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Recent Posts
- Three Megabanks Had Loans Outstanding of $1.832 Trillion to Giant Hedge Funds on March 31
- 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
Category Archives: Uncategorized
Schneiderman Falls, Vance to Investigate
![](https://wallstreetonparade.com/wp-content/uploads/2018/05/Eric-Schneiderman-New-York-State-Attorney-General-Will__-Resign-Today-May-8-2018-ii-150x150.jpg)
By Pam Martens and Russ Martens: May 8, 2018 ~ Last evening two highly respected reporters at the New Yorker published the accounts of four women concerning the sitting New York State Attorney General Eric Schneiderman’s physical and psychological assaults on them. Schneiderman announced his resignation as the state’s top cop three hours after the article was published. The reporters on the story are Jane Mayer, one of the most accomplished investigative reporters in the U.S., and Ronan Farrow, a recent recipient of the 2018 Pulitzer Prize for Public Service for his series of articles on movie producer Harvey Weinstein’s history of sexual assaults on numerous women. The accounts of the four women involving Schneiderman are nothing short of horrifying. Two of the women, Michelle Manning Barish and Tanya Selvaratnam, went on the record using their names. Barish was involved with Schneiderman on and off for about two years from … Continue reading
Trump’s Lies Hit Critical Mass: Even His Media Supporters Are Bolting
![President Donald Trump](https://wallstreetonparade.com/wp-content/uploads/2015/12/Donald-Trump-150x150.jpg)
By Pam Martens and Russ Martens: May 7, 2018 ~ In the past few days, two reliable media enablers of Donald Trump have veered off script with stinging rebukes of the President’s epic pattern of lies. The question is – what took them so long. Editorials in the foreign press dating back as far as a year ago recognized that Trump’s insatiable need to lie rendered him unfit for the presidency of the United States. Since April of last year the Los Angeles Times has been running a series of forensic editorials attempting to explain what it is in Trump’s personality that would explain “his moral vacuity and his disregard for the truth, as well as his stubborn resistance to sensible advice.” The editorials have been headlined: “Our Dishonest President,” “Why Trump Lies,” and “Enough is Enough,” to mention just three. The Washington Post determined that Trump’s lies are so … Continue reading
The Market Is Going to Test Obama’s Legacy on Wall Street Bank Reform
![](https://wallstreetonparade.com/wp-content/uploads/2012/07/Dodd-Frank-Pic-Final-150x150.jpg)
By Pam Martens and Russ Martens: May 4, 2018 ~ On January 26 of this year, the Dow Jones Industrial Average set a record high of 26,616.71. It has been backing and filling since then but the trend line has been decidedly down. Yesterday, the Dow closed at 23,930.15 – almost 2700 points lower than its high set in January, despite the passage of a massive corporate welfare tax cut and hundreds of billions of dollars in announced stock buybacks. (Just this week, Dow component Apple announced it would be implementing a new $100 billion share repurchase program.) Yesterday, the Dow closed just barely in positive territory after having been down almost 400 points intraday. But, notably, big Wall Street bank stocks such as JPMorgan Chase, Citigroup, Goldman Sachs, Bank of America and Morgan Stanley all closed the day in the red. These banks share a common feature – and … Continue reading
Giuliani Hints Trump, While President, Paid Cohen a $420,000 Slush Fund to Handle “Things of a Personal Nature”
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By Pam Martens and Russ Martens: May 3, 2018 ~ What Rudy Giuliani, the former mayor of New York City and Donald Trump’s latest legal fixer did last night was to effectively tell Trump’s mortal enemy, the Washington Post, that Trump paid his personal lawyer, Michael Cohen, a $420,000 slush fund last year to clean up dirt on the President. Cohen is the target of a criminal investigation by the U.S. Attorney’s office for the Southern District of New York. Cohen’s home, office, hotel room and safety deposit box were raided by the FBI on April 9. In an interview with Sean Hannity of Fox News last evening, and then later with the Washington Post, Giuliani buried both himself and the President deeper into a web of half truths or outright lies while managing to taint the legal work he does at his law firm, Greenberg Traurig, a corporate law … Continue reading
Was that a Koch Brothers’ Agent Who Pounded on our Door after We Wrote a Critical Article?
![Riverside County Sheriff officers guard the entrance to a Rancho Mirage, California luxury resort where the Koch brothers held their January 2011 political strategy confab.](https://wallstreetonparade.com/wp-content/uploads/2013/05/110130_8246-150x150.jpg)
By Pam Martens and Russ Martens: May 2, 2018 ~ Since 2010 we have been investigating and reporting on activities of the billionaire Koch brothers’ political funding network to subvert democracy in the United States. In 2011 we broke the news that Charles Koch had entertained sitting U.S. Supreme Court Justice Clarence Thomas at Koch’s private club in California. Thomas would later rule in favor of the Citizens United decision which opened the spigots to unlimited corporate money in U.S. political campaigns. In the same article we reported that while the Citizens United case was pending before the U.S. Supreme Court, Virginia Thomas, the wife of the Justice, created a nonprofit Tea Party advocacy group, Liberty Central, Inc., with a former lawyer for the Charles G. Koch Foundation, Sarah Field, acting as her General Counsel and a former Koch lobbyist, Matt Schlapp, serving on her board at inception. The nonprofit received over … Continue reading
Robert Rubin Exorcises Citigroup from His Career in Today’s NYT OpEd
![](https://wallstreetonparade.com/wp-content/uploads/2012/11/Former-Treasury-Secretary-Robert-Rubin-150x150.jpg)
By Pam Martens and Russ Martens: May 1, 2018 ~ Former U.S. Treasury Secretary, Robert Rubin, has decided he wants to rewrite his resume, removing the ugly warts from his days at Citigroup. That mega bank started as a financial supermarket that Rubin helped to make possible behind the scenes in the Bill Clinton administration, followed by a giant crash and the largest bank bailout in U.S. history from 2007 to 2010. Rubin strolled out the door of Citigroup in early 2009 $120 million richer than when he originally rolled his shopping cart into the well-stocked aisles of hubris at Citigroup almost a decade earlier. The New York Times has apparently decided to help Rubin exorcise Citigroup from his past. In an OpEd in the New York Times New York edition today, neither he nor the New York Times in its bio mentions so much as a syllable about Rubin’s … Continue reading
Nomi Prins’ New Book Is a Far More Important Read than Comey’s
![Nomi Prins](https://wallstreetonparade.com/wp-content/uploads/2018/05/Nomi-Prins-Thumbnail-150x116.jpg)
By Pam Martens and Russ Martens: April 30, 2018 ~ Tonight, at 7 p.m., Wall Street historian and author, Nomi Prins, will be speaking at The Strand bookstore at 828 Broadway in New York City. (See admission details here.) The appearance marks the launch of her latest book, Collusion: How Central Bankers Rigged the World, set for release tomorrow. While former FBI Director James Comey’s new book, A Higher Loyalty, has been getting lots of attention on cable news, Collusion is a far more important book. America can recover from a disastrous presidency, the topic of Comey’s book. But America might not be able to fully recover from another epic financial crash brought on by disastrous central bank policy – the subject of Prins’ book. Collusion not only proves that the 1 percent got bailed out while the 99 percent got sold out as a result of policies of the U.S. … Continue reading
Trump’s Tax Cut Follows a Pattern of Poor Vetting at White House
![](https://wallstreetonparade.com/wp-content/uploads/2018/05/White-House-2018-150x150.jpg)
By Pam Martens and Russ Martens: April 27, 2018 ~ It’s increasingly looking like President Trump vetted his tax cut plan about as thoroughly as he vetted his cabinets picks. That is likely to have a serious negative impact on U.S. economic growth, the housing market and consumer spending. Yesterday Trump’s pick to head the Veterans Affairs Administration withdrew his name from consideration after allegations of drinking on the job and wrecking a government car while drunk surfaced in statements made by two dozen of his current and former colleagues. Later in the day, Trump’s Senate-confirmed head of the Environmental Protection Agency, Scott Pruitt, was being grilled at two separate House hearings on his wasteful spending of taxpayer dollars for first class travel to Italy and Morocco, a $43,000 soundproof phone booth for his office despite the agency already having secure facilities, and for accepting a dramatically below-market rate of $50 … Continue reading
Deutsche Bank’s Stock Is Trading Below Pre-Crisis Levels; But So Is Citigroup’s
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By Pam Martens and Russ Martens: April 26, 2018 ~ There is a great deal of hand-wringing in the U.S. media today over the plight of Deutsche Bank, the big German financial firm that has a hefty presence on Wall Street. Its first-quarter net profit slumped by 79 percent, it replaced its CEO of less than three years, John Cryan, this month with new CEO Christian Sewing whose game plan revolves around “painful” cuts. On September 15, 2008, a key moment in the 2008 financial collapse on Wall Street when Lehman Brothers filed bankruptcy, Merrill Lynch was forced into the arms of Bank of America and Citigroup teetered toward insolvency, Deutsche Bank’s shares closed the day at $58.80 (equivalent price adjusted for a subsequent stock split). Yesterday, its shares closed at $14.60 on the New York Stock Exchange. Not only has it not recovered from the financial crash but it’s … Continue reading
Why Did Yesterday’s Market Rout Miss the Big Wall Street Banks?
![](https://wallstreetonparade.com/wp-content/uploads/2018/04/DJIA-and-Nasdaq-Charts-for-April-24-2018-ii-150x150.jpg)
By Pam Martens and Russ Martens: April 25, 2018 ~ Wall Street knows something that the rest of us don’t. Based on past experience, when Wall Street keeps secrets it never works out well for the rest of us. We’re thinking about the time Wall Street banks colluded on rigging prices on the Nasdaq market; or the time they rigged their research departments and told us to buy stocks that they were secretly callings dogs and crap; or the time they got S&P and Moody’s to give them triple-A ratings on subprime pools of debt while keeping it a secret that they had internal reports showing the loans didn’t meet their origination standards — and then they went out and secretly shorted that debt while continuing to sell it to their customers as a good investment. Yesterday, something decidedly weird happened as U.S. stock markets were being pummeled. Three of … Continue reading