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Madoff money: Trustee spent $26M recovering $849G for victims
NY Post ^ | 10/31/10 | Reuters

Posted on 10/31/2010 4:57:48 PM PDT by jimbo123

A trustee overseeing the bankruptcy of Bernard Madoff's investment firm spent $26.9 million in the second and third quarters to recover $849,000 for Madoffs victims, according to a federal court filing.

Irving Picard, the trustee, said in a filing with Manhattan federal court that much of the expense -- $15.8 million -- went to cover fees for his law firm, Baker & Hostetler LLP.

(Excerpt) Read more at nypost.com ...


TOPICS: News/Current Events
KEYWORDS: lawyersareleeches; madoff

1 posted on 10/31/2010 4:57:52 PM PDT by jimbo123
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To: jimbo123

The trustee appears to have a lower rate of actual return that Bernie did!


2 posted on 10/31/2010 4:58:58 PM PDT by MIchaelTArchangel (Obama makes me miss Jimmah Cahtah!)
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To: jimbo123

when the fog of this demented age has lifted, Bernie Madoff will be remembered as honorable.


3 posted on 10/31/2010 4:59:34 PM PDT by the invisib1e hand (sarc tags are for whimps.)
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To: jimbo123

Up and coming politician?


4 posted on 10/31/2010 5:00:14 PM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: jimbo123

Sounds like the trustee gained his experience by working for the government.


5 posted on 10/31/2010 5:00:14 PM PDT by pallis
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To: jimbo123

Obviously not all criminals are behind bars...


6 posted on 10/31/2010 5:03:17 PM PDT by SECURE AMERICA
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To: jimbo123
Bu...but....um...

Oh nevermind.

7 posted on 10/31/2010 5:03:29 PM PDT by Blackhawk (God said it, I believe it, That settles it. Forever. Amen.)
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To: jimbo123

Lawyers. Ya gotta love ‘em! ROTFL! They sure do love the money.


8 posted on 10/31/2010 5:10:26 PM PDT by FlingWingFlyer (Just another white boy riding in the back of the bus next to the Emergency Exit.)
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To: jimbo123
"much of the expense -- $15.8 million -- went to cover fees for his law firm"

Oh... I see.

9 posted on 10/31/2010 5:11:40 PM PDT by Mr. K (All our candidates suck! The media SAYS SO!!)
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To: SECURE AMERICA

All? All?


10 posted on 10/31/2010 5:16:30 PM PDT by tired1 (Federalize the Fed)
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To: jimbo123

Trustee, a chip off the old Madoff block huh? Money never sleeps.


11 posted on 10/31/2010 5:17:52 PM PDT by SanFranDan
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To: jimbo123
The same thing happened in Dickens' Bleak House 160 years ago. Some things never change.
12 posted on 10/31/2010 5:19:05 PM PDT by Dr. Sivana (There is no salvation in politics)
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To: jimbo123

the term “Shovel ready recovery “ comes to mind.


13 posted on 10/31/2010 5:23:46 PM PDT by Waverunner (")
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To: MIchaelTArchangel

Wow, the Obama Administration needs to tap this team. They are AWESOME, they’ll probably make the rest of his cabinet look real great.


14 posted on 10/31/2010 5:24:23 PM PDT by rovenstinez
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To: Mr. K

You should meet my cousin Oiving, he’s such a schmart lawyer!


15 posted on 10/31/2010 5:24:27 PM PDT by nkycincinnatikid
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To: jimbo123
the scammers on the inside like madoff are nothing compared to the scammers on the outside. the lawyers are just protecting their clients interests /s
16 posted on 10/31/2010 5:24:47 PM PDT by paul51 (11 September 2001 - Never forget)
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To: jimbo123

Maybe John Malkovich needs to go all-out postal on this guy, too...


17 posted on 10/31/2010 5:27:40 PM PDT by UCFRoadWarrior (They don't let you build churches in Mecca)
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To: SECURE AMERICA

Nice work if you can get it.


18 posted on 10/31/2010 5:29:29 PM PDT by Eric in the Ozarks (Impeachment !)
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To: FlingWingFlyer
Lawyers, Politicians, Child Molesters all one and the same.
19 posted on 10/31/2010 5:32:16 PM PDT by mongo141
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To: jimbo123

Of course, the lawyers get paid before anyone else.


20 posted on 10/31/2010 5:32:41 PM PDT by clee1 (We use 43 muscles to frown, 17 to smile, and 2 to pull a trigger. I'm lazy and I'm tired of smiling.)
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To: cripplecreek

“Up and coming politician?”

LOL! Shovel ready!


21 posted on 10/31/2010 5:34:37 PM PDT by maggief
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To: Dr. Sivana
The same thing happened in Dickens' Bleak House 160 years ago. Some things never change.

Yup. Jarndyce lives!

22 posted on 10/31/2010 5:46:30 PM PDT by Grut
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To: jimbo123

government efficiency??


23 posted on 10/31/2010 5:55:50 PM PDT by GeronL (http://libertyfic.proboards.com <--- My Fiction/ Science Fiction Board)
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To: jimbo123

Lawyers suck.


24 posted on 10/31/2010 6:03:44 PM PDT by DTogo (High time to bring back the Sons of Liberty !!)
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To: mongo141
Lawyers, Politicians, Child Molesters all one and the same.

I wish you wouldn't unnecessarily smear child molesters...

25 posted on 10/31/2010 6:07:20 PM PDT by PugetSoundSoldier (Indignation over the Sting of Truth is the defense of the indefensible)
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To: jimbo123

much of the expense — $15.8 million — went to cover fees for his law firm, Baker & Hostetler LLP.

Just had to see it again!
Un friggin believable


26 posted on 10/31/2010 6:37:47 PM PDT by griswold3 (Nov 2 is not just an election, it's a restraining order)
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To: jimbo123

The trustee lawyers do what lawyers do best, raping producers in the country.


27 posted on 10/31/2010 7:07:41 PM PDT by WaterBoard
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To: jimbo123

Ouch!!! I have a friend who works at this firm. . .on this matter.


28 posted on 10/31/2010 7:10:06 PM PDT by FlipWilson
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