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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
An Intern Dies in the Hands of Mother Merrill
By Pam Martens: August 22, 2013 The lingering impact of the Wall Street crash of 2008 to 2010 has devastated the job market for young college grads. The government debt piled on to bail out Wall Street has killed the prospects for the next generation’s standard of living. Now, Wall Street is literally killing the next generation. Moritz Erhardt, a 21-year old college intern working for the investment banking division of Bank of America Merrill Lynch, was found dead in his shower after working around the clock for three straight days at the U.S. bank’s offices in London, according to published reports from fellow interns who shared the premises. Merrill Lynch, known on the street as “Mother Merrill,” wants you to know it is “deeply shocked and saddened.” London newspapers are reporting that Erhardt had worked eight all-nighters in a two-week period in hopes of securing a permanent post at Merrill … Continue reading
Goldman Sachs’ Busted Trades; Busted Confidence in Fixing Wall Street
By Pam Martens: August 21, 2013 The last 30 days have been pretty much the summer from hell for the Obama administration’s efforts to shore up confidence that its policing of Wall Street is producing results. Still under multiple investigations for rigging the interest rate benchmark known as Libor, we learned late last month that Wall Street’s largest firms have also gained effective control of the London Metal Exchange and are causing financial damage to the economy by hoarding aluminum in metal warehouses. On top of that, JPMorgan recently paid a $410 million fine for rigging electricity markets in California and the Midwest while two of JPMorgan’s traders were just criminally indicted for their role in the infamous London Whale matter where $6.2 billion of bank deposits were lost in a wild trading scheme. Certainly no slouch, Goldman Sachs is holding up its end in the busting of public confidence … Continue reading
What Was Really Behind President Obama’s Meeting With Wall Street Regulators
By Pam Martens: August 20, 2013 The White House issued a statement yesterday on the President’s meeting with the federal agencies that regulate Wall Street. Curiously, the phrase used to describe the agencies was “independent regulators.” The President’s Deputy Press Secretary, Josh Earnest, held a press briefing with reporters yesterday, taking questions on the meeting. In that briefing, Earnest referred to the regulators as “independent” seven times. If the President now finds it necessary to attempt to brainwash the American public through endless repetition of the word “independent” to shore up sagging public doubt that there are any real cops on the beat when it comes to policing Wall Street, he has no one to blame but himself. When President Obama appointed Mary Jo White to head the Securities and Exchange Commission (SEC), Jack Lew for U.S. Treasury Secretary, and has floated the idea for weeks that Larry Summers could … Continue reading
Statement on President’s Meeting With Wall Street Regulators
August 19, 2013 This afternoon, the White House released the following statement on what transpired at the 2:15 p.m. meeting today between the President and Wall Street regulators. According to the President’s daily schedule printout, the meeting took place in the Roosevelt Room. We will have significantly more to say on this subject tomorrow. ~~~ “This afternoon, President Obama hosted a meeting with lead independent financial regulators. In addition to White House staff, participants include the Comptroller of the Currency, the Director of the Consumer Financial Protection Bureau (CFPB), the Acting Director of the Federal Housing Finance Agency (FHFA), and the chairs of the Board of Governors of the Federal Reserve System (FRB), the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, and the Securities and Exchange Commission (SEC). Treasury Secretary Jack Lew also attended the meeting. “The President and the regulators … Continue reading
Congress Has Lost Control of the Big Banks
By Pam Martens: August 19, 2013 On January 16 of this year, Richard Fisher, President of the Federal Reserve Bank of Dallas, delivered a speech on the continuing threat to the U.S. economy posed by the too-big-to-fail banks. Fisher said: “I submit that these institutions, as a result of their privileged status, exact an unfair tax upon the American people. Moreover, they interfere with the transmission of monetary policy and inhibit the advancement of our nation’s economic prosperity.” As part of his talk, Fisher presented a chart showing the Frankenbank nature of the five largest banks in the U.S. – JPMorgan, Bank of America, Goldman Sachs, Citigroup, and Morgan Stanley. Cumulatively, these five banks are the parent to 19,654 subsidiaries or affiliates while their nondeposit liabilities total over $4.1 trillion – a figure equal to 26.3 percent of the Gross Domestic Product (GDP) of the country. On July 23, 2013, the … Continue reading
Senator Chuck Grassley Responds to NYU’s Decision to End Loans for Beach Homes
By Pam Martens: August 15, 2013 New York University, under withering public criticism following media disclosures that it was providing mortgage loans on vacation homes (which it frequently forgave) to elite administrators and faculty, has announced it will limit mortgage loans in the future to primary residences. In the same announcement, the University said John Sexton, NYU’s President who has received no-confidence votes from five NYU schools, will remain in his position until his current contract expires in 2016. Wall Street on Parade, the New York Times, and the New York Post have highlighted in multiple articles the lack of financial accountability at NYU. Senator Chuck Grassley took the Congressional lead in the matter when he learned during the Senate confirmation hearing of Jack Lew, President Obama’s nominee for U.S. Treasury Secretary, that NYU had given Lew more than $1 million in loans to buy a home in Riverdale, New York, and … Continue reading
President Obama’s Lunch With Hillary and His Larry Summers Problem
By Pam Martens: August 15, 2013 Yesterday, the popular New York Times columnist, Maureen Dowd, weighed in on the potential nod by President Obama to Larry Summers for Chairman of the Federal Reserve. Dowd writes with the political intuition and confidence of someone who has a Pulitzer on her shelf and three decades under her belt at the New York Times. Dowd thinks the idea for Summers for Fed chief is being pushed by “a bunch of alpha males who prefer each others’ company and who all flatter themselves that they’re smart enough to know how smart Summers is.” Among that group, Dowd lists former Treasury Secretary Robert Rubin, who teamed up with Summers in the Clinton administration to push for bank deregulation and “paved the way for the country’s ruin.” Driving this untenable push to place Summers atop the most critical monetary seat in America is, according to Dowd, … Continue reading
Looking Back on JPMorgan’s London Whale Saga
With criminal charges imminent, we look back on reporting of the London Whale revelations at Wall Street On Parade. Personal Investing Lessons From JPMorgan’s London Whale Debacle Despite a multitude of formulas for measuring risk, multiple layers of oversight management, 28 members of a risk management team with titles like Managing Director, Executive Director, and Vice President, it somehow didn’t occur to any of these folks that the number one criteria for a trading investment is that you need to be able to get out of it. Continue Reading… JPMorgan: Poster Child for the Most Dangerous Financial System Since 1929 Last Friday, Senator Carl Levin told the Senate’s Permanent Subcommittee on Investigations that JPMorgan “piled on risk, hid losses, disregarded risk limits, manipulated risk models, dodged oversight, and misinformed the public.” And here’s the punch line: that’s not even the worst of what JPMorgan did. Continue Reading… The Other Thing JPMorgan Was … Continue reading
ABACUS, London Whale: Frenchmen Take the Fall for Wall Street’s Crimes
By Pam Martens: August 13, 2013 Qu’est-ce que c’est? Frenchmen? In the quintessentially American male testosterone epicenter known as Wall Street, Frenchmen are dropping like flies. Not so much the American CEOs in Wall Street’s corner offices. The only handcuffs these guys are seeing are the golden ones. Fabrice Tourre, the 34-year old Goldman Sachs salesman from an elite educational background in France, was found guilty of six counts of securities fraud in a Manhattan jury trial that ended 12 days ago. The case was a civil suit brought by the Securities and Exchange Commission. One of those counts was for “aiding and abetting” Goldman Sachs in the fraud. Goldman Sachs did not stand trial, in the technical sense although it certainly has in the court of public opinion, because it settled its charges with a payment of $550 million. Not only did the corporation not stand trial, but neither … Continue reading
Can the World Survive Any More Financial Innovation from Larry Summers
By Pam Martens: August 12, 2013 Let’s put aside for a moment the patently ridiculous question of whether Larry Summers is fit to Chair the Federal Reserve. (Summers is one of the key officials in the Clinton administration who bullied policy makers and won the repeal of the Glass-Steagall Act and prevented the regulation of derivatives, ushering in the financial collapse of 2008. That President Obama has publicly acknowledged that he is considering Summers for the highest monetary post in the U.S. underscores the administration’s serial ability to insult public sensibilities when it comes to Wall Street.) Even if Summers does not get the nod from the President for Fed Chair, he’s back to his dangerous tinkering with the financial infrastructure of the country. Within the past four days, the New York Times has published two articles, including one on its front page, noting Summers’ involvement with a start-up company … Continue reading