Bernie Madoff may be preparing to shuffle off this mortal coil but Walter Noel is still golfing in the Hamptons, resting up, no doubt, for his hearings in Boston that commence September 9th. But now comes news that investors who lost money with Bernie are suing the feeder funds that fed Walter and Fairfield Greenwich Group who in turn fed Madoff. The first out of the box is a suit against something called Chartered Investments (or something like that). The first thing someone like Chartered will do in a situation like this is to implead – sue – Fairfield, saying, in effect, “if we’re responsible for our clients’ losses, then you’re really to blame, because we relied on your due diligence, which you didn’t perform.” I don’t know if this will add to the $7.5 billion FGG admits it lost to Madoff, but it’s certainly going to add to its legal fees. I wonder whether Andres has found a buyer for that yacht yet?