On September 23, 2008, Gerard LaRocca, a senior executive at Barclays Capital, the investment bank, got an emergency phone call from one of his employees in the bank's operations department. The employee was looking at Barclays' bank statement from its account with JPMorgan. There had been $7 billion in the account, and the employee had been authorized to move the cash from JPMorgan to the Bank of New York, which was Barclays' regular, or custodial, bank.
But now the money was gone.
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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