What is Van Wyck Necklace?

The necklace that Linus and Freddie steal from the Van Wyck family safe, symbolizes excess. When Carney first discovers the necklace in his safe, he realizes the significance of the job. Then, when he shows it to Moskowitz, Moskowitz tells him there is nothing he can do to help. The necklace, therefore, is a symbol of Carney's limitations, those which he is reluctant to admit.