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#Madoff Feeder Says "I'm Fed Up!"

To: Irv Picard
From: Walter Noel
cc: Jeff Tucker

Dear Irv:
When my houseman brought in the mail yesterday, and then passed it over to the butler, who then passed it on to our downstairs maid, I was actually surprised to see the letter from you.

After everything we've discussed, you somehow expect that I would personally be in a position to fork over  hundreds of millions of dollars as you seek to 'claw back' $3 billion+  from the various funds that were under FGG's umbrella?

Are you crazy?! Do you have any idea how much it costs me to support FIVE daughters, their husbands, their pets, their houses, their cars, their private planes and all of those g-d damned Tiffany accounts?? Just look at this crew! It costs millions a year just to keep them coiffed, not to mention the private tutors, the stylists, the cars, the champagne, the parties, the cotillions, and of course, the therapists.




Speaking on behalf of Jeff Tucker, I'm pretty sure that all he's prepared to give you is more horse sh*t, which he makes on that horse farm of his. Yes, he's trying to sell it, but the $18 million or so that it might fetch is barely going to cover his Amex bill, let alone anything that you would want from him.

BTW- We have the same lawyers that Jamie Dimon uses, and you already know how easily they swatted away the silly lawsuit against them.  You know, the one in which the plaintiff suggested that JPMorgan must have done something wrong by removing all of their funds from the Madoff account after they noticed that Bernie's checking account balance went from $10 billion to $100 million in three months.

Last, I thought you had figured out by now that between me, various accounts set up for the kids, and a few others, we personally lost $70 million that we had on account at the time the firm closed. That's seventy big ones, Irv. Not chopped liver. And since the $50 million a year in fees that I was taking in evaporated when Bernie blew up the shop, we had to actually rent our place in Mustique this past winter because of that hickey! Do you have any idea how much crap I got from Monica for that??

What I'd like you to explain is how SIPC can refute our claims for the paltry $500k for each of those accounts!

Maybe,  if  you stop diddling around with Picower's people, and actually force them to send back their ill-gotten gains, you'd get off of my back!
W. Noel

Full post as published by Bernard Madoff on July 22, 2010 (boomark / email).