the largest of the feeder funds was the fairfield greenwich group. much money did fairfield make off bernie madoff every year? >> hundreds of millions of dollars. >> kroft: if you're a feeder fund, what are you supposed to do for those hundreds of millions of dollars? >> you're supposed to identify the world's best hedge fund managers and invest only in them, and you're supposed to make sure they're not running ponzi schemes. >> the real steroids here were the feeder funds. that's what made it an international ponzi scheme. >> kroft: attorney david boies is one of the most prominent lawyers in the country and is representing fairfield greenwich investors, who lost nearly $7 billon when madoff went under. they're suing the firm for gross negligence, claiming it failed to investigate madoff thoroughly or monitor his activities as it promised to do in its marketing materials. analysis of portfolio composition, portfolio stress testing, risk management, asset verification. do you think that really happened? >> no. we know it didn't happen because we know

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. >> george grew up a popular kid in wealthy greenwich, connecticut. though his family like many others wasn't rolling in it, his dad ran a liquor store in town. after high school, george went to babson college, a business major with ideas of getting into web design. friends of the time loved the guy. >> probably the most loyal person that anybody could ever come across. >> extremely funny. >> yeah, off the wall funny. >> when you pull up george in your just pressed play, what do you see him doing? >> laughing. >> i see him laughing and everybody laughing along with him. >> after graduation and some false career starts, george was back in greenwich, working alongside his dad in the liquor store. he talked about getting the shop established online. george smith iv never had a shortage of girl friends. after 2002, he took himself off the market after meeting a striking beauty from connecticut, jennifer hagel. a cop's daughter that wanted to be a teacher. >> she was his life. as soon as they met, i mean, it was totally different in a good way. >> jennifer

they took over in a theater facility there and renovated it around the greenwich village area.rgy that that building an organization brought to that neighborhood was phenomenal and fantastic. what we found out that equinox was trying to come into our neighborhood, we could not have been more thrilled. for thoseçó of the debtor not familiar with the way they are displayed in the committee, they held a site go for survival cancer marathon last weekend in their high industry facility, with which i participated in. ñrit was fantastic to be a partf that and see that happen in san francisco. please accept my enthusiastic support for this product, and i hope you will approve equinox coming to union street. çthank you. >> patricia, neighbors and the merchants. i cannot speak for golden gate valley because i have not heard back. but every association, merchants and neighborhood associations, supported this project. particularly in the moving component, and it should stay in. we think elizabeth and david for putting it back in as a condition. we have been working with the people from uc

chinese university of hong kong i should say thank you very much indeed for sharing your views at the greenwich. our website called we ask your opinion on the possible results of chancellor merkel's visit to china so let's check results of the poll so far the majority of which is sources seventy percent saying beijing will extend that helping hand weakened europe twenty percent say the meeting will end with chinese support for u.n. security council resolution i'll see where twenty percent say that china will move closer to the west and position on the run and the minority just thirteen percent so just that the trip will mean new markets for german trade so what do you think had to. cast your vote. and also online for you this hour presidential candidate a lady with britain says a run of the in the upcoming election is possible but believes it could destabilize the nation's political situation and find out how he's preparing for the poor. and is committed to resolving the issues over its nuclear program says a u.n. delegation after a three day visit to the country the tonic watch dog the interna

one south of us goes all the way from the upper west side of manhattan all the way down through greenwich village, jumps over the brooklyn bridge, goes into parts of, gets burrouh park, brooklyn, ends in coney island, otherwise known as the nathan's bars effect. funny shapes happen all over the place and happen for many reasons and compactness is often -- i've drawn districts where went i drew the plan for district in northern georgia, would be something that justice o'connor would really love but had a mountain range in the middle, you had to go outside the district in order to get from one side to the next, and so shapes can be deceiving. but i think in this redistricting cycle, particularly in texas and else where these are intentional claims of racial discrimination coming out. justice kennedy decided there was authentic gerrymandering? >> this is the thing about partisan gerrymandering. the last time the supreme court looked in-depth is veath against jubilier in the redistricting in pennsylvania where the republicans were in control and although the state lost, was losing i think it

wait, chances are last night somebody was born to white couple in greenwich, connecticut.qual shot? >> eric: in america, yes. >> bob: you're out of your mind. >> eric: there is inequality in every system. in fact, in capitalism in america capitalism, the income inequality is lesser, shorter than socialist countries. so you want more inequality or less? >> dana: even if there were two babies born last night, one to a crack mom and one to a white cuple in connecticut, it still doesn't close the gap of president obama's argument that raising taxes then helps -- i don't understand how it helps a young it person get a job. >> bob: the amount of head start money. >> greg: we could talk about this forever but i want to talk about santorum support, froster freeze -- what a great name? foster freeze. on msnbc talking about birth control and rick santorum had a response with charlie rose about is he responsible for what his supporters say in they were talking about contraception. roll it. >> this contraceptive thing, it's so inexpensive. in my days we used bayer aspirin for contrace

he grew up in greenwich, connect connects, with three bothers and one sister. summers were spent in maine, a home bush would eventually inherit. his father set a mark for achievement and duty. successful in business, proscot bush volunteered in local government, helped to establish the uso and served in the united states senate for two terms. >> his father was a stern, statuesque, rigid business guy. but his mother was the moral compass. >> i write about my grandmother, who i think was one of the greatest fln influences in my dad's life. >> dora bush cook is a the the author of the memoirs. >> she taught the very basic lessons of be kind to others, lift someone else when you are down and don't graying brag about yourself. >> high school was phillips academy in andover. the school motto means, not for self. >> i felt that all the my life. don't brag about yourself. i called her once when i was 16. mom! i scored 3 goals in soccer! long pause. how did the team do? that stayed with me all my life. >> making a difference and encouraging others to become points of li

one was a frenchman and the englishman reported his hypothesis and sent it to the observatory in greenwich, england. when the observatory type got his letter, opened it up and says, what's this? some mathematician is telling me that there's a new planet so and so coordinates in the sky, what is this stuff? i'm exaggerating. the frenchman sent his findings to the observatory in berlin and the berlin types said, what's this, a new planet? if i turn my telescope so many degrees that way, i will find a new planet? son of a...[bleep] there it was, they discovered a planet, predicted by the law of gravity and that planet, they called neptune, that's right. neptune was predicted. that's a nice thing about science, if you know some science, it will allow you to predict things, see? and they predicted where neptune was, ain't that neat? and later on in 1930, this century, they found other perturbation of uranus and all those other perturbations led to the discovery of what planet, gang, you know? pluto, that's right, pluto. and pluto was predicted before it was discovered and it's awfully hard to f

was recovered just this morning after police tracked down a carjacker who held up a motorist on greenwichin clinton. >>> rick santorum is celebrating a clean sweep in last night's nominating contest in colorado, minnesota and missouri. he was polling well in two of the races but the results in colorado came as a surprise, where mitt romney was favored to win. santorum's surge has thrown new uncertainty into a republican race already offered several surprise twists. >>> now here's doug with another check of our forecast. >> no surprises, doreen. no surprise what is so ever. unfortunately. love to have seen six, ten inches of snow. i love it when we get snow. we haven't seen any so far this winter. i know a lot of you saying what is he talking about? others saying, me, too, we want to see snow. those of you north and west, did you see snow. snow nour radar, where that snow is coming down, 270, montgomery county, frederick county, too, stop this for and you show you exactly where that snow is. it is coming through the frederick area, montgomery county, gainesville, rockville, light snow now,

history of living alone, you can really see it in specific bases like the neighborhood where i live in greenwich village in new york city for many of the neighborhoods that we now associate with single culture of, whether lakeview in lincoln park in chicago or belltown in seattle or west hollywood and los angeles in the marina district in san francisco. there's a whole urban culture that's built up around neighborhoods where people who are alone go to the together for some period of time. they might have a partner and many will couple often have partners for the rest of their lives but there are places where being alone can be a collective experience. >> host: you talk about the social problem, that there is a social problem and people started with the idea that this is a social problem, people disconnected and argue that is not necessarily the case. and it seems, think it's interesting to think about how, and you make this point too, that this is a living arrangement that people choose and constrained and so to some extent choosing to live alone and to some extent choosing not to live in the ar

the neighborhood i live in greenwich village and new york city were in many of the neighborhoods that we now associate with singles culture war lake view lincoln park in chicago or belt, and chicago were west hollywood and the los angeles in the marina district in san francisco there is a whole kind of urban culture that's built up around neighborhoods where people who are alone go to be together for some period of time they might have a partner. many of them will have partners the rest of their lives but they are places where being alone can be a collective experience. >> host: so, you talk about the social problem and people sort of start with the idea this is a social problem people connect and argue that that is not necessarily the case. and i think it is interesting to think about how paca you make this point, too that it's really this is a living arrangement that people choose among the choice constraints and so some come to some extent it's choosing to live alone and choosing not to live in that arrangement that is otherwise available to people, and i just wonder do you see it

some thoughts now from long-time buffett watchers thomas russo and chief investment officer for greenwichlth management. nice to see you both. >> thank you very much. >> thomas, i think you agree with warren buffett, but it must be said he usually does like some positions in the equity markets. he's liked stocks for a long time. >> he spoke extremely bullishly about stocks this share hold letter. i think it's in part because he's anxious to make sure that all of his readers, all of his shareholders, know just what a valuable treasure he has within berkshire, his holdings, his businesses and the stock itself because over times equities go up, berkshire shares will probably go up. and berkshire right now at the moment is in the market for share repurchase. i think warren's tried very hard to paint an optimistic view of what it means to be a long-term shareholder so those who consider selling back to berkshire don't step on the wrong feet. >> i want to play a little bit of sound about the banks and one bank in particular. let's listen in and i want to get your reaction to it. >> thank you. >

is a new phenomenon, and you can see it in specific places, like the neighborhood where i live in greenwich village in new york city, or many of the neighborhood wes associates with single culture, gay culture, which it's chelsea in the village or bell town in seattle or west hollywood in los angeles and marina district in san francisco, there's a whole kind of urban culture built up around neighborhoods where people who are alone go to be together. for some period of time they might have a partner. many of them will couple off and have partners the rest of their lives but there's places where being alone can be a collective experience. >> host: i think that -- so, you talk about social problems, that is this social problem and people were startled with the idea this is a social problem. people disconnect it and argue that's not necessarily the case. it seems -- i think it's interesting to think about how -- you mak this point, too -- that it's really -- this is a living arrangement that people choose in constrained amongst the set of choice constraints, and so to some extent it's choosing

a new jersey man who got really drunk at a bar in greenwich village, you know, playing -- it was likeof champions. >> exactly. >> uh. >> well, he tried to sue the bar after he got hit by a car. okay? because he was crossing the street. he says that the bar should have cut him off, should have monitored him. but a judge has ruled and said no, that ain't happening. this guy got hit by a car going 50 miles an hour. he had tears in both his knees, broken hip, leg, and foot, lacerated liver. his blood alcohol level, four times -- >> ooh. >> four times the legal limit. >> that's a lot of pong. >> he's saying they should have stepped in and intervened. but they're saying, listen, you voluntarily signed up for the fast-paced beer drinking game. the judge is saying no. >> i had a friend in new orleans who liked to say i wasn't drunk last night, i was overserved. blaming it on the bar. i don't think it's the bar's responsibility to say. you're a grown adult. know when is when. and you know, that's my thing at least. all right. moving on, here's a good story out of hotlanta down there. apparentl

. >>> it was a shocking murder that rocked the wealthy town of greenwich, connecticut, in 1975. 15-year-oldr century. but in 2002, michael skakel, a neighbor and a kennedy cousin, was convicted of the crime. he says he's innocent. last month he went to court to contest his sentence. michael's brother john is here along with skakel's attorney hue bert santos. >> good morning. >> your brother appealed for a new trial in 2010. now he's looking for an appeal of the stebs sentence to have it shortened. what are the thoughts behind that request? >> we still maintain michael's innocence. i absolutely maintain that. i was with michael at the time. >> you were his alibi. >> it was a precise time when the crime occurred. i was with michael at my cousin's house eight miles away. we left before the crime happened and we returned after. i gave a polygraph which i passed accompanied only by police officers a couple weeks after the crime happened. the prosecution's whole case rests on all of the alibi witnesses lying. unfortunately for them, i wasn't lying. they would like us to be quiet and go away. >> t

then i met her, like you said, when we were getting our tours together in greenwich studios in miamiry day. i went to her wedding. we became closer after that. >> it's so funny to hear singing sensations talk about being a fan of another singing sensation. i know. >> you cannot be. she was phenomenal. i feel so sad for bobbi kristina, for her mother, because i'm a mother. i know they've got to be going through -- i send a lot of of prayers to them. >> we have to take a commercial break. on the other side i want to talk about what you're working on next. we'll have that straight ahead as we talk with gloria estefan. >>> then we'll talk about mitt romney losing his lead. polls show because he can't shake that rich guy thing. you're watching "starting point." we're back in a moment. ♪ flip it over and replay ♪ we'll make everything okay ♪ walk together the right way ♪ do, do, do, do in the works package, we change the oil we change the filter... tire rotation, suspension, we make suspension checks... what we have here is the multi-point inspection. every time a vehicle comes into a ford

. >> i'm not piling on because i need a ride back to greenwich later. >> very good.ened in florida? a week ago, we all heard the press talking about newt's momentum, the polls show newt was ahead, what happened? >> this was not inevitable. even in an unpredictable year, you run a lot of negative ads, you get the momentum back. romney entered south carolina with more money and with a better organization. he didn't have the momentum in the message. by the end, he had all four. the most money, the best organization, the momentum from the debates and the best message. and that made it a decisive win for him. >> exit polls show romney won the support of 62% of voters who consider themselves moderate. romney was backed by 60% of voters who made more than $200,000 a year and by 59% of cuban-american voters. he also got the vote of 57% of republicans who do not support the tea party. romney won 52% of female voters compared to just 28% of women who went for newt gingrich. and among male voters, romney won 41% to 36%. but the polling shows romney is still struggling with the

the way i feel, don't put me into a certain box and i'm gonna wear my hat backward and i live in greenwichs is what it is. so i think that's the reason. any time you have that counterculture approach, especially disagreeing with your parents is like a wave, right? >> yeah. >> goes through waves, generations like i don't listen to my parents, everybody, yeah, that's pop, what let's do that. >> wes gave you lyrics from "juicy," mike barnicle would give you "hypnotize." >> irving berlin. >> "leave it to beaver." >> before i go off, i want to give my daughter, sophia, a shoutout, she is down in disney world and she is trying to -- >> what kind of pass does she have down there? >> well, yesterday, she had an all-access pass. today, she is going to go through disney world the regular stand in line for an hour and a half way, but she is prepared for it. she has her crocs. ready to go. >> steve, it's great to see you. the bookville good. it says so much about our culture, as steve said you can not just culture but about the economy now as well. the book is "the tanning of america," read an excerpt