$49,900,000,000 to go

Feds move to seize Madoff assets. Despite last week’s news stories about Madoff being worth $800,000,000, $700,000,000 of that was the value of Madoff Securities which is worth, maybe, $10,000,000. There might be a hundred million of yachts, real estate , antique silver and a piano to grab, and that includes the cash and securities Ruth Madoff claims is hers to keep. It’s the cardboard palace for you, Ruthie, unless the feds are successful in switching you to concrete and steel housing.

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