GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Tuesday, January 7, 2014

JPMorgan to Pay $1.7 Billion Settlement Over Role in Madoff Case

JPMorgan Chase has officially settled with federal authorities over criminal charges that the bank ignored warning signs of Bernard Madoff's $65 billion Ponzi scheme. The bank will pay $1.7 billion to settle the claims, which authorities say is the largest bank forfeiture in history -- and the largest penalty by the Department of Justice for a Bank Secrecy Act violation. As part of the agreement, JPMorgan acknowledges its wrongdoing and must reform its anti-money laundering policies. In exchange, criminal charges against the bank will be deferred for two years.

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