The Madoff settlement is an enormous win for a guilty JPMorgan – latimes.com

Let’s get a few points straight regarding the federal government’s “big” $2-billion-plus settlement with JPMorgan Chase over the bank’s complicity in the Madoff case.

— First, JPMorgan, where Madoff kept his major bank accounts and which profited handsomely off its relationship in numerous ways, knew Madoff was crooked. Bank executives had him figured out as early as 1998 — possibly earlier — or 10 years before his arrest and public exposure as the mastermind of a record-breaking Ponzi scheme.

via The Madoff settlement is an enormous win for a guilty JPMorgan – latimes.com.