The upshot here: after buying Bear Stearns in March of '08 (where Madoff had a long trading relationship), JP Morgan (nyse: JPM) execs smelled a rat and pulled all their funds from Madoff accounts. However, they allegedly failed to tell any of their clients to pull their funds, and these were clients who had invested with Madoff at JPM's recommendation. Not to mention that they didn't contact the SEC to report their suspicions. That's disgusting behavior. Now, several clients are suing.
Cody Willard and the rest of the Happy Hour crew on Fox (4:22).
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