bernie madoff did it and others do it. it is securities fraud. when you commit this type of securities fraud, for as much as he's doing, and this is -- almost, he and his family. he's really a good guy who wants to do good. he's it -- okay to do steel if you want to do good. your whole approach to this was laughable and it marked the justice system. whether the sentence was accurate or not, 25 years in jail is not life, he's going to get out when he's 45 and may serve 50. bottom line, sam bankman-fried won't come out and start another crypto exchange. know it will give them their money and if they do they are crazy and deserve what they get. this is kind of like in that wheelhouse where it's somewhat justified. people get most of their money back. he's going to jail for fraud for something serious and it's a long time in jail. no one deals with him anymore. i remember the martha stewart sentencing at the judge in that case to remove the fraud. it's a good thing. martha stewart went to jail for something kind of stupid for 10 years. neil: and up b

we still talk about bernie madoff and that was decades ago. think the bankman-fried case will be just like that. ed: christine adams, inexperienced federal prosecutor on sam bankman-fried's trial and sentencing. thank you very much for your time. this is "bloomberg technology." amazon invests more money in ai startup anthropic. we have all the details with aws vice president matt would. interesting conversation. a lot of emphasis on the semiconductor side of the story, as well as aws and generative ai. this is bloomberg technology. ♪ you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. great job astro-persons. over. boring is the jumping off point for all the un-boring things we do. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. taking chances is for skateboarding... and gas station sushi. not banking. that's why pnc bank stri

. >> bernie madoff got, what, 150? elizabeth holmes had 11. evers was 25 i'm told by some experts the floor is 11 because of elizabeth holmes that's what some people think. the consensus from legal experts i'm talking to, they've said between 25 and 35. it's up to the judge's discretion he can look at the sentencing guidelines in the end, judge kaplan makes the call experts say 25 to 35 is reasonable based on how young sam bankman-fried is he's got a long life ahead of him. whether he spends the rest of it in jail is up for debate that's what's being taken into consideration. >> good it kate, thank you. kate rooney outside the courthouse >>> with the s&p 500 the only one of the big withiones higherh now. up 1 f t0%orhe quarter nasdaq capping off on a 9% gain for the quarter. we're all over the market coverage when we come right back on "squawk on the street." ad nauseam. but oh how he can nail a software solution like the best high screen pick and roll you've ever seen. you need ron. ron needs a retirement plan. work with principal so we can h

julia, big comparison bernie madoff sentenced 150 years. he was 70 years old at the tile. 25 years was within the ballpark legal experts expected i talked to the prosecutor in the madoff case. that's in-line much lower than the sentencing guidelines which had a maximum of more than 100 years this was sort of the expectation. he is significantly younger than bernie madoff. 32 years old and that was something the defense talked about today. still in the prime of his life in a lot of ways very intelligent, promising young individual who committed massive fraud and they said there's a chance for him to do good in the world. the judge saw it differently saying there's also a chance for him to commit another massive fraud, which he said really was a real risk. elizabeth holmes another parallel 11 years that, i'm told, the floor. most did not think he would get anything less than a decade or 11 years. >> back to julia's question. how much time is he likely to serve and where will he likely serve it >> reporter: so in california potentially his fam

i think the judge probably factored in the youth of sam bankman-fried as opposed to bernie madoff, whoison was run during a very short period of time but, you know, he stole $8 billion plus and nevertheless he lied and deceived and committed fraud. he seemed to feel very little remorse until today. even then as you point out, he was not exactly taking responsibility. it's not enough to say oh, well, i was the head of the corporation that stole this money so the buck stops with me. no, a sincere apology and expression of remorse might have made a difference and even to the end, he was in a period of denial. ashley: very true. gregg jarrett, fox news legal analyst. thank you as always for jumping on the phone and reacting to this sentencing. thank you so much, sir. >> my pleasure. ashley: let's get back to kelly o'grady outside the courthouse. what ot other nuggets of information do you have for us, kelly? reporter: i want to react to something gregg just said about the remorse point. that's something that judge kaplan underscore when had he was giving this sentence. he said there was no

>> compared to bernie madoff who got 150 years, and elizabeth holmes got eleven years, yes.itted -- laundered money. all these things you see on the screen, he actually did. he was convicted of all that. 25 years i think is a fair sentence. the money's been recovered, thankfully. but that doesn't mean he didn't commit the crime. so for those who would argue that because the money was recovered he should get a lesser sentence, that -- that tee doesn't wash. >> that's what i was going to ask about. what's going on with ftx now? >> not i don't that ftx exists. they've recovered money. the folks employed there are flow longer involved with the company. it's really not a player in the crypto space any longer. crypto is still alive and well and kicking. bitcoin's at $70,000. it hasn't had any impact necessarily on the price of the coin itself or the industry overall. but ftx is no longer. >> is he going to have the chance to try to shorten the sentence? >> i would imagine so. michael milken was convicted and sentenced to 24 months, got out in 22. elizabeth holmes may be able to al

i mean, we saw with elizabeth holmes getting 11 years, bernie madoff 150.and sentenced for which is misusing and fraudulent activity with people who trusted sam bankman-fried and ftx with their money. even though the cryptocurrency industry is much small or or than sort of the traditional a banking and financial industry, the there true harm that was caused to investors and people that trusted sam should not be understated. so i think there's a lot of things that judge kaplan will take into consideration.. he's been overseeing the case from the beginning. i think we saw that he's lost a little bit of patience with sam. sam's bail was revoked last august a when it was found that he likely tampered with a witness. and, you know, there's a lot of things he'll have to take into account, sam's age, there's neurodivergent and autism claims. there's a lot that that a will be taken into account. from what i have heard, the general consensus is somewhere between 20-30 years. somewhere pretty much in between the what the two to positive posing counsels are asking for

liz: oh, he stole it, yes. >> this not a marketplace play, this was bernie madoff can. this is about a guy who did an old-fashioned scam. he stole. when you steal, you go to jail is. and he's going to jail for two and a half decades. liz: charlie, thank you very much. charlie charlie gasparino. bitcoin that was stolen is worth a lot more than it was then. so with about 51 minutes left to trade, the markets are closed for good friday, but fox business will be live and kicking all day tomorrow. and if a good thing, because there are two major money events tomorrow. federal reserve chair jerome powell is set to speak on monetary policy in the morning. will he counter what a fed governor christopher waller just said at an event titled there's still no rush? plus, argue a write the most important -- arguably the most important data point on inflation will also be released 8:30 a.m. eastern tomorrow. it's the core pce, the fed's preferred measure of inflation. speaking of plain facilitating, as we come to the end of the first quarter, all four majors look to close it out with

the bahamas, put his name on a stadium, lobbied politicians, a lot of people are familiar with bernie madoffonations before he got caught, sbf spent nearly 100 million, customers' money. cut and dry corruption, fraud conspiracy, i hope you understand and regret the harm he caused people. this is also by bitcoin exist, to show that trust in our current system is constantly broken and we need to remove the power that exist with someone being able to just print money out of thin air, which is what he did. in just print money out of thin air, which is what he did.— just print money out of thin air, which is what he did. in terms of the general _ which is what he did. in terms of the general point, _ which is what he did. in terms of the general point, because - which is what he did. in terms of the general point, because this. the general point, because this crypto space has been often described as the wild west with a lot of talk about money coming in from money—laundering scam are criminals, so give me your assessment of the damage he has done to this space. i assessment of the damage he has d

remorse, which is why his attorneys are trying to differentiate their client from others, and bernie madoffin prison, and he was sentenced to 150 years. bankman-fried's potential sentence could be this high, and even prosecutors are not asking for that. other comparisons, this is bernie everies, and he got 25 years, and elizabeth holmes got 11. we should know by noon today how long he will be behind bars, marcus. >> thank you so much, scott. >>> this morning, chain controls are in effect along i-80 and highway 50 after a heavy dose of snow in the sierra. road conditions there quickly changing in the sierra for drivers. this is video from a scene along i-80. snow-covered roads and low visibility forcing many of those behind the wheel to slow down. those without chain controls, they were forced to install them. some travelers say they were not prepared for the rapidly changing conditions out there. >> so far it has been fine until we started climbing through 80. once we started hitting the snow, it got real bad. >> go slow. take your time. when they say chains, don't wait, just put the chains

charlie: so, you know, it really is amazing when you step back and think about this, you know, bernie madoffded people out of tens of billions and donald trump defrauded no one and everybody wanted to do business with him at the end of the deal, and he's face ago $554 million bond. make this make sense to me. >> yeah, charlie, i wish i could. you know, the fact pattern for this case is that he took autoa loan and paid it back with interest and somehow he is civilly liable now for this amount. it's outrageous miscarriage of justice and inconsistent with our fundamental constitutional right to due process and prevention of excessive fines of the eighth amendment of the constitution this. case is completely outrageous, and he should and will continue to fight and, you know, hopefully can find a court that's more sympathetic than judge engoron was. charlie: almost like letitia james is going after him for political purposes and listen to this tape from when she was running from office. >> no one is above the law, including this illegitimate president. i look forward to going into the office of a

disgraced financier bernie madoff's fraud was in the billions with tens of thousands of victims. how much his bail was. 10 million. i know, that was a lot of years ago you say. well, how about sam bankman-fried? he was forced to cough up 250 million in bail money. but, again, he lost his investors billions. and trump's case? the banks had done their due diligence in loaning him money and there were no victims. loans were paid back in full. but don't worry ye on the deflated left if there is somebody going to take the load off it's fani willis. she said she is still on track to. >> while that was going on still writing briefs and doing the case in the way it needed to be done. i don't feel like we have been slowed down at all. i do think there are efforts to slow down the train but the train is coming. >> laura: she doesn't sound political at all there. now, you get the sense that all these people are running on fumes. like a denture cream bond, a certain g word has been stuck on biden for years. but now his surrogates think the big switch aroo is going to work. >> this is the sam

>> ask the everyday people who gave money to bernie madoff if they think had were made whole.ppening in new york city. president trump is about to go on trial for $130,000 payment to stormy daniels to make sure his spouse did not find out about infidelity and the da in new york city has determined he should probably go to prison for up to 40 years for that. the department of justice has not decided -- has basically decided they're not going to prosecute sbf for what he did with ala m meda, sending ten the of millions of dollars to the democratic party and what they have said is, it's not in the interest of justice. so again, if you want to know why people have a crisis of confidence to quote jimmy carter in what's happening in america today, it's because justice has gone off the rails. fairness doesn't p seem to exist anymore. and what they have done to trump and what they ignore across the country is a real problem for everybody. maria: what a great point you make. you're right. we'll come back and talk more about this. former presidents barack obama and bill clinton expected

you know, bernie madoff fleeced thousands of people out of tens of billions of dollars, and he a had $10 million bond. and you've got this, what is this, i'm not -- i can't do math. larry: $450 million. >> 50 times. larry: actually, with the service charges, if you actually got a surety bond from a commercial insurance company with all their costs and additional interest cost, it'd probably be about $550 million which is an incredible number. >> donald trump -- larry: over half a billion dollars. >> donald trump fleeced no one. everybody made money on the deal. >> unbelievable. >> everybody wanted to do more business with him after -- larry: the only people not happy is letitia james and this big, bad judge. roman, you know trump, you worked with trump. here's what i find very interesting. look at him go with this, with this. and, of course, he's if the the other cases in washington and palm beach, and he's got this fani willis nonsense. she may only have a half shelf life left down in georgia, but that's another trial, right? [laughter] and, yes, and yet he is campaigning, he's maki

and with somebody like so i think about like the victims of bernie madoff.at was a ponzi scheme, not a pyramid scheme. there was no product involved. but it kind of works similar, but folks can say this is a you know, this is a crime that goes after the other. you know, a lot of departments really want this guy behind and can see what's exactly illegal and don't have such a problem self-identifying as victims, even though they did do the same thing by roping their friends and family into it. at least all of them can say like point the finger at you and what millions have done by, you know, lobbying for the laws that they have is they protect themselves with this idea of if we were a pyramid scheme if we were illegal, we wouldn't be allowed to exist. and what i like to say is that'[ like s■6ing i'm not a murderer because i'm not in prison. right. like you're you have to get caught. someone has to have the resources and the time to do the research and come after you and we just don't have that right now with the ftc. mm well. i wish. note that that's the note,

should get no more than 6.5 years in prison, saying that he is not like other fraudsters like bernie madoff who stole money from pensions that he was not intending to enrich himself by this pointing to his his look of often wearing t-shirts and shorts they have said to the judge that the sentence that either the prosecutor there's want or the probation department, which is asked for a year sentence, they call that a medieval view of punishment to reach what amounts to a death in prison sentencing recommendation crushing sam in this way is unnecessary. they've also sent to the court dozens of letters from friends and supporters that bankman-fried, but prosecutors have also provided the judge with it looks like hundreds of pages of letters from victims in this case. and we may even hear from one of them today who will speak before the court. sarah, there is a huge difference between what the prosecutors and the defense time-wise are asking for in prison, we will see what the judge does. kara scannell. thank you so much. john. >> all right. we got some new video just in to cnn. this is from a

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bernie madoff died in prison. i think the sentence of 25 years is fair. the fed likes to watch came in at 2.8%, right where everyone thought it could be. consumer spending is strong. incomes are up. the stock market had the best quarter in four or five years. the economy is good. still need to get inflation better under control, wrestle it back to 2%. 2.8% is where it sits, but moving in the right direction. i think for the fed, it's still on hold. interest rates will stay where they are. the performance of the stock market is really good this quarter for investors. productivity is up, wages are up. there's a sentiment number this week that was really interesting to me that showed people over 55 are feeling really good about the economy. people under 35 aren't so much. i can explain that divide by a couple of things. home prices, record high. stock prices, record high. >> that dynamic so central to this election year. christine romans, thank you so much. >> you're welcome. >>> we turn now to donald trump again and how he spent part of his day on social me