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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
S&P Downgrades Credit Ratings on Five Banks, Puts Three Others on Negative Outlook
![](https://wallstreetonparade.com/wp-content/uploads/2013/08/Stock-Chart.jpg)
By Pam Martens and Russ Martens: August 22, 2023 ~ The stock prices of KeyCorp and Comerica had already lost more than 40 percent of their market value over the past year through the closing bell on Monday. KeyCorp was sporting a depressed share price of $10.89 at the close yesterday after trading in the single digits during the banking crisis in March. Then S&P Global delivered more bad news yesterday. It downgraded the credit rating on both KeyCorp and Comerica by one notch. Outlooks were indicated as “stable” for both banks by S&P. Three other banks were also downgraded by one notch yesterday by S&P: Valley National Bancorp, UMB Financial Corp. and Associated Banc-Corp. S&P lowered outlooks on two other banks to negative: River City Bank and S&T Bank. The ratings action on KeyCorp is particularly noteworthy. According to the Federal Reserve, as of June 30 KeyCorp had $193 billion in … Continue reading
New Court Documents Suggest the Justice Department Under Four Presidents Covered Up Jeffrey Epstein’s Money Laundering at JPMorgan Chase
![](https://wallstreetonparade.com/wp-content/uploads/2020/09/JPMorgan-Chase-Building-150x112.jpg)
By Pam Martens and Russ Martens: August 21, 2023 ~ Remember all of that sensational social media buzz in 2016 about a politically-connected ring of pedophiles operating out of a pizza parlor in Washington, D.C.? The story was debunked by Snopes but not before it had gone viral. While the pizza parlor was getting plenty of attention, an actual, highly sophisticated, child sex-trafficking ring had been operating with impunity for more than a decade out of the largest bank in the United States, JPMorgan Chase. Based on astonishing internal documents from JPMorgan Chase obtained during discovery in a federal lawsuit and filed on the court docket last week, it now appears that the U.S. Department of Justice has turned a blind eye toward this bank’s facilitation of Jeffrey Epstein’s sex trafficking crimes for more than 16 years, during the administrations of four separate Presidents of the United States. The heavy-lifting for what … Continue reading
Giuliani Was in the Running to Be Trump’s Attorney General. His Authoritarian Rule as Mayor Suggests a Nightmare Outcome
![](https://wallstreetonparade.com/wp-content/uploads/2023/08/Rudy-Giuliani-and-John-Eastman-on-January-6-2021.jpg)
By Pam Martens: August 17, 2023 ~ American democracy is in a slow death gurgle from the repetition of Orwellian reverse-speak slogans: “Make America Great Again,” “Save America,” “Drain the Swamp,” and “America’s Mayor.” Most Americans have forgotten that Rudy Giuliani was under serious consideration to be nominated by Donald Trump as his Attorney General. As “America’s Mayor,” Giuliani would have likely sailed through his Senate confirmation. Allowing public relations and branding agents to create the brand of “America’s Mayor” as the country reeled in shock after 9/11, launched the power-hungry Giuliani that today is facing a 13-count indictment that includes charges of racketeering and conspiracy. The new media buzz is how did America’s Mayor get caught up in this mess. The hard truth is that Giuliani was always a wannabe authoritarian dressed up by handlers as an American hero. During Giuliani’s two terms as Mayor of New York City, from 1993 … Continue reading
Mega Banks Take Down Stock Prices after a Fitch Warning About a Possible Downgrade to JPMorgan Chase and Its Peers
![Frightened Wall Street Trader](https://wallstreetonparade.com/wp-content/uploads/2020/03/Frightened-Wall-Street-Trader-150x133.jpg)
By Pam Martens and Russ Martens: August 16, 2023 ~ Yesterday, the Dow Jones Industrial Average took a tumble of 361 points by the closing bell. Numerous headlines attributed the big decline to a weakening economy in China. But the actual trigger for angst among traders was a headline at 5:30 a.m. EDT yesterday at CNBC. The headline read: “Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase.” JPMorgan Chase is not just the biggest bank in the United States in terms of assets and deposits. It is the biggest bank in terms of its derivative exposure. According to the federal regulator of national banks (those operating across state lines), the Office of the Comptroller of the Currency (OCC), as of March 31, 2023, JPMorgan Chase Bank had assets of $3.2 trillion and derivative exposure of more than $59 trillion notional (face amount). The OCC report also … Continue reading
Wall Street Mega Banks and Their Disgraceful Bailout Charts Since the Repeal of the Glass-Steagall Act in 1999
![Fed's Repo Loans to Largest Borrowers, Q4 2019, Adjusted for Term of Loan -- Thumbprint](https://wallstreetonparade.com/wp-content/uploads/2022/01/Feds-Repo-Loans-to-Largest-Borrowers-Q4-2019-Adjusted-for-Term-of-Loan-Thumbprint.jpg)
By Pam Martens and Russ Martens: August 15, 2023 ~ The Bill Clinton administration’s repeal in 1999 of the 1933 Banking Act, commonly known as the Glass-Steagall Act, ushered in the greatest kleptocracy America has ever known. The Cambridge dictionary defines “kleptocracy” as: “a society whose leaders make themselves rich and powerful by stealing from the rest of the people.” In fact, the actual goal of repealing Glass-Steagall was to do just that. The momentum for the repeal of Glass-Steagall came from the announcement in 1998 that Wall Street veteran, Sandy Weill, wanted to merge his trading firms, Salomon Brothers and Smith Barney (under the Travelers Group umbrella), with Citicorp, parent of the federally-insured Citibank commercial bank. Because of the Glass-Steagall Act, such a merger was illegal at the time. The 1933 Congress that passed the Glass-Steagall Act had watched the stock market lose 89 percent of its value over the years … Continue reading
Judge Jed Rakoff Has Regularly Dined in the Past with the Chairman of the Law Firm that Just Got a Big Win in His Court in the JPMorgan Sex Trafficking Case
![Brad Karp, Chair of Paul Weiss](https://wallstreetonparade.com/wp-content/uploads/2020/11/brad-karp-thumbnail.jpg)
By Pam Martens and Russ Martens: August 14, 2023 ~ In 2017, Simon & Schuster released the book, The Chickenshit Club, by the Pulitzer-prize winning public interest writer, Jesse Eisinger. The title derives from the premise that the prosecutors at the U.S. Department of Justice are too worried about losing a case or harming their ability to get those seven-figure pay packages at the big Wall Street law firms to do their jobs properly as prosecutors. Aside from that narrative, which is brilliantly analyzed by Eisinger, the book reveals a stunning fact about Manhattan federal district court Judge Jed Rakoff – a man who has gone out of his way to portray himself with the media as the protector of the public interest. Eisinger writes this: “Karp, sixteen years younger, and Rakoff began having dinner every several months, often with their wives and other lawyers, at restaurants around Manhattan: Il Gattopardo, … Continue reading
WeWork’s Stock Imploded to 13 Cents Yesterday; Its Cult-Master, Adam Neumann, Cashed Out Years Ago and Is a Billionaire
![Adam Neumann, Co-Founder of WeWork](https://wallstreetonparade.com/wp-content/uploads/2023/08/Adam-Neumann-Co-Founder-of-WeWork.jpg)
By Pam Martens and Russ Martens: August 10, 2023 ~ That office space company we warned our readers about so extensively in 2019, WeWork, collapsed to 13 cents a share yesterday. Its bonds were trading at about 13 cents on the dollar. WeWork’s stock has been on a steady decline since the company began to trade publicly on October 21, 2021. The chart above shows how investors would have fared in WeWork stock versus a 10-year U.S. Treasury note since WeWork started trading in 2021. The collapse in the share price this week came as a result of an 8-K filing with the Securities and Exchange Commission on Tuesday in which the company uttered these discomforting words: “…as a result of the Company’s losses and projected cash needs, combined with increased member churn and current liquidity levels, substantial doubt exists about the Company’s ability to continue as a going concern.” The … Continue reading
Jamie Dimon Faces an Uphill Battle Convincing a Jury He Didn’t Know that Child Sex-Trafficker, Jeffrey Epstein, Was Financing His Operation Out of JPMorgan
![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: August 9, 2023 ~ Jamie Dimon is between a rock and a hard place. He is either going to have to convince a jury come October that he was left in the dark by the bank’s general counsel, his compliance and money laundering executives, and the heads of his investment bank and asset and wealth division about the fact that notorious child molester Jeffrey Epstein was a client at the bank for more than a decade – which would make Dimon sound so isolated as to be unfit to be running the bank – or Dimon is going to have to admit that he lied under oath in his federal court deposition. Neither is a comfortable proposition to be facing for a jury trial currently scheduled for October 23. JPMorgan Chase is currently facing off against three federal lawsuits before Judge Jed Rakoff in the … Continue reading
Moody’s Cuts Credit Ratings on 10 Banks; Places 4 of the 15 Largest Banks in U.S. on Review for Possible Downgrade
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By Pam Martens and Russ Martens: August 8, 2023 ~ Brace yourself for some tremors in the stock prices of banks today — especially those that have counterparty risk to the biggest U.S. banks. In a move that sent Dow futures on a steady downward plunge beginning at 5 a.m. EDT this morning (clocking in at down 268 points by 8:14 a.m.), last evening the credit ratings agency, Moody’s Investors Service, took more sweeping actions in the U.S. banking sector. Moody’s cut the ratings of 10 banks by one notch, placed six banks on review for potential downgrade, and changed its outlook to negative on 11 other banks. Causing particular alarm on Wall Street was the fact that four of the six banks that Moody’s put on review for potential downgrade rank among the 15 largest banks in the United States. They are: U.S. Bancorp, the 5th largest bank in the U.S. with … Continue reading
The 25 Largest U.S. Banks Are Seeing the Largest Fall in Deposits in 38 Years With No Signs of Letting Up
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By Pam Martens and Russ Martens: August 7, 2023 ~ Deposits at the 25-largest domestically-chartered U.S. commercial banks peaked at $11.680 trillion on April 13, 2022, according to the updated H.8 data maintained at the Federal Reserve Economic Database (FRED). As of the most current H.8 data for the week ending on Wednesday, July 26, 2023, deposits stood at $10.709 trillion at those 25 commercial banks, a dollar decline of $970 billion and a percentage decline of 8.3 percent. Equally noteworthy, the decline shows no signs of letting up. According to the FRED data, between July 5 and the most current reading on July 26, the 25 largest U.S. banks shed $174 billion in deposits. Despite all of the misleading news reports about depositors seeking out the perceived safety of the largest banks since the banking crisis in the spring, it’s actually been the smaller banks that have staged a comeback … Continue reading