Mopping up the Madoff mess

$1.3 billion in fees are headed toward lawyers and consultants [FT via Salmon]


  • I notice in the comments on the article that third party investors are not being compensated. Is that really true? That is, given that they don’t recover directly, don’t they recover from the second parties, who in turn recover directly?

  • It’s outrageous that the money comes from the SIPC. For the most part, Madoff and his victims deserved each other. Let them keep the mess contained among themselves.