Jed Rakoff is one of the most respected federal judges in the country, so when he issues an opinion calling one side’s arguments “convoluted,” “conjecture” and “a stretch,” people tend to take notice.
He did so on Thursday, in the matter of Irving H. Picard v. HSBC. Picard, of course, is the bankruptcy trustee in charge of recovering money that he can distribute to the victims of Bernie Madoff’s heinous Ponzi scheme. To this end, Picard has filed something like 1,000 lawsuits, seeking more than $100 billion.
Read Full Article »
