Lawrence R. Velvel, JD

For nearly two years the Madoff affair has made it very difficult for me to find time to write political blogs. That still remains true. But I shall write a short one here because of longstanding concerns, which can only become worse in view of the smashing victory for arch conservatism on November 2nd. Two…

Here is a trick question: How many Michigan quarterbacks are starters this year? The answer is at least three. There is, of course, the fabulous Denard Robinson. But Steven Threet (speaking of three), who left Michigan after being a starter some of the time in Rich Rodriguez’s first year if memory serves, starts for the…

Question: What do John Roberts, Bernie Madoff, Elena Kagan, Richard Blumenthal, Allen Stanford, George W. Bush and Adam Wheeler have in common? Answer: All of them have shown lack of respect for truth and honesty. John Roberts told senators and the country that as a Justice he would merely call balls and strikes, not make…

My writing having been taken up entirely by l’affaire Madoff for almost a year, it is a pleasure to turn to a very short posting on another matter. Here it is: We now live in the United States of Goldman, Sachs. That’s it. That’s the whole post. Explanation of its meaning is unnecessary for anyone…

In accordance with the briefing schedule set by the Bankruptcy Court, the Trustee’s brief on the question of net equity will be submitted shortly. A month later briefs opposing him will be filed. Briefs filed on net equity in the past by Picard’s opponents seem to me very good and, in toto, pretty complete. While…

The SEC – though it ironically is one of the governmental or quasigovernmental bodies most responsible for allowing Madoff to succeed – has put together what one thinks the best description to date of the methods used by Madoff to fool victims, agencies, feeder funds, and huge organizations or immensely wealthy individuals who sought to…

The consent must be a separate written document pertaining solely to the authorized disclosure. It must include the following . . . . Can you beat that? Here is a guy and a company who were the largest frauds in history. The guy, Bernie Madoff, had already confessed and pleaded guilty. The company had ceased…

If readers remember not one other thing of what is written in this four-part commentary, I urge them to remember – and therefore am repeating yet again – the possibility that Picard’s definition of net equity may deprive them not just of $500,000, but also of any share in the estate. This possibility should be…

This commentary is being published in four parts. Let me start it with some comments that will surprise a lot of people. Irving Picard has taken a lot of heat. As readers know, this has occurred for many reasons, including: his novel, anti-statutory definition of net equity, which will likely injure thousands; his delay in…