my name is madoff. i'll live with that for the rest of my life. >> speak out about crime, guilt, suicide... >> mr. madoff, what do you have to say for yourself? >> and the day bernie admitted to committing the largest financial fraud in history. >> and he said, "i have a confession to make. i've been running a ponzi scheme." [ticking] >> do you think you could pull off this scam today? >> given the same security measures? >> yep. >> easily. piece of cake. >> sam eshaghoff's scam was getting paid thousands of dollars to take the s.a.t. test for other students. he did it at least 16 times, scoring in the 97th percentile of the country. >> i would call him an academic gun for hire. that's what he was. >> welcome to 60 minutes on cnbc. i'm bob simon. in this edition, we examine two very different kinds of fraud. bernie madoff's wife and surviving son break their silence about wall street's most infamous criminal. and later, we visit a high school con man who figured the best way to make the grade was to che

not only was chase was madoff's primary bank for years, it was also the banker of some of madoff's biggestch means the bank should have been able to see both sides of his trades, or non-trades, as the case may be. u.s. attorney preet bharara and his attorneys are looking as to whether morgan should have alerted someone about his trades. he says this appears to be a civil probe. still serious, but no one is going to jail. and a spokesperson for jpmorgan says he believes his employees acted in good faith, but others disagree, like irving baa bar kard. he said the bank was in the very center of madoff's fraud. that suit was thrown out, essentially on a technicality, but picard is appealing. then there's bernie madoff himself, writing me yet again from prison this week. he says in his latest message that he's alleged before to me and others, the banks must have known and were complicit and were contributing to my crime. not just jpmorgan, he says, but other banks as well. he says he has evidence that he wants to share with congressional committees. so far, no takers. bill, sue? >> the congress

we are talking about gebernie madoff.ys the banks knew all along what's going on giving exclusive details with adam shapiro. an apa finally to china. take a look at this. a lamp post crashes down on a bus and nearly takes out that driver. amazingly he was able to get up and then the passengers off the bus. what a guy. >> a ponzi scheme of bernie madoff speaking exclusively to fox telling them what was up to. all of that in an e-mail adam shapiro to joins us now with more. >> we were talking about this in the hallway. a very interesting e-mail with madoff. >> it is clear. i am going to read you the e-mail. what madoff said to us first i am giving you permission and want you to talk about it my first interview to the media i said the banks must have known and were complicity and contributing to my crime. i have offered the bankruptcy trustee the information i possess that would demonstrate in detail their complicity behavior of banks jp morgan chase, citicorp, bank of ny, hsbc i am overing this information to the appropriat

ponzi schemer bernie madoff is casting blame from behind bars. the convicted con man who bilked $50 billion out of unsuspecting investors says banks "knew" about his ponzi set up. madoff reiterated to marketwatch.com from jail: "i have said that the banks must have known and were complicit and contributing to my crime." madoff hopes this will "prove helpful in future regulation of the appropriate institutions." the new york times reports prosecutors are checking into whether jp morgan failed to fully tip off authorties about madoff's suspicious finances. banks in cyprus are re-opening the doors, but not without some intense banking restrictions for the island's citizens. cyprus has imposed severe capital controls to avert the likelihood of a bank run. the new limits mean citizens of cyprus cannot withdraw more than 300 euros a day. credit and debit card charges are capped at 5000 euros a month. cypriots are also banned from cashing checks, though deposits are allowed. the banking restrictions are set for a week, but could be extended if authories

when reached for comment, madoff trustees say madoff's credibility has no substantial value.d to comment. the federal reserve ordering citigroup to turn over reports. now we continue our countdown to the closing bell. ♪ liz: and the coun countdown to e s&p hitting a record closing high. less than two points away right now from the record closing high. so there you have it. we are getting very close, look at this, the highs of the day basically so we will be watching this with 20 minutes left in the trading session. let's look at shares of solar city shining with a couple of other names. nicole petallides at the new york stock exchange. this one just went public. >> very interesting. watching shares jumping on some ambitious plans for the next couple of years. third-party ownership is what they're talking about. the ceo said basically an analogy between his company and cable providers, so he said comcast is a service provider, they have big plans of energy service provider rather than a solar installer. it is interesting, is it all about the perception and all these plans they

morgan was madoff's primary bank. what seems to be an issue here in what looks to be a civil probe, not a criminal probe is whether the bank could have let the regulators know about potential suspicious activity. doesn't seem to be rising to anything criminal. there have been a lot of people bho said that j.p. morgan had to have been more involved. they were on both sides of the trades. and then there is madoff himself who keeps writing me from prison and keeps on saying that the banks must have known and were kplis it in his crime. he says he has information that he is promising to pass on. so far no takers. >> i'm sure. the paper this morning tribed what is happening with jp morgan as a full court press. >> there is a lot of different issues on. as kate knows the whales situation is really heating up. not so much that the prosecutors are looking but that they are answering a lot of questions. this is just one of those things that they're dealing with. and it could turn into something. it certainly doesn't look good.

attorney's officer is looking into the bank's dealings with m m madoff. our sources suggest that it is civil in nature, not criminal. others allege that it has gone deeper than that. they could see both sides of the trades or non-trades. and then there is madoff himself, again claiming he has information on what he says is the behavior of j.p. morgan and other banks. he says i am offering this information to the appropriate governmental committees in the hope that this information will prove helpful in future regulations of the appropriate institutions. it is agreed that madoff and that the banks were in. >> there has certainly been a rough month for j.p. morgan and this doesn't help them. i want everybody to notice that scott and i with both wearing the same shirt here. we call it gingham style. >> you do that. i'm not. >> check out apple. it's in the red. near session lows. cutting their estimates for iphone shipments for the second and third quarters. talking about a demand pause. analysts at pacific crest saying they continued to anticipate very slow

just because bernie madoff is behind bars doesn't mean other ponzi action has slowed down. joining us via skype this morning is chuck malkus. he's author of "the ultimate ponzi: the scott rothstein story." good to have you on the show this morning. mr. rothstein was able to bilk $1.2 billion out of investors. how was he able to fool so many people? > > well angie, like most ponzi schemes, it is a matter of gaining trust first and then secondly creating a product, in this case a structured settlement, that he could sell, but unfortunately did not exist. > how lavish was his lifestyle? > > scott rothstein was someone who had three multimillion- dollar homes, a half dozen sports cars, including bugattis, and he was also someone who spent $60,000 a month on paid-for women - escorts. > what do you think was the most egregious thing that he did? you had an up-close view of what was happening. > > first of all he forged a federal judge signature to gain a $100-million-plus settlement in one case from a client. secondly, he hurt charities. he would give with other people's money mi

. >>> bernie madoff says of course the banks knew about his ponzi scheme. writing from prison, the disgraced financial adviser specifically points the finger at chase, mellon, hsbc and citicorp but says there are others. madoff has said he has offered to help the various investigators. but no takers. he was convicted of running a $50 million ponzi scheme. >>> gas prices are falling as we head toward easter. the average price nation much wide this morning is $3.65 a gallon, a nickel less than a week ago and a quarter less than last year at this time. aaa says it is too soon to say whether prices have peaked for the spring. proposed merger of us airways has cleared another hurdle. it won approval from a federal bankruptcy judge. although he did express reservations about the package for the ceo. it needs the green light from us airways stockholders. >>> stephen cohen spending like there's no tomorrow. listen to this. earlier he made news when he bought this picasso for a record 155 million bucks. now we're learning from "the new york times" that he just spent

the trustee over madoff's firm says jpm, madoff's main bank, ignored numerous warning signs.ny spokesperson tells the "times" they believe it acted in good faith. and their shares up, in fact, today in early trade in frankfurt, even as that index is down about 0.7%. >>> the u.s. bankruptcy court judge could approve today american airlines' plan to merge with u.s. air to create the world's biggest airline. the severance package for ceo tom horton is also on the agenda. u.s. regulators will have to sign off on the $11 billion deal. shares down about 0.5% in frankfurt. >>> and what's in a name? apparently, not enough for hewlett-packard. it's reported they want to pull the plug on its deal for the sports arena in san jose, california, as you see it there. the hp pavilion hosted ncaa basketball games this past weekend and is home to the san jose sharks, but reports say ceo meg whitman wants out of the 15-year, almost $50 million deal, due to end in 2016. the move is part of hp's re-evaluation of its marketing and sponsorship efforts. s.a.p. is said to be interested in taking over

the trustee tells fox business that madoff's credibility is highly suspect.e fox business network, giving you the power to prosper. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. findut why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. david: it's hard to put a price tag on innovation particularly in health care. that's why a lot of folks are so worried about a new health care tax being applied to one of the most innovative new areas of private health care that is the use of medical apps for increasingly busy doctors. here to discuss the new tax and how might affect private practices and your health care, dr. steven greer, health care channel see -- ceo and health care

nicole at the new york stock exchange, and, folks, you heard it here first, we had the madoff lettere banks knew what he was doing, and, today, nicole, it is having a spillover effect on jpmorgan itself. >> right. it's key because you know investigators look at jpmorgan in loight of what they hear, and they are to the downside today, worse performer in percentage, and jpmorgan down 1.5% from a moment ago. liz: adam broke the story yesterday, and when he spoke to people, they said, oh, madoff doesn't have credibility, but give the market time to absorb the story, and, boom, what happens, blackberry, get to that one, a little bump ahead of the earnings release. there could be a short squeeze if they have good numbers. >> loutly. that was my point, too. there's a lot of shorts involved with blackberry and disappointment about the launch. goldman sachs was not hot on the fact of what they have been selling. we'll see what happens. there were a lot of high hopes there for blackberry and the z10. david: high hopes for social networking, and faceboo

madoff, the banks knew all about his scheme.om his jail cell. >> steve: they were in cahoots. >> brian: i don't know what that means. >> steve: this weekend, you can have the bunny, and even the egg, just not the easter p the e just try to make sure that we don't say the easter bunny so we don't infringe on the rights of others because people relate the easter bunny to religion. >> steve: okay. somebody call the pc police. "fox & friends" hour two for wednesday starts right now. >> steve: we love the bunny. >> brian: i thought so. i always thought until now that you could say easter bunny without freer of reprisal. >> gretchen: my kids didn't have homework monday night because passover, even though the majority of the kids probably celebrate -- >> brian: that's not right. >> gretchen: i'm just saying. so if you're going to observe one particular holiday, which is wonderful, then why would you exclude one that the majority of the people will be celebrating? >> brian: my kids celebrated rebellion day and i was against that. then r

prosecutors are looking into how jp morgan chase responded to suspicions about bernard madoff. the new york time says prosecutors expect the banks may have violated a federal law acquiring banks to alert authorities to suspicious transactions. jp morgan believes they acted in good faith and in compliance with the law. madoff is serving a 150 year prison sentence for fraud. >>> google is starting to notify people who will become the envy of the geek world. they are the 8,000 winners of the glass contest. google asked people to submit a 50 word explanation saying what they would do if they had the internet connected glasses. the winner has to pay dollar 1500 for the test version and travel to san francisco, los angeles or new york to pick them up. and they will be available to the public by next year. >> pam, i need them. >> i know you do. >>> the city of oakland arguing with the man in charge of overseeing police reforms. we'll tell you why they are disagreeing. >>> amazing video of a lamp post. oh my goodness. narrowly missing that bus driver. this is in china. the reason he's

prosecutors are looking into how jp morgan chase responded to suspicions about bernard madoff. the new york time says prosecutors expect the banks may have violated a federal law acquiring banks to alert authorities to suspicious transactions. jp morgan believes they acted in good faith and in compliance with the law. madoff is serving a 150 year prison sentence for fraud. >>> google is starting to notify people who will become the envy of the geek world. they are the 8,000 winners of the glass contest. google asked people to submit a 50 word explanation saying what they would do if they had the internet connected glasses. the winner has to pay dollar 1500 for the test version and travel to san francisco, los angeles or new york to pick them up. and they will be available to the public by next year. >> pam, i need them. >> i know you do. >>> the city of oakland arguing with the man in charge of overseeing police reforms. we'll tell you why they are disagreeing. >>> amazing video of a lamp post. oh my goodness. narrowly missing that bus driver. this is in china. the reason he's

madoff has accused banks of being complicity and helping him in his crime, the banks have denied anyf what he was up to. fox business is reaching out to the banks to see if the any comment on this and we're also reaching out to the trustee to see if the trustees' officer has any comment on this but the bottom line and the headline is that bernie madoff appears ready to testify before congress which may be a bid to get out of jail just one last time before he gets his reward or it may be something legitimate and he has something to say in the form of naming names. back to you. cheryl: adam live in the news room with the breaking news. thank you. well, new home sales are up, up and away again. the index rising in all 20 cities but the housing expert says buying a home is a bad investment. he's here to tell us why. dennis: and the president says a cyber threat is a number one priority. with that in mind, some are calling for sanctions against the countries that right us. we'll see if bill richardson agrees. cyber threat report continues. now take a look at oil. ♪ [ male announcer ] how

. >>> prosecutors are examining whether the bank fully alerted authorities to suspicions about madoff, they said they acted in good faith. >> and a coal and iron company was the worst performing stock in s&p 500 today. morgan stanley down graded the stock. it's down more than 70% over the past year. >> we have been reporting on paying for college, which for most students and their families involves taking out loans. as we wrap up the series, hitting the books, we report that with growing debt comes growing problems collecting it. >> reporter: $3.5 billion in student loans have gone bad in the first three months of the year alone. all told, $85 billion in defaulted federal student loans, nearly 7 million borrows. like jason, he is 46, graduated from bingham ton university with $20,000 in debt. he got sick, fell behind and interest and fees piled up. on that $20,000 in principal, he has paid $26,000, but the government said he owes more than $39,000. >> i never thought i would be pushing 50 years old and still talking about this. >> he said that he has been hounded by collection agents

now, he is considered a good politician, which is like saying bernie madoff was a good salesman. >> the day wrapped up with a result of the cpac presidential straw poll which shows senators rand paul and marco rubio as the early favorite of those who were in attendance. david gregory is moderator of "meet the press." good morning. >> good morning. >> what do we take away at this point from sarah palin's speech? what does it tell us about her plans for the future, do you hi? >> i don't think we take a lot of -- take away a whole lot. i mean, i think she can give a speech that can right up a conservative crowd with jokes and comparisons to bernie madoff that a lot of people would find offensive, frankly, but you hear -- i think whatever lasting impact sarah palin has is not as a future politician, but it is as someone in the conservative movement who still can really work the grassroots. you know, senator cruise, who is now a controversial senator from texas, gives palin credit for him becoming senator. i think it's in that way that she still wields some influence. >> she had a number of

this time it involves bernie madoff. oops. tell you what's going on there. >>> also, why on earth is vladimir putin's bodyguard getting pushed around by a south african security guard? doesn't he know who that is? now the russians are lashing out about that. up next, more of this incredible video and the ramifications it could have, coming up. has an equally thrilling, lesser-known counterpart. conquer them with the exhilarating is 250. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. arrival. with hertz gold plus rewards, you skip the counters, the lines, and the paperwork. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be traveling at the speed of hertz. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how

probably going to be the candidate against that madoff is actually in the united states at the moment and documents are available which shows that there's a significant amount of many millions of dollars pumped into the opposition parties in venezuela from both the republicans and democrat parties so the americans are certainly trying to influence events in venezuela or chavez championed economic reform funding it with a vast oil wealth venezuela's one of the world's biggest oil producers and nations depending on those supplies a keenly awaiting what happens next not least of course the u.s. parties katie pilbeam explains. venezuela is a major player in the world oil trade its deposits are estimated at around two hundred ninety seven billion barrels as you can see just there that's comparable to those of saudi arabia the world's biggest or producer another country is currently the fifth largest oil exporter amounting to ninety five percent of the country's export earnings but actual production is far behind that's due to decades of investment since one thousand nine hundred ninety eig

adam: the infamous ponzi scheme where bernie madoff a speaking exclusively to fox business, he said "from my first interview to the media, i have said that the banks must have known and were complacent and contributing to my crime. although i have offered the bankruptcy trustee the information that would demonstrate in detail the complicit behavior of banks like jpmorgan, bank of new york, hsbc, citicorp and others, the trustee seems unwilling to act on my offer. therefore, i am offering this information to the appropriate government committees in the hope that this information will prove helpful of the appropriate institutions." melissa: no word yet. adam: this is operating within the last 45 minutes. he is naming the banks now. we are reaching out to the banks. they have denied any complicit action. this is a move on his part to get out of jail just one last time. or is it legit? melissa: i know you have been in contact with him for a long time. adam: i think he wants a lot of attention. he has been sitting on information that he has not shared. he may have something -- he says he f

which, is like saying bernie madoff was a good salesman. >> reporter: criticizing even her own party's own post-election efforts. >> we're here to rebuild a country. >> reporter: which led some to wonder, is she running in 2016? >> sarah palin enjoys the perks of being famous, i don't think that she enjoys the scrutiny that comes with running for office. >> reporter: she enjoyed poking fun at politicians like new york mayor michael bloomberg. >> mayor bloomberg isn't around, our big gulp is safe. >> sarah palin is better than any other republican politician at presenting herself as an outsider. she's very good at running against washington, d.c. >> washington politicians have a bad habit on focusing of the process of politics instead of the purpose of politics which is to lead and to serve. >> also criticism, palin offered no new ideas maybe she's waiting until christmas where she'll release her new book. >> thank you very much, sarah palin and the conservative straw poll will be among the topics on "this week." martha raddatz is filling in for george stephanopoulos and she joins us wi

he's considered a good politician which is like saying bernie madoff was a good salesman.he difference being the president is using our money. you know, i spend most of my time in fly over country. the heart of the are the had land of america, i have news for the permanent political class in washington, while they are busy worrying about their own political future, things are bad out here. nearly 8 percent unemployment rate doesn't begin to capture how bad things are. even the dismal rates announced of point one percent of the economic growth doesn't tell the story of the pain that americans feel. our president fancies himself as the champion . middle class. yet since he came on the scene, those lucky enough to have a job. they are working more for less. the median income of families has dropped over $5000 since 007 . job creators are being punished. it costs $100 to fuel up your truck. it compts tens of thousands to send your child to college. man, the price of the case of diapers today. these prices and the cost and the impact on the american family budget and while the

the tea party darling jokes at a conservative conference, comparing president obama to bernie madoff,rinks a big gulp to poke fun at the soda ban from mayor bloomberg. >> bloomberg is not around. our big gulp is safe. >> could this be a signal that she'll be running for the office again? >>> and home on the range. i do some riding and roping at the world's largest rodeo. got him! so, can this city girl be turned into a cowgirl? >>> and happy st. patrick's day, everyone. to quote the famous proverb, may the luck of the irish be with you. our bagpipers are from the first battalion, 69th infantry of the new york national guard. they'll be here throughout the show. we're also going to have irish dancers and dan abrams. are you going to be dancing as well? >> we got these great, cute, amazing dancers. then, dan abrams. >> feel free to dance. >> during the week, they have the deejays, we get the bagpipes and the dancers. >> i like the bagpipes. dan abrams filling in for the vacationing dan harris. ginger and i wri

. >> i remember bernie madoff and a photographer stiff-armed him and he jerked back, and that was the that's the one they used all the time. >>> so boys and their toys, this is bizarre-o. at the fillies ballpark, they have this new minor league ballpark -- >> all right, pam, wow. tough room. >> apparently they have urinals there that they've turned into video games. >> why not? >> because a man doesn't want to be bored. >> while they urinate, they play a game and they are skiing, and they point their aim -- it's like a joystick -- of course it is. >> way to go, hoda. >> you point it wherever you want to go, and you get a score. i'm sure they're competing. how did you do, dude? >> i feel sorry for the guys having prostate problems. they're at a disadvantage with this game, and also i think it's sexist, because women can't play. i think it's wrong on every level. >> yes, so do i. >>> anyway, should we talk about the dogs again? no. >> oh, my gosh. how long do we have to wait? >>> we're doing it now, we'll take a commercial break, and we'll go to meet these dogs, and i said i'm going to

bernie madoff was in tell against and smart and cunning.e ppeople who have power fon the consequences. when i saw the clip that came out with her singing and doing hand stands i agree i think it was here -- she wasn't sure where she was going to go. am i going to claim insanity. claim self-defense. she was just giving herself options and she is cunning. >> she could claim insanity but she never did. fred? >> i tell people this all the time. how people act indicates what their mental state is. if you were in the room. >> i would be looking for a knife to lit my wrists. >> i would be hiding under the desk. innocent people get frightened and scared. this woman is a manipulator and powerful liar and evil bad person. >> judge jeanine: what about the people who make the excuse when they say you can't predict how someone is going to act when being accused of murder? >> everything this woman has done from the get h-go has been calculated and manipulative and done with cause and reason. i don't think there is a single -- >> here is jodi talking abou

now the prosecutors are probing jpmorgan's actions during that time, during that madoff ponzi scheme see what they find. back to you. tracy: sure will, nicole. see you in 15 minutes. ashley: okay, well, look, cyprus finally preparing to reopen banks tomorrow but with some restrictions. as you can imagine quite a lot of security in place. it has beenna chaotic sequence of events that all came to a head 11 days ago. when on march 16th cyprus became the fifth eurozone member to ask for a bailout. in exchange for a 10 billion euro lifeline, banks deposits of more than 100,000 euros would be hit with the 6 1/2% tax and those with less would be $3.25. we take a look at the timeline. as protesters hit the streets, banks were closed fearing a run by panicked customers could wipe them out. three days later under intense pressure the cypriot parliament rejected the tax proposal. three days after that on march 20 1st, the ecb getting more than miffed, angry. unless the bank tax is put in place the emergency bailout will be cut off within the week. okay? one day later, march 20 second, cypriot l

you are considered a good politician like to bernie madoff was good salesman. >> reporter: sarah palin got seven standing ovations when she spoke to a full room of a packed crowd here at cpac. >> kelly: molly henneberg in maryland with live all the action. thank you as always. one of today's most anticipated speakers is national committee chairman. we expected him to step to the podium later this hour. we will bring it to you live along with the straw poll as soon as they come in. >>. >> jamie: new reports that north korea test fired two short ranged missiles yesterday. take a look at pictures of the launch that happened last year but the latest pro vocation comes as the pentagon prepares to beef up missile defenses in threats of new war with the north korean regime. the missiles landed in the sea of japan. >> kelly: we have seen north korea's rhetoric escalating in the last few months. in october of last year you'll recall days after south korea and u.s. unveiled a new missile deal, north korea warned it had miles that can hit the u.s. mainland. in december last year a rocket launch p

when bernie madoff ran out money that's when they had to tell people he ran out of money. i understand what you're saying. we have not solved our own situation where how do we unwind our next bigger bank. we didn't do that. we didn't lit the guy owns 00,000 above fdic didn't get wiped out. maybe somebody will get wiped out and should be known before the crisis happens. this limit how much you will take out will create long lines for days and days which feeds panic. would be better, take whatever you want out. we're 100% fine and you're insured. wouldn't be trips to atms over days and shorter lines and panic maybe gone away faster. because how they're handling it will go on longer. >> james let me ask you before we go. a lot of people saying this is the germans saying we'll not bail out russians because that -- >> why should they? melissa: that is what is comes down to. we're all blowing it up into something big i recall than that and drumming the russians in essence out of the european union where they felt they didn't belong anyway. >> if you study all the depositers they

. >> before madoff, there was jordan belfort. apparently he made money off the movie. liz: thank you. you are not going to morgan stanley. >> but they are going to have brian steel. would you short the stock now? liz: not over that. [laughter] liz: good to see you, thank you, charlie. closing bell ringing in 26 minutes and change. the fed, look it is obvious, will eventually have to tighten rates. the question is, when will ben bernanke and company do that? what does that mean for your portfolio? and how should you organize your portfolio? charlie is saying short the dow. but guess what, len tannenbaum is the ceo of fifth street finance, he's got some great protection plans. it's a fox business exclusive. ♪ [ female announcer ] from more efficient payments. ♪ to more ficient pick-ups. ♪ wiress is limitless. [ female announcer ] from tracking the bus. ♪ to tracking field condions. ♪ wireless is limitless. ♪ investor. yeah, ibut i'm a busy guy.or it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to know e

now, he's considered a good politician, which is like saying bernie madoff was a good salesman.rence being the president is using our money. you know, i spend most of my time in flyover country, the heart of the heart land of america. and i have news for the permanent political class in washington. while they're busy worrying about their own political future, things are bad out here. nearly 8% unemployment rate. it doesn't begin to capture how bad things are. even the dismal rates announced of 0.1% economic growth. that doesn't tell the story of the pain that americans feel. our president fancies himself as a champion of the middle class, yet since he came on scene even those lucky enough to have a job, they're working more for less. the median income of families has dropped over $5,000 since '07, even as we work longer and longer hours. and job creators are being punished. tell me, how does punishing the job creators create more jobs? it costs nearly 100 bucks now to fuel up your truck. costs tens of thousands of dollars to the send your child to college. the price of a case of

the rachel madoff show starts now. who's your pick to win it all? >> my pick obviously is gonzaga, because it is the funnest name to say. but women of america can share your ice cream. this is going to be on bumper stickers by tomorrow morning. >> thank you for staying with us this hour. usually when the president of the united states is traveling abroad things slow down at home in terms of political news. but that is not true of today. yes, the president is in israel. it's his first trip there as president. we'll have more on that trip in a moment. but while he is in the middle east, here at home the nation is marking the 10th anniversary of the war in iraq. richard pearl who was wrong about iraq and al qaeda, wrong about iraq and nukes, wrong about how easy he said the iraq war would be, richard pearl marked the 10 year anniversary of the invasion by telling national public radio that it was not reasonable to even be asked whether that war should have been waged. washington, congress itself is busy ignoring the anniversary of the war, since i thin

this is not bernie madoff. it is not a rip-off of the average american. getting a tip, maybe, about invidia end dell stock in making some money on it. i'm just saying, writing a whole book on this and i believe they're going after insider trading because they could not go after people during a financial crisis. that is one of the themes. they did not get anything. this was like low hanging fruit. at the general public should ask themselves. this is not a popular thing. is this worth it? are we wasting way too much time on whether he traded early on the stock? by the way, in order to do some of these. liz: they would argue that if there are a lot of other hedge fund options doing this this man says the biggest. liz: i agree, but what is the big deal? liz: that is your opinion. you have been clear about it. what is your book titled? >> reporter: circle of friends. liz: is there a song or movie about the title? >> reporter: i don't know. a romantic comedy. liz: tweet me and let me know what it is. follow me. we have a new twitter follower. >> reporter: roman

ahead of jerry sandusky and bernie madoff. but is there a new contender for that crown?odi arias? because jodi arias also admits that she shot and stabbed and slashed her boyfriend, but she says it was in self defense. but then she changed her story. first she said she didn't do it at all, then she said intruders killed alexander, then came the evidence against her, then the mea culpa, then the battered woman's defense, which led to this spectacular question from a juror that was read in open court by the judge. >> after all the lies you have told, why should we believe you now? >> lying isn't typically something i just do. i'm not going to say that i've never told a lie in my life before this incident, but the lies that i've told in this case are -- can be tied directly back to either protecting travis's reputation or my involvement in his death. >> and there's her answer. joining me now is noted defense attorney jose baez. hello, jose. nice to see you again after all these years. >> great to see you as well, ashleigh. >> we spent a lot of time in the courtroom together

those pale in comparison to profits madoff the ar-15, the bush masters, so this is a different business model that existed in the gun industry and the nra as we have shown in reports released from our office is making millions of dollars from the gun manufacturers in a way they didn't decades ago. they're tied together here. >> and we saw progress recently in colorado where it is at least as difficult to legislate in this area as it is in washington. they're on the way to limiting magazine capacities to 15. is that the kind of thing gives you hope for what's possible in washington? >> absolutely. i mean, the american public has decided where they are on this. you're talking about 90% of americans that want universal background checks. 80% of gun owners. majority of americans want to see these assault weapons off the streets. i mean, shame on congress if we can't find a way to get to where 80 to 90% of the american public is. i still think we get it done and colorado's action certainly hopefully give courage to legislators on the fence in washington. >> connecticut senator chris murphy g

now, he's considered a good politician, which is like saying bernie madoff was a good salesman. [ cheeringfference being the president is using our money. you know, i spend most of my time in the heart of the heartland of america. i have news for the permanent political class in washington. while they're busy worrying about their own political future, things are bad out here. nearly 8% unemployment rate, it doesn't begin to capture how bad things are. even the dismal rates announced of 1 point% economic growth, that doesn't tell the story of the pain that americans feel. our president fancies himself as the champion of the middle class. yet since he came on scene, even those lucky enough to have a job, they're working more for less. >> you know, it's very interesting, the outpouring of sentiment that i received after the speech at the national prayer breakfast. i got so much mail, letters, books, just amazing from everybody. and some of the more poignant ones were from older americans who said they had given up and they were just waiting to die. now they felt a sense of revival once again.

madoff, the banks knew all about his scheme. business exclusive straight from his jail cell. >> they were in cahoots. >> i don't know what cahoots means. >> i'll explain shortly. [ man ] i got this citi thankyou card and started earning loads of points. we'll leave that there. you got a weather balloon, with points? yes i did. [ man ] points i could use for just about anything. go. ♪ keep on going in this direction. take this bridge over here. there it is! [ man ] so i used mine to get a whole new perspective. [ laughter ] [ male announcer ] earn points with the citi thankyou card and redeem them for just about anything. visit citi.com/thankyoucards to apply. i really like your new jetta! and you want to buy one like mine because it's so safe, right? yeah... yeah... i know what you've heard -- iihs top safety pick for $159 a month -- but, i wish it was more dangerous, like a monster truck or dune buggy! you can't have the same car as me! [ male announcer ] now everyone's going to want one. let's get a jetta. [ male announcer ] v

seeking to hold the government liable for losses resulting from hurricane katrina, as well as bernie madoff's ponzi scheme. before that he was an assistant county attorney for miami-dade county and he clerked for the honorable james lawrence king in the southern district of florida. now, after jam, our attorney from the federal trade commission will discuss online payday lenders. i'd like to point out there is no national userry cap for pay day loans. la shawn will be focusing on a lot of issues that they're not concerned about, but focusing on how the loans are marketed. lashawn johnson works on a broad range of consumer credit and financial service issues, including challenging unfair, deceptive acts or practices by online payday lenders, and most recently she is focused on issues relating to the lending and debt collection practices of online payday lenders affiliated with native american tribes. prior to joining the f.t.c. in 2003, lashawn was a litigation associate with the washington, d.c. firm, reached her b.a. with honors from howard university, graduated from the university berkeley

bernie madoff is a whole different thing. this is not about -- that was a whole different issue. and people are upset about that, and they still are. you're hearing this now in 2013. we're a little bit late. fourthly, a bank bailout is going to be hated no matter what. if the government does everything perfectly including explain it perfectly, which is my next point, it's still going to be hated. but to my mind there are degrees of hatred, right? this could be a 10, an 8, a 6, and so the next point, if the government had explained better what it was doing and why, this includes the obama administration, i think the american people still would have been upset by the bank bailout. but as i said, there were degrees. and i think they could have a more accurate perception of what really happened than they do such as, proximate, the t.a.r.p. that i mentioned -- for example, the t.a.r.p. that i mentioned before. sixth, as those of you who have been paying attention -- now you do have to have been paying attention -- there was quite a backlash against the federal reserve, as if it came o

those pale in comparison to profits madoff the ar-15, the bush masters, so this is a different business model that existed in the gun industry and the nra as we have shown in reports released from our office is making millions of dollars from the gun manufacturers in a way they didn't decades ago. they're tied together here. >> and we saw progress recently in colorado where it is at least as difficult to legislate in this area as it is in washington. they're on the way to limiting magazine capacities to 15. is that the kind of thing gives you hope for what's possible in washington? >> absolutely. i mean, the american public has decided where they are on this. you're talking about 90% of americans that want universal background checks. 80% of gun owners. majority of americans want to see these assault weapons off the streets. i mean, shame on congress if we can't find a way to get to where 80 to 90% of the american public is. i still think we get it done and colorado's action certainly hopefully give courage to legislators on legislators on t here. >> connecticut senator chris murphy get

he's considered a good politician which is like saying bernie madoff was a good salesman. >> mr. axelrod, she also said the president is an expensive waste of time, appearing in his own reality television show. is this what psychiatrists call projection? >> well, she also said he should walk away from his teleprompter and she read the line from a teleprompter. the whole thing was sort of surreal, but i think the important thing to note is how well she was received here in what is sort of the citadel of the grassroots of the republican party. and that sends a strong message to chairman priebus and others trying to heal the wounds of the party that they've got a lot of work to do. when she ridicules background checks for guns, she's taking on an issue 92% of americans support and she got a big hand for it in that room. that tells you the gulf that exists for the republican party. the problem they have to solve, how do you nominate a candidate who can be elected in this country? if that's the position they're going to take, then they're going to have a hard time doing that. >> this

is now probing jpmorgan's action in the madoff ponzi scheme. the banks really must have known.nuing am looking into more closely into jpmorgan in particular. back to you. cheryl: new capital restrictions are going into place and cyprus. there will be no check cashing, limits on with drop. ashley webster is here to tell us how everything got to this point. >> this did not happen overnight. the writing was on the wall. in the end, it was closer to 75%. that decision cost banks more than 4 billion euros. this is for a companies whose gdp is just about 18 billion euros. march 16, sex birth they will be hit with a 10% tax. as protesters hit the streets, the banks had closed. three days later, march 19, the parliament actually rejects the idea of a bank tax. two days after that on march 21, the ecb stops. unless the bank taxes put in place back on the table, that emergency bailout will be cut off during the week. the bank tax back on the table. lawmakers trying to reach some sort of agreement. they stick with a 10% tax on wealthy depositors. the protests continue. march 24, they take

now, he is considered a good politician, which is like saying bernie madoff was a good salesman.difference being the president using our money. >> joining me now, from washington, ed o'keefe of the "washington post" and at cpac, national harbor, maryland, msnbc's dave weigle who, of course, also writes for the slate. dave, i'm going to start with you, i have been enjoying your blog, blogging from cpac, how did sarah palin's speech go over there? >> it went over very well. this is a crowd that always adored her. always identified with what they feel was an unfair and cruel treatment from the media. you saw that when ted cruz, who was seen as the republican party future thought it necessary to come out and take a little bit of the glory from sarah palin's reputation. it was also a little bit contradictory though, because one of the themes from speeches earlier in the day or the week has been republicans need to stop being the stupid party. palin's big moment, everyone agreed and pulled out their phone to capture was drinking from big gulp. people like her for things like that but i