. >> jay: it's pure bernie madoff.ut can i tell you another element of the con? that i actually made this page on photoshop last night and put it into this bulletin. ( laughter ) and i did that to prove a point, and the point is... >> safer: you got me. >> jay: ...you set it up by saying that i was a student of cons and that i'm knowledgeable in that area. and so, you allowed my supposed expertise to make you believe this is true. this magazine is true. i really have lectured to this group of police against confidence crime. everything is true, except for this page, which i slipped in last night. >> safer: so what's the moral? trust no one? >> jay: we wouldn't want to live in a world where we couldn't be conned because, in effect, we would then be living in a world where we mistrusted or refused to trust anyone. so this is the price we pay. >> safer: and pay we have. in the wake of the madoff scandal, ponzi perp walks have become a marathon: texas financier allen stanford, accused of a $7 billion ponzi scheme; minnesot

he was bernie madoff's operations director as it is expected in court later today. bernie madoff asserting 150 years in prison after admitting to bilking investors out of billions of dollars. >>> the general motors, brand may be history soon. hummer -- potential investors will be heard. they will still service parts. >>> an officer and pennsylvania -- in pencil the stopped and suv and the personal like marijuana. the officer searched it and the inside, he found a hidden compartment filled with 358 >> of heroin. that is about half a million dollars worth of that drug. officials say is one of the largest heroin bust they have ever seen. >>> what theyere expecting. we are expecting some high winds, damaging winds this afternoon? >> yes, we are anticipating the wind to crank up and push to 50 miles per hour. the trees are still wet from leftover snow so the tree limbs could come down. they could take down power lines. there might be a few light snow showers tonight. hammered -- >> the storm is ever so close but it missed us. we have had our fair share. this is a shot fr

madoff have a role speak as she deftly had a role. she kept the books when they started in the early 1960s. on a folding card table in. she was the keeping he was arrested she was serving along for the ride. i liken her to bonnie and clyde. maybe bonnie didn't fire any of the guns but was certainly a part of the schemed. >> do you see the story will continue with more trials, et cetera? >> there are more people, sort of the layers of the onion are being until. one of the significant question i think though is the fate of the federal government here. the sec investors were after madoff i again and again from 1992 on. they always missed it. why was that? their defense is they were inexpensive and incompetent. but i don't know that is really a satisfying answer. >> as head of the investigative unit for abc, when is the first time you heard of bernie madoff? >> denied he was arrested that i was sitting in new york next to my colleague, we just is reporting on blagojevich, the governor in illinois. and my friend got an e-mail from the fbi

. >> susie: a long-time employee of admitted ponzi schemer bernard madoff was arrested today. madoff's director of operations, daniel bonventre, is charged with conspiracy, securities fraud, and tax fraud. the feds also accused him of falsifying records. a judge freed him on a $5 million bond. bonventre and his attorney did not comment on the charges. the 63-year-old is the sixth person to be criminally charged in the case, including madoff himself, who pleaded guilty and is now in prison. >> tom: united airlines will fly the friendly skies on 25 new boeing 787 dream liners. the airline finalized its order today, which includes an option to buy 50 more of those planes. the price tag is more than $4 billion. united expects to take delivery of the dream liners in 2016. the new planes will replace older boeing models flying international routes. the dream liner is more fuel efficient, allowing airliners like united to add new nonstop international routes. >> susie: at today's congressional testimony, the fed chief weighed in on china's large holdings of u.s. assets, saying they c

separately, more money may be coming to madoff victims. his luxury manhattan penthouse has a buyer. >> tom: an advertising scuffle between jenny craig and weight watchers is over. jenny craig says it will stop running ads that made mention of quote, "a major clinical study." that study claimed jenny's clients lost more weight than those using weight watchers. weight watchers sued, calling the ads false and misleading because there was no such study. after pulling the ad, jenny craig's c.e.o. challenged weight watchers to go head-to-head in a clinical trial. >> susie: just two more days until the super bowl. and if you're still looking for a ticket, there are plenty left if you have the money, and a ticket broker. as jeff yastine tells us, those brokers are very popular this time of year. >> reporter: it's super bowl week in south florida, and there's plenty of action happening before the big game. but the real action... >> this is for luxury suite 229 for the super bowl, a party of 29. >> reporter: ...is behind the scenes... >> are you in

stephanie madoff says her family has been the object of threats, harassment and humiliation.n, instead. >>> women on ice could be the theme of the day at the winter olympics today. the women's ice hockey gold medal will be decided when the u.s. takes on canada. and the final four teams in women's curl willing be in action. brad wheelis now with how the americans fared yesterday. >> reporter: in vancouver last night, an unexpected medal for the u.s. women's short track team. the south korea skater bumps the chinese. and the u.s. women take the bronze. their first short track medal in 16 years. also on the short track, reigning 500 meter sprint gold medalist, apolo ohno cruises to the quarterfinals. but look at this spill by teammate jordan malone. it's the second event he's been unable to finish in. lindsey vonn will leave vancouver battered and bruised. the two-time medalist, loses control and skis off the course. and slams into the barrier. teammate, julia mancuso, who was already on the track, has to stop. then, skis over to von, who hurt a finger. but will complete friday

the huge explosion madoff as it drove past another school. -- went off as it drove past another school. several died. the pakistan army said it had driven the taliban out of the area last year, but this attack clearly demonstrates they retain the ability to strike back. the american mission in pakistan and there pakistani military allies will be asking tough questions. new the soldiers would be traveling in his convoy? did the militants just get lucky? >> and american-trained pakistani scientist has been convicted of charges of trying to kill americans in afghanistan. the federal court in new york found aafia siddiqui guilty of attempted murder. fbi investigators testified that she snatched up and unattended assault rifle and shot at them. the united states has called iran is launch of a rocket up provocative acts. iran has fired the rocket in defiance of western concern that this might help the country develop nuclear missiles. iranian media it says that the rocket carried an experimental capsule carrying live animals. the government was urged to hurry up and get on with the execution

this story in the business section deals with another name in the business world, bernie madoff, thisis from the legal section -- host: louisiana is next on our democrats line. good morning. caller: good morning. i don't believe my official should have been re-elected. he broke laws, and he's not doing any favor to even try to help the president. as far as charles, he's a doctor. he should be at the forefront of healthcare. he's from louisiana. he knows many people in louisiana doesn't have healthcare, and he knows what it's like to want healthcare and need healthcare. i mean, we do have a charity hospital in lafayette, and it's full of capacity. let's just look at the whole congress as a whole, because no matter how one of these elected officials vote, it affects the united states. the tea party, anyone who supported that tea party, one of our elected officials, don't need to be elected. and because the views is within politics, this is why the tea party is trying to build something. a lot of people's not looking at that. i watched the cpac yesterday, and i could not find a black mem

>> the same way it applies to bernie madoff. it was a very bad idea, it was reckless and irresponsible and it comes crashing down in the end and we don't want that to happen to our country. it isn't a matter of republicans or democrats, both parties, the leadership over the last several decades has contributed to this but it is fair to say president obama and the current congress have made it exponentially worse. bill: and you said some of these numbers you point to are staggering, federal government spending has grown seven times faster than median income since 1970. at $12 trillion, the debt is more than 80 percent of gdp. that's enormous. debt per household is $600,000. that's just staggering. but you argue it doesn't have to be this way. you could just turn off the fawsel. how so? >> well, there's a number things we can do but just one other fact that stick necessary my mind, the federal government takes in for all revenuesources, about $2.2 trillion a year, the total unfunded liabilities of our country are 65 trillion, fede

she felt so betrayed and angry at madoff and felt so badly for the victims, who were her friends that she's the one who answered the phone. and when they called and say it's not true. she was in tears when she came to see me. she wanted to do anything to help bring this man down. and so that's how we got the little black book which is published in our book. and lots of telling details. she gave copies to the fbi and copies to meet. >> it is "the madoff chronicles," includes a bernie's little black book you can see in the right hand corner. the author, brian ross. >> coming up next book tv presents "after words," an hour-long discussion between a guest host and the author of a new book. this week, john yoo, law professor at the university of california berkeley and deputy assistant attorney general at the justice department's office of legal counsel from 2001-2003. he talked with his latest book, "crisis and command." it looks at the history of executive power going back to president george washington. professor yoo discusses this book with victoria toensing. and a founding partner at

. >> if only bernie madoff was a hot teen, the sec would have stopped his scheme. workers at the securities and exchange commission are getting distracked it from their mission of protecting investors by porn otherwise known as naked pictures of people doing weird stuff to each other. i wouldn't know. the washington times reports over the past two years more than two dozen employees of contractors have faced investigations after being found to look at sexy sites on their computers. one regional supervisor logged more than 1800 attempts to look at porn in a 17-day span. is that a lot? >> it is 106 times. >>106 times? >> per day. >> anyway, said the supervisor, quote, it was ind could of a distraction -- it was kind of a distraction, per say. per say indeed. in similar news, some dude in australia got busted on live tv looking at sexy pictures while at work. watch what is going on behind this reporter. >> the last three that were put in place late last year. and sometimes this takes up to 6 to 9 months before you can see the affect. >> it didn't help they put the spo

marshals as part of madoff's guilty plea. we don't know who the buyer is nor the price. price was $8.9 million. any of you guys? >> no. >> not any of you. >> as michelle said, we work in basic cable. i remember in those buildings you got to pay cash and put up six months worth of -- >> you get around them, michelle. >> does it come furnished? i don't think it even comes furnished. >> they sold off a lot of the furnishings, including the temper-peddic. >> anything over 100, she has to report to the court. >> and up next, the jobless rate is down, right? but long-term unemployment is up. government is hiring. construction companies are borrowing. what are we going to do about this? a three-martini lunch would help, but do we need a $100 billion jobs bill. >> you'll need the three-martini lunch if we get the $100 billion jobs bill go through. >> some is on mna activity. tyson foods better than expected earnings up 3.75%. with fidelity, you can take your trading around the world, because now you can trade u.s. and foreign stocks online, in 12 markets, 24 hours a day, all fro

scotty. >> arthur nade is the first of the so-called mini madoffs.he six florida hedge funds he managed were supposedly worth $350 million under the name scoop, victory, and valhala and went bust early last year flooded with redemptions following the mad offscandal. art nadel went missing for a week and turned himself in a little over a year now clarnlgd with 15 fraud counts. authorities say he was diverting money to his own investments. he'll plead guilty to every one of those later this morning. jeff skilling, a huge loose end. this case has implications not just for jeff skilling who has already served three years of his 24-year prison sentence but may also define once and for all what constitutes fraud. skilling's case is one of three the court is hearing this term on a statute that says it is a crime to deprive your employer of your honest services. critics say the law is unconstitutionally vague. also at issue whether the case should have been moved from enron's hometown of houston all this before the supreme court on monday. skilling's attorne

. >> the senate budget committee chairman said this is a ponzi scheme that would make bernie madoff proud>> reporter: and act four: the monologues. >> certain things are facts. >> why can't we come to an agreement? >> what we all agree on. >> we want you to succeed. >> reporter: over and over, despite a fair amount of meaningful discussion, lawmakers broke into speeches implying the facts supported them, that the other side was being unreasonable and if no agreement comes it will be the opposition's fault. in the end there were no bows, only exits, and in d.c. a true odyssey of political theater. the president's normally the first to depart, was the last to leave. >> you guys are still here? >> reporter: tom foreman, cnn. >> that was a pretty big stack of papers. cantor looked like he was having a hard time looking over them. >>> coming up, out of control health care costs. it's been the buzz word the entire day today. i'm going to take you into my operating room and show you how a typical hospital bill breaks down. first, latest on other important stories. >>> thanks, sanjay. we start ou

. >> this is a ponzi scheme that would make bernie madoff proud. >> politics, i think, ended up trumping practical common sense. >> larry: with us are two distinguished americans. one a former governor, one a former senator and both physicians. both in washington, dr. howard dean, former chairman, democratic national committee. former governor of vermont. author of "howard dean's prescription for real health care reform." dr. bill frist, former republican senator from tennessee, was senate majority leader. he's a heart and lung transplant surgeon and author of "a heart to serve: the passion to bring health, hope and healing." we start with dr. dean. what, if anything, did the health care summit accomplish, howard? >> i thought it was refreshing to have people in the same room who had been at each other's throat for a year talking mostly policy. some politics. mostly policy. i think that was a good thing for both the republicans and the president. >> larry: what do you think, bill? >> well, first o all it was amazing to me after having spent 12 years here, 6 years with president clinton,

. >> this is a ponzi scheme that would may bernie madoff proud. >> politics, i think, ended up trumping practical common sense. >> larry: with us are two distinguished americans, one a former governor and one a former senator and both physicians both in washington. dr. howard dean, former chairman of the democratic national committee and former governor of vermont. and dr. bill frist, former republican senator from tennessee who was the senate majority leader. he's a heart and lung transplant surgeon and author of "a heart to serve." what does it accomplish, howard? >> i thought it was refreshing to have people in the same room talking mostly policy, some politics but mostly policy. it was good for both the republicans and the president. >> larry: what do you think, bill? >> first of all, it was amazing to me after having spent 12 years here, 6 years with president clinton and 6 years with president bush, i saw nothing like that, to have a president of the united states spend seven hours moderating in a very fair fashion some really good ideas from both sides of the aisle. i thought it

. >>> get this, a relative of burr nad madoff is changing her name.married to buernie's son mark. she filed court papers for herself and her two kids to drop the madoff name. she probably doesn't want that out there, robben . >> she just wants to leave the name alone. >> completely. she's still married. it's not that. it's just the name. >>> a teacher danceoff sounded like kind of a fun idea for a pep rally until it became a lap dance dance off. >>> one of the most taulked abot people at the olympics may be heading home. >>> if you're running late, you must not have signed up for my wake-up call yet. how does this work? fifrs off, it's free. you dial one time. 1-888-robin-hln. coming right there on your screen. you indicate what time you want to be awake monday through friday and it is me calling you at the other end of the line telling you what the big news story of the day is and telling you, don't you go back to bed. you know you'll be in trouble if you do. you can leave a shoutout for the rest of us, too, if you feel like it. >>> a 19-year-old is

and secondly, and again, i know madoff -- i know more now than i did then.obably would've know them because of the work i do now. i think truthfully with the intifada still raging in palestine it would've been pretty difficult to have got this thing back together again. however, having said that i was very frustrated about it because they believed then and i believe now that when these are not divisible problems, is one problem with different facets. and one major facet of the whole problem is this israel palestine conflict not because evidently the existence of israel has provoked this conflict. i totally disagree with people who say that that the resolution of the conflict would have been enormously beneficial impact on relations with the muslim world. >> i think, if i recall rightly, you were arguing very strongly throughout 2002 to the white house and making progress on this problem was that the state not a trade-off, it was because achieving progress on this was going to make a huge difference to opinion in the region, to reactions in the region, to the

that is just bernie madoff accounting. we want to work. but we want to work step-by-step. so does the overwhelming majority of the american people. i hope we will. i hope we will. there are areas that we can agree on. but to go to the 51 votes, instead of this traditional 60 in the united states senate, will have cataclysmic effects. and by the way, the vice president said he didn't know what the american people -- i know what the people in arizona want because i've been traveling all around the state. town hall meeting after town hall meeting. phone calls, letters. they don't want a massive -- >> they say they want to get something done. on that point, the 51 votes, the reconciliation has been used for president bush's tax cuts, for welfare reform, other bills in the past. >> it's not been used for one-sixth of the gross nationa product. robert byrd, the expert in the senate, said it would be outrageous if we used reconciliation for this issue. so, i still want -- we all still want to sit down. we want to negotiate. and we want to try to get something done. but the majori

who allowed bernie madoff to run off with our money? we make these little stories around the edge but we miss the fundamental problem that actually we believe we can see through the markets but we see very little and need to develop other ways of sensing and valuing the this faulty faculty of the market fundamentalism. [applause] just a few of the reasons after we have the discussion you should get a copy of "the value of nothing." by the way everyone will be signing books afterwards, and we encourage you to ask questions on those index cards i think they were passed out or they will be if he would like to ask a question. very good. and we will come to them soon. but naomi, we were just together at the end of december at this remarkable world gathering in copenhagen for two weeks, what some called the most important diplomatic summits in history over an issue that in this country doesn't get very much attention but in the rest of the world is of grave concern and a central point for organizing. it was hard to go to any event at the -- t

i mean, when you consider things about the present condition of congress, the sec with madoff, immigration, osha, katrina, on and on, and now we are down to the health-care issue. my question to you is, do you understand why americans may feel that government is too big to fail and too big to govern? guest: i agree that government is broken. you cite a bunch of examples that are completely legitimate examples. we have not adapted, frankly, -- or our government has not adapted took 21st century and the realities we face right now. we have not fixed the way we approach national security. we are still using a cold war approach rather than a 21st century approach. we have not adapted to the mobility of the labor market and away the labor market works and the change in what companies are like. and that is going to have to happen. the problem we have right now frankly is that there is a much bad faith here in washington, that making any changes runs up against a brick wall. i think it would be great if we could get people from good faith from both sides of the political spectrum to hash it out.

receiving fiscal lectures from this crowd is a little bit like getting financial advice from bernie madoffyou know, when george bush took the presidency, the debt was $5.6 trillion. and under house majorities in the house and senate with a republican president, the debt doubled. part of the reason is the expiration of pay-as-you-go budgeting principles. don't take my word for it. the record is clear. when we adhere on a bipartisan basis with the bush i agreement, the budget 1997 agreement and the democrat passed 1993 agreement to pay as you go we set the path toward surplus. when it expired, the deficits exploded. now as we get our handed around this fiscal -- hands around this fiscal situation, my friend, mr. ryan, is in part right when he says that this is not a full measured response. you know, we've got a long journey. the speaker pro tempore: the gentleman's time has expired. mr. pomeroy: we have to begin with a solid step. restoring pay as you go budget principle is that step. i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from wisconsin is rec

plans, workers would be forced to give up their 401(k) plans, into ponzi schemes that make bernie madoffook very good. there is also in the labor area the increases in taxation, not just income taxes. people can argue what level of taxes are good, but individual industries, specific ones, taxing 50% of bonuses from banks. we're not talking about taxing waitresses steps, a similar form of compensation bonuses, but we're picking on one particular industry. that brings us to capital. banks need to land but they are putting more constraints. the latest headline in the "financial times" was a tax on bank liabilities, but more liabilities, the higher taxes. if you want banks to lend, then they have more liabilities. why are we trying to shrink their liabilities? it does not help any small business that wants to borrow from we have credit card regulations where credit card companies are required to take anybody that comes. there are certain types of transactions that are not allowed. it hurts the most vulnerable among us. then there is what we can do to physical capital that this administration

pension plans, workers would be forced to give up their 401(k) plans for ponzi schemes that make bernie madoff, the increases in taxation, not just income taxes. everyone can are you what level of taxes are good, but individual industries -- talking about taxing 50% of bonuses for banks. we're not talking about taxing waitresses tips, a similar form of compensation as bonuses, an extra amount on top. we are picking on one particular industry. that brings us to capital. banks need to land, but they're putting more constraints -- the administration and congress want to put more constraints. i read an article where a tax on bank liabilities, the more liabilities, the high attacks. if we want banks to lend, then they have more liabilities. while we try to shrink their liabilities? it doesn't help any small business that wants to borrow from a bank. we have credit card regulations were credit card companies aren't as its required to take anybody that comes. there are certain types of transactions that are not allowed. this makes the interest rates for everyone to love, including the most but normal

the senate budget committee chairman said it is a ponzi scheme that would make bernie madoff proud. when you look at medicare cuts this bill treats medicare like a piggy bank. it raids money to spend on the new government program. when you look at what this does is according to the chief actuary of medicare he's saying as much as 20% of medicare's providers will go out of business or will have to stop seeing medicare beneficiaries. many seniors who chose medicare advantage will lose coverage they now enjoy. you can't say you are using the money to either extend medicare sol general si and offset the cost of the new program. that's double counting. when you strip out double counting and what i call gimmick. the full ten-year cost of the bill has a $460 billion deficit. the second has a $1.4 trillion deficit. probably the most cynical gimmick in the bill is something we probably agree on. we don't think we should cut doctors 21% next year. we have stopped the cuts from occurring every year for the last seven. we call this the doc fix. according to your numbers that costs $371 billion.

the senate budget committee chairman said it is a ponzi scheme that would make bernie madoff proud. you look at medicare cuts this bill treats medicare like a piggy bank. it raids money to spend on the new government program. when you look at what this does is according to the chief actuary of medicare he's saying as much as 20% of medicare's providers will go out of business or will have to stop seeing medicare beneficiaries. many seniors who chose medicare advantage will lose coverage they now enjoy. you can't say you are using the money to either extend medicare sol general si and offset the cost of the new program. that's double counting. when you strip out double counting and what i call gimmick. the full ten-year cost of the bill has a $460 billion deficit. the second has a $1.4 trillion deficit. probably the most cynical gimmick in the bill is something we probably agree on. we don't think we should cut doctors 21% next year. we have stopped the cuts from occurring every year for the last seven. we call this the doc fix. according to your numbers that costs $371 billion. it w