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Recent Posts
- 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
- Protecting Trump and His Jet-Setting Adult Children During His Presidency Cost Taxpayers Over $1 Billion
- A Congressman and a Doctor Reported a Woman Being Shot at Trump Rally: She’s Vanished from Official Reports
- Jamie Dimon Goes Missing from Earnings Call, After Dumping $183 Million of His JPMorgan Chase Stock Earlier this Year
- U.S. Senate Candidate Backed by Hedge Fund Billionaires Was Sitting in Front Row at Trump Rally as the Sniper Fired into the Bleachers
- Project 2025: The Fossil Fuel and Banking Money Behind the Madness
- The Fund Created to Unwind a Failing Megabank Has a Problem: There’s No Money in It
- Joe Biden Versus the New York Times
- Grand Jury Transcript in Jeffrey Epstein Case Is Released, Raising Questions about Epstein’s Darkest Secrets Being Protected in JPMorgan Cases
- The Supreme Court Crowns a King, Immunizing Future Criminal Acts Under Project 2025 – a Right Wing Manifesto
- The Debate Disaster and the Supreme Court’s “Chevron” Repeal Have a Money Trail Leading to Charles Koch
- Congressman Andy Barr Stacks a Hearing on the Fed’s Stress Tests with Lobbyists for Megabanks
- The Fed Posts Historic Operating Losses As It Pays Out 5.40 Percent Interest to Banks
- Goldman Sachs’ Bank Derivatives Have Grown from $40 Trillion to $54 Trillion in Five Years; So How Did Its Credit Exposure Improve by 200 Percent?
- The Fed and FDIC Wake Up Suddenly to the Threat of Derivatives, Flunking the Four Largest Derivative Banks on their Wind-Down Plans
- Is the Stock Market Setting Investors Up for a Tech Bust Similar to the Dot.com Bust?
- Chase Bank Customers Are Reporting a Wave of Wire Fraud in their Accounts; the Bank Won’t Make Good on the Looted Funds
- The Senate Race in Ohio Is the Sickest in U.S. History in Terms of Billionaire Money from Outside the State
- Sullivan & Cromwell’s Legal Work for Sam Bankman-Fried’s Crypto House of Fraud Is Getting a Closer Look in Two Federal Court Cases
- Crypto Tries to Recreate the Koch Money Machine to Pack Congress with Shills
- French Fears Ignite Selloff in U.S. Megabanks and Foreign Peers
- Crypto Just Got Exponentially More Dangerous: Meet Fairshake
- Nvidia Hit a $3 Trillion Market Cap Last Week; Dark Pools Are Making Over 300,000 Trades in the Stock Weekly
- The Consumer Financial Protection Bureau Is Making Enemies in All the Right Places
- A Former Exec at Citibank Raises Alarm Bells in Federal Court Over Failed Risk Controls Inside the Bank
- Charles Koch’s Money Is Being Used in Elections in Ways Only Orwell Could Have Imagined
- Freakonomics and Frankenbanks: JPMorgan Chase Sucked Up 18 Percent of All Profits of 4,568 FDIC-Insured Banks in the First Quarter
- Academic Study Provides Hard Numbers to the Sick, Revolving Door Culture at Goldman Sachs, JPMorgan and Citigroup
- $244 Billion of Treasury Debt to Hit the Market Today and Tomorrow as Interest Rates Spike on Ballooning Supply
- CFTC Fines J.P. Morgan Securities — a Fed Primary Dealer — $100 Million for Failing to Surveil Potential Spoofing and High Frequency Trading for Eight Years
- Another FDIC-Insured Bank Got in Bed with Fintech; It’s Now Got a Dumpster Fire and Desperate Pleas from Customers for their Money
- Citigroup Gets Fined $79 Million Two Years After It Caused a $300 Billion Flash Crash in European Stock Markets
- After Weeks of Howling by MAGA Republicans for the Chair of the FDIC “to Resign,” a Democrat Delivers the Decisive Stab in the Back
Search Results for: boli
Bill Dudley, Former Kingpin of Darkness at the New York Fed, Now Urges Transparency at the Fed
![William Dudley](https://wallstreetonparade.com/wp-content/uploads/2023/04/William-Dudley.jpg)
By Pam Martens and Russ Martens: January 4, 2024 ~ William (Bill) Dudley served as President of the New York Fed from 2009 to 2018. (He was previously an executive at Goldman Sachs.) During Dudley’s tenure at the New York Fed, it secretly oversaw the largest and darkest bailout of Wall Street mega banks in global banking history. A Bloomberg News reporter, the late Mark Pittman, battled in court for years to get the details of those bailouts released to the public. Today, the former kingpin of darkness at the New York Fed, Bill Dudley, had the audacity to pen an opinion column for Bloomberg News, urging – wait for it – more transparency at the Fed. The ironic title of Dudley’s column is (paywall): “If Only We Knew the Problems Facing America’s Banks.” (We do. See Federal Agency Study Contradicts Fed Chair: Finds Banking System Is Ripe for Another Crisis and … Continue reading
The Same Day Sam Bankman-Fried Is Hit with a New Count of Bank Fraud, Three Regulators Warn About Crypto Bank Runs
![Damian Williams (Photo Source US Attorney's Office, SDNY, via AP)](https://wallstreetonparade.com/wp-content/uploads/2021/08/Damian-Williams-Photo-Source-US-Attorneys-Office-SDNY-via-AP.jpg)
By Pam Martens and Russ Martens: February 27, 2023 ~ On December 13, the U.S. Department of Justice released an 8-count criminal indictment against the former crypto kingpin, Sam Bankman-Fried. He was charged with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the Federal Election Commission and commit campaign finance violations. Last Thursday, the Department of Justice added four additional criminal counts against Sam Bankman-Fried in a superseding indictment. These include: bank fraud; conspiracy to operate an unlicensed money transmitting business; and two counts involving the purchase and sale of derivatives. Bankman-Fried’s jury trial is scheduled to start in October. The charge of bank fraud is something that jury members can get their minds around – particularly when the alleged bank fraud is shown to have taken place at federally-insured banks which are backstopped … Continue reading
FTX Bankruptcy Proceedings Thus Far Show a Shocking Miscarriage of Justice
![](https://wallstreetonparade.com/wp-content/uploads/2020/06/Scales-of-Justice-150x123.jpg)
By Pam Martens and Russ Martens: January 12, 2023 ~ To grasp the severity of the miscarriage of justice that occurred yesterday at the hands of Judge John Dorsey in the bankruptcy hearing for collapsed crypto exchange, FTX, one first needs a brief bit of background. The FTX companies that the bankruptcy lawyers are attempting to resuscitate or sell off to other crypto outfits (while the law firms collect millions of dollars in billable hours for their work) are peddling a product – crypto – that is created out of thin air and has no legitimate productive purpose. (See Over 1,600 of the Brightest Scientific Minds in Technology Have Signed a Letter Calling Both Crypto and Blockchain a Sham.) The hundreds of billions of dollars that American investors have been dumped into crypto exchanges, crypto lenders, crypto miners, and crypto banks are not only threatening the safety and soundness of the … Continue reading
Nowhere to Hide: The Fed-Induced Bubble in Stocks and Bonds Is Blowing Up; Even the Typical Safe Havens of Gold and T-Notes Are Losing Money
![](https://wallstreetonparade.com/wp-content/uploads/2013/08/Stock-Chart.jpg)
By Pam Martens and Russ Martens: September 25, 2022 ~ The corrupt political backdrop for today’s unprecedented market quagmire feels like a hyperbolic trailer for a low-budget sci-fi thriller: The former president of the only remaining superpower in the world has been charged with “staggering” frauds against banks – the ones he just deregulated as president. (This same former president was also caught red-handed with Top Secret documents after he left public office — but the super power’s 18 intelligence agencies have no idea what he did, or was planning to do, with these documents.) On the other side of the globe, the sitting president of a bygone superpower is engaging in nuclear saber-rattling and conscripting 60-year-old men to fight an illegal war while young, able-bodied men flee the country en masse. The world’s financial markets have gone off the rails in an equally disorienting fashion. The central bankers that had … Continue reading
The Wall Street Captured Fed Consolidates Its Power Under Biden
![David Dayen](https://wallstreetonparade.com/wp-content/uploads/2021/06/David-Dayen-iii-125x150.jpg)
By Pam Martens and Russ Martens: June 7, 2021 ~ Janet Yellen, the current U.S. Treasury Secretary, is also the Chair of the Financial Stability Oversight Council, which includes every Wall Street regulator. Before coming to the Treasury Department, Yellen was the Chair of the Federal Reserve and had spent the bulk of her working career at the Fed or the San Francisco Fed. When Yellen was not reappointed as Fed Chair by Donald Trump when her Chairmanship term expired in 2018, she immediately cashed in her chips on Wall Street, collecting millions of dollars in speaking fees in 2019, and undisclosed millions more in 2018. (See Janet Yellen’s Cash Haul of $7 Million Is Just the Tip of the Iceberg; She Failed to Report Her Wall Street Speaking Fees from JPMorgan and Others in 2018.) Yellen was a Federal Reserve Board Governor when she was appointed Fed Chair. Her term … Continue reading
McConnell, Heavily Funded by Wall Street, Is Blocking Seating of Democrats as Senate Committee Chairs
![Senator Mitch McConnell (Left); JPMorgan Chase Chairman and CEO, Jamie Dimon (Right)](https://wallstreetonparade.com/wp-content/uploads/2020/09/Senator-Mitch-McConnell-Left-JPMorgan-Chase-Chairman-and-CEO-Jamie-Dimon-Right-1-150x92.jpg)
By Pam Martens and Russ Martens: January 22, 2021 ~ Nine days ago we cautiously reported that Senator Sherrod Brown, a Democrat from Ohio who holds a critical view of Wall Street’s serial bent toward fraudulent activities, was set to take the Chairmanship of the Senate Banking Committee. This would endow Brown with the power to set the agenda for hearings, call witnesses and put them under oath, and issue subpoenas. We wrote this at the time: “We get the feeling that Senator Brown took the very wise and preemptive step of getting mainstream media to announce his Chairmanship yesterday because he clearly understood that Wall Street’s mega banks would be fighting behind the scenes in an effort to prevent him from advancing to Chair.” With the addition of the two new Democratic Senators from Georgia’s special runoff (Raphael Warnock and Jon Ossoff) and Vice President Kamala Harris as the … Continue reading
Using Koch Money, Cato Institute Has Led the Drumbeat to Denigrate and Privatize the U.S. Postal Service
![U.S. Postmaster General, Louis DeJoy](https://wallstreetonparade.com/wp-content/uploads/2020/08/U.S.-Postmaster-General-Louis-DeJoy-150x150.jpg)
By Pam Martens and Russ Martens: August 19, 2020 ~ The first thing you need to know about the right-wing Cato Institute is that it quietly began its life as the Charles Koch Foundation in 1974. The name was changed to the Cato Institute in 1977 according to the restated articles of incorporation. For decades, the Cato Institute enjoyed a taxpayer subsidy as a nonprofit while being secretly owned by a handful of men, two of whom were the fossil fuel billionaire brothers, Charles and David Koch – libertarians with a radical agenda. (David Koch died in August of last year.) The second thing to know about the Cato Institute is that over the past 35 years, Koch-related foundations have pumped more than $22 million into its coffers to help Cato get out its messaging of killing off the following: Social Security; federally-subsidized school lunches; the minimum wage; collective bargaining; … Continue reading
Pull Back the Curtain on Efforts to Kill the U.S. Postal Service and Out Pops Koch Money
![Charles Koch](https://wallstreetonparade.com/wp-content/uploads/2020/07/Charles-Koch-150x150.jpg)
By Pam Martens and Russ Martens: August 14, 2020 ~ Since May, the nonprofit group funded with Koch’s fossil fuels money, Americans for Prosperity (AFP), has been mobilizing to defeat the House stimulus bill known as the HEROES Act. In a letter sent to members of Congress, AFP Chief Government Affairs Officer Brent Gardner wrote that AFP wants to see the bill killed and specifically mentions it does not want to see a bailout of the Postal Service. Today, Aaron Gordon at Vice is reporting that he’s gotten his hands on internal documents from the Postal Service which show that orders have come down from above to destroy approximately 500 mail sorting machines – which cost millions of dollars. Witnesses have told Gordon that they’ve seen the machines “destroyed or thrown in the dumpster.” Gordon’s latest report follows yesterday’s news that mail service has been slowed down in multiple parts … Continue reading
Warnings Grow: “We Are in a Massive Economic Downturn”
![Congressman Sean Casten of Illinois](https://wallstreetonparade.com/wp-content/uploads/2020/07/Congressman-Sean-Casten-of-Illinois-149x150.jpg)
By Pam Martens and Russ Martens: July 15, 2020 ~ Yesterday, Federal Reserve Governor Lael Brainard gave a speech via webcast to the National Association for Business Economics. She warned, effectively, that the rosy spin coming out of the Trump administration needed to be weighed against the reality on the ground. Brainard raised the caution that credit downgrades on bonds and corporate defaults are occurring at “a faster pace than in the initial months of the Global Financial Crisis.” Brainard explained as follows: “In downside scenarios, there could be some persistent damage to the productive capacity of the economy from the loss of valuable employment relationships, depressed investment, and the destruction of intangible business capital. A wave of insolvencies is possible. As the Federal Reserve Board’s May Financial Stability Report highlighted, the nonfinancial business sector started the year with historically elevated levels of debt. Already this year, we have seen about $800 … Continue reading
Financial Lynching Must Be Part of the National Debate
![U.S. Capitol With Storm Clouds](https://wallstreetonparade.com/wp-content/uploads/2020/05/U.S.-Capitol-With-Storm-Clouds-iii-150x100.jpg)
By Pam Martens and Russ Martens: June 1, 2020 ~ As we watched the dangerous scenes of protesters interacting with riot police and the ransacking of banks and businesses in cities across the United States this past weekend, a warning from the 19th century abolitionist, Frederick Douglass, came to mind: “Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organized conspiracy to oppress, rob and degrade them, neither persons nor property will be safe.” The protests last week and this past weekend were sparked by unspeakable cellphone videos of a Minneapolis policeman, Derek Chauvin, torturing and murdering George Floyd with his knee crushing his throat for almost nine minutes as Floyd lay handcuffed and pinned face down on the ground by Chauvin and three other police officers. Only Chauvin has been charged with third degree … Continue reading