So you’d assume that JPMorgan, in the wake of the disastrous hedging fiasco at their Chief Investment Office (CIO), would put a lot of thought into whom they’d entrust with the unwind and clean-up.
And you’d have assumed wrong, at least based on the surface…
Headline from TheStreet.com:
JPMorgan’s New CIO Tied to Madoff, U.S. Treasury, LTCM
That’s Dan Freed’s headline this morning but when you actually read the story, it’s not as bad as it sounds. But it does sound very, very bad. Psychotic even.
Click over (if you dare) for the story: