barclays bernie madoff barclays bernie madoff for years they knew that made up was a scam. as you see one and there are three occasions and said this is a scam they finally blew up and everyone lost their money there and then they won in the courts and maybe five cents on the dollar barclays early may go barclays bernie madoff well i just might add of course that eric schneiderman their attorney general in new york is alleging they've done this they haven't been tried he is going to try them. they may just plead guilty and pay a fine but it's still an allegation it's not a determined cause but let's go back to what the bank of international settlements is saying about what this euphoria and this level of deception that people are conned into despite the euphoria in financial markets and investment remains weak instead of adding to productive capacity large firms prefer to buy back shares or engage in mergers and acquisitions and despite lack luster long term growth prospects debt continues to rise so they say over and over that we cannot solve this debt crisis with more deb

this is to journalism what bernie madoff was to investing.adoff told his customers what he wanted to hear by the time he told the truth their money was gone. bill o'reilly interviewed kopple about his complaint. >> you think we have corrupted the saij cinctity of fair news coverage. >> i think it has made it difficult if not impossible for decent men and women on capitol hill to reach across the aisle and find compromise. >> some people may not think it is a bad thing. >> i don't think libertarians want them to be. >> we have differences. >> the problem is people think this create an echo chamber where you have lots of people reading the news they want to read. that is a problem. >> that is bernie madoff's point telling people what they want to hear. >> even in that you are getting good reporting. you can trust somebody like glen green wall who is an out-and-out libertarian makes his opinions known but his reporting won him a pulitzepulitzer. >> now we have a number of media outlets that have a point of view and that is great. some opinionate

and call it the gateway, one simple transgression can turn michael scott in to bernie madoff.of the day it is all about money. creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business. melissa: a jam packed day, holiday shortened week, nicole petallides at the stock exchange under house 17,000. while we sitting up

now new allegations for madoff trustee irving pick ard could ratchet up the pressure even more. this is the latest version of a lawsuit against the brothers, alleging they knew full well what their dad was up to. among the new allegations, he created fake at for himself to purchase high-prized real estate. the real statements showed returns that were obviously too good to be true. both sons received millions in payments allegedly disguised as loans from their parents, and perhaps most explosive, the sons obstructed an s.e.c. audit of the advisory business. that was in early 2005 with s.e.c. auditors on sight. in fact the complaint says family members and other employees were behind the scenes deleting e-mails. the sons have always claimed they knew nothing about the advisory business, but an e-mail from andrew to his brother in 2005. i spoke with dan who conferred with danny, the -- everything is in balance, so we don't have to worry. i love my job, i love my job, i love my job. oops, dad is calling again. but earlier he was singing a tune. >> what he did was awful, and affected

. >>> the madoff situation in this particular case, it has to do with andrew madoff. scott cohn has the story. you're getting more details, aren't we? >> yeah, bill bp. we told you about the allegations against andrew madoff from irving picard, the bankruptcy trustee. but among other things, andrew participated in destruction of e-mails ahead of an s.e.c. audit of the firm in 2005, suggesting that he knew what was going on. well, we now have word from andrew madoff's attorney, martin flumanbalm, who says the new allegations are unfounded. "as we've stated from outset, neither andrew nor mark," the deceased brother," knew or knowingly participated in their father's criminal conduct." they say it was neither of them who ended the fraud. mark madoff committed suicide in 2012. he had no comment on reports that a federal criminal investigation of andrew is picking up some steam. and we should add that andrew madoff's health is said to be precarious. he suffers from mantel cell lymphoma and underwent a stem cell transplant last year. surely the new allegations can't be much

barclays bernie madoff. on air and in the financial world. to see these developments i mean not stopping to see there is only taking no demand for credit not going to get any economic benefit in life there are and there are folks. hello there i'm marinating this is boom bust and these are some of the stories that we're tracking for you today. first up you can't hold a good city down or apparently a mediocre car manufacturer general motors had surprisingly robust sales in june despite record breaking recalls we look into how and why in today's headline story and professor darron us in mobile who is on the show as well darren is an expert in understanding how political and economic institutions can lead to economic success and we're getting his take on former treasury secretary the secretary timothy geithner's point of view you got it and in today's big deal edward harris and i are talking about the end will be i asked report and what it says about our current post prices monetary policy experiment it all star

part of the problem is making sure all of the claims against madoff are legitimate.s making sure parties that receive money deserved what they got. many investors pooled their money into feeder funds. this month the victim's fund trustee lost a legal bit to try to go after foreign feeder funds, and he is trying to figure out his next move. to five years on, some money has been recovered and people who invested have only gotten some of it back. that's our show for today. i'm ali velshi. thanks for joining us. ♪ ♪ >> announcer: this is al jazeera. ♪ hello and welcome to the news hour and jane in doha, hopes grow for an end to the blood shed in gaza as israel accepts the proposal for a cease fire. dozens killed in afghanistan following two bomb blasts and we are life in the capitol kabul. russia says nearly half a million people went across the border with ukraine as fighting began this year. >> i am

part of the problem is making sure all of the claims against madoff are legitimate.s making sure parties that receive money deserved what they got. many investors pooled their money into feeder funds. this month the victim's fund trustee lost a legal bit to try to go after foreign feeder funds, and he is trying to figure out his next move. to five years on, some money has been recovered and people who invested have only gotten some of it back. that's our show for today. i'm ali velshi. thanks for joining us. ♪ >>> hello, everybody, and welcome to al jazeera america. i'm david shuster in new york. john siegenthaler has the night off. just ahead, drone warfare, israel today intercepted and shot down an unmanned hamas aircraft, a new weapon on top of rocket attacks and israeli strikes, comes as diplomats push for a ceasefire. >>> and the teen activist heads to nigeria. >>> locker room investigation, the nfl

part of the problem is making sure all of the claims against madoff are legitimate.s making sure parties that receive money deserved what they got. many investors pooled their money into feeder funds. this month the victim's fund trustee lost a legal bit to try to go after foreign feeder funds, and he is trying to figure out his next move. to five years on, some money has been recovered and people who invested have only gotten some of it back. that's our show for today. i'm ali velshi. thanks for joining us. ♪ > pass >>> hopes for a ceasefire in gaza - israel's cabinet agrees to an egyptian peace proposal. >>> hello, i'm jane dutton with the world news from al jazeera. also on the programme - the libyan government says most of the planes at tripoli's airport, 90%, have been destroyed by fighting with rival militias. >>> half a million people have fled into russia from ukraine since fighting beg

bernie madoff was a ponzi scheme. he took people's money and he spent it on himself.nvested all of it in real estate. >> lead the way. >> yes. >> schneider's real estate plan involved developing a retail and entertainment center in a cleveland suburb. the center was never built, and only $10.5 million of the money snyder raised 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 three wineries, apartment buildings, office buildings, restaurants, everything you could imagine you would want to have in your portfolio. >> schneider choose to plead guilty to 11 felony charges 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 was sent to state prison. she was returned to

look, this is not a madoff situation in the sense that it's these big guys losing money.t. used it in our documentary. >> the other story, quickly -- >> you know what? >> to use the comparison -- >> right now through again. going to go through the ftc's economic analysis. i say it because i can't stress enough. until that analysis is reported this stock will do whatever the stock's going to do. >> do what it did maybe this week. shocking kind of everybody. herb, thanks. >>> all right. dunkin not impressing the street with its report. >> scott, dunkin' brands taking a dip. shares of the corr retailer down 5% on the day. reporting profits that matched wall street estimates. falling short, blaming bad weather for results. and hurt by competitive pressures by the likes of fast food companies offering their own coffee menu items. dunkin' cut its full year forecast as well. if you want to know more, tune in "closing bell" today. on later this afternoon, 3:00 p.m. eastern, to speak to his company's results, coffee, doughnut fan or not, interesting to hear his outlook for not jus

there and then they won in the courts and got maybe five cents on the dollar barclays barclays bernie madoff. ukraine's military resumes its operations in the east with attacks on several cities after the president refused to extend a ceasefire which expired overnight. about the spot an intense diplomatic effort by europe and russia vladimir putin has revealed that president poroshenko has accepted full responsibility for the bloodshed in the east. also courses off the western oil industry seek to cash in on the bloodshed in iraq as the u.n. reports almost two and a half thousand people were killed in june amid the advance of islamist terrorists . and also this hour black water immersed in recent iraq threaten to kill u.s. officials sent to.

. -- this guy, madoff. [laughter] the real question for reporters, i've always tried hard to stay away from the team for fear it would affect my love. the press passes used to get if you work for the newspaper. i've done it a couple of times and i've felt acutely uncomfortable in the locker room. i love watching these guys play. i don't want to see them need not chose. [laughter] i've always tried to maintain a distance, but you guys have kept the love of the game even while intimate with them. >> right, cheating. acts of cheating are secretive, covert acts that seek to undermine the basic foundation of any contest and your -- destroy faith in the game's integrity and fairness. another perspective on cheating. he said, i believe in rules, because if there were any rules, how could you break them? to the question. how does cheating affect your engagement with baseball? who wants to go first? >> there are two kinds of cheating. the cheating with performance enhancing drugs is intolerable because it changes th

some of the world's biggest banks on behalf of victims of the ponzy scheme orchestrated by bernie madoff and allen stanford. they ignored signs of the massive scam but the high court ruled that he lacked the legal standing to represent thousands of victims in those lawsuits. >>> still ahead, health care stocks had a good run in the first half. but will the rest of the year be a different story? that's coming up. >>> a big victory for federal and state regulators that accuse french back bmp of violating u.s. sanctions. the bank agreed to pay nearly $9 billion and plead guilty to criminal charges of conspiracy and falsifying business records after performing transactions with iran, cuba and sudan. >>> looking to turn around a troubled agency, president obama today nominated bob mcdonald, a west point graduate and former ceo of proctor & gamble to be the new veterans affairs secretary. certainly the job will not be easy for mcdonald. the department is plagued bypassive treatment delays, nd vept veterans hospitals forcing the last secretary to resign. this nomination, of course, must still b

barclays bernie madoff. suspect. it was like gold if you go did you know the price is the only industry specifically mention in the constitution and. that's because a free and open press is critical to our democracy shrek. will. never go on i'm sorry and on this show we reveal the picture of what's actually going on we go beyond identifying a problem to try rational debate and a real discussion critical issues facing america among them are ready to join the movement then welcome to the big city. though i'm tom arbonne in washington d.c. and here's what's coming up tonight the big picture. thanks to the doctrine of judicial review our democracy has become a constitutional monarchy the supreme court as chief sovereign so what can we do to restore the republic for and that would might happen tony in just a moment also pundits the mainstream media are saying that the hobby lobby ruling was limited but could it lead to an even more sweeping ruling on really religious liberty when they could legalize all kinds of

. >> bernie madoff is writing a book in jail.: i heard he was hot stuff in jail. >> did you? oh, my. charles: everyone wants bernie to tell them how to manage money. the laundry money, come on bernie are you kidding me? you serious? we're in this society. i think this is a fascinating story. this market has been really fascinating. up next. tomorrow morning what is happening? kate, you're in the hot seat. we never thought we'd be farming wind out here. it's not just building jobs here, it's helping our community. siemens location here has just received a major order of wind turbines. it puts a huge smile on my face. cause i'm like, 'this is what we do.' the fact that iowa is leading the way in wind energy, i'm so proud, like, it's just amazing. charles: all right, hot seat, pros have 15 seconds to tell you what is moving the market. kate. >> tomorrow i'm looking to after the close, tesla will report its earnings for second quarter, they are expected to either meet or beat particulars. -- expectations. they are looking for any men

well cases and the wonder, -- wonderful rogues that you, cross you begin to realize that , bernie madoff with just one in a long time line and it has been going on for hundreds of years. >> after 2008, nobody is going to jail. we had people go going to jail for insider trading although the most recent case came back. should there have been more people indicted? >> i think so personally. we know now with what attorney general holder has said that in fact the justice department took in economic factors and financial factors in deciding whether or not to prosecute individuals. they are on the record for saying that. that is a very, in my view, very questionable form of justice in this country that if you in fact work for a too big to fail institution that you can get away with all kinds of criminality that the average person cannot. i think still to this day most people in the united states -- it bothers them. an amount that people from boston to washington do not appreciate. >> people do not appreciate the fact that a lot of people across the country believe there was an unfairness about w

mark madoff commit today suicide in 2010. >>> well, the drought in california is leading to drastic measures. the state is considering fines for people who waste water on fountains and cars. they can't hose down sidewalks or driveways. melissa, is the law necessary? are people disregarding drought or wasting water? >> just to give you an idea. governor asked people to voluntarily cut backwater by 25%, and nothing happened. the survey said that people cut back by 5% overall. and it's time for the state to step in to a certain extent. over the past months, city and towns have decided to put out their own regulations for their areas, but then you create a patchwork in the state where some areas are conserving better than others and the state decided to step in. californians who want to wash down their driveways and walkways or wash their cars have to keep why not eye on how much water they use. they may be find for wasting water. while it's not an out right ban, they represent another step in statewide efforts to combat the drought. >> one of the interesting things about the droughts, you do no

why did madoff get caught, when you run out of people to fleece, you get caught. >> as we get closer to 2087. >> yes what is not going to be there for me, 54% of millennials think that social security will not be around, we're planning ahead, 75% are saveing at unprecedented levels, starting at age 22, it has never happened before. charles: why do they keep voting in the same people. >> that is a big picture question for me. charles: people need to understand, it started with bismarck. and he was trying to fend off socialism, he said i'm coming up with a way of like i'm playing ball, a system, 65 average age was like 59, no big deal. no one will collect it, fast ford to now we live to 85, 90 years old. >> we are working on 1995 numbers -- 1935 numbers. >> people are mad on-line. >> pay for whom, social security has not kept place with real inflation. johnny said, not enough come on, i have been paying in ther for 5 years, how much more do i need to put in to get my money back. charles: i hope you get money back, we have to make changes. matt, i know you like private accounts we'll pi

frameworks as well as the cases and the wonderful rogues that you come across, you begin to realize bernie madoff was just one in a long timeline and this has been going on for 500 years. >> rose: the frooct cry you would hear after 2008 is nobody has gone to jail. we had people going to jail for insider trading, although the most recent case came back with an acquittal. should there have been more people indicted? >> well, personally, i think so. but we know now with what lanny brewer justice and attorney general holder has said that in fact the justice department took in economic factors and financial factors in deciding whether or not to prosecute individuals. and they're on the record saying that. that's in my view a very questionable form of justice in this country that if you in fact work for a "too big to fail" institution that in fact you can get away with all kind of criminality that the average person couldn't. and i think it still to this day rankles most people in the united states to an amount i think that the sort of cortorfrom boston to washington doesn't appreciate. >> rose: in ot

when you are talking about bernard madoff or the galleon group. or you are talking about penn state. there were lots and lots of people at those places. >> terrorism. you believe and you would like to see, because this came up, shaikh mohammed and others, you terroriststo see prosecuted in district courts. >> is not my decision, but it will be shocking to people given that i'm the u.s. attorney in overseeing a group of civilian prosecutors who argue their cases in civilian court that i think that is a good form. as the attorney general has pointed out, the department and our office in particular has a great track record. year has're at the gone by where people are awaiting some kind of accountability and families are awaiting closure in another forum in guantanamo bay, terrorist after terrorist has been convicted in the courthouse in my district and in other districts. important for justice to happen in some reasonable time. there is no guarantee in every case, it is not a rich system. -- a rigged system. the track record shows we can do them pret

a judge has thrown out a suit that claimed that jpmorgan knew all about bernie madoff's undercover ponziwas alleged jamie dimon and 12 other executives turned a blind eye to the thievery. that is the latest from fox business network, giving you the power to prosper. . melissa: live like you're a 1950s housewife. that's the advice of mandy jones and her husband. they live like it's the 1950s and claims cooking, cleaning and sewing make her a better wife. she believes that all women should adopt the 50s lifestyle in order to save their marriages. now this sounds like a clear case for the princeton mom susan patten and charlie gasparino my personal hero. >> i want to know how you read that without laughing. >> i was snickering a little bit. i didn't want to lean any way in one direction. >> it's not so funny. what is so wrong about going back to a time when there were clear gender identifying roles that women were women and men were men. i love the idea. >> i want, for some reason, can't see my wife or tracy or even you, having your husband or significant others smoking jacket ready and mar

why don't we go to bernie madoff for stock tips?test foreign policy disaster that we've seen in the last 20 years. i wish he would just go away. off and it is amazing that anybody in the media would take him seriously. look, dick cheney wants a platform. that anybody in the media, or anybody pays attention to him is a joke. >> on the other hand, people say this is a man of certain accomplishments as the vice president of america. but on the other hand, leading us down such a path why doesn't he pay more in terms of his reputation? he is out there constantly haranging the president, but i don't think he paid in a fashion for what he did to the president. >> because bombing other countries means you never have to say your sorry? i remember people were drummed out of foreign policy circles for suggesting going to war in iraq was a bad idea. it is disgusting to me that dick cheney has not been drummed out of the circles with all of his ilk. >> how do we compare to dick chen cheney? is he the hench out there with what he believes -- >> i

. -- this guy, madoff. [laughter] the real question for reporters, i've always tried hard to stay away from the team for fear it would affect my love. the press passes used to get if you work for the newspaper. i've done it a couple of times and i've felt acutely uncomfortable in the locker room. i love watching these guys play. i don't want to see them need not chose. [laughter] i've always tried to maintain a distance, but you guys have kept the love of the game even while still implement with them. -- intimate with them. >> right, cheating. ask of cheating are secretive, covert acts that seek to undermine the basic foundation of any contest and your -- destroy faith in the game's integrity and fairness. we had a rusher had another perspective on cheating. he said, i believe in rules, because if there were any rules, how could you break them? to the question. how does cheating affect your engagement with baseball? who wants to go first? but there are two kinds of cheating. -- >> there are two kinds of che

why isn't it ever bernie madoff up on the roof screaming for help or the head of city bank or the hedgeldman sachs. >> i need you is t. sit here and say i'm in the 1%. because it's important. >> i can't because i'm not. >> you are there. >> no, i'm not. i'm not. >> you you are not in the 1%. >> of course i'm not. how can i be in the 1%. >> pause you make billions. >> 90% of the income i want to give you away. 9 5% of your wealth and then you will do that. >> i will work for any legislation that doubles my taxes and yours. >> we have a system that enriches the few at the expense of the many. , capitalism is an evil and you cannot regulate evil. >> capitalism is evil? really? film maker michael moore seeming to enjoy the capitalism allowed him to get very rich and allowing him to buy nine holmes. moore's divorce settlement exposing hypocrisy. co-host of the five and host of the red eye and host of the network. he is always on the air. >> that's true. >> greg, nice to he so you. michael moore, oh o, brother. what do you think? >> i hate to kick a man when he is down or round but is he $50

. >> he's not bernie madoff. i mean, let's be clear. he has done a lot of good.s helped thousands of schoolkids in pakistan and afghanistan. [speaking foreign language] >> he has become perhaps the world's most effective spokesperson for girls' education in developing countries, and he deserves credit for that. nevertheless, he is now threatening to bring it all down, to destroy all of it by this fraud and by these lies. >> after our story first aired, the montana attorney general investigated mortenson's charity, c.a.i., and issued a report in april of 2012. it confirmed our report that mortenson mismanaged the charity's money and used some of its funds for personal expenses. mortenson has resigned as executive director, and he'll reimburse c.a.i. for more than $1 million. as for the school at bozai gumbaz, it opened in 2011 for a summer session. [ticking] coming up, former tyco chief dennis kozlowski on making over $100 million a year. what's it like to earn that kind of money? >> it's a way of keeping score, i guess. >> that's ahead, when 60 minutes on cnbc re

i mean you're talking about the bernard madoff group or the hedge fund or are you talking about penn state. there are lots and lots of people at those places. >> rose: terrorism. you believe and you like to see because this came up and shaq mahmoud, you like to see them prosecuted. >> i am the u.s. attorney and overseeing a group of civilian prosecutors who argue their cases in civilian court that's a pretty good form. as the attorney general also pointed out the department and our office in particular has a great track record and while year after year has gone by where people are awaiting some kind of accountability and families are waiting some kind of closure in another form, in guantanamo bay, terrorists after terrorists has been convicted in the courthouse in my district and in other districts as well. it's important for justice not only to happen but for it to happen within some reasonable time. there's no guarantee in every case on a rigged system as we've been talking about for a bit. i think the track record shows that we can do them pretty well and you can do them in an ope

we would be now if somebody inside jpmorgan had just picked up the phone and said, this guy bernie madoffing around and we see some things here you all to look into. how do you change thatcultur how do you change the culture on wall street are inside a bank? that thatld hope example would resonate with everybody. look at what could have been saved. how much money could have been saved if somebody came forward earlier? how many people's life savings -- it would have been maybe half. >> where do you hope to have success? do you hope for individuals, whistleblowers see something and thesomething or do you want banks themselves to be more aggressive about self reporting? i think the answer to this question is we don't want to rely on too many whistleblowers. we really need to get the compliance with banks and they are starting to do a good job. we need to get the compliance ofartments built up as part their culture. you need to change the culture within the banking industry. it's good to find problems. it's not bad to find problems. find the problems because -- before they become big. get a c

well, the commission missed the madoff ponzi scheme. they signed the no-bid lease for almost a million square feet of office space that it didn't need. they produced inaccurate financial statements, they failed to conduct a really serious and thorough review of the agency's bureaucratic and siloed structure in order to become more efficient and more effective. and they wasted over $1 million on unnecessary equipment. and i might add they've had some of their rules thrown out in court due to the lack of economic analysis. that's just the name -- that's just to name a few of the embarrassing moments that the s.e.c. enforcement and management has endured. so this is not about a lack of funding. throwing more money at the s.e.c. is not the answer. we knead to show real progress before we give them new money. the bill has targeted extra money. information technology and economic analysis. over the past three years, this committee has supported the this funding. if we could upgrade the technology systems, they will be better able to leverage

bernie madoff on investor protection or bill clinton on sexual abstinence is not the subject that republicansant dick cheney to be talking about. >> that's what he was tag about. go ahead, joe. >> no. i was just going to say, mark halpern, though, we have seen rand paul take some incoming over the past several days and there is a feeling from people like myself and other on republicans, and we talked about it yesterday, when somebody suggested rand paul might win the republican nomination, we instinctively said, no, he won't. of course, the same thing i said about barack obama in 2007 when he was running against the clinton money machine before i saw how much money he could raise, so maybe it could happen. but actually this issue that dick cheney is talking about, despite the chaos of iraq, is not -- i don't think it's great for rand paul because more republicans are closer to dick cheney than rick perry's view of the world than they are rand paul's. >> look. i don't think it's improbable that rand paul could be the nom nen i think he is creating a debate within the party that is probably goo