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Recent Posts
- The Professor Who Wrote the Seminal Book on Wall Street Megabanks Calls Today’s Financial System “Dangerously Unstable”
- Gold Has Set Historic Highs this Year as the Federal Reserve Has Reported Historic Losses
- Stanford Finance Professor Anat Admati Is Making Jamie Dimon Very Nervous – Again Calling His Bank “Dangerous”
- Jamie Dimon Dumped $150 Million of His JPMorgan Stock in February; Now He Says His Regulators Want 25 Percent More Capital at his Bank
- The Black Swan Rears Its Head: The Fed Has Negative Capital Using GAAP Accounting
- New York Fed Will Not Confirm or Deny that 5-Count Felon JPMorgan Chase Is Custodian of $2.4 Trillion of Its Securities
- For the First Time in History, the Fed Is Reporting Billions in Losses Weekly; It’s Still Paying High Interest Income to the Mega Banks on Wall Street
- There’s a Revival of the Dotcom-esque Froth in Today’s Markets; Cathie Wood Is Standing in for Henry Blodget and Jack Grubman; Nasdaq Is Playing Nasdaq
- Study Finds Wall Street Mega Banks Have Overstated Income for Years on Commercial Real Estate Loans They Sell to Investors
- Jamie Dimon Huddles in Private with Biden Bigwigs as His Bank Faces More Crime Charges
- Report: Five Banks Have a Combined Half Trillion Dollars in Commercial Real Estate Loans; Number 1 is JPMorgan Chase
- Billionaire Larry Fink of BlackRock, Which Grabbed Fed Bailouts in 2020-2021, Lectures Struggling Seniors on Making More Sacrifices
- Almost 10,000 U.S. Banks Have Disappeared Since 1985, Leaving 4 Mega Banks Controlling 39 Percent of Bank Assets
- Wall Street’s Go-To Law Firm, Sullivan & Cromwell, Got in Bed with Crypto; Now Its Reputation Is Being Hammered
- More Failed Banks and Office Building Demolitions Likely Before Real Estate Problems End, Warn Two Federal Agencies
- During Spring Bank Panic of 2023, Liquidity Advances from FHLBs Topped Those of Q4 2008, when Wall Street Was in Collapse
- JPMorgan’s Federally-Insured Bank Is Fined $348 Million for Losing Track of “Billions” of Trades
- Hedge Fund Titan John Paulson Made $1 Billion in an Illegal Goldman Sachs Deal; Trump Is Now Floating Him for Treasury Secretary
- Wall Street Mega Banks Have Drawn a Law-Free Zone Around Themselves – The Media Is Complicit
- A Financial Writer at New York Times Admits He’s Been Misrepresenting Bank Capital for 14 Years
- FDIC Data Contradicts Fed Chair Powell: Shows Real Estate Problems Have Skyrocketed at Largest U.S. Banks, Not the Smaller Regionals
- Senator Elizabeth Warren Calls Fed Chair Powell “Weak-Kneed”; Says He Is “Driving Efforts Inside the Fed” to Gut Higher Capital Requirements
- Steve Mnuchin, Trump’s Treasury Secretary/Foreclosure Kingpin, Joins with Hedge Fund Guys to Grab a Teetering, Federally-Insured Bank for $2 a Share
- Wall Street Mega Banks Have Created a Circular Firing Squad with Credit Derivatives and Capital Relief Trades – with the Fed’s Blessing
- New York Community Bancorp Was JPMorgan’s Top Regional Bank Pick for 2024; It’s Lost 73 Percent Y-T-D and Had Its Deposit Rating Downgraded to Junk
- Watchdog, Better Markets, Investigates the Bank that Has Lost 65 Percent of Its Market Value in Two Months and Was Downgraded to Junk by Moody’s
- The Fed Pretends to Send a Warning to Wall Street’s Mega Banks on Derivatives and Counterparty Risk
- $87 Million Buys This for Jamie Dimon: David Boies Can’t Utter the Words “JPMorgan Chase” in a Jeffrey Epstein Sex Trafficking Case
- Jamie Dimon and Nine of His Top Executives at JPMorgan Chase Have Dumped Over $150 Million of their JPMorgan Stock in Last Two Months
- These Charts Reveal Why the Fed Is Frightened about Capital Levels at the Wall Street Mega Banks
- Wall Street Law Firm Sullivan & Cromwell Gets Sued Over Allegations It Aided and Abetted the FTX Crypto Fraud
- JPMorgan Says Its “Trading Venues” Are Under Investigation While It’s Still on Probation for Prior Trading Crimes
- Jamie Dimon Is Desperate to Pin the Jeffrey Epstein Scandal on Jes Staley; Bloomberg News Is Carrying His Water — Again
- Citigroup Is Having a Very Bad Week; Regulators Are Breathing Down Its Neck
- Five Wall Street Banks Hold $223 Trillion in Derivatives — 83 Percent of All Derivatives at 4,600 Banks
- Jamie Dimon’s Statement Last Month that Trump “Was Kind of Right About NATO,” Sounds Even More Unhinged Today
- S&P 500 Sets a Record on Wednesday as Banks Continue Tanking
- NYCB Downgraded to Junk; Shocking Charts for Citigroup, Barclays and Deutsche Bank
- Reporters Who Ask Tough Questions at Fed Press Conferences Have a Habit of Being Disappeared from the Room
- Jamie Dimon Has Spent $117 Billion Propping Up JPMorgan’s Share Price with Buybacks in 10 Years; He’s Counting on Trump’s MAGA Crowd to Rescue Him
- Bank Fraud Enters a New Era: Bank-to-Bank Wire Transfers Loot Customers
- Senator Sherrod Brown Takes on the Fed’s Support of Wealth Stripping the Middle Class
- JPMorgan Chase Has Used the Same Auditor for 58 Years, Despite Giant Frauds at the Bank in the Last Nine Years
- The Fed Has a Dirty Little Secret: It’s Been Allowing the Wall Street Mega Banks to Calculate their Own Capital Requirements
- The Battle Over Capital at the Mega Banks Must Expand to Breaking Them Up
- Robert Kaplan Was Heavily Trading on May 1, 2020; One Day After a Fed Blackout Period and the Same Day He Made a Shocking Prediction on TV
- Naming Names: Professor Exposes the Banking Cartel that Has Hijacked U.S. Democracy
- A Fed Whistleblower Reveals Efforts to Silence Him 30 Years Ago
- The DOJ’s Incestuous Relationship with Jamie Dimon Is Captured in a Graphic from an Historic Lawsuit
- Everything that’s Dangerous about U.S. Banks Today in One Highly Readable Book
Search Results for: clifton
A Sam Bankman-Fried Company Loaned or Invested More than $1 Billion in Clients of its Law Firm, Sullivan & Cromwell
By Pam Martens and Russ Martens: January 17, 2023 ~ In a January 12 Substack column penned by Sam Bankman-Fried, the indicted co-founder and former CEO of collapsed crypto exchange, FTX, he writes that “When I would visit NYC, I would sometimes work out of S&C’s office.” S&C is shorthand for the 144-year old Big Law firm, Sullivan & Cromwell, which has come under withering media attention for attempting to steamroll its way into the position of lead counsel in the FTX bankruptcy proceedings – including investigating its own conduct as outside counsel to Sam Bankman-Fried and his byzantine collection of crypto companies. Wall Street On Parade has been covering the mushrooming conflicts of interest held by Sullivan & Cromwell since two days after FTX (and its herd of more than 100 related companies) filed their Chapter 11 bankruptcy petition on November 11. Today, we will shine an even brighter light … Continue reading
Here’s How the Fake Unemployment Number Was Created to Subdue Anger Against Wall Street
By Pam Martens and Russ Martens: January 17, 2020 ~ On February 3, 2015, Jim Clifton, the Chairman and CEO of the iconic 85-year old polling company, Gallup, penned an article for his company in which he called the reported unemployment number issued by the U.S. Government “The Big Lie.” Wall Street On Parade has now discovered that a speech by former Fed Chairman Ben Bernanke and a statement made by the current Fed Chairman Jerome (Jay) Powell, support the view that today’s reported unemployment rate of 3.5 percent is statistically impossible based on a long-held economic model known as “Okun’s Law.” Named after economist Arthur Okun, the economic law works like this according to a speech given by the Fed Chair Ben Bernanke in March 2012: “Okun noted that, because of ongoing increases in the size of the labor force and in the level of productivity, real GDP growth … Continue reading
Gallup Polls Show America Is Dangerously Moving in the Wrong Direction
By Pam Martens and Russ Martens: April 26, 2019 ~ The Gallup polling organization was out with another new study yesterday that shows America is dangerously heading in the wrong direction. Gallup’s latest poll found that Americans were more likely to be stressed and worried than much of the world. The 55 percent of Americans who said they had experienced stress the prior day was one of the highest rates out of the 143 countries studied. The global average was 35 percent. With a 55 percent stress rate, the U.S. now ranks even with Albania, Iran and Sri Lanka. Only Greece, the Philippines and Tanzania rank higher at 59, 58 and 57 percent respectively. The highest stress levels were reported among Americans aged 30 to 49, where 65 percent reported experiencing stress the prior day. The figure was just one percent lower for Americans aged 15 to 29, where 64 … Continue reading
Gallup Survey: Global Image of U.S. Plunges During Trump Administration
By Pam Martens: March 4, 2019 ~ In what has to be the most diplomatic understatement of the year, Jon Clifton, the Global Managing Partner of the polling organization, Gallup, had this to say with the release of the company’s 2019 “Rating World Leaders” report: “The image of U.S. leadership abroad is not good right now.” In reality, the U.S. had a 48 percent global approval rating in President Obama’s last year in office and that rating plunged to 30 percent in Trump’s first year in office. It now sits at 31 percent median approval across the 133 countries surveyed by Gallup. One of the most dangerous takeaways from the new Gallup report is that our closest allies think so little of the U.S. right now. The report notes that “Regionally, the image of U.S. leadership fared worst in Europe, where approval remained low and stable, dropping one percentage point … Continue reading
If You’re Looking for Private Capital for Your Business, This Book’s for You
By Pam Martens: January 28, 2019 ~ There’s a new book coming on February 5 from the HarperCollins Leadership imprint – and it’s a critical subject for every American, even if you’ve never before thought about starting your own business. That’s because America is losing its dynamism in creating new businesses, as we’ll discuss later in this article. Written by Judy Robinett, Crack the Funding Code: How Investors Think and What They Need to Hear to Fund Your Startup is the how-to guide for young business owners to tap into private capital sources like angel investors or venture capitalists. There are key sections in the book on how to find the people who can help you, how to write a solid business plan, financial statement and projections, and a compelling pitch. Equally important for the unsophisticated but creative entrepreneur, the book offers sound advice on hiring a lawyer to evaluate … Continue reading
Despite Record Levels, the Stock Market Is Actually Shrinking in Size
By Pam Martens and Russ Martens: December 20, 2017 Like that box of macaroni in your kitchen cupboard, the U.S. stock market has become a lot more expensive but has actually shrunk in terms of quantity. In 1975, U.S. domestic companies that traded on U.S. exchanges totaled 4,819. Forty years later, the market has shrunk to less than 4,000, despite a tripling in GDP. If you take a shorter time span of 20 years, which included the dot.com craze of listing companies known to Wall Street insiders as “crap” and “dogs,” the numbers are worse. In September of last year, Jim Clifton, the Chairman and CEO of Gallup, the polling company, reported the following: “The number of publicly listed companies trading on U.S. exchanges has been cut almost in half in the past 20 years — from about 7,300 to 3,700. Because firms can’t grow organically — that is, build more business … Continue reading
Here’s How the Unemployment Rate Dropped Last Month While U.S. Lost 33,000 Jobs
By Pam Martens and Russ Martens: October 6, 2017 This morning’s September jobs data from the Bureau of Labor Statistics (BLS) does not actually capture the extent of the economic misery in the U.S. mainland last month. The data showed a stunning loss of 33,000 jobs (the first time the U.S. has had a negative figure since 2010) while simultaneously reporting that the unemployment rate dipped to 4.2 percent from 4.4 percent in August. But here’s the quirky thing about how the U.S. government counts people as being employed: according to the official web site of the U.S. Department of Labor’s Bureau of Labor Statistics, an individual can be counted as employed even if they didn’t receive a dime in salary during the week the data is collected. The BLS explains its rationale as follows: (Italic emphasis added.) People are considered employed if they did any work at all for pay … Continue reading
Three Critical Steps to Making America Great Again Are Not on Trump’s Agenda
By Pam Martens and Russ Martens: August 23, 2017 In 1996 the U.S. had 845 Initial Public Offerings. Last year, after twenty passing years of research and budding new technologies should have fueled growth in the IPO market, the U.S. had a paltry 98 IPOs. According to a study by the law firm, Wilmer Cutler Pickering Hale and Dorr, gross proceeds from IPOs in 2016 were $18.54 billion while the “average annual gross proceeds for the 12-year period preceding 2016 were $35.73 billion — 93 percent higher than the corresponding figure for 2016.” Not only has the U.S. seriously lost ground in IPOs but the total number of publicly traded companies in the U.S. is down by almost half in the same 20 year span. Last September, Jim Clifton, the Chairman and CEO of Gallup, the polling company, explained why he thinks this is happening. Clifton wrote: “The number of publicly … Continue reading
Trump’s Immigration Ban: Americans Can Listen In on Court Hearing Today
By Pam Martens and Russ Martens: February 7, 2017 While President Donald Trump is proving himself to be a divider not a uniter, the Attorneys General of Washington State and Minnesota are getting the unity job done. Their case against the President’s ban on immigrants entering the U.S. from seven majority Muslim nations – even those holding valid visas and, sporadically, legal permanent residents with valid green cards – has been a clarion call to fellow citizens to stop Trump now before his Executive Orders come for their own rights. On Friday, Judge James Robart blocked Trump’s order nationwide. The case is now under appeal at the Ninth Circuit Court and the docket already has 92 entries. Constitutional scholars, law professors, more than a dozen nonprofits, almost 100 tech companies, and 16 Attorneys General from other states are asking the court to keep Judge Robart’s order in place. The public … Continue reading
What’s Really Behind America’s Slumping GDP Growth?
By Pam Martens and Russ Martens: December 16, 2016 On December 6, the Gallup organization together with the U.S. Council on Competitiveness published a jolting study demonstrating that the pervasive sense among Americans that the U.S. is in economic decline isn’t imagined. It’s real and it’s dangerous. The study was conducted by Gallup’s Senior Economist, Jonathan Rothwell, with other Gallup experts and external scientists serving as reviewers to “ensure statistical and theoretical accuracy and objectivity,” according to Gallup Chairman and CEO Jim Clifton. The problem, in a nutshell, is this: real Gross Domestic Product (GDP) per capita ran at a rate of 2.4 percent per year from 1929 to 1979. But since 2007, real GDP per capita has been a negligible 1 percent. Since the depths of the Wall Street crash in 2009, it has been a paltry 1.4 percent. (GDP per capita is the value of all goods and … Continue reading
