a trustee for madoff's victims accuses jp morgan chase of turning a blind eye to signs madoff was a fraud. "people are going after banks right now because they have a history of looking the other way. there's another case recently filed and pending in florida involving scott rothstien, who conducted one of these ponzi schemes, and his banks were successfully sued." that was attorney hugh totten of valorem law group. jp morgan served as madoff's main bank for two decades. bank officials contend there was no evidence of a scheme. the european parliament has voted in favor of reforms to its banking sector. this week members of the e.u. appoved changes, including a controversial bonus cap designed to discourage risk- taking for short-term gain. the new limits will reign in banker bonuses, capping them to one year's salary or double that if a majority of a bank's shareholders give their approval. banks will also now be expected to build up an appropriate amount of capital to avert future taxpayer bailouts. sac capital agrees to pay a record fine to settle an insider trading probe. the $616- mi

the madoff ponzi scheme cost investors $17 billion dollars. there will be no golden parachute to rescue former jc penney ceo ron johnson. johnson, who came from apple, was dismissed this week from jcp due to poor performance. johnson had a deal with penney to be paid mostly in stock when he became ceo in 2011. he owns 900,000 shares of penney stock.. but it only has value if penney stock climbs above $29 dollars. the stock closed last at $14. hedge fund manager bill ackman who has a major stake in jcp gave the stock a bit of a lift yesterday when he told reporters he's standing by the retailer. investors rolled out the welcome mat for taylor morrison this week. shares of the homebuilder opened up 6.1% yesterday, from its ipo price of 22 dollars and closed at $23.04. the return of the housing market has sparked an interest in home building stocks. also new to the market this week, shuttle tank operator knot offshore partners. that stock rallied nearly 4% on its opening day. chimerix, kye-mare-ix ipo-s today. the company is developing a drug for

bernie madoff. the documentary is up next.e would need something the minute i trashed it. >> and that was a clip from a highly anticipated documentary on bernie madoff entitled "in god we trust" set tod debut friday night. it's the story of his long time personal secretary. the film was directed by victor and derrick anderson who join us this morning at post 9. good morning. >> good morning. >> we're talking about a story covered from top to bottom for years. how did that happen? >> well, we met the secretary a few months after bernie's arrest actually and she's been on this quest for justice ever since. she sort of unearths the real truth behind the headline of what really happened. >> the real truth being? >> being -- do we have 90 minutes? >> and there was just a lot more to the fraud than was reported. i mean there was a lot of money laundering. a lot of window dressing for much bigger crime. >> what sort of emotion do you come out of the film with for him and for him? >> for her, you're inspired. this is a woman with humb

i don't think he -- did bernie madoff apologize? i can't remember.is not in the bernie madoff category. i'm being kind of more hyperbole. you apologize after three years of doing it? doesn't make any sense. this guy he is a senior auditor. you would think he has, --. lori: a clue? >> mba maybe, i don't know, accounting degree where he knows if you're a certified public accountant there are obviously certain rules of the road which he violated, and clearly violated. now you're apologizing? sounds stupid to me. melissa: there you go. lori: agreed. charlie, thank you, sir. melissa: we have breaking news right now. wal-mart vice president jerry murray leaving the company. this is according to bloom berg. the former vp of finance and logistics after he wrote an internal e-mail back in february that said wal-mart sales for the month to date, quote, a total disaster. a wal-mart spokesman said murray's departure was quote, his decision. you can see the stock there, trading down. >>> all right, as we do every 15 minutes let's check the markets. gray wolf exec

bernie madoff's victims won't be able to sue the organization that should have stopped him in the first place. we are talking about the regulatory body the fcc. elizabeth is here to explain. those suing not happy about this. >> federal appeals court is not happy. they cannot hold the fcc responsible for failing to expose the ponzi scheme. they received complooifrnts years this went on for 16 years. fcc employees were disorganized sdmunt kate with one another they allowed credible complaints to go relatively unchecked. the fcc's actions along with the regretable interaction are shielded by rules protecting government employees. madoff pleaded guilty back in 2009 currently serving 150 years in prison. >> shielding government employees i think we all understand that one but government agencies that's a different things especially regulatory bodies. >> the attempt to go after the fcc failed by a second court. >> give us good nis we are expecting lower gas prices in the summer. >> summer driving season peek driving sean prices are going down this year. get ready for a road trip. how low it g

the goods 2 billion settl settl, is this not why the madoffs of the world of emboldened? the guys like bernie madoff, they are too intimidated to go after them, they operate with impunity, at least people in the organizations, worse case, you lose your job, but you don't go to jail? >> i disagree, not a matter of intimidation, we talk about a cost of doing business, the criminal justice system, and keep in mind, you have criminal justice system here and parallel sec proceedings that are civil not criminal. they tend to go like this some judges are okay with this, they don't care about f amendment privilege, others say nope, you cannot do this i have won cases that i have lost, i have lost cases that i should have won, when you put your hands in the jurors, you don't know what they are doing, you hedge your bets, you resolve your case you move on. charles: you brought up sec, and you know it does civil side, we -- capital pay a big time fine, then later fbi arresttd one of the top guys in the firm. it made big time news. could we see the beginning of something different? m

bernie madoff took people's money and spent it on himself. invested all of it in real estate. >> schneider's real estate plan involved developing a entertainment center in a cleveland suburb. it was never built and only 10.5 million was ever recovered. >> they in my eyes were not victims. but they were lenders to me. i borrowed money from them. they may call themselves victims but i made them a lot of money. and they know that. i lived a very good lifestyle and i'm not ashamed to say it. i went on to create 15 corporations. i had apartment buildings, office buildings and restaurants, everything you could imagine you would want to have in your portfolio. >> schneidnooichneider choose t guilty rather than face a longer sentence if convicted at trial. >> i'm 71, with the possibility of getting 30 years or more, why would i do that? why would i do that? >> schneider received a three-year sentence and sent to state prison. she was returned to cuyahoga county when prosecutors in a rare circumstance successfully appealed the sentence for being too l

bernie madoff was a ponzi scheme. by the armful? by the barrelful? the carful?ow about...by the bowlful? campbell's soups give you nutrition, energy, and can help you keep a healthy weight. campbell's. it's amazing what soup can do. >>> 11 stories tall, occupying half a city block in downtown cleveland, the cuyahoga county correction center houses 2200 men and women that present a wide range of security issues. some like charles evans. >> the broom was on the floor. he fell on the floor. >> present more issues than most. >> person of interest i want to talk a little bit about, who's a familiar name to all of us is mr. charles evans. mr. evans was placed in lockup and did extensive lockup time for assault on officer may. he was released from lockup and went down to general population. a couple of days ago he got involved in a verbal altercation with an inmate that led to also some verbal confrontation with staff. he was placed down in lockup. he's saying once again he's in fear for his life. >> he's been all through this once before with him and placed him in pc.

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bernie madoff was a ponzi scheme. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. they have no idea what it was like before u-verse high speed internet. yeah, you couldn't just stream movies to a device like that. one time, i had to wait half a day to watch a movie. you watched movies?! i was lucky if i could watch a show. show?! man, i was happy to see a sneezing panda clip! trevor, have you eaten today? you sound a little grumpy. [ laughter ] [ male announcer ] connect all your wi-fi-enabled devices with u-verse high speed internet. rethink possible. >>> 11 stories tall, occupying half a city block in downtown cleveland, the cuyahoga county correction center houses 2200 men and women that present a wide range of securit

sounds like a lot, but investigators say investors lost nearly $18 billion in madoff's scam. the money still unaccounted for or hasn't been returned. bernie madoff, the mastermind behind that biggest ponzi scheme in history, is serving a 150-year sentence after pleading guilty in 2009. >>> all right, everyone complains about their taxes. think your taxes are too high? try going to denmark. the top income tax rate there is 60%, the highest in the world. this is according to the oecd. denmark, followed by sweden, belgium and the netherlands. down at 20 out of 34 countries ranked is the united states. >> wow. >> they come in with a top tax rate of 44%. that's in california. not only that, but we tax fewer people than other countries. our top tax of 44% kicks in only on incomes over $400,000, compared to denmark, where the 60% rate applies to people making about $55,000. >> expensive. >> hey, i'm not making a judgment call, just in honor of tax time, we're going to show you all those figures, so there you go. >> 25 minutes after the hour. >>> new rules in new jersey, thanks to th

this upholds a lower-court ruling rejecting a lawsuit brought on by madoff investors.llate court said the fcc's actions and regrettable and action were protected by a law that shields federal agencies from liability. reportedly looking to add an nba agent to his resonate. according to media outlets, jay-z has started the process of divesting its ownership. nba rules mandate individuals cannot be affiliated with a player representation company a fatal mistake with an nba team. we continue our "countdown to the closing bell" with liz claman. ♪ [laughter] liz: okay. we are ten points away from the highs of the session. 143 points. we can all do the math. 153 points to name every will break that, but we are already in record territory. stocks posting strong gains across the board. nicole petallides, you know, if you could see who is next to me, nicole, dying to get in on the conversation. listen to what she has to say about a pig farmer first. [laughter] >> reporter: all right. i like the code word. less talk about big,. feeling pretty good because we're taking a look. up

. >> nadel is charged with running what's been described as a mini-madoff scheme. >> narrator: in the, nadel disappears without a trace, leaving clients without their life savings. >> you just question, how are you gonna make it -- how are you gonna make it happen? [ sniffles ]

bernie madoff's son blaming his father's crimes for his cancer. lymphoma which was in remission for ten years. >>> and a huge car recall affecting toyota, honda, nissan and mazda. the companies say nearly 3.4 million cars may have air bags that don't inflate. oh, oh stand by for news from your car dealer. >> gretchen: our next guest is a form doctor who left his medical practice because he felt insurance companies made it impossible for him to care for his patients the way he wanted to. >> brian: now he says obamacare is only going to make matters worse when it comes to red tape and government regulations. now dr. ed mars is here. what way in which do you think obamacare will hurt the whole system? >> well, i think that it's complex and, of course, it attempts to address some serious issues which we do have, which include overall costs and so forth. but i'm a little bit reminded, you may remember the bill murray movie "caddy shack" where he had a degette mate problem with these gophers in his golf course, with you to use dynamite didn't seem to be

federal appiles court ruled defrauded investors can not hold the sec for failing to expose bernie madoff'szi scheme. the court said government employees are protected from lawsuits when they carry out a discretionary function or duty. >>> india's car sales fall for the first time in 10 years in 2012 as the industry struggles to cope with the sluggish economy. they dropped 32% cord to the society of automobile manufacturers. >>> nissan calls variety of vehicles for a variety of problems. the it affects chrysler 300 dodge challenger and sedans from the 2012 model years. >>> post office backs off the plan to suspend saturday delivery service. the agency want to begin the new schedule in office. >>> apple may start ipad 5 production in august. the new tablet may be lighter and thinner. that is today's speed read. [buzzer] ashley: right at edge. liz: very annoying to change chargers. ashley: we like to make money. wouldn't we love to invest like big-time investors? warren buffetts or john paulsons. now you might be able to with the tap of an app. i-bill area -- i-billionaire is a new happen tha

what i'm saying is you've got a lot of sophisticated people, you and i spoke about bernie madoff.s, for years. >> as a criminal-ite, i defer to first skated -- most people are guilty of one thing. they want to believe in hope. that's what the problem is. >> but it was almost the opposite case with mf global. hindsite is 20/20, where they're saying jon core syne was a gambler, making all these -- but in august, they sold bonds, and said investors said we will owned buy them as a key man clause. they would only buy this debt if he was going to stay in that -- now emerging, where this guy was in the driver's seat and he steered this company. >> listen, i don't know about jon corzine's guilt in this or not. i know they were in discussions, some people expressed surprise that there was a lawsuit at this juncture. but i will say this, sam,ening they have bang's executives, people are mad that nothing has been done. >> remember when we had the s & l crisis? >> i've studied it, yes. >> mrs. the keaton seven of today? >> nothing will be done? surely there's some appetite to have changes. >

appointed to the job after the sec did not catch bernie madoff, she took over. her tenure was marked by no executives, getting handcuffed ever and now, upon leaving, she joins the industry herself. soft landing. she told "the wall street journal" there should not be in quote revolving door concerns because quote, in my case, there is no revolving door. i won't ever be going back to government. right. government served its purpose in the case. setting you up for this wall street job. should also be noted that the person replacing her as the new top cop is arriving there from the financial sector. so this is how it works, right? i'm in charge of enforcing the laws that keep you in check. now, my job is to help you get around those. now, to help you enforce. now, to help you evade. money is what greases the wheels. good, bad or indifferent. when scott brown was in the united states senate, his top contributor was wall street. when he left the senate, we learned skent ed ed equently, his new job is working at the lobbying firm that represents goldman sachs. we learn

that year the magazine also received a new york press award for the 2009 reporting on bernie madoff. he joined "fortune" in 1985 as an intern and served as reporter and editor on stories about wall street, investing, information technology, and entertainment. he is a regular guest on msnbc's morning joe and cnbc's squawk box. from 2001-2006 he was business editor for cnn's american morning. join me in welcoming secretary hank paulson and mr. andy serwer. >> thank you. thank you very much, president knapp and to everyone here at george washington university. thank you to all the students and everyone else who has come here today. we are delighted to see you all. and also thank you, secretary paulson, for coming. and having this conversation with us. let's get right to it. the conversation today, of course, is about china and the united states relationship with china. as president knapp suggested, hank is uniquely qualified to discuss this given his role in government at goldman sachs and the nonprofit world. each one of those roles is salient in a unique way to what is going on in chi

. >> another $506 million has been returned to victims of bernard madoff's notorious ponzi scheme accordingctims' payouts so far to more than $5 billion. over four years since madoff's conviction, more than two-thirds of the billions stolen is still unaccounted for or hasn't been returned. the ponzi scheme was the largest ever. >>> college basketball player kevin ware is vowing to make a comeback after his shocking injury during an ncaa tournament game. we'll talk to an orthopedic surgeon about whether that's even possible. what's ahead for kevin wear. also, strong emotion in the staid rum on opening day for major league baseball. we'll tell you what happened. more than two years ago, the people of bp made a commitment to the gulf. and every day since, we've worked hard to keep it. today, the beaches and gulf are open for everyone to enjoy. we've shared what we've learned, so we can all produce energy more safely. bp's also committed to america. we support nearly two-hundred-fifty thousand jobs and invest more here than anywhere else. we're working to fuel america for generations to come. o

lehman brothers, madoff. >> that's a really nice way to put it.because i know a lot of bankruptcies take forever to work out. lehman on six years. mf global two years. how long do you wait in an investment before you say enough is enough. >> there's two strategies. if you want to get involved early on and restructure the company, that's one way to play it. another way to play it is more in a liquidation strategy like lehman brothers or mf global when you wait until you know about the process. then you play for cash. >> do you think the safer way is to do it while the cap is still in bankruptcy and wait for the whole process to end. tribune company just exited bankruptcy. a lot of investors are running into debt and expect it will get broken up. is that something post bankruptcy you would invest in. >> we like to be on the steering committee to be involved with the reorganization process. and you do that when a company comes out of bankruptcy is an on going entity. you wait until closer to the end and just get the cash like mf global customer claim

often gets very close to -- has been terribly successful for a variety of -- he did it for 9/11, madoff, the bp oil spill. he has a couple goals. one is transparency. he is out there talking to the community. those are going to start may 1st here. he is going to listen to the victims about what kind of harms they have both physical and mental. then he'll come up with essentially a template of claims form that gets distributed to anyone in the city or anyone else who may have been harmed and he essentially puts numbers behind them and then decides sort of what is the final number. we've got 20 million right now in the one boston fund. it is a very hard process but there are two points. one is closure of course. >> right. >> that people need to feel whole through money and that is important. but the other is that there is a goal to steer people away from the courtroom. that if you have hundreds of pieces of litigation going on it doesn't add closure and actually ends up pitting people against each other. >> let's talk about the investigation for one second. cnn broke the news about some o

it's unbelieve lment you can say madoff stinks, say everything terrible, and they should, a white collar criminal, but you can't say that the average rapest and murder is of that level. it's not really him, it's the parenting. the blaming of outside forces for human evil is a very deep part of leftism. the materialist view of life is part of secular left. i. leftism is by and far composed of religion. marx said obstacle is religion. try to be happy in the rlo that exists, and leftism says maybe utopia here, religion says ewe utopia is in the next life. those are part of the characteristics, and they are all developed in the book. >> dennis, the diddest for the next hour. if you want to call in, talk with him, numbers on the screen, 202-5 # 85-3885. 585-3886. mountains or here in the pacific time zone where we are located today, if you can't get through, but want to tweet us @booktv is the handle or facebook.com/booktv. you'll sigh right there, you can post a comment under his name. it's listed right there on the top of the page. >> the most obvious is racial minorities. if they rape, if

like bernie madoff and his ponzi scheme.ing the tour de france because he kept using performance-enhancing drugs. for a while, everyone was winning. but how does winning really feel when you know that it's been stolen? that it's a fraud? you have to keep it a secret. you can't share the truth of what you've done. it isolates you. and then it dominates you. in order to sustain the deceit, lying becomes the central part of your life. so before we rush to condemn those teachers in atlanta, maybe there's a lesson in this for all of us. that winning by cheating is actually the quickest route to losing. and we should learn it well

i often said if bernie madoff would have been a public company, the shorts would have been on to himtime ago. and i believe that. and that is a function short selling does provide for the marketplace because they are incentivized to look for companies that are playing games. >> look, we're going to talk much more about that after the break. in fact, we're going to go to trade school. it's the art of short selling, and our guest host is the professor. when we come back, jim chanos will tell us how he sniffed out the fraud at enron and what makes a good short. plus, portfolio manager bill nygren joins the halftime show to show how he puts his $12 billion in management to work when we come back. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >>> welcome back. next guest is a true value investor and named one of the best by morning star.

intervene after the attorney's office moved against merkin, accused of secretly steering money to madoffis still affecting how people shop. that's latest from the fox business network, giving you the power to prosper. ♪ >> price of gold is rebounding from a two-year low, and its biggest selloff in three decades. what's next for the precious metal? bringing in edward mere, senior correspondent at iatlfc stone. thank you for being here. >> thank you. a lot of people are saying you have goldman sachs saying gold is time to get out. some analysts say we'll see gold at $1200 an ounce. you disagree with them, why? >> well, i'm not sure i disagree with them. in our last report, we have been very cautious op gold, especially given that it's broken key support levels. it's trading between 15-25 to 1800 in the last 18 months, and everybody's been waiting for if -- for it to pick up steam and move ahead. it's not. able to do it. the bottom fell from the market in the mast few days issue and i think we'll head lower from here. >> yeah, i think there's a lot of people who agree with you. is one of th

. >> like the madoff guy. columbine, it was a legal purchase. newtown was a legal purchase. aurora was a legal purchase. granted, i get -- and lars, i don't disagree with you when it comes to this issue of, you know, the criminals when they get them and steal these guns and go out and gang bang each other. i'm all about -- i'm never going to be one of the liberal establishment if you will that says stop and frisk is a bad thing. i don't like racial profiling, but here's the deal. >> i love stop and frisk. effective -- it's a phenomenal thing. and how about using the social media. >> fine. >> these crazy gangs that kill each other, they advertise, they go online and talk about it. and i think that new york is so smart -- >> totally good with that. >> ray kelly, before him, bill brat and rudy juliet, terrific -- this is what you need. not unconstitutional legislation. >> but the whole argument -- that would presume that what we're doing is fighting against violence and crime and not against guns. and that hasn't been the campaign so far. if you got a campaign that was really a

simpson, bernie madoff. o.j.his wife but in the court of public opinion he was guilty, and eventually he did end up going to prison for a different much lesser offense and at the same time he is still in prison. a lot of that is the way he handled it, even when he was under arrest for that and saying this was my merchandise and no sense of responsibility and no sense of i did this and no sense of redemption in his mind, and as we have looked at a lot of these, the coverup is often the worst with with weiner, with john edwards, with bill clinton, with a lot of these people, the cover up, and with tiger woods it was how he dealt with the media. i mean, the offense, professional athlete, who stepped out on his wife and not such a big deal to be honest, but the way he handled it with the media was textbook bad pr. >> has social media kind of changed the game, howard? >> absolute. >> absolutely. we live in a transparent world, and we have to understand now that a couple things happen. number one, you're going to be ca

and i suspect if we were to ask bernie madoff did you set out to be known as the greatest cheat and liar of all time, was that what you set your heart on to do when you graduated from high school, did you hope that your name would become a biword for fraud, he probably would have said, no. the problem was he did not apply ethical discipline. he stated i made one decision once to hide a small loss, and decision after decision piled upon one another until all of these small decisions became a big one. the next thing i knew i'm being marched to prison in an orange jump suit, and my wife is wishing she never knew me. so i ask you, i encourage you as you think of how you lead, think of the small ethical decisions that you make every day. the next virtue that the marines told us to pursue intentionally was the virtue of excellence. and i think this picture here, dick and rick hoyt, exemplify that better than about anything else. when he was 37, dick hoyt -- the man pushing the wheelchair -- entered a five-mile race with his wheelchair-bound son rick. he was a former air force officer, flabby -

the sec showed losses are $20 billion, that is the same amount lost in the bernie madoff scam.nis: we are going to let you get away without explaining the utter contradiction between don't ever buy any giant stock and instead if you must, invest in mutual funds made up of hundreds of china stocks. have a good weekend. he was great. tracy: yes, very. decision day in the battle between macy's and jcpenney over martha stuart. and we are live outside the courthouse next. dennis: and, gold getting clobbered. officially maybe entering into a bear market. we are live at the cme with that. and as we do every day at this time, oil weig way down. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. tracy: let's take a look at your dow 30. morway more red than green. mcdonald's, don't know why we call

. >>> victims of bernie madoff's ponzi scheme are getting more money back, another $500 million according investor protector corporation. that brings the total returned so far to almost $5 pptd 5 billion. investors say -- $5.5 billion. investors say almost $17 billion was lost in the scam. >>> laws now making tanning beds for kids under 17 illegal according to reports. the governor has signed the bill into law noting the risks of skin cancer and the need to protect the safety of minors. the law also bans children under 14 from getting spray tans in the same tanning salons. >>> two comedians plus a lot of network drama equals one classic performance by jimmy fallon and jay leno. it sounds like the two are pretty tight as they swap "tonight show" rumors over a duet. let's listen. [ laughter ] >> hey, jay. >> hey, kid. how you holding up? >> okay, i guess. you? >> you know, i've been through this before, you know. got to admit, i get a little sick of all this. >> jay, can i ask you something? we're still friends, right? >> yeah. of course -- of course we're still friends. >> that's good. [ l

we don't want another enron or madoff situation.to take some time to work itself out. >> we're showing some of your metrics on the screen. $2 xwl in private placement, 1,500 transactions as a team. how big can you get how many funding targets can you possibly absorb and still do what you do well? >> we were actually just working on projections last week. we can comfortably fund up to 150 companies a year. so not in the thousands but certainly in the 100s. >> certainly anybody who's starting a business in this country is aware of this and i'm sure looking to you as a tool more and more often. tim, appreciate your time. >> thank you so much. >> tim sullivan, the ceo of microventures. >>> it's a wedding fit for knights of the roundtable. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with resp

you can say, madoff stinks.people can say everything terrible, and they should, about bernie madoff, white collar criminal but you can't say the average rapist and murderer is of that level. it's not really him. it's his parenting. it's poverty, and so on. so, the blaming of outside forces for human evil is a very deep part of leftism. the materialist view of life is part of secular leftism. in fact leftism is by and large opposed to a strong religiousity because marx said the obstacle to -- is religion. religion says try to be happy in the world that exists and leftey. says make utopia here. religion says utopia is in the next life. so those are part of the, whichics and they're all developed in the book. >> host: dennis prager is our gift. if you want to call him the numbers are on the screen. >> or go to our facebook page. you can post a comment on mr. prager's name. it's on the top of the page. >>> no, mr. prager, in "till the best hope" in the chapter, why left succeeds, or part of the book why the left suc

somebody who is depressed, somebody who just committed suicide, somebody who lost all their money with madoffou but at least you're saying, what are you feeling? >> some of the other things you say. >> not the cliche. you don't want to say, "god only gives you as much as you can handle" or you don't want to say "you don't deserve this," because who does? >> you say also how are you? you want company? you look great, oh my god, you don't want that. but some of things to say, i'm sorry this happened to you. tell me how i can help. that's a good one. >> that's it, two very good ones. another very simple one is, i can't imagine what it's like. because you really can't unless you've been there exactly. you don't know that kind of pain. you don't know what it feels like to have a drain coming out of your body. so for you to say oh, i know what you must be going through, you really don't, and don't equalize yourself with the patient. so i kind of have three basic rules in this book, and one is tell me what's helpful and what's not. you want an honest exchange. as soon as you can possibly start, say

magazine also received a global war and new york press club award for the 2009 reporting on bernie madoffhe joined "fortune" in 1985 as as an intern from colombia journalism school and served as reporter and editor on stories about wall street, investing, information technology, and entertainment. he is a regular guest on msnbc's "morning joe" and cnbc's "squawk box." from 2001 to fwix he was cnn's editor for "american morning." join me in welcoming secretary hank paulson and mr. andy serwer. [applause] >> thank you. thank you very much, president knapp, and thank you to everyone here at george washington university. thank you to all the students and everyone else who has come here today. we are delighted to see you all. and also thank you, secretary paulson, for coming. and having this conversation with us. let's get right to it. the conversation today, of course, is about china and the united states relationship with china. as president knapp suggested, hank is uniquely qualified to discuss this given his role in government at goldman sachs and the nonprofit world. each one of those rol

that's what we are madoff and if we remove that from the american people, which we are, then we will cease to strive for better and more. we have to instill confidence. that's the confidence you have to instill back into the american people. confidence is not arrogant. true confidence comes from having respect for the challenge because we have got a challenge. being ready for the task, having a solid plan and having the determination to preserve because it is difficult. we have to do that. there are many people that told me after the campaign this is not the end. it's just the end of the beginning. there is so much more to do. i want you to know i have confidence that we can fix the nation's problems. we can simplify the tax code. we can have a budget and keep the promises we made to the seniors, we can keep the promises we've made to our children. we can work hard and make sure that we sacrifice a little so that our children will have the opportunity to do amazing things every individual in the country should be able to walk confidently towards their goals. i have confidence in the

that year the magazine also received a new york press award for the 2009 reporting on bernie madoff.e joined "fortune" in 1985 as an intern and served as reporter and editor on stories about wall street, investing, information technology, and entertainment. he is a regular guest on msnbc's morning joe and cnbc's squawk box. from 2001-2006 he was business editor for cnn's american morning. join me in welcoming secretary hank paulson and mr. andy serwer. >> thank you. thank you very much, president knapp and to everyone here at george washington university. thank you to all the students and everyone else who has come here today. we are delighted to see you all. and also thank you, secretary paulson, for coming. and having this conversation with us. let's get right to it. the conversation today, of course, is about china and the united states relationship with china. as president knapp suggested, hank is uniquely qualified to discuss this given his role in government at goldman sachs and the nonprofit world. each one of those roles is salient in a unique way to what is going on in china

excellence and received a lobe award and new york press club award for the 2009 reporting on bernie madoff in 1985 as an intern from columbia gurnet -- journalism school and reported on wall street, information technology, and entertainment, a regular guest on msnbc's "morning joe," and "squawk box," and from 2001-2006, he was the business anchor for cnn's, american morning. please help me welcome hank and mr. andy. [applause] >> thank you, thank you very much, president knapp, and thank you to everyone here at george washington university. thank you to all the students and everyone else who came here today. we're delighted to see you all. also, thank you, secretary, for coming, and having this conversation with us. let's get right to it, and the conversation today, of course, is about china and the united states' relationship with china, and as president knapp suggested, hank is uniquely qualified to discuss this given his role with the goldman sachs and non-profit world, and each one of the roles is salient in a unique way to what's going on in china and the relationship, the u.s.-china