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Recent Posts
- 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
- The Curious Money Trail Behind the Supreme Court/Clarence Thomas Decision to Rescue a Federal Agency that Wall Street Hates
- Saudi Arabia’s Wealth Fund Dumps Its JPMorgan Chase Stock; Warren Buffett’s Berkshire Hathaway Did the Same in 2020
- One of Jeffrey Epstein’s Protectors at JPMorgan Chase, Mary Erdoes, Has Sold $29 Million of Her Stock in the Bank Since Just Before Epstein’s Arrest in 2019
- Delinquencies on Office Property Loans at Banks Are at 8 Percent While Office Loans the Banks Sold to Investors Show 31 Percent in Trouble
- Goldman Sachs Shines Up Its Swamp Creature Reputation by Rehiring Robert Kaplan as Vice Chairman – the Guy Who Traded Like a Hedge Fund Kingpin While President of the Dallas Fed
- Cleary Gottlieb – Outside Counsel to Wall Street’s Serially Bailed Out Megabanks – Tarnishes the FDIC Chair in its So-Called “Independent” Report
- JPMorgan Chase and Its Regulators Are Hiding Dark Trading Secrets at the Largest and Riskiest U.S. Bank
- Campus Protests Over Gaza Open a Pandora’s Box for Wall Street Megabanks that Underwrote $8 Billion of Israel’s Bonds in March
- Wall Street’s Megabanks Have Trillions of Dollars Off-Balance Sheet, in a Replay of Accounting Hubris that Led to the 2008 Wall Street Collapse
- JPMorgan Remains the Second Largest Money Market Fund Manager, Despite Needing Billions in Money Market Bailouts from the Fed in 2020
- The First Bank Failure of 2024 Leaves a 1-Cent Stock for Investors and $667 Million in Losses for the FDIC
- Catch and Kill Protection Rackets: Trump, Weinstein, Epstein and Wall Street
- Wall Street’s Judge Shopping Continues: It’s Trying to Stop the FTC’s Ban on Worker Handcuffs Known as Non-Compete Agreements
- 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”
Search Results for: JPMorgan
What Was JPMorgan Doing in its Dark Pools During the 2,000-Point Plunge Week?
By Pam Martens and Russ Martens: February 26, 2018 On Monday, February 5 and again on Thursday, February 8, the Dow Jones Industrial Average closed the day with more than 1,000-point losses. We decided it might be instructive to see what JPMorgan’s Dark Pools were up to that week now that the three-week old data has been released by the self-regulator FINRA. We’ll get to that shortly, but first some necessary background. Dark Pools are effectively unregulated stock exchanges that operate in darkness inside Wall Street’s largest firms. If you have been following the past decade of criminal felony counts for colluding in market rigging and multi-billion dollar fines for abusing the public against these same firms, you might be forgiven for thinking that Federal regulators have lost their minds to allow these same firms to operate Dark Pools. But it’s actually worse than it first appears: not only are … Continue reading
JPMorgan’s Most Admired Bank Award: General Public Had No Say
By Pam Martens and Russ Martens: January 29, 2018 Someone really needs to send the good folks at Fortune Magazine a heads up that naming a bank that has admitted to three criminal felony counts in 2014-15 and lost more than $6 billion gambling with its depositors’ money does not have the makings for a most-admired anything, unless possibly most-admired for dodging jail time. JPMorgan Chase has decided to spin the award as follows on its website: “JPMorgan Chase was given the top industry ranking the second year in a row on Fortune magazine’s list of ‘The World’s Most Admired Companies of 2018.’ Fortune also ranked the firm as the tenth most-admired company in the world.” One might suspect from the above that the industry in which JPMorgan Chase was ranked was the overall financial services industry or overall banking industry. But it wasn’t. JPMorgan Chase achieved its top award … Continue reading
Russian Bank Chairman Met With Kushner, Citigroup and JPMorgan Chase
By Pam Martens and Russ Martens: June 6, 2017 Headline writers at the New York Times need to sharpen their pencils. Yesterday’s New York edition carried a front page article that links two of the biggest Wall Street banks, Citigroup and JPMorgan Chase, to the Jared Kushner affair with the Russian banker, Sergey Gorkov, Chairman of the state-owned Russian bank Vnesheconombank (VEB) which has been under U.S. sanctions since 2014. But readers would have missed that completely if they only read the softball headline, which failed to mention either bank. Everyone on Wall Street has been waiting for the next shoe to drop in the Jared Kushner episode. Kushner is under FBI and Congressional probes over allegations that he met in December with Gorkov while simultaneously attempting to set up a secret channel to communicate with Russia using its equipment inside its own embassy – ostensibly to thwart U.S. intelligence … Continue reading
What JPMorgan and Citigroup Have in Common When It Comes to Crime
By Pam Martens and Russ Martens: February 23, 2017 On September 8, 2016, the Consumer Financial Protection Bureau (CFPB) fined Wells Fargo $185 million following an investigation that found that its employees had engaged in a widespread practice of “secretly opening unauthorized deposit and credit card accounts” in order to meet sales quotas or qualify for bonuses. An estimated 2 million accounts were involved. One month later, the Chairman and CEO of Wells Fargo, John Stumpf, was gone. Consider that swift action to acknowledge and punish egregious abuse of clients with how the Boards of Directors of JPMorgan Chase and Citigroup have responded to criminal felony charges and seemingly endless regulatory fines for abusing clients’ trust. The Boards have kept their CEOs in place, paid the monster fines and moved on to the next settlement. Jamie Dimon became the CEO of JPMorgan Chase on January 1, 2006. At that point, … Continue reading
Strange Deaths of JPMorgan Workers Continue
By Pam Martens and Russ Martens: September 29, 2016 Last Thursday, September 22, 2016, the body of Ann Korkki, a Senior Administrative Assistant in the Wealth Management division of JPMorgan Chase in Denver, Colorado was found with the body of her sister, Robin Korkki, inside their luxury vacation villa at the Maia Resort on Seychelles, an island in the Indian Ocean off the East African coast. Ann Korkki was 37; her sister Robin was 42. According to the local Seychelles newspaper, there was no sign of violence on the bodies of the women who were on a one week vacation at the resort. The mother and brother of the sisters are currently in Seychelles “pressing U.S. and local officials for details” and making arrangements to bring the sisters back to the U.S. according to a news report in the Minneapolis Star Tribune, which covered the story because the sisters had … Continue reading
Get Ready for JPMorgan and Goldman Sachs to Get Yanked from the Dow
By Pam Martens and Russ Martens: July 6, 2016 Yesterday, Wall Street mega bank, JPMorgan Chase, was the biggest percentage decliner in the Dow Jones Industrial Average, losing 2.79 percent. Goldman Sachs, another Dow stock, was third in line after Caterpillar, losing 2.56 percent. But that performance was absolutely mild compared to how other global bank stocks that aren’t in the Dow performed. Morgan Stanley lost 3.55 percent; Citigroup shed 3.30 percent; while Deutsche Bank, a German bank heavily interconnected with Wall Street banks, that trades on the New York Stock Exchange, touched $13.34 intraday – its lowest share price in more than 30 years. Deutsche Bank closed the day at $13.40, down 3.67 percent. A U.S. unit of Deutsche Bank, which is designated a global systemically important bank (G-SIB), recently failed its stress test according to the Federal Reserve. Wall Street’s global banks have now resumed a selloff that … Continue reading
GAO: JPMorgan Chase Customers Lost $5.4 Billion to Madoff
By Pam Martens and Russ Martens: April 22, 2016 Buried in a report released yesterday by the Government Accountability Office (GAO) was a stunning piece of news. Customers of JPMorgan Chase, the bank that Wall Street analyst Mike Mayo has preposterously called the “Lebron James of banking,” were major victims of Bernie Madoff’s Ponzi scheme – to the tune of $5.4 billion – because of negligence on the part of the bank. The report states the following: “In 2014, DOJ [Department of Justice] assessed a $1.7 billion forfeiture – the largest penalty related to a BSA [Bank Secrecy Act] violation – against JPMorgan Chase Bank. DOJ cited the bank for its failure to detect and report the suspicious activities of Bernard Madoff. The bank failed to maintain an effective anti-money-laundering program and report suspicious transactions in 2008, which contributed to their customers losing about $5.4 billion in Bernard Madoff’s Ponzi … Continue reading
The Fed Sends a Frightening Letter to JPMorgan and Corporate Media Yawns
By Pam Martens and Russ Martens: April 14, 2016 Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system. A rational observer of Wall Street’s serial hubris might have expected some key segments of this letter to make it into the business press. A mere eight years ago the United States experienced a complete meltdown of its financial system, leading to the worst economic collapse since the Great Depression. President Obama and regulators have been assuring us over these intervening eight years that things are … Continue reading
Elizabeth Warren Is Why JPMorgan Has a Living Will Problem
By Pam Martens and Russ Martens: April 13, 2016 The Wall Street Journal reported yesterday that two Federal regulators, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC), are set to “reject” the living wills of potentially four systemically important banks, including the largest bank in the U.S., JPMorgan Chase. The three other banks named are Bank of New York Mellon, State Street and Bank of America. Under Section 165 of the financial reform legislation known as Dodd-Frank, banks designated as systemically important must submit living wills to the Fed and FDIC explaining how they can be “rapidly” liquidated if they fail without bringing down the rest of the financial system – as occurred in 2008. A serious dust-up occurred on July 15, 2014 during a Senate Banking hearing between Senator Elizabeth Warren and Fed Chair Janet Yellen on the matter of these living wills. Warren told Yellen that at … Continue reading
JPMorgan and Donald Trump Have Unusual Trading Patterns
By Pam Martens and Russ Martens: March 24, 2016 Presidential candidate Donald Trump and the mega Wall Street bank JPMorgan Chase share a common trait: they can conduct themselves in a manner that insults the values of a civilized society and instead of losing ground, their star rises – or so it appears. Trump’s public vulgarity and anti-Presidential demeanor are perpetually on display at his Twitter page and in the Republican debates. In just the past month, Trump has called Fox News anchor Megyn Kelly “crazy”; boasted of the size of his “manhood” during a Republican debate; and promised to ramp up the use of torture – illegal under both domestic and international law. The typically staid Senator Elizabeth Warren even lost her cool with Trump on March 21, Tweeting that “his insecurities are on parade: petty bullying, attacks on women, cheap racism, flagrant narcissism.” In a new CBS News/New York … Continue reading