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if he was treating wilpon like the rest of them, wilpon would have to give back about $160 million, whichow much does he want back? >> he wants a billion dollars back, because what picard is saying is that wilpon is not like all the other investors who were essentially innocent victims. what picard is saying is that wilpon and company were complicit, that they knew or should have known that madoff was running a ponzi scheme. so they don't have to give back their profits. they have to give back their principal, which would be a catastrophe for them. >> principal, you mean the amount they actually invested. >> correct. >> now, let's drill down to the one factual question that picard would have to prove. >> right. >> how does he claim wilpon knew that bernie madoff was a ponzi schemer? >> he says he should have known. >> based on what? >> based on a variety of factors starting with the fact that madoff paid steady, very steady, suspiciously steady returns for year after year after year. 10% to 12%. >> my bank pays me steady returns on my saving account. >> this is more than that. it was like
if he was treating wilpon like the rest of them, wilpon would have to give back about $160 million, whichow much does he want back? >> he wants a billion dollars back, because what picard is saying is that wilpon is not like all the other investors who were essentially innocent victims. what picard is saying is that wilpon and company were complicit, that they knew or should have known that madoff was running a ponzi scheme. so they don't have to give back their profits. they have to give...
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May 28, 2011
05/11
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if he was treating wilpon like the rest of them, wilpon would have to give back about $160 million, which he could do. >> how much does he want back? >> he wants a billion dollars back, because what picard is saying is that wilpon is not like all the other investors who were essentially innocent victims. what picard is saying is that wilpon and company were complicit, that they knew or should have known that madoff was running a ponzi scheme. so they don't have to give back their profits. they have to give back their principal, which would be a catastrophe for them. >> principal, you mean the amount they actually invested. >> correct. >> now, let's drill down to the one factual question that picard would have to prove. >> right. >> how does he claim wilpon knew that bernie madoff was a ponzi schemer? >> he says he should have known. >> based on what? >> based on a variety of factors starting with the fact that madoff paid steady, very steady, suspiciously steady returns for year after year after year. 10% to 12%. >> my bank pays me steady returns on my saving account. >> this is more than
if he was treating wilpon like the rest of them, wilpon would have to give back about $160 million, which he could do. >> how much does he want back? >> he wants a billion dollars back, because what picard is saying is that wilpon is not like all the other investors who were essentially innocent victims. what picard is saying is that wilpon and company were complicit, that they knew or should have known that madoff was running a ponzi scheme. so they don't have to give back their...
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May 28, 2011
05/11
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if he was treating wilpon like the rest of them, wilpon would have to give back about $160 million, whichdoes he want back? >> he wants a billion dollars back, because what picard is saying is that wilpon is not like all the other investors who were essentially innocent victims. what picard is saying is that wilpon and company were complicit, that they knew or should have known that madoff was running a ponzi scheme. so they don't have to give back their profits. they have to give back their principal, which would be a catastrophe for them. >> principal, you mean the amount they actually invested. >> correct. >> now, let's drill down to the one factual question that picard would have to prove. >> right. >> how does he claim wilpon knew that bernie madoff was a ponzi schemer? >> he says he should have known. >> based on what? >> based on a variety of factors starting with the fact that madoff paid steady, very steady, suspiciously steady returns for year after year after year. 10% to 12%. >> my bank pays me steady returns on my saving account. >> this is more than that. it was like 10% to
if he was treating wilpon like the rest of them, wilpon would have to give back about $160 million, whichdoes he want back? >> he wants a billion dollars back, because what picard is saying is that wilpon is not like all the other investors who were essentially innocent victims. what picard is saying is that wilpon and company were complicit, that they knew or should have known that madoff was running a ponzi scheme. so they don't have to give back their profits. they have to give back...
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May 29, 2011
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the wilpons obviously deny that.ht it out in court otherwise the team is at stake. >> bob, as always. >> thanks a lot. >> when we return, preview of stories making news next week. but first -- >> this is a story sure to make you feel good. a restaurant owner in charlotte, north carolina giving all of his provits to programs that help the poor. we see how he is building up his community one meal at a time. >> in busy downtown charlotte, by lunch time, folks have built up an appetite so at the king's kitchen restaurant, that's when the real building begins. because chef jim noble's goal everyday is to help his diners help their community. >> i think everybody wants to help, they just don't know how. >> noble is one of the state's most renowned chefs and deeply religious so he opened the king's kitchen a year and a half ago as a nonprofit restaurant. the money made here goes to programs that feed the poor throughout the community. last year, $50,000. mindful of recessionary pit 235u8s, the chef started by raising donati
the wilpons obviously deny that.ht it out in court otherwise the team is at stake. >> bob, as always. >> thanks a lot. >> when we return, preview of stories making news next week. but first -- >> this is a story sure to make you feel good. a restaurant owner in charlotte, north carolina giving all of his provits to programs that help the poor. we see how he is building up his community one meal at a time. >> in busy downtown charlotte, by lunch time, folks have...