Madoff and JP Morgan: The Naked Partners in Crime Rezarte Vukatana, an expert in payment systems law, pointed out an article on the abysmal money laundering controls of JPMorgan re Madoff. “More than three months after Bernie was arrested, JPM’s computer system still generated its routine annual compliance certification on Madoff.” aroundwallstreet/2014/01/madoff-markers-that-jpmorgan-missed/ Reminds me that my favourite book in the world is Cervantes’ Don Quixote. If you don’t laugh out loud at least once every 2 pages, you don’t have a very good sense of humour. Full stop. For this reason, I think it is also one of the most therapeutic books around. There is something that comes to a close modern equivalent published as a complaint in the law on April 1, 2009 (how appropriate!): Administrative Complaint by Office of the Secretary of the Commonwealth of Massachusetts against Fairfield Greenwich (assetsearchblog/uploads/file/FairfieldComplaintPart1.pdf) If you are feeling lousy because the administrators in the skynet have beaten you into a temporary submission, you might consider pulling this paper out and reading it. I found myself howling in laughter and almost wetting myself, practically falling off my chair—Madoff was just a suit, tie, combed backhair and a liar who threw his own Jewish people under a bus. Unless you are a level one socio-path, you cannot believe the level of straight in your face duplicity Madoff and his gang of thieves were up to. JP Morgan has settled by paying $2.6 billion in the Bernie Madoff affair. They got off lightly.
Posted on: Tue, 28 Jan 2014 13:19:16 +0000
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