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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
The U.S. Has Given Top Secret Clearance to Elon Musk and Over $19 Billion in Contracts, Ignoring His Illegal Drug Use and Phone Chats with Putin as His SpaceX Puts Spy Satellites into Orbit

By Pam Martens and Russ Martens: October 28, 2024 ~ American taxpayers are footing the bill for 17 U.S. intelligence agencies. Those agencies allowed Donald Trump to become Commander in Chief in 2017, despite multiple women charging him with sexual assaults, his six business bankruptcies and a long history of inflating his wealth to defraud banks. These same 17 intelligence agencies then sat back for four years and allowed Donald Trump to receive Top Secret intelligence briefings and purloin dozens of boxes of classified government documents as he angrily left office after a failed insurrection at the Capitol building. Now, yet another billionaire, Elon Musk, has shown these intelligence agencies to have little bark and no bite when it comes to confronting powerful, ultra wealthy men. The Wall Street Journal reported last week that Elon Musk, who as CEO of SpaceX holds a Top Secret government security clearance and is launching spy … Continue reading
Goldman Sachs Has Ripped Off Its Customers for a Century – a Puny $64.8 Million Fine for Abusing Thousands of Apple Credit Card Customers Fails the Smell Test

By Pam Martens and Russ Martens: October 24, 2024 ~ The Consumer Financial Protection Bureau (CFPB) typically receives high praise from Wall Street On Parade for leveling the playing field between the pillagers on Wall Street and the hardworking poor and middle class of America. But yesterday’s announcement of the CFPB’s settlement with Goldman Sachs and Apple over some of the most abusive conduct we have observed against consumers in decades left us with the impression that Goldman Sachs’ lawyers had browbeat the CFPB into a watered-down deal. The enforcement action by the CFPB pertained to years of abuses by both Apple and Goldman Sachs involving the Apple Credit Card. Under the CFPB’s settlement, Goldman Sachs will pay $19.8 million in redress to victims and a $45 million civil money penalty, bringing Goldman’s total settlement to $64.8 million. Apple will pay a $25 million civil money penalty for a combined $89.8 million … Continue reading
Academic Paper Finds U.S. Banking System Is Less Safe Today than Before the 2010 Dodd-Frank Financial Reform Legislation Was Passed

By Pam Martens and Russ Martens: October 22, 2024 ~ Four researchers at the University of Westminster School of Finance and Accounting in London have taken a hard look at the much-touted Dodd-Frank financial reform legislation in the U.S. that was signed into law by President Barack Obama in 2010. The voluminous 848-page bill followed the greatest financial crash in the U.S. since the Great Depression. Unfortunately, it was big on word count and short on iron-clad reforms, leaving the implementation of final rules to be negotiated by revolving-door regulators and an army of Wall Street lobbyists and lawyers. (For how that has played out over the ensuing 14 years, see here, here, here and here.) The authors of the study are Dr. Julie Ayton; Professor Abdelhafid Benamraoui; Dr. Huyen (Trang) Ngo; and Dr. Stefan van Dellen. They define the purpose of the study as follows: “The research paper tests two critical … Continue reading
Jerome Powell’s Fed Notches an Historic Record of $204 Billion in Cumulative Operating Losses – Losing Over $1 Billion a Week for More than Two Years

Commentary Next to Arrows Has Been Added by Wall Street On Parade. By Pam Martens and Russ Martens: October 21, 2024 ~ According to its own FRED data, the last time the central bank of the United States – the Federal Reserve – operated in the green was September 14, 2022, more than two years ago. Since then, it has been consistently losing over $1 billion a week with its cumulative operating losses now topping $204 billion as of the last reporting by the Fed on October 16, 2024. Operating losses of this magnitude are unprecedented at the of Fed, which was created in 1913. If a publicly-traded company had been bleeding operating losses of more than $1 billion a week for more than two years, there would very likely be a change of leadership at the top. But Fed Chair Jerome Powell is no ordinary mortal. He survived the worst trading … Continue reading
Could Big Tech Own Federally-Insured Banks? Here Are the Dangers

By Pam Martens and Russ Martens: October 17, 2024 ~ The risk of Big Tech firms like Alphabet (Google), Amazon, Apple, Meta (Facebook), and Microsoft getting an entrée into the federally-insured banking system by being allowed to buy or create a federally-insured industrial bank has raised alarm bells among three nonprofit watchdogs and the law professor who, literally, wrote the book on the mushrooming systemic risks in the U.S. banking system. Arthur E. Wilmarth, Jr., Professor Emeritus of Law at George Washington University Law School, joined with the Consumer Federation of America, Americans for Financial Reform Education Fund, and the Center for Responsible Lending, to file an 18-page letter last Friday with the Federal Deposit Insurance Corporation (FDIC). (For background on Wilmarth’s seminal book, see our report: Everything this Book Predicted on Wall Street Megabanks Ruling their Regulators Is Now Unfolding.) Friday’s letter was in response to the FDIC’s proposal to … Continue reading
FEMA Was First Targeted by Project 2025; Now FEMA Workers Are Being Threatened While Providing Disaster Relief in North Carolina

By Pam Martens and Russ Martens: October 15, 2024 ~ On Sunday, the Washington Post reported that it had obtained an email penned by a Forest Service official who was assisting in Hurricane Helene recovery response operations in Western North Carolina indicating that the Federal Emergency Management Agency (FEMA) “had advised agencies on the ground to relocate workers, noting that U.S. military personnel ‘had come across…trucks of armed militia saying they were out hunting FEMA.’ ” While the report of trucks of armed militia has yet to be confirmed, a North Carolina man armed with a handgun and AR-style rifle was arrested on Saturday after allegedly stating that he was going to “go mess up some FEMA personnel,” according to Captain Jamie Keever of the Rutherford County, North Carolina Sheriff’s Office. The arrested man, 44-year old William Jacob Parsons, has been released on bail. That decision will, no doubt, raise anxiety … Continue reading
Bloomberg News Writes Puff Pieces on Jamie Dimon While Its Parent Does Business Deals with the Bank He Heads, JPMorgan Chase

By Pam Martens and Russ Martens: October 14, 2024 ~ For years now, we have observed the digital front page of Bloomberg News treating JPMorgan Chase’s Chairman and CEO, Jamie Dimon, as the wise, venerable statesman of Wall Street. (See here, here, and here for a quick background.) That reverential treatment has continued as the bank Dimon is charged with overseeing has admitted to the following: laundering money for the largest Ponzi scheme mastermind in history, Bernie Madoff; rigging foreign exchange markets; rigging trading in U.S. Treasury securities and the precious metals markets; using depositors’ money from its federally-insured bank to trade derivatives in London and lose at least $6.2 billion of its depositors’ money; bribing Chinese officials with jobs for their relatives in order to get business deals in China. Even worse, throughout much of last year, the Attorney General of the U.S. Virgin Islands built a comprehensive case in federal court … Continue reading
Hurricanes Helene and Milton Send Climate Change Wakeup Call as Gulf of Mexico Water Breaks Heat Records

By Pam Martens and Russ Martens: October 11, 2024 ~ The size, wind speed intensity, and devastating water impacts of hurricanes originating from the record hot waters of the Gulf of Mexico have sent a wake up call to local and state officials up and down the East Coast of the United States as well as to federal government officials engaged in disaster relief. Hurricane Helene made landfall on Thursday night, September 26, as a Category 4 hurricane near Perry, Florida. It then proceeded to unleash its wrath northward, plowing through Georgia, South Carolina, North Carolina, and Tennessee. Decimated areas in Western North Carolina – cities and towns such as Asheville, Chimney Rock, Lake Lure, Fairview, Black Mountain and Swannanoa – are 485 miles north of where Hurricane Helene made landfall in Florida. Unprecedented levels of rainfall from Hurricane Helene turned Western North Carolina rivers into raging torrents of water that … Continue reading
A Bank Regulator Provides a Frightening Look at the Trading Casino Jamie Dimon Has Built Inside His Federally-Insured Bank

By Pam Martens and Russ Martens: October 7, 2024 ~ On September 24, the Office of the Comptroller of the Currency (OCC) released its Quarterly Report on Bank Trading and Derivatives Activities for the second quarter of this year. The OCC is the federal regulator of banks that operate across state lines, which are known as “national banks.” The shorthand for this report should be the “Casino Report.” Increasingly, the report showcases how much dangerous trading activity the brokerage firms on Wall Street have been able to muscle into their federally-insured banking units where the deposits of millions of average Americans reside. Since the repeal of the Glass-Steagall Act in 1999 under the Bill Clinton administration, Wall Street trading firms have been allowed to combine with federally-insured banks – creating an endless series of crises and bailouts. No bank has been able to blur the lines between a trading casino and … Continue reading
Report: “Flash Flooding Is the Number One Storm-Related Killer in the U.S.” Few Cities or Towns in America Are Built to Survive Its Wrath

By Pam Martens and Russ Martens: October 3, 2024 ~ As desperate and traumatized residents of Western North Carolina have learned over the past week, everything Americans thought they knew about storm threats must now be reexamined. Some Western North Carolina counties located 485 miles north of where Hurricane Helene made landfall as a Category 4 hurricane on September 26 in Florida’s Big Bend area have reported more deaths than the entire state of Florida. At yesterday’s press briefing in Buncombe County, North Carolina, Sheriff Quentin Miller reported that the death toll for his county from Hurricane Helene had reached 61; that’s four times the 14 Hurricane Helene-related deaths that the state of Florida is reporting. As of this morning, total deaths reported in all states impacted by Hurricane Helene is 190, making it the deadliest hurricane to hit the U.S. mainland since Hurricane Katrina in 2005. After wiping out communities on … Continue reading