Wed February 16, 2011
The Two-Way

Madoff Says Banks 'Had To Know' About His Fraud; Should We Believe Him?

Bernard Madoff, mastermind of perhaps the greatest Ponzi scheme in history, has now told The New York Times that the banks and hedge funds he dealt with over the years as he got away with billions of dollars that he was supposed to be investing for clients "had to know" what was happening.

"But the attitude was sort of, 'If you're doing something wrong, we don't want to know,' " he said during a jail house interview with the Times.

Given Madoff's track record on telling the truth, we wonder: Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.