Atlas Society: Feds Blame JPMorgan in Failure to Catch Madoff

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December 23, 2013

The New York Times headline leapt off the front page: “Criminal Action Is Expected for JPMorgan in Madoff Case.” According to a leak, the United States Attorney’s Office for the Southern District of New York, after considering a criminal indictment, is about to extract $2 billion in penalties and a deferred prosecution agreement from JPMorgan. Why? For failure to provide adequate warnings about the $65 billion Bernie Madoff Ponzi scheme. Five years after Madoff’s arrest, he’s still making headlines and governments are still passing blame for their own miscue. Read More…

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