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Recent Posts
- Trump’s “Big Beautiful Bill” Is a Grotesque Giveaway to Fossil Fuel Billionaires While Adding $3.3 Trillion to Nation’s Debt
- Senator Chris Murphy Charges that Trump “Has Opened a Channel for Bribery”
- Congressman Casten: Trump’s Assault on the Rule of Law Is Causing Capital Flight Out of U.S. by Foreign Investors
- Trump’s Approval Rating Drops to 80-Year Low; IMF Says U.S. Tariffs Now Exceed the Highs During the Great Depression
- Nasdaq Has Lost More than 3,000 Points Since Trump’s First Full Day in Office in 2025; the Pain Has Barely Begun
- The Bond Crisis Last Week Was a Global No-Confidence Vote in U. S. President Donald Trump
- Trump’s Tariff Plan Guts $5 Trillion in Stock Value in Two Days; Senator Warren Calls for Emergency Action Before Markets Open on Monday
- Trump’s Attacks on Big Law, Universities, and the Media Have a Common Goal: Silence Dissent Against Authoritarian Rule
- Trump Administration Gives All Clear to Laundering Money through Shell Companies and Bribing Foreign Officials
- Four Megabanks on Wall Street Hold $3.2 Trillion in Uninsured Deposits – Which May Explain Senator Schumer’s Pivot to the GOP to Stop a Government Shutdown
- Here’s What Came Crashing Down Yesterday for Trump’s “Genius” Guy, Elon Musk: Tesla Stock, Access to Twitter (X), His Years of Secret Calls with Putin
- After Banning the Associated Press, Trump Is Now Targeting Specific Journalists That He Wants to See Fired
- Closely Watched Atlanta Fed Model Predicts Negative U.S. Growth in First Quarter
- Trump’s Gangster Diplomacy Makes Front Page Headlines Around the Globe
- Who Benefits Alongside Elon Musk If He Succeeds in Killing the CFPB: the Megabanks on Wall Street that Underwrite His Tesla Stock Offerings
- In Trump 1.0, the State Department Used Taxpayer Money to Publish a Book Elevating Elon Musk to a Superhero; It Was Funded by USAID, the Agency Musk Wants to Quickly Shut Down
- News Host Joy Reid Raises Threat of Trump Selling U.S. to Putin; Ten Days Later Her Show Is Cancelled
- Elon Musk’s DOGE Appears to Be Violating a Court Order; It Has Taken Down Hundreds of YouTube Videos that Educate Americans on How to Avoid Being Swindled
- Barron’s Releases Audio of Jamie Dimon Cursing Out His Workers at a Town Hall, as Dimon Plans to Dump Another One Million JPM Shares
- There’s One Federal Investigative Agency that Neither Trump nor Elon Musk Can Touch: It Just Opened an Investigation into DOGE
- Elon Musk’s Companies Were Under Investigation by Five Inspectors General When the Trump Administration Fired Them and Made Musk the Investigator
- Donald Trump Gives the Greenlight to Goldman Sachs and JPMorgan Chase to Return to Bribing Foreign Officials
- After Tech Geeks Built a Back Door to Loot Billions from FTX, Republicans Refuse to Investigate What Elon Musk’s Tech-Squad Did Inside the U.S. Treasury’s Payment System
- Former Prosecutor, Now U.S. Senator, Informs Tesla That CEO Musk May Be Violating Federal Law and to “Preserve All Records”
- Trump’s Hedge Fund Guy Is Now Overseeing the U.S. Treasury, IRS, OCC, U.S. Mint, FinCEN, F-SOC, and the Consumer Financial Protection Bureau
- As Elon Musk Begins Shutting Down Payments to Federal Contractors, a Strange Money Trail Emerges to His Operatives Inside the U.S. Treasury’s Payment System
- JPMorgan Chase Charged by Yet Another Internal Whistleblower with Cooking the Books
- We Asked Google’s AI Search Model, Gemini, Questions About the Fed and Wall Street Megabanks: It Got the Answers Dead Wrong
- With Trump and Melania’s Crypto Coins Likely to Raise Legal Challenges, Why Didn’t Trump Fire the SEC’s Inspector General in His Purge of IGs?
- Fossil Fuel Industry Could End Up Paying Tens of Billions for LA Wildfires and Deceiving the Public on Climate Change for Decades
- It’s Being Called the Biggest Grift by a President in U.S. History: Trump and First Lady Launch their Own Crypto Coins
- Trump Plans to Install a Fracking CEO to Head the Energy Department and Declare a National Emergency on Energy to Gain Vast Powers
- Fossil Fuel Money Played a Role in the Los Angeles Fires and the Push to Install Pete Hegseth as Secretary of Defense
- When It Comes to Wealth Retention in Retirement, Concrete May Be the New Gold
- Wall Street Watchdog Warns “Clock Is Ticking on a Coming Catastrophic Financial Crash”
- Wall Street Is Sending the Same Message to Americans on Fossil Fuel Financing that It Sent on Cigarettes: Drop Dead
- In a Six-Week Span, this Dark Pool with a Curious Past Traded 3.7 Billion Shares
- Wall Street’s Lobby Firm Hired Eugene Scalia of Gibson Dunn to Sue the Fed for Jamie Dimon
- Postmaster General Louis DeJoy Made $561,051 in Compensation in 2024, as Mail Costs Spiked and Delivery Deteriorated
- Fed Chair Jay Powell Sends a Bold Message to Trump and Tanks the Dow by 1123 Points
- The Head of Fixed Income at T. Rowe Price Makes the Scary Case for the 10-Year Treasury to Spike to 6 Percent
- $663 Billion in Cash Assets Have Gone Poof at the Largest U.S. Banks
- Donald Trump to Ring Bell at New York Stock Exchange Today as Hit List Posters Appear in Manhattan Targeting Wall Street CEOs
- Trump Has a Slush Fund to Prop Up the Dollar – Will He Use It to Prop Up Bitcoin Instead?
- A CEO Assassination; a Billionaire Heiress/NYPD Commissioner; a Secret Wall Street Spy Center – Here’s How They’re Connected
- Despite More than 1600 Tech Scientists Signing a Letter Calling Crypto a Sham, Trump Names a Crypto Cheerleader for SEC Chair
- The Fed Rings a Warning Bell: Hedge Funds and Life Insurers Are Reporting Historic Leverage
- Trump’s Nominee for FBI Director, Kash Patel, Has Businesses Financially Intertwined with Trump
- Donald Trump Is at Risk of Getting Named in a Fossil Fuels Conspiracy Lawsuit
- Trump Is Having Difficulty Getting a Lawyer to Accept the Nomination for SEC Chair: Here’s Why
Category Archives: Uncategorized
The Fed’s Wall Street Bailout May Go into Overdrive in December

By Pam Martens and Russ Martens: November 5, 2019 ~ The Fed is in deep fear, while also in deep denial, about what happened last December. Its fear is that it could happen again this December. Its denial is that its lax supervision of the Wall Street mega banks is largely responsible for the mess. The stock market news on December 24 of last year was not what folks want to be reading about on Christmas Eve. The Dow Jones Industrial Average had plunged 653 points on Christmas Eve and headline writers across major media were declaring the month to have been the worst December for stocks since the Great Depression. But the declines in the broader stock market averages paled in comparison to the December carnage that occurred in the share prices of the mega banks on Wall Street and, to the Fed’s consternation, the insurance companies that are … Continue reading
As the Fed Throws Hundreds of Billions a Week at Wall Street Banks for Liquidity, JPMorgan’s IIF Can Afford to Buy El Paso Electric

By Pam Martens and Russ Martens: November 4, 2019 ~ David Dayen of American Prospect has a must-read article. The headline and subhead read: “JPMorgan Gets Back Into the Electricity Business: An El Paso, Texas, electric utility is being purchased by an investment fund with deep, undisclosed ties to the big bank.” Dayen is not buying into the idea that it’s an investment fund at JPMorgan that’s buying El Paso Electric, a publicly traded electric utility, but that the deal is simply being “laundered through an allegedly independent investment fund,” due to the fact that “48 executives of the investment fund are actually paid employees of JPMorgan….” Why wouldn’t JPMorgan Chase want to admit that it plans to make an outright purchase of an electric utility company serving 429,000 customers in Texas and New Mexico? For starters, the bank has been charged, and admitted to, three criminal felony counts within … Continue reading
McDonald’s CEO Gets Fired for Relationship with Subordinate; Jamie Dimon Survives Three Felony Counts and an Organized Crime Trading Desk Charge

By Pam Martens and Russ Martens: November 4, 2019 ~ Corporate America is increasingly sending conflicting messages to its top executives: engaging in relationships with subordinates, consensual or otherwise, will cost you your job – but criminal acts involving looting the public, not so much. Steve Easterbrook, the CEO of the fast food chain, McDonald’s, was fired by his Board yesterday for engaging in a consensual relationship with an employee, in violation of company policy. The Board of the largest bank in the United States, on the other hand, JPMorgan Chase, has not fired its Chairman and CEO, Jamie Dimon, despite the following occurring on his watch: $6.2 billion in losses from a high-risk gamble with derivatives in London in 2012 – using, mind you, the deposits of its federally-insured bank. Then came 2014 when the bank was charged for its role in the Bernie Madoff Ponzi scheme. The Madoff … Continue reading
Fed Loans: These Charts Hold a Big Clue to the Liquidity Squeeze on Wall Street

By Pam Martens and Russ Martens: November 1, 2019 ~ Fed Chairman Jerome Powell had a Greenspan moment on Wednesday during his press conference. He made several Goldilocks statements about the banks that are going to come back to haunt him just as former Fed Chairman Alan Greenspan’s Alice in Wonderland remarks to Congress in the leadup to the greatest financial crash since the Great Depression have now made him appear to have been either lying to Congress or dangerously out of touch. It took just a few moments for us to pull up some charts to disprove the statements made by Powell. Powell stated the following during the Q&A portion of the press conference: “So, we monitor financial stability risks very carefully all of the time. It’s what we do since the financial crisis, as I’ve mentioned before. Currently, we don’t see large imbalances. This long expansion is notable … Continue reading
Fed’s Latest Plan for Bailing Out Wall Street Banks: Let Them Overdraft their Accounts at the Fed

By Pam Martens and Russ Martens: October 31, 2019 ~ Yesterday, following the announcement of another 1/4 point interest rate cut by the Federal Reserve’s Open Market Committee, Fed Chairman Jerome Powell held a press conference at 2:30 p.m. It proved to be an embarrassing and shameful example of New York City-centric business journalism. Seven business journalists from leading business news outlets that cover Wall Street asked questions in the first 23 minutes of the press conference. Not one of these reporters asked about the liquidity crisis on Wall Street that has resulted in the Fed offering $690 billion a week to 23 Wall Street securities firms and one foreign bank as well as a newly launched “don’t call it QE4” operation by the Fed to buy up $60 billion a month in Treasury bills from Wall Street dealers. The Fed began its repo loan interventions on September 17 of … Continue reading
New York Fed’s Repo Loans Are Foaming the Hedge Fund Runways

By Pam Martens and Russ Martens: October 30, 2019 ~ There is growing evidence that the New York Fed, the Wall Street feeding tube team of the Federal Reserve Board of Governors, is using its massive new repo loan operations to securities firms (primary dealers) to foam the Wall Street runways to try to avoid a crash landing as money gushes out of hedge funds by the tens of billions of dollars. According to a report at eVestment, investors pulled $29.37 billion from hedge funds in the third quarter of this year, bringing the total year-to-date to an eyebrow-raising $76.86 billion. That’s more than twice the amount that was withdrawn in all of last year. Hedge funds are highly-leveraged, so $76.86 billion in withdrawals could translate into hundreds of billions of dollars of liquidations in stock and bond markets. The report further notes that this is the “sixth consecutive quarterly … Continue reading
Federal Reserve Spokesman Explains How It Creates Money Out of Thin Air to Pump Out to Wall Street

By Pam Martens and Russ Martens: October 29, 2019 ~ On January 19, 2011, the Federal Reserve released a video on YouTube to quell the public uproar over its unaccountable money creation operations. The spokesman for the Fed in the video was their Senior Adviser at the time, Steve Meyer, now an Adjunct Professor of Finance at The Wharton School. The Fed was in the middle of its second round of quantitative easing (QE2) and Meyer states this: “The Fed will not keep buying large amounts of securities on an ongoing basis.” The Fed was so intent on conveying the “temporary” nature of its unprecedented actions that it put that statement by Meyer on the screen. (See screen shot above.) Meyer then immediately adds this about the Fed: “Its purchases are a temporary measure to help the economy recover.” But the Fed’s purchases were not temporary. On September 13, 2012 … Continue reading
The Fed Fears an Explosion on Wall Street: Here’s How JPMorgan Lit the Fuse

By Pam Martens and Russ Martens: October 28, 2019 ~ JPMorgan Chase is the largest bank in the United States with $1.6 trillion in deposits from more than 5,000 retail bank branches spread across the country. When it withdraws liquidity from the U.S. financial system, that has a reverberating impact. According to the filings that JPMorgan Chase makes annually with the Securities and Exchange Commission (SEC), since 2013 JPMorgan Chase has spent $77 billion buying back its own stock. That includes the whopping $17.01 billion it has spent in just the first nine months of this year buying back its stock. But here’s the shocking news. According to its SEC filings, JPMorgan Chase is partly using Federally insured deposits made by moms and pops across the country in its more than 5,000 branches to prop up its share price with buybacks. The wording in the filing is as follows: “In … Continue reading
Remembering Mark Pittman, the One Journalist Who Would Have Been All Over the Fed’s Latest Wall Street Bailouts

By Pam Martens and Russ Martens: October 25, 2019 ~ Today would have been Mark Pittman’s 62nd birthday. Pittman died of a heart attack at age 52 on November 25, 2009 in the midst of a pitched court battle with the Federal Reserve to obtain data on its secret loans to Wall Street. Writing for Bloomberg News, Pittman was one of the preeminent chroniclers during the financial crisis of the Federal Reserve’s hubris in refusing to shed any light on what eventually turned out to be an astounding $29 trillion of money it created out of thin air to bail out Wall Street’s mega banks and their foreign bank derivatives counterparties. Pittman had appeared in the documentary, American Casino, produced by Leslie and Andrew Cockburn. In that documentary, the Cockburns brilliantly pieced together for the American people the wealth transfer scheme concocted by the mega banks on Wall Street, which … Continue reading
Quietly, U.S. and Foreign Banks Have Increased their Borrowings from U.S. Money Market Funds

By Pam Martens and Russ Martens: October 25, 2019 ~ Memories are apparently very short at the Securities and Exchange Commission (SEC). The SEC seems to have forgotten that a run on money market funds holding bank commercial paper set off a panic after the Lehman Brothers bankruptcy filing on September 15, 2008. The government had to step in and guarantee the funds. Despite those disastrous days, the SEC has allowed money market funds being sold in the U.S. to hold a staggering $642 billion in the instruments of foreign banks, as of September 30, 2019. It categorizes those instruments as: certificates of deposits, time deposits, sponsored asset-backed commercial paper, and repurchase agreements (repos) where the bank is the counterparty. On top of the $642 billion in the instruments of foreign banks, the money market funds are holding another $292 billion in the instruments of U.S. banks, bringing the total … Continue reading