Sunday, March 15, 2009

On Chase Being on the Line for Madoff

Josh Marshall, Talking Points Memo: From TPM Reader MM...
Granted they were different banks (North Fork vs. Chase), but you gotta love that Eliot Spitzer's transactions of a few thousands of dollars here and there raised alarms, led the bank to report them to the Feds, and resulted in wiretaps of Spitzer. Bernie Madoff's transactions of billions of dollars back and forth? Nah, nothing to see here; perfectly normal!
Not that it's a defense of Spitzer. But it does raise very serious questions about JP Morgan/Chase's behavior with Madoff. More on that here.

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