Yesterday's Dec 12
www.citizen.com had another article about the Financial Resources Mgmt of Meredith ponzi scheme and spoke about clawbacks.
What is a clawback? That's where the US bankruptcy court that's now in charge of cleaning up this financial mess seeks to get FRM investors to give back their interest payments received.
And, how do you like them apples....just imagine that. First as a trusting investor you find out that your principal money invested is gonzo, and now the court says for you to repay your old high 15% interest received.
Not a happy ending in sight here, except of course, for the attorneys, as it is all billable hours to them.......what's a good lawerly phrase here for how they work.....litigate & collect.....churn & burn....file a motion & buy a Volvo.....adjudicate & think waterfront.....'listen to your client sing & go buy girlfriend a big fat diamond ring'.......hmmmm.....got to be some better phrases out there than these......? ...
