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Recent Posts
- 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”
- Gold Has Set Historic Highs this Year as the Federal Reserve Has Reported Historic Losses
- Stanford Finance Professor Anat Admati Is Making Jamie Dimon Very Nervous – Again Calling His Bank “Dangerous”
- Jamie Dimon Dumped $150 Million of His JPMorgan Stock in February; Now He Says His Regulators Want 25 Percent More Capital at his Bank
- The Black Swan Rears Its Head: The Fed Has Negative Capital Using GAAP Accounting
- New York Fed Will Not Confirm or Deny that 5-Count Felon JPMorgan Chase Is Custodian of $2.4 Trillion of Its Securities
- For the First Time in History, the Fed Is Reporting Billions in Losses Weekly; It’s Still Paying High Interest Income to the Mega Banks on Wall Street
- There’s a Revival of the Dotcom-esque Froth in Today’s Markets; Cathie Wood Is Standing in for Henry Blodget and Jack Grubman; Nasdaq Is Playing Nasdaq
- Study Finds Wall Street Mega Banks Have Overstated Income for Years on Commercial Real Estate Loans They Sell to Investors
- Jamie Dimon Huddles in Private with Biden Bigwigs as His Bank Faces More Crime Charges
- Report: Five Banks Have a Combined Half Trillion Dollars in Commercial Real Estate Loans; Number 1 is JPMorgan Chase
- Billionaire Larry Fink of BlackRock, Which Grabbed Fed Bailouts in 2020-2021, Lectures Struggling Seniors on Making More Sacrifices
- Almost 10,000 U.S. Banks Have Disappeared Since 1985, Leaving 4 Mega Banks Controlling 39 Percent of Bank Assets
- Wall Street’s Go-To Law Firm, Sullivan & Cromwell, Got in Bed with Crypto; Now Its Reputation Is Being Hammered
- More Failed Banks and Office Building Demolitions Likely Before Real Estate Problems End, Warn Two Federal Agencies
- During Spring Bank Panic of 2023, Liquidity Advances from FHLBs Topped Those of Q4 2008, when Wall Street Was in Collapse
- JPMorgan’s Federally-Insured Bank Is Fined $348 Million for Losing Track of “Billions” of Trades
- Hedge Fund Titan John Paulson Made $1 Billion in an Illegal Goldman Sachs Deal; Trump Is Now Floating Him for Treasury Secretary
- Wall Street Mega Banks Have Drawn a Law-Free Zone Around Themselves – The Media Is Complicit
- A Financial Writer at New York Times Admits He’s Been Misrepresenting Bank Capital for 14 Years
- FDIC Data Contradicts Fed Chair Powell: Shows Real Estate Problems Have Skyrocketed at Largest U.S. Banks, Not the Smaller Regionals
- Senator Elizabeth Warren Calls Fed Chair Powell “Weak-Kneed”; Says He Is “Driving Efforts Inside the Fed” to Gut Higher Capital Requirements
- Steve Mnuchin, Trump’s Treasury Secretary/Foreclosure Kingpin, Joins with Hedge Fund Guys to Grab a Teetering, Federally-Insured Bank for $2 a Share
- Wall Street Mega Banks Have Created a Circular Firing Squad with Credit Derivatives and Capital Relief Trades – with the Fed’s Blessing
- New York Community Bancorp Was JPMorgan’s Top Regional Bank Pick for 2024; It’s Lost 73 Percent Y-T-D and Had Its Deposit Rating Downgraded to Junk
- Watchdog, Better Markets, Investigates the Bank that Has Lost 65 Percent of Its Market Value in Two Months and Was Downgraded to Junk by Moody’s
- The Fed Pretends to Send a Warning to Wall Street’s Mega Banks on Derivatives and Counterparty Risk
- $87 Million Buys This for Jamie Dimon: David Boies Can’t Utter the Words “JPMorgan Chase” in a Jeffrey Epstein Sex Trafficking Case
- Jamie Dimon and Nine of His Top Executives at JPMorgan Chase Have Dumped Over $150 Million of their JPMorgan Stock in Last Two Months
- These Charts Reveal Why the Fed Is Frightened about Capital Levels at the Wall Street Mega Banks
- Wall Street Law Firm Sullivan & Cromwell Gets Sued Over Allegations It Aided and Abetted the FTX Crypto Fraud
- JPMorgan Says Its “Trading Venues” Are Under Investigation While It’s Still on Probation for Prior Trading Crimes
- Jamie Dimon Is Desperate to Pin the Jeffrey Epstein Scandal on Jes Staley; Bloomberg News Is Carrying His Water — Again
- Citigroup Is Having a Very Bad Week; Regulators Are Breathing Down Its Neck
- Five Wall Street Banks Hold $223 Trillion in Derivatives — 83 Percent of All Derivatives at 4,600 Banks
- Jamie Dimon’s Statement Last Month that Trump “Was Kind of Right About NATO,” Sounds Even More Unhinged Today
- S&P 500 Sets a Record on Wednesday as Banks Continue Tanking
- NYCB Downgraded to Junk; Shocking Charts for Citigroup, Barclays and Deutsche Bank
- Reporters Who Ask Tough Questions at Fed Press Conferences Have a Habit of Being Disappeared from the Room
- Jamie Dimon Has Spent $117 Billion Propping Up JPMorgan’s Share Price with Buybacks in 10 Years; He’s Counting on Trump’s MAGA Crowd to Rescue Him
- Bank Fraud Enters a New Era: Bank-to-Bank Wire Transfers Loot Customers
- Senator Sherrod Brown Takes on the Fed’s Support of Wealth Stripping the Middle Class
- JPMorgan Chase Has Used the Same Auditor for 58 Years, Despite Giant Frauds at the Bank in the Last Nine Years
- The Fed Has a Dirty Little Secret: It’s Been Allowing the Wall Street Mega Banks to Calculate their Own Capital Requirements
- The Battle Over Capital at the Mega Banks Must Expand to Breaking Them Up
- Robert Kaplan Was Heavily Trading on May 1, 2020; One Day After a Fed Blackout Period and the Same Day He Made a Shocking Prediction on TV
- Naming Names: Professor Exposes the Banking Cartel that Has Hijacked U.S. Democracy
- A Fed Whistleblower Reveals Efforts to Silence Him 30 Years Ago
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The Fed Responds to Report that Fed Chair Powell Traded During FOMC Blackout Periods
By Pam Martens and Russ Martens: February 11, 2022 ~ A Fed spokesperson has provided Wall Street On Parade with a detailed response to our article yesterday, which documented that trades were made in accounts in which Fed Chair Jerome Powell had a financial interest during a Federal Open Market Committee (FOMC) meeting in 2015 and another in 2019. Fed officials are clearly prohibited from trading before and during FOMC meetings because that is when they have insider, market-moving information. Below is the full statement from the Fed spokesperson. Following the statement, we will explain its many, serious flaws. “Chair Powell has not traded during FOMC blackout periods. The transactions that were reported occurred in family trusts over which he had no control. Chair Powell is not a trustee and did not direct or control the trades. He relinquished his previous role as a trustee in 2012 when he joined the … Continue reading
Fed’s Repo Loans to Wall Street Skyrocket by 230 Percent Week Over Week
By Pam Martens and Russ Martens: June 9, 2020 ~ The Federal Reserve is desperately hoping that the pandemic, the coast-to-coast protests and the military generals’ scathing rebuke of the President’s plan to “dominate” grannies and college kids with bayonets and Black Hawk helicopters in the streets would distract the public from its money-feeding tube to Wall Street. Unfortunately for the Fed, Americans can multitask. Between Monday and Friday of last week, the Fed made $304.20 billion in repo loans to Wall Street’s trading houses. That was 230 percent of what it made the week before and 700 percent of what it loaned the week before that. (See chart above.) This would suggest that the liquidity crisis is heating up and/or that it’s taking ever larger amounts to levitate the stock market as sellers come back in. The Fed has gone completely bonkers when it comes to its money spigot … Continue reading
Donald Trump Orders Up His Own Praetorian Guard, Including Black Hawk Helicopters and the 82nd Airborne with Bayonets
By Pam Martens and Russ Martens: June 3, 2020 ~ U.S. President Donald Trump, the leader of a country which heretofore viewed itself as a beacon of democracy to the rest of the world, is now using military helicopters, a designated commander in combat fatigues, and military police to protect himself from peaceful protesters outside the White House. Trump has bigger, and more dangerous plans. James LaPorta of the Associated Press reported yesterday that combat troops from the 82nd Airborne have been moved just outside of Washington D.C., are armed with bayonets, and may be called in by the President. The AP reported as follows: “On Tuesday, roughly 700 members of the Army’s 82nd Airborne Division had arrived at two military bases near Washington. Another 1,400 soldiers are ready to be mobilized within an hour, the two Pentagon officials said. The soldiers are armed and have riot gear as well … 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
After 16 Months, There Are Still No Arrests in the Fed’s Trading Scandal
By Pam Martens and Russ Martens: January 5, 2023 ~ This coming Saturday will mark the 16-month anniversary of former Wall Street Journal reporter Mike Derby setting off a media firestorm with his reporting that the then President of the Dallas Fed, Robert Kaplan, had “made multiple million-dollar-plus stock trades in 2020,” a year in which Kaplan was a voting member of the Fed’s Federal Open Market Committee (FOMC) with access to inside information. While the trading scandal spread to numerous other Fed officials, including Fed Chairman Jerome Powell, the case against Kaplan seemed like a prime candidate for a criminal investigation by the U.S. Department of Justice. Not only was Kaplan sitting on inside information gleaned from the Fed, but he was making market-moving statements himself on television. When Wall Street On Parade obtained Kaplan’s trading records from the Dallas Fed shortly after Derby’s article appeared, it became clear that the stock trading … Continue reading
Sam Bankman-Fried: The Rigged Wall Street System that “Valued” His Company at $32 Billion
By Pam Martens and Russ Martens: December 5, 2022 ~ If you have been following the Sam Bankman-Fried and FTX crypto exchange story since the company filed for bankruptcy on November 11, you have likely read the phrase “a valuation of $32 billion” dozens of times to describe the “valuation” of FTX as recently as February of this year. (We pulled up 47,600 results from a Google search.) But here’s the funny thing. No media outlet has bothered to explain how FTX came by that $32 billion valuation or precisely how Sam Bankman-Fried, the co-founder and CEO of FTX, became a billionaire overnight. FTX wasn’t publicly traded so its share price wasn’t determined by millions of investors buying and selling its stock on a public stock exchange five days a week. And here’s another funny thing: mainstream media reported in late September that FTX was looking to raise $1 billion more … Continue reading
FTX, Second Largest Crypto Exchange, Halts Withdrawals as Bankruptcy Nears and Justice Department Circles
By Pam Martens and Russ Martens: November 10, 2022 ~ FTX, the second largest crypto exchange, is teetering near bankruptcy this morning; has shuttered withdrawals of money and crypto by its customers; and is dealing with investigations by the Securities and Exchange Commission, the Commodity Futures Trading Commission and the U.S. Department of Justice. At least one of those investigations is focusing on the potential misuse of customer funds between FTX and Alameda Research, a trading firm created by FTX founder and CEO, Sam Bankman-Fried. The Wall Street Journal reports that FTX has a “shortfall of up to $8 billion.” A deal by the largest crypto exchange, Binance, to buy out FTX as it faltered, was scrapped yesterday after due diligence lawyers for Binance didn’t like what they saw. As recently as January, FTX had a valuation of $32 billion. Its sophisticated investors include Sequoia Capital, BlackRock, Tiger Global Management, SoftBank, … Continue reading
The Fed’s Trading Scandal Broadens into a Scandal with the Mega Banks It “Regulates”
By Pam Martens and Russ Martens: October 24, 2022 ~ Last Thursday, Jeanna Smialek, who reports on the Fed for the New York Times, broke the news that the President of the St. Louis Fed, James Bullard, gave a private, invitation-only briefing on October 14 to clients of Citigroup – a Wall Street megabank that is supervised by the Fed and which received the largest bailout from the Fed from 2007 to 2010 in global banking history – a cumulative sum of $2.5 trillion in secret loans according to a government audit. Smialek noted in her article that “About 40 people attended the event, which had a formal agenda and was advertised to Citi clients.” Bullard answered questions from attendees, according to Smialek’s reporting. Bullard is a voting member of the Fed’s Federal Open Market Committee and has access to insider information on the Fed’s market-moving monetary policy actions. Bullard would … Continue reading
Atlanta Fed President Bought Low and Sold High in 2020 as the Fed Bailed Out Wall Street; Then He Failed to Report those Trades
By Pam Martens and Russ Martens: October 17, 2022 ~ It was one year ago that Wall Street On Parade raised a multitude of red flags about Raphael Bostic, the President of the Atlanta Fed. We have published the entirety of that article below so that our readers can see just how long it took both Bostic and the Atlanta Fed to come clean with the American people about his trading on Wall Street. On Friday, Bostic released a seven-page statement in which he owned up to the following: failing to list a multitude of trades that were conducted on his behalf by trading firms on Wall Street over a period of five years; failing to properly report income on his assets on his financial disclosure forms; trading during blackout periods when trading was barred by the Federal Reserve; providing inaccurate values on his financial disclosure forms. The upshot was that … Continue reading
The Stock Exchange of the Future Has Arrived – With a Very Dark Past
By Pam Martens and Russ Martens: July 12, 2022 ~ On May 4, 2020, while Jay Clayton was the Chairman of the Securities and Exchange Commission in the Trump administration, the SEC granted approval for a new national stock exchange called MEMX, whose Wall Street megabank owners have admitted to a collective nine criminal felony counts brought by the U.S. Department of Justice. JPMorgan Chase accounts for five of those felony counts; Goldman Sachs and a subsidiary account for two felony counts; Citigroup and UBS account for one felony count each. The other owners of MEMX include: Bank of America, BlackRock, Charles Schwab, Citadel Securities, E*TRADE, Fidelity Investments, Flow Traders, Jane Street, Manikay Partners, Morgan Stanley, TD Ameritrade, Virtu Financial, Wells Fargo, and Williams Trading. The SEC’s letter approving MEMX as a national securities exchange stated that the SEC was confident that MEMX would “prevent fraudulent and manipulative acts and practices, … Continue reading