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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
Lawyers for Epstein’s Victims Ask for $87 Million in Legal Fees from the $290 Million JPMorgan Settlement; Victims Could Get Nothing after Releasing their Claims
By Pam Martens and Russ Martens: June 26, 2023 ~ There are three shocking takeaways from the class action settlement documents that were filed in the U.S. District Court for the Southern District of New York last week in the Jeffrey Epstein victims’ case against Wall Street megabank, JPMorgan Chase. (See settlement documents linked at the end of this article.) First, the attorneys for the unnamed victims are requesting $87 million in legal fees from the $290 million settlement amount, plus another $2.5 million in expenses. The victims, on the other hand, are guaranteed no minimum monetary payment but must file a release form before they learn if they will get a dime. This language appears in the settlement documents: “All Class Members shall be bound by all determinations and judgments in the Litigation concerning the Settlement (including, but not limited to, the releases provided for therein) whether favorable or unfavorable … Continue reading
JPMorgan Had a Secret Project that Is Now Spreading Its Scandalous Internal Emails with Sex Trafficker Jeffrey Epstein to News Outlets Worldwide
By Pam Martens and Russ Martens: June 22, 2023 ~ According to unsealed documents released this week by the U.S. Virgin Islands in its federal lawsuit against JPMorgan Chase over claims it facilitated Jeffrey Epstein’s sex trafficking of underage girls for more than a decade, the largest bank in the United States has a lot of explaining to do to the American people – and potentially to the criminal division of the U.S. Justice Department. After Jeffrey Epstein was arrested by the U.S. Department of Justice on July 6, 2019 on federal sex trafficking charges, JPMorgan Chase – which had been Epstein’s banker from 1998 to 2013 – apparently decided to get a quick look at how much legal liability and reputational damage it might have if its labyrinthine client relationship and intimate and undisclosed business relationship with Epstein came to light. The “top of the house” at JPMorgan Chase ordered … Continue reading
Wall Street’s Most Dangerous Derivative Secrets Are Hiding in Plain Sight in a Regulator’s Report
By Pam Martens and Russ Martens: June 21, 2023 ~ On March 17, 2022, the Federal Reserve began its interest rate hiking cycle, which has, thus far, evolved into 10 consecutive rate hikes, making it the fastest rate increases in 40 years. The Fed’s actions to tame inflation included four consecutive interest rate hikes of an aggressive 75 basis point hike (three quarters of one percent) on June 16, July 28, September 22, and November 3 of last year. At that point, every trading veteran on Wall Street was scratching their head and asking themselves the same question: why aren’t we hearing about interest rate derivatives blowing up and taking down either a U.S. mega bank or its counterparty on the wrong side of the trade? According to the quarterly derivative reports released by the Office of the Comptroller of the Currency (OCC), the regulator of national banks, as of December … Continue reading
JPMorgan/Jeffrey Epstein Cases Are a Cross Between the Bank’s Chinese Princeling Scandal and Madoff Fraud, Using Sex with Minors as a Bribe
By Pam Martens and Russ Martens: June 20, 2023 ~ The tenure of Jamie Dimon as Chairman and CEO of JPMorgan Chase, the largest federally-insured bank in the United States and the largest trading casino on Wall Street, has copiously revealed the following: the bank is more than willing to look the other way at crime if it means an increase in assets, profits or business referrals. Each of those three ingredients were present in the bank’s decades long involvement with Bernie Madoff, with its Chinese Princeling scandal and in the unfolding details of its intimate relationship with child sex trafficker Jeffrey Epstein. This reality may be difficult for the New York business press to acknowledge – since it has mostly covered Jamie Dimon as the grand statesman of Wall Street – but this is the hard reality nonetheless. Yesterday, the Wall Street Journal’s Khadeeja Safdar and David Benoit revealed the … Continue reading
JPMorgan Is Alleged to Have Used Its Hedge Fund’s Private Jet to Engage in Sex-Trafficking for Jeffrey Epstein
By Pam Martens and Russ Martens: June 19, 2023 ~ At a March 13 court hearing this year, prominent attorney, David Boies, argued in open court that the largest federally-insured bank in the United States, JPMorgan Chase – which has more than 5,000 Chase bank branches holding mom and pop savings from coast to coast – had used a private jet owned by the bank’s hedge fund, Highbridge Capital, to transport girls for Epstein’s sex trafficking operation. A January 13, 2023 amended complaint filed by Boies’ law firm, elaborated on the allegation as follows: “As another example of JP Morgan and [Jes] Staley’s benefit from assisting Epstein, a highly profitable deal for JP Morgan was the Highbridge acquisition. “In 2004, when Epstein’s sex trafficking and abuse operation was running at full speed, Epstein served up another big financial payday for JP Morgan. “Epstein was close friends with Glenn Dubin, the billionaire … Continue reading
72 Hours Before JPMorgan Offered $290 Million to Make Epstein Claims Go Away, a Lawyer Disclosed that the Bank Had Withheld 1500 Documents
By Pam Martens and Russ Martens: June 15, 2023 ~ Sigrid McCawley is a Managing Partner at law firm, Boies Schiller Flexner, which has been representing the sexually assaulted and/or sex-trafficked victims of Jeffrey Epstein for years, including Virginia Roberts Giuffre, who settled claims against Prince Andrew last year for an undisclosed sum of money. Giuffre alleged in her lawsuit that Epstein had trafficked her and forced her to have sex with Prince Andrew when she was just 17. McCawley is also a key lawyer on the case styled as Jane Doe 1 v JPMorgan Chase in the U.S. District Court for the Southern District of New York. That lawsuit alleges that JPMorgan Chase was for years aware that Epstein was a sexual predator of underage girls, kept him as a client nonetheless, and functioned as a cash conduit for his crimes while ignoring anti-money laundering laws. The JPMorgan internal emails … Continue reading
Is the S&P 500 Setting a Trap for Investors Like the Dot-Com Bust of 2000?
By Pam Martens and Russ Martens: June 14, 2023 ~ Following the dot-com mania of the late 90s, the Nasdaq reached a closing high of 5,048.62 on March 10, 2000. The Nasdaq then proceeded to lose 78 percent of its value over the next 2-1/2 years. It reached a closing low of 1,114.11 on October 9, 2002. There is mounting evidence that the S&P 500 is in a similar bubble today – this time fostered by Wall Street hyperbole and FOMO (Fear of Missing Out) around Artificial Intelligence (AI) boosting big gains at mega tech companies. Headlines are sprouting up at various news outlets, touting that the S&P 500 is in a new bull market. But, in fact, almost all of the gains in the S&P 500 Index year-to-date have come from just seven stocks: Apple (ticker AAPL), Alphabet (GOOG), Amazon (AMZN), Meta Platforms (formerly Facebook, ticker META), Nvidia (NVDA), Microsoft … Continue reading
As JPMorgan Settles Epstein Victims’ Claims for $290 Million, Bombshell Documents Are Filed in the Other Epstein Case Against the Bank
By Pam Martens and Russ Martens: June 13, 2023 ~ Yesterday, at 9:33 a.m. ET, JPMorgan Chase and the law firm Boies Schiller Flexner, issued a terse joint statement indicating that they had informed Judge Jed Rakoff’s federal court in Manhattan that claims against the bank for aiding and abetting Jeffrey Epstein’s sex-trafficking of underage girls had been settled by the two sides. The settlement will require court approval. Law partner David Boies later confirmed to the press that the dollar figure for that settlement was an astonishing $290 million, despite the fact that the lawsuit was brought by just one women, Jane Doe 1. After Jamie Dimon, the Chairman and CEO of JPMorgan Chase, had argued for months that the bank was not responsible for Epstein’s sex crimes and trafficking of young girls, why would the bank flip on a dime on June 12 and decide to effectively admit its … Continue reading
“Relationship Managers” Handled Collapsed Silvergate and Signature Banks’ Crypto Accounts; Citibank’s Dictator Accounts; and JPMorgan’s Jeffrey Epstein Accounts
By Pam Martens and Russ Martens: June 12, 2023 ~ A dangerous malignancy has been growing on the U.S. banking system for at least two dozen years: It’s the job function benignly called the “Relationship Manager.” In October 2013, Carmen Segarra, a lawyer and former Bank Examiner at the Federal Reserve Bank of New York, filed a federal lawsuit alleging that Relationship Managers there, who were assigned to delicately manage relationships between the New York Fed and the powerful Wall Street banks, had obstructed and interfered with her investigation of Goldman Sachs and tried to bully her into changing her negative findings. When Segarra refused to change her examination, she was fired, according to a federal lawsuit she filed. In 2018, Segarra provided a more detailed accounting of how these corrupted relationships play out in her book, Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street. Given the influence that … Continue reading
Welcome to Dystopia: From Wildfires, to Flooding, to Serial Banking Crises and Crypto Frauds, It’s All Too Surreal
By Pam Martens and Russ Martens: June 8, 2023 ~ Yesterday, news headlines blared that New York City had the worst air quality in the world, as an eerie brownish-orange haze enveloped the city and Long Island. Photographs that looked more like scenes from a sci-fi movie popped up all over Twitter. Daytime took on a nighttime quality as streetlights automatically flipped on. Outdoor activities of all kinds were cancelled: the New York Yankees and Philadelphia Phillies cancelled their home games that had been scheduled for Wednesday; schools banned outdoor activities on playgrounds; millions of Americans living in the Northeast United States were cautioned to remain indoors. The Governor of New York State, Kathy Hochul, announced she was distributing one million N95 masks – a flashback to the hellish life of New Yorkers in 2020 and 2021 as the COVID-19 pandemic engulfed the city and the overflowing bodies of COVID victims … Continue reading