| 00:00:44 |
Unidentified Speaker, -
DECORATED STOLE $55 BILLION FROM MANY INVESTORS ALL OVER AMERICA AND EUROPE SELL YOU ARE A CHARTERED FINANCIAL ALL ANALYSTS AS WELL AS A CERTIFIED FRAUD...
|
| 00:01:39 |
Unidentified Speaker, -
OF MINE THEN THEY FINANCIAL GENERAL TO THE TEAM AND WENT AFTER THE FRAUD 1/2 TO NO AVAIL. >> Host: WHEN DID YOU FIRST YEAR OF 30 MADOFF? I AND A STAND...
|
| 00:02:09 |
Unidentified Speaker, -
DESCRIPTION CONTAINED SUCH THAT HE WOULD HAVE TO BUY STOCKS THAT WENT UP OR STAYED THE SAME AND NEVER WENT DOWN. HOW LIKELY IS THAT? IN POSSIBLE. THE...
|
| 00:03:57 |
Unidentified Speaker, -
HE HAD PRIOR RECORD AND IN HUMAN HISTORY AND THEY WERE SO SUPERIOR FOR A LONG PERIOD OF TIME AND THEY COULDN'T BE REAL. >> Host: HOW MUCH MONEY DO YOU...
|
| 00:04:09 |
Unidentified Speaker, -
AT THAT TIME? HOW MUCH WAS THE RISK IN THIS BROAD? >> ROUGHLY 10 BILLION. >> Host: QUITE A BIT OF MONEY BUT CERTAINLY NOT THE $65 BILLION THAT WAS EVENTUALLY...
|
| 00:04:27 |
Unidentified Speaker, -
THEIR LAST MONTHLY STATEMENT SO THAT IS WHAT THE EFFECT WAS FOR THE VICTIMS. THAT IS WHAT THEY THOUGHT THEY HAD BUT THE DIDN'T OF COURSE BECAUSE THE
|
| 00:04:35 |
Unidentified Speaker, -
RETURNS WERE. >> Host: YOU TALKING YOUR BOOK, QUOTE KOHL NO ONE WOULD
|
| 00:04:42 |
Unidentified Speaker, -
LISTEN," HOW YOU JUST MENTIONED AS WELL THEY WERE PRESSURING YOU TO CREATE A PRODUCT LIKE THIS AND YOU COULD TAKE SOME OF THE PRETTY MAID OF BUSINESS,...
|
| 00:05:00 |
Unidentified Speaker, -
POSSIBLE. WHAT DID YOU DO NEXT? WHEN DID YOU DECIDE YOU HAD TO GO SOMEWHERE AND TELL SOMEONE ABOUT THIS? >> Guest: I HAD TO CHECK MY MATH AND HAD MY...
|
| 00:05:29 |
Unidentified Speaker, -
BIG FIRM, IT IS A MALLING FIRM AND I ASKED HIM TO CHECK AND HE SAID HARRY, THAT IS FRAUD. AND AT THAT POINT I KNEW I HAD TO DO SOMETHING SO I CALLED...
|
| 00:06:35 |
Unidentified Speaker, -
THE LARGEST SINGLE HEDGE FUND PUBLICATION IN THE INDUSTRY. >> Host: THAT IS THE TRADE BY A HEDGE FUND MANAGERS WHO DO BUSINESS WITH THEM. >> Guest: IT...
|
| 00:06:49 |
Unidentified Speaker, -
SUBSCRIPTION. HE JOINED THE TEAM AND DID AN INVESTIGATION AND MET WITH MADOFF IN APRIL 2001 AND WAS THAT PRINT THE FIRST WITH AN ARTICLE. >> Guest: >>...
|
| 00:07:01 |
Unidentified Speaker, -
REPRINTED IN HERE FOR THE FCC AND FOR
|
| 00:07:05 |
Unidentified Speaker, -
OTHER COMPLICATIONS. >> Guest: WE ALSO WENT TO FORBES MAGAZINE AND UNBEKNOWNST TO US THEY WENT SIX DAYS AFTER WE DID. THIS IS A FINANCE PUBLICATIONS...
|
| 00:07:20 |
Unidentified Speaker, -
BY MILLIONS. EVERY WEEKEND IT COMES OUT ON SATURDAY AND THAT WASN'T BY A GENTLEMAN SO THOSE TWO ARTICLES BACK-TO-BACK STATE FOR SEVEN
|
| 00:07:33 |
Unidentified Speaker, -
DAYS. >> Host: BACK IN 2001 SO THIS IS A FULL SEVEN YEARS BEFORE THE FRAUD WAS EXPOSED. >> Guest: WE SUBMITTED A SECOND CASE IN MARCH OF 2001 AND IT...
|
| 00:07:55 |
Unidentified Speaker, -
SO WE WENT TO TWO CONTINENTS, FORMED INTO CONTINENT IN EUROPE REPEATEDLY. I WENT ON ONE TRIP BY DESCRIBING
|
| 00:08:03 |
Unidentified Speaker, -
THE BOOK IN JUNE 2002 AND THAT IS HOW I KNEW IT WAS A PONZI. WHEN WE FIRST STARTED THE INVESTIGATION IT WAS 5050 IT COULD HAVE BEEN FRONT-RUNNING OR ...
|
| 00:09:03 |
Unidentified Speaker, -
GOING ON MADOFF'S WORLD WHERE YOU INVESTIGATE THIS FRAUD AND YOU SEE THE TEAMMATES SOMETHING ROTTEN HERE. WHAT DO THE INVESTORS SEE AS WELL AND THE...
|
| 00:10:13 |
Unidentified Speaker, -
CUSTOMER TO BUY THE SHARES OF EXXON AND HE WOULD MAKE HIS OWN TRADE FOR HIS OWN MONEY BASED ON THAT INFORMATION BEFORE THE REST OF THE MARKET COULD SEE...
|
| 00:10:31 |
Unidentified Speaker, -
BENEFIT. >> Guest: THEY THOUGHT HE WAS A CROOK STEALING FROM BROKERS' CLIENTS AND GIVING THE HEDGE FUNDS CLIENTS THE PRICE DIFFERENCE AND HE WAS STEALING...
|
| 00:10:52 |
Unidentified Speaker, -
KNOWLEDGEABLE AND THEY DIDN'T WANT TO KNOW. >> Host: WHO THEY WERE CONSTRUCTIVE THE CURRENT OR THEY THOUGHT THEY WERE BEING CONSTRUCTIVELY IGNORANT....
|
| 00:11:17 |
Unidentified Speaker, -
IF HE WERE PERPETRATING FRAUD THE FCC IS DESCRIBED AS FRONT-RUNNING THEY GET
|
| 00:11:24 |
Unidentified Speaker, -
THEIR MONEY BACK AND NOT BE CONSIDERED COMPLICITY BUT THERE IS NO WAY THE FCC WOULD LET HIM PERPETRATE
|
| 00:11:30 |
Unidentified Speaker, -
FRAUD TO OUTRIGHT STEAL THEIR MONEY THROUGH THIS PONZI SCHEME. TALK ABOUT THE FCC DID THIS MAKE INVESTORS LESS WILLING TO GO OUT AND DO THEIR OWN RESEARCH...
|
| 00:12:09 |
Unidentified Speaker, -
THEY WERE COMPETENT AND THEY WERE OUT THERE AND THEY WORK. IT'S NOTHING BUT A LAWYER IS TO BUILD UNDERSEA OF FINANCE. YOU COULD LIE TO THEIR FACE AND...
|
| 00:13:27 |
Unidentified Speaker, -
CHECKS MEETING WITH THE BACK OFFICE STAFF AND WE KNOW THEY DIDN'T DO THAT EITHER SO THEY DID NOTHING BUT LIE BECAUSE THEY DIDN'T WANT TO ASK QUESTIONS...
|
| 00:14:11 |
Unidentified Speaker, -
MORE DIFFICULT BECAUSE THEY HAD A LOT OF TIME TO DESTROY EVIDENCE AND CERTAINLY THE AUTHORITIES NEED TO PROVE THE CRIMINAL INTENT THAT THEY KNEW WHAT...
|
| 00:14:20 |
Unidentified Speaker, -
LIARS AND CHEATS. THEY DIDN'T DO THE DUE DILIGENCE THEY SAID THEY WERE DOING AND THAT IS FOR ONE OF THE CRIMINAL BAR. THAT REMAINS TO BE SEEN. I CAN...
|
| 00:15:03 |
Unidentified Speaker, -
KNOW THEY ARE MORE THAN LAWYERS, THEY WERE TREATS AND CRIMINALS AS WELL. >> Host: DID SOME FUND MANAGERS DO THEIR JOB? DID YOU HEAR
|
| 00:15:10 |
Unidentified Speaker, -
OF INSTANCES WHERE YOU HAVE SOMEONE COME AND SAY I WOULD LIKE TO PUT MORE MONEY BUT MADOFF AND CHECK THEM OUT AND SAY YOU DON'T WANT TO DO THAT? >> Guest:...
|
| 00:15:28 |
Unidentified Speaker, -
THEIR JOB. MABEY DeGETTE, 89% OF THEIR JOB. IN BRITAIN LESS THAN 10% SAID THEY DID A BETTER JOB OF DUE DILIGENCE IN THEIR INDUSTRY IN THE U.K. THAN...
|
| 00:15:40 |
Unidentified Speaker, -
RUBBLE OF, 29% OF THEIR FUNDS FELT IF THEY CAME TO MADOFF AND THE ITALIAN SAID EVEN HIGHER RATE OF FAILURE AND THE BRAZILIANS CERTAIN COUNTRIES HAVE...
|
| 00:16:29 |
Unidentified Speaker, -
FINANCIAL INSTITUTIONS. TO TALK ABOUT HOW SOME OF THE BIG BANKS MENTION GOLDMAN, YOU MENTION MORGAN STANLEY, YOU TALK ABOUT AN INDIVIDUAL AT CITIGROUP...
|
| 00:16:40 |
Unidentified Speaker, -
AND YOU SAY OF THE INSTITUTIONS IF THEY DO NOT HAVE FELT RIGHT PROVED THAT THIS WAS A
|
| 00:16:48 |
Unidentified Speaker, -
BAD DEAL, SOMETHING IS COMING ON, THE SUSPECTED THAT. DID THEY HAVE A RESPONSIBILITY TO SEE SOMETHING AND TO WHAT AND WHOM AND WHEN? THEN YOU ALSO...
|
| 00:17:28 |
Unidentified Speaker, -
BY USING THE GET INTO THAT? YOU THINK THEY HAD EXPERIENCES LIKE YOU HAD WHERE YOU WENT TO THE FCC, THEY DIDN'T UNDERSTAND YOU, THE FEW PEOPLE IF THEY...
|
| 00:17:48 |
Unidentified Speaker, -
HAD THAT EXPERIENCE AND SAID LOOK I DON'T GET THANKED FOR GOING OUT THERE AND STARTING SOME ONE ELSE WHEN GOING TO TURN A BLIND EYE TO THIS. >> Guest:...
|
| 00:18:19 |
Unidentified Speaker, -
WORRIES SOMEONE ELSE. THESE GUYS ARE HELPING PUTTING MONEY OFFSHORE. THEY DIDN'T WANT SCRUTINY OVER THE FUNDS. >> Guest: THE HEDGE FUNDS WANTED TO REMAIN...
|
| 00:18:35 |
Unidentified Speaker, -
THE TRANSPARENCY SO THAT IS AN INDUSTRY BECAUSE
|
| 00:18:38 |
Unidentified Speaker, -
OF ITS FAILINGS NOT SEEKING REGULATION SORT OF FELL OFF THE CLIFF AND NOW THEY HAVE TO REGAIN THE INVESTOR TRUST AGAIN AND THAT IS GOING TO BE DIFFICULT....
|
| 00:18:51 |
Unidentified Speaker, -
OF THESE LESSONS OVER THE PAST 25 YEARS AS YOU KNOW AT LEAST UP UNTIL 2007, 2008 FINANCIAL INDUSTRY GREW AND GREW AS A PERCENTAGE OF THE NATION'S OUTPUT...
|
| 00:19:08 |
Unidentified Speaker, -
2000'S OF FINANCIAL INSTITUTES, PROFESSIONAL SKATING GREAT DEAL OF MONEY COMPARED TO THE FCC ECONOMY AND THE REASON FOR THIS HAS ALWAYS BEEN THESE GUYS...
|
| 00:20:23 |
Unidentified Speaker, -
MODEL AND INSTRUMENT YOU HAVE NO BUSINESS INVESTING IN IT. THIS COMPLEXITY HAS DONE NOTHING TO HIDE FEES FROM WALL STREET AND WHAT I CALL IT YOUR FACE...
|
| 00:20:58 |
Unidentified Speaker, -
DIRECTS PEOPLE'S ATTENTION AWAY FROM FUNDAMENTALS AT SOME POINT YOU'RE LENDING PEOPLE MONEY TO CAN'T REPAY IT AND ALL THESE COMPLICATED PRODUCTS JUST...
|
| 00:21:28 |
Unidentified Speaker, -
SIMPLE COMPLICITY SO COUNTERPARTIES DON'T DISCOUNT A PARTY CREDIT RISKS THAT IS WHY YOU HAVE TO MUCH COMPLEXITY AND IT BECAME TOO BIG AND IT WAS ON...
|
| 00:22:21 |
Unidentified Speaker, -
SURE THE ORDERING THE CHECKS THEY SAY THEY ARE DOING, YOU CANNOT RELY JUST SOLELY UPON OTHERS. YOU HAVE TO TRUST AND VERIFY >> Host: WHAT POINT YOU...
|
| 00:22:52 |
Unidentified Speaker, -
COMPLICATED AND IT SELLS? WHY NOT JUST INVEST DIRECTLY IN THE FUND? >> Guest: I AGREE. WE HAD THE BALANCE IS THAT SHOULD HAVE FAILED. LOOK AT THEM...
|
| 00:23:17 |
Unidentified Speaker, -
THE TRADE THEY'RE FLEEING THE PERFORMANCE. E-VERIFIED WAS ACCURATE. HOW DID THAT WORK OUT? THEY NEVER TREATED SO THE FIELD, TOO THEN YOU HAVE THE FUND...
|
| 00:23:56 |
Unidentified Speaker, -
CHECKLIST. OKAY FROM B.C. AND XM PORTFOLIO AND SAY OKAY NOW SHOW ME THE WORKSHEETS OF THE
|
| 00:24:03 |
Unidentified Speaker, -
QUESTIONNAIRES YOU WENT TO THE DUE DILIGENCE. IF THEY CAN'T PRODUCE THE DOCUMENTS, THE WORKSHEETS, GUESS WHAT, THEY DIDN'T DO THEIR DUE DILIGENCE AND...
|
| 00:24:37 |
Unidentified Speaker, -
WORRY ABOUT HOW DO YOU JUST GET PEOPLE IN THE MIDDLE OF THE BUBBLE TO UNDERSTAND. YOU TALK ABOUT ONE INVESTOR WHO CAME TO YOU CONCERNED ABOUT HIS WIFE...
|
| 00:25:44 |
Unidentified Speaker, -
MONEY WITH JUST ONE MANAGER AND ONE STRATEGY AND THE PROPER ALLOCATION OF HEDGE FUNDS AS I'VE BEEN TAUGHT
|
| 00:25:50 |
Unidentified Speaker, -
IS BETWEEN ZERO, 25%. THE ULTRA WEALTHY, 25%. FOR THE AVERAGE PERSON ON THE STREET SAVING FOR RETIREMENT, PROBABLY ZERO AND SOME PEOPLE ARE IN BETWEEN....
|
| 00:26:33 |
Unidentified Speaker, -
MARKETS WORKING BELATEDLY AND CAN SOCIETY AFFORD TO WAIT THAT LONG FOR THE MARKETS TO WORK IF THAT IS THE CASE? WHAT IS THE CUT OFF? YOU CAN SAY IF...
|
| 00:27:30 |
Unidentified Speaker, -
THEY GET ARROGANT AND THE INCREASING RISKS IN THE FUTURE AND THE PROBLEMS IN THE FUTURE WILL BE BIGGER AND MAYBE WE ARE NOT ABLE TO SAVE THEM THE NEXT...
|
| 00:28:02 |
Unidentified Speaker, -
WHAT WAS YOUR SOLUTION WOULD YOU SUGGEST NOBODY GET THESE BAILOUTS AT ALL? >> Guest: NO BAIL OUT, 100% ACCOUNTABILITY. LET THE FIRMS GO DOWN. WE CAN NATIONALIZE...
|
| 00:28:29 |
Unidentified Speaker, -
RIGHT. AND WHEN WE COME BACK WE WILL ASK ABOUT THE FCC FAILURES AND WE CAN TALK ABOUT SOME OF YOUR SUGGESTIONS FOR HOW TO FIX THIS. >> Guest: THANK YOU....
|
| 00:28:49 |
Unidentified Speaker, -
AND NICOLE GELINAS IN A MOMENT. "AFTER
|
| 00:29:02 |
Unidentified Speaker, -
WORDS" WITH HARRY MARKOPOLOS AND NICOLE GELINAS CONTINUES ON C-SPAN2'S BOOK TV. >> Host: ARE BACKED WITH SPEED KENTUCKY THAT HIS NEW BOOK "NO ONE WOULD...
|
| 00:29:36 |
Unidentified Speaker, -
TWO FINANCIAL WALLS ONE BASED ON IT AND EVENTUALLY THE FINANCIAL SYSTEM AND THE ECONOMY TO ITS KNEES AND JUST LAST WEEK ALAN GREENSPAN CAME OUT WITH...
|
| 00:30:53 |
Unidentified Speaker, -
MATH, SO THEY SHOULD NOT HAVE THEIR JOB AND NEITHER SHOULD THE BANKING REGULATORS. NOT ONE OF THEM DID THEIR JOB. IF YOU MENTION AUCTION RATE SECURED,...
|
| 00:31:51 |
Unidentified Speaker, -
TITLE? >> Guest: THE LARGEST HEDGE FUND IS A FRAUD. MAYBE I WAS TOO SUBTLE? >> Host: MABEY AND YOU SAID THAT YOU SPECIFICALLY MODELED AFTER THE BIN LADEN...
|
| 00:32:12 |
Unidentified Speaker, -
SAY YOU THINK YOU HAVE A FRAUD, YOU'VE GOT DOCUMENTS, WHAT
|
| 00:32:15 |
Unidentified Speaker, -
WITH THE EXAMINER TO? >> Guest: AN EXAMINER WHAT QUESTION YOU, QUESTION OR DIG UP, LOOK AT THE DATA, QUESTION YOUR MODELING TECHNIQUES, BE VERY FAMILIAR...
|
| 00:32:38 |
Unidentified Speaker, -
OUT IF IT WAS A FRAUD OR NOT AND IMMEDIATELY START AN INVESTIGATION AND THEY WOULD KNOW WHAT TO LOOK FOR BECAUSE YOU'D BE GIVING THEM A ROAD MAP AND...
|
| 00:33:13 |
Unidentified Speaker, -
HAVE EXPERIENCED THE ARE PAID BETTER, SHOULD IT BE MORE LIKE THE FOREIGN SERVICE WHERE AFTER YOU HAVE DONE SOME TIME ON WALL STREET YOU KIND OF GET BACK...
|
| 00:34:07 |
Unidentified Speaker, -
DIFFERENT COMPUTER SYSTEMS, THESE POWERFUL FINANCIAL ARMS, A BROKER-DEALER ARM, ASSET MANAGEMENT ARM AND A HEDGE FUND TRADING ARM AND THEN OTHER ARMS...
|
| 00:35:57 |
Unidentified Speaker, -
BAD GUYS POCKETS AND THAT IS WHAT WE NEED TO DO IS SIT FOXES AFTER FOX'S BECAUSE RIGHT NOW YOU'RE SITTING CHICKENS AGAINST FOXES AND THE GOVERNMENT'S...
|
| 00:36:28 |
Unidentified Speaker, -
SELLERS LIKE DAVID BOREN WHO WROTE THE FOREWORD TO YOUR BOOK SAYING PUBLICLY SOMETHING IS WRONG HERE. YOU HAD A PUBLIC DEBATE ABOUT THIS AND MARKET...
|
| 00:37:34 |
Unidentified Speaker, -
THE GOVERNMENT DOES NOTHING ABOUT THAT IS WORTH PAYING FOR BECAUSE IT SAVES THE GOVERNMENT TONS OF MONEY AND RESOURCES THEY WOULD HAVE NEVER FIGURED OUT...
|
| 00:38:11 |
Unidentified Speaker, -
A BIG FIRM, A SMALL FIRM AND THEN THE CUSTOMERS ARE GETTING TO THE CONFERENCE AND MAY BE THROWING AWAY BUT AT LEAST THERE IS SOMETHING IF YOU ARE NOT...
|
| 00:38:53 |
Unidentified Speaker, -
THE MONEY SO OF COURSE HE WOULD GIVE HIMSELF HIGH MARKS WHEN HE WAS STEALING MONEY. >> Host: RIGHT. YOU MENTIONED THE LATE [INAUDIBLE] IN CHARGE OF...
|
| 00:39:20 |
Unidentified Speaker, -
EUROPEAN CUSTOMERS AND BOTH YOU AND YOUR COLLEAGUE IN THE BOOK DESCRIBES THESE CONVERSATIONS WHERE YOU SAID TO HIM MADOFF IS A FRAUD AND HE SAID THAT...
|
| 00:40:55 |
Unidentified Speaker, -
THEMSELVES AND I THINK IN THE INDUSTRY BAD MONEY DOES DRIVE OUT GOOD MONEY. FOR EXAMPLE I HAVE A BOOK ADVANCE FOR WRITING THIS BOOK. WE HAD A CHOICE...
|
| 00:41:57 |
Unidentified Speaker, -
ON MANY LEVELS. BORIS MADOFF IS A CPAC OR PSYCHOPATH? WE HAVEN'T REALLY GOTTEN INTO THE PERSONAL ELEMENT HERE. HE'S A PERSON IN ANALYZING THIS NEARLY...
|
| 00:42:58 |
Unidentified Speaker, -
THE BECAUSE HE WAS STEALING FROM SOME OF THE WRONG PEOPLE, THE MOST POWERFUL PEOPLE IN THE WORLD AND PEOPLE HAVE A LOT TO PROTECT IT WAS VERY DANGEROUS....
|
| 00:44:44 |
Unidentified Speaker, -
WITH YOU? >> Guest: NO. I HAVE NO INTEREST IN MEETING WITH HIM. HE DOES NOTHING BUT LIFE FOR HIS CAREER AS A LIE BUT I WANT TO SIT THERE AND LISTEN TO...
|
| 00:45:03 |
Unidentified Speaker, -
SITUATION.
|
| 00:45:05 |
Unidentified Speaker, -
UNFORTUNATELY THIS MAN IN THE COMMITTING SUBSIDE AFTER THIS WAS UNCOVERED IN THE EARLY 2009. WAS IT, OR WAS IT MADE 2008? >> Guest: HE COMMITTED TO...
|
| 00:45:21 |
Unidentified Speaker, -
THIS WAS UNCOVERED. >> Guest: AND THE MOST GRUESOME IMAGINABLE. HE WANTED TO LET HIS CLIENTS WITH A HEARTFELT APOLOGY HE WAS A MAN OF HONOR, NOBLEMAN...
|
| 00:45:36 |
Unidentified Speaker, -
VERY POSITIVE MANNER AND I THINK IT'S A
|
| 00:45:40 |
Unidentified Speaker, -
GRUESOME. I CERTAINLY DON'T CONDONE IT BUT I RESPECT
|
| 00:45:42 |
Unidentified Speaker, -
HIS DECISION. I RESPECT HIS DECISION THAN THE OTHER OPERATORS AROUND THE GLOBE AND ARE LOBBYING GLOW IN THE WEEDS TRYING TO AVOID THE CIVIL SUITS THAT...
|
| 00:46:15 |
Unidentified Speaker, -
TO GET THERE. HE WAS SO EXCLUSIVE HE WOULD TURN PEOPLE DOWN ON PURPOSE TO BUILD THAT ALLURE OF EXCLUSIVITY. IT FELT LIKE
|
| 00:46:22 |
Unidentified Speaker, -
DATING. YOU ALWAYS ON THE DATE WITH A GIRL THAT TURNS YOU DOWN. YOU WANT TO DATE HER THE MOST BECAUSE SHE TURNS YOU DOWN AND THAT IS THE WAY MADOFF...
|
| 00:47:52 |
Unidentified Speaker, -
PERSONAL LEVEL WHERE RIGHT NOW IF YOU WANT TO BUY STOCK THE REGULATION SAYS YOU'VE GOT TO PUT 50% DOWN IN CASH TO PROTECT YOU AND THE REST OF THE FINANCIAL...
|
| 00:48:54 |
Unidentified Speaker, -
IS OFF-BALANCE AND IT'S NOT REPORTED TO INVESTORS AND REGULATORS I WOULD PUT IN A MANDATORY THREE-YEAR SENTENCE TO THE CEO, CFO AND GENERAL COUNSEL,...
|
| 00:49:33 |
Unidentified Speaker, -
THEY ARE NOT EVEN BORN YET. I DON'T HAVE GRANDCHILDREN. WE WILL BE PAYING FOR THIS BECAUSE PEOPLE ARE HIDING STUFF OFF
|
| 00:49:42 |
Unidentified Speaker, -
BALANCE SHEET. >> Host: I AM SURE MANY OF MADOFF'S VICTIMS WHO WERE SUCCESSFUL IN BUSINESS ALTHOUGH USUALLY NOT IN FINANCE AS YOU MENTIONED THEY CONSIDER...
|
| 00:50:05 |
Unidentified Speaker, -
OF MORE THAN A MILLION DOLLARS, MAYBE 2 MILLION YOU ARE MAKING MORE THAN $200,000 A YEAR YOU ON YOUR OWN, THERE IS REALLY NO CONSUMER PROTECTION OR INVESTMENT...
|
| 00:50:50 |
Unidentified Speaker, -
OKAY FOR YOU TO GET WIPED OUT WE DON'T CARE. SOMEONE SHOULD CARE. THERE ARE PEOPLE AND THE FAMILIES AND PICKAXES, THEY DONATE TO CHARITY AND SERVING...
|
| 00:51:41 |
Unidentified Speaker, -
THE CORPORATIONS AND AS THE COUNTRY REPRESENT? IT SEEMS TO REPRESENT CORPORATIONS. >> Host: TAKE US TO THE LARGER LEVEL OF WHAT YOU TALKED ABOUT THE...
|
| 00:52:08 |
Unidentified Speaker, -
NOT SO YOU CAN HAVE FINANCIAL COMPANIES GO UNDER WITHOUT BANKRUPTING THE REST OF THE FINANCIAL SYSTEM. WHAT IS BERNIE MADOFF IN THIS WHOLE DEBACLE TEACHING...
|
| 00:52:44 |
Unidentified Speaker, -
WHY AIG WAS ALLOWED TO EXIST, FANNIE MAE AND FREDDIE MAC. THEY DON'T UNDERSTAND THE ABOUT AND WHY WE RESCUED THE BANKS AND THEY DON'T UNDERSTAND WHY...
|
| 00:52:57 |
Unidentified Speaker, -
THE LAST TEN YEARS. THEY WERE NOT
|
| 00:52:59 |
Unidentified Speaker, -
REAL EARNINGS. >> Guest: >> Host: THEY HAVE TO GIVE BACK THE MONEY THAT THEY MADE BY ABOUT THE BIG FINANCIAL INSTITUTIONS AS WELL? >> Guest: HOW FAIR...
|
| 00:53:29 |
Unidentified Speaker, -
REALISTIC ASSESSMENT FROM WHAT YOU HAVE SEEN IN THE CONGRESS AND THE PAST YEAR AND HAVE NOW COMING YEAR, YEAR AND A HALF SINCE YOUR EXPOSURE CAME TO...
|
| 00:53:44 |
Unidentified Speaker, -
RISK REGULATOR, CONSUMER FINANCIAL PROTECTION AGENCY DO YOU THINK THEY WILL GET THIS RIGHT? >> Guest: NO ONE HAS BEEN HELD ACCOUNTABLE IN WASHINGTON,...
|
| 00:54:10 |
Unidentified Speaker, -
PROTECT US TAXPAYERS AND RIGHT NOW NO ACCOUNTABILITY. ZERO. >> Host: YOU ARE SINKING EVEN THE PEOPLE THAT YOU MENTIONED AND A COUPLE OF OTHER ONES YOU...
|
| 00:54:35 |
Unidentified Speaker, -
THE PENALTY FOR US GOING UP MASSIVELY LIKE THE MADOFF CASE IF YOU MAKE MORE MONEY THAT IS WRONG. OR YOU GO TO THE PRIVATE SECTOR AND TO THE PARTNERSHIP...
|
| 00:54:52 |
Unidentified Speaker, -
PERSON HAS BEEN FIRED. HOW SHOCKING. SHOULD AMERICANS BE OF REACH? YOU THAT THEY SHOULD BE. >> Host: IF EVERYTHING SOMEHOW MAGICALLY IS FIXED EXACTLY...
|
| 00:55:19 |
Unidentified Speaker, -
Guest: EACH INVESTOR HAS TO TAKE PERSONAL RESPONSIBILITY IN THEIR OWN BECAUSE YOU CANNOT COUNT ON SOMEBODY ELSE TO HAVE YOUR BEST INTEREST AT HEART....
|
| 00:55:40 |
Unidentified Speaker, -
IN ANYBODY ELSE? YOU HAVE TO PLACE THE CONFIDENCE IN YOURSELF AND EDUCATE YOURSELF AND DO YOUR OWN CHECKS. >> Host: RIGHT. WELL, THANK YOU VERY
|
| 00:55:49 |
Unidentified Speaker, -
MUCH, HARRY, THIS IS AN INVIGORATING DISCUSSION
|
| 00:55:51 |
Unidentified Speaker, -
AND AGAIN, THE BOOK IS CALLED "NO ONE WOULD LISTEN" A TRUE FINANCIAL THRILLER. AND
|
| 00:55:56 |
Unidentified Speaker, -
HARRY DOES MENTION IN HIS CO INVESTIGATORS HOW YOU RECOMMEND THE BOOK IS A HERRING FRIGATE BUT IT DOES TELL
|
| 00:56:08 |
Unidentified Speaker, -
YOU UNFORTUNATELY THE REAL LIFE TRAGIC STORIES. A BIG REASON WHY THIS FINANCIAL CRISIS CAME ABOUT. THANK YOU. WE ARE OF THE ORGANIZATION OF AMERICAN...
|
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.