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Madoff Clawbacks: Bernie's Best Advice; My Congrats to President Obama

First- to President Obama:
Ruth, me, my sons, and Ira just want to extend to you and your family our warmest wishes and best regards.

You're an inspiration to tens of millions of Americans, including us; and we're all looking forward to your leadership. You've got a lot on your plate, but the good news is that after today's close, the f--king market is that much closer to a bottom. The sooner you get this knucklehead Hank Paulson out of his office, I think we'll be that much better off. I hear he's got enough problems with his son's business and some funny loans that he has to take care of anyway.

I don't know if Chuck Schumer passed along my thoughts on regulating the financial markets, but as I've mentioned here, your choice of Mary Shapiro was a great one! I don't care what some of those naysayers are saying. Hey, she was smart enough to put Mark on one of her committees, and I'm sure that he, or Andy would be happy to serve in any way they can.

Well, maybe they don't want to serve in any way. Ira, did I use the wrong phrase?

Next: Clawbacks. I'm reading that some of our investors are very concerned about the topic of clawbacks. Let me say this about that: lots of people seem to be unnessarily worried, including some of the people at Oak Ridge Country Club in Minneapolis.

Its usually too f--king cold for me to go to Minneapolis, but the best place for claws (lobster and crab) is Stella's. I haven't been there in a long time, and its not as fancy shmancy as The Oceanaire , but the food at Stella's is always great. And, since I've heard that some of the people at Oak Ridge are scaling back, Stella's is perfect for anyone that's looking to budget on only $15,000k a month. And, Stella's has all kinds of online coupons. I just checked.

How do I know its good?? Because a very smart lawyer in Minneapolis whose name is Keith Hanratty wrote in to me tell me about defending against clawbacks, and he had some smart thoughts. Then we talked about food.

I'm not a lawyer, and right now Ira is defending me against some other stupid charges, so if Hanratty knows about clawbacks, then he deserves a mention here. If anybody wants his private number or his email address, use the Ask Bernie a Question gadget on the right column.

Speaking of Ira--sure we've known each other a long time. He's got a lot of class. That comes in handy, especially when people are shouting about class actions.
How long has it been, Ira? Since we first got started with Frank and Mike, and those other ponzie shmonzie allegations?

Thank God Ira knows so much about me and alleged Ponzi schemes, right?

Full post as published by Bernard Madoff on January 20, 2009 (boomark / email).