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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
Mega Banks Tell SEC: Derivatives Could Blow Up Wall Street Again
![Wall Street Bank Logos](https://wallstreetonparade.com/wp-content/uploads/2019/02/bank-logos-150-pix-150x97.jpg)
By Pam Martens: April 1, 2019 ~ The most recent 10Ks (annual reports) filed by the largest Wall Street banks covering their financial condition as of December 31, 2018, provide the strongest argument thus far for Congress to enact legislation to separate the Federally insured, deposit-taking commercial banks from the trading casinos on Wall Street. In other words, Congress needs to restore the Glass-Steagall Act, which kept the U.S. financial system safe for 66 years until its repeal in 1999. If the average American knew that the very same banks that blew up the U.S. economy, devastated the housing market, crashed the stock market, threw millions of Americans out of work just a decade ago were warning in their own 10K legal filings with the Securities and Exchange Commission that the same thing could happen again at any moment, there would be mobs with pitchforks in the street. But because corporate … Continue reading
U.S. Treasury Yields Go Haywire as Times Reveals Trump Tax Evasion
![Donald Trump](https://wallstreetonparade.com/wp-content/uploads/2018/09/trump-thumbnail-123x150.jpg)
By Pam Martens and Russ Martens: October 4, 2018 ~ Yesterday’s Treasury market was a mess. So was the front page of the New York Times, which featured a montage of tax records evidencing tax scams by the Trump family. We think there’s a connection. The New York Times’ 14,000 word expose and exhibits effectively render Trump a lame-duck president. That means that the country is left with the unprecedented national debt created under his big tax cuts for corporations and the wealthy along with a billionaire Emperor devoid of either clothes or the aura of a self-man man. The outlook for mounting U.S. debt pushing up Treasury yields comes at the same time that the Federal Reserve is scaling back its crisis-era purchases of Treasuries and as the European Central Bank begins this month to halve its bond purchases. The Federal Reserve, using a previously released schedule, began … Continue reading
Bernanke, Geithner, Paulson: The Fed Should Be Able to Make Secret Trillion Dollar Loans Again
![Marketplace, an American Public Media Program, Interviews (left to right) Timothy Geithner, Hank Paulson and Ben Bernanke in March 2018](https://wallstreetonparade.com/wp-content/uploads/2018/09/Marketplace-an-American-Public-Media__-Program-Interviews-Timothy-Geithner-Hank-Paulson-and-Ben-Bernanke-in__-March-2018-ii-150x150.jpg)
By Pam Martens and Russ Martens: September 10, 2018 ~ There seems to be a growing amount of concern these days about another epic financial crash on Wall Street. That, in itself, is a concern. After all, we’ve had only two great crashes in the past 89 years: one from 1929 to 1933 and one from 2008 to 2009. Why is another crash on the tip of so many tongues today? Last week JPMorgan Chase released a lengthy research report in which its analyst Marko Kolanovic suggested that in the event of another major Wall Street crisis, the Fed should not only have its emergency powers restored to buy up toxic debt with abandon from Wall Street but that the Fed might also have to buy up stocks – an unprecedented action for the U.S. central bank – or at least unprecedented as far as the public knows. The outrage … Continue reading
The $4 Trillion Answer to Why Turkey Is Rattling Wall Street Banks and Insurers
![](https://wallstreetonparade.com/wp-content/uploads/2018/06/Citi-BankAmerica-JPMorgan-Goldman-Logos-150x92.jpg)
By Pam Martens and Russ Martens: August 13, 2018 ~ On Friday the Dow Jones Industrial Average closed with a loss of 196 points as contagion jitters from Turkey’s worsening situation rattled markets. Among the big Wall Street banks, these were the biggest losers: Citigroup, down 2.39 percent; Morgan Stanley, down 2.12 percent; Goldman Sachs, down 1.78 percent; Bank of America, down 1.30 percent; and JPMorgan Chase closed off by 0.98 percent. Deutsche Bank, the big German lender whose U.S. subsidiary has a big footprint on Wall Street, lost 4.68 percent. Deutsche Bank has now lost 41 percent of its market value since February. But the selloff didn’t stop there. Two big U.S. life insurers also tumbled on Friday. MetLife lost 3.19 percent while Prudential Financial was off by 2.97 percent. What do Wall Street banks and U.S. life insurers have to do with a selloff in Turkey’s currency? Not … Continue reading
Wall Street Banks Tank Yesterday as Contagion Threat Grows
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By Pam Martens and Russ Martens: May 30, 2018 ~ Big Wall Street bank stocks outpaced the decline in the markets yesterday by a big margin. That’s a serious problem but here’s a bigger problem: if you get your information from mainstream media, you have no idea this happened or what it portends for the U.S. economy. Corporate media (a/k/a “mainstream” media) is obsessed with ratings, clickbait and celebrities behaving badly – which goes a long way in explaining why the U.S. has a billionaire celebrity in the oval office who publicly talks about television ratings when he greets hostages released by North Korea. It’s also now clear why so many members of Congress claimed that nobody could have seen the 2008 financial crisis coming: mainstream media simply refused to heed and report on the many warnings. The same thing happened yesterday. The Standard and Poor’s 500 Index fell by … Continue reading
What Is the Yield Curve Telling Us About the U.S. Economy?
![The Federal Reserve Building in Washington, D.C.](https://wallstreetonparade.com/wp-content/uploads/2013/12/Federal-Reserve-Building-Washington-D.C.-150x150.jpg)
By Pam Martens and Russ Martens: May 16, 2018 ~ On November 9 of last year, a mere six months ago, we asked the question: “Does Jerome Powell Hear the Alarm Bells from Flattening Yield Curve?” Jerome Powell is, of course, the new Chairman of the Federal Reserve — the U.S. central bank and the body in which the United States has entrusted its monetary policy, for better or worse. We wrote at the time: “As of 7:48 a.m. this morning, the spread between the 10-year Treasury Note (yielding 2.33 percent) and 30-year Treasury Bond (yielding 2.81 percent) is even smaller, at a meager 48 basis points or less than half of one percent. “It is a serious commentary on the bizarre financial times in which we live that a fixed income investor would be rewarded with less than half a percent of additional income to add 20 years of … Continue reading
Trump’s Tax Cut Follows a Pattern of Poor Vetting at White House
![](https://wallstreetonparade.com/wp-content/uploads/2018/05/White-House-2018-150x150.jpg)
By Pam Martens and Russ Martens: April 27, 2018 ~ It’s increasingly looking like President Trump vetted his tax cut plan about as thoroughly as he vetted his cabinets picks. That is likely to have a serious negative impact on U.S. economic growth, the housing market and consumer spending. Yesterday Trump’s pick to head the Veterans Affairs Administration withdrew his name from consideration after allegations of drinking on the job and wrecking a government car while drunk surfaced in statements made by two dozen of his current and former colleagues. Later in the day, Trump’s Senate-confirmed head of the Environmental Protection Agency, Scott Pruitt, was being grilled at two separate House hearings on his wasteful spending of taxpayer dollars for first class travel to Italy and Morocco, a $43,000 soundproof phone booth for his office despite the agency already having secure facilities, and for accepting a dramatically below-market rate of $50 … Continue reading
Why Did Yesterday’s Market Rout Miss the Big Wall Street Banks?
![](https://wallstreetonparade.com/wp-content/uploads/2018/04/DJIA-and-Nasdaq-Charts-for-April-24-2018-ii-150x150.jpg)
By Pam Martens and Russ Martens: April 25, 2018 ~ Wall Street knows something that the rest of us don’t. Based on past experience, when Wall Street keeps secrets it never works out well for the rest of us. We’re thinking about the time Wall Street banks colluded on rigging prices on the Nasdaq market; or the time they rigged their research departments and told us to buy stocks that they were secretly callings dogs and crap; or the time they got S&P and Moody’s to give them triple-A ratings on subprime pools of debt while keeping it a secret that they had internal reports showing the loans didn’t meet their origination standards — and then they went out and secretly shorted that debt while continuing to sell it to their customers as a good investment. Yesterday, something decidedly weird happened as U.S. stock markets were being pummeled. Three of … Continue reading
Senate Hearing: Facebook CEO Zuckerberg Is Questioned on Ties to CIA-Funded Company
By Pam Martens and Russ Martens: April 11, 2018 As Facebook’s CEO Mark Zuckerberg fingered his cheat sheet of canned answers to a barrage of questions from Senators yesterday on how Facebook had allowed a Trump-backed political operation to harvest personal data from 87 million of its users, Zuckerberg attempted to channel motherhood, apple pie, dorm room entrepreneurism and an altruistic desire to connect people around the world in one harmonious melding of human spirit. Unfortunately, the facts just kept getting in the way. There was the questioning from Senator Richard Blumenthal pointing out that Facebook had been caught red-handed in 2011 by the Federal Trade Commission in egregious abuses of its users’ personal data. Blumenthal said current activities at Facebook showed that Facebook was in “violation of the FTC consent decree.” Another uncomfortable moment came when Senator Patrick Leahy asked if Special Counsel Robert Mueller had issued subpoenas to … Continue reading
Democrats Gutting Wall Street Reform? Follow the Money.
By Pam Martens and Russ Martens: March 5, 2018 Today’s front page of the print edition of the New York Times has articles on the Oscars, the election in Italy, Ben Carson’s reign at HUD and the death of an elderly Briton who once broke the four-minute mile among numerous other less than urgent news pieces. What it does not have on its front page is any headline showing concern that the seminal piece of Wall Street reform legislation of the Obama era, which already has enough loopholes to set off champagne corks on K Street, may be dismantled this week by a vote in the Senate. The move would come in the midst of the 10th anniversary of the greatest Wall Street collapse and economic catastrophe since the Great Depression, both of which were underpinned by casino capitalism — Wall Street banks making obscenely leveraged bets for the house … Continue reading