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Recent Posts
- A Wall Street Regulator Is Understating Margin Debt by More than $4 Trillion – Because It’s Not Counting Giant Banks Making Margin Loans to Hedge Funds
- After JPMorgan Threatens to Sue, the Fed Cuts Its Capital Requirement on the 5-Count Felon from a Planned 25 Percent Hike to Less than 8 Percent
- 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
Category Archives: Uncategorized
In Wasserman Schultz Case, Obama and Clinton Seem to Wink at the Law
By Pam Martens and Russ Martens: September 1, 2016 President Obama holds the highest office in the United States. He has a law degree from Harvard Law and was a former editor of the Harvard Law Review. Presidential candidate Hillary Clinton holds a law degree from Yale University. Despite the legal background of the President and former Secretary of State, both seem to be winking at the serious legal issues surrounding the former Democratic National Committee Chair, Debbie Wasserman Schultz. Wasserman Schultz has been sued along with the DNC in the Federal District Court of South Florida, where the lead plaintiff, Carol Wilding, resides. The lawsuit is on behalf of Senator Bernie Sanders’ supporters and alleges fraud, negligent misrepresentation, deceptive conduct, unjust enrichment, breach of fiduciary duty, and negligence. There are already more than 100 named plaintiffs and the court was told in the amended complaint that an additional 1,000 … Continue reading
Hedge Fund Billionaires Help Push Wasserman Schultz to a Primary Win
By Pam Martens and Russ Martens: August 31, 2016 Democratic primary voters in South Florida’s 23rd Congressional District ignored the Democratic National Committee scandal that has engulfed Debbie Wasserman Schultz and gave the incumbent a 56.46 percent win over her Democratic challenger, Tim Canova, who claimed 43.54 percent of the vote. Unfortunately for Canova, who had the backing of Senator Bernie Sanders and his supporters, Independents were not allowed to vote in this closed primary. Wasserman Schultz will still have to compete against a Republican rival, Joe Kaufman, in the November 8 general election. Her District is heavily Democratic, however, and she is expected to achieve an easy win – unless new scandals arrive between now and election day. Canova is a law professor at Nova Southeastern University. This was his first endeavor in running for public office. His strong showing in this race and his ability to raise $3.3 … Continue reading
At a Time of Political Darkness in America, Our Whistleblowers and Activists Give Us Reason to Hope
By Pam Martens and Russ Martens: August 30, 2016 Over the past week Rasmussen polls have captured the epic disgust of voters in the direction America is heading. Only 31 percent of likely voters believe the country is heading in the right direction; 67 percent of voters are angry at the current policies of the federal government; and just 24 percent trust the federal government to do the right thing most or nearly all the time. The smooth functioning of the U.S. economy is based on citizens having confidence in the country’s leaders. Over two-thirds of the U.S. economy stems from consumer spending. When consumers lack confidence, they scale back spending. When businesses lack confidence, they lay off workers or stop hiring. When new home buyers lack confidence, they postpone signing a contract. Last Friday, Bloomberg News reported that the CEO of Signet Jewelers Ltd., Mark Light, was blaming a slowdown … Continue reading
Department of Homeland Security Has Surprise for Bernie Supporters at DNC Lawsuit Hearing
By Pam Martens and Russ Martens: August 29, 2016 Mavi Ramirez is a Mom, a social media entrepreneur and a dedicated citizen journalist who took a day off from work to cover the first hearing on August 23 in the Federal lawsuit that has been filed by Senator Bernie Sanders’ supporters against the Democratic National Committee and its former Chair, Debbie Wasserman Schultz. The lawsuit, which currently has more than 100 plaintiffs and more than a thousand in the wings with retainer agreements, is charging the DNC with fraud, negligent misrepresentation, deceptive conduct, unjust enrichment, breach of fiduciary duty, and negligence. Leaked DNC documents and emails by Guccifer 2.0 and Wikileaks show Wasserman Schultz disparaging the Sanders’ campaign while key DNC officials actually plotted to sabotage the Sanders’ campaign by putting the word out that he is an atheist (which Sanders says he is not) and characterizing his campaign as … Continue reading
Shawn Lucas Cause of Death Still Unknown as Clinton’s Campaign Lawyer Tries to Move DNC Lawsuit into the Weeds
By Pam Martens and Russ Martens: August 26, 2016 According to the Office of the Chief Medical Examiner for Washington, D.C., it has still not determined a cause of death for Shawn Lucas, the 38-year old process server who delivered the class action lawsuit against the Democratic National Committee and its then Chair, Debbie Wasserman Schultz, to the DNC headquarters on July 1. One month later, the girlfriend of Lucas came home to find him dead on the bathroom floor. It has now been more than three weeks since Lucas died with no cause of death announced. We asked the Chief Medical Examiner’s office if the delay was a result of toxicology tests being conducted. We were told it can make no comment beyond the fact that the cause of death is “pending.” The official report from the Metropolitan Police Department in Washington, D.C. indicates that officers Kathryn Fitzgerald and … Continue reading
Shhh! Don’t Tell the New York Times that S&P Earnings Have Declined for 5 Quarters
By Pam Martens and Russ Martens: August 25, 2016 On July 25, during the opening night of the Democratic National Convention, Senator Elizabeth Warren made the following comments during her speech: “Here’s the thing: America isn’t going broke. The stock market is breaking records. Corporate profits are at all-time highs.” We noted at the time that Senator Warren is one of the smartest members of Congress; a former Harvard law professor who taught commercial contracts and bankruptcy law; a member of the Senate Banking Committee and its Economic Policy Subcommittee. If Senator Warren was not aware that quarterly earnings on a year-over-year basis as measured by the largest companies in America – the Standard and Poor’s 500 – were on track to log in their fifth consecutive quarterly decline in earnings, how could the average American possibly know this? Equally important, if the stock market was setting new highs based … Continue reading
Was Paul Weiss an Appropriate Law Firm to Investigate Sex Charges Against Roger Ailes?
By Pam Martens and Russ Martens: August 24, 2016 On Monday, Andrea Tantaros, a Fox News host, became the latest in a growing drumbeat of voices charging Fox News with tolerating and condoning a hostile work environment for women that “operates like a sex-fueled, Playboy Mansion-like cult, steeped in intimidation, indecency, and misogyny,” according to the lawsuit Tantaros filed in New York State Supreme Court. Tantaros charges in the lawsuit that she was sexually harassed by Roger Ailes, who recently stepped down as Fox News CEO, while he ran an intimidation campaign against her through his public relations department. This is the second lawsuit to be filed against Ailes by Fox News women in as many months. In July, Gretchen Carlson went public with similar charges against Ailes in a high-profile lawsuit. According to the Washington Post, Carlson’s lawyers have received reports from more than 20 women that “they were … Continue reading
Wall Street’s Protection Racket: Mandatory Arbitration
By Pam Martens and Russ Martens: August 23, 2016 What people across Wall Street cannot figure out is why the Board of JPMorgan Chase, America’s biggest bank by assets, didn’t sack its CEO, Jamie Dimon, at some point between the bank’s first two felony counts in 2014 and its third felony count in 2015. Or, as two trial lawyers, Helen Davis Chaitman and Lance Gotthoffer point out on their web site, during the past five years as JPMorgan Chase racked up $35.7 billion in fines and settlements for “fraudulent and illegal practices.” JPMorgan Chase’s abuses of its own customers are so vast that Chaitman and Gotthoffer had to create a Wheel of Misfortune to catalog the scams for ease of viewing by the public. And here’s the worst part: those are just the frauds that the public is allowed to read about. JPMorgan Chase, along with other notoriously abusive banks … Continue reading
Student Loan Debt Slaves Get the Runaround Seeking Promised Relief
By Pam Martens and Russ Martens: August 22, 2016 Last Thursday the Consumer Financial Protection Bureau Student Loan Ombudsman released a report detailing the hurdles and outright barriers that college students who took out student loans face when they attempt to get Income-Driven Repayment (IDR) plans. These plans allow student loan payments to be tied to income. The report found that the debt holders are reporting that they are facing prolonged processing delays and wrongful rejections by their private student loan servicing companies. Some facets of the report suggested that student debt holders are intentionally getting the runaround by the outside servicing company. The report noted: “Borrowers report being rejected because their application had missing information or because their servicer lost paperwork, without ever being notified by their servicer or being given a chance to fix the problem. Other borrowers report being rejected simply for checking the wrong box, without … Continue reading
Where Would U.S. Olympians Get the Idea They Could Lie With Impunity?
By Pam Martens and Russ Martens: August 19, 2016 Yesterday the U.S. Olympic Committee released a statement apologizing “to the people of Brazil” for what it appears to concede was a trumped up story by four U.S. athletes about being robbed at gunpoint. The statement from the USOC characterized the alleged “robbery” as follows: “They stopped at a gas station to use the restroom, where one of the athletes committed an act of vandalism. An argument ensued between the athletes and two armed gas station security staff, who displayed their weapons, ordered the athletes from their vehicle and demanded the athletes provide a monetary payment.” The USOC added: “The behavior of these athletes is not acceptable, nor does it represent the values of Team USA or the conduct of the vast majority of its members.” Our first epiphany that America was in trouble on the issue of lying about matters … Continue reading