Well, even though you may not like the trustee's methods[i.e. sue everybody and hope for the best], to my amazement with the "Picower Settlement" the total recouped for victims(investors) is probably now $10 billion or more. Wow!
You have to applaud Irving Picard's results. There were very limited Madoff assets available...so he went to plan B; "clawbacks, co-conspirators,"feeder funds", accountants, middlemen, etc.
It will be interesting to see how much is actually recovered, how long it will take to pay out and how it will be determined who gets what...Gonna be a "dog-fight" over the $.
At least there will be some relief for individuals who actually lost their life savings or close to it... So many lessons to be learned..
We'll discuss some of those at a later time.
Your thoughts?
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