"Bernie Madoff committed the biggest financial crime in history, stealing $64.8 billion from tens of thousands of innocent people. But to carry out criminal activity on this scale, he needed a major bank to service his needs and conceal his criminal activities. The corrupt bankers at JPMorgan Chase decided to enrich themselves at the expense of innocent customers. They looked the other way for years, while having free use of Madoff's multi-billion dollar deposit balances"--Back cover.
We live in a society where a seventeen-year-old kid who robs a 7-Eleven of three hundred dollars goes to jail in a police van, while a thirty-four-year-old Wall Street banker who steals $1 billion from customers goes to Greenwich in his limousine.
A striking example of this state of injustice is the story of the illicit collaboration between Bernie Madoff and JPMorgan Chase. JPMadoff,written by the lawyers who represent 1,600 of the customers robbed by Bernie Madoff, offers a thoroughly documented account of the illegal conduct of the officers of JPMorgan Chase who watched, for years, as Madoff committed financial crimes. Why? Because they had the free use of Madoff’s billions of dollars of deposits. But this was not the only crime committed by officers of JPMorgan Chase. As the books lays out, JPMorgan Chase has become, like the Mafia, an institution that derives a substantial portion of its profits by violating the law.
Fans of Bernie Sanders, Liz Warren, Pam Martens and Matt Taibbi will appreciate this factual exposition of the long-standing corruption and criminal activity deep inside the institution of JPMorgan Chase and the utter failure of the Obama administration to prosecute criminal bankers.
