Safer so this was the scene of the crime. Irving picard gave us a tour of Bernie Madoffs 19thfloor offices, an impressive landscape emptiness. His desk was here. Safer picard has the thankless task of finding the money, the billions that madoff scammed. watch ticking Arlan Galbraith who called himself the pigeon king convinced hundreds of american and Canadian Farmers there was good money to be made raising the birds for food. And everybody we talked to said this guy washe was on the up and up. Nobody had a bad word to say about him. watch ticking stahl welcome to 60 minutes on cnbc. Im leslie stahl. In march 2009, Bernard Madoff pleaded guilty to perpetrating whats believed to be the largest financial fraud in history. He received the maximum sentence for his crime, 150 years in prison. But while madoff is behind bars, theres still much we dont know about the scam which involved, by some accounts, a fraud of more than 50 billion. Investigators are still trying to figure out who was in
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surprised if he does not take a substantial hit to his compensation this year. and you know they re going after a full two-year clawback for these people. reporter: nevertheless, analysts were impressed by the quality and quantity of j.p. morgan s results, which included suprisingly strong loan demand. it happened at a fortunate time for them because as the numbers showed today they ve been able to power through earnings even taking a close to $6 billion loss. reporter: dimon says the bank has put most of its whale-sized problem behind it. but, analysts say it will take time to recover from the reputational black eye. suzanne pratt, n.b.r., new york. nightly business report is brought to you by: captioning sponsored by wpbt tom: banking stocks lead the rally on wall street today, susie, helping the dow and the s&p end a six-session losing streak. susie: tom, investors liked those j.p. morgan results and snapped up shares. j.p. morgan surged almost 6% and the fin
reporter: j.p. morgan had so much news to explain to wall street it held a two-hour analysts meeting here at company headquarters today after it released its earnings report. here s what c.e.o. jamie dimon had to say about the bank s big blunder. we are not proud of this moment, but we are proud of our company. we are not making light of this error, but we do think this it s an isolated event. one of the reasons you do hold capital is for known and unknown events. reporter: the bank revealed those unknown events could still mean another $1.7 billion in losses, down the road. managers tied to the bad trades were fired and j.p. morgan plans to revoke some of their back pay. as for a so-called claw back for dimon himself, that s still on the table. i would be very, very surprised if he does not take a substantial hit to his compensation this year. and you know they re going after a full two-year clawback for these people. reporter: nevertheless, analysts were impressed