-
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
Fed’s Stress Test: Should JPMorgan Chase Have Gotten a Second Chance?
![Jamie Dimon, Chairman and CEO, JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/03/Jamie-Dimon-150x150.jpg)
By Pam Martens and Russ Martens: June 28, 2019 ~ How many second chances should a criminal recidivist get? JPMorgan Chase has logged in guilty pleas to three criminal felony counts in the past five years; it has a criminally-charged precious metals trader singing to the Feds currently as JPMorgan admits in regulatory filings that it’s under a new criminal investigation in that matter; the bank has paid $36 billion in fines for wrongdoing since the financial crash, including $1 billion for trading exotic derivatives in London with bank depositors’ money and losing at least $6.2 billion of those depositor funds (the London Whale scandal). And in just the past year it has proven that it’s “game on” for more regulatory fines and illicit profits. (See Could JPMorgan Chase Be Hit with a Fourth Felony Count for Rigging Precious Metals Markets?) Despite all of this, yesterday the Federal Reserve announced … Continue reading
OCC Report: JPMorgan Chase and Citibank Control 76 Percent of all Precious Metals Contracts at 5,362 Federally-Insured Banks
![Wall Street Bank Logos](https://wallstreetonparade.com/wp-content/uploads/2019/02/bank-logos-150-pix-150x97.jpg)
By Pam Martens and Russ Martens: June 24, 2019 ~ As of March 31 of this year, there were 5,362 Federally-insured commercial banks and savings associations in the United States. Just two of these banks, JPMorgan Chase NA and Citibank NA control 75.7 percent of all precious metals derivatives contracts held by all of the 5,362 Federally-insured banks and savings associations. This finding comes from a report released last week by the regulator of national banks, the Office of the Comptroller of the Currency (OCC). (See Table 9 in the Appendix of the OCC report.) Commercial banks are supposed to be making safe and sound business loans to keep the U.S. economy humming, creating good-paying jobs and making America competitive around the world. But according to the latest OCC report, of the $38.57 billion held in precious metals derivative contracts by all Federally-insured banks and savings associations in the U.S., … Continue reading
Could JPMorgan Chase Be Hit with a Fourth Felony Count for Rigging Precious Metals Markets?
![](https://wallstreetonparade.com/wp-content/uploads/2013/08/Jamie-Dimon-120-pixels.jpg)
By Pam Martens and Russ Martens: June 11, 2019 ~ On September 25, 2013, after spending five years and 7,000 hours using taxpayers’ money investigating the potential rigging of the silver market, the Commodity Futures Trading Commission (CFTC) concluded that “there is not a viable basis to bring an enforcement action with respect to any firm or its employees related to our investigation of silver markets.” The investigation was provoked by multiple complaints asserting the market was rigged. The CFTC is a Federal regulator that oversees the U.S. commodities markets. The U.S. Department of Justice (DOJ) is also a Federal agency and the only one that can bring a criminal case against firms and individuals who commit conspiracy and fraud in commodity and securities markets. (The Securities and Exchange Commission can bring only civil, not criminal, cases.) On October 9 of last year, the DOJ used its criminal powers and … Continue reading
The Fed’s Glue-Sniffing Announcement Yesterday Involving JPMorgan Chase
![Jamie Dimon, Chairman and CEO, JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/03/Jamie-Dimon-150x150.jpg)
By Pam Martens and Russ Martens: June 7, 2019 ~ Federal Reserve inspectors appear to be on some kind of mind-altering drug or their superiors are simply taking their marching orders from Wall Street cronies in the Trump Administration. Yesterday the Fed released a terse 104-word statement indicating that the largest and serially charged bank in the U.S., JPMorgan Chase, had shown “evidence of substantial improvements” in its “risk-management program and internal audit functions” and the Fed was therefore removing the dog collar it had put on the bank in January 2013. (JPMorgan Chase had been required to provide written progress reports to the New York Fed in 2013 until further notice – which became six years.) The Fed’s actions in 2013 stemmed from JPMorgan Chase secretly gambling with depositors’ money in exotic derivatives in London and losing at least $6.2 billion of those funds. The incident became infamously known … Continue reading
How Bad Are Things on Wall Street? JPMorgan and Goldman Sachs Offer No Minimum Accounts
![Piggy Bank Thumbnail](https://wallstreetonparade.com/wp-content/uploads/2018/06/Piggy-Bank-Thumbnail-150x114.jpg)
By Pam Martens and Russ Martens: May 21, 2019 ~ After chasing the super rich for a century, JPMorgan and Goldman Sachs are now offering no minimum accounts. As we will explain shortly, their motives may not be all that altruistic. In March of 2016, the Wall Street Journal’s Emily Glazer reported that clients of JPMorgan Chase’s Private Bank “will be required to have at least $10 million in investible assets, twice the current minimum of $5 million.” What smells like real money to Goldman Sachs has also been eight-figures and higher. In 2013, the New York Times reported that Goldman had a $10 million minimum to manage private wealth and was booting out its own employees’ accounts if they were less than $1 million. High net worth individuals are what each of the mega Wall Street banks look for since the more money the bank invests, the more fees it generates … Continue reading
As Regulators Squirm in their Seats at Hearing, JPMorgan and Citigroup Get Slapped with More Rigging Charges by EU
![Congresswoman Maxine Waters](https://wallstreetonparade.com/wp-content/uploads/2019/05/Congresswoman-Maxine-Waters-150x150.jpg)
By Pam Martens and Russ Martens: May 17, 2019 ~ At a House Financial Services Committee hearing yesterday, Republicans attempted to marshal arguments for why U.S. banks needed more relief from regulatory oversight. Those arguments weren’t helped by the news of the day. As the hearing got underway, headlines were being promulgated around the globe that JPMorgan Chase, Citigroup and three foreign banks had been fined $1.2 billion by the European Commission for rigging foreign exchange markets. The U.S. Department of Justice leveled criminal felony charges on the same two U.S. banks in 2015 for rigging the same market. Both banks admitted to the charges at that time. A decade after the greatest financial crash in the United States since the Great Depression; after the Dodd-Frank financial reform legislation has failed miserably in stopping the ongoing crime spree by Wall Street’s largest banks; and as radical right-wing members of Congress … Continue reading
JPMorgan Chase Owns $2.2 Trillion in Stock Derivatives; Two-Thirds the Total for All Banks
![](https://wallstreetonparade.com/wp-content/uploads/2013/08/Jamie-Dimon-120-pixels.jpg)
By Pam Martens and Russ Martens: May 15, 2019 ~ According to the Office of the Comptroller of the Currency (OCC), the regulator of national banks, as of December 31, 2018 JPMorgan Chase Bank NA (the Federally-insured bank backstopped by U.S. taxpayers) held $2,212,311,000,000 ($2.2 trillion) in equity derivatives. Equity is another name for stock. The OCC also reported that all commercial banks in the U.S. held a total of $3.374 trillion in equity derivatives at the end of last year, meaning that for some very strange reason, JPMorgan Chase holds a 65.5 percent market share of bank trading in this derivatives market. Those trillion dollar figures are notional amounts, meaning the face value. The OCC defines “notional” like this: “The notional amount of a derivative contract is a reference amount that determines contractual payments, but it is generally not an amount at risk. The credit risk in a derivative … Continue reading
Bloomberg News Bashes Wells Fargo While Canonizing JPMorgan Chase’s CEO Jamie Dimon, Despite 3 Felony Counts at His Bank
![](https://wallstreetonparade.com/wp-content/uploads/2019/04/Jamie-Dimon-Cover-Story-at-Bloomberg-Markets-ii-150x150.jpg)
By Pam Martens and Russ Martens: April 3, 2019 ~ Since March 9 of last year, Bloomberg News has published over 80 negative articles on the mega bank Wells Fargo. Some of the more recent headlines are: 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’. Judging by the reporting, one would think that Wells Fargo is either the most dangerous U.S. mega bank or the most criminal. But according to Federal regulators, that distinction goes to JPMorgan Chase. But oddly enough, Jamie Dimon, the Chairman and CEO of JPMorgan Chase, has been canonized by Bloomberg News for years, effectively endorsing him as the all-wise and customer-focused oracle of Wall Street. Wells Fargo has not been charged with a criminal felony count. Jamie Dimon, on the other hand, has … Continue reading
Goldman Sachs’ Trading Bloodbath Looks to be Coming from JPMorgan and Citi
![](https://wallstreetonparade.com/wp-content/uploads/2018/08/wall-street-sign-thumbnail-150x149.jpg)
By Pam Martens and Russ Martens: March 20, 2019 ~ Last Thursday, Kevin Dugan at the New York Post reported that Goldman Sachs was laying off employees, “focusing on traders and salespeople in the equities and credit divisions, according to two people familiar with the layoffs.” Buried deep in the bowels of the Office of the Comptroller of the Currency (OCC), the federal regulator of national banks, is a report that helps to explain the trading pain being felt at Goldman Sachs. (See Editor’s Update below.) According to the OCC report for the third quarter of 2018, JPMorgan Chase Bank N.A. reported $2.7 billion in trading revenues from cash instruments and derivatives; Citibank N.A. reported $2 billion; Bank of America N.A reported $957 million while Goldman Sachs Bank USA reported a minuscule $266 million. Equally noteworthy, Goldman Sachs Bank USA was the only one of the four banks to report … Continue reading
JPMorgan Managing Director Dies Suddenly; Has Links to Other JPM Deaths
![](https://wallstreetonparade.com/wp-content/uploads/2019/03/Douglas-Arthur-Carucci-2-II-150x150.jpg)
By Pam Martens: March 18, 2019 ~ When you are the largest bank in the United States and you’ve been compared to the Gambino crime family in a book by two trial lawyers; when you’ve pleaded guilty to three criminal felony counts brought by the United States Justice Department in the past five years; when you’ve paid over $30 billion in fines over charges of crimes against the public and investors since 2008; and when you’ve had an unprecedented string of employees leaping to their death from buildings, dropping dead at home or on the street, and two alleged murder-suicides by employees — all in just the past five years – one might think that law enforcement might show some interest – especially since this employer – JPMorgan Chase – holds tens of billions of dollars of Bank-Owned Life Insurance (BOLI) on its workers. (This death benefit, by the way, … Continue reading