At The Daily Beast Allan Dodds Frank has supplied a valuable perspective on the Picower settlement – although you need to be alert to see it.
“Payday for Madoff Victims” (December 18 2010) first of all refutes Barbara Picower’s tendentious assertion:
“I want to underscore the fact that neither the Trustee nor the U.S. Attorney has charged him with any illegal conduct.”
Picower could not be charged for a simple reason — he conveniently died.
Asked about Picower’s role in Madoff’s scheme and whether the settlement cleared Picower’s name, U.S. Attorney Bharara said, “Mr. Picower passed away a year ago and so the question of whether he had a role—as a criminal matter—is now moot.” Bharara refused to say more… Read more