The June edition of coin dealer Franklin Sanders' newsletter, The Moneychanger, has a wonderful interview with financial writer Helen Davis Chaitman, who says that JPMorganChase knew very well that Bernie Madoff's investment fund was a Ponzi scheme but provided Madoff with banking services anyway because he parked between $3 billion and $6 billion at the bank, which the bank was able to use for its own purposes.
Chaitman, author of the book "JPMadoff: The Unholy Alliance between America's Biggest Bank and America's Biggest Crook" --
-- says JPMorganChase is a "criminal institution," an observation market analyst and author James G. Rickards made last week during his appearance on Russia Today's "The Keiser Report." Rickards called JPMorganChase "one of the great criminal enterprises of all time," since the bank has confessed to many illegal operations and has paid billions of dollars in fines:
Chaitman and Rickards don't seem to have explained why the investment bank keeps getting away with this stuff, but GATA maintains it's because the bank often acts as the agent of the U.S. government in rigging markets -- that JPMorganChase is essentially a U.S. government agency. (Or maybe the U.S. government is a JPMorganChase agency.)
Sanders has kindly given GATA permission to share with you his interview with Chaitman. His letter is posted in PDF format at GATA's Internet site here --
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