Sunday, February 6, 2011

JP Morgan and Madoff

http://blogs.reuters.com/felix-salmon/2011/02/04/three-takes-on-jp-morgan-and-madoff/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+felix-all+%28Felix+Salmon+-+All+%28Reuters+%2B+FS.com%29%29&utm_content=Google+Reader

This article raises questions about the relationship between JP Morgan and the Madoff Ponzi scheme. JPM is being sued by The Trustee who is trying to recover money for those who suffered losses. The article refers to the specific page in the suit that implicates JPM. There is also a link to an article by Peter Goodman who states this is consistent with the changes on Wall Street since the dot.com boom. He argues that they are no longer banks and have become casinos that get a cut on every bet.

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