: congressman, also hurting our country is this expectation or now this perception that the government is intimidating anybody who goes -- who does not go along with their narrative. house judiciary committee chairman jim jordan wants answers on why the irs sent agents and conducted an unannounced visit to the home of an independent journalist, matt taibbi, while he was testifying before congress, exposing the censorship. jordan writes that the irs, quote, in light of the hostile reaction mr. taibbi's reporting among left wing activists, the irs actions could be interpreted as an attempt to inti

i always remember back in the bernie madoff scandal, that ponzi scheme of his wasn't being seen for yearsthe securities & exchange commission despite a number of people warning the sec, hey, do you see what is going on here? we've seen variations, congressman, with the last meltdown. the concern is we don't need more cops, we need better cops. what do you think of that? >> look i think at the end of the day we need to make sure regulators are doing their job. i think the san francisco fed here failed in its duties based on the regulations that were on the books and failed to follow up on the notices that were being sent to silicon valley bank. i think the fdic, the treasury and the fed once it was clear that svb was going to collapse, i think they acted appropriately to you know, stave off contagion here, avoid a bigger calamity. i would also agree with mr. grasso about jamie dimon and others in the private sector working together to help prop up first republic and make sure that we don't have further contagion. i really do believe the tools were there. it was a failure on the part of the

it is legendary the years they were unaware of bernie madoff's abuses and sec again and again was warnedout those abuses, not looking at even charges and revelations coming to light, over as i say, over a course of years. there were the mortgage derivatives popular among institutions that early regulations strictly forbid at the time but were being ignored. then portfolio insurance, something that brought on the '87 cash. with each and every occurrence we've had more regulations slapped on and to little avail. you know they say that history doesn't repeat itself but it sure does rhyme and there are new rhymes, new crises. i'm wondering what the answer is? apparently to janet yellen potentially answer could be a remedy, costly one, to provide liltless fdic protection to all depositors. what do you think of that? >> first you have to go back to see what actually happened, develop the timeline, get the facts. it is analogous to a plane crash investigation where the ntsb goes in, develops a timeline. decisions are made. look what exactly caused the collapse of that bank. let's get the facts

but it's very disappointing and kind of reminds me of stuff we saw in the financial crisis or bernie madofft the government -- this is supposed to be their job and they always seem to whiff when it counts. maria: talk about your leadership, you wrote a book about the courage to keep things free and protected students and kept things open during the crisis of covid-19 and stood up to disney. we have your op-ed here and old fax corp. republicanism won't do in a world where the left high jacketed big business and talk to us about the florida miracle and what you see happening for the country if in fact it takes on this item. >> well, i think as you know, because i'd come on your show. we were getting hammered by the left, by the corporate press, by bureaucrats like fauci every step of the way by covid whether it was businesses being open and people working during covid and i took a lot of incoming and even people being put out to pasture the whole thing politically and i had to do thing differently and my job as a leader is to put the interest of the people i represent and their jobs over my o

once bernie madoff goes to jail and after the events of the great recession, sitcom characters are winkingo the audience like this system is rigged. there is vast income inequality. have you had a chance to think of my zinger? er well, it's almost thanksgiving. everybody and i know what this crowd's giving thanks for state tax reform. jack donaghy, who's this corporate goon basically so rich that he really doesn't even understand how regular people live, i wish this event were tonight. it's not tonight. when is it? february jack donaghy is in the 1% and liz is just solidly middle class. why are you wearing a tux? it's after six. what am i a farmer? in the episode, the tuxedo begins. jack donaghy is mugged. my assailant was a middle aged white man wearing a button down shirt and dockers dockers were on the verge of a class war in the middle class would rise up and take back. what is theirs from these multi billionaires? attack was a wake up call the rich. need to defend themselves. tracy jordan's character is also kind of super rich character who has made millions and millions of dollars of