Categorized | General Interest

Jamie’s Daily Crime Blotter

It just hit me how we can make money off of Jamie Dimon — it’s a *weekly* crime show, or even a reality show. Because every day you wake up you’d have new material for the show. Seriously. Like today.

Just after cutting a deal that will apparently cost JPMorgan $13 billion, the ghost of Bernie Madoff (remember him) rises out of Jamie Dimon’s shadow:

Federal authorities are preparing to take action in a criminal investigation of JP Morgan Chase, suspecting that the bank turned a blind eye to Bernard L. Madoff’s Ponzi scheme.

The Madoff case, coming on the heels of a tenative $13 billion settlement over JPMorgan’s mortgage practices, poses another major threat to the reputation of the nation’s largest bank.

Reflecting the magnitude of the investigation, prosecutors and JPMorgan have held preliminary discussions about a so-called deferred prosecution agreement, people briefed on the inquiry said. Such an arrangement would suspend criminal charges against JPMorgan in exchange for a fine, certain other concessions and an acknowledgment that the bank will face charges if it fails to behave. Prosecutors may also require JPMorgan, which has repeatedly said that “all personnel acted in good faith” in the Madoff matter, to hire an independent monitor.

Dimon is worth a serious investment. Not in his financial acumen or as CEO. Nope — he’s a TV show.

One Response to “Jamie’s Daily Crime Blotter”

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  1. […]  The bank is still being investigated for turning a blind eye to Bernie Madoff’s Ponzi scheme because, well, Madoff made them a lot of money so why should Dimon have […]


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