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Recent Posts
- Trump’s “Big Beautiful Bill” Is a Grotesque Giveaway to Fossil Fuel Billionaires While Adding $3.3 Trillion to Nation’s Debt
- Senator Chris Murphy Charges that Trump “Has Opened a Channel for Bribery”
- Congressman Casten: Trump’s Assault on the Rule of Law Is Causing Capital Flight Out of U.S. by Foreign Investors
- Trump’s Approval Rating Drops to 80-Year Low; IMF Says U.S. Tariffs Now Exceed the Highs During the Great Depression
- Nasdaq Has Lost More than 3,000 Points Since Trump’s First Full Day in Office in 2025; the Pain Has Barely Begun
- The Bond Crisis Last Week Was a Global No-Confidence Vote in U. S. President Donald Trump
- Trump’s Tariff Plan Guts $5 Trillion in Stock Value in Two Days; Senator Warren Calls for Emergency Action Before Markets Open on Monday
- Trump’s Attacks on Big Law, Universities, and the Media Have a Common Goal: Silence Dissent Against Authoritarian Rule
- Trump Administration Gives All Clear to Laundering Money through Shell Companies and Bribing Foreign Officials
- Four Megabanks on Wall Street Hold $3.2 Trillion in Uninsured Deposits – Which May Explain Senator Schumer’s Pivot to the GOP to Stop a Government Shutdown
- Here’s What Came Crashing Down Yesterday for Trump’s “Genius” Guy, Elon Musk: Tesla Stock, Access to Twitter (X), His Years of Secret Calls with Putin
- After Banning the Associated Press, Trump Is Now Targeting Specific Journalists That He Wants to See Fired
- Closely Watched Atlanta Fed Model Predicts Negative U.S. Growth in First Quarter
- Trump’s Gangster Diplomacy Makes Front Page Headlines Around the Globe
- Who Benefits Alongside Elon Musk If He Succeeds in Killing the CFPB: the Megabanks on Wall Street that Underwrite His Tesla Stock Offerings
- In Trump 1.0, the State Department Used Taxpayer Money to Publish a Book Elevating Elon Musk to a Superhero; It Was Funded by USAID, the Agency Musk Wants to Quickly Shut Down
- News Host Joy Reid Raises Threat of Trump Selling U.S. to Putin; Ten Days Later Her Show Is Cancelled
- Elon Musk’s DOGE Appears to Be Violating a Court Order; It Has Taken Down Hundreds of YouTube Videos that Educate Americans on How to Avoid Being Swindled
- Barron’s Releases Audio of Jamie Dimon Cursing Out His Workers at a Town Hall, as Dimon Plans to Dump Another One Million JPM Shares
- There’s One Federal Investigative Agency that Neither Trump nor Elon Musk Can Touch: It Just Opened an Investigation into DOGE
- Elon Musk’s Companies Were Under Investigation by Five Inspectors General When the Trump Administration Fired Them and Made Musk the Investigator
- Donald Trump Gives the Greenlight to Goldman Sachs and JPMorgan Chase to Return to Bribing Foreign Officials
- After Tech Geeks Built a Back Door to Loot Billions from FTX, Republicans Refuse to Investigate What Elon Musk’s Tech-Squad Did Inside the U.S. Treasury’s Payment System
- Former Prosecutor, Now U.S. Senator, Informs Tesla That CEO Musk May Be Violating Federal Law and to “Preserve All Records”
- Trump’s Hedge Fund Guy Is Now Overseeing the U.S. Treasury, IRS, OCC, U.S. Mint, FinCEN, F-SOC, and the Consumer Financial Protection Bureau
- As Elon Musk Begins Shutting Down Payments to Federal Contractors, a Strange Money Trail Emerges to His Operatives Inside the U.S. Treasury’s Payment System
- JPMorgan Chase Charged by Yet Another Internal Whistleblower with Cooking the Books
- We Asked Google’s AI Search Model, Gemini, Questions About the Fed and Wall Street Megabanks: It Got the Answers Dead Wrong
- With Trump and Melania’s Crypto Coins Likely to Raise Legal Challenges, Why Didn’t Trump Fire the SEC’s Inspector General in His Purge of IGs?
- Fossil Fuel Industry Could End Up Paying Tens of Billions for LA Wildfires and Deceiving the Public on Climate Change for Decades
- It’s Being Called the Biggest Grift by a President in U.S. History: Trump and First Lady Launch their Own Crypto Coins
- Trump Plans to Install a Fracking CEO to Head the Energy Department and Declare a National Emergency on Energy to Gain Vast Powers
- Fossil Fuel Money Played a Role in the Los Angeles Fires and the Push to Install Pete Hegseth as Secretary of Defense
- When It Comes to Wealth Retention in Retirement, Concrete May Be the New Gold
- Wall Street Watchdog Warns “Clock Is Ticking on a Coming Catastrophic Financial Crash”
- Wall Street Is Sending the Same Message to Americans on Fossil Fuel Financing that It Sent on Cigarettes: Drop Dead
- In a Six-Week Span, this Dark Pool with a Curious Past Traded 3.7 Billion Shares
- Wall Street’s Lobby Firm Hired Eugene Scalia of Gibson Dunn to Sue the Fed for Jamie Dimon
- Postmaster General Louis DeJoy Made $561,051 in Compensation in 2024, as Mail Costs Spiked and Delivery Deteriorated
- Fed Chair Jay Powell Sends a Bold Message to Trump and Tanks the Dow by 1123 Points
- The Head of Fixed Income at T. Rowe Price Makes the Scary Case for the 10-Year Treasury to Spike to 6 Percent
- $663 Billion in Cash Assets Have Gone Poof at the Largest U.S. Banks
- Donald Trump to Ring Bell at New York Stock Exchange Today as Hit List Posters Appear in Manhattan Targeting Wall Street CEOs
- Trump Has a Slush Fund to Prop Up the Dollar – Will He Use It to Prop Up Bitcoin Instead?
- A CEO Assassination; a Billionaire Heiress/NYPD Commissioner; a Secret Wall Street Spy Center – Here’s How They’re Connected
- Despite More than 1600 Tech Scientists Signing a Letter Calling Crypto a Sham, Trump Names a Crypto Cheerleader for SEC Chair
- The Fed Rings a Warning Bell: Hedge Funds and Life Insurers Are Reporting Historic Leverage
- Trump’s Nominee for FBI Director, Kash Patel, Has Businesses Financially Intertwined with Trump
- Donald Trump Is at Risk of Getting Named in a Fossil Fuels Conspiracy Lawsuit
- Trump Is Having Difficulty Getting a Lawyer to Accept the Nomination for SEC Chair: Here’s Why
Category Archives: Uncategorized
Did Wall Street Get Hacked, Back Away or Just Get Overwhelmed on Monday?
By Pam Martens and Russ Martens: February 8, 2018 The U.S. Senate Banking Committee needs to get its act together and immediately schedule hearings on the trading outages that occurred at numerous discount brokers and mutual funds on Monday. According to thousands of on-line complaints, customers of major firms like TD Ameritrade, Fidelity, Vanguard, and T. Rowe Price could not access their accounts using the firms’ websites on Monday and thus could not place sell or buy orders as the market dove 1,597 points in mid afternoon, then partially recovered to close down 1,175 points. At online outage tracker, downdetector.com, both TD Ameritrade and Fidelity were verbally brutalized by outraged customers, many of whom said they had lost thousands of dollars as a result of the outage. Others commenters were stirring up momentum for a class action lawsuit. Complaints against Fidelity included this one from a poster calling himself Lee … Continue reading
Flash Crashes: Small Investors Are Being Crushed by Wall Street
By Pam Martens and Russ Martens: February 7, 2018 On Monday afternoon, the Dow Jones Industrial Average was trading down about 700 points. Over the next 11 minutes, it fell more than 800 points in what can only be described as a Flash Crash as the Dow abruptly recovered to pare its loss from down 1,597 points to a final close of down 1,175 points on the day. Small investors who had stop-loss orders in place saw those orders triggered and their stocks sold, only to see their stocks recover much of those losses within minutes. This was eerily reminiscent of the Flash Crashes on May 6, 2010 and August 24, 2015. Small investors (as well as institutional investors like municipal pension funds who work for the little guy) frequently have in place standing stop-loss orders that sit on the stock exchange order books to sell a stock at a … Continue reading
Stock Market Panics on Treasury Yields, Fed and Trump’s Domestic Wars
By Pam Martens and Russ Martens: February 6, 2018 In little more than a week, $4 trillion in global stock market value has vanished as quickly as a snow cone in July. The heretofore uncanny calm of a U.S. stock market setting regular new highs was punctured Friday with a 665.7 point selloff in the Dow Jones Industrial Average. That was followed by yesterday’s bungee dive in late afternoon that took the Dow down 1597 points followed by a quick partial retracement that left the Dow down 1,175 points on the day. (That plunge and retracement brought back memories of the Flash Crash of 2010. See charts above and our coverage: Flash Crash Report Raises Flags on Quasi Stock Exchanges Inside Wall Street Firms.) On a point loss basis, yesterday’s decline was the largest in Dow history. On a percentage basis, it paled in comparison to the 22.6 percent decline … Continue reading
Kochtopus Wants the Little Guy to Buy Stocks as the Market Plunges
By Pam Martens and Russ Martens: February 5, 2018 Last Friday, the stock market, as measured by the Dow Jones Industrial Average, plunged 665.7 points. This morning, after just one minute of trading at 9:31 a.m. in New York, the Dow had bled another 307 points. You can expect a big push for the balance of the day by the shills who want to keep the dumb money in the market as a prop for the 1 percenters as they take profits and run. One member of the Kochtopus (short-hand for the secretive political network and nonprofit front groups backed by billionaire brothers, Charles and David Koch) is Stephen Moore, who has somehow secured himself the position of Senior Economics Analyst on CNN, the 24/7 cable news network whose tagline is “The Most Trusted Name in News.” After the market plunge on Friday, Moore was on air at CNN by … Continue reading
As SEC Chair’s Family Grows Rich from Corporate Secrecy Firm, U.S. Named #2 Facilitator of Illicit Money
By Pam Martens and Russ Martens: February 1, 2018 Yesterday we reported that the Chairman of the Securities and Exchange Commission, Jay Clayton – the man ostensibly in charge of providing financial transparency to the American people – has tens of millions of dollars in family net worth tied to a Delaware company specializing in providing secrecy to corporate entities. (This actually makes sense for an administration packed with billionaires with lots of tax haven accounts.) On the heels of that confidence-draining news comes the Financial Secrecy Index for 2018 which names the United States the 2nd worst country for facilitating financial secrecy and illicit money flows, just behind Switzerland. The accompanying report from the Tax Justice Network on the U.S. specifically calls out the state of Delaware, noting the following: “The U.S. provides a wide array of secrecy and tax-free facilities for non-residents, both at a Federal level and … Continue reading
Wall Street’s Top Cop Can’t Shake Money Ties to Mysterious Firm
By Pam Martens and Russ Martens: January 31, 2018 When Jay Clayton, President Donald Trump’s pick to head Wall Street’s top cop, the Securities and Exchange Commission, was preparing for his Senate confirmation in March of 2017, the watchdog nonprofit, Public Citizen, requested in a formal letter that the Senate Banking Committee investigate Clayton’s family ties to a mysterious company called WMB Holdings. On the day of the confirmation hearing, March 23, 2017, David Dayen penned this breathtaking assessment at The Nation: “Clayton’s family gets millions of dollars in annual dividends from a private company named WMB Holdings, some of which Clayton plans to retain even if confirmed. This company and its affiliated partners (Delaware Trust Co and CSC) are conduits for creating shell corporations and other sketchy vehicles used in tax evasion and money laundering. Public Citizen found apparent links between these companies and Mossack Fonseca, the notorious Panamanian … Continue reading
Stocks Dive as Treasury Yields Set Off Alarm Bells
By Pam Martens and Russ Martens: January 30, 2018 The benchmark 10-year U.S. Treasury yield touched 2.7 percent on Monday and as of 8:16 a.m. this morning it has returned to that level. The sharp rise in Treasury yields produced a 177 point drop in the Dow Jones Industrial Average yesterday. As of 10:07 a.m. this morning, the Dow had lost an additional 334 points. Many market watchers see even more dangerous headwinds for the stock market if the 10-year Treasury reaches a 3 percent yield. (See our analysis: Rising Treasury Yields Pose Risk for Those Over-Weighted in Stocks.) The recent market action suggests that investors are about to get a serious investing lesson in the concept of supply and demand. According to research from the major Wall Street banks, there is going to be a stunning doubling of the net issuance of U.S. Treasury securities in the current Federal … Continue reading
JPMorgan’s Most Admired Bank Award: General Public Had No Say
By Pam Martens and Russ Martens: January 29, 2018 Someone really needs to send the good folks at Fortune Magazine a heads up that naming a bank that has admitted to three criminal felony counts in 2014-15 and lost more than $6 billion gambling with its depositors’ money does not have the makings for a most-admired anything, unless possibly most-admired for dodging jail time. JPMorgan Chase has decided to spin the award as follows on its website: “JPMorgan Chase was given the top industry ranking the second year in a row on Fortune magazine’s list of ‘The World’s Most Admired Companies of 2018.’ Fortune also ranked the firm as the tenth most-admired company in the world.” One might suspect from the above that the industry in which JPMorgan Chase was ranked was the overall financial services industry or overall banking industry. But it wasn’t. JPMorgan Chase achieved its top award … Continue reading
Meet the Conflicted Team that Could Prosecute Trump-Russia Charges
By Pam Martens and Russ Martens: January 26, 2018 According to former FBI Director James Comey, President Donald Trump asked him for a personal loyalty pledge. Comey didn’t give it. Comey was fired by Trump. Trump has also made repeated remarks to suggest that his view of what is supposed to be an independent U.S. Justice Department is rather one that functions as his personal Praetorian Guard, protecting him while prosecuting or firing his perceived enemies – a roster that is growing exponentially by the day. Given that background, the recent appointments at the U.S. Attorney’s Office for the Southern District of New York are particularly alarming. U.S. Attorney offices across the United States prosecute the criminal and civil cases in their jurisdiction in which the United States is involved. Because Donald Trump’s questionable business dealings and campaign activities occurred mainly in New York, and he has a residence there … Continue reading
Did U.S. Treasury Secretary Mnuchin Give Dollar Shorts a Wink in Davos?
By Pam Martens and Russ Martens: January 25, 2018 U.S. Treasury Secretary Steve Mnuchin opened his mouth at the base of the snow-covered mountains of Davos, Switzerland yesterday during the World Economic Forum and sent an instant chill through currency markets around the world. After Mnuchin made the highly inappropriate remark that a weak dollar would be good for U.S. trade prospects, the U.S. Dollar plunged to a three-year low. Anyone who knew in advance that Mnuchin was going to make such a comment could have cleaned up in currency trades yesterday. Two U.S. banks (JPMorgan Chase and Citigroup) and two foreign banks (Barclays and RBS) were charged with felony counts on May 20, 2015 for their roles in rigging foreign currency markets. Mnuchin is a former 17-year veteran of Goldman Sachs and should have known better than to make such a remark at an event covered by 500 journalists … Continue reading