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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
Cleta Mitchell: Why the IRS Has Cause To Probe Her Clients
By Pam Martens: June 13, 2013 Cleta Mitchell is one of the attorneys suing the IRS on behalf of tax-exempt “conservative” groups – the word “conservative” having become a euphemism for corporate money masquerading as free speech. Her baggage is endemic to the real problem. The billionaire Koch brothers, majority owners of the big oil, chemicals and paper company, Koch Industries, fund the “conservative” tax- exempt group, Americans for Prosperity, which then morphs into an octopus of other “conservative” tax-exempt groups. The Cato Institute, a so-called conservative tax-exempt organization spewing out public policy research with a pro big business agenda, was secretly owned by Charles Koch for 35 years and by David Koch for 20 years, along with a few other men. The secret of billionaires owning a conservative tax-exempt organization, subsidized by you and me, while it pushes a corporate agenda, became public in the spring of last year. … Continue reading
Jay Sekulow: The Man Pumping the IRS Scandal on Network TV Sits At the Center of a Web of Nonprofits That Have Paid Him, His Family and Related Businesses $40 Million Since 1998
By Pam Martens: May 28, 2013 Jay Sekulow will never be accused of a lack of audacity. The man who has orchestrated and pumped the “scandal” that the IRS was unfairly targeting nonprofits tied to the Tea Party, is the same man who filed 27 applications with the IRS in recent years seeking tax-exempt status for Tea Party and related groups. He’s also the man who together with family and business interests have reaped at least $40 million since 1998 from a tangled web of IRS approved nonprofits with eye-popping conflicts of interest. In the early days of the IRS controversy, Jay Sekulow was a major source of information for network news. On May 13, he framed the controversy for CBS News and the PBS Newshour. Two days later he appeared on GBTV with Glenn Beck, framing the current IRS matter as “worse” than in the days of Nixon. He also appeared on the … Continue reading
IRS Sleuths Were on the Right Track: Big Tobacco Created Tea Party in 1994
By Pam Martens: May 22, 2013 On February 25, 2013, James Hepburn, writing at Daily Kos, made the emphatic assertion in a headline that “Big Tobacco Had Nothing to Do With Tea Party Formation.” That is likely to be the one headline that will haunt Mr. Hepburn to his grave. I decided to follow in the treacherous footsteps of the IRS and engaged in that unforgiveable sin: I targeted the “tea party” as a key word search at the legacy tobacco document archive. Resting quietly in the archive is full blown proof that Big Tobacco directly created multiple Tea Parties in 1994 as push back against a planned increase in the Federal Excise Tax (FET) on cigarettes. In fact, Big Tobacco not only created the Tea Party, it has promoted it over decades, pumped millions into marketing it, and pulled it out of its magic hat every time it needed … Continue reading
The Criminal Case Against the Tea Party Cabal and Why the Justice Department Won’t Pursue It
By Pam Martens: May 20, 2013 The Justice Department is investigating the investigators of the Tea Party at the IRS while leaving a 29-year criminal conspiracy against the American people by the Tea Party cabal untouched. That’s not surprising, given that the U.S. Attorney General, Eric Holder, and the former head of his criminal division, Lanny Breuer, came from the law firm Covington and Burling which played a seminal role in the conspiracy. On February 8 of this year, the peer-reviewed health professionals’ journal, Tobacco Control, published an exhaustive study of the roots of the Tea Party dating back to the 1980s. Researched and written by Amanda Fallin, Rachel Grana and Stanton A. Glantz, the study was funded by the National Institute of Health (NIH) and titled ‘To Quarterback Behind the Scenes, Third Party Efforts’: The Tobacco Industry and the Tea Party. The authors explain how Citizens for a Sound … Continue reading
Today’s IRS Scandal Dates Back to 1959
By Pam Martens: May 17, 2013 To rational folks, the real scandal at the IRS is that corporate front groups – who want to bust unions, pollute the water and air with impunity, and kill Social Security in order to eliminate the corporate match of the Social Security tax – are allowed to register with the IRS as social welfare organizations, receive tax-exempt status, and then funnel tens of millions of dollars into political attack ads in order to elect candidates sympathetic to their corporate deregulatory agenda. These so-called social welfare organizations are allowed to do all this while drawing a black curtain around the names of their corporate donors. On April 9, 2013, the watchdog group Citizens for Responsibility and Ethics in Washington (CREW) filed a petition with the IRS that mapped out the real scandal taking place at the IRS – the scandal that right wing media don’t … Continue reading
It’s High Time the IRS Investigates the Funding of the Tea Party
By Pam Martens: May 14, 2013 For years now, journalists have been doing the heavy lifting in investigations of Charles and David Koch using their billionaire status to fund faux grassroots groups to push their far right agenda on the country — an agenda that effectively boils down to deregulation of corporations to the detriment of the working class, the environment and wealth equality in America. It’s about time the IRS investigated. According to the 2013 Forbes List, Charles and David Koch are each worth $34 billion. Their wealth derives from Koch Industries, a private global conglomerate with a presence in over 60 countries. The company’s business interests include oil, refining, pipelines, paper products, chemicals, fertilizer and trading. Because the company is not publicly traded, despite the Koch brothers’ stated devotion to free markets, we have no idea what goes on in the sprawling Koch enterprises because they are not … Continue reading
Officials Warn New Yorkers: Stay Inside
By Pam Martens: October 30, 2012 At 6 a.m., New York Governor Andrew Cuomo reported that there are 1,943,572 New Yorkers without power. Con Ed is reporting that power is out in lower Manhattan below 39th Street with an estimated 250,000 people in Manhattan without power. The MTA is reporting massive flooding in New York City subways and tunnels. New York City is urging all residents to remain indoors, avoid use of elevators and stay away from windows as a precaution against flying debris. The following updates have been posted by New York City: Alternate Side Parking regulations (street cleaning) will be suspended citywide on Tuesday, 10/30. Payment at parking meters is also suspended throughout the city on Tuesday, 10/30. The MTA has shut down all subway, bus, and commuter railroad service and likely will remain closed throughout Tuesday. The Staten Island Ferry service is suspended until further notice. East River … Continue reading
The Incestuous World of Pro-Romney Super PACs and the Candidate’s Campaign
By Pam Martens: October 18, 2012 The landmark 2010 Citizens United decision at the U.S. Supreme Court, effectively ending democracy as we know it, made it legal for advocacy groups to accept unlimited funds from secret donors while openly campaigning for a candidate. Super PACs can now also accept unlimited sums from a single donor and spend every dime on attack ads against an opponent, providing they keep their activities separate from the candidate’s campaign. What has evolved from the Citizens United decision is an incestuous world where campaign rules matter little to the masters of the universe. The pro-Romney super Pac, Restore Our Future, has raked in $96,667,002 in this campaign cycle according to a recent filing at the Federal Election Commission. Almost half of that has sluiced out the back door to the ad buying firm of Mentzer Media. Mentzer Media is the firm that placed over $18 million in ads attacking … Continue reading
Nine Essential Questions for the Presidential Debates
By Pam Martens: October 16, 2012 (1) Mr. President, both Ron Ruskind and Sheila Bair have written books that suggest that your Treasury Secretary, Tim Geithner, is a tool of Wall Street and, specifically, Citigroup. Mr. Suskind indicated that you had instructed Mr. Geithner to unwind Citigroup and he ignored your order. Will you tell Americans once and for all if that is true, and if it is, why the President of the United States would tolerate insubordination from his Treasury Secretary. (2) Governor Romney, you and your running mate, Paul Ryan, believe we have too much government: too many governmental controls in business, too many government entitlement programs. But when it comes to women’s bodies and abortion, you advocate letting the government control. Can you explain the seeming dichotomy of your logic and, also, why it would be humane to bring unwanted children into a country where one in every five … Continue reading
High Tech Stalking and the Presidential Election
By Pam Martens: October 15, 2012 A little over a month ago, I went to the web site of the Koch Industries roster of their version of “facts,” and stumbled upon, completely by accident, the billionaire brothers’ wholesale attack on Robert Greenwald, the filmmaker who released the documentary Koch Brothers Exposed earlier this year. For the balance of the day, wherever I went on the internet, various versions of Koch ads popped up, berating Greenwald and his film. I felt like I was being stalked. According to a techie friend, I had picked up a cookie at the Koch Industries web site and it was using that cookie to follow me around and attempt to brainwash me against Robert Greenwald and his film. I had to erase all my cookies to stop this stalking. If you think this is over-the-top creepy, you obviously have not yet read the article in the New … Continue reading