it feels the destructions may have hurt the agency's ability to pursue important cases like bernie madoff's ponzi scheme. >>> and betty if you're looking for a home, here are the most affordable communities in the u.s., topping the list is the central florida community of hunter's creek, where "money" magazine says the median price of a home is $80,000, followed by lake jackson, texas, which is near houston, where homes average $125,000, and wesley chapel, florida, which is near tampa at $134,000. >> yes, i didn't see manhattan on there anywhere. >> no, the other end. >> won't for a very long time. ashley, thanks for joining us. >>> just ahead on the morning news a muslim militant threatens david letterman. >>> plus hugs and tears as joplin, missouri, hits a milestone in their recovery from a devastating tornado. >>> first scott pelley has a preview of tonight's "cbs evening news." >> all across the country, people are locked into homes they can't afford and they're facing foreclosure. we'll tell you about a way that could help homeowners get out without the bank ever taking over. that story toni

. >>> a federal appeals court ruled that many of the investors burned in the bernie madoff ponzi scheme are not entitled to billions of dollars they say they're owed. the investors argue they were owed all the money listed on their statements even though much of it never existed. >>> and betty, what are the most affluent towns in america? number one is the washington, d.c., suburb of great falls, virginia, where the average resident pulls in more than $360,000 a year. great falls is followed by hillsborough, california, where the median tops $319,000 and scarsdale, new york, where the average worker has to get by on a little more than $250,000 a year but when you think about the taxes they pay -- >> it adds up. great falls, virginia, i'll keep that on the list. >> google. >> thank you, ashley, joining us live. >>> as we mentioned earlier, president obama and texas governor rick perry are trading barbs over job creation and the economy, it started when perry took a swipe at fed chief ben bernanke. >> plenty more money to play politics at this particular time in american history is almost

growth of the banking industry the growth of the growth the financialization the growth of the bernie madoff ponzi scheme like wall street layer upon layer upon layer of the rivet of the debt and murder of of has been contingent on the growth of credit as a relates to. and talk about the interactivity between peak debt and peak oil debt has become the lifeblood of the society and in many ways we have a debt based currency. the way we create money these days is through bank loans so in order to grow the economy in order to grow the money supply we have to have ever more debt so we've done that over the past several decades particularly the last couple of decades consumer debt has grown of course we we suffered in the early part of the twentieth century from over production with cheap oil we could make stuff faster than people could buy it so we created the advertising industry in the consumer credit industry. and afternoon in the early one nine hundred seventy s. when u.s. wages started to stagnate. people continued to buy more stuff because they were being talked into it by the advertising industr

. >> a federal appeals court ruled bernie madoff's ponzy scheme victims are not entitled to profits hethey earned in the statements. and madoff is serving a 150 year jents after admitting his role in defrauding thousands of investors. he told them before arrest in 2008 their investments more than tripled. >> with police hot on their trails, thiefs in los angeles may have gotten cold feet. a quarter million dollar art work has been found, too hot to handle. >> a remember brant, recovered thank thanks to a tip, authorities discovered this stolen drawing stashed in a church. >> they were told i think we found a drawing. and i've seen it on the news. i said okay. i'm on my way its called "the judgment". one of 700 known rembrant drawings. not a masterpiece but the work of a master. the heist happened over the weekend at a marina del rey hotel. detectives say the dur rateor was art fully distracted it appears this is not a crime of opportunity. this was something that was thought out and planned. >> the drawing is valued at a quarter million dollars, but finding a buyer isn't so easy. >> if

>> yes. >> jason, thanks. >>> new trouble for bernie madoff serving 150 years in jail for the elaborate ponziheme. >> the reports show that his wife, of 52 years has dumped him. according to his biographer ruth madoff has not visited their husband since their oldest son commitmented suicide in september and she is reportedly looking to save her relationship with the couple's other son who became estranged after the massve fraud was exposed. the madoffs from high school sweethearts and were married for 52 years. >>> how investigators believe the thief here was able to get away. >>> and surprising new findings about autism. the family connection shown to increase the risk. >>> hi, i'm meteorologist lawrence karnow. sweet summer sunshine showing up around the bay area. just how long will it stick around? we will talk about that next. ,,,,,,,,,,,,,,,,,,,, killed whe the state fair >>> a memorial service was held today in indiana for the five people killed when the stage collapsed at the state fair. hundreds gathered prior to the fair's reopening. on saturday, strong wind gusts toppled the structu

. >>> up next, the man that brought down bernie madoff, the biggest ponzi schemer in the country, nownd how will steve jobs' resignation from apple impact the market? we'll get a check of the market with cnbc's simon mobs. >>> but we want to get a check on hurricane irene with bill karins. hey, bill. >> you need to pay close attention and start making the hurricane preps. it's the bottom line it's heading our way. let me show you the path of the forecast from the hurricane center. this was the 5:00 a.m. update and another one comes out at 11:00 east coast time, and they are taking to therm to north carolina as we go throughout saturday afternoon, the world series of it will be saturday evening around sunset into the overnight hours, possibly in the category 3, more likely a strong category 2, then the storm will weaken and it will also pick up speed, but it will not weak fast enough to not do damage, it goes to the beaches of maryland and delaware and all of long island and southern new england could get hit by the category 1 hurricane, it will be very significant, a lot of water and

ahead squoo and talk about dirty laundry, we'll tell you how trousers once worn by the ponzi scammer bernie madoffcould end up protecting your ipod. we couldn't make it up. and natural minerals. give you sheer coverage instantly, then go on to even skin tone in four weeks. aveeno tinted moisturizers. your ipod. coffee doesn't have vitamins... unless you want it to. new splenda® essentials™ no calorie sweetener with b vitamins, the first and only one to help support a healthy metabolism. three smart new ways to sweeten. same great taste. new splenda® essentials™. a few hours ago. you see a little bit of blue sky. welcome back to cnn in hong kong and london. you're watching "world business today." let's get you up to date with your business traveler's advisory. find out how heavy flooding in the uk and raining in europe is having its effect today. jen delgado is standing by. what do you want to go to first? i guess europe? >> we'll go to europe. but i want to point out to you. you saw the live shot in hong kong. for some areas toward the east we'll still see chances of showers popping up for parts o

ponzi scheme. >> really? >> yes. >> if you were bernie madoff's son. >> perry should apologize and say social security was a upon -- ponzi plan. >> if you hit a jukebox with your fist and the music plays -- >> don't, don't, don't. >> you tried, andy. you saw it coming. >> we can drop the audio on that. >> no, we cannot. >> bill, while are you running your mouth, there were no corvettes in the midevil times. the word betting refers that a harass be checked by a veterinarian before each race. >> your version is pornographic. this is a family show. >> and you mentioned your lord and save yes, sir obama's grades were better than rick perry's. really? how do you know? >> he went to harvard. >> have you seen his college transcript? nobody else has. >> are you saying he might not have even been an american? >> i am saying he never released his college transcript. >> you are questioning boldly, and i respect that. >> he has that transcript. >> he probably does. >> it is locked in a vault. >> so politico has a new rick perry article called perry panic fires up the left. it claims that the left is getting angsty because o

"wake-up call." ipad covers made from the pants of ponzi scheme mastermind bernie madoff.m an auction held by the u.s. marshal's service. they took the pants, chopped them up and stitched them into covers for the electronics. these are, of course, in very limited supply in case you want one. four ipad covers were made from one pair of bernie's britches. now you know. >>> for more money news let's go to christine romans live in new york. do you have one of those ipad covers? >> i don't. my personal finance adviser would say put it in the kids college education. i'm so irritated by the whole bernie madoff story. why would you want to carry around a piece of him. it's beside the point. >> i agree. let's talk about the economy because things are so bright and fabulous and people have oodles of money in their savings accounts, not. >> some people do, but it isn't most people. that's what we're kind of finding out and that's the real sad truth about this. we're looking at risks of a double dip recession. that's what people think the fed is concerned about. some people think that

and the wife of convicted ponzi schemer bernie madoff going incognito in florida.madoff was spotted taking money out of a an atm in boca raton with his brand new honda civic. he's reportedly severed her ties with her husband. steve? >> that guy was fired from his job as a florida state university administrator after 28 years without cause. but frank stevenson claims the school fired him because he's an alcoholic. something he claims is a handicap protected under the americans with disabilities act. joining us right now for a fair and balanced debate on this topic, we have trial attorney justin lito and criminal defense attorney rachel kuvo. good morning to both of you. >> good morning. >> rachel, you say that alcoholism is protected and is recognized by the american with disabilities act, right? >> that's right. it has been and it should be. i mean, we certainly should give benefits to those who are willing to seek treatment and that's what the ada is about when it concerns alcoholism. he, of course, has to prove to meet that standard but it absolutely has been rec

bernie madoff's drawers? the frederick james company is selling ipad covers made from the ponzi schemer's pants which were soldf the bargain deals four covers for madoff's khakis, about 250 bucks. certificate of authenticity is available upon request. proceeds go to the victims. for the latest news about your money check out the all new american money. from neutrogena® naturals. developed with dermatologists... it's clinically proven to remove 99% of dirt and toxins and purify pores. and with natural willowbark it contains no dyes, parabens or harsh sulfates. dirt and toxins do a vanishing act and my skin feels pure and healthy. [ female announcer ] new purifying facial cleanser from the new line of neutrogena naturals. [ female announcer ] new purifying facial cleanser ♪ ♪ when you're resonsible for this much of the team, you need a car you can count on. ♪ >>> what's so super about it anyway? before the roster is even complete, critics say it is a smaller version of a dysfunctional correct me if i am wrong. on this "american morning." >>> with all that's happening in washington and still a good morning. thurs