Economy

By Pam Martens and Russ Martens: October 15, 2014

There is a new on-line book, JPMadoff: The Unholy Alliance Between America’s Biggest Bank and America’s Biggest Crook, being offered free as a chapter a month by attorneys Helen Davis Chaitman and Lance Gotthoffer. (Chaitman is a nationally recognized litigator who was swindled by Madoff and is passionate about getting an unabridged recital of facts out to the public, including details about the extensive involvement in the fraud by the big Wall Street bank, JPMorgan Chase, and Madoff clients that the authors believe to have been co-conspirators.)

Chapter 3 is now up on the web site and delivers this nugget: “Senator Schumer was a frequent visitor to Madoff in his office in New York’s Lipstick Building.” This information came to Chaitman in 2009 from Madoff employees and is confirmed by a 2014 interview with Madoff himself by Politico’s MJ Lee, indicating that Schumer paid personal visits to Madoff to collect campaign contributions.

more...
http://wallstreetonparade.com/2014/10/new-book-senator-schumer-was-regular-visitor-to-madoff-offices/


Book Foreword
This is a book about JPMorgan Chase. It is, therefore, a book about greed, corruption, arrogance and power. And it is also a book about Bernie Madoff. Few people realize the link between America’s biggest bank and America’s biggest crook. Our government, which knows about it and should be the most outraged, doesn’t care. Although it announced criminal charges against the bank for two felony violations of the Bank Secrecy Act, it simultaneously entered into a deferred prosecution agreement with the bank, suspending an indictment for two years provided that the bank complies with the law in the future.1 As if JPMorgan Chase, with its armies of high-priced lawyers, didn’t know how to comply with the 1970 Bank Secrecy Act in 44 years. It needs another two years to figure out how to comply with the law!

Our government did not require that a single JPMorgan Chase employee face criminal charges . . . or even lose his job. In deferring the indictment against the bank, the United States government may have feared that JPMorgan Chase is too big to fail. But surely JPMorgan Chase, with 240,000 employees, can survive without the handful of officers who sheltered Madoff from the law for 20 years and, as the bank has acknowledged, violated the law.2 Are these officers too rich to jail? How did we become a country where powerful employers can purchase immunity from criminal prosecution for their employees?

Since the government won’t protect you, the purpose of this book is to give you the information you need to protect yourselves: when bankers act like gangsters, you should treat them like gangsters, even if the government won’t. And the last thing you should do is trust them with your money.

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http://jpmadoff.com/foreword/