In Hindsight, 37.5 Million Dollars Isn’t Cool. You Know What’s Cool? A Billion Dollars

Back in 2009, when Picard and his law firm Baker & Hostetler had been working on the Madoff case for less than a year, I observed that the firm had already been awarded total attorneys’ fees of $37.5 million with “no end in sight.” The fees paid to Picard and his firm come from SIPC, not from any recovery obtained by the trustee. More in Compliance Week here.