Despair not, Friends of Bernie. Checks are headed your way. At least, that’s the rumor. Yes, true, they might not be quite as large as you were expecting, or hoping, or wishing for, but a check is a check- but we post our checks from the phone company for lost quarters as soon as possible, so maybe our perspective isn’t perfect.
If you are still waiting, hang in there. The check’s in the mail.
Checks for about $30 million have been mailed out so far to individual victims of Bernard L. Madoff’s multibillion-dollar Ponzi scheme, according to the court-appointed trustee handling the case.
Those checks are part of $61.4 million already approved for payment by the Securities Investors Protection Corporation, the federally chartered agency which oversees the liquidation of brokerage firms. The total of approved claims is expected to reach $100 million by Memorial Day, the trustee said.
So far, the 125 claims that have been approved for payment add up to losses of $368 million, said Irving H. Picard, the trustee, in a news conference on Thursday.
Of the checks mailed so far, almost all were for $500,000, the maximum protection provided under the S.I.P.C. law.
$30 Million Paid to Madoff Victims [The New York Times]
BEAM ME UP PICARD
The Guy From Delaware
I love how it’s still “alleged.”
Talking about Memorial Day, it is fast approaching and we all know what that means. Memorial Day is a national holiday that is celebrated in many countries, to honor the fallen ones. The American Memorial Day is almost upon us. It’s usually one of the first days of the season of grilling, and you can grill up some uber tasty treats without needing a faxless payday loan. The old standbys of burgers and hot dogs are there, but grilling chicken or fish is also always a hit. $5dollardinners, the website for recipes on the cheap, has a host of recipes for Memorial Day that won’t send you running for debt relief – and take it easy on the beer.
http://personalmoneystore.com/moneyblog/2009/05/18/memorial-day-recipes-feed-friends-family-cheap/