The trustee… having for more than three years issued empty threats to seek a halt to the attorney general’s suit, has lost his right to complain. Even on the merits, moreover, his bluster proves to be without substance.
— Judge Jed Rakoff(Opens in a new window) (S.D.N.Y.), issuing a harsh benchslap to Irving Picard(Opens in a new window), the trustee involved in the Bernie Madoff case, for trying to block a settlement(Opens in a new window) he wasn’t involved in between J. Ezra Merkin and New York Attorney General Eric Schneiderman(Opens in a new window).