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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
After a $354 Billion U.S. Bailout, Germany’s Deutsche Bank Still Has $49 Trillion in Derivatives
![Deutsche Bank Headquarters in Frankfurt, Germany](https://wallstreetonparade.com/wp-content/uploads/2016/10/deutsche-bank-150x150.jpg)
By Pam Martens and Russ Martens: April 17, 2019 ~ On July 21, 2011, when the GAO released its audit of the Federal Reserve’s secret $16.1 trillion in bank loans during the financial crisis, a foreign bank ranked number 9 on the list of the largest borrowers. The loans went not just to the largest banks on Wall Street but to foreign derivative counterparties to the Wall Street banks. The foreign bank that ranked 9 on the list of the largest borrowers was Germany’s largest bank, Deutsche Bank, which took $354 billion in revolving loans from the U.S. Federal Reserve. According to an article in the Financial Times last week “Germany’s federal and state governments have spent €70bn on bailing out banks since the financial crisis, according to an estimate by Gerhard Schick, head of lobby group Finance Watch.” The figure of €70bn is about 79 billion U.S. dollars. Why … Continue reading
Deutsche Bank: Here’s What Maxine Waters Should Be Subpoenaing
![](https://wallstreetonparade.com/wp-content/uploads/2016/08/Systemic-Risk-Among-Deutsche-Bank-and-Global-Systemically-Important-Banks-150x150.jpg)
By Pam Martens and Russ Martens: April 16, 2019 ~ According to today’s New York Times, Democrats now in charge of the House Intelligence and Financial Services Committees, have issued subpoenas to Deutsche Bank, JPMorgan Chase, Bank of America and Citigroup, related to the President’s finances and/or Russian money laundering. We’d like to suggest that while that may well be a fruitful avenue of inquiry (see Russian Bank Chairman Met with Kushner, Citigroup and JPMorgan Chase), it does not rise to the level of national security risk posed by the derivative interconnectedness of those same banks. The President’s approximate $300 million in loans from Deutsche Bank and its ties to Russian money laundering, pales in comparison to trillions of dollars in interconnected derivative exposure of these same banks. Americans saw what can happen when Congress ignores repeated red flags about derivatives. From 2008 through 2010 when derivatives and subprime debt … Continue reading
This Goldman Sachs Chart Explains the 2008 Financial Collapse and Why Wall Street Is Still a Dangerous Casino
![](https://wallstreetonparade.com/wp-content/uploads/2019/04/Goldman-Sachs-Top-Derivative-Counterparties-Exposure-June-2008-iii-1-150x105.jpg)
By Pam Martens and Russ Martens: April 15, 2019 ~ If you want to very quickly understand why banks stopped lending to one another in 2008, credit markets froze, bank stock prices collapsed, and the Federal Reserve secretly pumped $16 trillion into banks, just take a few moments to study this chart from the Financial Crisis Inquiry Commission of the derivatives casino that Goldman Sachs and the major banks on Wall Street had become in June of 2008. Wall Street banks knew they had created a collapsing house of cards but they didn’t know just how much exposure each bank had or which bank would fail first, so they simply stopped lending to each other, causing a run on the banks. Now, take a deep breath, because we have to tell you that if there was a derivatives graph of every other major Wall Street bank in June of 2008, … Continue reading
Research Study on Ongoing Crime Spree by Wall Street Mega Banks Gets News Blackout: Here’s Why
![](https://wallstreetonparade.com/wp-content/uploads/2019/04/Better-Markets-iii-150x150.jpg)
By Pam Martens and Russ Martens: April 12, 2019 ~ One day before Democrats on the House Financial Services Committee held an historic grilling of the CEOs of the mega banks on Wall Street, the nonprofit watchdog, Better Markets, released an in-depth research report on “Wall Street’s Six Biggest Bailed-Out Banks: Their RAP Sheets & Their Ongoing Crime Spree.” The report detailed facts, figures and this inescapable conclusion: “[Six Wall Street mega banks] have engaged in—and continue to engage in—a crime spree that spans the violation of almost every law and rule imaginable. Taking the breadth and depth of their illegal conduct as a whole, the six biggest banks in the country look like criminal enterprises with RAP sheets that would make most career criminals green with envy. That was the case not just before the 2008 crash, but also during and after the crash and their lifesaving bailouts…In fact, … Continue reading
Tough Questioning Turns Jamie Dimon into a Piñata at House Hearing
![Katie Porter](https://wallstreetonparade.com/wp-content/uploads/2019/04/Katie-Porter-iii-150x150.jpg)
By Pam Martens and Russ Martens: April 11, 2019 ~ What a difference a day makes. On April 9, the day before JPMorgan Chase CEO Jamie Dimon was to testify at a House Financial Services Committee hearing along with six of his fellow mega bank CEOs, his legions of publicists and handlers still thought there might be a presidential run in his future. Today, not so much. You know just how torturous the day was for Dimon when the worst part wasn’t his being forced to admit that his bank previously accepted African-American slaves as collateral for loans. That line of questioning came from Congressman Al Green of Texas. Green said that his ancestors were slaves and asked Dimon if it was true that JPMorgan Chase had released information in 2005 “indicating that it directly benefited from slavery” and had made loans using slaves as collateral. Dimon said he believed … Continue reading
Here’s Why Wall Street Bank CEOs Started to Sweat Yesterday about Today’s House Hearing
![](https://wallstreetonparade.com/wp-content/uploads/2019/02/Wall-Street-Bank-CEOs-Are-Grilled-at-House-Hearing-February-11-2009-150x150.jpg)
By Pam Martens and Russ Martens: April 10, 2019 ~ At 8:00 a.m. yesterday, Politico’s Ben White and Aubree Eliza Weaver dropped the news nugget that the nonprofit watchdog, Better Markets, would be releasing one day ahead of today’s House hearing with the CEOs of the largest banks on Wall Street a report titled: “The RAP Sheet for Wall Street’s Biggest Banks’ Crime Spree,” which promised to detail, for the first time, “that of the more than $29 trillion in total bailouts, the six biggest banks in the country (Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo) received more than $8.2 trillion, or nearly one-third of the total bailouts provided to the entire financial system.” Wall Street On Parade has been reporting since 2012 that of the secret $16 trillion bailout loans made at almost zero interest rates by the Federal Reserve during the financial … Continue reading
Wall Street Bank CEOs Head for Grilling Tomorrow on Capitol Hill
![](https://wallstreetonparade.com/wp-content/uploads/2019/04/Maxine-Waters-Chair-of-House-Financial-Services-Committee-Giving-Opening-Remarks-at-Wells-Fargo-Hearing-on-March-12-2019-150x150.jpg)
By Pam Martens and Russ Martens: April 9, 2019 ~ The Democrats are now in charge at the U.S. House of Representatives’ Financial Services Committee and they’re proving that they’re not afraid to take on the legions of Wall Street lobbyists and lawyers in order to do their job for the American people. Tomorrow, Democrats on the Committee will be grilling the CEOs of seven of the largest Wall Street banks. The Republican Committee members, if history is any guide, will be lauding the bankers based on talking points delivered by the banks’ public relations and lobbying firms. Democrats took over the House in January and Congresswoman Maxine Waters became the Chair of the House Financial Services Committee at that time. Waters has served on this Committee for the past 28 years – a period in which she has observed unending frauds against the investing public by the mega banks … Continue reading
Steve Eisman and FrontPoint Were Shorting Wall Street Banks While the Dumb Fed Was Giving FrontPoint Emergency Loans – and that’s not the Worst Part of this Story
![](https://wallstreetonparade.com/wp-content/uploads/2018/08/wall-street-sign-thumbnail-150x149.jpg)
By Pam Martens and Russ Martens: April 8, 2019 ~ Steve Eisman is one of the central characters in the Michael Lewis bestselling book, The Big Short. In the movie of the same name, Steve Carell portrays Eisman’s role under the name Mark Baum. During the financial crisis of 2008, Eisman was working for FrontPoint Partners LLC, a hedge fund unit of Morgan Stanley which has been widely acknowledged to have made a boatload of money shorting subprime collateralized debt obligations (CDOs) filled with subprime residential mortgages. In other words, Eisman and FrontPoint were hoping to profit on American homeowners being unable to pay their tricked-up mortgages and being thrown out on the street. But according to Lewis, Eisman was not just shorting subprime drek – he was also shorting the teetering Wall Street banks, which were, by the way, holding trillions of dollars in Federally insured deposits of Moms … Continue reading
Herman Cain, the Kochs and that Creepy Smoking Ad
![](https://wallstreetonparade.com/wp-content/uploads/2019/04/Mark-Block-Chief-of-Staff-to-Herman-Cain-During-His-Presidential-Bid-Smokes-a-Cigarette-in-Advertisement-for-Cains-Campaign-ii-150x150.jpg)
By Pam Martens and Russ Martens: April 5, 2019 ~ President Donald Trump announced yesterday from the Oval Office that he is recommending Herman Cain for a seat on the Federal Reserve Board of Governors, calling him “a terrific person” and saying “I’ve told my folks that’s the man.” Cain was a presidential contender in the Republican Party in 2011 until sexual harassment charges derailed his bid. Trump’s announcement came just weeks after Trump proposed Stephen Moore for an additional open seat on the Fed. Both Cain and Moore have had close ties to Americans for Prosperity, a corporate front group tied to the Tea Party movement and created with money from the billionaire Koch brothers, Charles and David. The Koch brothers are majority owners of the fossil fuels conglomerate, Koch Industries. Scott Keyes, writing for Think Progress in 2011, reported that “Cain held an official position in the Koch-funded … Continue reading
An Open Letter to Australians: Only Glass-Steagall Can Save You from the Banks
![President Franklin Delano Roosevelt Signing the Glass-Steagall Act on June 16, 1933](https://wallstreetonparade.com/wp-content/uploads/2014/12/Present-Franklin-Delano-Roosevelt-Signing-the-Glass-Steagall-Act-on-June-16-1933-150x150.jpg)
By Pam Martens: April 4, 2019 ~ Dear Engaged Citizens in Australia: As both the interim and final report from your Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has confirmed, the good, decent, hardworking people of Australia are under attack from their own banking system in a manner reminiscent of an attack from a foreign invader that wants to destroy the will and financial resources of the citizens in order to gain absolute control of the country. Americans, more than any other people in the world, can understand and relate to the precarious predicament in which you now find yourselves. The devious vices and devices of your banksters to transfer the meager savings of the common man and woman to their own greedy pockets have been laid bare by your Royal Commission. But just as happened here in the United States following the report of … Continue reading