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Recent Posts
- Wall Street CEOs Want the Line Between a Federally-Insured Bank and a Wall Street Trading Casino Erased; Regulators Want Higher Capital to Prevent That
- Don’t Cry for the Lowest Paid Wall Street Mega Bank CEO Just Yet; He’s Moving Up Fast
- Jamie Dimon to Testify at Senate Banking Hearing; Don’t Expect His Bank’s Financing of Sex Trafficking or 5 Felony Counts to Come Up
- The Number of IPO Listings Has Plunged in the U.S. While Some Investors Are Nursing Losses of 70 to 95 Percent
- The U.S. Treasury’s Financial Crisis Warning Bell Didn’t Ring Before the Repo Crisis of 2019 or This Year’s Bank Runs
- The Apple Credit Card from Goldman Sachs Has Been a Co-Branding Nightmare; Now Apple Wants a Divorce
- Fed Data on Cash Assets at the Biggest Banks Depicts an Out-of-Control Fed and Banking System
- Watchdog to Fed: JPMorgan Is Controlling Fossil Fuels Empire, Which Just Spilled a Million Gallons of Oil in Gulf of Mexico
- Six Big Banks Forced to Declare $9.3 Billion in Additional FDIC Expenses; Another Reason Their Talons Are Out for FDIC Chair Gruenberg
- A Deep Dive into the Unprecedented Wall Street Journal Attack on FDIC Chairman Martin Gruenberg
- Gutting Big Bank Capital Rules? What’s Really Behind Republicans’ Feigned Outrage Over Sexual Harassment at FDIC
- Last Year 12,000 Lobbyists Were Whispering in the Ear of Congress with a Bankroll of $4.1 Billion; Five Senators Are Demanding Transparency
- The Deposit Insurance Fund Has a Balance of $117 Billion to Protect Deposits at 4,622 Banks. But One of Those Banks Has $1.4 Trillion in Uninsured Deposits
- Bank Regulator Who Approved the Riskiest U.S. Bank Getting Bigger in May, Wants to Do a Survey on Why Trust in U.S. Banks Is Tanking
- WilmerHale’s Plan to Buy Blanket Immunity for JPMorgan for Banking Jeffrey Epstein’s Sex Trafficking Ring Has Backfired Badly
- Report: During Spring Banking Crisis, Banks Borrowed Over $1 Trillion from Federal Home Loan Banks — $100 Billion More than During the Crash of 2008
- Citigroup May Slash 24,000 Jobs; Its Stock Has Lost 92 Percent Since January 2007
- There’s a News Black Out on the Strange Doings in the JPMorgan Chase/Jeffrey Epstein Sex Trafficking Case in Manhattan
- WeSuck: First Came the Hype; then Came Adam Neumann’s Self-Dealing; then Came the IPO Scandal; Now Comes the Bankruptcy
- 17 Attorneys General and Two Claimants File Objections to JPMorgan Chase’s Tricked Up Settlement with Jeffrey Epstein Victims
- After Two Years, There’s Still No Law Enforcement Report on Former Dallas Fed President Robert Kaplan’s Trading Like a Hedge Fund Kingpin
- Jamie Dimon Craters Bank Stocks on Friday with Plans to Sell One Million Shares of JPMorgan Chase; Warren Buffett Isn’t Smiling
- Mike Johnson, “Champion of the Fossil Fuel Industry” and Climate Change Denier Elected as Speaker of the United States House of Representatives
- The Dow Went Negative for the Year on Friday. One-Third of the Dow Is Down by Double-Digits.
- Fed’s Financial Stability Report Says $20.3 Trillion Is Subject to a Run
- Regional Bank Stocks Plunge on Friday; More Pain Ahead as 10-Year Treasury Note Trades at a 5 Percent Yield This Morning
- JPMorgan Chase Paid $1.085 Billion in Legal Expenses in Last Six Months; It’s Still Battling Hundreds of Charges and Legal Proceedings on Three Continents
- Bank of America’s Deposits Fall, But at Slower Pace than JPMorgan Chase
- JPMorgan Chase Has Lost a Quarter Trillion Dollars in Deposits in Last 7 Quarters — Fortress Balance Sheet or Leaky Sieve?
- Fed’s Vice Chair for Supervision Says Another Financial Crisis Could Cost U.S. $5 Trillion to $25 Trillion – Potentially as Much as 100 Percent of GDP
- Janet Yellen’s Treasury Department Hires 5-Count Felon JPMorgan Chase to Look for Fraud
- There Are Two Reasons that 75 Percent of U.S. Banks Didn’t Hedge Their Interest Rate Risk as the Fed Hiked Rates at the Fastest Pace in 40 Years
- International Bank Study, Using 150 Years of Data, Shows Mega Banks Like the Big Four in the U.S. Produce Financial Instability and More Severe Crises
- After Getting the Largest Bailout in U.S. History in 2008, 85.5 Percent of the $1.34 Trillion in Deposits at Citigroup’s Citibank Lack FDIC Insurance Today
- A Public Policy Professor Who Served Under Three U.S. Presidents, Says Jamie Dimon Is an Oligarch and Has “Hijacked the System”
- The Yield on 10-Year Treasury Notes Hits a 16-Year High; Stocks Lose Ground in 8 of Last 10 Sessions; Treasury Announces Buybacks of Its Own Debt
- Five-Count Felon JPMorgan Chase Gets Hit with Another Federal Fine for 40 Million Derivative Violations; Pays 37 1/2 Cents Per Violation
- There’s a Trump Era/Charles Koch Big Law Firm Behind the Supreme Court Case that Hopes to Gut the Federal Agency that Fights for the Little Guy
- JPMorgan’s Settlements Reach $365 Million Over Civil Claims It Banked Jeffrey Epstein’s Sex Trafficking of Minors; Criminal Charges Could Lie Ahead
- Bank of America’s Unrealized Losses on HTM Debt Securities Total $106 Billion; 34 Percent of All Such Unrealized Losses Reported by 4,645 Banks
- The Perfect Storm Hits Big Banks: Tumbling Deposits, Rising Unrealized Losses, and Higher-for-Longer Interest Rates
- Meet the Banking Cartel that Is Planting the Seeds for the Next Banking Panic and Bailout
- Lobbyists Grab Control at House Financial Services Hearings, Backing Jamie Dimon’s Push to Gut Higher Capital Proposals
- Professors Point to JPMorgan Chase as Poster Boy of a Financial System Dependent on Corruption to Sustain Itself
- Another FDIC-Insured Bank Is Teetering, Closing at 27-1/2 Cents Yesterday, Down 96 Percent in a Year
- JPMorgan’s Pampered Client, Jeffrey Epstein, Broke a Lot More Laws Than Just Sex Trafficking of Minors
- Grab an Easy Chair and Watch 21 Experts Explore the Path from the Collapse of Lehman Brothers to This Spring’s Banking Crisis to the Urgency of Defanging the Mega Banks
- FDIC Releases a New Problem Bank List: It’s an Exercise in Fantasy
- Senate Banking to Convene Hearing Today on Climate Crisis Becoming a Homeowners Insurance Crisis
- Study Finds 75 Percent of U.S. Banks Didn’t Hedge Interest Rate Risk; Unrealized Losses on Securities $516 Billion at End of First Quarter
Search Results for: JPMorgan
Watchdog to Fed: JPMorgan Is Controlling Fossil Fuels Empire, Which Just Spilled a Million Gallons of Oil in Gulf of Mexico

By Pam Martens and Russ Martens: November 27, 2023 ~ The formidable Washington watchdog, Public Citizen, has trained its sights on JPMorgan Chase, Jamie Dimon’s house of serial frauds and felony counts that is allowed to also operate as the largest federally-insured bank in the United States. Public Citizen’s pursuit of JPMorgan Chase began in 2019 when its Energy Program Director, Tyson Slocum, began investigating a hodge podge of private equity shell companies using the name Infrastructure Investments Fund (IIF). At the time, IIF was in the process of buying El Paso Electric and Public Citizen smelled something rotten and started digging. Public Citizen concluded that JPMorgan Chase was controlling IIF. Public Citizen then filed a series of complaints in the matter with the Federal Energy Regulatory Commission (FERC). FERC is not a federal agency that JPMorgan Chase should be riling up again. In 2013, FERC fined the bank $410 million … Continue reading
WilmerHale’s Plan to Buy Blanket Immunity for JPMorgan for Banking Jeffrey Epstein’s Sex Trafficking Ring Has Backfired Badly

By Pam Martens and Russ Martens: November 9, 2023 ~ On October 20 we reported that JPMorgan Chase, a serial recidivist when it comes to crime, had paid $1.085 billion in legal expenses in just the last six months. A nice chunk of that money went to the Big Law firm, WilmerHale, which has been representing JPMorgan Chase this year in multiple lawsuits involving the bank’s dark history of financial dealings with child sex trafficker Jeffrey Epstein. (See Related Articles at the bottom of this article.) When the largest bank in the United States pays big bucks to a law firm with a roster of 1,000 attorneys, it doesn’t expect its $290 million class action settlement with Jeffrey Epstein’s victims to blow up in its face just days before the final Fairness Hearing – a legally required court event to determine if the terms of the agreement are “fair, adequate and … Continue reading
There’s a News Black Out on the Strange Doings in the JPMorgan Chase/Jeffrey Epstein Sex Trafficking Case in Manhattan

By Pam Martens and Russ Martens: November 6, 2023 ~ There are extremely strange things happening in a very high-profile federal court case in Manhattan where the largest bank in the United States, JPMorgan Chase, stands accused by victims of facilitating Jeffrey Epstein’s sex-trafficking ring that sexually abused minors as the bank doled out $40,000 to $80,000 a month in hard cash for more than a decade without filing the legally required Suspicious Activity Reports. Further implicating the bank is the fact, documented by internal emails, that executives and staff of JPMorgan Chase were visitors to Epstein’s Manhattan mansion where rapes and sexual assaults of minors have been alleged by victims as occurring. (See our report: A JPMorgan Court Filing Shows Another Bank Exec Visited Jeffrey Epstein’s Sex-Trafficking Residences 13 Times – Two More Times than Jes Staley.) A recent entry on the docket of the case shows that a federal … Continue reading
17 Attorneys General and Two Claimants File Objections to JPMorgan Chase’s Tricked Up Settlement with Jeffrey Epstein Victims

By Pam Martens and Russ Martens: November 1, 2023 The Attorneys General of 16 states and Washington, D.C. are challenging the settlement crafted by Big Law firm WilmerHale on behalf of JPMorgan Chase and by the high-profile lawyer, David Boies, on behalf of the sex-trafficked victims of the late Jeffrey Epstein. The class action settlement agreement was filed with the Federal District Court for the Southern District of New York in June. The court set a date of November 9 for the final Fairness Hearing – a legal requirement for class action settlements where the court must hear from any objectors impacted by the agreement. Depending on the strength of those objections, the Court could decide to reject the settlement as not “fair, adequate and reasonable” as required under Rule 23 for class actions, and ask the parties to go back to the drawing board. The state Attorneys General filing the objection … Continue reading
Jamie Dimon Craters Bank Stocks on Friday with Plans to Sell One Million Shares of JPMorgan Chase; Warren Buffett Isn’t Smiling

By Pam Martens and Russ Martens: October 30, 2023 ~ Last Friday, at 6:32 a.m. ET, headlines started rolling with the news that Jamie Dimon, the long-tenured Chairman and CEO of the largest bank in the United States, JPMorgan Chase, was going to start selling a significant part of his sizeable stock holdings in the bank next year. The revelation came in an 8K filing with the SEC and noted that he and his family “currently intend to sell 1 million shares,” leaving open the door that he and his family might decide to sell more. The 8K filing also stated that “This is Mr. Dimon’s first such stock sale during his tenure at the company.” The reality is that Dimon, his wife and his Trusts held over 10 million common shares of JPMorgan Chase in 2017 according to SEC filings and now they hold 8.6 million shares, according to a May … Continue reading
JPMorgan Chase Paid $1.085 Billion in Legal Expenses in Last Six Months; It’s Still Battling Hundreds of Charges and Legal Proceedings on Three Continents

By Pam Martens and Russ Martens: October 20, 2023 ~ At some point, federal regulators, the Senate Banking Committee and the criminal division of the U.S. Department of Justice are going to reach the same conclusion that Wall Street On Parade reached quite some time ago: JPMorgan Chase is a criminal enterprise in drag as a federally-insured bank. JPMorgan Chase is the largest U.S. bank, with $3.9 trillion in assets and 4,863 Chase Bank branches sucking in mom and pop deposits across the United States. According to its regulators, it is also the riskiest bank in the United States. And, two trial lawyers have written a fact-intensive book describing how the bank resembles the Gambino crime family. The bank’s admission to five criminal felony counts since 2015 and spiraling rap sheet would seem to back up that theory. Now comes the latest revelation in the bank’s own 8K filing with the Securities … Continue reading
Bank of America’s Deposits Fall, But at Slower Pace than JPMorgan Chase

By Pam Martens and Russ Martens: October 17, 2023 ~ Bank of America is the second largest bank by assets in the United States, topped in assets by only JPMorgan Chase. Both mega banks have seen a steady decline in deposits since the first quarter of 2022. But the decline in deposits at Bank of America represents just 65 percent of the deposit outflows that have occurred at JPMorgan Chase in the past seven quarters. (Bank of America, as the chart above shows, did report a small uptick in deposits in the current quarter.) At the end of the first quarter of 2022, Bank of America held $2.046 trillion in deposits. According to the 8-K filing the bank made with the Securities and Exchange Commission this morning, as of September 30, 2023 Bank of America’s deposits had declined to $1.885 trillion, a shrinkage of $161 billion. In the same span of time, … Continue reading
JPMorgan Chase Has Lost a Quarter Trillion Dollars in Deposits in Last 7 Quarters — Fortress Balance Sheet or Leaky Sieve?

By Pam Martens and Russ Martens: October 16, 2023 ~ On May 1, the Federal Deposit Insurance Corporation announced that First Republic Bank had failed and that it was being sold to JPMorgan Chase. At the time, JPMorgan Chase was already the largest and riskiest bank in the United States. The sweetheart deal the bank got from the FDIC to take over First Republic included the FDIC eating 80 percent of any losses on single-family residential mortgages for 7 years and 80 percent of any losses on commercial loans, including commercial real estate, for five years. The FDIC also provided JPMorgan Chase with a $50 billion, five-year fixed-rate loan at an undisclosed interest rate. According to the filing that JPMorgan Chase made with the Securities and Exchange Commission last Friday, the deal also gave JPMorgan Chase something that it desperately needed: deposits. According to the 8-K filing that JPMorgan Chase made with the … Continue reading
Janet Yellen’s Treasury Department Hires 5-Count Felon JPMorgan Chase to Look for Fraud

By Pam Martens and Russ Martens: October 11, 2023 ~ Immediately upon departing her post as Chair of the Federal Reserve, but prior to getting the nod from the Biden administration to become U.S. Treasury Secretary, Janet Yellen engaged in what the courageous reporter at ProPublica, Jesse Eisinger, called a “two-fisted money grab from banks.” Yellen raked in more than $7 million in speaking fees with the bulk of that coming from Wall Street banks and trading houses, including JPMorgan Chase. In a Tweet, Eisinger said: “This is corruption, but isn’t called that because it’s so quotidian.” Now there is the appearance that a quid pro quo is coming full circle. According to a press release posted on JPMorgan Chase’s website, “it has been designated by the United States Treasury Department under a financial agency agreement to provide account validation services for federal government agencies” in order to ensure “Treasury’s commitment to … Continue reading
Five-Count Felon JPMorgan Chase Gets Hit with Another Federal Fine for 40 Million Derivative Violations; Pays 37 1/2 Cents Per Violation

By Pam Martens and Russ Martens: October 2, 2023 ~ In the eyes of Wall Street veterans who are paying close attention to what’s going down at the mega banks on Wall Street, federal regulators are making the crime wave at these banks worse, not better. The federal fines for egregious behavior at these banks are getting smaller and more meaningless by the day. Take, for example, what happened on Friday. The Commodity Futures Trading Commission (CFTC) fined three of the largest trading houses on Wall Street a combined $53 million for derivative reporting violations. Those trading houses were units of Goldman Sachs, Bank of America, and JPMorgan Chase. But what was particularly tone deaf about the CFTC’s settlement with JPMorgan Chase was the tiny amount of the monetary fine and the praise heaped on the five-count felon bank for its “cooperation” with the federal regulator. According to the CFTC, over … Continue reading