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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
Department of Justice Has Six Ongoing Investigations of JPMorgan
By Pam Martens: August 8, 2013 If a major Wall Street firm is being investigated by the Securities and Exchange Commission (SEC), that’s one thing. The SEC has no criminal powers to prosecute. And when it comes to Wall Street mega banks, there is a long tradition of fines and slaps on the wrist rather than prosecutions. But when there is an open investigation by the Department of Justice, which does possess the power to criminally prosecute, there should be concern in the marketplace, if for no other reason than the fact that there is significant public attention being paid to the DOJ’s failure to prosecute big Wall Street firms. Yesterday, JPMorgan Chase filed its quarterly 10Q with the SEC. If ever there was a document making a convincing case for breaking up the big banks and restoring the Glass-Steagall Act, this is it. JPMorgan reported it is under investigation … Continue reading
Billionaire-Media, the End Game of Cartel-Capitalism
By Pam Martens: August 7, 2013 It’s only Wednesday and two major American newspapers, in separate transactions, have been purchased for cash by billionaires – in a fashion reminiscent of how they might shop for a bauble at Cartier. On Saturday, John Henry, hedge fund trader turned owner of the Boston Red Sox, bought the Boston Globe from the New York Times for $70 million in cash. Forbes puts Henry’s net worth at $1.5 billion as of March of this year. On Monday came the news that Jeffrey Bezos, CEO of online retailer Amazon.com, is purchasing the Washington Post for $250 million in cash. Forbes puts Bezos’ net worth at $25.2 billion as of March. Included in the Washington Post deal is the Post’s web site, the Express newspaper, Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times, the Spanish-language newspaper El Tiempo Latino as well as a production and printing … Continue reading
‘Citizens DisUnited’ Unravels America’s Road to Corporate Dictatorship
By Pam Martens: August 6, 2013 Robert A.G. Monks has written a very dangerous book, Citizens DisUnited: Passive Investors, Drone CEOs, and the Corporate Capture of the American Dream. Grab two copies of this book as fast as you can: put one out to sea in a watertight bottle for future archeologists to piece together the downfall of America; put another in a safe in your home. If things continue on the path we’re on, corporations will be rounding up books like this for bonfires. Monks’ book is a serious threat to the status quo because there are only a handful of Americans who could so deftly unravel the corporate takeover and corruption of every device or institution available to the average citizen to have a meaningful voice in society. Monks builds his case, much as a skilled trial lawyer presents his evidence to the jury, but in an immensely … Continue reading
Framing the Wall Street Commodity Investigation for Carl Levin
By Pam Martens: August 5, 2013 The Senate’s Permanent Subcommittee on Investigations, chaired by Senator Carl Levin, has disclosed that it is conducting an investigation into the ownership and warehousing of physical commodities by large Wall Street firms. Senator Levin has also announced that he will not run for reelection next year – meaning this could be one of his last major opportunities to save the country from the further ravages of Wall Street. The Senate investigation comes four long years after 60 Minutes reported that Morgan Stanley had acquired the capacity to store 20 million barrels of oil. The report also showed that Goldman Sachs had taken stakes in companies owning oil storage terminals. The 60 Minutes report was in 2009. In 2008, during the financial crisis, the Federal Reserve had approved making Morgan Stanley and Goldman Sachs bank holding companies – giving them the ability to own banks … Continue reading
Goldman Sachs Salesman Takes One for the Team; Jury Finds Against Tourre
By Pam Martens: August 2, 2013 Jon Stewart calls them “those f*!*!ing guys. Matt Taibbi at Rolling Stone calls them “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” Today, they’re the Wall Street megabank that dodged securities fraud charges by greasing the hand of government with $550 million while their 34-year old salesman stood trial for the crimes. Yesterday, nine jurors found that a Goldman Sachs vice president, Fabrice Tourre, (infamously known as Fabulous Fab from an email in the case) was liable on six counts of violating federal securities law by intentionally misleading investors. Just what his penalty will be and whether he will be barred from ever working again on Wall Street will be determined at a later date. The Securities and Exchange Commission, which has no criminal powers, brought the case as a civil suit. Only … Continue reading
Is President Obama Trying to Socialize the Press to Silence Over Larry Summers?
By Pam Martens: August 1, 2013 President Obama met in a closed door session with the House Democratic Caucus yesterday and was told that Lawrence (Larry) Summers is a decidedly bad choice for Federal Reserve Chairman. That assessment triggered a strident response from the President. He defended Summers and praised him for his hard work during the 2008 financial crisis. The President’s praise of Summers has been met with a new volley of press today that is keeping it fresh in the minds of the voting public that were it not for Summers’ brashness and bullying of opponents to deregulate Wall Street, repeal the Glass-Steagall Act, and keep trillions of dollars of derivatives off regulated exchanges during the Clinton administration – there might not have been a 2008 financial crisis. Summers served as both Deputy Secretary at the Treasury and Secretary during Clinton’s Presidency. It’s tough to convince the public that a … Continue reading
Carl Levin Opens New Investigation Into Wall Street; Obama Hits the Stump for the Middle Class
By Pam Martens: July 31, 2013 After packing his administration with 1 percenters or people earning a lucrative living off the 1 percenters, President Obama has decided, seemingly out of the blue, to hit the stump on behalf of the plight of the struggling middle class while railing against the income inequality that plagues the U.S. Could the President’s new focus have anything to do with a new probe of Wall Street practices opened by Carl Levin and the Senate’s Permanent Subcommittee on Investigations? The Subcommittee is delving into the hoarding of physical commodities by the largest firms on Wall Street. Whether the President is cognizant of the fact or not, the two issues are indelibly linked. Hoarding physical commodities pushes up prices on everything from the cost of food and beverage packaging to the price of a tank of gas to get to work or heating oil to stay warm … Continue reading
The Wall Street Cartel
By Pam Martens: July 30, 2013 The financial crimes you can’t see are the ones that can really hurt you. When Congress, the media, the financial experts talk about transparency on Wall Street, it is always in abstract terms: we should have more transparency; we should know more details about the kinds of risks Wall Street is taking with other people’s money; we should be able to see the nature of derivatives trading being conducted in private agreements between Wall Street firms; we should make the big banks hold more capital to offset all the risks we know they’ll never let us see until it’s too late. Unfortunately, we can’t fix Wall Street’s problems by discussing them in the abstract. We need to be comprehensively cognizant of what Wall Street has become, peel away the artifices layer by layer, and put in legislative fixes that get quickly to the problem – … Continue reading
Larry Summers and Presidential Arrogance
By Pam Martens: July 29, 2013 Half a decade has now passed since the great Wall Street collapse of 2008. Millions of words have attempted to capture the epic greed, arrogance and corruption that brought on the greatest financial implosion since the Great Depression. The Financial Crisis Inquiry Commission issued 662 pages on the subject. The U.S. Senate and House of Representatives have held an endless stream of hearings. Dozens of books by authors who had a front row seat to the chaos line our bookshelves and libraries. And yet, despite all this, the President of the United States can’t seem to remember who caused the collapse of our financial system; who caused the collapse of the housing market and millions of foreclosures and the resulting joblessness that still grips the country. President Obama can’t seem to recall that it was the financial de-regulators of the Clinton administration who bullied … Continue reading
Hedge Fund Rogue or Modern Day Robin Hood? A Charitable Look at Steven A. Cohen
By Pam Martens: July 26, 2013 U.S. Attorney Preet Bharara of the Department of Justice released a criminal indictment yesterday against one of the most well known hedge funds on Wall Street, SAC Capital Advisors. Bharara said the firm had institutionalized insider trading as a business model over more than a decade, incentivizing employees who provided hot insider tips with large bonuses, which in turn molded the company into a “veritable magnet for market cheaters.” Eight former employees have been charged and six have already pleaded guilty. In the past, when large financial firms which hold customer assets have been charged in a criminal indictment, the company has unraveled within a brief period of time. According to media reports, the government may seek as much as $10 billion from SAC as forfeiture for the crimes committed. That raises questions about the $187 million in charitable donations that Steven A. Cohen, … Continue reading