we're not talking about bernie madoff. allen stanford, a globe-trotting multi-billionaire from texas, was accused of bilking investors out of $7 billion. his scam gets overshadowed by mr. madoff's but five years later, stanford's victims have fared considerably worse. >> hello, i'm allen stanford. >> reporter: allen stanford exude the american dream. sell-mail billionaire from rural texas who became a royal knight in the caribbean nation of antigua and an international booster of cricket. >> the mastermind and thunder of the whole project, sir allen stanford. >> reporter: investors, many retired oil workers respect ate it up. 28,000 people, 10 times the number of investors in madoff, bought certificates of deposit from stanford's antiguan bank, assured by his u.s. sales force that the cds were every bit as safe as hose in the u.s. angela and her family lost monthlies. like other victims she feels abandoned by the government. >> i do have to say that stanford victim dozen feel like the stepchildren in the ponzi world. >> re

madoff pull off a long-running ponzi scheme. annette bongiorno told a jury she never knowingly committed fraud. she also spoke in high regard of madoff, admitting she had called him her "hero" for helping her family. madoff is currently serving a 150-year prison term. the trial continues this week. power couple george lucas and mellody hobson are sharing their wealth. lucas the creator of star wars and investment executive hobson are donating $25 million to the chicago lab schools for the construction of an arts building. it will be named the gordon parks arts hall in honor of parks who was the first african american to direct a major hollywood film. george lucas sold his film company to the walt disney company for $4 billion in 2012. disney is attempting to encourage fans to download digital copies of its movies through itunes. the release is timed as disney's mega hit "frozen" gets ready for its digital debut march 18th. films may be watched on computers or apple devices. disney says its working to expand the service to other

new revelations about just how much jp morgan knew about bernie madoff's crimes. jp morgan shareholders that are seeking damages from the bank, claim to have evidence that jp morgan had - quote - "direct knowledge" of madoff's ponzi scheme. acording to a complaint filed wednesday, some of the evidence comes from jailhouse interviews with madoff. in january jp morgan agreed to pay $2.6 billion to settle claims around its role in madoff's fraud, but did not admit guilt. the country's first bitcoin atm is open for business. the atm that lets users transfer the virtual currency from atm to smartphone, opened for the first time yesterday, in a bar in austin, texas. meantime... two of bitcoins biggest backers are launching their own index for the currency. the winklevoss twins -- known for their battle over facebook -- have unveiled the "wink-dex." the index is designed to reflect the true price of bitcoins to investors, by collecting data from existing exchanges. a new fad is happening in the restaurant industry.. jackie keenan reports on the juicing trend. it's anothe

>> stahl: ...bernie madoff's wife?>> stahl: did that help you? did it? >> blanchett: it did. i think that what i really got from them, that madoff interview, was the sense of shame. and i found that very useful. >> stahl: one critic called it "the most complicated and demanding performance of her movie career." >> blanchett: you know, someday, when you come into great wealth, you must remember to be generous. >> stahl: but for blanchett, woody allen's notoriously minimal direction was unnerving. you really love to talk things out. and as i understand it, that's not his style. >> blanchett: ( laughs ) no. he's monosyllabic at best. i don't know how to do this thing unless it's in conversation with somebody else. i can't... monologue is... terrifies me. ( laughs ) >> stahl: but that's what you got. >> blanchett: first day, he said, "it's awful. you're awful." >> stahl: to you? >> blanchett: yeah. >> stahl: he said "awful"? >> blanchett: "it's awful." >> stahl: but he didn't say what to do? he just said, "it's awful"? >>

blue jasmine, bernie madoff. cheryl: gravity would be my choice for best pictuue.ght as well say it now. >> leonardo dicaprio will get something. cheryl: he was overlooked. >> he is so talented. adam: i like when they play the music and cut them off. >> are they playing music right now? >> not wolf of wall street, with gravity, the director could go to gravity. absolutely, gravity has a lot of different nomination's going on. so sternly. cheryl: great acceptance speech. she wants to saying the channel. the latest blast of winter weather, the trading pits of the cme, we will take you out there coming up next. adam: of 15-year-old fetterman on why he ditched finance to cater to the vip set with his incredible many desserts. stick around. cheryl: natural gas on track to insist more -- four straight days, fox business contributor phil flynn is in the trading pits of the cme. natural gas is pouring back after the biggest sell-off in 17 years. how weather-related are we talking here? >> big part of it and a big part of it is where we end up in the year end storage. we ha

there was a banker who jumped to his death, worked at bear stearns, in march 2008, and then you had madoffer, there were people who committed suicide, a couple people -- his son eventually did, but just in that period right there, there were two people who, i believe, committed suicide related to madoff, and it might have been -- it wasn't as -- i know off the top of my head during the financial crisis of a series of almost a year of liz: yes. and by the way -- >> this is five in six weeks. liz: in 2009, the lows of theet. we've come up off the floor here. >> this is seven deaths, six suspected suicide, in about eight weeks. that is, that is just, it's bizarre. now, it could be the randomness, you know, who knows? people commit suicide for a lot of reasons, could be unrelated to everything i said, obviously. but it is odd that -- the message boards, usually the message boards, now it's twitter, twitter feeds are going pretty wild on the conspiracy theories. let's just look at the globe, and you can see the locations of these. it's understand blg if they didn't know each other, but three jp

. >>> bernard madoff's former secretary may take the stand in her own defense later today.no and four other employees for their role in the ponzi scheme. they were fictitious accounts were made with her help, a supervisor in madoff's private investment business. >>> carbon monoxide has claimed one life over the weekend and sickened dozens of people in two states. 21 people were overcome by fumes in a hotel in maine and had to be hospitalized. carbon monoxide readings were ten times higher than normal. the hotel was evacuated and shut down pending further investigation and repairs. >>> it was more tragic in suburban new york where a carbon monoxide leak killed a restaurant manager. nearly 30 others got sick, including emergency crews trying to help. abc's mara schiavocampo has details. >> reporter: responding to a 911 call of a woman fainting saturday evening, first responders immediately suspected a carbon monoxide leak. police and ambulance workers becoming ill themselves when they entered the legal seafoods restaurant in this upscale shopping mall on long island. >> they

as has the madoff had been mounted member states have to translate that into their nest nano and i think that our member states of me ep mandy's legislation. we stand to make a difference. but that optimism could be short lived if the predicted sides of the right in the upcoming european elections actually plays out. the threats that any peace i can t v is well aware of this can get updates on my nation and everything that comes to that a vehicle in a nation and that trafficking is not something the right to bring his team to pick up on. and at the dentist rice meets top bid by xstrata extra boats to control the seat instead of trying to deal with the protocol suite useful for tea in the world. and that approach towards the great migration know will have serious blowback as explained by the giddy from the nco platform for its national corporation on undocumented migrants also known as pickup below we see happening on the transit city that the security of credits migration this approach of criminalizing migrants means that many can you put in situations of extreme collection. the fear of

smart except after the collapse of enron they also were supposed to stop financial frauds like bernie madoff others. government is a hammer and government is force. when you have a hammer, everything looks like this. but there is a better way and they private sector way. the power of reputation. i won't go to a movie anymore without checking iran's maeda's website. when i travel i look at what other people say about the hotels. a test is more than a certificate of approval from the department of business regulation. jason lewis agrees and alan colmes says this as well. >> look at all the trees that died without. [laughter] >> stop financial fraud. >> dodd-frank quantify the loss that we codify the laws that we have in place them and put them on steroids including bailouts come in telling lenders that if you redline or discriminate the doj is going to sue you. if you make loans to low-income people than you are predatory lending. >> they had no choice and now they are selling them under dodd-frank. if you do we will have an orderly liquidation. note that is code for in dodd-frank is a bailout

investors are telling us it's a pyramid scheme kind of like serious investors were telling us that bernie madoff company was also a pyramid scheme or a ponzi scheme totally different right. why is the government in no rush to look into these things could perhaps have to do with their preoccupation with peeping up asset prices i'm just saying serious people are making serious allegations and it's time to seriously investigate well there you have it. all the way. let's start right here in america with the latest economic and financial news now the federal reserve wants to start tapering its asset purchase program in december it started already rather in december and this is even before the new fed chair janet yellen had a chance to get in her seat yeah true story about mercy today they're now in the wake of the fed's tapering yields in the u.s. have gone down not up and one would have expected them to do the opposite thing an emerging market crisis is being talked about everywhere and everyone is talking about it so the question is what is going on here our next guest jerrold a celeb day there is

discourse with fraudulent stocks and bills which is also a fraud look people knew for years that bernie madoff was committing a fraud but they still bet jamie diamond and j.p. morgan the memos said this guy's a fraud but we need the business it's like the old woody allen joke you know the guy goes the doctor says doctor my brother thinks he's a chicken the doctor says here give these pills and he says no no we need the eggs it's the same thing with fraud in america. if they took the fraud away they'd all start. well you know they all are kind of starving because here we get to the next headline how central banks cause income inequality so we know everybody's talking in fact barack obama in his state of the union address talked about inequality is rising rising rising now if you look at the charts of course since nine hundred seventy one since we went off the gold standard of course and since we all accepted this rigged game we're all sitting in the audience cheering for financialization which is actually just the house is always winning the guys behind the scenes know who's going to win know w

irregularities a person specifically about internet company with all the games now of no after the bernie madoff scandal the f.c.c. eliminated completely got rid of an accounting fraud task force to pursue made off like investment advisors and market manipulators and that's just just what the charges against steve cohen seem to be about so i started by asking her what she thinks about the susan force meant of accounting fraud. for the made off scandal the f.c.c. they apparently eliminated in accounting fraud task force to pursue made off like investment advisors and market manipulators as well now that's what the charges against steve cohen today seem to be about but what do you think about this as the season foresman of accounting fraud in the in the first place. well again one sarbanes oxley was passed in two thousand and two there was this sort of warm and fuzzy feeling that we would have no more corporate fraud everyone was too afraid to see opposing c.e.o.'s were too afraid because they had to sign on the dotted line for their internal controls. that auditors were now i notice that had sort

collapse of enron, a law called sarbanes-oxley was supposed to stop financial fraud, but it did not stop madoff for credit bubble, we get more rule, government is a hammer, when you have the hammer. everyone looks like a nail. there is a better way, i won't go to a 5 an movie any more before going to the rotten tomatoes web site, what i travel, i go to web sites too see what other tourists said about the hotel. libertarian radio host, jason lewis agree, and liberal radio hostal ape -- >> look at all of the trees that died for that prop. >> there are always crooks. if we didn't have collapse in 2008 maybe we would not need fur legislation. >> dodd-frank codified the law we had i place, including steroid, and bailout, if you make loans to low income people, you are predatorial ending, they had no choice, now the government tells them under dodd-frank, you do we what we say, we'll have an orderly liq liidoing, code word for bailout. >> republicans and conservatives and libertarians, less government, less rulation, then government collapsed, and dodd-frank corrects them. >> wait, it was lack of reg

. >> is it true that you watched the 60 minutes moreley safer interview of ruth madoff? have felt a little better. >> did that help you? >> i think what i really got from that madoff interview was the sense of shame and i found that very useful. >> one critic called it the most complicated and demanding performance of her movie career. >> you know, some day, you have to remember to be generous. >> but for blanchett, woody allen's notoriously minimal direction was unnerving. >> you really love to talk things out. as i understand it, that's not his style. >> no. i don't know how to do these things unless it's in conversation with somebody else. i can't -- monologue is terrifying to me. >> he said it's awful. got. you're awful. >> to you? >> yes. >> he said it's awful? >> awful. >> but didn't tell you what to do? it's awful? >> it was so awful. obviously, it got a bit better. >> she's also up for an oscar role, that cate blanchett. you really got to see another side of her. >> she plays so many great parts but always seems to disappear >>> darlene love top of the charts whi

we're not talking about bernie madoff.s billionaire allen stanford of running a $7 billion ponzi scheme but today from prison stanford still insists he's innocent. our senior correspondent scott cohn is here to bring us up to date. scott? >> hi, sara, he does get overshadowed by madoff but he was way more colorful and he also hurt a lot more people, 28,000 people, ten times the number of direct investors with madoff. remember he cast himself as a globe-trotting billionaire offering safe investments and suggesting as he did to me five years ago that maybe he had special connections? were you helpful to the authorities in the u.s.? >> you're talking about the cia? >> well, you tell me. >> i'm not going to talk about that. >> why not? >> i'm just not going to talk about that. >> today allen stanford is in a high-security prison about 40 miles from orlando, florida, serving 110 years. he is appealing his conviction but with his assets frozen and having fired about the last of a dozen attorneys he's representing himself filing

including $13 billion in fraudulent mortgage securities, $2.6 billion for failing to report bernie madoff'sjpmorgan thought so. two weeks ago, the bank approved a 74% pay raise for the man who oversaw all this illegal activity, the ceo. his annual salary is now $20 million. the audacity of this decision has pushed the financial times and forbes to call it undeserved. >> you might think presiding over activities that resulted in $17 billion in payouts for illegal conduct would hurt your case for a fat pay bump, but according to "the new york times," members of the jpmorgan board of directors thought jamie diamond earned the raise. is it so bad that we're making it more likely for big banks to break the law? >> jamie diamond got a $9 million raise for presiding over an institution that was breaking the law. 90% of americans haven't had a raise for over 30 years and he'll have an annual salary of $20 million when half the jobs in this country pay less than $33,000 a year. when minimum wage workers ever so slightly above the federal poverty level can't get a raise from congress. his company inc

all you have to do is give him a lot of money -- maybe bernie madoff in later years. you wouldn't have to worry about that. this would be a professional board that would have a fiduciary responsibility. as i said, lower costs, about 50%. in other words, mr. president, what this means is if you were 35 years old now and working and you figured under your 401(k) that you would need $2 million by the time you retired in order to live out your life and have a decent retirement income, if you were involved in this program, you would only need $1 million because the costs would be that much less. a big portion of that $2 million goes into fees during the life of that 401(k). that's the big savings here. u.s.a. retirement, that's for the person. now let's take a look at what it means for the business, the business community itself. right here. this is the benefits to the business. it's easy to offer. you don't have to set up a plan. small mom and pop business, if you're filling out fica taxes anyway, you just have to separate line for this. set it off; you have nothing else

>> if i could change things. >> what i got from the madoff interview was a sense of shame. >> listen.ra. >> it came on the radio while i was cleaning. it was like girl if you don't get up out of here and go back to doing what you do and never look back -- ♪ i'm on top of the world i'm on top of the world ♪ >> all that -- >> the pope is unflappable. get it? get it? >> yes, yes. i get it. i got it. ♪ he's a rebel and he'll never, ever be any good he's a rebel because he never, ever does what he should ♪ >> oh, i want you to know stuff i don't. i want you to be kind. i want you to be smart. super smart. i want one thing in a doctor. to speak my language. i don't want you to look at the chart before you say hi...david. quiero que me hagas sentir segura. i want you to be awesome. that's the doctor i want. at kaiser permanente we want you to choose the doctor that's right for you. find your perfect match at kp.org and thrive. (singing opera) that's right, you can't beat a free colonoscopy. enter the cbs cares colonoscopy sweepstakes. you can be our numero uno. (opera continues) >>> your rea

the collapse in enron a law called cher bane was supposed to stop but it didn't stop persbernie f madoff. >> you get more rules. government is a hammer government is force. when you have the hammer everything looks like a nail. but there is a better way a private sector way to protect consumers without force. the power of reputation. i will go to a movie any more, i won't go without checking the rotten tomatoes web site. when i travel i always look at what other tourists wrote about hotels i might stay at. i trust this more than any certificate of approval from department of business regulation. libertarian radio host, liberal host says... >> look at all of the trees that died for that, huh? >> stop financial fraud not just the beginning. >> if we hadn't had the collapse in 2008 maybe we wouldn't need to have furl thurr legislation. >> they put them on steroids including bailouts telling lenders if you red line or discriminate, your predatorial ending. they have no choice. you keep doing what we say at had you had or anyplace else if you do we will have an orderly liquidation. there is a

nobody wants to be a bernie madoff of course but part of a democracy is taking advantage of the lawsut doing it in a legal way. some people don't have the means to do that. they figure other people can do it because they have the wealth. well, we'll try to do it in our own way. we're not going to cheat too much now. we're not going to lie too much but we'll take a little something if you don't mind. gerri: sometimes it's a case are you pushing the envelope or stepped over the line? >> all the energy we spend to fudge a little bit if we will, if we spent some of that energy in looking up the tax laws, looking up best people to work with, we can find deductions actually legal, may be outrageous to some but are legal. that is where the effort needs to be. stay within the law. do your fair share. support our great country. gerri: to your support about the irs and how we think about them, record low score, 39%, irs balances service and enforcement. most folks say they're not getting the mix right. jeff gardere, thanks for coming on. >> thank you. gerri: we want to know what you think. her

she and four others claim they were duped by madoff and had no idea he was defrauding clients. >>> aish woman considered to be the oldest holocaust survivor has died. she was freed in 1945. a trained pianist heard she had a long and accomplished career. a documentary about her life is nominated at this year's academy awards. >>> in missouri an epic 66-round, 5-hour spelling bee called off because organizers ran out of words. after 19 rounds, just 2 out of 25 con tes tans were left. an 11-year-old and 13-year-old, 47 rounds later, they were both still spelling. they were both still spell iing. the con it's apparently will pick up next month. the winner will head to the national spelling bee in washington and this is going to be one to watch. >> what do they do? >> they ran out of words. >> use your words. >> don't have anymore. >> they have the list of words they are able to use. >> so there's a defined list. >> oh, okay. >> you can't say, here is dictionary. >> i do the thing -- >> there had to be an au in there. >> did your producer spell it in your ear. >> no. >> cheater. >> he has

they make bernie madoff look like a nun. can we do to lower the cost of living for the people who need a boost? says no politician today. public service no longer applies the image of a bev nevada lent ally. rather a new class that work only for the next re-election. send me an e-mail. and finally, look i'm a big fan as anybody else of groupon. the coupon clipping. i like saving money. a recent promotion had me chuckling. groupon is offering $10 discount on purchases over $40 to celebrate president's day. specifically they are celebrating the man whose picture appears on the $10 billion. alexander hamilton who they describe in a press release, as quote, undeniably one of the greatest president. kind of like ben franklin or john hancock. they were never president. hamilton had a stellar career anyway as a found father of our nation. he penned george washington's economic policy but never served as president. it was being funny they said. don't rely on social media for an education. that's my two cents more. and that's it for

morgan with a nearly $2 billion penalty for turning a blind eye to the -- madoff scheme. on the short list to replace eric holder. he is also going after the man who made "2016 obama's america." he alleged they violated the campaign laws by giving $20,000 to a failed senate campaign. berrara said it was uncovered in a routine review. the critics highly doubt the with money stuck out and said it was politically motivated. d'souza says the president is vindictive. >> he treats his critics as enemies. by the way, he said in his books that you should treat your opponents not as well-meaning people who disagree with you but as bad guys. >> if he is convicted on both counts, megyn, he is facing seven years in prison and a one million dollar fine. >> all right, trace, thank you. >>> joining me now, judge napolitano who is a fox senior news contributor, judge, there is only so much he can say, but when you have "the new york times" saying this is a relatively small financial amount. the question is why this guy, why this politician? >> well, these are questions the government is

people were involved with bernie madoff around the same time.w -- sandra: it is bonus time. >> that is the theories out there. whether it's a conspiracy theory or not, a lot of this is happening in europe. a lot of these folks are affected directly by very stiff financial regulations over there where bonuses are being slashed. so there's talk about that. so i'm just saying that i don't know the reason and sometimes you just report the facts. i am sell -- telling you i have not seen something like this and you if you can find -- ashley: have they had any statements from the banks? >> they're acknowledging that it happened but not drawing any conclusion. this hasn't happened like this in a long time since the financial crisis. maybe it is luck of the draw in a sense that, it happened in this six-week span since january and we're not going to see it again for another three years but i am telling you, unless i'm missing something, and i generally don't miss stuff on this, this is, there is a weird pattern here and maybe it is related to all that stu

so i think bernie madoff is the saeng exception and not the rule. so the incomes in the middle start growing and focusing on the people at the top i don't think is the right way to do that. >> speaking of the economy growing, the congressional budget office which seems to be working out a much more incentive model, labor incentives, in the last week or two they put out a couple of studies, number one, the minimum wage, going to lose up to a million jobs. number two, they're looking at obamacare longer term. that thing may lose 2.5 million or the equivalent of hours work lost. if you were sitting at the council of economic advisers and you see cbo coming out saying these policies could lose 3.5 million jobs, wouldn't you want to change something? >> sure. the congressional budget office has done a great job recently. i'm a very big fan of doug elmendo elmendorf. i've known him since he was a student at harvard. a lot of these policies have much more adverse incentive effects than the obama administration is willing to admit. the minimum wage is not a

"mini-madoff." >> nicholas cosmo was arraigned today on mail-fraud charges. >> narrator: he promises real-estate opportunities. his victims are cops and teachers, hairdressers and builders. >> we had confidence in him, and we were convinced that this was legitimate. >> so, i invested my ira. $130,000 -- my entire life savings. >> you're making money. you become complacent. you become comfortable. and that's when you get hurt. >> narrator: nicholas cosmo brings white-colla

could send the stock -- >> i just want to say from a sentiment standpoint, we are now five years from madoffal crisis, and now you have a film that glorifies wall street corruption, greed and theft up for best picture and leading man up for best actor, and that's really surprising how quickly the pendulum has shifted to the point where we are willing to celebrate these guys. if they win it will just be an amazing turn-around. two years ago you couldn't get arrested if you were saying anything fun or kind-hearted or light-hearted about wall street at all. >> we will end on that. final trades for the month up next. (vo) you are a business pro. seeker of the sublime. you can separate runway ridiculousness... from fashion that flies off the shelves. and you...rent from national. because only national lets you choose any car in the aisle... and go. and only national is ranked highest in car rental customer satisfaction by j.d. power. (natalie) ooooh, i like your style. (vo) so do we, business pro. so do we. go national. go like a pro. ...return on investment wall isn't a street... isn't the only