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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
Jamie Dimon Has Been Juggling Too Many Criminal Balls in the Air; One Just Landed with a Bang in Judge Jed Rakoff’s Court
By Pam Martens and Russ Martens: December 2, 2021 ~ We can tell you with some confidence what Jamie Dimon, the Chairman and CEO of JPMorgan Chase, is going to be doing at 11:00 a.m. this morning. He’s going to be listening to a teleconference in a federal court case titled Shaquala Williams v JPMorgan Chase & Co. That’s because the outcome of that case will determine if the bank Dimon has helmed through five separate felony counts – all of which received non-prosecution agreements from the Justice Department – will finally be prosecuted for a crime. One might suspect that Kenneth Polite, the man President Biden nominated and the Senate confirmed to head the Criminal Division of the Justice Department in July, might also take an interest in this matter since the plaintiff is alleging that the Justice Department got played by JPMorgan Chase in its 2016 non-prosecution agreement. Unfortunately, … Continue reading
The Market from Hell Arrived Today: Dow Soars then Plunges in 1,000 Point Intraday Range
By Pam Martens and Russ Martens: December 1, 2021 ~ If you’re a stock market watcher you might want to invest in a neck brace if today’s whipsawing action is any gauge of what’s ahead. Just this morning we warned our readers to buckle up for the unwinding of the massive stock market bubble that Fed Chair Powell has been feeding with his keys to an unlimited, electronic-money printing press and his zero-interest-rate policy. As if on cue, the Dow Jones Industrial Average put on a firework display today, first zooming to an intra-day high of 35,004.64, then plunging to a low of 34,006.98. By the closing bell, the Dow was down 461.68. The decline in the Dow began shortly after 11 a.m. – almost three hours before the news broke that the first case of the new COVID variant, Omicron, had been reported in California. An Associated Press report was … Continue reading
Fed Chair Powell Delivers the Perfect Storm to a $54 Trillion Bubble Stock Market: A Pivot to Inflation Hawk and Removal of the Punchbowl
By Pam Martens and Russ Martens: December 1, 2021 ~ Fed Chair Jerome Powell along with Treasury Secretary Janet Yellen appeared before the Senate Banking Committee yesterday to deliver their semi-annual reports. Approximately 34 minutes into the hearing, in response to a question from Senator Pat Toomey, Republican from Pennsylvania, Powell announced that he was retiring the word “transitory” to describe the inflationary forces that have a grip on prices in the U.S. The stock market interpreted this to mean that Powell, who just eight days prior had become Democrat President Joe Biden’s nominee for another four years at the helm of the Fed, was now pivoting to cater to Republican inflation hawks in order to win their votes at his upcoming confirmation hearing. The Dow Jones Industrial Average quickly did a bungee dive of 402 points. About 90 minutes into the hearing, the stock market went into a new wave … Continue reading
This Chart Explains President Biden’s Strange Remarks at Yesterday’s Press Conference on the Omicron Variant
By Pam Martens and Russ Martens: November 30, 2021 ~ President Joe Biden clearly needs a new communications team that can explain to him the meaning of “under promise, outperform.” Biden began yesterday’s press conference on the newly discovered COVID variant, Omicron, stating that he had promised to always tell the American people the truth. Then he proceeded to deliver a pep talk devoid of hard evidence for the rosy promises he was making about his strategy for fighting the new Omicron variant. At one point, Biden told reporters that this Thursday he would be “putting forth a detailed strategy on how we’re going to fight COVID this winter – not with shutdowns or lockdowns, but with more widespread vaccinations, boosters and testing and more.” At this point, there is zero hard evidence that the current vaccines provide significant immunity against the Omicron variant. Scientists around the world have said that … Continue reading
Wall Street Has Deployed a Dirty Tricks Playbook Against Whistleblowers for Decades – Now the Secrets Are Spilling Out
By Pam Martens: November 29, 2021 ~ For more than two decades, the general counsels of Wall Street’s mega banks have been meeting together secretly once a year at ritzy hotels and resorts around the world. This would appear to be a clear violation of anti-trust law but since Wall Street’s revolving door has compromised the U.S. Department of Justice over much of that time span, there has been no pushback from the Justice Department to shut down these clandestine meetings. Wall Street insiders say that among the top agenda items at this annual confab are strategy sessions on how to keep Congress from enacting legislation that would bring an end to Wall Street’s privatized justice system called mandatory arbitration. This system allows the most serially corrupt industry in America to effectively lock the nation’s courthouse doors to claims of fraud from its workers and customers. This private justice system also … Continue reading
After Paying Out $86 Million in Fines Over Stolen Bank Documents, Goldman Sachs Gets a Reprieve Yesterday from the Federal Reserve
By Pam Martens and Russ Martens: November 24, 2021 ~ Yesterday the Federal Reserve Board of Governors announced the termination of an enforcement action against Goldman Sachs that dates back to 2016. It’s one more case where Goldman Sachs, the “great vampire squid,” throws its lower-ranked employees under the bus and quickly returns to “relentlessly jamming its blood funnel into anything that smells like money.” The Fed had fined Goldman Sachs a paltry $36.3 million in August of 2016 over its employees using confidential supervisory information that had been stolen from the New York Fed to make presentations to clients and prospective clients. The Fed’s settlement followed an October 28, 2015 settlement between Goldman and the New York State Department of Financial Services over similar charges. Goldman agreed to settle the NYSDFS case for $50 million. The case centers around Rohit Bansal, who had worked at the New York Fed and … Continue reading
At 3:12 P.M. Yesterday, the Stock Market Changed Its Mind on another Four Years of Jerome Powell and Plunged
By Pam Martens and Russ Martens: November 23, 2021 ~ Fed Chair Jerome Powell now finds himself in the same position as Morgan Stanley’s Howie Hubler and JPMorgan’s Bruno Iksil: he’s got a big trade on and no exit plan. The problem for the U.S. economy is this: Hubler and Iksil were gambling with billions of dollars. Powell is gambling with trillions of dollars. Powell’s Fed has effectively become the Whale in the U.S. debt market. Powell was last sworn in as Fed Chair on February 5, 2018. Five days earlier, the securities held on the Fed’s balance sheet totaled $4.2 trillion. As of last Wednesday, that figure stood at $8.179 trillion, thanks to Powell’s endless purchases of U.S. Treasury securities and agency mortgage-backed securities (MBS). Making this situation even more dicey, the Fed bought these debt securities with money it creates out of thin air. The U.S. taxpayer is on … Continue reading
Why Is JPMorgan Chase Making “Emergency” Payments to a Former Government Official Tied to Jamie Dimon?
By Pam Martens and Russ Martens: November 22, 2021 ~ We have been reading lawsuits filed against Wall Street firms in the federal district court in the Southern District of New York for more than three decades. We didn’t think that we could still be shocked by what victims of Wall Street’s abuses tell the court. But the lawsuit filed on November 11 by Shaquala Williams against JPMorgan Chase contains allegations that are both stunning and unprecedented in our experience. Williams is an attorney who formerly worked in compliance at JPMorgan Chase. Part of her role was to make sure that the bank was in compliance with a non-prosecution agreement it had signed with the Justice Department in 2016. The Justice Department had charged in 2016 that JPMorgan’s Asia subsidiary had engaged in quid pro quo agreements with Chinese officials to obtain investment-banking business and had falsified internal documents to cover up … Continue reading
Democrats Go Out on a Limb for Biden Nominee, Omarova: The Limb Snapped Yesterday
By Pam Martens and Russ Martens: November 19, 2021 ~ Yesterday, at 11:41 a.m., as Cornell Law Professor Saule Omarova sat before the Senate Banking Committee for her confirmation hearing to head of the Office of the Comptroller of the Currency (OCC), the regulator of national banks, Republican Senator Tom Cotton Tweeted the following: “Saule Omarova stole $214 (~$400 adjusted for inflation) from T.J. Maxx in 1995. She’s woefully unqualified to supervise the banking system.” Cotton’s Tweet links to a Fox News report which indicates that it has obtained the police report that shows that Omarova was 28 years old at the time of the arrest in 1995. The items she was reported to have taken without paying for them were “four pairs of shoes, two bottles of cologne, two belts and socks.” According to the report, she had left the store with the items when confronted by a security guard … Continue reading
Traders Are Running for the Exits at JPMorgan Chase. Bloomberg News Can’t Figure Out Why
By Pam Martens and Russ Martens: November 18, 2021 ~ Last Thursday, Hannah Levitt of Bloomberg News published a report about a large trader exodus at JPMorgan Chase. She wrote: “…By this fall, many of the team’s heaviest hitters had gone. “The setting wasn’t some struggling investment bank. It was the equity derivatives desk inside the mighty JPMorgan Chase & Co. – one of many pockets of employee turnover that have erupted there in recent months, keeping the company’s recruiters busy.” That article was published at 8:00 a.m. By 11:00 a.m., Bloomberg News was finessing that negative article with another article by Brian Chappatta, which appeared to be an attempt to boost both the bank’s reputation as well as that of its Chairman and CEO, Jamie Dimon. Chappatta wrote: “Even with competitive pay and the bank’s prestige, departure rates in many of its businesses are reportedly up at least a few percentage points from pre-pandemic … Continue reading