Tuesday, 16 September 2014
Last updated 2 hours ago
Dec 16 2013 | 10:39am ET
The Feds have one man to thank for their upcoming $2 billion settlement with JPMorgan Chase over the bank's failure to alert regulators to Bernard Madoff's Ponzi scheme. And that man, according to none other than Bernard Madoff, is Bernard Madoff.
Madoff told CNBC's Scott Cohn that he gave "key information" to the U.S. Treasury's Inspector General's office that was used by federal prosecutors in New York to build their criminal case against the bank, which Madoff used for decades. It isn’t clear what, if any, validity Madoff's claim has.
JPMorgan is nearing a deferred-prosecution agreement with prosecutors under which it would admit it failed to file a required suspicious activity report just before Madoff's fraud collapsed in 2008. The bank had filed a similar report, citing red flags in Madoff's operations, with British regulators.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?