Fred Wilpon

* Due process, judicial process, yeah, yeah, same difference. Not so, says Attorney General Eric Holder — especially when it comes to assassinating killing Americans abroad. [Blog of Legal Times]

* Now that BP has settled claims made by private sector plaintiffs, state and federal government lawyers are getting ready to wait “months, not weeks” for their new trial date. [Financial Times]

* Newt Gingrich wants his “Eye of the Tiger” copyright infringement suit to be dismissed. Listen, judge, if he can’t play this song, we won’t get our moon base or cheaper gas. [The Caucus / New York Times]

* As if being a Mets fan wasn’t bad enough on its own, Judge Jed Rakoff has struck again. He refused to dismiss Irving Picard’s lawsuit, and now the team’s owners must go to trial over millions. [Businessweek]

* Lawyers from Milberg will be joining Paul Ceglia’s legal team. They must not have checked this dude’s Facebook timeline — this is the the fifth firm to sign up for a Gibson Dunn sucker punch. [Bloomberg]

* Thanks to a decision by a three-judge panel of the Ninth Circuit, Jared Loughner will continue to be forcibly medicated. What better way to restore him to competency than to shove pills down his throat? [Reuters]

Judge Jed Rakoff appreciates a man who doesn't know what he's doing.

Don’t worry about investing in a Ponzi scheme as long as you are smart or lucky enough to recoup your money before the whole thing falls apart. That is the upshot of U.S. District Judge Jed Rakoff’s decision to significantly limit the amount of money trustee Irving Picard can seek from New York Mets owner Fred Wilpon.

It’s a huge decision. Because a professional sports franchise is involved (and I’m using the term “professional” very loosely when talking about the Mets), how this impacts Wilpon and the team on the field will dominate most of the headlines and discussions about the ruling.

But make no mistake, Judge Rakoff’s ruling will have a major effect on how much money is ever recovered for victims of Madoff’s shenanigans, and could have an effect on the future liability for all investors in Ponzi schemes….

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* Not a wardrobe malfunction, my ass. Nancy Grace would sooner allow Casey Anthony to babysit her kids than admit that she had a nip slip on live television. [New York Post]

* When you have a “superior legal mind,” it’s easier for your feelings to get hurt. Gregory Berry now claims that Kasowitz Benson was “extraordinarily vindictive.” [Thomson Reuters News & Insight]

* Irving Picard’s suit against Fred Wilpon and Saul Katz has been dismissed (for the most part). This is the best thing to happen to the Mets since Bill Buckner. [Bloomberg]

* In the past, when a wife cried in Massachusetts, a judge would wipe her tears with her husband’s checkbook, but alimony just ain’t what it used to be. [New York Times]

* Apparently judges in San Luis Obispo, California have banged one gavel too many. They’ve been reaching verdicts outside the courtroom to pad their own benefits packages. [Legal Newsline]

* Florida International isn’t just dominating the University of Miami in football this year. FIU schooled Miami when it came to Florida’s bar exam results, too. [Miami New Times]

Fortunately, you gave me so much paper. Otherwise, I would have had to watch a Mets game, which would have been a very painful process.

– the eminently quotable Judge Jed Rakoff (S.D.N.Y.), praising the thorough briefing by lawyers involved in the legal battle between the Bernard Madoff trustee, Irving Picard, and the owners of the New York Mets, Fred Wilpon and Saul Katz.

Mr. Met gives me bad touches every summer.

I’ve been avoiding writing about Irving Picard, the trustee in charge of getting money for the victims of the Bernie Madoff Ponzi scheme, and his lawsuit against New York Mets owners Fred Wilpon and Saul Katz. It’s too painful. It’s like being close enough to see Oliver Perez’s face just as you know things are going to completely unravel but still hoping against hope that he’ll throw a strike. It’s like wondering if David Wright spends his nights crying softly while Mike Piazza texts him weekly updates on how many days he has until he’s an unrestricted free agent. I know what’s happening; I just don’t like to talk about it.

But, as we mentioned in Morning Docket, Picard’s massive complaint was made public today. He says Wilpon and Katz made $300 million in fictitious profits from business dealings with Madoff.

As you read through the allegations, try to remember how poorly the Wilpons make decisions about whom to hire, whom to fire, and how much to play baseball players — and then tell me if you are at all surprised by anything here…

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