Re: MtGox withdrawal delays [Gathering]

The consensus here, as far as I can tell, seems to be that they won't ever open up any form of BTC or fiat withdrawals? All fiat deposited at Gox now will probably be used to pay Mark's legal bills?

That's why I've been arguing for putting Mt. Gox into involuntary bankruptcy in Japan. Someone in the legal forum is gearing up to do that.

Once that happens, a court-appointed receiver takes over control of all assets. Then, with full access to all Mt. Gox records, there's more hope of finding the "missing" Bitcoins. They're somewhere. With the FBI, the Tokyo Metropolitan Police, the Chief Cabinet Secretary of Japan, and the U.S. Attorney for the Southern District of New York all asking questions, they might well be recovered.

It took a while, but over half of what Madoff stole has been recovered.

quote about half of what madoff stole has been recoevered

Here's a bit of info on that
http://en.wikipedia.org/wiki/Recovery_of_funds_from_the_Madoff_investment_scandal

"There have been attempts for the recovery of funds from the Madoff investment scandal. Approximately $5.868 billion has been distributed to victims of Bernard Madoff through the agency of trustee Irving Picard."
"most victims will only receive roughly 34 percent of what Madoff stole, with only a handful being made whole"

We need Picard!

Some of that was clawbacks from investors that were belived to redraw investments and profits from Madoff unlawfully (knowing that he was insolvent).

Edit: Effectively, the losses were spread over more people than the eventual bagholders, but it was losses anyway.