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For this. elsewhere, the man unwinding the fraud of the madoff scandal, $17 billion of lost money there, he s now recovered a total of $10 billion worth of money for those clients who lost money from the madoff scandal. 59% recovered. he s chasing more money from more banks, the likes of unicredit, hsbc amongst those. they have denied benefiting from the madoff scandal. back to you. all right, what are they doing with our mcdonald s hamburgers here, steve? well, what is sustainable beef? and that is a huge, great big question. despite the fact that mcdonald s has said we will have sustainable beef, we will start sourcing from sustainable beef sources by 2016. the problem is, there is no official definition right. but we think they mean where environmental practices and workplace practices are very good and there is a continuous improvement in animal health, but with you don t know what that will do to prices and don t have a firm definition just yet. almost seems like susta ....
High as they ve ever been. nick robertson, cnn jerusalem. i m telling you, this is something else. jp morgan will pay out $1.7 billion. it s the madoff scandal. $1.7 billion. that s a lot of money. he was the wall street scam artist who will die in prison. he basically destroyed the lives of investors who put money with him just before the financial crisis exploded. this was the guy that started to unravel the whole empire was a fake. he had never been trading. he had been doing business with legitimate banks, hedge funds, ....
Good morning. i m carol costello. thanks so much for joining me. the nation s largest bank has struck a deal with federal prosecutors in the bernie madoff ponzi scheme. you might remember. it has been five years ago since that explosive scandal that madoff had carried out one of the biggest investment scams in history. jpmorgan chase will pay $1.7 billion to settle criminal charges accusing it of ignoring warning signs. it is the largest penalty of a bank in the nation. i know that was difficult to follow but i apologize for that. in short, jpmorgan is going to pay out $1.7 billion to victims of bernie madoff for its part in this scheme. we re trying to figure out what part jpmorgan played in all of this? they were his banker for 20 years, a banker to a man that ....
Issues i don t know the technical stuff, and i look for style. i look for people who seem to be actually looking at evidence. i look for people who have been willing on occasion to admit that they have made a mistake in the past, look for some sign that the person is actually seriously studying as opposed to just spouting a public line, but that s you know, i ve talked about this. it s there s this issue that came out from the madoff scandal of infinity fraud where people seem like it s their guy and a lot of that going on in public policy where people listen to sources if you actually believe what you read on the wall street journal editorial page you would have lost a lot of money but they believe it because it seems like their kind of people. you talk about the willingness to make mistakes. what are the big mistakes, what are the big things you ve been wrong about in the last ten years? the biggest was i was kind of expecting a deficit induced financial crisis in the e ....
Greg mankiw or someone else. my question is how should citizens who are not economists go about trying to adjudicate these disputes that s one beat more sophisticated than just reading the person on your team? yeah. that s a that s a hard issue. i mean, in fact, what do i do on issues that are i don t know the technical stuff. i look for style. i look for people who seem to be actually looking at evidence. i look for people who ve been willing on occasion to admit they made a mistake in the past. look for some sign that a person is actually studying as opposed to just spouting a public line. but, you know, i ve talked about this. it s there s this issue that came up from the madoff scandal of affinity fraud where people believe somebody who seems like their kind of guy and there s a lot of that going on. ....