Posts Tagged ‘Bernard Madoff’

Banking and finance roundup

  • Still money left in that piggy bank: Justice Department shakes $1.7 billion out of J.P. Morgan because its custody wing kept handling a primary Bernie Madoff account while a distant equity desk grew suspicious of him, in what “looks a bit like a tax on bigness and integration” [Matt Levine, Bloomberg; NPR].
  • Legacy of TARP one of cronyism and lawlessness [Mark Calabria, USA Today]
  • NYT assails a couple of academics as mouthpieces for Wall Street, Felix Salmon has a bit to say about that [Reuters, EconBrowser, Bainbridge, Pirrong] Daniel Fisher on a possible tie-in with Times reporter David Kocieniewski’s earlier piece flaying Goldman Sachs over aluminum warehousing [Forbes]
  • “Court Receptive to Overturning SEC’s Conflict Minerals Disclosure Rule” [Fed Soc Blog]
  • “Target Breach — Are Dodd-Frank ‘Swipe Fee’ Price Controls to Blame?” [John Berlau, CEI “Open Market”] “Volcker Rule Overshoots Wall Street to Hit Utah” [same]
  • “CFPB and Disparate Impact” [Hester Peirce, Point of Law]
  • “It might cost you $39K to crowdfund $100K under the SEC’s new rules” [Sherwood Neiss, VentureBeat via @jerrybrito]
  • Here’s a novel proposal for corporate governance: use the rules agreed upon by the original parties to the transaction [Hodak]

May 26 roundup

“Devil’s Bargain: Wall Street and the Martin Act”

My new op-ed at the New York Post looks at the history of Spitzer-to-Cuomo-to-Eric Schneiderman prosecutorial overreach and asks: how exactly did the New York Attorney General come to have so much power with so little constraint? (& welcome Instapundit, Real Clear Markets, Timothy Carney/Examiner, CEI readers)

More: I and others have written about the act here and at Point of Law.

December 20 roundup

  • Texas Gov. Rick Perry may urge the state to take a step toward loser-pays [NJLRA]
  • “FCC push to regulate news draws fire” [The Hill]
  • Could litigation on behalf of Madoff victims get more than all their money back? [Salmon, more, NYT, Above the Law]
  • “Chevron Says Documents Show Ecuador Plaintiffs Worked With Government” [Dan Fisher/Forbes, more]
  • Organized trial lawyers expect to fare less well in next Congress, but prospects for actual liability reform remain slender [Joseph Weber/Wash. Times, Matthew Boyle/Daily Caller]
  • Mount Laurel rulings in New Jersey (towns given quotas to build low-income housing) described as “libertarian”, I express doubts [Hills, Prawfsblawg]
  • Criminal law’s revolving door: “prosecutors turn up the fire and then sell extinguishers” [Ribstein, TotM]
  • The wages of unconstitutionality: a Utah attorney’s curious fee niche [five years ago on Overlawyered]

March 2 roundup

“Golden receivers”

Fees for receivers, administrators and other professionals are eating up too much of the remaining assets of Madoff and other collapsed investment ventures, critics charge: “in one recent $6.6 million fraud, the receiver distributed 43 percent of the assets to the victim — the rest went to professionals.” [NY Post]

“Plaintiff’s lawyer talks to Madoff in prison”

The mega-fraudster has turned down innumerable interview requests from others, and was not as forthcoming with prosecutors as they might have liked either, but apparently had a cordial and productive chat Tuesday with high-profile San Francisco plaintiff’s lawyer Joseph Cotchett, who pronounced the scoundrel “an absolute gentleman” and said he “answered every single question”. [Amir Efrati, WSJ Law Blog]