Word: partnerized
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...Overcoming the sovereign-immunity protection is the biggest hurdle, concurs David Bernfeld, a partner at Bernfeld Dematteo & Bernfeld LLC, who represents about a dozen Madoff victims. However, he believes the inspector general's report offers enough ammunition to prove negligence - which is the bullet needed to pierce the sovereign-immunity defense and make the SEC liable...
...However, Jim Rickards, a senior managing partner at Omnis Inc. and a former general counsel for Long Term Capital Management who helped negotiate a federal bailout for the failed hedge fund in 1998, isn't so sure the report's findings will be enough to make the SEC liable...
...David Schindler, a partner at Latham & Watkins who specializes in white collar and government investigations, says "human frailty" will always be a factor, and that would hold true even if tougher regulations and oversights had been in force over the past decade. "When you're a regulator and you get an allegation of wrongdoing [regarding] somebody who occupied the position in Nasdaq that Madoff did at that time, the human condition is such that it might be hard for somebody to start investigating or shooting at someone of his stature [knowing that] if they're wrong, their career and others...
...Lots of people lose lots of money due to frauds every year - and so aside from the magnitude of the fraud, it's difficult to find a justification to treat Madoff's victims different than the victims of the Worldcom fraud or Enron," says Chris Clark, a partner at Dewey & LeBoeuf LLP. "I don't mean to sound unsympathetic, but it's difficult for me to imagine that Congress would legislate relief for one group of aggrieved investors when people lost billions of dollars in Lehman Brothers. Are they going to pass a statute that says you get your money...
...study's author Meredith Young, a cognitive psychologist, says the social comfort of a same-sex lunch partner probably makes a difference - but evolutionary instincts are also at play. The women are using food as a signal of attractiveness. "In past studies, when you compare the exact same woman either eating a meatball sub or a dainty salad, people find the salad eater more alluring and more desirable as a friend," she says. Young thinks that men, on the other hand, are probably focused on spending more money on the food instead of eating it, because evolutionary biology says that...