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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
The Kavanaugh Nomination’s Money Trail Leads Back to Clarence Thomas
By Pam Martens and Russ Martens: September 26, 2018 ~ The dark money stench now surrounding the Brett Kavanaugh Supreme Court nomination bears a striking resemblance to what happened in the backdoor effort to land Clarence Thomas onto the Supreme Court in 1991. After credible testimony from Anita Hill over egregious sexual harassment by the nominee, Thomas was confirmed in a 52 to 48 vote by the Senate on October 15, 1991. That was the narrowest margin for a Supreme Court nominee in more than a century. In 2011 it emerged that Virginia Thomas, wife of Clarence Thomas, had received at least $1,051,214 in compensation from the Heritage Foundation from 1999 to 2007 while Thomas sat as a Supreme Court justice. Despite his legal requirement to report that income and its source, he had failed to do either and had to amend years of his financial disclosure reports. The Heritage … Continue reading
Kavanaugh’s Fox News Interview: Dark Money Transforms Him into a High School Virgin Who Went to Church Every Sunday
By Pam Martens and Russ Martens: September 25, 2018 ~ Last evening we got a sneak peek at what all of that coaching of Supreme Court nominee Brett Kavanaugh at the White House over the past two months has done for his demeanor under fire. He’s now effectively been turned into a cross between Fred Rogers, the beloved host of the children’s show Mister Rogers’ Neighborhood and Ward Cleaver, the wholesome dad in the 1950s sitcom, Leave It To Beaver. In an interview last evening with Fox News host Martha MacCallum, Kavanaugh sat next to his wife Ashley and did everything just short of singing the refrain “look at me I’m Sandra Dee, lousy with virginity.” Kavanaugh told MacCallum that he was a virgin throughout his high school years and “many years after.” What he focused on at his elite private high school known as Georgetown Preparatory in North Bethesda, … Continue reading
It’s Now Three Women Accusing Kavanaugh with “Significant Evidence” of Gang Rape
By Pam Martens and Russ Martens: September 24, 2018 ~ Yesterday, two of the most trusted reporters in America, Ronan Farrow and Jane Mayer of The New Yorker, reported that Senate Democrats are investigating a second sexual assault allegation against Supreme Court nominee Brett Kavanaugh. The second charge comes from a woman who attended Yale University when Kavanaugh was a freshman there in the 1983-84 school year. The women, Deborah Ramirez, told the reporters that “she remembers Kavanaugh had exposed himself at a drunken dormitory party, thrust his penis in her face, and caused her to touch it without her consent as she pushed him away.” Like Dr. Christine Blasey Ford, the first woman to accuse Kavanaugh of sexually assaulting her when she was 15 and he was 17, Ramirez is also calling for the FBI to investigate the incident. Dr. Ford, a professor in clinical psychology in California, is … Continue reading
There’s a New Bible Out for Defeating the Trump Era and Its Corporate Masters
By Pam Martens and Russ Martens: September 21, 2018 ~ Wall Street On Parade has repeatedly called attention to the fact that President Donald Trump, who ran on a fiercely populist platform of helping the little guy, infused his administration from the get-go with lawyers and executives connected to the fossil fuels conglomerate, Koch Industries, and/or front groups funded by its two majority owners, billionaires Charles and David Koch. Now a step-by-step guide has been published on how to defeat the new-age robber barons, the corporate structure that made them billionaires while leaving workers with crumbs, and the enshrined political system that marches to the crack of their unaccountable whip. Released by Cambridge University Press on August 31, the book is titled “A Manifesto for Social Progress: Ideas for a Better Society,” by Marc Fleurbaey, Professor in Economics and Humanistic Studies at Princeton University and a prolific social justice author. … Continue reading
What a Mike Bloomberg or Jamie Dimon Presidency Would Look Like
By Pam Martens and Russ Martens: September 20, 2018 ~ Michael Bloomberg served three terms as New York City’s Mayor from January 2002 to January 2014. In 2009, the New York Times reported that Bloomberg had spent “$261 million of his own money” in order to get elected to those three terms as Mayor. When Bloomberg took office, there was a two-term limit in place which had been voted on in public referendums in 1993 and 1996. But two years before Bloomberg’s second four-year term ended, he asked the City Council to repeal the two-term limit to allow him to serve a third term. Because voters had already expressed their will in a public referendum twice, numerous members of the City Council felt it would be unethical for them to repeal that decision and that the matter should be determined by another voter referendum. But the City Council went forward … Continue reading
SEC: Citigroup Ran a Secret, Unregistered Stock Exchange for More than Three Years
By Pam Martens and Russ Martens: September 19, 2018 ~ Last Friday, the Securities and Exchange Commission issued a 372-word press release that carried the title SEC Charges Citigroup for Dark Pool Misrepresentations. Buried within that press release was a brief sentence casually mentioning that a division of Citigroup had “failed to register as a national securities exchange.” Since the thrust of the SEC’s press release was that the big travesty Citigroup had committed was to allow high frequency traders to operate within one of its Dark Pools while lying to its customers about that, this became the sole focus in multiple news articles on the matter. See here and here. The SEC also buried the information that Citigroup was running an illegal stock exchange within its cease-and-desist order and settlement document. In fact, what the SEC actually did was to dump two vastly different violations of security law – … Continue reading
Senator Orrin Hatch Calls Kavanaugh Accuser “Mixed Up,” Prior to Hearing Her Testimony
By Pam Martens and Russ Martens: September 18, 2018 ~ Senator Orrin Hatch of Utah, who effectively conducted himself as Clarence Thomas’s attorney instead of as an impartial member of the Senate Judiciary Committee during Anita Hill’s testimony on October 11, 1991, is still using the strategy of “nut-shaming” women who accuse men of sexual misconduct. Yesterday, Hatch, still a member of the Senate Judiciary Committee that holds confirmation hearings for Supreme Court nominees, told reporters that Christine Blasey Ford, who has credibly accused Supreme Court nominee Brett Kavanaugh of sexual assault, is “mixed up.” Adding to the outrage over Hatch’s statement is the fact that he made his “mixed up” remark about Ford before he heard her testimony, which is scheduled to take place before the Senate Judiciary Committee on Monday, with Kavanaugh also invited to testify. In a letter that has been published by CNN, Ford, a research … Continue reading
America Has an Infrastructure Crisis: Gas Pipes Exploding; Concrete Basements Collapsing; Lead in Water; the 100-Year Flood that Comes Annually
By Pam Martens and Russ Martens: September 17, 2018 ~ As thousands of residents of North and South Carolina remain in shelters in the aftermath of catastrophic flooding from Hurricane Florence, zoning and planning boards across America are signing off on the plans of developers to build new communities in areas with inadequate water drainage and runoff facilities. At the same time, large expanses of lush native vegetation with the ability to absorb heavy rains are being replaced with concrete sidewalks and driveways, exacerbating the flooding problem. Government safeguards against over-development are being rolled back or simply ignored in towns and cities across the country by officials too cozy with moneyed developers who finance the government officials’ political campaigns. Last Thursday, 8600 customers of Columbia Gas in the towns of Lawrence, Andover, and North Andover, Massachusetts were ordered from their homes as more than 60 area homes erupted in flames and … Continue reading
Company Involved in Massachusetts Gas Explosions Has History of Blasts
By Pam Martens and Russ Martens: September 14, 2018 ~ As thousands of people were fleeing their coastal homes in the Carolinas yesterday to be safe from the approaching wrath of Hurricane Florence after five days of warnings, thousands more were forced from their homes in Lawrence, Andover, and North Andover, Massachusetts yesterday. The Massachusetts evacuations came without prior warning as more than 60 homes erupted in flames yesterday and at least three exploded from a natural gas malfunction involving the utility company, Columbia Gas of Massachusetts. Andover Fire Chief Michael Mansfield told local reporters that “It looked like Armageddon,” saying he could see “billows of smoke coming from Lawrence behind me” and “pillars of smoke in front of me from the town of Andover.” The Associated Press reported that “some local officials described scenes of panic as residents rushed to evacuate, many wondering if their homes would be next … Continue reading
For Over a Century, the New York Times Has Praised Big Bank Consolidation
By Pam Martens and Russ Martens: September 13, 2018 ~ For more than a century, the New York Times has championed some of the most despised men on Wall Street in their power grabs of other banks. The resulting mega bank concentration has crippled competition, crippled democracy in the U.S. and led to unprecedented wealth and income inequality in our nation. And yet, to many Americans, the New York Times is considered a progressive newspaper. It is notable that the New York Times was founded with big bank money. Adolph S. Ochs purchased the New York Times in 1896 for $75,000. John Pierpont Morgan Sr. of the powerful Wall Street bank, JPMorgan, provided $25,000 of that money. When the Times celebrated its 100th anniversary in 1996, it noted that the Pierpont Morgan Library was exhibiting “the original letter Ochs wrote to his wife, Effie, describing a meeting he had with … Continue reading