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Recent Posts
- 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
- The DOJ’s Incestuous Relationship with Jamie Dimon Is Captured in a Graphic from an Historic Lawsuit
- Everything that’s Dangerous about U.S. Banks Today in One Highly Readable Book
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Wall Street’s Banks Could Profit by Millions on Coronavirus Deaths of Employees
By Pam Martens and Russ Martens: April 7, 2020 ~ If it sounds ghoulish, it’s because it is ghoulish. Some of the biggest banks on Wall Street have been intimidating their traders to come back to work despite an executive order from the Governor of New York State, Andrew Cuomo, ordering people to remain at home during the coronavirus outbreak unless they work for essential businesses like grocery stores, pharmacies and hospitals. New York State, home to Wall Street, is now the epicenter of the coronavirus outbreak in the United States with 5,489 deaths as of today or 44 percent of all deaths from coronavirus in the entire United States. Now, it turns out, while Wall Street traders have taken on greater health risks of catching the coronavirus by traveling to work on mass transit and working in a potentially contaminated building, some of the biggest banks will collect a … Continue reading
10,599 Corporate Lawyers Have Donated to Buttigieg’s Campaign: Here Are the Dirty Little Secrets
By Pam Martens and Russ Martens: February 10, 2020 ~ Pete Buttigieg, a 38-year old former mayor of South Bend, Indiana, a city with a population of 102,000, who has never held an elected federal office and was unknown to the majority of Americans last spring, has magically risen to the top ranks of the field of Democratic contenders for President – a field that includes three sitting U.S. Senators and a former Vice President. On top of Buttigieg’s lack of experience in Washington, Buttigieg has almost no support from the black community, which would be essential for winning the Presidency. So exactly why has Buttigieg raised $77 million from some of the smartest and richest people in America. According to our tally from the Federal Election Commission’s data, 10,599 donor entries for Buttigieg list their occupation as lawyer or attorney. On top of that, there’s a high correlation between … Continue reading
Democratic Debate July 30, 2019: Highlights that Sizzled
By Pam Martens and Russ Martens: July 31, 2019 ~ Last night’s Democratic Debate could have covered all the positions in the field at Yankee Stadium and had one player left over. In fact, the debate roster should have been limited to nine contenders instead of ten because former Maryland Congressman John Delaney was clearly batting for the other team. Time and time again, Delaney sounded like a die-hard Republican. And Delaney was aided and abetted by CNN moderator Jake Tapper, who phrased one question to Senator Bernie Sanders this way: Tapper: “Let’s start the debate with the number-one issue for Democratic voters, health care. And Senator Sanders, let’s start with you. You support Medicare For All, which would eventually take private health insurance away from more than 150 million Americans, in exchange for government-sponsored health care for everyone. Congressman Delaney just referred to it as bad policy. And previously, … Continue reading
JPMorgan Managing Director Dies Suddenly; Has Links to Other JPM Deaths
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
Koch Advances Its Wall Street Playbook, Gutting the Office of Financial Research
By Pam Martens and Russ Martens: August 9, 2018 ~ As we have previously reported, there is indisputable documentation that Charles Koch, the fossil fuels billionaire who sits at the helm of Koch Industries, is in charge of the de-regulatory agenda in the Trump administration through a web of front groups. More proof came yesterday. Reuters announced that the Trump administration had “formally told” around 40 staff members of the Office of Financial Research (OFR) that “they will lose their jobs as part of a broader reorganization of the agency….” Reuters also reported that the agency’s budget has already been cut by 25 percent “to around $76 million.” Imagine having only $76 million to police an industry where just one of the big Wall Street banks, JPMorgan Chase, had profits of $8.32 billion in its last quarter. Charles Koch has long understood that if you can’t repeal the legislation that … Continue reading
Why Did Trump Just Bully the Federal Reserve on Interest Rates
By Pam Martens and Russ Martens: July 20, 2018 ~ Could we start hearing chants of “lock him up” against Fed Chair Jerome Powell at Trump rallies? Could Powell be ridiculed as “Little Interest Rate Man” on Trump’s Twitter feed? Trump may be attempting to plant those seeds of angst in Powell’s brain. In addition to playing with Powell’s head, President Donald Trump accomplished two things in his interview on CNBC yesterday when he made it clear that he’s “not thrilled” with the Federal Reserve’s plans to continue raising interest rates. He threw more red meat to his base (many of whom want to abolish the Fed altogether) and he laid the groundwork for scapegoating the Fed if the economy goes south on his watch. Trump had this to say about the Federal Reserve raising interest rates to CNBC anchor Joe Kernen (see full interview in video below): “I’m not … Continue reading
An Open Letter to Fellow Americans on the 242nd Anniversary of our Nation
By Pam Martens and Russ Martens: July 4, 2018 ~ Happy Independence Day. Or not. Today marks the 242nd anniversary of America adopting the Declaration of Independence and throwing off the yoke of King George III – the tyrant against whom much of our founding document was written. These are among the charges that the crafters of this historic document leveled against the King: “He has refused his Assent to Laws, the most wholesome and necessary for the public good… “He has made Judges dependent on his Will alone, for the tenure of their offices, and the amount and payment of their salaries… “For cutting off our Trade with all parts of the world… “For depriving us in many cases, of the benefits of Trial by Jury…” Now consider where we Americans stand today. Within six months of assuming the most powerful position in the world, President Donald Trump, who … Continue reading
Facebook and JPMorgan Chase: Case Studies in Exploitive Monetization
By Pam Martens and Russ Martens: April 5, 2018 Last week the CEO of Apple, Tim Cook, gave a harsh critique on how Facebook is making its money. Cook told an MSNBC Town Hall: “The truth is we could make a ton of money if we monetized our customer, if our customer was our product. We’ve elected not to do that.” Cook has good reason to believe that Facebook has “monetized” its customers. After a whistleblower from the data mining company, Cambridge Analytica, exposed that Facebook had allowed the private information on 50 million Facebook users to be exploited for micro-targeting on behalf of the Trump presidential campaign, the company has come under withering criticism. Yesterday, in a press conference, Mark Zuckerberg, the CEO of Facebook, conceded to reporters that the privacy breach by Cambridge Analytica could have affected as many as 87 million Facebook users. The company also announced … Continue reading
U.S. Economy at Risk from Trump’s Poll Numbers
By Pam Martens and Russ Martens: June 15, 2017 A new poll is out from the Associated Press/NORC Center for Public Affairs Research at the University of Chicago. It doesn’t bode well for Donald Trump’s presidency nor for the U.S. economy. Despite Wall Street’s century-old propaganda campaign to convince Washington that it controls the levers to economic growth in the U.S., and thus must be placated on its every desire, informed citizens understand that economic power rests in the hands of the consumer in a nation where two-thirds of GDP is consumer spending. Likewise, consumer confidence in the President of the United States impacts one’s willingness to open the purse strings and buy. The thinking is: if the country is headed in the wrong direction, how safe is my job? Perhaps I should stop spending and put money away for a rainy day. The new poll shows that 64 percent … Continue reading
Breaking Up the Big Wall Street Banks Is Back in the Headlines
By Pam Martens and Russ Martens: April 24, 2017 In the past two weeks, newspaper headlines have revived the debate on whether the mega Wall Street banks continue to pose a systemic threat to the U.S. banking system and the economy. This is a desperately needed public debate that demands facts – not a revisionist history of what actually caused the 2008-2010 Wall Street collapse and the worst economic downturn since the Great Depression. This recent attention has been fueled by reports that Gary Cohn, former President of Goldman Sachs who now heads Donald Trump’s National Economic Council, met privately this month with members of the Senate Banking Committee and indicated he would be open to the restoration of a modernized version of the Glass-Steagall Act. (Mr. Cohn did not refute those reports.) The 1933 Glass-Steagall Act was passed by Congress at the height of the Wall Street collapse and … Continue reading