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24 hours a day, seven days a week. >> reporter: it wasn't. they pooled the money in shell companiesch using new accounts to pay out $51 million to investors that didn't get stiffed. and they lost nearly $50 million through their so-called risk-free trading program. all the while, giving investors phony statements showing solid gains. ♪ i promise >> reporter: this scheme lasted at least three years. by the time the government caught up with them, over $100 million had disappeared. >> bmw, lexus, collection of watches and fabrege eggs. cook pled guilty to mail fraud and tax evasion. he spent i...

They're behind monies that they're supposed to be paying the government and the interior department, tomorrow, going to be talking about that a lot. there are a lot of issues still on the table the but tonight we can all take at least a sigh of relief and not have to watch half of our screen right now being that oil gusher. >> absolutely. doug brinkley, as always appreciate your time. john hofmeister, thank you both of you for joining us tonight. appreciate it. >> thanks. >> folks, don't go anywhere. could be an important hour, as we hope to learn if the cap will keep holding. it has been near...

The obama administration came in strong at one juncture. department of energy. president obama brought in the best petroleum engineers and scientists and minds of the world to confront what was an, and is a national security problem, not a bp problem, not a company's problem but an american problem. and you are getting some results here. you know if you look at the history of warfare, world war ii, so many advancements in technology come at a time of crisis. president obama addressed the nation from the oval office and gave kind of a war time speech and said we are going to attack this problem...

I want to be able to show faith in him again. and in the government again. this its what the government is for. they're supposed to take care of us. and they're letting us down. not just the oil workers, the fishermen, the crabbers, the oystermen, the shrimpers, all of the people of south louisiana. and alabama and mississippi and florida and texas, 4 million people strong, crying out. what do we get? we get lies, we get commissions, we get meetings, we get hearings. well for god's sake, jesus did not hold a commission about the lepers he went out and helped them. that's what i'm asking him to...

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