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Recent Posts
- Trump’s “Big Beautiful Bill” Is a Grotesque Giveaway to Fossil Fuel Billionaires While Adding $3.3 Trillion to Nation’s Debt
- Senator Chris Murphy Charges that Trump “Has Opened a Channel for Bribery”
- Congressman Casten: Trump’s Assault on the Rule of Law Is Causing Capital Flight Out of U.S. by Foreign Investors
- Trump’s Approval Rating Drops to 80-Year Low; IMF Says U.S. Tariffs Now Exceed the Highs During the Great Depression
- Nasdaq Has Lost More than 3,000 Points Since Trump’s First Full Day in Office in 2025; the Pain Has Barely Begun
- The Bond Crisis Last Week Was a Global No-Confidence Vote in U. S. President Donald Trump
- Trump’s Tariff Plan Guts $5 Trillion in Stock Value in Two Days; Senator Warren Calls for Emergency Action Before Markets Open on Monday
- Trump’s Attacks on Big Law, Universities, and the Media Have a Common Goal: Silence Dissent Against Authoritarian Rule
- Trump Administration Gives All Clear to Laundering Money through Shell Companies and Bribing Foreign Officials
- Four Megabanks on Wall Street Hold $3.2 Trillion in Uninsured Deposits – Which May Explain Senator Schumer’s Pivot to the GOP to Stop a Government Shutdown
- Here’s What Came Crashing Down Yesterday for Trump’s “Genius” Guy, Elon Musk: Tesla Stock, Access to Twitter (X), His Years of Secret Calls with Putin
- After Banning the Associated Press, Trump Is Now Targeting Specific Journalists That He Wants to See Fired
- Closely Watched Atlanta Fed Model Predicts Negative U.S. Growth in First Quarter
- Trump’s Gangster Diplomacy Makes Front Page Headlines Around the Globe
- Who Benefits Alongside Elon Musk If He Succeeds in Killing the CFPB: the Megabanks on Wall Street that Underwrite His Tesla Stock Offerings
- In Trump 1.0, the State Department Used Taxpayer Money to Publish a Book Elevating Elon Musk to a Superhero; It Was Funded by USAID, the Agency Musk Wants to Quickly Shut Down
- News Host Joy Reid Raises Threat of Trump Selling U.S. to Putin; Ten Days Later Her Show Is Cancelled
- Elon Musk’s DOGE Appears to Be Violating a Court Order; It Has Taken Down Hundreds of YouTube Videos that Educate Americans on How to Avoid Being Swindled
- Barron’s Releases Audio of Jamie Dimon Cursing Out His Workers at a Town Hall, as Dimon Plans to Dump Another One Million JPM Shares
- There’s One Federal Investigative Agency that Neither Trump nor Elon Musk Can Touch: It Just Opened an Investigation into DOGE
- Elon Musk’s Companies Were Under Investigation by Five Inspectors General When the Trump Administration Fired Them and Made Musk the Investigator
- Donald Trump Gives the Greenlight to Goldman Sachs and JPMorgan Chase to Return to Bribing Foreign Officials
- After Tech Geeks Built a Back Door to Loot Billions from FTX, Republicans Refuse to Investigate What Elon Musk’s Tech-Squad Did Inside the U.S. Treasury’s Payment System
- Former Prosecutor, Now U.S. Senator, Informs Tesla That CEO Musk May Be Violating Federal Law and to “Preserve All Records”
- Trump’s Hedge Fund Guy Is Now Overseeing the U.S. Treasury, IRS, OCC, U.S. Mint, FinCEN, F-SOC, and the Consumer Financial Protection Bureau
- As Elon Musk Begins Shutting Down Payments to Federal Contractors, a Strange Money Trail Emerges to His Operatives Inside the U.S. Treasury’s Payment System
- JPMorgan Chase Charged by Yet Another Internal Whistleblower with Cooking the Books
- We Asked Google’s AI Search Model, Gemini, Questions About the Fed and Wall Street Megabanks: It Got the Answers Dead Wrong
- With Trump and Melania’s Crypto Coins Likely to Raise Legal Challenges, Why Didn’t Trump Fire the SEC’s Inspector General in His Purge of IGs?
- Fossil Fuel Industry Could End Up Paying Tens of Billions for LA Wildfires and Deceiving the Public on Climate Change for Decades
- It’s Being Called the Biggest Grift by a President in U.S. History: Trump and First Lady Launch their Own Crypto Coins
- Trump Plans to Install a Fracking CEO to Head the Energy Department and Declare a National Emergency on Energy to Gain Vast Powers
- Fossil Fuel Money Played a Role in the Los Angeles Fires and the Push to Install Pete Hegseth as Secretary of Defense
- When It Comes to Wealth Retention in Retirement, Concrete May Be the New Gold
- Wall Street Watchdog Warns “Clock Is Ticking on a Coming Catastrophic Financial Crash”
- Wall Street Is Sending the Same Message to Americans on Fossil Fuel Financing that It Sent on Cigarettes: Drop Dead
- In a Six-Week Span, this Dark Pool with a Curious Past Traded 3.7 Billion Shares
- Wall Street’s Lobby Firm Hired Eugene Scalia of Gibson Dunn to Sue the Fed for Jamie Dimon
- Postmaster General Louis DeJoy Made $561,051 in Compensation in 2024, as Mail Costs Spiked and Delivery Deteriorated
- Fed Chair Jay Powell Sends a Bold Message to Trump and Tanks the Dow by 1123 Points
- The Head of Fixed Income at T. Rowe Price Makes the Scary Case for the 10-Year Treasury to Spike to 6 Percent
- $663 Billion in Cash Assets Have Gone Poof at the Largest U.S. Banks
- Donald Trump to Ring Bell at New York Stock Exchange Today as Hit List Posters Appear in Manhattan Targeting Wall Street CEOs
- Trump Has a Slush Fund to Prop Up the Dollar – Will He Use It to Prop Up Bitcoin Instead?
- A CEO Assassination; a Billionaire Heiress/NYPD Commissioner; a Secret Wall Street Spy Center – Here’s How They’re Connected
- Despite More than 1600 Tech Scientists Signing a Letter Calling Crypto a Sham, Trump Names a Crypto Cheerleader for SEC Chair
- The Fed Rings a Warning Bell: Hedge Funds and Life Insurers Are Reporting Historic Leverage
- Trump’s Nominee for FBI Director, Kash Patel, Has Businesses Financially Intertwined with Trump
- Donald Trump Is at Risk of Getting Named in a Fossil Fuels Conspiracy Lawsuit
- Trump Is Having Difficulty Getting a Lawyer to Accept the Nomination for SEC Chair: Here’s Why
Search Results for: Federal Reserve
Some Senate Democrats Move to the Dark Side for Jamie Dimon & Company’s Front Group

By Pam Martens and Russ Martens: December 15, 2023 ~ A Wall Street cartel of lobbying groups has launched their fiercest anti-regulation battle with Congress since it was in the midst of writing the Dodd-Frank financial reform legislation of 2010. That legislation hoped to address the worst Wall Street abuses and corruption that brought on the crash of 2008 – the most devastating financial meltdown since 1929 and the Great Depression. (See our report: Meet the Banking Cartel that Is Planting the Seeds for the Next Banking Panic and Bailout.) One tentacle of the cartel is the Financial Services Forum, whose total membership consists of the CEOs of the eight Wall Street mega banks: Jamie Dimon of JPMorgan Chase; Brian Moynihan of Bank of America; Charles Scharf of Wells Fargo; Jane Fraser of Citigroup; David Solomon, Goldman Sachs; James Gorman, Morgan Stanley; Robin Vince, Bank of New York Mellon; and Ronald … Continue reading
The New York Fed Has Extended Its Half Trillion Dollar Bailout Facility to a Sprawling Japanese Bank You’ve Never Heard Of

By Pam Martens and Russ Martens: December 14, 2023 ~ Quietly, on December 1, the New York Fed published the following statement on its website: “The Norinchukin Bank, New York Branch, has been added to the list of Standing Repo Facility Counterparties, effective December 1, 2023.” The Standing Repo Facility (SRF) is a permanent $500 billion bailout facility created by the Federal Reserve and operated by the New York Fed – the private regional Fed bank where multi-trillion dollar Wall Street bank bailouts have become a regular feature of its operations. Without any action from the U.S. legislative branch (otherwise known as Congress), the Fed has unilaterally decided to become lender of last resort to Wall Street trading houses (whom the Fed prefers to call its “primary dealers”) and deposit-taking banks, including the uninsured New York branches of foreign banks like Norinchukin Bank. If you have never heard of Norinchukin Bank, … Continue reading
If Wall Street’s Mega Banks Are Safe and Sound as the Fed Says, Why Do They Need a Half Trillion Dollar Bailout Facility at the New York Fed?

By Pam Martens and Russ Martens: December 12, 2023 ~ There is a battle raging between the Wall Street mega banks and their federal banking regulators. The regulators want the mega banks to hold more capital against their high risk trading positions to prevent a replay of the bailouts in 2008 and repo bailouts in the fall of 2019. The mega banks have launched a deceptive ad campaign and public relations battle to thwart that from happening. The federal regulators’ efforts to raise capital are being undermined by Fed Chairman Jay Powell’s perpetual testimony to Congress that the U.S. banking system is safe and sound and adequately capitalized. Thus far, no member of Congress has thought to question Fed Chair Powell during public hearings as to why the Fed needs a new permanent bailout facility of $500 billion, on top of its century-old Discount Window, if the banking system is adequately … Continue reading
Eight Wall Street Mega Banks Have Teamed Up to Run Television Ads in a Bogus Scare Campaign

By Pam Martens and Russ Martens: December 11, 2023 ~ During the Sunday, December 10 news program on CNN, “State of the Union with Jake Tapper and Dana Bash,” a deceptive, scare-mongering TV commercial popped up, warning that federal banking regulators’ proposed plan to require the mega banks on Wall Street to hold more capital against their riskiest trading activities “will increase the cost of mortgages and car payments” and “hurt small businesses, making it harder for them to access credit, meet payroll and run their operations.” The ad featured images of a farmer on his tractor, an auto mechanic, a worried small business owner, and other emotion-packed images. Wall Street On Parade has been warning our readers for weeks about this deceptive campaign by the Wall Street mega banks, so we jumped to our feet to get closer to the TV screen and read the fine print to see who … Continue reading
The U.S. Treasury’s Financial Crisis Warning Bell Didn’t Ring Before the Repo Crisis of 2019 or This Year’s Bank Runs

By Pam Martens and Russ Martens: November 30, 2023 ~ The Office of Financial Research (OFR) is a unit of the U.S. Treasury Department. OFR was created as part of the Dodd-Frank financial reform legislation of 2010 to keep the Financial Stability Oversight Council (F-SOC) informed about emerging threats that have the potential to spread contagion throughout the U.S. financial system — as occurred in 2008 in the worst financial crash since the Great Depression. Janet Yellen, the U.S. Treasury Secretary, chairs F-SOC. Its members include the heads of every federal banking and Wall Street regulator, who meet regularly to assess any threats on the horizon that could lead to financial instability in the U.S. One of the data charts that OFR makes available both to F-SOC and the public to assess accelerating financial problems is its Financial Stress Index. OFR describes that index as follows: “The OFR Financial Stress Index … Continue reading
The Apple Credit Card from Goldman Sachs Has Been a Co-Branding Nightmare; Now Apple Wants a Divorce

By Pam Martens and Russ Martens: November 29, 2023 ~ The employee at Apple who was put in charge of conducting due diligence on aligning the Apple credit card brand with Goldman Sachs, needs to be immediately demoted to sorting envelopes in the mail room. It has been a match made in hell, generating headlines in the business press over the billions of dollars Goldman Sachs has lost attempting to ramp up a credit card division from scratch while spawning federal investigations into Goldman’s less than timely handling of credit card customer complaints about fraudulent charges, billing errors, refunds, etc. After hundreds of those complaints piled up at the Consumer Financial Protection Bureau (CFPB), the Bureau opened a federal investigation. (The CFPB is the federal agency created to hear directly from defrauded consumers following the 2008 Wall Street-generated financial crisis). In the most recent quarterly report filed by Goldman with the … Continue reading
Fed Data on Cash Assets at the Biggest Banks Depicts an Out-of-Control Fed and Banking System

By Pam Martens and Russ Martens: November 28, 2023 ~ FRED is a giant online database at the St. Louis Fed that allows anyone to graph the financial and economic data stored in its repositories. We use the data regularly to bring our readers a crystal-clear snapshot of the increasingly dangerous underpinnings of the U.S. financial system. Let’s start with the first chart above. This chart depicts the cash assets held by the 25 largest U.S. commercial banks. The Fed defines the term “cash assets” as “vault cash, cash items in process of collection, balances due from depository institutions, and balances due from Federal Reserve Banks.” Notice that from April 1, 1985 to just before the financial crash of 2008, cash levels at the biggest banks were as steady as a soft breeze on a spring day. But from that point on through today, there have been freakish spikes and plunges … Continue reading
Watchdog to Fed: JPMorgan Is Controlling Fossil Fuels Empire, Which Just Spilled a Million Gallons of Oil in Gulf of Mexico

By Pam Martens and Russ Martens: November 27, 2023 ~ The formidable Washington watchdog, Public Citizen, has trained its sights on JPMorgan Chase, Jamie Dimon’s house of serial frauds and felony counts that is allowed to also operate as the largest federally-insured bank in the United States. Public Citizen’s pursuit of JPMorgan Chase began in 2019 when its Energy Program Director, Tyson Slocum, began investigating a hodge podge of private equity shell companies using the name Infrastructure Investments Fund (IIF). At the time, IIF was in the process of buying El Paso Electric and Public Citizen smelled something rotten and started digging. Public Citizen concluded that JPMorgan Chase was controlling IIF. Public Citizen then filed a series of complaints in the matter with the Federal Energy Regulatory Commission (FERC). FERC is not a federal agency that JPMorgan Chase should be riling up again. In 2013, FERC fined the bank $410 million … Continue reading
Six Big Banks Forced to Declare $9.3 Billion in Additional FDIC Expenses; Another Reason Their Talons Are Out for FDIC Chair Gruenberg

By Pam Martens and Russ Martens: November 22, 2023 ~ The biggest banks in the U.S. that have been serially bailed out by the Federal Reserve since they blew up the financial system in 2008, are ripping mad at the Chairman of the Federal Deposit Insurance Corporation (FDIC), Martin Gruenberg. In addition to the FDIC and other federal banking regulators’ proposed rule to increase capital requirements on the largest banks, the FDIC just issued a final rule on November 16 that will force six banks to report an FDIC special assessment expense totaling more than $9.3 billion in the final quarter of this year. (See chart above.) Jamie Dimon, Chairman and CEO of JPMorgan Chase, is hair-on-fire mad because his bank is getting hit with the whopping figure of approximately $3 billion according to the firm’s most recent quarterly filing (10-Q) with the SEC. The most recent 10-Q filings with the … Continue reading
The Deposit Insurance Fund Has a Balance of $117 Billion to Protect Deposits at 4,622 Banks. But One of Those Banks Has $1.4 Trillion in Uninsured Deposits

By Pam Martens and Russ Martens: November 14, 2023 ~ Today, the U.S. Senate Banking Committee will call federal banking regulators before it to testify at a hearing at 10 a.m. The underlying theme will be why these regulators were caught napping when the second, third, and fourth largest bank failures in U.S. history occurred in a span of seven weeks this past Spring and hear about the new plans of action to restore confidence in the U.S. banking system. One of the regulators testifying will be the soft-spoken Martin Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC), the federal agency that insures the deposits at federally-insured U.S. banks up to $250,000 per depositor, per bank, as long as the branch is located on U.S. soil. (Deposits at foreign branches of U.S. banks are not insured by the FDIC.) In his written remarks for today’s hearing (which were released early), … Continue reading