Before Bernard L. Madoff was charged with stealing billions of dollars from his clients, and before he received a 150-year prison sentence for those crimes, JPMorgan Chase missed its chance to warn federal authorities about his Ponzi scheme. On Tuesday, five years after Mr. Madoff’s arrest set off a panic on Wall Street and in Washington, Mr. Madoff’s primary bank received a punishment of its own. More in the New York Times here.
