JP Morgan is in the sights of the Get Madoff crowd. While the bank had a small amount ($250 million) of its own money in the game, it pulled it in September after a summer of rumors about Bernie. JP forgot to tell its clients, though, and they were left high and dry. Sort of like Walt Noel and his Fairfield Greenwich Group, but I believe they’re already named in this suit. Should continue to get interesting as this latest inclusion of a defendant is the result of the 4 1/2 hours Bernie spent talking with the lead litigator. Nervous yet, Walt?
By the way, why is the New York Post on top of the Madoff story while the New York Times and the Wall Street Journal ignore it? Just because a story is sexy and has legs is no reason to leave the field to the Post, is it?