Yow! How far has the family of Walter Noel, the founder of Madoff feeder fund Fairfield Greenwich Group, fallen? Far enough that specious rumours are circulating about them getting kicked out of country clubs. And now they take a beating from the rumour-mongering ladies whispering to Tatler. (via: FT Alphaville)
One thing is certain. On both sides of the Atlantic the ‘fabulous Noels’, as they were simperingly known in society pages a few months ago, are beginning to find out who their real friends are. And, guess what? Those still taking their calls probably didn’t invest their nest eggs in FGG. The rest — like the yummy mummies currently cutting the Glamazons at the school gates — are having to lay off staff and lose the third car. Many are also reminding themselves that Walter Noel originated in Nashville, Tennessee, and the family is, therefore, no better than you’d expect.