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The First Look - Adam Shapiro, Fox Business

Apr 30, 2013|

The First Look - Adam Shapiro, Fox Business

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Adam Shapiro has the dubious honor. The 810. With the biggest for a in the in the history of financial crimes may -- I -- I don't I don't -- did you know -- -- who by the -- welcome but it where were you friendly with with Bernie Madoff before he was convicted of those crimes -- does the relationship that develops. You know actually that the reporter to -- first and all of that's been there and a couple of times he had the book he conceded that famous article and parents back in the nineties. About attitude -- a bit -- -- figured out. I don't know if she's friends with him but I think she was friendly with -- at the time but I was not entered the the. He I -- about it and yet that he you're the only one I know love that is receiving correspondence from Bernie Madoff are you buying what he is selling. Partially. But sometimes that -- return. For instance mr. Madoff am what I think is going on -- he wants attention. You'll stay almost anything yet you know and we in what he says are some nuggets of truth but there have troops. Print and in his mind he believes that the victims of his crimes. Have all been made whole week has the trustee mr. McCord yeah. As recovered. I think -- about nine billion dollars. Is it about 56 cents on the dollar from right and. So vertical space these people are getting back 56 cent on the dollar but let's let's let's let's break that down to -- mind nobody got hurt if they're getting their money back but. If you gave Bernie -- 100000 dollars twenty years ago. You're you know that's twenty years you lost thanks to Bernie Madoff and -- -- only the direct investors. Who word net losers the people who actually extracted money -- getting nothing. And then you've got that thousands upon thousands of people invested in Madoff through the -- -- isn't. And they're getting now. So he conveniently forgets that an open book so pathetic you remind him about that he doesn't discuss that and the emails take a lot of the back and forth Egypt go to the federal prison Cortland this. But Adam he's he is accused in his correspondence with you from what I gather he is saying it's okay. -- JPMorgan knew what I was doing Citibank and knew what I was doing as -- as a consumer. I can I I have to wonder if JPMorgan was an awareness. OK so the banks have denied to comment on that they have that in the past that they they did not know mister Madoff was doing and indicated JPMorgan Chase he had accounts they're. Where he was moving money from New York to London and back hundreds of million dollars -- the 24 hour period. And what the regulators as that is yet JPMorgan Chase should have now. They should have figured something was wrong because. Just what they have in place. Safeguards when these kinds of some of these amounts of money here moving users of its poster -- warning. But -- you look at it from the other side and you know Bernie Madoff was respected. You know player of the broker and it would not be and comment to be moving these kinds of money but he had a -- back and forth there should have been -- threat. Yeah anatomy you know darn well right nobody ever knew what Bernie was still right they make you never heard about Bernie taking a position -- now when Warren Buffett buys a stock right. Thank you know that war but he's filed his is that seat he forms you know what he's doing. Exactly so why weren't people suspicious why we're at the bank saying -- We -- we see all this money coming in the door we never hear about Bernie buying a stock how come. Dose to. Yours having of people that Albert is there and lots of people on Wall Street you know after the fact. Claiming to a Bernie was doing what to what will happen is I can't tell you the name of the bank and at tape and have a guy. Friend of mine in discussions shared with me that -- at one point he was part of the bank which was considering. You know going into mister Madoff so firm. And they could not figured out and when they could have figured out they figured something was wrong airport they walked away. To that you get a lot of that a lot of people on Wall Street who could not figure it out they say they could not figure out there where they walked away. Get plenty of people who did not walk away I mean there is the man who committed to his side -- of the Lucia day. If you do which part of his return -- investors. It is the twenty year lines straight out. -- I think that that's part of right. -- impossible right -- my weight like that yes. Yes but -- for me it's my gray hair hey Adam. Okay that's a great press and so an any email recently from mister Madoff he had his. It did that he's talking to someone like -- But that he's talking to someone in pretty high up. And that EE that he wants attention so he wants to be called as the emblem was likely what would happen is. A committee member or staff member would be sent to the prison and North Carolina but there -- and they meet with him. The key question is what he's dead he's -- in the email the media over a month ago. The banks were complicit. In but he was -- and he wants to discuss how they were but. That's that was his overture and I sent that email different. People in Washington the state elected you ought to tuck them bank wants. That he's claiming that there's -- and someone nibbling. What Bernie Madoff being called -- capital held at the I would not put money on that I'd -- the way it is. Adam are you allowed to go down and conduct a television interview with Bernie. Oh from you more about the budget so here's what -- on the Ernie says he's promised the first interview to that guy everyone knows -- -- and -- be on the base I elected than -- one of the race they lived in the same building that Larry and Bernie Madoff within built. He was so party -- that if he covered entities you know cute it's going to be -- -- -- -- any cutting and that maybe Barbara Walters -- get it. And certainly I'm not the only person on the planet who is that the TV interview but he also insist that the president refuses to grant. Well that's right it and that's I was gonna ask with the prison allow it. To the Federal Bureau of Prisons as the people. Actually got one right there it's called. It's the it's news media contact form. FFF. 540 point six era which is part. 1480 point 05. And it's -- page guide it out request in interviews of federal inmate shortages yet. Federal inmate can -- grant interviews at the warden of the of the petition says yes it's the inmate poses no risk to anybody if they're not involved in pending litigation. And yet. Day and then that that the door is open but at the end of the day at the discretion. Perhaps -- award. Right right -- insisting it's a day I'll go with you if you want. Obviously keep it right. I'll let you know call it -- it uncle I don't look like a lot of runs camera -- -- of the west Bergen says that the banks that that there might challenge him in my response limit my relationship with him and -- reporters -- email with. He is that there's certain things he says which are off record this certain thing to say -- -- -- they ought to record and that's the stuff that we were and they as people. But that we the only that our record in the people game tidbit. To what could that. It's like any red act on par in pretty quickly if you like it but he also. Says that news media organizations yes and to deposit money are you ready to deposit money it is commentary because it cost. And money to go on line yet to pay five cents a minute yeah. And we refused to do it but will not put money and it is there any NBC's doing it I won't say who he says is doing -- but I can tell you that fox. Is that absolutely would not put money goes object at that that we. Taken the high road Adam I don't get like -- thanks retire and I appreciate it be well at a future. So would -- huge in would you be willing to operate the camera if for Bernie Madoff and I'd I would do in a minute. Let me lie but would you be getting it and this being in development in the opening -- yet. Punch in the -- eight when we come backwards take a look at your text messages we were asking you what your thoughts there about GE capital they are no longer financing gun shops.