picard filed a $6.4 billion suit against j.p. morgan chase, alleging bankers had concerns about madoff but did nothing. even picard's camp says madoff's story isn't true. they put out a statement today: >> he is at the inner circle of financial hell, and i think he wants other people surrounding him to share the guilt and culpability. he's a man who got to rationalize the suicide of his child. >> reporter: in the interview, madoff said he never asked to attend his son's funeral because it would have created a media circus. he also said no members of his family knew anything about his massive fraud. katie? >> couric: jim axelrod, thanks so much. meanwhile for a company in the book business, it's the saddest chapter of all: chapter 11. boarders filed today for bankruptcy. it will close 200 of its more than 600 stores, and 6,000 employees could lose their jobs. one reason for borders' troubles: it was slow to jump on the e-book wave. here's anthony mason. >> reporter: at printing presses like this one in pennsylvania, the e-book is

tom, as you know, citi's not the only big bank picard is targeting. he has also sued j.p. morgan chase and bank of america's merrill lynch unit. and both of those stocks were also down sharply today. >> there wasn't much that was not down sharply today. all of the 10 major s&p stock sectors were in negative territory by the closing bell. let's go ahead and get folks updated with tonight's "market focus." >> tom: stock investors were greeted with a stiff sell-off after the long president's day weekend. stock prices dropped, volatility jumped, and bond interest rates fell as prices rose. let's start with today's trading of the s&p 500. we spent the entire day in negative territory as stock prices continued falling through the afternoon. since december 1, the index has seen an almost uninterrupted bull run, representing a 14% jump before today's sell-off. today's drop in stocks brought with it a pop in fear. the chicago board options exchange volatility index measures market near-term expectations. a falling fear index corresponded to the stock rally. the jump today brings it

he had the homes and he had the life-style. >> let's not forget picard's had a lot of success.e's gone after $90 billion worth of claims. he's already recovered $10 billion. i think 7 was with one investor with this billionaire nobody knew about. >> charlie: what was the most you would want to know. >> what did he think would happen when he died. that's maybe a silly thought but i always think about that. when he died, i mean maybe he didn't care because ... >> charlie: he would be dead. >> he would be dead and seemingly didn't care much about his family and the pain he's caused everyone. but i guess it just got to a point where it was sort of the self sustaining thing and it got bigger and bigger. i can never get my arms around how he was able to perpetrate this for so long and not -- >> charlie: how did he believe it will go undiscovered? he answered that it didn't so therefore -- >> there were times when he thought he has been caught. >> a phone call away he said, right. >> charlie: if they looked closely -- >> where are the stocks. he says they're at this company. call they

madoff says in prison interviews he helped irvin picard the trustee appointed to help recover some $20 billion in profits for the scam's innocent vict victims. he said he gave piccard, quote, information i knew would be instrumental from recovering assets from those people come police in the the mess i put myself into. picard filed lawsuits on behalf of madoff victims seeking hundreds of millions in allegedly illicit profits from jpmorganchase and from the owners of the new york mets. both denied ever suspecting fraud. >> even if you don't know specifically, if there are signs and you ignored them you are held libel -- liable. >> reporter: the scheme victimized thousands of investors including mentors, friends and strangers hoping to recover something. even before his trial and before he went to prison he became a pariah. >> what's lost as we talk about hundreds of millions and billions of dollars are the smaller investors who had a fraction of that and now have nothing left. >> reporter: so far only madoff has gone to prison and only he has accounted and five of his employees have bee