When Bernard Madoff's investment firm collapsed in history's biggest Ponzi scheme more than two years ago, Irving Picard was appointed to the daunt-ing job of trying to collect some of the $65 billion purportedly in customer ac-counts. Now, with about $10 billion in hand, Picard may be on his way to re-covering the $20 billion in principal he estimates was lost to Madoff. And as he pursues hundreds of lawsuits seeking $100 billion from banks and others he claims profited from the fraud, he may be able to give some victims something Madoff never even tried to deliver-a return on their investment.
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