tremont was accused of missing warning signs of madoff's ponzi scheme. today's settlement raises the amount of money recovered for victims to more than $8.5 billion, or roughly half of the money lost by customers who filed claims. >> susie: raising financially responsible children can be difficult, but we have some tips to help you do it. in tonight's "kids and cash," lessons your children can learn while they're having fun. here's alisa weinstein, author of "earn it, learn it." >> i love when my kids role- play. i'll be doing a bit of work and i'll hear them in the other room, pretending to be teachers, or, if my son gets to choose, garbage collectors. and it's hysterical. they make costumes with whatever they can find around the house. and they-- meaning my daughter-- will decide who's the boss and what their tasks will be. but there's a huge piece in pretending to be an adult that many kids leave out of this kind of play: the payment part. you know, how adults earn money for doing these jobs in the real world. and i get why. kids see adults go to off

who invested with madoff. cards up, please.is roll the tape. >> assume the position. >> thank you, sir, may i have another? [ laughter ] >> what a great moment for kevin bacon? was that him? >> smells like bacon to me. >> oh. [ laughter ] >> no. >> bill: steve doocy everyone. doocy at foxnews.com. you both got that right. stunning. question number four, widely reported that president kennedy while in office had an affair with marilyn monroe. what? ♪ happy birthday to you ♪ happy birthday, mr. president ♪ happy birthday to you. >> bill: excellent rendition. all right. i don't know if i want that at my kids' birthday. >> father joseph also a hit with the hollywood crowd. he had a lengthy affair with which actress? >> bill: cards up please. that is correct gloria swanson. on the corruption level we know the tawdry tabloid stuff. >> of course. >> bill: important stuff we are not sure. >> like which university ken starr works at. >> bill: steve doocy leads with one to go maccallum. >> this is true. >> bill: question number five ted

does he disrupt as many lives as madoff actually did in real life?story happened just because hedge funds are such black boxes. like they oar so unregulated. and if you are a legit business person, that's great. but a lot of bad guys use them to -- for money laundering. they've gotten ill gotten gains. often based offshore. you know, and then if you look at the madoff thing you realize, wait a second. all they had to do was make one phone call to the depository trust corporation, right, and say -- you realize no one is looking at what these hedge fund guys are doing. so they are able to get away with so much. so my feeling is it's like ripe for fictional intrigue. >> so explain why you climbed into a steel casket. and how long did you spend inside the casket? >> it seemed like about an hour and a half. yeah, well, i decided that if i'm going to do my research right, i need to know what it felt like to be buried alive but i didn't want to actually be burr ed alive. so i called a bunch of -- >> sounds like a barnacle option. do it, but not really do it

last night we showed you video that they madoff young children. tonight kron 4's dan kerman looks at document that show case the mistakes. >> reporter: in addition to the video of a patrol agent touring the home and missing jaycee dugard who was held in the backyard and the other video showing them filming young children, the district attorney released numerous documents showing how the system failed when it came to protecting society from phillip garrido. first they released a map shows jaycee dugard was phillip garrido's fifth victim. after his conviction in 1977 he writes this letter saying in all respects my life has changed. i am ashamed of my past. this evaluation concludes phillip garrido has progressed well in treatment. prognosis for successful transition to the community is considered very good. this 1988 document from the state of nevada says phillip garrido is not a menace to the health, safety and morals of society. that same year they grant him parole saying it would not jeopardize the public welfare. once on parole one of his previo

that is the madoff plan. and the creators of security knew perfectly well they were creating the ponzi scheme but they would be dead and buried before they went bankrupt. but we have to be able to educate people about that. those instead of proposing plans to reform social security and medicare should do nothing but talk about what the problems are. how current medicare recipients are receiving three times of what they paid him. just keep talking about the problems and what democrats have to say. [inaudible] >> it is unfair to gross sarah palin with michele bodman? >> she emerged monday night from that comparison. she is mike stepheson but i also think you cannot win the presidency from the house of representatives. that any of your from minnesota you better go back and do organizing to run for the governor or at least the senate. [laughter] they take my orders. >> thank you very much. [applause] is. >> please form an orderly line. [inaudible conversations] [inaudible conversations] [inaudible conversations]

the definition of the ponzi scheme incoming money goes out to current recipients that is the bernie madoff plan. and the creators of social security knew perfectly well they were creating that everybody would love them but they would be dead and buried before it went bankrupt but we have to educate people about that i think the republicans instead of proposing plans to reform social security and medicare should do nothing but talk about the problems how current medicare recipients are receiving three times what they paid just keep talking about the problems and hear what the democrats have to say. [inaudible] [inaudible] you mean it is unfair to zero michelle bachmann in the same boat with sarah palin? >> i think she emerged from that comparison on monday night. michelle bachmann is magnificent i also think you cannot win the presidency from the house of representatives. of many if you are from minnesota you better go do some organizing to run for the senate or as a governor. thank you. they take my orders. [laughter] thank you very much. [applause] >> please form an orderly line for the b

low level con people have, bernie madoff has, the people who made the housing bubble have not. they took their fortunes and left while america was holding the bag. that is a failure in law enforcement. obama pledged to do that. he started a task force within the justice department called operation broken trust. it has never had any significant prosecutions or any significant investigation of what went down. the second is a failure to reform wall street. the dodd-frank bill was not great to begin with. poorly staffed agencies have to implement the rules that are besieged by lobbyists. that is on the democrat and republican side. obama failed to fight for a elizabeth warren or appoint her in the consumer protection agency. the third thing that is unfortunate is his record on jobs, while hardly worth less, and the stimulus save several million jobs, has never been the full focus of this administration. the image of favoring big corporate status quo and wall street even though in his heart of hearts, that is not what he believes. tavis: that may be a enough of an albatross to make

madoff plead guilty to federal fraud. is now serving one and 50 years in prison in north carolina. this we will be right back is kron 4 morning news >> they are hanging out on the beaches and sexism even though there is a tropical storm. tropical storm don is continuing to churn and slightly the eye of the storm is expected to hit tonight or early tomorrow morning. they do not think it will reach hurricane strength. the winds are expected to be about 50 mi. per hour during this area of southern texas has been plagued with a longstanding drought. the storm is expected to bring up to 6 in. of rain to the area. >> certainly the forecast is not a hurricane like. we are hot in the foggy. >> here is a look at the fog. we will put it in motion, it should pull back and have come to that as we are expecting. the fog will stay on the coast, the better part of the day, not until 8:00 p.m. or 9:00 p.m. does that pushed back. fog is going to hamper the warming kerria that is why we see some of the east bay locations like antioch or the south bay and warmer now and the rest of the debate, partic

i feel we make up a lot of the stuff, it's like making up bernie madoff. he exists but there's a lot of people who'll stole our money and let us money on property that we knew wasn't what we were paying for and that we were going to lose that money one day. there's a lot of criminality in american economics and a lot of it is based on a series of lies that nobody else is saying anything else but i think that we are worth a lot more than we believe we are. >> host: the next question is from los angeles. right here. hello, walter. this is victor. i'm sorry i didn't get a chance to see you today but now i have another book to track down. but listen, it seems to me we get sidetracked over issues to perjury, involvement of willson under the bush a administration, and it makes me frustrated as far as who was running things because we aren't addressing issues like to state it, anything from tax reforms, medical. i'm just getting frustrated like to stated earlier. is it even with my trouble to vote? >> guest: i am not an expert which is a good thing. i'm going to

saturation of debt and two thousand and seven and no amount of accounting fraud or trickery or bernie madoff like ponzi scheme ing canelo rejigger the books so that you've got any amount of growth to satisfy this amount of debt so you're talking about debt collapse all over the world it's a global debt lumps that's what we're talking about but speaking of wacko insane you know political actors political leaders and alice's indebt rao hints of emerging economy crises so here's reuters they look at the us and this silly brinksmanship in the crazy fighting that goes on over nothing debt default a ratings downgrade political deadlock such terms once associated primarily with the developing world now abound in the mighty united states i would say it was the once mighty united states and they interview a policy a foreign policy expert who says we attend a lot of meetings with latin americans and we used to complain to them about the problems they had and now they like to say to us that sounds just like the u.s. right well look at countries like brazil for example they got out from underneath the i

a movie in a millionaire who's basically you know they're sort of a legalized version of a bernie madoff we can tell the difference and right now it's very hard for financial elites to make the case that they're adding to our economy they are milking our stride and they need to be paying back paying back society for the damage that they've done there's less leopold economist and author of the looting of america now speaking of looting you can take this how you want but the united states has the most expensive health care system in the world get fewer americans can afford it more people are sick and people are getting poorer health insurance companies are getting richer don't believe me you don't have to let's look at some of the back up costs between two thousand and two thousand and six wages in the united states well those are the green line they have increased three point eight percent but that blue line that's health care premiums and they've increased by eighty seven percent now if the u.s. health care system were a country it would be the sixth largest economy in the entire world u

entertainer and a movie in a millionaire who is basically another sort of a legalized version of a bernie madoff we can tell the difference and right now it's very hard for financial elites to make the case that they're adding to our economy they are milking stride and they need to be paying back pain back society for the damage that they've done i think the american people understand that money should go from these financial elites to real job creating creation programs we believe in a basic equal opportunity as well and if you have ten percent or nine percent or twenty million people unemployed you're not going to have an equal opportunity society so i think americans can tell the difference i want to ask you because you're talking a lot about jobs and this is kind of a discussion that's been lost in the political fervor over deficit cutting what is being lost in the fact that this whole debt debate is taking up so much air time political time because i just read that people that are going to get laid off or that are being laid off after this week they will not be eligible for extended unemplo

there are more, there's more than just one madoff. >> yeah. >> .in this story, but it's not criminalsthese are good people who are living inside of a system that drives them to do the wrong thing, and, and what they need to do is take responsibility for their system, and to stand up and fix the system. even though they're not, you know, criminals themselves, they have to realize the system is driving us to destruction. >> and yet it's legal, i mean the, the.. >> it's totally legal. >> it's the old molly ivan's line maybe quoting somebody else, you know, the crime is not what's illegal, it's what's legal. >> it's legal. right. >> right. >> right. right. well, we have about 10 minutes left. i want to go to illegal and legal in the realm of copyright. >> yeah. >> .which is obviously, that was your shtick for a long time, and still is to a great degree. >> mm-hmm. >> you're the guy who has a point of view, whether it was through creative commons or the work you did out at stanford, the advocating you've done on behalf of, i, i think the, that sonny bono extension of the copyright law and

we are an entire culture of bernie madoff and martha stewart. both sides of the fence are -- >> but there is more on one side than the other. >> i don't think there is. >> i worked in media for 20 years. i know. >> the important question we need to ask, and i just want to table this is it is not is the media bias, but is the media honest about its bias. we have papers masquerading as objective analysis. >> are you talking about pinch? >> and then pretending not to be bias. >> j.f.k. slept with women and drank and popped pills and all of this stuff. the media covered all of that up. it was bias one side or the other. it is nothing new. it happened for decades. this is a nonstory story. >> paul is right. there used to be pro jefferson papers that were in the jefferson camp they knew lies about each other. there is nothing new about this. the owe nuss is on the read -- the onus is on the reader. if they do, they deserve what they get which is -- >> speaking of pinch, when did he get a tongue? >> he has always had a tongue. i never really looked clo

. >> actually i read the book and i thought it was interesting the only thing bernie madoff was guiltywas getting caught. i thought that was interesting. >> yes. >> courtney, finally doing the twitter thing? >> i joined a couple years ago, but i am officially tweeting now. i need a little chiron like you guys have. >> if you want people to tweet you put your phone number and home address along with it. >> and a picture of your foot. >> notes to friel. >> maybe don't tweet, courtney. >> awful. >> i tweeted you tonight. >> did you? i didn't see that. i will take a look. >> tweet me back. >> maybe i will. >> amazing conversation. >> yes, speaking of feet. >> it is like tennis between three-year-olds. >> bill, how is your foot? >> not good. it is pussy and i don't have my -- >> i just saw it. >> and courtney just looked at it. >> i thought i had a chance. also i am working on my business book called "it is more like hedge fund" and i have a feeling i will be out selling matt post haste. buy it, america. >> i don't think you know what that means. >> thank you, courtney, bill, matt, robert,

the justice department started operation broken trust but has gone chasing after mini-madoffs.en by the wayside, not only is the bill weak, but now it's being besieged by lobbyist, and lobbying democrats and republicans, so the rule maiking isn't happening. elizabeth warren, the consumer protection bureau, never fought for it, so he's sort of been to passive, i think, over the cloud that hangs over the country and has the affect of making the unemployment situation politically worse too because it's not clear he's on the side of the people who suffered most over the last three or four years. >> on those personnel and individual issues, on prosecutions, on the issue of elizabeth warren, do you think those things would have an important symbolic affect or do you think they'd have a material affect in terms of the recovery? >> in terms of the recovery, a symbolic effect of the the fact is i feel because he didn't address this and address this real injustice in the country, it sort of makes him be linked to wall street as sort of a defender of wall street even though he probably is

jeffs is the leader of a mormon fundamental sect. >>> the trustee tried to get money from bernie madoffeaking of money, someone offered bid for nearly $1 million to buy this rubber rendering of casey anthony's face. the mask was auctioned on e-bay. now we'll see if they actually come through with the money. >> i don't understand that at all. why would someone do that? >> i don't know. it doesn't make any sense. >>> up next, perry's principles. college rankings, do they do more harm than good? both sides of that debate when we continue. so, what are we going to do with this? i don't know. the usual? [ blower whirring ] sometimes it pays to switch things up. my - what, my hair? no. car insurance. i switched to progressive and they gave me discounts for the time i spent with my old company. saved a bunch. that's a reason to switch. big savings -- it's a good look for you. [ blower whirring ] [blower stops] the safety was off. out there with a better way. now, that's progressive. naturals from delicious, real ingredients with no artificial flavors or preservatives. naturals from purina cat

author of tangled webs, how false statements are undermining america from martha stewart to bernie madoffi have seen some of the previews of this book, and you would be well advised to be here. it's fascinating. also, join us for a lecture featuring the best selling author of double in the white city, eric larsen. he will be discussing his new book, in the garden of peace, love, terror, and an american family in hitler's berlin. tonight's lecture is being recorded by c-span. check your local listings for the broadcast day. you can see it again. at this time of what like to ask you to please turn off all your cell phones or pagers, in the electronic devices that might disrupt our program, or as the delta airlines flight attendants says, turn off everything that doesn't keep you alive. delta air lines. cheeky. our other this evening is david nichols. he will speak for about 40 minutes and take questions. david nichols is a leading expert on the eisenhower presidency. this evening he will discuss his new book, "eisenhower 1956". the christian science monitor called it one of seven history bo

they should have treated him like bernie madoff. taking the passport would have been sufficient. $5 million bond. ankle bracelet, house arrest -- >> you think that was a bit of a circus there. okay. again, establishing something has happened. does it come down to whether or not it was consensual or forcible or consensual with an agenda? this may have been premeditated because of the shady characters of whom this hotel maid and the accuser has aligned herself. >> it's all going to come down to whether the prosecutor feels there are too many inconsistent statements, just like the coby bryant case. they'll let the media attention die down and then toss the case. you can't put somebody on the stand that you believe is lying or that there's inkent statements. again, it's all about the credibility of the victim. so, yeah, you may have, you know -- if she allegedly is doing this to get a monetary value, obviously jurors don't like that, but there's a consistent statement. forget it. the prosecutor will toss it. >> did the prosecution bungl

the >>> the trustee trying to reach money madoff ponzi scheme, true month holdings has agreed to paybillion to the victim's compensation fund. >>> speaking of money, someone offered a bid for nearly $1 million to buy this rubber rendering of casey anthony's face. the mask was auctioned on e-bay. now we'll see if they actually come through with the money. >> i don't understand that at all. why would someone do that? >> i don't know. doesn't make any sense. >>> live at the top of the hour with breaking news. no vote tonight on the debt ceiling. we'll talk to ron paul, steny hoyer and our political panel next. host: could switching to geico really save you 15% or more on car insurance? host: do people use smartphones to do dumb things? man 1: send, that is the weekend. app grapgic: yeah dawg! man 2: allow me to crack...the bubbly! man 1: don't mind if i doozy. man 3: is a gentleman with a brostache invited over to this party? man 1: only if he's ready to rock! ♪ sfx: guitar and trumpet jam vo: geico. 15 minutes could save you 15% or more on car insurance. didn't really know what i wante

residents will vote on pension reform this madoff. the city's board of supervisors unanimously approved placing mayor ed lee's reform proposal in the hands of voters that would make city workers pay more toward retirement benefits and cap benefits received and raises the retirement age. mayor lee says san francisco would save almost $1 billion over a 10-year period. public defender has a similar measure which should make it to the ballot. he says it would save the city even more money. >>> oakland voters will soon get to decide the future of a tax mayor. the city council voted to place $80 per year tax proposal on special election mail only ballot in november. the mayor says a temporary five-year hike will net oakland $11 million a year. she says the funds would boost hiring of police officers and save libraries. oakland leaders closed a 58 million deficit but more short falls are expected later this year. >>> 5:04, the tension is high this morning in san francisco's bay view district. san francisco police will hold a community meetin

existing throughout the mortgage crisis and throughout the stock market issues that we had with the madoffagencies weren't able to stay ahead of the scam artists. so it's all right to have a consumer protection agency. the question is, do you give them unfettered power to walk into any business, whether it's a bank or a payday loan company or a credit card company and make policy without any oversight or accountability? consumer dos need protection. but the best protection consumers need also is to be a little bit skeptical. and once we think that someone's watching out for us and can do all these protection things, we tend to let down our guards. so the word is even if we have this agency, you still have to be double-checking before you put your money somewhere. >> chrystia? >> i think in the wake of the financial crisis, it's actually absurd that people are worried that a consumer protection agency would have too much power in the united states. the fact is that countries with more carefully regulated mortgage markets, like canada, for example, did not have a subprime crisis and their ec

stewart, author of tangled webs, false statements are undermining america from martha stewart to bernie madoff. i've seen some of the previous of this book, and you would be well advised to be here. it's fascinating. also in may choice for a lecture featuring the best selling author of devil in the white city, erik larsen, who will be here. he would be discussing his new book in the garden of beef, love, care and american family and hitler's berlin. tonight's lecture is being recorded by c-span, and check your local listings for the broadcast date you can see it again. at this time out like to ask you to please turn off all your cell phones or pagers, any other electronic devices that might disrupt our program. or as a delta air lines flight attendant said, turn off everything that doesn't keep you alive. [laughter] delta airlines stewardesses are cheeky. our author this evening is david nichols will speak for about 40 minutes and we'll take your questions. david nichols is a leading expert on the eisenhower presidency. this evening he will discuss his new book, "eisenhower 1956: the president

we should not run treasury and manage taxpayer resources the way bernie madoff ran his hedge fund by taking in cash and when asked for information refusing to give it and just saying trust me. i have a simple question. does treasury expect to run out of cash on tuesday, august 2? the president and the treasury eye department must answer this question, which brings me to my second point. it is much more critical we get a deficit reduction package right than that we adhere to this arbitrary august 2 deadline. this is one bill that gets that right from my perspective and that, of course, is cut, cap and balance. so far the only bipartisan votes taken by the congress on this debt ceiling debate are the vote for cut, cap and balance. in the house, and the house vote to defeat the majority leader's bill. those are the only two that are bipartisan. this debate is not over yet. i expect senator reid's bill to fail tonight and then it is back to the drawing board. my hope is that the president will then do what he has so far refused to do and that is take leadership, take a leadership role in

author of tangled webs, how false statements are undermining america from martha stewart to bernie madoff. i've seen some of the previews of this book, and you would be well edify is to be here. it's fascinating. also joining us for the featuring best-selling author of deval in the white city eric larsen who will be here. who will be discussing his new book in the garden of peace, love, terror and american family in hitler's berlin. tonight's lecture is being recorded by c-span and check your local listings for the broadcast state you can see it again. at this time i would like to ask you to please turn off all of yourself phones or pagers, any other electronic devices that might disrupt our program whereas the delta air lines flight attendant said turn off everything that doesn't keep you alive. [laughter] delta airline stewardesses are geeky. our author this evening is david nichols who will speak about 40 minutes and then take your questions. david is a leading expert on the eisenhower presidency. this evening he will discuss his new book eisenhower, 1956, the president's ear of crisis

boston globe is the largest yet by bernie madoff. to pay $1 billion to those defrauded by madoff. they ignored obvious warning signs. >> today, bob bradley is out as the head coach of the u.s. men's soccer team. they announce the former german player and manager is considered to be a top candidate. to replace him, bradley, a great coach. he is about as good as it gets on the international stage. that would be a huge coup for the united states. >> why did they bounce him? >> they did. they have had a rough couple of months. i think to get to the next level, they think it's time. >> time for a change? >> time for a change. >> great coach, great man. my brother jeff works for espn. >> his son plays on the team. they are great people. >> we had him on the show, great guy. we wish him the best. let's bring in mike allen the chief white house correspondent at politico. >> happy friday. >> long night for you last night, keeping track of this, i guess. >> the house leaders worked into the morning on this. they finally have some backing from

what criminals like bernie met -- in the investment realm, we have seen what criminals like bernie madoff can do. it is important that our anti- rod that this be effective. -- that our anti-fraud laws be affected. we need to have the necessary laws in place to deter this kind of thougfraud. we must promote the public awareness of the dangers of financial fraud. it has always been my experience when i was the captain attorney that when there was a major fraud committed, the citizens did not care who was prosecut ing. they just wanted us to get the job done. these crooks do not respect boundaries. they do not care if we are doing something in another country or another state. we need to be as sophisticated as the crooks who are breaking the laws. president obama form to be financial fraud task force in 2009. it includes u.s. attorney's offices, the national association of attorneys general. it is important that local prosecutors be represented. so many crimes since 9/11 when the u.s. attorney's office is focused on terrorist crimes, so many white-collar crimes like crimes involving millions

. >> a madoff-like w we who loses her fortune, her respect, her friends. in meeting up with her high school sweetheart, regains a lot of what she has lost. >> trying to start over and try herself anew. >> she has to turn her house into a bed and breakfast. if i can't get to nantucket, at least i can read about it. >> they're loosely based on real-life people and real-lie events >>> our scorching thrillers. the latest entry by tom clancy. >> definitely worth the read. what i love about tom clancy, he always seems t tpredict events that happen in the future. he foretold what was going to happen to bin laden. this book, he talks about the mexican drug cartel teaming up with the taliban. you always wonder what does this guy know? > all right, next, we have the adrenaline by jeff abbott.. >> the title speaks for it. it's a page-turner. lot of different plot twists. a guy who's wrongly accused of killing his wife. >>> here, we have the latest on agent oo 7. the next chapter in 00 12k3w4r7 it's set in the modern day. he's come back from the afghanistan war, inter

obviously, gordon gekko becomes bernie madoff and all the ripoff artist on wall street. the evil guy from "tron," i'm only have joke here, kind of is mark zuckerberg. [laughter] the a-team, the idea of the private contractor you have to hire to fix your problems for you is kind of, in some ways, blackwater or at least our reliance on private contractors and how we think about private contractors. and the evil guy, cobra, in "g.i. joe," was a very clear allusion to islamic fundamentalist terrorism. what i argue in the book is that these images, these stories became powerful in the 1990 and -- 1980s and enduring because of certain structural changes that were happening in our economy. and i told nathan by e-mail that i was going to do this. i stole and used one of the cover graphics of nathan's book to sort of highlight how this happened. but an argument in this book is that things change in the 1980s in a way that made the storylines and the iconography of the 1980s stick in a way that they never had. and so here are some examples. and there's your graphic. that's nathan'

madoff?ing by the people at the top. they feel hey, why not cut corners to make my life a little easier? >> i'm not a crook. >> it's always been here, part of human nature but in the last 10 to 20 years it's become significantly worse and is reaching epidemic proportions. >> i worry about america's moral compass. i think in some respects we are a nation of liars. >> thank you and good afternoon. >> boy, paints quite a picture. joining us is psychologist and "early show" contributor dr. jennifer hartstein. nice to have you back with us. i mean that sincerely. >> thank you. we both are not lying. >> we hear in the piece robert feldman, soesh kolgz studying lying for years, america is a nation of liars. are we? >> well, it's an interesting thing he says. we definitely seem to be lying more. research said that 50% of the worst lies are actually told by 5% of the population. so it's interesting, who are we watching? we might be watching that 5% of the population but the truth is that women and men