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Recent Posts
- JPMorgan Chase Transferred $347 Billion in Debt Securities Over the Last 3 Years to Inflate Its Capital Using a Controversial Maneuver
- New Evidence Emerges that the Investigation of the Fed’s Trading Scandal by the Inspector General Has Been a Coverup from the Beginning
- JPMorgan Chase and Jeffrey Epstein Were Both Involved in a Strange Offshore Company Called Liquid Funding
- The Fed Has a New Scandal on Its Hands: Colluding with Central Banks to Rig Libor; Evidence Is Being Tweeted Out
- The Banking Crisis for the Biggest U.S. Banks Began in April 2022; By December 14 They Had Shed $457 Billion of Deposits
- The Banking Crisis Has Produced Extraordinary Testimony about Land Mines Lurking in the U.S. Banking System
- Americans Stampeded into TreasuryDirect Last Year, Opening Almost 3 Million New Accounts to Capture Rising Yields on Savings Bonds and Treasurys
- Serial Ethical Lapses at the Federal Reserve Will Come Under Scrutiny in a Senate Hearing Tomorrow
- FDIC Seizure of Foreign Deposits at SVB Opens Pandora’s Box at JPMorgan Chase and Citi – Which Hold a Combined $1 Trillion in Foreign Deposits with No FDIC Insurance
- At Year End, 4,127 U.S. Banks Held $7.7 Trillion in Uninsured Deposits; JPMorgan Chase, BofA, Wells Fargo and Citi Accounted for 43 Percent of That
- Academic Study Finds that One of the Four Largest U.S. Banks Could Be at Risk of a Bank Run
- Deposits at JPMorgan Chase, Bank of America and Wells Fargo Shrank by $465 Billion Y-O-Y; More than Twice the Total of 4,000 Small Banks
- Americans Are Wrong to Worry About FDIC-Insured Bank Deposits; They Need to Worry About Sales Hustlers Inside those Banks and Short-Selling Barbarians
- Short Sellers Cratered Silvergate Bank and First Republic; They’re Now Targeting PacWest and Numerous Other Regional Banks
- There Was a Blood Bath in Some Bank Stocks Yesterday: So Much for Jamie Dimon’s Prediction That It’s the End of the Banking Crisis
- JPMorgan Chase, Officially the Riskiest Bank in the U.S., Is Allowed by Federal Regulators to Buy First Republic Bank
- Banks that Put Up $30 Billion to “Rescue” First Republic May Have Been Trying to Rescue their Own Exposure to $247 Trillion in Derivatives
- Jamie Dimon’s Deeply Conflicted Role as “Rescuer” of First Republic Bank Requires a Credible Investigation
- The Warning Bell at the Federal Agency Created to Monitor Systemic Bank Risk Failed to Ring
- First Republic Bank, Without the $30 Billion in “Rescue” Funds, Lost $102 Billion in Deposits in One Quarter or 58 Percent
- Ahead of First Republic Bank’s Earnings Report Today, Moody’s Paints a Bleak Outlook
- Fed’s Beige Book: The Credit Crunch Has Arrived in New York, California and Texas
- Former New York Fed Pres Bill Dudley Calls This the First Banking Crisis Since 2008; Charts Show It’s the Third
- Liquor Sales Will Be Brisk on Wall Street Ahead of First Republic Bank’s Earnings Report on Monday
- Apple Is Loaning Its Brand to the Great Vampire Squid to Offer FDIC-Insured Savings Accounts
- JPMorgan Chase’s Deposits Declined by 57 Times that of Citigroup Over Past 12 Months
- New Bombshells Filed in Court in the Jeffrey Epstein/JPMorgan Child Sex Trafficking Case
- First Republic Bank’s “Rescuers” Had Underwritten $3.6 Billion of its Preferred Shares, Which Have Lost 65 to 70 Percent of their Value Year-to-Date
- Fed Report: Largest 25 U.S. Banks Have Shed $700 Billion in Deposits Over Past Year
- First Republic Bank: Dark Pool Trading by “Rescuers” Exploded in Volume as FRC Tanked
- A Growing Lack of Confidence in the Fed Is Spilling Over into a Lack of Confidence in U.S. Banks
- After Pushing the Wall Street Scheme to Repeal Glass-Steagall, the New York Times Returns to Puff Pieces on Rodge Cohen and Jamie Dimon
- After Being Criminally Charged for Rigging Precious Metals, JPMorgan Chase Controls 53 Percent of All Precious Metals Contracts Held by Banks
- Congress Sweats the Small Stuff as Four Wall Street Mega Banks Have a Combined $3.3 Trillion in Uninsured Deposits
- Weird Things Are Happening at Silvergate Bank and First Republic Bank
- As Senate Banking Committee Convenes Hearing on Exploding Banks, an FDIC Chart Shows the Banking Crisis Is Far from Over
- The Banking Crisis Knock-On Effect Has Been a Stampede into Government Money Market Funds – Foiling the Fed’s Effort to Raise Market Interest Rates
- Powell and Yellen Say the Banking System Is Sound as Another Global Bank Teeters
- Citigroup’s Citibank Took the Largest Amount of Loans from the FHLB of NY in 2022, Reminiscent of FHLB Loans Taken by Silvergate, SVB, Signature, and First Republic Bank
- At Year End, JPMorgan Chase Held Over $1 Trillion in Uninsured Deposits Versus $119 Billion at First Republic
- UBS Was Quietly Bailed Out in 2008; Now It’s Getting a $173 Billion Backstop to Buy Credit Suisse at 82 Cents a Share
- JPMorgan’s High Risk Footprint; Bloomberg News as PR Agent for Jamie Dimon; and the Untold Story of the Failed “Rescue” of First Republic by the Mega Banks
- The Next Bomb to Go Off in the Banking Crisis Will Be Derivatives
- Moody’s Downgrades Entire U.S. Banking System; Credit Suisse Plummets. Welcome to Banking Crisis 3.0
- Two Fed-Supervised Banks Blew Up Last Week; Two More Dropped Over 40 Percent Yesterday; and the Fed Wants to Investigate Itself — Again
- Silicon Valley Bank Was a Wall Street IPO Pipeline in Drag as a Federally-Insured Bank; FHLB of San Francisco Was Quietly Bailing It Out
- Bank Stocks Plummet as Bank Runs in the U.S. Gain Momentum at Federally-Insured, Non-Traditional Banks
- FDIC Investigators Are on the Premises of Collapsing Federally-Insured, Crypto Related Bank, Silvergate: It’s Not a Friendly Visit
- Over the Past Year, Inflation Eroded Your Purchasing Power while the Stock Market Ate Away Your Investment Gains
- Jamie Dimon Is Fighting a Deposition in a Devastating Lawsuit Charging JPMorgan With Being the Cash Conduit for Jeffrey Epstein’s Sex Crimes
Search Results for: rap sheet
A Private Citizen Would Be in Prison If He Had Citigroup’s Rap Sheet
By Pam Martens and Russ Martens: November 27, 2017 Since its financial meltdown in 2008 and unprecedented bailout by the U.S. taxpayer, Citigroup (parent of Citibank) has been repeatedly charged by its Federal regulators with odious crimes against its pooled mortgage investors, credit card and banking customers, student loan borrowers, and for its foreclosure frauds. It has paid billions of dollars in fines for its past misdeeds while new charges pile up. In 2015, it became an admitted felon for participating in rigging foreign exchange markets. In short, Citigroup is a lawbreaking recidivist. If it were a mere human, it would be serving a long prison term. Instead, its fines for charges of egregious acts are getting smaller, not larger. Last Tuesday, the Consumer Financial Protection Bureau (CFPB), which typically has a good track record of holding the big Wall Street banks accountable for their misdeeds, imposed an unusually feeble … Continue reading
DOJ Calls Out UBS Rap Sheet; Ignores Homegrown Citigroup’s Rap Sheet
By Pam Martens and Russ Martens: May 22, 2015 When the U.S. Department of Justice held its press conference on Wednesday to announce that five mega banks were each pleading guilty to a felony charge, paying big fines and being put on probation for three years, Assistant U.S. Attorney General Leslie Caldwell specifically took a battering ram to the reputation of Swiss bank, UBS. Four banks — Citicorp, a unit of Citigroup, JPMorgan Chase & Co., Royal Bank of Scotland and Barclays — pleaded guilty to an antitrust charge of conspiring to rig foreign currency trading while UBS pleaded guilty to one count of wire fraud for its earlier involvement in rigging the interest rate benchmark, Libor. In explaining why the Justice Department was ripping up the non-prosecution agreement it had negotiated with UBS in December 2012 over its involvement in the Libor fraud and now charging it with a … Continue reading
Fed Data Shows a Half Century of Moderate Growth in the Fed’s Balance Sheet through Two World Wars – Then a Seismic Explosion Under Bernanke, Yellen and Powell

By Pam Martens and Russ Martens: June 6, 2022 ~ Last month the Federal Reserve Bank of New York released its 2021 annual report from its “Markets Group.” That’s the group that operates a trading floor (complete with speed dials to the trading houses on Wall Street) at the New York Fed, located not far from the New York Stock Exchange, as well as another trading floor on the premises of the Chicago Fed, which is not far from the futures exchanges in Chicago. That report showed that despite all of the recent talk about the Fed dramatically shrinking its balance sheet from its current size of $8.9 trillion, the internal Federal Reserve plan for the balance sheet is actually this: “After declining by about $2.5 trillion from the peak size reached in the first half of 2022, the portfolio stops declining in mid-2025, at which point it is held constant … Continue reading
The SEC Has a Graph of the Wall Street Short-Term Loan Market that Blew Up: It Needs a Surgeon General Warning Before Viewing

By Pam Martens and Russ Martens: December 10, 2020 ~ If you suffer from chronic nightmares, experience migraine headaches from stress, or have anger management issues when confronted with abject stupidity, you probably want to avoid looking at the above graph that the Securities and Exchange Commission has created to show how one of the most critical financial markets in the United States functions. Or perhaps we should say, why it’s incapable of functioning when it’s most needed. The market is Wall Street’s Short-Term Funding Market which includes its integral repurchase agreement (repo) market. The repo market blew up in 2008 during the last financial crisis and required a Fed bailout. It blew up again on September 17, 2019 for reasons that have yet to be credibly explained and required at least $9 trillion in cumulative emergency loans from the Federal Reserve over the next six months. As we reported … Continue reading
Taxpayers Are on the Hook for 98 Percent of the Fed’s $6.98 Trillion Balance Sheet

By Pam Martens and Russ Martens: May 19, 2020 ~ If there has been any positive outcome from the COVID-19 pandemic, it has been that the American people are beginning to take a cold, hard look at how the U.S. economy has been engineered as a vast wealth transfer system for the one percent. We have peeled back the dark curtain further today on how the Federal Reserve has been structured as an unlimited money spigot to enrich that one percent as it privatizes profits for the criminally-inclined Wall Street titans and socializes the losses to the law-abiding 99 percent of hardworking Americans. ~~~ The Federal Reserve Board of Governors consists of seven individuals appointed by the President of the United States and confirmed by the U.S. Senate. As of today, only five of those Governor seats have been filled. As of last Wednesday, these five unelected individuals were overseeing … Continue reading
These Two Graphics Show Why New York City Is the Virus Epicenter in the U.S.

By Pam Martens and Russ Martens: March 23, 2020 ~ For want of a mask the largest economy in the world has been gutted, with Goldman Sachs now projecting that U.S. GDP could contract by as much as 24 percent in the second quarter. New York City, a major contributor to U.S. GDP, is now the epicenter of coronavirus cases in the U.S. We saw this as a likely outcome from the moment that we learned that droplets could be spread from person to person through the air. According to the Center for Sustainable Systems at the University of Michigan, “the average population density of the U.S. is 87 people per square mile.” But in New York City, “the population density is 27,012 people per square mile,” far greater than any other major city in America. Let that sink in for a moment. The population density in New York City … Continue reading
Fed’s Balance Sheet Spikes by $253 Billion, Now Topping $4 Trillion

By Pam Martens and Russ Martens: October 18, 2019 ~ Shhh! Don’t tell Congress that the Federal Reserve is back to electronically creating money out of thin air to throw at a liquidity problem (of an, as yet, undetermined origin) on Wall Street. And be sure not to mention that the Fed’s balance sheet has shot up in a period of just 42 days by $253 billion. And, of course, don’t remind Congress that before the last Wall Street crisis was over the Fed had secretly, with no oversight from Congress, piled up a $29 trillion tab to bail out Wall Street — a fact it fought years in court to keep under wraps. On September 4, 2019, the Fed’s assets on its balance sheet stood at $3.761 trillion. As of October 16, that figure is $4.014 trillion, edging closer to the $4.5 trillion peak it reached in 2015 following the … Continue reading
Fed’s Powell Admits a Bigger Bailout for Wall Street Is Coming; Fed’s Balance Sheet Ballooned by $176 Billion Since September

By Pam Martens and Russ Martens: October 9, 2019 ~ Yesterday, at a speaking event in Denver at the National Association of Business Economists, Federal Reserve Chairman Jerome Powell acknowledged that a larger, long-term bailout of Wall Street is coming. His two key points were buried in a subterfuge of puffery but came across loud and clear: “…my colleagues and I will soon announce measures to add to the supply of reserves over time.” And this: “As we indicated in our March statement on balance sheet normalization, at some point, we will begin increasing our securities holdings to maintain an appropriate level of reserves. That time is now upon us.” Let that final statement sink in for a moment. Under the previous Federal Reserve Chair, Janet Yellen, balance sheet normalization at the Federal Reserve meant reducing the Fed’s unprecedented $4.5 trillion balance sheet to get back to something near pre-crisis levels. … Continue reading
Wall Street’s Dark Pools Get a Bonanza Wrapped as Reform by the SEC

By Pam Martens and Russ Martens: July 25, 2018 ~ The Securities and Exchange Commission (SEC), which has had two separate Wall Street lawyers at its helm for the past five years (under both the Wall Street- friendly Obama administration as well as the current Trump administration), has released a 558-page document that attempts to pass itself off as reforming Wall Street’s Dark Pools. Instead, it simply tinkers around the meaningless edges of reform. Dark Pools are trading venues that should not exist in an efficient, transparent and honest securities market. They are effectively unregulated stock exchanges being run internally by some of the biggest Wall Street banks on Wall Street: The same banks (like Citigroup, JPMorgan Chase, Goldman Sachs and Merrill Lynch) that have been serially charged with abusing their customers. Instead of sending their stock trades to the New York Stock Exchange or another independent stock exchange, the … Continue reading
The New Banking Crisis — In Two Frightening Graphs
By Pam Martens and Russ Martens: September 27, 2016 After repeated, but ignored, warnings over the past two years from researchers at the U.S. Treasury’s Office of Financial Research (OFR), the new banking crisis has arrived with a vengeance and at a most inopportune time – when confidence is already draining from the financial system because of two U.S. presidential candidates with the highest disapproval ratings in modern history. Yesterday, Germany’s largest financial institution, Deutsche Bank, lost 7.06 percent by the close of trading on the New York Stock Exchange. That plunge in one of the most globally-interconnected banks dragged down the shares of every major Wall Street bank yesterday: Bank of America lost 2.77 percent; Morgan Stanley declined by 2.76 percent; Citigroup lost 2.67 percent; Goldman Sachs shed 2.21 percent; and JPMorgan Chase closed down 2.19 percent. Deutsche Bank, whose shares traded at more than $120 pre-crisis in 2007, … Continue reading