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Recent Posts
- 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
- The Curious Money Trail Behind the Supreme Court/Clarence Thomas Decision to Rescue a Federal Agency that Wall Street Hates
- Saudi Arabia’s Wealth Fund Dumps Its JPMorgan Chase Stock; Warren Buffett’s Berkshire Hathaway Did the Same in 2020
- One of Jeffrey Epstein’s Protectors at JPMorgan Chase, Mary Erdoes, Has Sold $29 Million of Her Stock in the Bank Since Just Before Epstein’s Arrest in 2019
- Delinquencies on Office Property Loans at Banks Are at 8 Percent While Office Loans the Banks Sold to Investors Show 31 Percent in Trouble
- Goldman Sachs Shines Up Its Swamp Creature Reputation by Rehiring Robert Kaplan as Vice Chairman – the Guy Who Traded Like a Hedge Fund Kingpin While President of the Dallas Fed
- Cleary Gottlieb – Outside Counsel to Wall Street’s Serially Bailed Out Megabanks – Tarnishes the FDIC Chair in its So-Called “Independent” Report
- JPMorgan Chase and Its Regulators Are Hiding Dark Trading Secrets at the Largest and Riskiest U.S. Bank
- Campus Protests Over Gaza Open a Pandora’s Box for Wall Street Megabanks that Underwrote $8 Billion of Israel’s Bonds in March
- Wall Street’s Megabanks Have Trillions of Dollars Off-Balance Sheet, in a Replay of Accounting Hubris that Led to the 2008 Wall Street Collapse
- JPMorgan Remains the Second Largest Money Market Fund Manager, Despite Needing Billions in Money Market Bailouts from the Fed in 2020
- The First Bank Failure of 2024 Leaves a 1-Cent Stock for Investors and $667 Million in Losses for the FDIC
- Catch and Kill Protection Rackets: Trump, Weinstein, Epstein and Wall Street
- Wall Street’s Judge Shopping Continues: It’s Trying to Stop the FTC’s Ban on Worker Handcuffs Known as Non-Compete Agreements
- The Fed Tallies Up a Big Threat to Financial Stability in the U.S.: “Runnables” at $21.3 Trillion
- Billionaire-Owned Media Has Gone Full Throttle to Save Fellow Billionaire, Jamie Dimon
- The Professor Who Wrote the Seminal Book on Wall Street Megabanks Calls Today’s Financial System “Dangerously Unstable”
- Gold Has Set Historic Highs this Year as the Federal Reserve Has Reported Historic Losses
- Stanford Finance Professor Anat Admati Is Making Jamie Dimon Very Nervous – Again Calling His Bank “Dangerous”
Category Archives: Uncategorized
Citigroup May Slash 24,000 Jobs; Its Stock Has Lost 92 Percent Since January 2007
![Jane Fraser, Citigroup CEO](https://wallstreetonparade.com/wp-content/uploads/2020/09/Jane-Fraser-iii-150x150.jpg)
By Pam Martens and Russ Martens: November 7, 2023 ~ On the first day of trading in January 2007 (the year prior to the Wall Street financial crisis in 2008 that saw century-old iconic financial firms explode one after another), Citigroup closed the trading day at $55.25. Yesterday, Citigroup’s common stock closed at an effective share price of $4.20. Citigroup did a 1-for-10 reverse stock split on May 9, 2011. That means that investors holding 100 shares of Citigroup back in January 2007 saw their position shrink to 10 shares after May 9, 2011. So yesterday’s closing price of $42.04 for Citigroup is effectively $4.20 for long-term shareholders, adjusting it for the reverse stock split. To put that in even starker terms, investors who have held onto this dog for almost 17 years have watched 92 percent of its share price vanish. More dire news on Citigroup came yesterday with a … Continue reading
There’s a News Black Out on the Strange Doings in the JPMorgan Chase/Jeffrey Epstein Sex Trafficking Case in Manhattan
![Jeffrey Epstein (left); Jamie Dimon (right).](https://wallstreetonparade.com/wp-content/uploads/2023/04/Jeffrey-Epstein-lelft-Jamie-Dimon-right..jpg)
By Pam Martens and Russ Martens: November 6, 2023 ~ There are extremely strange things happening in a very high-profile federal court case in Manhattan where the largest bank in the United States, JPMorgan Chase, stands accused by victims of facilitating Jeffrey Epstein’s sex-trafficking ring that sexually abused minors as the bank doled out $40,000 to $80,000 a month in hard cash for more than a decade without filing the legally required Suspicious Activity Reports. Further implicating the bank is the fact, documented by internal emails, that executives and staff of JPMorgan Chase were visitors to Epstein’s Manhattan mansion where rapes and sexual assaults of minors have been alleged by victims as occurring. (See our report: A JPMorgan Court Filing Shows Another Bank Exec Visited Jeffrey Epstein’s Sex-Trafficking Residences 13 Times – Two More Times than Jes Staley.) A recent entry on the docket of the case shows that a federal … Continue reading
WeSuck: First Came the Hype; then Came Adam Neumann’s Self-Dealing; then Came the IPO Scandal; Now Comes the Bankruptcy
![Adam Neumann](https://wallstreetonparade.com/wp-content/uploads/2019/08/Adam-Newman-We-iii.jpg)
By Pam Martens and Russ Martens: November 3, 2023 ~ WeWork, the flexible-office-space company, is the quintessential proof that you can’t put lipstick on a pig forever. On Tuesday, the Wall Street Journal reported that WeWork “ is planning to file for bankruptcy as early as next week….” On October 5, the credit ratings agency Fitch downgraded WeWork’s long-term debt deeper into junk bond territory after WeWork elected to withhold interest payments on its debt that were due Oct. 2. Year-to-date, the publicly-traded stock of WeWork has lost 98 percent of its value. Its shares were trading for pennies in August on the New York Stock Exchange when the financial wizards at the company came up with the idea to do a 1-for-40 reverse stock split in early September to put a little lip gloss on the pig. Yesterday, the stock closed at $1.11, which would mean that it actually closed at … Continue reading
17 Attorneys General and Two Claimants File Objections to JPMorgan Chase’s Tricked Up Settlement with Jeffrey Epstein Victims
![Judge Jed Rakoff](https://wallstreetonparade.com/wp-content/uploads/2022/01/Judge-Jed-Rakoff.jpg)
By Pam Martens and Russ Martens: November 1, 2023 The Attorneys General of 16 states and Washington, D.C. are challenging the settlement crafted by Big Law firm WilmerHale on behalf of JPMorgan Chase and by the high-profile lawyer, David Boies, on behalf of the sex-trafficked victims of the late Jeffrey Epstein. The class action settlement agreement was filed with the Federal District Court for the Southern District of New York in June. The court set a date of November 9 for the final Fairness Hearing – a legal requirement for class action settlements where the court must hear from any objectors impacted by the agreement. Depending on the strength of those objections, the Court could decide to reject the settlement as not “fair, adequate and reasonable” as required under Rule 23 for class actions, and ask the parties to go back to the drawing board. The state Attorneys General filing the objection … Continue reading
After Two Years, There’s Still No Law Enforcement Report on Former Dallas Fed President Robert Kaplan’s Trading Like a Hedge Fund Kingpin
![Robert Kaplan, President of the Dallas Fed](https://wallstreetonparade.com/wp-content/uploads/2021/09/Robert-Kaplan-President-of-the-Dallas-Fed-125x150.jpg)
By Pam Martens and Russ Martens: October 31, 2023 ~ To understand how truly bizarre and alarming the trading scandal case involving former Dallas Fed President Robert Kaplan is, some important background is necessary: Kaplan didn’t just trade in and out of stocks while a voting member of the interest-rate setting committee of the Fed (known as the Federal Open Markets Committee or FOMC); Kaplan also traded in and out of $1 million+ lots of S&P 500 futures. That is astonishing; unprecedented; and lacks any viable justification for a sitting Fed official. (See Kaplan’s financial disclosure forms from 2015 through 2020 while employed at the Dallas Fed.) Kaplan resigned from the Dallas Fed in September 2021, the same month that the trading scandal went viral in the news. S&P 500 futures allow an individual to trade almost around the clock from Sunday evening to Friday evening, unlike stock exchanges in the U.S. … Continue reading
Jamie Dimon Craters Bank Stocks on Friday with Plans to Sell One Million Shares of JPMorgan Chase; Warren Buffett Isn’t Smiling
![Jamie Dimon, Chairman and CEO of JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/07/Jamie-Dimon-Film-Grain-100pix.jpg)
By Pam Martens and Russ Martens: October 30, 2023 ~ Last Friday, at 6:32 a.m. ET, headlines started rolling with the news that Jamie Dimon, the long-tenured Chairman and CEO of the largest bank in the United States, JPMorgan Chase, was going to start selling a significant part of his sizeable stock holdings in the bank next year. The revelation came in an 8K filing with the SEC and noted that he and his family “currently intend to sell 1 million shares,” leaving open the door that he and his family might decide to sell more. The 8K filing also stated that “This is Mr. Dimon’s first such stock sale during his tenure at the company.” The reality is that Dimon, his wife and his Trusts held over 10 million common shares of JPMorgan Chase in 2017 according to SEC filings and now they hold 8.6 million shares, according to a May … Continue reading
Mike Johnson, “Champion of the Fossil Fuel Industry” and Climate Change Denier Elected as Speaker of the United States House of Representatives
![Congressman Mike Johnson of Louisiana, the New Speaker of the House of Representatives](https://wallstreetonparade.com/wp-content/uploads/2023/10/Congressman-Mike-Johnson-of-Louisiana-the-New-Speaker-of-the-House-of-Representatives.jpg)
By Pam Martens and Russ Martens: October 26, 2023 ~ Most people in America have never heard of the newly elected Speaker of the House of Representatives, Congressman Mike Johnson of Louisiana. Billionaire Charles Koch, the fossil fuel kingpin and self-anointed head of the right-wing political money machine, probably likes it that way. Koch is likely hoping that Americans will just breathe a sigh of relief that the House of Representatives finally has a leader and not look any deeper into who was handed the reins. According to OpenSecrets.org, the nonprofit watchdog of campaign money, the largest industry supporting Johnson since his first federal campaign in 2015 is the oil and gas industry, which has infused $338,000 into Johnson’s campaign coffers. Of that amount, $30,000 came from the Koch Industries PAC, where Charles Koch has sat as the Chairman and CEO for 56 years. Within hours of the news that Johnson was … Continue reading
The Dow Went Negative for the Year on Friday. One-Third of the Dow Is Down by Double-Digits.
![Federal Reserve Building, Washington, D.C.](https://wallstreetonparade.com/wp-content/uploads/2020/05/Federal-Reserve-Building-Washington-D.C.-iii-150x105.jpg)
By Pam Martens and Russ Martens: October 24, 2023 ~ The Dow Jones Industrial Average of 30 big-cap stocks closed out last year on Friday, December 30, 2022 at 33,147.25. After setting a year-to-date low of 31,819.14 on March 13 of this year during the banking crisis (a negligible decline of 4 percent year-to-date), the Dow climbed its way back to a year-to-date high of 35,630.68 on August 1. Since then, the Dow has been setting sharply lower lows – a sign of deterioration in its components. The Dow again went negative year-to-date last Friday, October 20, closing at 33,127.28. Equally notable, 20 components of the Dow 30, or two-thirds of the components, were negative year-to-date as of the close yesterday, October 23. Ten of the Dow’s components were down by double-digits year-to-date, through October 23. (See chart below.) The Dow index reading would be looking far worse were it not for … Continue reading
Fed’s Financial Stability Report Says $20.3 Trillion Is Subject to a Run
![Fed Chair Jerome Powell at Press Conference on November 2, 2022](https://wallstreetonparade.com/wp-content/uploads/2022/11/Fed-Chair-Jerome-Powell-at-Press-Conference-on-November-2-2022.jpg)
By Pam Martens and Russ Martens: October 24, 2023 ~ Last Friday, the Federal Reserve published its Financial Stability Report, which takes a detailed look at U.S. financial stability through the second quarter of this year. Although the Fed does its best to put a rosy glow on the outlook, it’s not a pretty picture. We found the most disturbing sentence in the report to be the following: “Overall, estimated runnable money-like financial liabilities increased 3.4 percent to $20.3 trillion (75 percent of nominal GDP) over the past year.” Given that a handful of banks this past spring, with combined liabilities of less than $1 trillion, caused a full blown banking panic and bank runs, the Fed’s figure of $20.3 trillion of “runnable” money is not a comforting thought. The Fed elaborates as follows: “The banking industry maintained a high level of liquidity overall, but some banks continued to face funding pressures; meanwhile, structural vulnerabilities … Continue reading
Regional Bank Stocks Plunge on Friday; More Pain Ahead as 10-Year Treasury Note Trades at a 5 Percent Yield This Morning
![](https://wallstreetonparade.com/wp-content/uploads/2013/08/Stock-Chart.jpg)
By Pam Martens and Russ Martens: October 23, 2023 ~ As the chart above indicates, Friday was not a good day to own regional bank stocks. The percentage declines are just for the one day of trading on Friday — not the year-to-date percentage losses. After the bank runs this past spring at regional banks brought on the second, third and fourth largest bank failures in U.S. history, things had quieted down in recent months. Then, along came earnings announcements last week, showing renewed struggles among the regional banks. One of the big losers for the week was Zions Bancorp. Its shares plunged 9.7 percent on Thursday and another 7.07 percent on Friday. The bank posted poor year-over-year comparisons on net interest income as it experienced rising expenses to compete for deposits. Another plunging bank stock on Friday was Regions Financial. The bank is facing continuing pressure on its net interest income. … Continue reading