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

my name is madoff.life. >> speak out about crime, guilt, suicide... >> mr. madoff, what do you have to say for yourself? >> and the day bernie admitted to committing the largest financial fraud in history. >> and he said, "i have a confession to make. i've been running a ponzi scheme." [ticking] >> do you think you could

en recently andrew madoff, right? the son of bernie madoff? >> yes.ust this morning i obtained a copy of t it is public record. it is a fascinating document. >> is there anything in there that the indicate will was -- >> it was produced by one of the best probate firms in the world. the will itself doesn't give much financial data, but the probate papers indicate that he had an estate of $16 million. so the question is, where did all those funds come from. and i'll leave that for the lawyers to defend. >> let's move on to another sum , $35 million. that was the value of the estate for the late -- >> lady diana. >> well, when she died, she was no longer a royal, so she left her estate to her tucsons which were royals. because she was not a royal, cher estate was taxed under british law at 40%. so although she got some of hat money from charles a. -- from charles, it was taxed at 40%. it was surprising to me that here weren't more charitable contributions in her will. >> what about marilyn monroe? >> when she died she was loyal to her acting teacher. sh

bernie madoff was a ponzi scheme. but the more you learnt your coverage, the more gaps you might find. like how you thought you were covered for this. [boy] check it out,mom! [prof. burke]when you're really only covered for this. or how you figured you were covered for this. when you're actually paying for this. you might be surprised at what's hiding in your coverage. talk to farmers and get smarter about your insurance. ♪ we are farmers bum-pa-dum, bum-bum-bum-bum ♪ [announcer] call 1-800-farmers and see how much you could save. many americans who have prescriptions fail to stay on them. that's why we created programs which encourage people to take their medications regularly. so join us as we raise a glass to everyone who remembered today. bottoms up, america. see you tomorrow. same time. another innovation from cvs health. because health is everything. first impressions are important. you've got to make every second count. banking designed for the way you live your life. so you can welcome your family home... for

i'm not even talking about the madoff scandal. many people knew those returns were too outrageous to be real, including people who whistle blew to the fcc to no avail. were all of these little busts part of fcc capital? how do you protect yourself from this? first, there will always be fraudulence and if you're lucky and you're able to avoid it, great. but you never know when it will strike. i can't protect you from an economic class. the great credit crunch, even diversification which we call the only free lunch on wall street cause you to lose less. the consolation is maybe the great destruction of wealth. nothing can protect you if you own stocks. i can offer you simple rules tonight that will let you have more confidence in the stock market even if you think portions of it are rigged or beyond your comprehension. know what you own. i know it seems simple, but how does this protect you from the way that machines can abuse you, if you know what stock you own, you will be able to take advantage of that. the mechanical lunacy and

component but the other piece of it is like she can't actually punch out rush limbaugh and bernie madofft she is the muscle feels both to me like a particular thing that that's doing to the president as well as like an elevation of like the black woman ass almost too much. she and oscar de la renta also did not get along. >> that was also consistent. hillary rodham clinton was also the muscle in the white house. she didn't bare her arms. separately as a fashion issue, i think all women that i've dealt with and spoken to have an insecurity about their arms. it's a really delicate issue that women face. i don't know where it stems from. but it's consistent. so it's kind of interesting that michelle doesn't have that issue. she's an outly loutlier. >> sarah palin, we're talking about first ladies. she was running for the vice presidency and doing so in high heels and pencil skirts and there was a lot of critique that she had spent too much money on her fashion. sort of the nancy reagan point. what were her other choices? >> she also was constructed. she clearly was plucked out of nowhere. >

he's madoff now with thousands of dollars. >>> and, search is underway for a robbery suspect who punched his victim in the face in south philadelphia. police say the suspect attacked a 47 year old victim, that bigler at darian, tried to take his bag. this all happened on september 15th, the victim was able to fight off the suspect if you recognize the suspect you are urged to call police immediately. >> president obama once again intervening to after area septa regional rail strike. the president has created a second emergency board to mediate the labor dispute between septa and locomotive engineers. the president's order requirings septa to continue operating as usual, for 120 days from the effective date of the new panel, which is monday, that's when the term of the first panel expires. >>> the fight to keep the bankrupt trump taj mahal casino from closing is heating up. management and union work remembers locked in a battle over employee benefits. "eyewitness news", new jersey reporter, cleve bryan, has the details from atlantic city. >> we need our benefits, everyone out there should

he's madoff so far with thousands of dollars. >>> two men on camera are caught stealing bicycles in philadelphiaw under arrest, and facing charges, police say robert, and john, stole four bicycles at a garage on 18th street in rittenhouse square last weekends. the suspect arrested while trying to steel two more bike sickels at 33rd and market. was also charged with stealing a 600-dollar mountain bike at 32nd and chestnut on wednesday. >>> the search is underway for a robbery suspect who punched his victim in the face in south philadelphia. police say the suspect attacked a 47 year old victim at bigler and darian, and tried to take his bag, and this all happened on september 15th. the victim was able to fight off the suspect, if you recognize that suspect, you're being urged to contact police right away. >>> and, president owe bamm a.m. is once again intervening to avert a septa regional rail strike. the president has created a second emergency board to mediate the labor dispute between septa and locomotive engineers. president's order requires septa to continue operating as usual for 120 days fr

the family called me, i should really invest with this guy madoff.ng -- and this is my question for the reporters. i have always tried hard to stay away for the fear that it would affect my love. i used the press pass a couple of times. i have always felt acutely uncomfortable in the locker rooms. and i love watching you guys play. i don't want to see the need not shows. so i always try to maintain that distance. you guys have kept the love the game. >> next subject, the cheating. hacks of cheating are secretive, covert acts that strike and seek to undermine the basic foundation of any contest and destroy faith in the game's integrity and fairness. it another perspective on cheating. he said, i believe in rules because if there were not in the rules how could you break them? and so the question, how does cheating affect your engagement with baseball? >> well, there are two kinds of cheating, the cheating, performance enhancing drugs is intolerable because it changes the playing field and requires people to either put their health or careers at risk a

and you know, fact of the matter is and i'm not talking about the ponzi schemes, the madoffs of this world. bad judgment, incompetent, negligence, greed, these might all be socially unacceptable. lead to a lot of personal embarrassment and potential financial ruin but they're not criminal offenses. and you know, the fact of the matter is we have laws on the books for a reason and when you go to court, you have to demonstrate that the law has been broken and the criminal code has been broken. where that has happened in the rare instances most people have gone to jail but simply taking people to jail for messing up in their jobs, you'd be locking a lot of people up in corporations and outside. >> let's move on from that. let's talk about the present and the future. we had dodd-frank pass this 2,000 page bill that is complicated. one of the seminal questions about dodd-frank, does it take too big to fail off the table? does it provide for a way to wiped down a failing institution without excessively rewarding shareholders without having to to go through everything we went through in 200

people marriages and jobs and relationships and sometimes landing them in prison -- hello bernie madoff-- that's where it becomes something that damages the person and the culture around them. >> i am glad that you once again went to sex because -- people without pants on seems to be a theme in your book. both of you guys actually write some fascinating thing about sex, and both of you -- i just -- as a male, i'm very shallow. christian pointed that out to me in his book. and jeffrey, some things you talk about sex about how sticky and full of germs and it goes against everything my instinct usually tells me. don't touch those things, but in section i do. so, i would love to get your -- what you both think in this culture where narcissism is on the rice and social media is rampant and is the new reality, how is that changing sex? >> you first. raft. >> well, okay, cupid is doing well. >> it's all the same to me at this point. >> i don't know if it's really changing it. so many of the things that are funny or laughable about how people act on ok cupid, whether it's guys exaggerating that