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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
An Unprecedented 1,640 CEOs Departed in 2019; Now Execs Are Dumping Stock at Highest Pace Since 2006
![Congress on Fed's 2019 Money Spigot to Wall Street](https://wallstreetonparade.com/wp-content/uploads/2019/10/Congress-on-Feds-2019-Money-Spigot-to-Wall-Street-iii-2.jpg)
By Pam Martens and Russ Martens: August 27, 2020 ~ A rather fascinating picture is emerging that suggests that things were not as rosy in the U.S. economic landscape prior to the pandemic as President Donald Trump and his Director of the National Economic Council, Larry Kudlow, would have the public believe. Challenger, Gray & Christmas, Inc. has been tracking CEO departures for the past 12 years. Its Vice President, Andrew Challenger, called the numbers for 2019 “staggering.” It was the highest number since their surveys began in 2002. A total of 1,640 CEOs headed for the exits last year. That was 156 more CEOs than those who left their post in 2008 – the year that Wall Street blazed a scorched earth trail through the U.S. economy. The number of CEOs that did not leave on their own accord last year was 101 out of the 1,640. According to … Continue reading
When It Comes to JPMorgan, Warren Buffett Isn’t Buying the Spin from the Fed and the Street
![Warren Buffett](https://wallstreetonparade.com/wp-content/uploads/2020/08/Warren-Buffett.jpg)
By Pam Martens and Russ Martens: August 26, 2020 ~ At his press conference on June 10 of this year, Fed Chairman Jerome Powell said this about the U.S. banking system, which includes a little more than 5,000 federally insured banks but is dangerously concentrated in the hands of just five mega banks on Wall Street. “You have a banking system that is so much better capitalized, so much stronger, better aware of its risks, better at managing its risks, more highly liquid. You have all of those things and they’ve been lending, they’ve been taking in deposits, they’ve been a source of strength in this situation.” Warren Buffett, Chairman and CEO of Berkshire Hathaway, is apparently not buying the story that Powell is attempting to sell to the public. According to Berkshire Hathaway’s 13F filing with the Securities and Exchange Commission for the quarter ending June 30, 2020, Buffett … Continue reading
After 92 Years, Exxon Is Booted from the Dow Jones Industrial Average: A Nod to Sustainable Energy?
![Oil Rig](https://wallstreetonparade.com/wp-content/uploads/2020/03/Oil-Rig-Thumbprint-150x142.jpg)
By Pam Martens and Russ Martens: August 25, 2020 ~ Yesterday, S&P Dow Jones Indices made the stunning announcement that Exxon Mobil, which has been in the Dow Jones Industrial Average for 92 years, will be replaced in the index before trading begins next Monday, August 31, by Salesforce, a company that went public in 2004. (Exxon Mobil became a component of the Dow in 1928 under the name Standard Oil of New Jersey.) Two other companies are also being replaced in the Dow before trading begins on Monday. The biotech company, Amgen, will replace the more traditional pharmaceutical company, Pfizer. Industrial technology products company, Honeywell International, will replace Raytheon Technologies. In its official press release announcing the changes, S&P Dow Jones Indices said this: “The index changes were prompted by DJIA constituent Apple Inc.’s decision to split its stock 4:1, which will reduce the index’s weight in the Global … Continue reading
Steve Bannon Is Arrested for Nonprofit Fraud after Using an Octopus of Nonprofits to Help Elect Trump
![Steve Bannon](https://wallstreetonparade.com/wp-content/uploads/2020/08/Steve-Bannon-iii-150x150.jpg)
By Pam Martens and Russ Martens: August 21, 2020 ~ One of the key right-wing architects of Donald Trump’s 2016 presidential campaign, Stephen K. (Steve) Bannon, was arrested early yesterday morning while cruising in the Long Island Sound on a 150-foot yacht owned by the fugitive Chinese billionaire, Guo Wengui, according to law enforcement officials. Bannon had served as CEO of Donald Trump’s 2016 presidential campaign and as senior counselor and chief strategist to the president for the first seven months of his term. Bannon, along with three others, were charged with defrauding donors in a $25 million fundraising scheme called “We Build the Wall.” The plan was originally described as money to support President Trump’s efforts to build a wall on the southern border with Mexico but was later changed to a privately-funded project to build a wall. Some of the money did actually build a segment of wall. … Continue reading
3-Time Felon JPMorgan Chase Wants to Burnish Its Image by Co-Branding with the U.S. Postal Service’s 91 Percent Approval Rating
![Jamie Dimon, Chairman and CEO of JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/07/Jamie-Dimon-Film-Grain-100pix.jpg)
By Pam Martens and Russ Martens: August 20, 2020 ~ We have a marketing suggestion for the U.S. Postal Service Board of Governors if it is nutty enough to accept JPMorgan Chase’s overture to place its ATM machines on the premises of U.S. post offices. The marketing idea goes like this: place a big red, white and blue sign over each JPMorgan Chase ATM machine that reads: “From the wonderful folks who were Bernie Madoff’s bankers.” Business media was abuzz yesterday with the news that JPMorgan Chase has had conversations with the U.S. Postal Service regarding placing the bank’s ATM machines in post office branches. CNBC quoted Trish Wexler, a spokeswoman for JPMorgan Chase, confirming the talks and making the following statement: “We had very preliminary conversations with the U.S. Postal Service several months ago about what it might look like to lease a small number of spaces to place … Continue reading
Using Koch Money, Cato Institute Has Led the Drumbeat to Denigrate and Privatize the U.S. Postal Service
![U.S. Postmaster General, Louis DeJoy](https://wallstreetonparade.com/wp-content/uploads/2020/08/U.S.-Postmaster-General-Louis-DeJoy-150x150.jpg)
By Pam Martens and Russ Martens: August 19, 2020 ~ The first thing you need to know about the right-wing Cato Institute is that it quietly began its life as the Charles Koch Foundation in 1974. The name was changed to the Cato Institute in 1977 according to the restated articles of incorporation. For decades, the Cato Institute enjoyed a taxpayer subsidy as a nonprofit while being secretly owned by a handful of men, two of whom were the fossil fuel billionaire brothers, Charles and David Koch – libertarians with a radical agenda. (David Koch died in August of last year.) The second thing to know about the Cato Institute is that over the past 35 years, Koch-related foundations have pumped more than $22 million into its coffers to help Cato get out its messaging of killing off the following: Social Security; federally-subsidized school lunches; the minimum wage; collective bargaining; … Continue reading
Charles Koch Walks a Tight Rope — Shaping Elections to His Liking while Quietly Using Popular Consumer Brands Like Dixie and Brawny to Fund His Agenda
![Koch Thumbnail](https://wallstreetonparade.com/wp-content/uploads/2020/08/Koch-Thumbnail-iii-1-150x103.jpg)
By Pam Martens and Russ Martens: August 17, 2020 ~ Charles Koch is the Chairman and CEO of the fossil fuels giant, Koch Industries, ranked by ValueWalk as the second largest private corporation in America. Forbes puts his net worth at $45 billion. While Koch Industries has sprawling holdings in pipelines and refineries, in 2005 it bought the paper and lumber company, Georgia-Pacific. That Koch Industries’ division relies on the goodwill and trust of consumers in order to achieve billions of dollars in revenues for its Dixie disposable paper plates, bowls and cups; its Northern Quilted and Angel Soft bath tissue; its Brawny and Sparkle paper towels; and its Vanity Fair and Mardi Gras table napkins. The perception that Charles Koch, the man who has sat atop Koch Industries for more than half a century, is attempting to subvert the will of American voters on behalf of his fellow billionaires … Continue reading
Pull Back the Curtain on Efforts to Kill the U.S. Postal Service and Out Pops Koch Money
![Charles Koch](https://wallstreetonparade.com/wp-content/uploads/2020/07/Charles-Koch-150x150.jpg)
By Pam Martens and Russ Martens: August 14, 2020 ~ Since May, the nonprofit group funded with Koch’s fossil fuels money, Americans for Prosperity (AFP), has been mobilizing to defeat the House stimulus bill known as the HEROES Act. In a letter sent to members of Congress, AFP Chief Government Affairs Officer Brent Gardner wrote that AFP wants to see the bill killed and specifically mentions it does not want to see a bailout of the Postal Service. Today, Aaron Gordon at Vice is reporting that he’s gotten his hands on internal documents from the Postal Service which show that orders have come down from above to destroy approximately 500 mail sorting machines – which cost millions of dollars. Witnesses have told Gordon that they’ve seen the machines “destroyed or thrown in the dumpster.” Gordon’s latest report follows yesterday’s news that mail service has been slowed down in multiple parts … Continue reading
Aid to “Badly Managed” States Versus Aid to “Badly Managed” Wall Street Banks
![Great Bank Heist](https://wallstreetonparade.com/wp-content/uploads/2020/04/Great-Bank-Heist-1-150x116.png)
By Pam Martens and Russ Martens: August 14, 2020 ~ According to the official press briefing transcript on August 8, President Donald Trump explained the stalemate between his administration and the Democrats in passing the latest stimulus bill as follows: “…what the Democrats primarily want is bailout money. It has nothing to do with the China virus. It has nothing to do with anything that we’ve been talking about over the last period of time. They want to bailout states that have been badly managed by Democrats, badly run by Democrats for many years — and, in fact, in all cases, many decades. And we’re not willing to do that.” But according to the U.S. Government’s Bureau of Economic Analysis, two of the states making outsized contributions to the GDP of the United States are California and New York. They are just two states out of a total of 50 … Continue reading
Wall Street Banks Sell Off in Midst of Largest Treasury Auction in History
![](https://wallstreetonparade.com/wp-content/uploads/2018/08/wall-street-sign-thumbnail-150x149.jpg)
By Pam Martens and Russ Martens: August 13, 2020 ~ The Federal Reserve has thrown everything just short of the kitchen sink at propping up the mega banks on Wall Street – the same ones that were never prosecuted for their fraudulent issuance of mortgage securities and causing the worse economic crash since the Great Depression in 2008. (The Fed bailed the same banks out back then also – to the tune of $29 trillion in cumulative loans.) But yesterday’s market action suggests that something is definitely amiss. The S&P 500 index closed at 3380, just 7 points away from topping its all-time high of 3386 that it set on February 19 of this year. The Dow also gained 289.9 points on the day. But now look at the chart above. There was a sea of red in the Wall Street bank stocks. While the losses in Citigroup, Bank of America, … Continue reading