Irving Picard | Observer

By Patrick Clark 9/21/12 6:08am

Former Gov. Pawlenty Puts Snout in Wall Street Trough; Senate Holds HFT Hearings: Roundup

When former Minnesota governor Tim Pawlenty was campaigning to be the Republican presidential nominee, he told reporters that his “truth message to Wall Street is going to be, ‘Get your snout out of the trough.’” Which, maybe that’s still his truth message? But instead of delivering it as co-chairman of Mitt Romney’s campaign, Governor Pawlenty will be speaking it as head of the Financial Services Roundtable, a banking industry lobby.

Somewhere, an algorithm read the coverage of yesterday’s Senate Banking Committee hearing on high-frequency trading, and figured it will take years for the government to hammer out reforms to fix market structure issues. Read More

By Mike Taylor 12/17/10 4:37pm

Ponzi Schemes

Madoff Settlement in the Works: $7 B. On the Line

A huge settlement of claims by Madoff trustee Irving Picard is in the works, according to The New York Times. Mr. Picard’s legal rampage has ensnared the New York Mets, HSBC, JPMorgan Chase and scores of others, and now he looks ready to add $7 billion to the Bernie Madoff Read More

By Mike Taylor 12/14/10 12:49pm

Wall Street

Morning Roundup: Politicians Fussing Over Money

The one Federal Reserve member who thinks printing more money is a bad idea can’t shake memories of the horrendous and rampant inflation the U.S. experienced in the 1970s. [NYT]
The Republicans who just entered Congress may want to put a check on all that money printing, a development that would Read More

By Mike Taylor 12/13/10 12:58pm

Wall Street

Morning Roundup: Wall Street Is Doing Great!

Irving Picard, the trustee in charge of reclaiming funds for Bernie Madoff’s victims, plans to proceed with lawsuits against beneficiaries of the fraud. He will not be deterred by the suicide of Mark Madoff, Bernie’s son, this past weekend. [WSJ]
If you have been having trouble getting credit lately, you may Read More

By Mike Taylor 12/10/10 7:36pm

Ponzi Schemes

Irving Picard Smacks Austrian Banker With $19.6 B. Madoff Suit

As the deadline approaches for Madoff crusader Irving Picard to file lawsuits against any potential malefactor he can think of, the trustee is going for the gusto. He’s suing Austrian banker Sonja Kohn for $19.6 billion and calling her Madoff’s “criminal soul mate, whose greed and dishonest inventiveness equaled his own.” Ouch.

The resemblance, in Read More

By Mike Taylor 12/07/10 8:13pm

Ponzi Schemes

Mets Owners Sued in Madoff Retribution Campaign

Bernie Madoff Ponzi avenger Irving Picard is doing something long-suffering Queens baseball fans have often dreamed of: He’s suing the owners of the New York Mets.

Of course, Mr. Picard isn’t seeking redress for the team’s ignominious standing in major-league baseball. Instead, he’s going after Mets owner Fred Wilpon, Sterling Equities Read More

By Mike Taylor 12/06/10 8:17pm

Ponzi Schemes

Picard Says HSBC Was Hip to Madoff’s Game in 2001

Irving Picard, the trustee in charge of securing money stolen by Ponzi schemer Bernie Madoff, is accusing HSBC of continuing to deal with Madoff feeder funds despite the London bank’s significant suspicions about the fund. It is on those grounds that Mr. Picard is suing HSBC for $9 billion.

As was the case with Read More

By Mike Taylor 12/06/10 3:27pm

Ponzi Schemes

Picard Engages HSBC With $9 B. Madoff Suit

Fresh off his $6.4 billion filing against JPMorgan Chase, Madoff Ponzi avenger Irving Picard is setting his sights on London-based bank HSBC. Picard is hitting up HSBC for $9 billion. He’s gone hyper-litigious of late, suing more than 100 people and institutions as a Dec. 11 deadline for filings to reclaim ill-gotten Read More

By Mike Taylor 12/02/10 10:52pm

Ponzi Schemes

Madoff Trustee Hits Up JPMorgan for $6.4 B.

Irving Picard, the well-compensated trustee in charge of wresting Madoff victims’ money from Madoff beneficiaries, is suing JPMorgan Chase.

Reuters reports that Picard, who’s been rapidly expanding his efforts to claw back investor dollars, is seeking $1 billion in fees and profits, plus $5.4 billion in damages from the banking behemoth. Read More

By Mike Taylor 9/02/10 6:52pm

Money

Madoff Victims Cry Foul at Trustee Fees

Bernie Madoff’s victims want to get their money back faster. The New York Post reports that hundreds of Bernie Madoff’s investors are arguing in court that Irving Picard, the court-appointed bankruptcy trustee in the Madoff case, is raking in too much cash for his stewardship of the ill-gotten funds.

The bill for Picard’s Read More

The New York Observer

Betabeat

PolitickerNY

GalleristNY

Media

Real Estate

Culture

Opinion

Commercial Observer

Former Gov. Pawlenty Puts Snout in Wall Street Trough; Senate Holds HFT Hearings: Roundup

Madoff Settlement in the Works: $7 B. On the Line

Morning Roundup: Politicians Fussing Over Money

Morning Roundup: Wall Street Is Doing Great!

Irving Picard Smacks Austrian Banker With $19.6 B. Madoff Suit

Mets Owners Sued in Madoff Retribution Campaign

Picard Says HSBC Was Hip to Madoff’s Game in 2001

Picard Engages HSBC With $9 B. Madoff Suit

Madoff Trustee Hits Up JPMorgan for $6.4 B.

Madoff Victims Cry Foul at Trustee Fees

Across the Wire

Hipster Newsstand Opens in Williamsburg Because Hipsters

So Much For Picnics: Union Square Park To Get Classy, Controversial Restaurant

The Return of Wall Street’s Cassandra: In Armani and Pearls, Meredith Whitney Smacks Back

'Quinoa doesn't just live a modern fairy tale, she wears one.': Imaginary Mom Loves Imaginary Well-Dressed Toddler Daughter

55% of New Yorkers Can't Name a Single Mayoral Candidate