Irving Picard has the thankless job of divvying up the remaining crumbs of Bernie Madoff's empire among the Madoff victims. But Irving Picard is going to be much more popular now that he's finally suing Madoff's family, for everything.
On 60 Minutes last night Picard said, hey, I am going to win myself some friends, for once, and sue these crooked (by proxy, at least) Madoff kids for every red cent their daddy stole, and also they better move out of their nice houses and move into crappy, small houses, as penance, or else. We're paraphrasing.
Picard's team unearthed records showing Madoff's sons Mark and Andrew, who ran a legitimate trading operation, and Madoff's brother Peter, the chief compliance officer, took $80 million in compensation over the past seven years.
Plus, millions more in personal expenses were charged to the company, including private jet rentals, ski vacations and country club dues.
Considering that, I don't think anyone will have a problem with suing Madoff's sons, niece, and brother for $200 million, do you? No, that should be just fine. Picard says he wants the kids' god damn multimillion dollar houses and he wants everything else and "if that leads to bankrupting them, then that's what will happen."
ON THE OTHER HAND: Madoff's sons are trying to get $90 million they say they are owed by dad's company.
Take all their shit, Irving. All of it.