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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: rap sheet
Unmasking the Truth on Masks to Protect Against Coronavirus: Fire the Surgeon General
![Boston Red Cross Volunteers During 1918 Spanish Flu Pandemic](https://wallstreetonparade.com/wp-content/uploads/2020/04/Boston-Red-Cross-Volunteers...-150x111.jpg)
By Pam Martens and Russ Martens: April 3, 2020 ~ On March 23 we wrote this: “For want of a mask the largest economy in the world has been gutted, with Goldman Sachs now projecting that U.S. GDP could contract by as much as 24 percent in the second quarter.” Now, in the past two weeks, 10 million Americans have filed claims for unemployment. Let that sink in, 10 million of our fellow citizens have lost their jobs in just a two-week period. In the same article linked above, we showed a photo dated March 4 from the Associated Press of people packed together on a subway in New York City with almost no one wearing a mask. And then we explained why: “On February 29, the Surgeon General Tweeted that the public should stop buying masks – despite scientific agreement that the virus is spread by sneezing, coughing and … Continue reading
The Tide Is Going Out and JPMorgan, Deutsche Bank and AIG Appear to Be Swimming (Read Trading) Naked
![JPMorgan Chase Bank Building](https://wallstreetonparade.com/wp-content/uploads/2020/02/JPMorgan-Chase-Bank-Building-1-146x150.jpg)
By Pam Martens and Russ Martens: March 29, 2020 ~ Warren Buffett is credited with the quote: “Only when the tide goes out do you discover who’s been swimming naked.” Friday’s closing prices among some of the heavily interconnected mega Wall Street banks and insurance companies known to be counterparties to Wall Street’s derivatives appeared to show who’s swimming naked in the realm of derivatives – naked meaning who has sold derivative protection (gone short the risk) on something that is blowing up. As the chart above shows, the S&P 500 stock index (SPX) closed with a loss of 3.37 percent while the following three stocks closed with more than double that percentage of loss: Deutsche Bank was down by 7.44 percent; JPMorgan shed 7.12 percent while AIG was off by 7.27 percent. When the Federal Reserve needs to create a hodgepodge of secretive Special Purpose Vehicles (SPVs) and run … Continue reading
The Fed Has Pumped $9 Trillion into Wall Street Over the Past Six Months, But Mnuchin Says “This Isn’t Like the Financial Crisis”
![U.S. Treasury Secretary Steve Mnuchin (Thumb Print)](https://wallstreetonparade.com/wp-content/uploads/2020/03/U.S.-Treasury-Secretary-Steve-Mnuchin-Thumb-Print-150x126.jpg)
By Pam Martens and Russ Martens: March 14, 2020 ~ On February 12, 2020, the Dow Jones Industrial Average closed at 29,551.42. Yesterday, March 13, the Dow closed at 23,185.62 -– a loss of 6,365.80 points in one month’s time, or 21.54 percent. In 2008, the greatest financial calamity since the Great Depression, the Dow had lost 2,339.60 points or 21.4 percent one month after the frightening events of September 15, 2008 when Lehman Brothers filed bankruptcy, Merrill Lynch had to be taken over by Bank of America, and one day before the U.S. government seized the giant insurer, AIG, because it couldn’t pay the tens of billions of dollars in derivative bets it had made with the mega banks on Wall Street. On this past Friday morning, in what appeared to be an effort to restore confidence on Wall Street, U.S. Treasury Secretary Steve Mnuchin gave an interview on … Continue reading
Jamie Dimon’s Remarks on Discount Window Add to Market Panic
![Jamie Dimon, Chairman and CEO of JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/07/Jamie-Dimon-Film-Grain-100pix.jpg)
By Pam Martens and Russ Martens: February 27, 2020 ~ During the financial panic of 1907, John Pierpont Morgan corralled the money men of New York together and convinced them to join him in bailing out teetering financial institutions in order to calm the panic in the markets. His plan worked. Flash forward to today. Jamie Dimon is Chairman and CEO of the bank that bears John Pierpont Morgan’s name: JPMorgan Chase. The bank is the largest federally-insured bank in the U.S. with $1.6 trillion in deposits. It has more than 5,000 bank branches across America accepting the life savings of moms and pops. But JPMorgan Chase is also the largest trading and derivatives house on Wall Street – a dangerous, combustible mix as it proved so well in 2012 when it lost $6.2 billion of depositors’ money making wild gambles in derivatives in London. On Tuesday of this week, … Continue reading
The Fed Has a Dangerous Repo Problem: Here Are the Charts
![Equity Fund Flows from Morningstar](https://wallstreetonparade.com/wp-content/uploads/2020/02/Equity-Fund-Flows-from-Morningstar-150x150.jpg)
By Pam Martens and Russ Martens: February 7, 2020 ~ On both days this week that the New York Fed offered its $30 billion in 14-day repo loans to 24 trading houses on Wall Street, there was far more demand than the New York Fed had preannounced it would provide. On Tuesday, the demand was for $59.05 billion while the New York Fed provided only $30 billion. On Thursday, the demand was for $57.25 billion while the New York Fed provided $30 billion. In short, there is a growing demand for long-term loans at affordable rates on Wall Street – meaning one or more trading houses has a borrowing problem. The Fed’s loans this week were made at a below-market interest rate of 1.60 percent. The demand for the 14-day loans came on the same days that the New York Fed also funneled huge amounts of money in one-day loans … Continue reading
Fed Chair Powell Has Gone Rogue on Repo Loans and the Volcker Rule
![Jerome Powell Is Sworn In As Federal Reserve Chairman on February 5, 2018 by Fed Vice Chairman Randal Quarles.](https://wallstreetonparade.com/wp-content/uploads/2018/02/Jerome-Powell-Is-Sworn-In-As-Federal-Reserve-Chair-150x150.png)
By Pam Martens and Russ Martens: February 3, 2020 ~ The Chairman of the Federal Reserve, Jerome (Jay) Powell, regularly states at his press conferences that the Federal Reserve is there to serve the interests of the American people. But his actions regularly undermine the credibility of that statement in a manner not all that dissimilar to Alan Greenspan, whose Fed chairmanship oversaw the gutting of Wall Street banking regulations and ended just before the greatest Wall Street collapse since the Great Depression. Powell goes out of his way to present himself at his press conferences as the quintessential public servant whose only mission is to perform the mandate set out by the elected representatives in Congress while his actions strongly suggest he is a wily rogue agent for Wall Street’s cartel of bank trading houses. Congress set out its mandate for the Federal Reserve and its fellow regulators to … Continue reading
World Bank Releases Bleak Outlook for U.S. Growth this Year through 2022
![U.S. Activity Indicators (Thumbnail)](https://wallstreetonparade.com/wp-content/uploads/2020/01/U.S.-Activity-Indicators-Thumbnail-150x109.jpg)
By Pam Martens and Russ Martens: January 9, 2020 ~ Yesterday the World Bank released a report forecasting a decidedly bleak outlook for GDP growth in advanced economies. The U.S. is expected to grow at just 1.8 percent this year and a further drop to 1.7 percent in 2021 and 2022. That forecast throws extremely cold water on what Donald Trump promised just two years ago. On December 6, 2017 President Donald Trump stated at a news conference that his giant corporate tax cut (which Congress ended up passing later that same month) could boost GDP growth to “4, 5 and even 6 percent.” (See video clip below.) In 2018, U.S. GDP registered 2.9 percent and GDP growth for 2019 is expected to drop to approximately 2.2 percent, according to the Federal Reserve’s latest forecast. Thus, a tax cut that has spiraled the United States’ national debt to over $23 … Continue reading
Stock Exposure Has Exploded at JPMorgan’s Federally-Insured Bank to $2.4 Trillion
![Jamie Dimon, Chairman and CEO of JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/11/Jamie-Dimon-iii.jpg)
By Pam Martens and Russ Martens: January 7, 2020 ~ Federally-insured banks are not supposed to be making large speculations in the stock market. They are supposed to be using bank deposits to make loans to worthy businesses and consumers to help grow the U.S. economy and keep the United States competitive on the global stage. But according to the official reports from the federal regulator of national banks, the Office of the Comptroller of the Currency (OCC), since December 31, 2010 the federally-insured bank owned by the monster trading house of JPMorgan Chase (JPMorgan Chase Bank NA) has increased its equity (stock) derivative bets from $337 billion to $2.4 trillion as of its latest report for the quarter ending September 30, 2019. (The data is found in a graph titled “Table 10” in the appendix of each of the quarterly reports published by the OCC.) During the period that … Continue reading
Why Is Wall Street the Only Industry in America With Access to the Fed’s Endless Money Machine?
![John Williams, President of the Federal Reserve Bank of New York](https://wallstreetonparade.com/wp-content/uploads/2019/10/John-Williams-feature-panel-iii.jpg)
By Pam Martens and Russ Martens: January 2, 2020 ~ Consumers represent two-thirds of GDP in the United States. And yet, when consumers run into trouble, they don’t get a handout from the Federal Reserve – they are forced to file bankruptcy. There are no Fed handouts to small business owners, farmers, or main street merchants either. So why is it exactly that the trading houses on Wall Street, with a serial history of crimes and with the most overpaid and under-punished executives on the planet, are able to perpetually have secret communications with the New York Fed and magically turn on the flow of trillions of dollars of ridiculously cheap loans to bail out their hubris and corruption. The obscene money spigot from the New York Fed to Wall Street’s trading houses didn’t start with the epic financial crisis of 2008, as most Americans believe. It started following the … Continue reading
It’s Official: JPMorgan Chase Is the Riskiest Big Bank in the U.S.
![JPMorgan Chase Building](https://wallstreetonparade.com/wp-content/uploads/2019/11/JPM-Chase-Building-150x150.jpg)
By Pam Martens and Russ Martens: November 25, 2019 ~ The National Information Center is a little-known repository of bank data collected by the Federal Reserve. It is part of the Federal Financial Institutions Examination Council (FFIEC), which was created by federal legislation to create uniformity in the examination of U.S. financial institutions by the numerous federal regulators of banks. Quietly, the National Information Center has done something that has likely made Jamie Dimon hopping mad. Dimon is the Chairman and CEO of JPMorgan Chase who has bragged perpetually in his annual letter to shareholders about how the bank he leads has a “fortress balance sheet.” But now the National Information Center has created a graphic profile of JPMorgan Chase versus its peer banks. The graphics crunch a series of important financial metrics at JPMorgan Chase, showing it to be the riskiest bank in the United States. The data used … Continue reading