-
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: jay clayton 8 out of 10
SEC Charges Elizabeth Holmes with “Massive Fraud” but Says She Can Head a Public Company in 10 Years

By Pam Martens and Russ Martens: May 24, 2018 ~ On March 14 the Securities and Exchange Commission charged Theranos founder and CEO Elizabeth Holmes with a “massive fraud.” According to the SEC, Holmes had made wild and false claims about the company’s purportedly revolutionary blood testing device as the company fraudulently raised $700 million from investors. But despite the SEC investigators’ well-developed “massive fraud” charges against Holmes, five days later the SEC let the 30-something woman off the hook with a $500,000 fine, surrender of her shares in the company, and barred her from being an officer or director of a publicly traded company for 10 years. In other words, when Holmes is in her early 40s, she will have the opportunity to once again run another massive fraud and bilk investors. This is exactly the kind of hubris we have come to expect from the SEC. (See related articles … Continue reading
Trump Transition Team Emails: Here’s Why Washington Insiders Are Freaking Out
By Pam Martens and Russ Martens: December 18, 2017 On Saturday, the news broke that Kory Langhofer, counsel to Donald Trump’s transition team known as Trump for America, Inc. (TFA), had sent a 7-page letter to House and Senate Committees stating that Special Counsel Robert Mueller’s office had improperly received “tens of thousands of emails” from the General Services Administration (GSA), a Federal agency, that had been sent or received by members of Trump’s transition team. Both the GSA and Mueller’s spokesmen denied that there had been anything improper about the turnover of the emails. Peter Carr, a spokesman for Mueller, said that “When we have obtained emails in the course of our ongoing criminal investigation, we have secured either the account owner’s consent or appropriate criminal process.” Lenny Loewentritt, a veteran lawyer for the GSA told Buzzfeed that transition team members were told by the GSA that materials “would … Continue reading
Senator Elizabeth Warren Expresses Skepticism about SEC Chair’s Real Agenda
By Pam Martens and Russ Martens: September 27, 2017 Donald Trump’s pick for Chairman of the Securities and Exchange Commission, Jay Clayton, had good reason to be nervous yesterday morning as he prepared to testify before the U.S. Senate Banking Committee. The ranking member of that Committee, Senator Sherrod Brown, had previously made his feelings known about Clayton’s fitness to serve as Wall Street’s top cop prior to Clayton’s Senate confirmation. Brown had stated: “It’s hard to see how an attorney who’s spent his career helping Wall Street beat the rap will keep President-elect Trump’s promise to stop big banks and hedge funds from ‘getting away with murder.’ I look forward to hearing how Mr. Clayton will protect retirees and savers from being exploited, demand real accountability from the financial institutions the SEC oversees, and work to prevent another financial crisis.” Wall Street On Parade did further investigation of Clayton … Continue reading
Is SEC Nominee Jay Clayton the New Harvey Pitt?
By Pam Martens and Russ Martens: March 8, 2017 Yesterday the Senate Banking Committee announced that the confirmation hearing for Trump’s nominee to Chair the Securities and Exchange Commission, Jay Clayton, will be held on March 23. Expect fireworks in the hearing from Democrats who are mad as hell at the myriad conflicts of this nominee. When Clayton’s name was first announced by the Trump camp, Senator Sherrod Brown, the Democrat’s ranking member of the Senate Banking Committee, sent out a press release with this statement: “It’s hard to see how an attorney who’s spent his career helping Wall Street beat the rap will keep President-elect Trump’s promise to stop big banks and hedge funds from ‘getting away with murder.’ I look forward to hearing how Mr. Clayton will protect retirees and savers from being exploited, demand real accountability from the financial institutions the SEC oversees, and work to prevent … Continue reading
Mr. President, This Is What You Should Know About Public-Private Partnerships
By Pam Martens and Russ Martens: March 1, 2017 In President Trump’s speech last evening to a joint session of Congress, he described his plan to rebuild America’s crumbling infrastructure as follows: “To launch our national rebuilding, I will be asking the Congress to approve legislation that produces a $1 trillion investment in the infrastructure of the United States — financed through both public and private capital — creating millions of new jobs.” Financed through “both public and private capital” sounds a lot like a public-private partnership. Here’s how those hybrid creatures have worked out so far for the American people. Fannie Mae and Freddie Mac were, effectively, public-private partnerships. (The government preferred to call them “Government Sponsored Enterprises” or GSEs.) Each company traded on the New York Stock Exchange and each company had private shareholders. Because Fannie and Freddie had a line of credit from the U.S. Treasury and … Continue reading
SEC Nominee Has Represented 8 of the 10 Largest Wall Street Banks in Past Three Years
By Pam Martens and Russ Martens: February 22, 2017 President Trump’s nominee to head the Securities and Exchange Commission, Walter J. (Jay) Clayton, a law partner at Sullivan & Cromwell, has represented 8 of the 10 largest Wall Street banks as recently as within the last three years. Clayton’s current resume at his law firm is somewhat misleading. It lists under “Representative Engagements” in “Capital Markets/Leveraged Finance” the following: Initial public offering of $25 billion by Alibaba Group Holding Limited; Initial public offering of $190 million by Moelis & Company; Initial public offering of $2.375 billion by Ally Financial. All three of the above IPOs occurred in 2014 – less than three years ago. A quick check of the prospectuses for the IPOs that were filed with the Securities and Exchange Commission shows that Clayton, as a law partner at Sullivan & Cromwell, was representing the underwriters in the offering, which include the largest … Continue reading
Political Revolution Sprouts New Shoots Outside Goldman Sachs
By Pam Martens and Russ Martens: January 18, 2017 Sometimes all it takes to win a war is a rallying cry. That cry started in the bowels of Wall Street on September 17, 2011 with the takeover of Zuccotti Park by grassroots protesters calling themselves Occupy Wall Street. The thunder clap from that movement, “we are the 99 percent,” reverberated around the world. Occupy focused the public’s attention on the insidious wealth transfer system that has been institutionalized by Wall Street on behalf of the 1 percent – a system which has minted dozens of billionaires and thousands of multi-millionaires while collapsing the U.S. economy from 2008 to 2010 and leaving millions of Americans homeless and jobless. (See our past coverage of Occupy in related articles below.) Yesterday, green shoots from the Occupy movement sprouted in a light falling rain outside the headquarters of Goldman Sachs at 200 West Street … Continue reading
The Apple Credit Card from Goldman Sachs Has Been a Co-Branding Nightmare; Now Apple Wants a Divorce

By Pam Martens and Russ Martens: November 29, 2023 ~ The employee at Apple who was put in charge of conducting due diligence on aligning the Apple credit card brand with Goldman Sachs, needs to be immediately demoted to sorting envelopes in the mail room. It has been a match made in hell, generating headlines in the business press over the billions of dollars Goldman Sachs has lost attempting to ramp up a credit card division from scratch while spawning federal investigations into Goldman’s less than timely handling of credit card customer complaints about fraudulent charges, billing errors, refunds, etc. After hundreds of those complaints piled up at the Consumer Financial Protection Bureau (CFPB), the Bureau opened a federal investigation. (The CFPB is the federal agency created to hear directly from defrauded consumers following the 2008 Wall Street-generated financial crisis). In the most recent quarterly report filed by Goldman with the … Continue reading
Sullivan & Cromwell, FTX Lead Counsel in Bankruptcy, Says It Has No Adverse Relationships, Despite Representing Four of FTX’s Crypto Exchange Competitors

By Pam Martens and Russ Martens: January 10, 2023 ~ Sullivan & Cromwell ranks among the oldest law firms in America. It was founded 144 years ago by Algernon Sydney Sullivan and William Nelson Cromwell in Manhattan’s financial district. During the financial bust in the 1930s, Sullivan & Cromwell garnered its reputation for defending Wall Street firms against shareholder lawsuits and antitrust actions. As Wall Street On Parade previously detailed, the firm’s Senior Chairman, Rodge Cohen, paved the way for the Fed’s unprecedented $29 trillion bailout of Wall Street banks after their corrupt activities collapsed the U.S. economy in 2008. And, of course, there was S&C partner Jay Clayton, who was tapped by President Donald Trump to Chair the SEC – and, in our opinion, left markets mired in the worst corruption since 1929. Against that backdrop, one would think that S&C would be attempting to stay off the radar screen … Continue reading
Big Law Firm, Sullivan & Cromwell, Did Significant Legal Work for Bankrupt Crypto Exchange, FTX

By Pam Martens and Russ Martens: November 13, 2022 ~ According to Reuters, Sullivan & Cromwell has been named as one of the advising law firms to the disgraced crypto exchange, FTX, in its bankruptcy proceedings. Sam Bankman-Fried, the co-founder and CEO of FTX, vaporized the high-profile crypto firm from a $32 billion valuation to smoldering ashes last week. Reuters reported that Bankman-Fried had moved as much as $10 billion of FTX customers’ money to his separate hedge fund, Alameda Research, through a “backdoor” in its software. Alameda had lost much of the money on wild bets while $1 billion to $2 billion had just “disappeared,” according to Reuters. The Financial Times reported that FTX held just $900 million “in easily sellable assets” against $9 billion “of liabilities the day before it collapsed into bankruptcy.” The FTX news grew even more bizarre over the weekend with the New York Times reporting … Continue reading