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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
What Dodd-Frank Didn’t Fix: The Worst Conflicts on Wall Street
By Pam Martens and Russ Martens: February 25, 2015 Two major stories have broken this week showing how little has actually changed under the much heralded financial reform legislation known as Dodd-Frank. That legislation was enacted in 2010 with the promise of ending the unchecked corruption, conflicts of interest and casino capitalism that crashed the U.S. financial system in 2008, leading to the largest taxpayer bailout in the nation’s history. Yesterday, in a front page article, the New York Times used data to back up the withering conflicts of interests of SEC Chair Mary Jo White – the same conflicts that Wall Street On Parade reported two years ago. (See related articles below.) The Times reported that because Mary Jo White had worked for a major Wall Street powerhouse law firm immediately preceding her term at the SEC, representing major Wall Street firms like JPMorgan Chase, she had recused herself … Continue reading
JPMorgan, Still On 2-Year Probation, Under Scrutiny in Gold Fixing Probe
By Pam Martens and Russ Martens: February 24, 2015 The financial press is reporting this morning that the U.S. Justice Department is investigating at least 10 of the biggest U.S. and foreign banks for potentially rigging the gold market and other precious metals markets. That investigation comes while ongoing investigations continue into the potential rigging by big banks of the setting of interest-rate benchmarks and foreign currency. Cartel activity in every facet of U.S. and London financial markets now seems to be the norm with regulators typically five to ten years too late in sniffing out the illegal conduct. JPMorgan Chase was named by the Wall Street Journal as one of the banks under scrutiny in the precious metals probe. That could pose a particularly difficult situation for JPMorgan as it is under an effective two-year probation with the U.S. Justice Department for its role in the Bernard Madoff fraud. … Continue reading
Giuliani’s Hypocrisy: How Can You Love America But Not Its Bill of Rights?
By Pam Martens: February 22, 2015 Let’s hope this latest rant by former New York City Mayor, Rudy Giuliani, ends once and for all that preposterous moniker of “America’s Mayor” that he claimed solely because of 9/11. While Mayor, Giuliani was sued 30 times by the New York Civil Liberties Union. It won 27 of the lawsuits. Many of the cases involved Giuliani’s assault on free speech and other First Amendment abuses under what truly makes America unique: its Bill of Rights. In case there is still someone on the planet who hasn’t yet heard the rant, on Wednesday night Giuliani told about 60 guests at a right-wing dinner at Manhattan’s 21 Club that: “I do not believe, and I know this is a horrible thing to say, but I do not believe that the President loves America. He doesn’t love you. And he doesn’t love me. He wasn’t brought … Continue reading
Fed Minutes: Janet Yellen Walks a High Wire Greased With Oil
By Pam Martens and Russ Martens: February 19, 2015 Before we analyze in plain English the minutes released yesterday by the Federal Open Market Committee (FOMC) of the Federal Reserve Board relating to its discussions at its last meeting on January 27-28, 2015, you need a few salient background facts. The FOMC first set its Federal Funds rate at 0 to ¼ percent (the zero bound range) on December 16, 2008. That’s more than six years ago. If the U.S. was in the recovery stage following a deep recession, we would have exited the zero bound range a long, long time ago. Clearly, we have yet to accurately define the economic twilight zone we’ve entered. Secondly, the Fed’s happy talk about the solid growth in the U.S. economy that may warrant a rate hike sometime this year just doesn’t comport with the reality of the situation. On February 10, Steve … Continue reading
A Clinton Scandal Ignites Before Hillary Is Even Officially a Candidate
By Pam Martens and Russ Martens: February 18, 2015 Hillary Clinton, who has yet to be named the Democratic candidate for President in 2016, finds herself enmeshed in a transatlantic scandal that is an untimely reminder of the scandal fatigue that Americans were forced to endure during the Presidency of her husband, Bill Clinton. Last Monday, the Guardian newspaper, the BBC, the French newspaper, Le Monde and dozens of other news outlets disclosed that the Swiss banking unit of the global behemoth bank, HSBC, had assisted the ultra rich in hiding assets and providing advice on how to evade domestic tax authorities. The documentation for the revelations was provided by a former HSBC employee, Hervé Falciani, to the International Consortium of Investigative Journalists. That news broke on Monday, February 9. The Clinton bombshell came the next day, Tuesday, February 10, when the Guardian reported that seven clients of the Swiss … Continue reading
Interconnected Banks Pose Greatest Threat to U.S. Financial System
By Pam Martens and Russ Martens: February 17, 2015 Last Thursday, the Office of Financial Research (OFR), part of the Federal boondoggle created under the Dodd-Frank financial reform legislation in 2010 to foster the illusion that the government was reining in risk on Wall Street, released a new study showing almost unfathomable levels of systemic and interconnected risk among the too-big-to-fail banks that cratered the U.S. financial system in 2008 and has left our economy still struggling to right itself. Authored by Meraj Allahrakha, Paul Glasserman, and H. Peyton Young, the report reconfirms to Americans that nothing significant has been accomplished in the last six years to prevent casino capitalism on Wall Street from crashing our financial system and the U.S. economy again. The report found that five U.S. banks had high contagion index values — Citigroup, JPMorgan, Morgan Stanley, Bank of America, and Goldman Sachs. The authors write: “…the … Continue reading
Is a Strong Dollar Good or Bad for the U.S. Economy?
By Pam Martens and Russ Martens: February 12, 2015 The “thriving” U.S. economy as reported in a Bloomberg News headline this morning – a characterization which supports the U.S. central bank’s position and little else – was further undermined by the 8:30 a.m. release of retail sales for January, which dramatically undercut analysts’ estimates and came in at a decline of 0.8 percent. January’s drop followed a negative 0.9 percent reading in December. Consumer spending represents roughly 70 percent of Gross Domestic Product (GDP) growth in the U.S. If the consumer is retrenching, despite all the prognostications for all that extra money sluicing through their bank accounts from cheaper gas at the pump and lower heating fuel bills, the economy can hardly said to be “thriving.” The troublesome headline at Bloomberg News this morning was this: “Who’s Afraid of the Rising Dollar? Not the Thriving U.S. Economy.” The article, by … Continue reading
The Fed’s Accelerating Economy Theory Versus Tens of Thousands of Job Cuts
By Pam Martens and Russ Martens: February 11, 2015 Increasingly, the Federal Reserve appears to be telling Americans: don’t believe your lying eyes — or ears. Yesterday afternoon, Steve Ricchiuto, Chief U.S. Economist at Mizuho Securities USA, gave a gutsy interview on CNBC where he called into further question the Fed’s kooky talk of an accelerating economy that needs a rate hike to rein it in. Ricchiuto has a Masters Degree in Economics from Columbia University – one of those pesky, street smart guys who know a load of bull when he hears it and doesn’t mind telling you so. Ricchiuto had this to say on CNBC: “The deflation story is very, very critical but there’s also this wrong concept that I keep hearing over and over again in the financial press about this acceleration in economic growth. That isn’t happening. Last month we had a horrible retail sales number. … Continue reading
Oil Glut: Is North America the New Swing Producer?
By Pam Martens: February 10, 2015 Citigroup read a lot of people’s minds yesterday who have been quietly wondering what happens to the price of oil when the glut becomes so extreme that the world runs out of storage containers to hold the oversupply or the cost of storage becomes uneconomic as the price of oil languishes. Citigroup’s head of commodity research, Edward Morse, wrote in a report yesterday that “Not only is the market oversupplied, but the consequent inventory build looks likely to continue toward storage tank tops.” Morse said the oversupply could push U.S. domestic crude, West Texas Intermediate or WTI, below $40 and possibly into the “$20 range for a while.” WTI is trading currently at $52.29 in early morning trade. On the basis of the Citigroup report, CNN ran the headline: “End of OPEC Is Closer to Reality.” Adding to the end of OPEC thesis, the … Continue reading
Second Alleged Murder-Suicide by JPMorgan Worker in Seven Months
By Pam Martens and Russ Martens: February 9, 2015 For the second time in seven months, an employee of JPMorgan Chase is alleged to have brutally murdered his wife and then taken his own life. According to Bergen County, New Jersey Prosecutor John Molinelli and police reports, 27-year old Michael A. Tabacchi and his wife, Iran Pars Tabacchi (who also went by the name Denise) were discovered dead on Friday evening, February 7, in their home in Closter, New Jersey. Their infant son was in the home and unharmed. He is under the care of the paternal grandparents. A text message from the home had been sent to the father of Michael Tabacchi asking him to come to the home, according to media reports. The father found the couple. County Prosecutor Molinelli seems to have made short work of his investigation, tweeting yesterday: “Autopsy on Closter couple shows wife died … Continue reading