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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: rap sheet
Wall Street Megabanks’ Multi-Billion Dollar Blunders Suggest Money Controls as Good as George Bailey’s Uncle Billy

By Pam Martens and Russ Martens: July 29, 2022 ~ What do you get when you mix federally-insured banks with Wall Street trading casinos? You get the potential for catastrophic risks for the U.S. taxpayer and astronomical riches for the CEOs of the banks and the hedge fund titans they serve. Why is this Faustian bargain tolerated by Washington lawmakers – especially after the greatest financial collapse since the Great Depression in 2008? Because the Wall Street fat cats throw a lot of money into the political campaigns of members of Congress, ensuring that no matter how many times these Frankenbanks make outrageous blunders involving billions of dollars, Congress will conduct a superficial investigation and move on. Below we examine outrageous money blunders by Barclays, Citigroup, JPMorgan Chase and Morgan Stanley – all of which have the earmarks of the brand of money incompetence as George Bailey’s Uncle Billy in Frank … Continue reading
Federal Data Show JPMorgan Chase Is, By Far, the Riskiest Bank in the U.S.

By Pam Martens and Russ Martens: July 26, 2022 ~ The long-tenured Chairman and CEO of JPMorgan Chase, Jamie Dimon, likes to use the phrase “fortress balance sheet,” when talking about his bank to Congress or shareholders. But the data stored at its federal regulators show that the bank is, by far, the most systemically dangerous bank in the United States. And, despite its high risk profile, neither Congress nor federal regulators have restricted its growth. Its assets have soared by 65 percent since the end of 2016 and stood at $3.95 trillion as of March 31, making it the largest bank in the United States. Making this situation even more dangerous, the bank has admitted to five criminal felony counts over the past eight years and a multitude of civil crimes and multi-billion dollar fines — all during the tenure of Dimon. Neither Congress nor federal regulators nor the Justice Department … Continue reading
Is the Crypto Threat to U.S. Financial Stability $889 Billion or $10 Trillion?

By Pam Martens and Russ Martens: June 23, 2022 ~ Yesterday, Benzinga reported on a curious statement made by Fed Chair Jerome Powell during his appearance before the Senate Banking Committee on Wednesday. Powell was asked by Senator Kyrsten Sinema (D-AZ) if the Fed had been tracking the events in the crypto markets in the past several weeks. Powell responded that the Fed was watching those events “very carefully” but the Fed “did not see significant macro-economic implications.” The article goes on to lend credence to this observation from the Fed by noting the following: “It is important to note the entire cryptocurrency market cap is $889.25 billion versus the American GDP, which is $25.34 trillion, and an equities market that controls more than $49 trillion.” Before we drill down into the weeds of that crypto market cap figure, it’s important to note that former Fed Chair Alan Greenspan told Congress that he saw no major … Continue reading
Stable Coin and Cryptocurrency Investors Are Not the Only Ones in Tears: Ten Crypto Mining Stocks Have Fallen by 50 to 80 Percent Year-to-Date

By Pam Martens and Russ Martens: May 26, 2022 ~ In October 2008 a group or individual using the name Satoshi Nakamoto released a paper outlining a new system for digital cash called Bitcoin. To this day, no one knows who Satoshi Nakomoto really is. For all we know, he/it/they could have been a strawman for the fossil fuels industry. Why do we say that? Because the major beneficiary of crypto has been the fossil fuel industry which has seen a growing demand for its dirty energy from crypto mining companies while the big losers have been the environment, local communities and average citizens around the world hoping to breathe clean air and save the planet for their children and grandchildren. Consider what Senator Elizabeth Warren had to say about crypto at a Senate hearing in June of last year: “Cryptocurrencies have turned out to be a fourth-rate alternative to real … Continue reading
New York Fed Stuns with New Report: At Year End Its Trading Desk Owned 38 Percent of All 10-30 Year U.S. Treasuries

By Pam Martens and Russ Martens: May 26, 2022 ~ On Tuesday, the New York Fed’s trading desk released its annual report showing what it was up to in 2021. The New York Fed is the only one of the Federal Reserve’s 12 regional Fed banks to have a trading desk operation with speed dials to Wall Street’s trading houses, so we’re always interested in reading the “official” version of what’s been happening there. The report is a deeply sanitized version of the facts on the ground. (For example, there is nothing in the report to indicate that the New York Fed has established a second trading floor near the futures exchange in Chicago.) However, there is one paragraph in the newly-released report that took our breath away. It reveals that the New York Fed’s trading operation (officially called the System Open Market Account or SOMA) currently owns 38 percent of … Continue reading
Senator Elizabeth Warren Lauds the New York Stock Exchange for Investor Protections. It’s Currently Trading Multiple Alleged Frauds.

By Pam Martens and Russ Martens: May 20, 2022 ~ Yesterday the Senate Banking Committee held a hearing to consider President Biden’s nominations for two Commissioners at the Securities and Exchange Commission (Jaime E. Lizárraga and Mark Toshiro Uyeda) as well as Michael Barr to be Vice Chairman for Supervision at the Federal Reserve Board of Governors. (For the skinny on Barr’s fitness to supervise megabanks on Wall Street, see our hold-your-nose report here and David Dayen’s eyepopping report here.) During the hearing, Senator Elizabeth Warren noted the vast amounts of money that investors have lost in crypto coins and cryptocurrency and then moved on to compare the lack of protections that investors have in crypto versus the protections afforded in the stock market. Warren asked Barr the following: Warren: “If I bought a company’s stock, even the most hyped-up, junkiest one listed on the New York Stock Exchange, could I … Continue reading
Jerome Powell’s Fed in Two Frightening Charts

By Pam Martens and Russ Martens: May 18, 2022 ~ The March 15-16 minutes of the Federal Open Market Committee (FOMC) of the Federal Reserve show that there was agreement, given “elevated inflation and tight labor market conditions,” that the Fed needed to take decisive action to shrink its balance sheet, with FOMC participants reaffirming “that the Federal Reserve’s securities holdings should be reduced over time in a predictable manner primarily by adjusting the amounts reinvested of principal payments….” But Jerome Powell’s Fed did not actually announce a specific plan to shrink its balance sheet until May 4 and stated at that time that the plan would not go into effect until June 1 – almost three months after the FOMC indicated that the Fed should take decisive action. As a result of this stalling, the Fed’s balance sheet has remained at the $9 trillion level since its March 15-16 FOMC … Continue reading
Crypto’s Crash: 100-to-1 Leverage Goes Poof!

By Pam Martens and Russ Martens: May 16, 2022 ~ Crypto was in full-blown crash mode last week, wiping out more than $300 billion in market value. TerraUSD, a so-called stablecoin that is supposed to trade at a “stable” $1 value, crashed to a few cents on the dollar. Its sister cryptocurrency, Luna, likewise imploded. Then there was Bitcoin, which Warren Buffett has called “rat poison squared.” Bitcoin plunged further last week and is now down more than 30 percent year-to-date. So much for the hype that it would be an inflation hedge like gold. Coinbase, the big crypto exchange, knocked more wind out of the sails of the crypto market on Tuesday of last week when it filed its 10-Q (quarterly report) with the Securities and Exchange Commission and essentially said it had no idea what might happen to $256 billion it held for customers. The filing illuminated its shareholders … Continue reading
What You Can Expect to Hear at the Fed’s Press Conference Today

By Pam Martens and Russ Martens: May 4, 2022 ~ The Federal Open Market Committee (FOMC) will release its decision on hiking the Fed’s benchmark interest rate at 2:00 p.m. ET today, along with its plans for shrinking the Fed’s $9 trillion balance sheet. The announcement will be followed with Fed Chair Pro Tempore Jerome Powell holding a press conference at 2:30 p.m. ET. (Powell still awaits full Senate confirmation for a second term as Fed Chair, thus the designation “Pro Tempore.” Wall Street is expecting a 50-basis point rate hike (half of one percent), which would put the Fed Funds rate in a range of 0.75 to 1 percent. Wall Street does not like large interest rate increases from the Fed because five of the megabanks are sitting with a $200 trillion albatross of derivatives around their neck with questionable counterparties on the other side of a lot of those … Continue reading
Citigroup’s Role in “Flash Crash” in Europe Yesterday Is Reminiscent of Its “Dr. Evil” Trade in 2004

By Pam Martens and Russ Martens: May 3, 2022 ~ Yesterday the international newswire, Reuters, broke the story that the U.S. megabank, Citigroup, was responsible for a flash crash that plunged Sweden’s benchmark index, the OMX, by 8 percent at its low. The index later recovered to close with a loss of just under 2 percent. The plunge caused a rapid ripple effect that briefly spread to other European stock markets. Trading volume in Europe was lower than normal yesterday because the London Stock Exchange was closed for a banking holiday. (As detailed below, Citigroup previously exploited a low volume day in August 2004 in the European bond market.) Citigroup has confirmed its role in yesterday’s flash crash, releasing the following statement on Monday: “This morning one of our traders made an error when inputting a transaction. Within minutes, we identified the error and corrected it.” El Pais, a leading newspaper … Continue reading