Sublime

While the firm did employ a well-regarded chief risk officer, Madelyn Antoncic, who had a PhD in economics and had worked at Goldman Sachs, her input was virtually nil. She was often asked to leave the room when issues concerning risk came up at executive committee meetings, and in late 2007, she was removed from the committee altogether.

When talking of the most important things in his life, he once said, “My family, humanity, my country, and the world. And way down here is J.P. Morgan.”

In the last analysis, it seems certain that Kennedy, Stephen, Hill, and Kittson did offer Farley a substantial reward—maybe even hinting at a full partnership—in return for his cooperation and betrayal of his trust.