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Recent Posts
- Citigroup Is Having a Helluva Summer: A Protest on Thursday Will Turn Up the Heat
- Nikkei Has Biggest Drop in History: Here’s What’s Causing the Global Market Selloff
- JPMorgan Is Tapping Illiquid Assets in its Global Collateral Program; the New York Fed Is Paying for Its Services
- Bank Regulators Issue Warnings on Fintech and Banking as Disasters Pile Up
- Donald Trump Gives a Speech on Not Letting China Win the Crypto Race – Not Realizing China Banned Crypto Mining and Transactions Four Years Ago
- The New York Fed Has Contracted Out Key Functions to JPMorgan Chase; We Filed a FOIA and Got These Strange Invoices
- 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
Search Results for: JPMorgan
Jamie Dimon’s Bogus Award for Best Investor Relations Raises Ghosts of the Past
By Pam Martens: March 26, 2013 The only entity less deserving of an Investor Relations award is the magazine that just gave one to JPMorgan’s Chairman and CEO, Jamie Dimon, last Thursday evening. Six days before the awards event hosted by IR Magazine (that stands for Investor Relations Magazine but could also stand for Insane Rationale Magazine) which went unattended by Dimon (likely out of fear he might trip over the people rolling on the floor at his award) the U.S. Senate Permanent Subcommittee on Investigations released a 307 page report and 98 exhibits proving beyond a shadow of a doubt that Dimon and his CFO at the time, Douglas Braunstein, either lied through their teeth to investors and investment analysts or were in the dark about what was going on within their own company when the Chief Investment Office churned $6.2 billion of bank deposits into pocket change. At … Continue reading
Senate Banking Fails to Approve Mary Jo White for Full Term at SEC
By Pam Martens: March 21, 2013 Despite all the corporate media headlines that Mary Jo White would sail through her confirmation vote before the Senate Banking Committee on Tuesday, what actually happened stands in stark contrast to the prognostications. White was not approved for a full four-year term at the SEC. She was confirmed simply to finish out the remaining 14-month term of former SEC Chair Mary Schapiro’s term. President Obama sent the following nomination language to the Senate: “Mary Jo White, of New York, to be a Member of the Securities and Exchange Commission for the remainder of the term expiring June 5, 2014, vice Mary L. Schapiro, resigned. Mary Jo White, of New York, to be a Member of the Securities and Exchange Commission for a term expiring June 5, 2019.” But when the Senate Banking Committee met in Executive Session on Tuesday, March 19, 2013, there was no … Continue reading
Senator Sherrod Brown Drops a Bombshell in Mary Jo White’s Hearing
By Pam Martens: March 13, 2013 Americans learned for the first time on March 6 of this year that the highest law enforcement agent in our country, Attorney General Eric Holder, weighs economic interests when deciding whether to enforce our Nation’s laws against criminal wrongdoers like the too-big-to-fail banks. The spectacle of warped law enforcement grew worse today during the Senate Banking confirmation hearing of Mary Jo White to head the Securities and Exchange Commission. Under questioning by Senator Sherrod Brown (D-Ohio), White admitted that even the economy of a foreign country – like Japan – is taken into consideration before bringing a criminal indictment in the U.S. Even worse, White was forced to admit that while working for the U.S. Department of Justice as the U.S. Attorney for the Southern District of New York (from 1993 to 2002), she considered it appropriate to speak with Larry Summers (a Treasury Secretary … Continue reading
Is Wall Street Still Dangerous? Yes, According to Senate Hearings
By Pam Martens: March 8, 2013 For years I’ve used the phrase “Frankenbanks” in my articles – those global banking behemoths created as a result of the repeal of the Glass-Steagall Act in 1999 that allow the co-mingling of FDIC insured mom and pop savings accounts with investment banking activities that blow up things using the mom and pop savings accounts leveraged to the hilt. Now the U.S. Senate is making my case for me on the use of Frankenbanks as an appropriate soubriquet. If we date the run up to the financial crisis as beginning in the summer of 2007, which the Office of the Comptroller of the Currency does, it is more than five years since Congress has been studying why Wall Street is very adept at blowing up things but adept at not much else – like its main job of fairly allocating capital to new companies that … Continue reading
Is the Justice Department Conspiring on the Libor Conspiracy
By Pam Martens: March 5, 2013 Just when one thinks the winks and nods between Washington and Wall Street couldn’t get any worse, there is growing evidence that the U.S. Justice Department knows that 20 banks engaged in the rigging of Libor but is intentionally delaying bringing charges against U.S. banks JPMorgan Chase and Citigroup. Evidence is also stacking up that while the largest banks in the world were under intensive investigation for rigging Libor, they continued to rig it, while regulators remain dumbfounded about what to do. And, in an Alice in Wonderland type of development, despite trillions of dollars of financial products resetting based on the Libor index, a key regulator says it’s become a fictional benchmark because the loans between banks that it’s based on have all but disappeared. Libor is an acronym for London Interbank Offered Rate. It is supposed to be a reliable reflection of the rate at … Continue reading
Is Wall Street Killing America? Don’t Ask Jamie Dimon; He Just Wants to Talk About His Wealth
By Pam Martens: March 4, 2013 Last November, one of Europe’s largest publications, the German news magazine Der Spiegel, splashed a terminally ill Uncle Sam on its front cover. Inside we are told that “Many developing countries are now looking to China instead of the US as a role model on how to structure a country. They are no longer seeking the light of the American beacon on the horizon.” One of the reasons cited by the article for America’s decline is that our best and brightest no longer focus their talents and energies on enriching America’s future, but rush to Wall Street to line their own pockets: “About a third of the students in every graduating class at Harvard University accepts jobs in investment banking and consulting, or with hedge funds — that is, industries that produce one thing above all: fast money…” reads the article. Last week, Wall Street’s … Continue reading
Occupy Movement Files Lawsuit Against Every Federal Regulator of Wall Street
By Pam Martens: February 28, 2013 In several respects, Occupy Wall Street reminds me of the feminist movement. Corporate funded media has declared the women’s rights movement dead ad nauseam for four decades — and yet it thrives and reinvents itself. Similarly, corporate funded media has eulogized Occupy Wall Street from almost the moment of its nascent birth in the Fall of 2011. If there is a common thread connecting these movements and the dire media prognostications of their demise, it is likely that when either one advances, entrenched power — and its iron grip on the wealth of a nation — loses. Now, similar to the early court battles for women’s rights, Occupy Wall Street has tossed aside its encampments and bullhorns and donned its legal garb and pro hac vices. Occupy Wall Street’s brain trust, Occupy the SEC, just filed a Federal lawsuit that encapsulates the crony capitalist … Continue reading
Memo to the President: Actions Speak Louder Than Lofty Speeches
By Pam Martens: February 13, 2013 President Obama delivered an uplifting State of the Union address to the Nation last evening, promising “to reignite the true engine of America’s economic growth – a rising, thriving middle class.” He said it was the country’s “unfinished task to restore the basic bargain that built this country – the idea that if you work hard and meet your responsibilities, you can get ahead.” He said it was his job “to make sure that this government works on behalf of the many, and not just the few.” Unfortunately, the President’s speechwriter is not in charge of nominating candidates who could turn those lofty goals into realities. One must wonder exactly who is in charge of nominating candidates. When it comes to the most important posts that oversee Wall Street, the one industry in America that does more than any other to prevent hardworking Americans from getting ahead, … Continue reading
Obama to America: If You’ve Crashed a Major Bank, I Need You In My Cabinet
By Pam Martens: February 8, 2013 President Obama might as well drape the White House with a giant banner declaring in bold red type: “Drop Dead 99 Percent.” A pattern is emerging in the nominations coming out of the Oval Office. If you’ve played a role in collapsing a major bank, the President has a top slot for you. But only millionaires and billionaires need apply. Union busting scores extra points. Jack Lew was paid millions as Chief Operating Officer for the very division of Citigroup that collapsed the bank in 2008 and Jack Lew is nominated by the President for U.S. Treasury Secretary. Before that, Lew played a key role in busting a grad students union at New York University. Billionaire Penny Pritzker was involved in the collapse of the Superior Bank of Illinois, a Chicago savings and loan that went belly up in 2001 and now, according to … Continue reading
Who Says Tim Geithner Isn’t Getting a Big Payoff From Wall Street Pals
By Pam Martens: February 7, 2013 U.S. Treasury Secretary, Timothy Geithner Tim Geithner, who recently stepped down as U.S. Treasury Secretary, is moving on. He won’t be getting that big pay day directly from a Wall Street firm that so many expected; but he will be getting that big payday. Geithner has been named a “distinguished fellow” at the Council on Foreign Relations (CFR), a think tank whose Co-Chairman is Robert Rubin, a former U.S.Treasury Secretary under Bill Clinton and the man who played a pivotal role on Citigroup’s Board during the financial crisis. Citigroup collapsed into the arms of the U.S. government with a bailout that exceeded $2.5 trillion, including equity infusions, assets guarantees and loans from the Federal Reserve Bank of New York, which Geithner headed before becoming U.S. Treasury Secretary. The SEC charged Citigroup with lying about its exposure to subprime debt by $39 billion and imposed … Continue reading