Madoff Costs Surpass Victim Pay-Offs ...

Madoff Costs Surpass Victim Pay-Offs as Strategy Lies in Ruins

There are 1 comment on the Bloomberg story from Apr 29, 2012, titled Madoff Costs Surpass Victim Pay-Offs as Strategy Lies in Ruins. In it, Bloomberg reports that:

Irving Picard , who said last year he hoped to pay investors in Bernard Madoff's defunct firm as much as $65 billion, has only put his hands on about $2.6 billion to actually give back to customers.

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Stan Stein

United States

#1 May 1, 2012
While swindled investors involved in claw back actions are forced to hire lawyers at $400-$800 an hour to fight Pickard's lawyers the bell keeps going ching ching. Is this just a lawyers game to keep the action going on for the next two years costing investors even more money thatn have lost already with Pickard's lawyers calling innocent investors greedy. Screw this whole process....as always the lawyers are the only winners and since they make the laws and then defend them and are the ones to change them when they get to Congress many of us will lose forever.

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