Yesterday JPMorgan was ordered to pay yet another fine to atone for its bad behavior, this time for its role as an enabler of Ponzi scheme master Bernie Madoff. Since 2009, JPMorgan has paid more than $30 billion in fines for various misdeeds. That kind of consistent misbehavior is no accident.
Chicago Board Options Exchange
- How I Know JPMorgan (NYSE: JPM) Was Complicit in the Biggest Ponzi Scheme Ever
- Why the Volcker Rule Is Now 233% Longer
The 2010 Dodd-Frank law was conceived with the best of intentions - curb the bad behavior of the Too Big to Fail banks that caused the 2008 financial crisis. Front and center was the Volcker Rule, which was to stop the banks' risky and dangerous proprietary trading. Three years later the Volcker Rule has yet to see the light of day,