Bernard Madoff

Why The Erosion of Public Trust? Here’s Why

by Diane Dimond on January 13, 2014

Why Aren’t Bad Bankers Held Liable Too?

If you robbed a bank and got caught you would go to jail, right?

If you waited in the getaway car while your cohort robbed the bank you would go to jail as an accomplice, right? Of course you would.  That’s what the law mandates. 

So how come, after a bank stands mute as customers are robbed, do they get “deferred prosecution?”

I ask these questions after this week’s decision by the feds to merely fine JPMorgan Chase for failing to report their very real suspicions about mega-fraudster Bernard Madoff. No criminal charges, no one is held responsible and faces jail time – just $2.5 billion in fines and penalties for an organization, that experts say, will likely make as much as $23 billion in profit this year.

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Madoff’s Legacy of Shame

by Diane Dimond on March 20, 2009

Inmate Number 61727054

Inmate Number 61727054

Bernard Madoff, a man surrounded by billions of dollars over his long career now has a new number in his life: 61727054 – his inmate number. And it’s very likely, at 70 years old, he will be an inmate until the day he dies.

Now that the dust has settled on the country’s largest ever financial scam it’s time to take a look at the man himself and how the heck he got away with it…. [click to continue…]

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