JPMorgan Chase to pay $2.5 billion in penalties tied to Bernie Madoff’s $65 billion scam

JPMorgan Chase agreed to a record $2.5 billion in penalties Tuesday in a deal that spared its executives any chance of jail time in Bernard Madoff’s $65 billion Ponzi scheme.

But in a different courthouse — just a couple of hours after the deal was announced — a small-business owner was sentenced to four years in prison for duping a wealthy investor. The disparity reads like a tale of two cities.

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Banksters still don’t go to jail for their crimes. But that’s gonna change.


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Pointing my finger on the brighter spots. We win, and winning is fun.

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