Detailed text transcripts for TV channel - MSNBC - 20111101:14:24:00
Presumably to some of the firms previously bidding on the whole company at fire sale prices. now in similar bankruptcies, in lehman brothers it took sipc only ten days to recover these accounts because the accounting was at least accurate. in the madoff case, the books were fictional. a source familiar with this process told me it should be more like the lehman time frame because the books aren't cooked so they think it's just figuring out to what trades this money was actually funneled toward. mf trades, client trades? it's really unclear and that's going to spark doubt about the volcker rule...
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