The colloquy was also concerned with whether the Trustee has discretion to calculate net equity on the basis of what Madoff actually did as shown in hindsight by the books and record section but was unknown to innocent victims when it was happening, or whether the Trustee must use the final statement method in order to carry out the purpose of protecting innocent victims. And, though our lawyer surprisingly agreed that Congressional purpose was not pertinent when in fact it is crucial and when the language of statute must be interpreted in light of Congressional intent, she did say, very importantly, that the purpose of protecting victims has to be honored and that SIPA cannot be thought to treat the customer's financial rights less favorably than other law -- such less favorable treatment, I note, would be antithetical to Congress' intent to protect investors.
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