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Recent Posts
- Trump’s Nominees Are Being Hand-Picked to Enact a Dangerous Platform the Koch Brothers Made Public 44 Years Ago
- Trump Makes Second Attempt to Install Wall Street’s Lawyer, Jay Clayton, to Oversee Prosecutions of Wall Street
- Trump Is President-Elect for Just 7 Days and a Sex, Drugs and Bribe Scandal Breaks Out
- Howard Lutnick, the Wall Street Billionaire Staffing Trump’s Cabinet, Hosted a Fundraiser for Hillary Clinton’s Presidential Bid in 2016
- The U.S. Has Failed Its Children – In the Most Unconscionable Ways
- Jamie Dimon’s House of Frauds Is the Target of More than 200 Investigations, Costing $2 Billion in Legal Expenses in Less than Two Years
- New York Fed Report: 27 Percent of Bank Capital Is “Extend and Pretend” Commercial Real Estate Loans
- The U.S. Government Is Plowing Billions into SpaceX, Overlooking Drug Use, Sex Parties, and Elon Musk’s Coziness with Putin
- The U.S. Has Given Top Secret Clearance to Elon Musk and Over $19 Billion in Contracts, Ignoring His Illegal Drug Use and Phone Chats with Putin as His SpaceX Puts Spy Satellites into Orbit
- Goldman Sachs Has Ripped Off Its Customers for a Century – a Puny $64.8 Million Fine for Abusing Thousands of Apple Credit Card Customers Fails the Smell Test
- Academic Paper Finds U.S. Banking System Is Less Safe Today than Before the 2010 Dodd-Frank Financial Reform Legislation Was Passed
- Jerome Powell’s Fed Notches an Historic Record of $204 Billion in Cumulative Operating Losses – Losing Over $1 Billion a Week for More than Two Years
- Could Big Tech Own Federally-Insured Banks? Here Are the Dangers
- FEMA Was First Targeted by Project 2025; Now FEMA Workers Are Being Threatened While Providing Disaster Relief in North Carolina
- Bloomberg News Writes Puff Pieces on Jamie Dimon While Its Parent Does Business Deals with the Bank He Heads, JPMorgan Chase
- Hurricanes Helene and Milton Send Climate Change Wakeup Call as Gulf of Mexico Water Breaks Heat Records
- A Bank Regulator Provides a Frightening Look at the Trading Casino Jamie Dimon Has Built Inside His Federally-Insured Bank
- Report: “Flash Flooding Is the Number One Storm-Related Killer in the U.S.” Few Cities or Towns in America Are Built to Survive Its Wrath
- Hurricane Helene Dumped 20 Trillion Gallons of Rain, Destroying Entire Towns in Western North Carolina, Hundreds of Miles from any Coastline
- Half of All Deaths from Hurricane Helene Occurred 485 Miles North of Where It Made Landfall
- What Did Madoff, Jeffrey Epstein and Sanctioned Russian Mercenary Group, Wagner, Have in Common? They All Banked at JPMorgan Chase
- Deadly, Exploding Pagers Force the U.S. to Get Serious About Malware from China in U.S. Products that Are Potential National Security Threats
- Wall Street Has Moved Vast Sums of Its Trading to Its Federally-Insured Banks
- The Stock Market Had a Psychotic Episode After the Fed Rate Cut Yesterday, Plunging 479 Points from the Day’s High
- As Trump Launches a Crypto Firm, FBI Reports Crypto Fraud Has Exploded to $5.6 Billion; Representing Almost 50 Percent of All Financial Fraud
- Everything this Book Predicted on Wall Street Megabanks Ruling their Regulators Is Now Unfolding
- The Fed Just Kicked the Capital Increases for the Dangerous Megabanks and their Derivatives Down the Road for Years
- Intel, Boeing and U.S. Steel May Hold the Secrets to What’s Behind All the Talk of a U.S. Sovereign Wealth Fund
- Trump and Paulson’s Proposal: U.S. Sovereign Wealth Fund (or Another Grifter Bailout)
- A Wall Street Regulator Is Understating Margin Debt by More than $4 Trillion – Because It’s Not Counting Giant Banks Making Margin Loans to Hedge Funds
- After JPMorgan Threatens to Sue, the Fed Cuts Its Capital Requirement on the 5-Count Felon from a Planned 25 Percent Hike to Less than 8 Percent
- Three Megabanks Had Loans Outstanding of $1.832 Trillion to Giant Hedge Funds on March 31
- Jamie Dimon’s Washington Post OpEd Gets Pummeled at Yahoo Finance
- In the Span of 72 Hours, Four People Tied to a Hewlett-Packard Criminal Case Died in Two Separate Events
- Crypto Took Down Another Federally-Insured Bank and Just Handed Its CEO a 24-Year Prison Sentence
- All the Devils from 2008 Are Back at the Megabanks: Leverage, Off-Balance-Sheet Debt, Over $192 Trillion in Derivatives, Shaky Capital Levels
- New Study Says the Fed Is Captured by Congress and White House — Not the Megabanks that Own the Fed Banks and Get Trillions in Bailouts
- Data from the Fed’s Emergency Funding Program Shows Spring 2023 Banking Crisis Was Far Deeper than Americans Were Told
- These FDIC-Insured Banks Have Lost 69 to 40 Percent of their Market Value Year-to-Date
- Exposure at Hedge Funds Has Skyrocketed to Over $28 Trillion; Goldman Sachs, Morgan Stanley and JPMorgan Are at Risk
- We Charted the Plunge and Rebound in the Nikkei Versus Nomura and Citigroup; the Correlation Is Frightening
- Former U.S. Labor Secretary Says Billionaires Have No Right to Exist Because their Wealth Comes from Five Illegal or Bad Practices
- Citigroup Is Having a Helluva Summer: A Protest on Thursday Will Turn Up the Heat
- Nikkei Has Biggest Drop in History: Here’s What’s Causing the Global Market Selloff
- JPMorgan Is Tapping Illiquid Assets in its Global Collateral Program; the New York Fed Is Paying for Its Services
- Bank Regulators Issue Warnings on Fintech and Banking as Disasters Pile Up
- Donald Trump Gives a Speech on Not Letting China Win the Crypto Race – Not Realizing China Banned Crypto Mining and Transactions Four Years Ago
- The New York Fed Has Contracted Out Key Functions to JPMorgan Chase; We Filed a FOIA and Got These Strange Invoices
- On the Eve of Netanyahu’s Address to Congress, Senator Bernie Sanders Delivers a Breathtaking Assessment of His War Crimes
- Trump’s Sit-Down with Netanyahu at Mar-a-Lago Will Cost U.S. Taxpayers Millions While Profiting Trump’s Business
Search Results for: russian nesting dolls
JPMorgan and Madoff Were Facilitating Nesting Dolls-Style Frauds Within Frauds
By Pam Martens: January 13, 2014 Last week JPMorgan Chase paid $2.6 billion in fines and restitution, signed a deferred prosecution agreement and walked away from their 22-year involvement with Bernie Madoff’s Ponzi scheme. But according to court documents filed in 2011 by the Trustee of the Madoff victims’ fund, Irving Picard, this was not a simple case of poor risk management at JPMorgan. This was an operation structured like those Russian nesting dolls, with the Ponzi scheme as the outside doll with many more frauds layered inside the big one. After reading the documents released by the Justice Department in connection with the settlement, the Los Angeles Times asked in a photo caption of a smirking Madoff outside of Federal Court: “Bernie Madoff: Was he part of the JPMorgan ring, or was JPMorgan part of his ring?” The New York Times had a far more charitable stance, with Floyd … Continue reading
From Jeffrey Epstein to Sam Bankman-Fried to Madoff – JPMorgan Banks the Creepy Crooks
By Pam Martens and Russ Martens: February 16, 2023 ~ If yesterday had been National Creepy Crooks Day, JPMorgan Chase would have taken top honors. Bloomberg News reported on the creepy emails that former JPMorgan Chase executive Jes Staley was sending back and forth from his email account at the bank to child sex trafficker Jeffrey Epstein, as the bank was only too happy to handle 55 accounts worth hundreds of millions of dollars for Epstein. One set of emails suggested Staley was having kinky or sexual relationships with individuals dressed up as Disney characters. (Leave it to JPMorgan to take down not only its own brand but taint Disney’s brand as well.) Anyone who has ever worked at a major Wall Street brokerage firm or investment bank knows full well that emails are monitored by the company. This suggests that Staley knew he had nothing to fear from the bank’s … Continue reading
Senator Elizabeth Warren and Bloomberg News Need to Give It a Rest with Bashing Wells Fargo and Turn Their Attention to 5-Count Felon, JPMorgan Chase
By Pam Martens and Russ Martens: September 17, 2021 ~ On Tuesday of this week, Bloomberg News published its umpteenth negative article on the San Francisco-headquartered bank, Wells Fargo. This time around, the article was highlighting Senator Elizabeth Warren calling for Wells Fargo to be broken up, with its federally insured bank separated from its Wall Street businesses. Bloomberg News syndicates its articles, so this story was quickly splashed all over other news outlets. And that’s the way it has been going since 2017. When Senator Warren bashes Wells Fargo, she gets lots of coverage by New York media outlets. Since March of 2018, Bloomberg News has published more than 80 negative articles on Wells Fargo with headlines like these: Wells Fargo CEO Abruptly Steps Down, Succumbing to Scandals; Wells Fargo’s CEO Disputes Claim His Bank Is Too Big to Manage; Elizabeth Warren on Wells Fargo CEO’s Departure: ‘About Damn Time’; Ex-Wells Fargo Bosses Face … Continue reading
In the WeWork IPO, the Money Trails End Up at JPMorgan’s Doorstep
By Pam Martens and Russ Martens: September 16, 2019 ~ According to the amended prospectus filed with the Securities and Exchange Commission to alert the public to the thousands of warts with malignant possibilities sprouting out of the office rental company, WeWork, which plans to offer its shares to the public for the first time, JPMorgan Chase will receive something no other underwriter is getting in this deal: a cool $50 million extra as a “structuring fee.” On top of that, of course, the bank will also get the fat underwriting fees that the other banks involved in the IPO get. That’s just one of the many curious ways that JPMorgan Chase stands out in its relationship with WeWork. (The parent of WeWork, The We Company, is actually offering the shares to the public.) As it turns out, quite a few of JPMorgan Chase’s commercial real estate clients who have … Continue reading
Investigations
In-depth research on public interest topics frequently ignored by corporate media. (For most recent reports, scroll to the end.) Maria Bartiromo and the Co-Branding of CNBC and Citigroup: February 2, 2007 The cozy nexus between CNBC and Citigroup, the company on which it is supposed to be providing objective reporting. Madoff and the SEC’s Revolving Door: August 31, 2009 …the background of the member of the team heading up the Inspector General’s Office of Investigations, J. David Fielder, should have sounded alarm bells to Congressional investigators. Wall Street Titans Use Aliases to Foreclose on Families: October 5, 2009 A federal agency tasked with expanding the American dream of home ownership and affordable housing free from discrimination to people of modest means has been quietly moving a chunk of that role to Wall Street since 2002. In a stealth partial privatization, the U.S. Department of Housing and Urban Development (HUD) farmed out … Continue reading
Two Dow Stocks, Two Cultures of Corruption: Boeing versus JPMorgan Chase
By Pam Martens and Russ Martens: March 25, 2022 ~ Boeing and JPMorgan Chase are two of the component stocks of the 30-stock index known as the Dow Jones Industrial Average, which is broadly considered to be a barometer of the growth prospects of the U.S. economy. Both companies have been criminally charged by the U.S. Department of Justice in the recent past. (In the case of JPMorgan Chase, it has been charged with an unprecedented five criminal felony counts since 2014.) Both companies were part of badly conceived mergers that headed them toward a culture of corruption. On January 7 of last year, the U.S. Department of Justice entered into a deferred prosecution agreement with Boeing over a one-count criminal charge of a conspiracy to defraud the United States. Acting Assistant Attorney General David P. Burns of the Justice Department’s Criminal Division said this about Boeing’s conduct: “The tragic crashes … Continue reading
Michael Cohen Got $3 Million More from Unnamed Sources; Records Vanish
By Pam Martens and Russ Martens: May 17, 2018 ~ The intrepid investigative reporter, Ronan Farrow, who has a shiny new Pulitzer on his shelf for his investigations into Harvey Weinstein, published an article last night at The New Yorker that should alarm every American. It turns out that it was a law enforcement official who leaked the confidential government file on Donald Trump’s lawyer Michael Cohen out of concern that someone in the government was making other undisclosed files on Michael Cohen’s funny money transactions involving an additional $3 million disappear. Cable news has breathlessly been reporting for days now on the financial file that the law enforcement official leaked to Michael Avenatti, attorney for porn star Stormy Daniels, who was paid $130,000 from Cohen’s secret account – a limited liability corporation established in Delaware with the name Essential Consultants LLC. (“Essential” suggesting that if you want the President’s … Continue reading
Trump Bank Regulator Wants to Merge Taxpayer-Backstopped Banks With Corporate Conglomerates
By Pam Martens and Russ Martens: November 13, 2017 A man holding one of the most important and powerful jobs for keeping the U.S. banking system safe from another epic crash like that of 1929 and 2008 has tongues wagging over the bizarre speech he delivered at the Clearing House Annual Conference last Wednesday in New York. Keith Noreika is the acting head of the Office of the Comptroller of the Currency (OCC), the Federal agency responsible for supervising national banks and inspecting them for safety and soundness. What Noreika recommended last Wednesday, however, would make the U.S. banking system significantly more dangerous than it already is. Noreika thinks there is no good reason to prevent giant corporate conglomerates from owning insured depository banks that are backstopped by the U.S. taxpayer. He had this to say in his speech last week: “The narrative persists to keep commercial interests from owning or … Continue reading
Cartels R Us: Tab for Rigging Foreign Exchange $3.3 Billion and Rising
By Pam Martens: November 12, 2014 Two U.S. and three foreign banks have been charged with rigging the foreign exchange market where $5.3 trillion changes hands daily and have settled civil claims for $3.3 billion. (The charges are very similar to those in the rigging of the international interest rate benchmark known as Libor.) Additional charges and settlements by other regulators are expected to follow before the end of the year. The U.S.-based Commodity Futures Trading Commission (CFTC) levied a total of over $1.4 billion in fines against JPMorgan, Citigroup, UBS, HSBC and RBS. The same five banks were fined $1.7 billion by the U.K.’s Financial Conduct Authority (FCA). Swiss regulator FINMA charged only UBS with a fine of $139 million and included rigging of precious metals trading along with rigging foreign exchange. While the details that were released are skimpy and the Financial Conduct Authority is already being criticized … Continue reading
How High Up Did the Madoff Fraud Go at JPMorgan?
By Pam Martens and Russ Martens: August 13, 2014 Helen Davis Chaitman is a nationally recognized litigator and author of The Law of Lender Liability. And she is two other things as well – a Bernie Madoff victim who lost a large part of her life savings to his Ponzi scheme and the tenacious lawyer who represented other victims of his fraud in district and appellate courts. Now, together with attorney Lance Gotthoffer, Chaitman has written a book titled JPMadoff: The Unholy Alliance Between America’s Biggest Bank and America’s Biggest Crook. The book is being made available to readers on a new web site which will provide a chapter each month. The first chapter is currently available and Chaitman says that the second chapter, to be posted on September 12, will detail what JPMorgan knew and when it knew it. The web site also provides a quick means of contacting your … Continue reading
