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Recent Posts
- On the Eve of Netanyahu’s Address to Congress, Senator Bernie Sanders Delivers a Breathtaking Assessment of His War Crimes
- 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”
Search Results for: JPMorgan
OCC Report Shows JPMorgan Chase Owns 62 Percent of all Stock Derivatives Held at 4,914 Banks in the U.S.
![Jamie Dimon Sits in Front of Trading Monitor in his Office (Source -- 60 Minutes Interview, November 10, 2019)](https://wallstreetonparade.com/wp-content/uploads/2019/11/Jamie-Dimon-Sits-in-Front-of-Trading-Monitor-in-his-Office-Source-60-Minutes-Interview-November-10-2019-iii-150x127.jpg)
By Pam Martens and Russ Martens: December 23, 2021 ~ The Office of the Comptroller of the Currency (OCC), the regulator of national banks that operate across state lines, released a report on Monday that details the quantity and variety of derivatives held by commercial banks, savings associations and trust companies as of September 30. (According to the Federal Deposit Insurance Corporation, there were 4,914 commercial banks, savings associations and trust companies operating in the U.S. with FDIC insurance as of September 30.) The striking detail in the OCC report is that one taxpayer-backstopped, federally-insured bank, JPMorgan Chase Bank N.A., is for some unfathomable reason sitting on 62 percent of all stock (equity) derivatives held at all 4,914 federally-insured banks in the United States. The second striking detail is that this federally-insured bank’s holdings of stock derivatives come to a notional amount (face amount) of $3.3 trillion. (Yes, trillion with a … Continue reading
JPMorgan’s Crime Wave Continues, Calling into Question the Justice Department’s Lax Settlement with the Bank Last Year
![Gary Gensler, SEC Chairman](https://wallstreetonparade.com/wp-content/uploads/2021/04/Gary-Gensler-SEC-Chairman.jpg)
By Pam Martens and Russ Martens: December 20, 2021 ~ JPMorgan Chase is the largest bank in the United States. It also has the scandalous distinction of having admitted to five criminal felony counts brought by the U.S. Department of Justice since 2014 and a breathtaking series of additional charges from other regulators. (See its Rap Sheet here.) On Friday, the Securities and Exchange Commission fined the securities unit of JPMorgan Chase $125 million for evading the ability of the SEC to adequately conduct its investigations of the bank because there was “firmwide” use by traders, supervisors and other personnel of non-official communications devices to conduct its business, while the firm failed to record and retain these messages as required by law. These new violations occurred despite similar conduct during the bank’s participation in the rigging of the foreign exchange market, which brought a criminal felony charge against the bank by … Continue reading
Why Is JPMorgan Chase Making “Emergency” Payments to a Former Government Official Tied to Jamie Dimon?
![Jamie Dimon Being Sworn In at House Financial Services Committee Hearing, May 27, 2021](https://wallstreetonparade.com/wp-content/uploads/2021/05/Jamie-Dimon-Being-Sworn-In-at-House-Financial-Services-Committee-Hearing-May-27-2021-iii.jpg)
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
Traders Are Running for the Exits at JPMorgan Chase. Bloomberg News Can’t Figure Out Why
![Billionaire Owner of Bloomberg News, Michael Bloomberg](https://wallstreetonparade.com/wp-content/uploads/2019/10/Billionaire-Owner-of-Bloomberg-News-Michael-Bloomberg-iii-150x150.jpg)
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
A Second Female Lawyer Who Worked at JPMorgan Chase Says Fraud Is Condoned at the Bank
![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: November 15, 2021 ~ The previous time a female lawyer who worked at JPMorgan Chase blew the whistle on frauds occurring inside the bank, the U.S. Department of Justice, along with other federal and state regulators, ended up charging the bank with selling toxic mortgage securities to investors and making JPMorgan Chase pay $13 billion to settle the charges. That female lawyer was Alayne Fleischmann, as Matt Taibbi detailed in a report for Rolling Stone in 2014. Taibbi summarizes the matter as follows: “Back in 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she describes as ‘massive criminal securities fraud’ in the bank’s mortgage operations.” According to Fleischmann, who worked as a Transaction Manager at JPMorgan, her department was assigned with assuring that only good mortgage loans were securitized but, instead, under pressure from bosses, it waived in improperly … Continue reading
The Inspector General’s Report on JPMorgan’s London Whale Is a Guide to What to Expect from Its Probe of the Fed’s Trading Scandal
![Mark Bialek, Inspector General, Federal Reserve Board](https://wallstreetonparade.com/wp-content/uploads/2021/11/Mark-Bialek-Inspector-General-Federal-Reserve-Board-145x150.jpg)
By Pam Martens and Russ Martens: November 2, 2021 ~ The Office of Inspector General (OIG) for the Federal Reserve is conducting an investigation of the trading activities that led to the resignations of Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren on September 27. The trading of other Fed officials may also be under the microscope. The OIG investigations are conducted by federal criminal investigators who have the power to “carry firearms, seek and execute search and arrest warrants, and make arrests without a warrant in certain circumstances.” The investigative findings can be referred to the U.S. Department of Justice for criminal or civil prosecution, if warranted. In the case of Kaplan, the matter belongs in the hands of the Department of Justice right now. Despite having ongoing access to market-moving information throughout 2020, Kaplan was trading in and out of S&P 500 futures in individual trades … Continue reading
Jes Staley’s Ties to Jeffrey Epstein at JPMorgan Chase Just Cost Him His CEO Job at Barclays
![Jes Staley](https://wallstreetonparade.com/wp-content/uploads/2019/08/Jes-Staley-iii.jpg)
By Pam Martens and Russ Martens: November 1, 2021 ~ Jes Staley, the CEO at the British global bank, Barclays, is stepping down immediately following a probe by British regulators into his ties with child sex trafficker, Jeffrey Epstein. Staley’s ties to Epstein occurred while he was an executive at JPMorgan Chase, the U.S. bank that has racked up five felony counts from the U.S. Department of Justice in the past seven years. Staley will be replaced as CEO by Barclays’ head of global markets, C.S. Venkatakrishnan, who himself came from JPMorgan Chase. Reuters reported early this morning that Staley’s abrupt departure came after Barclays was informed this past Friday of the, as yet unreleased, findings of a report by U.K. financial regulators’ into Staley’s characterization of his relationship with Epstein, who killed himself in jail in August 2019 while awaiting trial on charges involving child sex trafficking. On February 13 … Continue reading
When It Comes to Frauds, Wells Fargo Is on the Bunny Slope Watching JPMorgan Hop Moguls on the Black Diamond Trail
![Hannah Lang, Reporter for American Banker](https://wallstreetonparade.com/wp-content/uploads/2021/09/Hannah-Lang-Reporter-for-American-Banker.jpg)
By Pam Martens and Russ Martens: September 23, 2021 ~ There was a strange occurrence at Fed Chairman Jerome Powell’s press conference yesterday. Hannah Lang, a reporter for American Banker, asked Powell a question about Wells Fargo. Powell read his answer directly from a script in a binder he had on the podium. (You can watch the exchange in the video clip below. Be sure not to miss the exchange that follows Lang’s question when Mike Derby of the Wall Street Journal grills Powell on the outrageous trading that Dallas Fed President Robert Kaplan was doing last year to enrich himself (while his country was in a declared National Emergency and pandemic crisis). Lang mentioned that Senator Elizabeth Warren had cited “what she called ungovernable behavior” from Wells Fargo and called for Powell to break up the bank by revoking its bank holding company charter. Lang asked under what circumstances the … Continue reading
Senator Elizabeth Warren and Bloomberg News Need to Give It a Rest with Bashing Wells Fargo and Turn Their Attention to 5-Count Felon, JPMorgan Chase
![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: September 17, 2021 ~ On Tuesday of this week, Bloomberg News published its umpteenth negative article on the San Francisco-headquartered bank, Wells Fargo. This time around, the article was highlighting Senator Elizabeth Warren calling for Wells Fargo to be broken up, with its federally insured bank separated from its Wall Street businesses. Bloomberg News syndicates its articles, so this story was quickly splashed all over other news outlets. And that’s the way it has been going since 2017. When Senator Warren bashes Wells Fargo, she gets lots of coverage by New York media outlets. Since March of 2018, Bloomberg News has published more than 80 negative articles on Wells Fargo with headlines like these: Wells Fargo CEO Abruptly Steps Down, Succumbing to Scandals; Wells Fargo’s CEO Disputes Claim His Bank Is Too Big to Manage; Elizabeth Warren on Wells Fargo CEO’s Departure: ‘About Damn Time’; Ex-Wells Fargo Bosses Face … Continue reading
Quietly, JPMorgan Chase Has Been Battling Another Felony Charge – This Time for Tax Fraud in France. Its Defense Is Its “Human Rights” Have Been Violated.
![Thierry Marembert, an Attorney for JPMorgan Chase in Wendel Tax Fraud Case](https://wallstreetonparade.com/wp-content/uploads/2021/09/Thierry-Marembert-Attorney-for-JPMorgan-Chase-in-Wendel-Tax-Fraud-Case.jpg)
By Pam Martens and Russ Martens: September 1, 2021 ~ JPMorgan Chase is the bank that gambled with the bank deposits of moms and pops across America in 2012 by trading exotic derivatives in London and losing $6.2 billion in the process. It’s also the bank that admitted to two felony counts in 2014 for its role in facilitating Bernie Madoff ripping off the life savings of thousands of more moms and pops across America. Its rap sheet of ripping off the little guy reads like that of an entrenched crime family. But when the bank was indicted in France on April 16, 2015 for being complicit in tax fraud, it had the temerity to appeal the charges on the basis that its “human rights” had been violated, along with various codes of criminal procedure. Its argument boiled down to this: it hadn’t been advised that it had the right to … Continue reading