With all the investors in distress news in today's Times, I'm just glad that we're somewhat close to Thanksgiving. This Madoff motion by the investors who think their losses ought to include some of the scheme's paper profits is pretty cheeky, and completely antithetical to the way the trustee has been doing things. It could also, it seems to me, put the SIPC - the securities industry FDIC - on the hook for the whole fictional $50 billion originally thrown around with regard to the affair, it seems to me. For that reason alone, it seems like a stretch, but one increasingly thinks knowledge of bankruptcy and its cognates would be of real assistance these days. Also in distress - Raj Rajaratnam's defense, ably analyzed by Peter Henning here.
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