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Recent Posts
- Jamie Dimon’s Washington Post OpEd Gets Pummeled at Yahoo Finance
- In the Span of 72 Hours, Four People Tied to a Hewlett-Packard Criminal Case Died in Two Separate Events
- Crypto Took Down Another Federally-Insured Bank and Just Handed Its CEO a 24-Year Prison Sentence
- All the Devils from 2008 Are Back at the Megabanks: Leverage, Off-Balance-Sheet Debt, Over $192 Trillion in Derivatives, Shaky Capital Levels
- New Study Says the Fed Is Captured by Congress and White House — Not the Megabanks that Own the Fed Banks and Get Trillions in Bailouts
- Data from the Fed’s Emergency Funding Program Shows Spring 2023 Banking Crisis Was Far Deeper than Americans Were Told
- These FDIC-Insured Banks Have Lost 69 to 40 Percent of their Market Value Year-to-Date
- Exposure at Hedge Funds Has Skyrocketed to Over $28 Trillion; Goldman Sachs, Morgan Stanley and JPMorgan Are at Risk
- We Charted the Plunge and Rebound in the Nikkei Versus Nomura and Citigroup; the Correlation Is Frightening
- Former U.S. Labor Secretary Says Billionaires Have No Right to Exist Because their Wealth Comes from Five Illegal or Bad Practices
- 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
Search Results for: koch
Washington Post Reporter Spreads Blacklist of Independent Journalist Sites
By Pam Martens and Russ Martens: December 1, 2016 Craig Timberg, a Washington Post reporter with an interesting history (which we’ll get to shortly), doubled down last night with a new article suggesting that Congressional legislation may be coming to further crack down on independent journalists not properly adhering to the dogma of Washington. Timberg has become the deserving piñata of writers like Matt Taibbi of Rolling Stone, Ben Norton and Glenn Greenwald of The Intercept, Max Blumenthal of AlterNet, Robert Parry at Common Dreams and numerous other writers at alternative media. Timberg and the Washington Post, which is owned by the billionaire CEO of Amazon, Jeff Bezos, are being stridently called out as McCarthyites for an article published on Thanksgiving Day that cited unnamed “experts” at a shadowy group called PropOrNot to smear 200 alternative media sites as tools of Russia. The blacklist included some of the most informed … Continue reading
The Right Wing Group Behind Donald Trump’s Rise Aims to Keep Fear Alive
By Pam Martens and Russ Martens: November 20, 2016 Citizens United, the nonprofit organization that brought the U.S. Supreme Court case that has unleashed unlimited corporate spending in elections, sent three of its top strategists to run the Donald Trump campaign in its floundering days of 2016. Here’s the timeline: On July 11, 2016, the Trump campaign announced that it had “enlisted the services of Bryan Lanza, who will serve as the Deputy Communications Director for Surrogates. Mr. Lanza’s focus will be on organizing and mobilizing Trump supporters in an effective way that allows Mr. Trump’s America First message to resonate with voters.” Lanza came from Citizens United where he had been Communications Director. On August 17, 2016, the New York Times reported that Steve Bannon would become Chief Executive of the Trump campaign. The article focused on Bannon’s role at Breitbart News but Bannon was the long-tenured filmmaker for … Continue reading
Richard Cordray: Blacks Are Trapped in a System of Financial Barricades
By Pam Martens: July 20, 2016 Richard Cordray and the Federal agency he heads, the Consumer Financial Protection Bureau (CFPB), have been in the cross hairs of right wing Republicans and the corporations they front for since the agency opened its doors in 2011 to confront the abuses exposed in the financial crisis of 2008. The agency’s work to level the playing field for all Americans and stop the vicious wealth transfer system that the deregulation era of the 90s has unleashed on the financially unsophisticated has fueled unprecedented backlash. During the Republican Presidential debate on November 10 of last year, a corporate-funded front group, the American Action Network, with ties to the Koch brothers, repeatedly ran an advertisement portraying the CFPB as a communist group. (See our detailed report here.) The CFPB presents multiple threats to the financial looters. The CFPB has made it easy for consumers to file … Continue reading
House Republicans Think the Fed Is In Conspiracy With the Rich: Are They Right?
By Pam Martens and Russ Martens: June 23, 2016 Millions of Americans think that Congressional Republicans are in conspiracy with groups like the U.S. Chamber of Commerce, Cato Institute, Koch brothers, and the Mercatus Center to advance an agenda of increasing corporate profits while sacking the needs of the poor and middle class. That doesn’t mean, however, that Republicans can’t sometimes spot a conspiracy on the part of others. Yesterday, four Republicans on the House Financial Services Committee, during the semi-annual monetary policy testimony by Fed Chair Janet Yellen, presented a persuasive argument that it’s really the Federal Reserve (which was flattered by many House Democrats at the hearing) that’s sacrificing the poor and middle class in order to benefit the rich and “the Goldman Sachs CEOs of the world.” Congressman Ed Royce, Republican from California, said that he was “concerned that the Federal Reserve has created a third pillar … Continue reading
Shelby’s Senate Banking Committee Has No Pretense of Fairness
By Pam Martens and Russ Martens: April 4, 2016 Tomorrow the Senate Banking Committee, chaired by Senator Richard Shelby since the Republicans took control of the Senate in the 2014 midterms, will hold a hearing on “Assessing the Effects of Consumer Finance Regulations.” That title can be easily translated into “How to Achieve the Lobbyists’ Dream Wish of Killing Off the Consumer Financial Protection Bureau and Its Embarrassing Ability to Perpetually Show How Deregulation of the Financial Services Industry Has Led to Wholesale Looting of the Public.” Senator Shelby does not even make a pretense of presenting a balanced slate of witnesses at these hearings and one has to question why the Ranking Member, Senator Sherrod Brown, a Democrat, is not holding Shelby’s feet to the fire on this issue. Tomorrow’s hearing has three panelists listed: Leonard Chanin, Of Counsel at Morrison and Foerster – a law firm that was … Continue reading
Citadel’s Ken Griffin: Poster Child for Americans’ Anger in this Election
By Pam Martens and Russ Martens: April 1, 2016 According to Forbes, Ken Griffin, CEO and founder of the hedge fund, Citadel, has a net worth of $7.6 billion. But unbeknownst to most Americans, Citadel received a windfall boost from the taxpayers’ pocketbook sometime between September 18 to December 12, 2008. That was during the Wall Street crash when the U.S. government had taken over the big insurer, AIG, and decided to pay 100 cents on the dollar on AIG’s obligations to Wall Street banks and hedge funds. Did the U.S. government have to pay 100 cents on the dollar when AIG was unable to pay what it owed. Absolutely not. It could have negotiated prudently on behalf of the taxpayer. Instead, it doled out at least $93.2 billion as payment in full to banks and hedge funds, of which Citadel received at least $200 million. We say, at least, because … Continue reading
United Technologies: Boss Gets $192 Million, 110-Foot Yacht as 2100 Jobs Move to Mexico at $3 an Hour
By Pam Martens and Russ Martens: March 18, 2016 A young black girl got a civics lesson in dystopian society sitting in the front row of the Senate Banking hearing this past Tuesday. Her expression was that of someone watching a Halloween horror film. The young girl was the daughter of Lisa Fairfax, a George Washington University law professor who brought her family members along to share her confirmation hearing to potentially become a Commissioner at the Securities and Exchange Commission. Hopefully, what the young girl observed will be enough to head her off in a career direction of white collar criminal law. Senator Joe Donnelly delivered a heartfelt review of what is going on in his home state of Indiana, asking the two SEC nominees, Hester Peirce and Fairfax, what role the SEC should play in the matter. Donnelly stated: “Ms. Peirce, I want to tell you a little … Continue reading
The Craziest Video You’ll Ever Watch on JPMorgan’s Jamie Dimon
By Pam Martens and Russ Martens: March 2, 2016 Two interesting things happened this week in Jamie Dimon’s world: two gutsy attorneys, Helen Davis Chaitman and Lance Gotthoffer, published a book comparing JPMorgan Chase to the Gambino crime family, explaining how the bank could and should be prosecuted under RICO statutes for serial frauds against the investing public. Taking a diametrically different tack, Bloomberg Markets magazine editor, Joel Weber, fawned over Dimon in a Bloomberg TV interview, repeatedly asserting that Jamie Dimon is all about the customer. This Bloomberg video is so hilarious we had to watch it several times to make sure it wasn’t satire. As Weber makes his case that Dimon is all about the customer, his Bloomberg colleague, Stephanie Ruhle, is having none of it, reminding the obviously star-struck Weber that the big banks are hated in this country for good reason. Instead of acknowledging the serial frauds … Continue reading
New York Times Rethinks Hillary Clinton for President
By Pam Martens and Russ Martens: February 29, 2016 You know there is something bizarre going on in American politics when the New York Times endorses Hillary Clinton for President at the end of January and then begins to question her judgment before a month goes by. What message does it send to voters when a major newspaper sounds like it has endorser’s remorse and we’re still in the primary season? One month ago, the Old Gray Lady said that Democratic primary voters “have the chance to nominate one of the most broadly and deeply qualified presidential candidates in modern history.” Unfortunately, they weren’t talking about Senator Bernie Sanders of Vermont, who has served with distinction in Congress for 25 years (16 years in the House and the last nine years in the Senate). The Times was speaking about Hillary Clinton, whose actual tenure in Washington feels like it is one … Continue reading
Details in Flux in Death of Justice Scalia
By Pam Martens and Russ Martens: February 14, 2016 The facts surrounding the death of Associate Supreme Court Justice, Antonin Scalia, are in a state of continual flux. The question is why? The highly controversial Justice is reported to have died sometime between Friday night and Saturday morning at an isolated 30,000-acre luxury resort, Cibolo Creek Ranch in West Texas. The ranch is 30 miles from civilization. Scalia was initially reported to have gone there with “a friend” to quail hunt but that has been called into question. The name of the friend has not been released, raising more questions as to why the public has been denied a full accounting of the matter. The owner of the resort, John Poindexter, a Houston multi-millionaire, told NBC News that Scalia arrived at the ranch at around noon on Friday on a charter flight from Houston. As for the quail hunting, Poindexter … Continue reading