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Another PR Predicament

To: Mark Madoff
From: George Sard
Sard Verbinnen & Co.

Mark:

I think its time that we had a meeting of the minds. That necessarily means that you should leave Andy at home.

We've done a good job so far by keeping our relationship under the radar screen; and if people want to think that Eric Starkman is whispering in your ear, so be it. My job is to spin from behind the curtains, and when clients pay me $800/hr, I don't need the publicity, I just need to make sure the checks clear.

That said, your brother's antics are getting a bit out of control. I like Morton's Steakhouse as much as anyone, but when I heard that Eliot Spitzer put a bid on the gift certificate, the conflict check department sent me a memo and advised that we could have a bitch slapping event on our hands before we know it.

And, there won't be enough Soapopular hand sanitizer to quell that type of media incident.

Sure, your Dad has been poking sticks at AIG, yet another client of our's, and I thought it was an interesting idea to reach out to Dick Fuld, yet another client, for a role running the MIDAS Fund (Madoff Investor Distressed Asset Sale).

But, when I heard that your brother just brokered a deal with Silverman for him to appear on that ridiculous show "I'm A Celebrity, Get Me Out of Here..", well...you can imagine how much more difficult that makes our job.

And that means we need to re-evaluate our fee schedule.

I'm willing to stick with the $800/hr rate for counseling you, but as far as Andy is concerned, we're going to have to add a surcharge. We're getting way too many calls lately, and considering that the media storm is going to circle back over everyone's heads as your father's sentencing date approaches, we'll have to add more resources to the spin machine.

I think we should meet ASAP, and I can get a puddle jumper to bring me up to Nantucket in time for dinner. Suggest we meet at American Seasons . Martha Stewart told me the food is great at this place.

While I won't waive the cost of the charter plane, I'm happy to pick up the first round of drinks.
GS

Full post as published by Bernard Madoff on June 06, 2009 (boomark / email).