Further proof of God's existence (Madoff edition)

When it comes to drawing faith and solace from the headlines, I had thought nothing could top the news that Eliot Spitzer had lost money through Madoff.


But with the recent release of the complete list of Madoff's direct victims by the bankruptcy court, that news has some serious competition:


On the list are Melvyn Weiss and David Bershad, former partners in the famous Milberg Weiss law firm.  The word "former" stems from the fact that those men, not satisfied with being among the leading practitioners of legal extortion class-action securities litigation, are now based in federal prison for kickback scandals.  The email I received containing this information labeled it with the following heading: "Choose Your Own Punchline."


But fear not: you can't keep a plucky plaintiff's firm down, especially for one of the few instances where the actual conduct outstrips what is usually alleged:


Ironically, the lawyers' former firm, now named Milberg LLP, has been one of the most active plaintiff's firms in rounding up Madoff victims for litigation. It has more than 100 victims already signed up, a spokeswoman says.

 

Presented by

Dr. Manhattan

Dr. Manhattan is the pseudonym of a lawyer in New York City who represents, among others, clients in the investment management industry. He started blogging in early 2002, when the entire NYC-based blogosphere could gather in one room (which they often did). In between his frequent retirements, he blogged about politics, baseball, Israel and autism (especially vaccine-related matters) at blissfulknowledge.com. With the regulatory system up for grabs, for this project he has decided to try the novel approach of blogging about matters which bear some relationship to the topics that come up in his day job (within the strict limits of professional obligations, of course). In case anyone was wondering, none of his opinions expressed on this blog are necessarily those of his clients, employer or colleagues.

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