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Recent Posts
- Trump’s Sit-Down with Netanyahu at Mar-a-Lago Will Cost U.S. Taxpayers Millions While Profiting Trump’s Business
- 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
Category Archives: Uncategorized
How Criminal Charges Against a Wall Street Icon Went from Front Page News to a Yawn at the New York Times
![](https://wallstreetonparade.com/wp-content/uploads/2020/09/JPMorgan-Chase-Building-150x112.jpg)
By Pam Martens and Russ Martens: October 19, 2020 ~ On May 2, 1985 the highest law enforcement officer in the United States, the head of the U.S. Department of Justice, Attorney General Edwin Meese, held a news conference to announce that the sixth largest brokerage firm on Wall Street, E.F. Hutton, was pleading guilty to 2,000 felony counts of wire and mail fraud. It had also agreed to pay criminal fines of $2 million and up to $8 million in restitution to the 400 banks it had defrauded. The fraud had lasted less than two years, from July 1, 1980 and February 28, 1982, and consisted of the following according to the Justice Department: “The essence of the charges was that Hutton obtained the interest-free use of millions of dollars by intentionally writing checks in excess of the funds it had on deposit in various banks.” On the following … Continue reading
Harper’s Provides a Chilling Account of Secret Presidential Powers
![](https://wallstreetonparade.com/wp-content/uploads/2020/06/White-House-iii-150x122.jpg)
By Pam Martens and Russ Martens: October 18, 2020 ~ Andrew Cockburn has a stunning report in the November issue of Harper’s Magazine on secret Presidential Emergency Action Documents (PEADs) that “implement extraordinary presidential authority in response to extraordinary situations.” Cockburn notes that these sweeping powers have been “Compiled without any authorization from Congress” and were not on the public’s radar “until Donald Trump started to brag about them.” In March, Trump made this statement: “Well, we have things that I can do. We have very strong emergency powers under the Stafford Act. And we are — we have it — I mean, I have it memorized, practically, as to the powers in that act. And if I need to do something, I’ll do it. I have the right to do a lot of things that people don’t even know about.” Cockburn walks us through how Presidents throughout history have … Continue reading
Stock Mutual Funds Have Had Net Outflows for 25 Weeks, Bringing Total to $388.7 Billion — a Record
![Piggy Bank Thumbnail](https://wallstreetonparade.com/wp-content/uploads/2018/06/Piggy-Bank-Thumbnail-150x114.jpg)
By Pam Martens and Russ Martens: October 16, 2020 ~ Refinitiv Lipper, which has been tracking mutual fund flows for the past 18 years, reports that for the week ended Wednesday, October 14, equity (stock) mutual funds marked their 25th week of net negative outflows, losing -$8.6 billion for the week. Year-to-date, that brings their net outflows to -$388.7 billion. Refinitiv Lipper notes that if that figure stands, it will be the “largest annual net outflows ever, significantly outdistancing last year’s net negative result (-$294.0 billion).” That’s a pretty historic achievement given that the U.S. had the worst stock market freak out since the Great Depression in 2008 and early 2009. The S&P 500 Index lost 56.8 percent from October 9, 2007 to March 9, 2009. What raises further alarm bells about the steady outflow from stock mutual funds this year is that for the past 9-1/2 months there has … Continue reading
The Fed Wants the Public to Know It Can Withhold Information Under an Executive Order and Defy Subpoenas from Courts and Congress
![Jerome Powell, Chairman of the Federal Reserve](https://wallstreetonparade.com/wp-content/uploads/2019/11/Jerome-Powell-Thumbnail-143x150.jpg)
By Pam Martens and Russ Martens: October 15, 2020 ~ The United States is experiencing the worst pandemic since 1918. The U.S. economy is experiencing the worst economic crisis since the Great Depression of the 1930s. And the general public is attempting to vote in the most important presidential election of a lifetime with obstacles like fake ballot boxes, 5-hour wait lines, and destroyed mail-sorting machines. What is the central bank of the United States, the Federal Reserve, doing with its free time at this critical moment? It’s rewriting its rules for responding to Freedom of Information Act (FOIA) requests from the public and media. After revising the Fed’s own FOIA rules earlier this year, the Fed is now rewriting the FOIA rules for the Federal Open Market Committee (FOMC). That just happens to be the entity in charge of sluicing that cumulative $9 trillion to trading houses on Wall … Continue reading
Senator Whitehouse Named Names in Dark Money Tutorial at Amy Barrett’s Confirmation Hearing
![Senator Sheldon Whitehouse (D-RI)](https://wallstreetonparade.com/wp-content/uploads/2020/10/Senator-Sheldon-Whitehouse-D-RI-1.jpg)
By Pam Martens and Russ Martens: October 14, 2020 ~ You could hear a lot of throat clearing from the live mic at the table where Supreme Court nominee Amy Coney Barrett sat yesterday as Senator Sheldon Whitehouse (D-RI) brilliantly exposed the tentacles of the corporate and fossil fuels money that was attempting to ram her onto the U.S. Supreme Court. (See the full video of the presentation by Whitehouse below.) As a former U.S. Attorney for the Justice Department and former Attorney General of Rhode Island, Whitehouse knows corruption when he sees it. The Whitehouse tutorial was a summation of a 29-page treatise by Whitehouse that appeared earlier this year in the Harvard Law School Journal on Legislation. That article provides an in-depth look at how dark money has plied its corporate agenda to steal representative government from the American people. If you are searching for answers as to how … Continue reading
New Book Proves U.S. Is Living Under a Disastrous Banking Model from a Century Ago
![Taming the Megabanks](https://wallstreetonparade.com/wp-content/uploads/2020/10/Taming-the-Megabanks-iii.png)
By Pam Martens and Russ Martens: October 13, 2020 ~ It has been the contention of Wall Street On Parade for more than a decade that today’s so-called “universal banks,” also variously known as megabanks or Global Systemically Important Banks (G-SIBs), are a banking model from hell that was thoroughly discredited in the tens of thousands of transcripts and documents released by the U.S. Senate following its multi-year investigation of that structure in the early 1930s. Now the seminal book proving that theory has just been published. Written by Arthur E. Wilmarth, Jr. and titled Taming the Megabanks: Why We Need a New Glass-Steagall Act, the book brilliantly takes the reader through a riveting guided tour covering the past century and the resurrection of this same disastrous U.S. banking model in 1999. Oxford University Press is the publisher of Wilmarth’s book. We can envision it becoming one of the most … Continue reading
If You’re Baffled as to Why JPMorgan Chase’s Board Hasn’t Sacked Jamie Dimon as the Bank Racked Up 5 Felony Counts – Here’s Your Answer
![Jamie Dimon, Chairman and CEO of JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/11/Jamie-Dimon-iii.jpg)
By Pam Martens and Russ Martens: October 12, 2020 ~ For years we’ve been trying to figure out why JPMorgan’s Board of Directors hasn’t sacked its Chairman and CEO, Jamie Dimon, as the bank racked up two felony counts in 2014 for its failure to alert U.S. regulators to glaring red flags in the bank account it held for Bernie Madoff’s Ponzi scheme; one felony count in 2015 for rigging foreign exchange markets; and two more felony counts just last month for rigging the precious metals and U.S. Treasury market. (The bank admitted to all five counts.) In addition, the bank came under another criminal investigation in 2012 and 2013 when it lost $6 billion of its bank depositors’ money gambling in credit derivatives in London (the London Whale scandal). Turns out Jamie Dimon has been taking very good care of the Directors on his Board and they have been … Continue reading
Citigroup Is Slapped with a $400 Million Fine for Doing Something So Bad It Can’t Be Spoken Out Loud
![Michael Corbat, CEO of Citigroup Since 2012](https://wallstreetonparade.com/wp-content/uploads/2020/01/Michael-Corbat-ii.jpg)
By Pam Martens and Russ Martens: October 8, 2020 ~ Federal regulators are rapidly becoming bigger Dark Pools of information than those secretive stock exchanges run by the big banks on Wall Street. On Tuesday, September 29, when all eyes were focused on the presidential debate to occur that evening, the Justice Department issued a press release announcing the fourth and fifth felony counts against JPMorgan Chase in the past six years. In an unprecedented move, the Justice Department did not hold a press conference to explain why the country’s largest bank is allowed to perpetually commit felonies with no change in management. The bank admitted to the charges and was put on a three-year probation – its third such probation in six years. Jamie Dimon, the Chairman and CEO of the bank, who has presided over all five felony counts, was left in place at the bank. Yesterday, when … Continue reading
Billionaire Charles Koch, Whose Minions Staffed Up the Trump Administration, Has a Common Bond with Russian Election Interference
![Charles Koch](https://wallstreetonparade.com/wp-content/uploads/2020/07/Charles-Koch-150x150.jpg)
By Pam Martens and Russ Martens: October 7, 2020 ~ Charles Koch is the billionaire owner of Koch Industries, one of the largest private companies in the world with vast interests in fossil fuels, refineries, chemicals, lumber, paper and glass manufacturing. A subsidiary of Koch Industries is Koch Supply and Trading, which engages in commodities trading on a scale rivaling the largest banks on Wall Street. Charles Koch also heads an operation variously known as the Koch Network or the Kochtopus, because its tentacles are strangling the life out of representative government in the United States. The operation hosts semiannual strategy sessions where obscenely rich Americans get together to jointly commit hundreds of millions of dollars to keep Congress and the Oval Office in the hands of fossil fuel-friendly candidates who have demonstrated an obedience to a deregulatory agenda. Koch Foundation money and two dark money groups, Donor’s Capital Fund … Continue reading
As 98,000 Businesses Permanently Closed, the Fed and Treasury Have Sat on $340 Billion of Untapped Money from the CARES Act
![Fed Chair Powell and Treasury Secretary Mnuchin](https://wallstreetonparade.com/wp-content/uploads/2020/07/Fed-Chair-Powell-and-Secretary-Mnuchin-iii-2-150x75.jpg)
By Pam Martens and Russ Martens: October 6, 2020 ~ When both parties in Congress came together in March to pass the CARES Act, which was signed into law by President Trump on March 27, the clear intention of the legislation was for the U.S. Treasury to hand over $454 billion of taxpayers’ money to the Federal Reserve. The Fed, in turn, was to leverage the money by 10 times to approximately $4.54 trillion to deploy to keep the economy moving, credit flowing, workers employed and businesses alive until the pandemic had been brought under control. Fed Chairman Jerome Powell made an unprecedented appearance on the Today show on March 26 and explained the plan like this: “In certain circumstances like the present, we do have the ability to essentially use our emergency lending authorities and the only limit on that will be how much backstop we get from the Treasury Department. … Continue reading