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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
Category Archives: Uncategorized
Charts Suggest the Dow Index Is Being Painted to Get “New Highs” in the Market
![](https://wallstreetonparade.com/wp-content/uploads/2014/10/New-York-Stock-Exchange-150x139.jpg)
By Pam Martens and Russ Martens: July 12, 2019 ~ What we need today is a real life character like Vinny Gambini in the movie My Cousin Vinny to take over the questioning for the U.S. Senate Banking Committee – like Ferdinand Pecora did in the early 1930s to root out the systemic frauds in the stock market of that era. Gambini would haul the heads of equities trading for each of the major Wall Street banks and their Dark Pools to a hearing, put them under oath, and grill them about the highly suspicious trading activity that is going on in today’s markets. Let’s start with what happened yesterday. In the face of punk earnings forecasts for the rest of this year and a growing global economic slowdown, the Dow Jones Industrial Average hit a historic milestone, closing above 27,000 for the first time. But the rising tide didn’t … Continue reading
Is There a Stealth Financial Crisis? Alarm Bells Are Ringing.
![Withdrawals from His Flagship Fund on June 3, 2019 (Photo from Publicly Released Video)](https://wallstreetonparade.com/wp-content/uploads/2019/07/Neil-Woodford-a-High-Profile-Money-Manager-in-the-U.K.-Freezes-Withdrawals-from-His-Flagship-Fund-150x150.jpg)
By Pam Martens and Russ Martens: July 11, 2019 ~ Shhh! Don’t wake the Wall Street bank regulators from their decade-long slumber to whisper in their ear that the same critical signs they ignored in 2007 and early 2008 are rearing their ugly heads again. Let’s take a look at the clear warning signs that began in July 2007 and then contrast them against what is happening today. On July 17, 2007 Bear Stearns announced that two of its hedge funds, which had held about $1.5 billion in investor capital in the first quarter of the year, were now mostly worthless. On August 9, 2007 BNP Paribas, France’s largest publicly traded bank, announced it was freezing customer withdrawals from three of its funds, effectively preventing customers from accessing $2.2 billion. It cited “evaporation of liquidity,” and the inability “to value certain assets,” as a reason. Fast forward to today: On … Continue reading
With Three Felony Counts Already, Did JPMorgan Chase Really Need to Own a Ship Containing 20 Tons of Cocaine?
![MSC Gayane Container Ship](https://wallstreetonparade.com/wp-content/uploads/2019/07/MSC-GAYANE-2-150x99.jpg)
By Pam Martens and Russ Martens: July 10, 2019 ~ Jamie Dimon, Chairman and CEO of the Wall Street mega bank, JPMorgan Chase, has weathered one scandal after another during his tenure, including the bank pleading guilty to an unprecedented three criminal felony counts in the past five years. Now the bank is back in the news for owning a massive container ship which was seized last week in the Philadelphia seaport by U.S. Customs and Border Protection following the discovery of 20 tons of cocaine located in containers on the ship on June 17. The cocaine is estimated to have a street value of $1.3 billion. The container vessel is the MSC Gayane and was being operated by the global shipping firm, Mediterranean Shipping Company (MSC). The vessel is the largest ever to be seized in the 230-year history of U.S. Customs and Border Protection, according to the CBP’s … Continue reading
Following Deutsche Bank’s News, Every Major Wall Street Bank Closed in the Red Yesterday
![Deutsche Bank Headquarters in Frankfurt, Germany](https://wallstreetonparade.com/wp-content/uploads/2016/10/deutsche-bank-150x150.jpg)
By Pam Martens and Russ Martens: July 9, 2019 ~ As of early this morning, Deutsche Bank’s restructuring plan is looking a lot like the lifeboat plan for the Titanic. Research analysts have expressed skepticism that the plan will work and the bank’s stock performance is backing up that assessment. In overnight trading in Frankfurt, the stock had cumulatively lost 10 percent of its value in less than two days of trading since the details of its restructuring were made public. Deutsche Bank’s shares also trade on the New York Stock Exchange, which opens at 9:30 a.m. Deutsche Bank is widely known to be a major derivatives counterparty – meaning its fate could have a spillover effect on other major banks which have taken the opposite sides of its derivatives trades. Notably, every major Wall Street bank closed in the red yesterday with two, Morgan Stanley and Goldman Sachs, outpacing … Continue reading
This Will Make You Rethink All that Talk about the Stock Market’s New Highs
![](https://wallstreetonparade.com/wp-content/uploads/2018/07/Wallstreet-Bull-Thumbnail-150x114.jpg)
By Pam Martens and Russ Martens: July 9, 2019 ~ On October 3, 2018 the Dow Jones Industrial Average closed at 26,828. Yesterday, the same stock market index that is watched around the world closed at 26,806 – a loss of 22 points from where it stood nine months ago. If you’ve been invested all this time you’ve essentially gone nowhere plus you’ve had the not so rollicking fun of that brutal 4,000-point plunge from December 3 to Christmas eve 2018, which took the Dow from a close of 25,826 on December 3 to a Christmas eve close of 21,792. So the next time you read that the Dow is setting new highs, do the math and see just how many points you’ve actually gained since October 3, 2018.
Meet the JPMorgan Whale that Ate Deutsche Bank’s Stock Trading Business
![](https://wallstreetonparade.com/wp-content/uploads/2012/09/JPMorgans-Whale-of-a-Problem-150x141.png)
By Pam Martens and Russ Martens: July 8, 2019 ~ Yesterday, Deutsche Bank announced it would be cutting its payroll by approximately 18,000 jobs over the next three years and exiting its stock trading business, along with other restructuring moves like creating a “bad bank” to hold toxic assets. What could possibly force a global bank to shed stock trading? According to the most recent report from the Office of the Comptroller of the Currency (OCC), the regulator of national banks in the United States, four U.S. commercial banks made $8.79 billion in trading revenues in the first quarter of this year. Of that amount, JPMorgan Chase Bank NA represented 60 percent or $5.29 billion. (The other three banks were Citibank, Goldman Sachs Bank USA and Bank of America.) Just to be clear, this is not how much each bank made from trading in all their divisions, this is just … Continue reading
The Fed and Wall Street Have their Worry Beads Out Over Deutsche Bank’s “Bad Bank” Idea
![Deutsche Bank Headquarters in Frankfurt, Germany](https://wallstreetonparade.com/wp-content/uploads/2016/10/deutsche-bank-150x150.jpg)
By Pam Martens and Russ Martens: July 5, 2019 ~ According to press reports around the globe, there’s going to be a hot confab this Sunday by the Board of Deutsche Bank that will focus on the potential to create a so-called “bad bank” to hold some of Deutsche’s toxic assets along with discussions of cutting 15,000 to 20,000 employees from the payroll – meaning as many as one out of every five employees could get the axe. A big part of the job losses will hit Manhattan where Deutsche Bank has a heavy presence on Wall Street — which it plans to severely pare back. Here’s the short version on why the bank is contemplating these radical moves: Deutsche Bank has reported losses in three of the last four years; its share price has lost 90 percent of its value since February of 2007; as of the close … Continue reading
Paul Weiss, the Law Firm that Has Represented Citigroup through Serial Fraud Charges, Is the Number One Donor to Democratic Presidential Hopeful Kamala Harris
![Senator Kamala Harris, Speaking at the Second Democratic Presidential Debate in Miami on June 27, 2019](https://wallstreetonparade.com/wp-content/uploads/2019/07/Senator-Kamala-Harris-Speaking-at-the-Second-Democratic-Presidential-Debate-in-Miami-on-June-27-2019-ii-150x150.jpg)
By Pam Martens and Russ Martens: July 3, 2019 ~ According to the Center for Responsive Politics, which keeps meticulous tabs on political campaign flows, as of this morning, the law firm Paul, Weiss, Rifkind, Wharton & Garrison – which has represented Citigroup through more than two decades of serial fraud charges – is the number one campaign donor to the Democratic Presidential hopeful Senator Kamala Harris. As the Center notes, the money isn’t coming from the law firm itself, but from its “PACs; their individual members, employees or owners; and those individuals’ immediate families.” The campaign ad for Harris reads like this: “Kamala Harris has spent her entire life defending our American values. From fighting to fix our broken criminal justice system to taking on the Wall Street banks for middle class homeowners, Kamala has always worked For The People.” But here we are in the early days of … Continue reading
Economist Nouriel Roubini Compares Crypto Coin Market to “Cocaine’s Drug Pushers”
![Bitcoin Graphic](https://wallstreetonparade.com/wp-content/uploads/2019/07/Bitcoin-Graphic-150x150.jpg)
By Pam Martens and Russ Martens: July 2, 2019 ~ While the Securities and Exchange Commission and Congress finesse a delicate dance around the potential criminality of Bitcoin trading and other cryptocurrencies, NYU Professor and economist Nouriel Roubini has launched a savage attack on the “currencies,” calling them “a joke,” a “scam,” a “sh*tcoin,” and no better than “cocaine drug pushers.” Not to put too fine a point on it, but Roubini is also the man who correctly called the impending financial crisis that landed in 2008 while Federal regulators wore their blinders about the corruption and leverage building inside the largest banks on Wall Street. Roubini, a long-time critic of Bitcoin, has launched his fiercest comments on cryptocurrencies in the past 24 hours on his Twitter page and in an interview on Bloomberg TV. In the Bloomberg interview, Roubini had this to say: “Crypto currencies are not even currencies. … Continue reading
Reimagining the Structure of Wall Street in the National Interest
![New York Stock Exchange](https://wallstreetonparade.com/wp-content/uploads/2018/08/New-York-Stock-Exchange-150-pix-150x134.jpg)
By Pam Martens and Russ Martens: July 1, 2019 ~ The current fragmented, opaque, and deeply conflicted structure of the U.S. stock market as well as the structure of the giant Wall Street banks that interact in every imaginable way with capital formation in America, is not in the public interest, the national interest or in the interest of capitalism itself. Let’s start with the structure of the stock market. Those quaint video clips that you see on television of traders mulling about on the floor of the New York Stock Exchange at 11 Wall Street in Manhattan, as executives from some new company that just listed its shares ring the bell to begin stock trading, is meant to lull the public into a sense of confidence that humans are still in charge and looking out for your retirement investments in your 401(k) or public pension plan. But 11 Wall … Continue reading