Search Results for: dead bankers

By Pam Martens and Russ Martens: September 29, 2016 Last Thursday, September 22, 2016, the body of Ann Korkki, a Senior Administrative Assistant in the Wealth Management division of JPMorgan Chase in Denver, Colorado was found with the body of her sister, Robin Korkki, inside their luxury vacation villa at the Maia Resort on Seychelles, an island in the Indian Ocean off the East African coast. Ann Korkki was 37; her sister Robin was 42. According to the local Seychelles newspaper, there was no sign of violence on the bodies of the women who were on a one week vacation at the resort. The mother and brother of the sisters are currently in Seychelles “pressing U.S. and local officials for details” and making arrangements to bring the sisters back to the U.S. according to a news report in the Minneapolis Star Tribune, which covered the story because the sisters had … Continue reading →

By Pam Martens and Russ Martens: May 16, 2016 The Citigroup Private Bank at 201 South Biscayne Blvd. in Miami is located in a 34-story building in downtown Miami with breathtaking views of Biscayne Bay. It’s also the address for dozens of offshore companies whose agent is Mossack Fonseca, the law firm at the center of the Panama Papers scandal. The graph below shows just some of those companies, a number of which were incorporated as recently as 2013 through 2015. (Some companies indicate they are no longer active.) This new information comes from a search of the public database made available by the International Consortium of Investigative Journalists (ICIJ), which received more than 11.5 million leaked files from the Panama-based law firm, Mossack Fonseca, which ICIJ calls “one of the world’s top creators of hard-to-trace companies, trusts and foundations.” The full cache of records has yet to be made public … Continue reading →

By Pam Martens: August 31, 2015  The riveting writer, Michael Hudson, has read our collective minds and the simmering anger in our hearts. Millions of American have long suspected that their inability to get financially ahead is an intentional construct of Wall Street’s central planners. Now Hudson, in an elegant but lethal indictment of the system, confirms that your ongoing struggle to make ends meet is not a reflection of your lack of talent or drive but the only possible outcome of having a blood-sucking financial leech affixed to your body, your retirement plan, and your economic future. In his new book, “Killing the Host,” Hudson hones an exquisitely gripping journey from Wall Street’s original role as capital allocator to its present-day parasitism that has replaced U.S. capitalism as an entrenched, politically-enforced economic model across America. This book is a must-read for anyone hoping to escape the most corrupt era … Continue reading →

By Pam Martens and Russ Martens: August 3, 2015 William D. Cohan has joined Paul Krugman and Andrew Ross Sorkin at the New York Times in pushing the patently false narrative that the repeal of the Glass-Steagall Act in 1999 had next to nothing to do with the epic Wall Street collapse of 2008 and the greatest economic calamity since the Great Depression. (See related articles on Krugman and Sorkin below.) The New York Times has already admitted on its editorial page that it was dead wrong to have pushed for the repeal of Glass-Steagall but now it’s dirtying its hands again by publishing all of these false narratives about what actually happened. In a July 30 column, Cohan ridicules Senators Elizabeth Warren and John McCain over their introduction of legislation to restore the Glass-Steagall Act to separate insured deposit banks from their gambling casino cousins, Wall Street investment banks. … Continue reading →

By Pam Martens and Russ Martens: February 4, 2015 The monetary policy arm of the U.S. central bank, the Federal Open Market Committee (FOMC), is getting hammered this week. On Monday, two researchers at the Federal Reserve Bank of San Francisco chastised the FOMC for effectively wearing rose-colored glasses since 2007 and getting the rate of economic growth mostly dead wrong. (More on that later in this article.) Yesterday, in a speech before the Minnesota Bankers Association, Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis said that if one applied a corporate performance measurement to the FOMC’s dual job assignment from Congress of promoting price stability and maximum employment, then the FOMC has “underperformed in the past three years” on both measures. The reason the FOMC has underperformed according to Kocherlakota is that it did not provide adequate stimulus. The Fed President told the audience: “What concrete actions … Continue reading →

By Pam Martens and Russ Martens: November 20, 2014 Depending on where and when you got your news yesterday on the tragic death of Shawn D. Miller, a Managing Director of Wall Street mega bank, Citigroup, you were either emphatically told he died of a suicide or you were led to believe he was murdered. By late evening yesterday, the story had disintegrated into wild speculation. The New York Daily News ran this stunning headline, based on anonymous sources, at 9:22 p.m.: “Banker, 42, slashed his own throat in Manhattan bathtub during drug- and booze-filled bender: sources.” It is becoming abundantly clear that if you work for a major Wall Street firm and die a sudden death, it will be shaped, molded, twisted and contorted until it fits with the suicide narrative – no matter how strongly the facts argue otherwise. This is what we can reliably report this morning: … Continue reading →

By Pam Martens and Russ Martens: May 20, 2014 If it’s at all possible, don’t die on the premises of a too-big-to-fail bank like JPMorgan. That’s because if you do your otherwise meritorious life and career is likely to be turned into a circus of slanderous tidbits in order to promote the reputation of the global banking behemoth as the benevolent guardian of all things noble and saintly. A coroner’s inquest began at 10 a.m. in London this morning to investigate how 39 year old Gabriel Magee, a technology Vice President who worked in JPMorgan’s European headquarters at 25 Bank Street in London, came to be found dead on a 9th level rooftop at approximately 8:02 a.m. on the morning of January 28 of this year. The inquest had barely begun when the wire service, Reuters, ran this headline: “JP Morgan Executive Had High Alcohol Level Before Skyscraper Plunge, London … Continue reading →

By Pam Martens and Russ Martens: March 3, 2014 In the past three months, at least eight JPMorgan Chase employees, aged 22 to 39, have passed away, including the three highly publicized, suspicious deaths of Gabriel Magee, Ryan Crane and a young man the media is now calling Dennis Li. The eight deaths are likely a small fraction of the actual number of JPMorgan employees in this age cohort who died during December 2013 and January and February of this year. Wall Street On Parade was able to locate this small sampling from online funeral home notices in the U.S., thus the sampling does not include deaths where a notice was not posted online or deaths in the 59 foreign countries where JPMorgan Chase has employees, other than the death of Magee and Li which occurred in London and Hong Kong, respectively. As detailed with names, ages and job titles … Continue reading →

By Pam Martens and Russ Martens: February 17, 2014 The probability of two vibrant young men in their 30s who are employed by the same global bank but separated by an ocean dying within six days of each other is remote. And few companies are in as good a position to understand just how remote as is JPMorgan: since 2010, it has received four patents on quantifying longevity risks and structuring wagers via death derivatives. The two deaths at JPMorgan remain unexplained. Gabriel Magee, a 39-year old technology Vice President was found dead on the 9th level rooftop of JPMorgan’s European headquarters at 25 Bank Street in the Canary Wharf section of London on January 28 of this year. A London coroner’s inquest is scheduled for May 15 to determine the cause of death. Six days later, Ryan Crane, a 37-year old Executive Director involved in trading at JPMorgan’s New … Continue reading →

By Pam Martens: February 9, 2014 London Police have confirmed that an official investigation is underway into the death of a 39-year old JPMorgan Vice President whose body was found on the 9th floor rooftop of a JPMorgan building in Canary Wharf two weeks ago. The news reports at the time of the incident of Gabriel (Gabe) Magee’s “non suspicious” death by “suicide” resulting from his reported leap from the 33rd level rooftop of JPMorgan’s European headquarters building in London have turned out to be every bit as reliable as CEO Jamie Dimon’s initial response to press reports on the London Whale trading scandal in 2012 as a “tempest in a teapot.” An intense investigation is now underway into the details of exactly how Magee died and why his death was so quickly labeled “non suspicious.” An upcoming Coroner’s inquest will reveal the details of that investigation. It’s becoming clear … Continue reading →