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Recent Posts
- 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
- 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
Search Results for: JPMorgan
JPMorgan: Too Big To Tell the Truth
By Pam Martens: June 19, 2012 The House Financial Services Committee was in hearing session for four hours today on JPMorgan Chase’s losses and the only thing that was materially different from last week’s Senate Banking hearing was the tie of Jamie Dimon, Chairman and CEO of JPMorgan Chase. America’s mega banks that are too big to fail are now viewed as too big to manage, too big to regulate and the latest incarnation, too big to tell the truth to the American people for fear of a panic. Repeatedly during the hearing today, Chairman Spencer Bachus, Republican from Alabama, interrupted fellow members of the Committee who attempted to probe the size or specifics of the losses. The impression was that a deal had been made with JPMorgan’s lawyers that these subjects would be quickly shot down by the Chair. The House Financial Services committee also heard from the siloed regulators … Continue reading
JPMorgan To Provide Details of Second Quarter CIO Losses on July 13
JPMorgan Chase & Co. will present a review of second quarter results and an update on its losses in its Chief Investment Office on July 13 at 7:30 a.m. (Eastern). The presentation, including a question and answer session, are expected to conclude at approximately 9:30 a.m. (Eastern). The general public can access the conference call via the following numbers: (866) 541-2724 or (877) 368-8360 in the U.S. and Canada; (706) 634-7246 for international callers. Callers are requested to dial in 10 minutes prior to the start of the call. The live audio webcast and presentation slides will be available at www.jpmorganchase.com under Investor Relations/Investor Presentations.
SEC Releases Tomorrow’s Testimony on JPMorgan Losses
By Pam Martens: June 18, 2012 Mary Schapiro, Chair of the Securities and Exchange Commission, has released her written statement for tomorrow’s hearing before the House Financial Services Committee regarding JPMorgan Chase’s losses. Based on the text, a number of problematic areas may arise for Chairman and CEO, Jamie Dimon, who signed off on the firm’s first quarter financial filings with the SEC: Was there adequate disclosure of the credit default insurance sold to hedge funds and the ensuing income the firm was receiving from this high risk source; Was the potential for losses on all synthetic credit products adequately described; Did the firm properly detail the collateral calls that could arise on these synthetic credit derivatives. Why wasn’t the change to the VAR (Value at Risk) disclosed to investors? Read the full text of the statement here.
U.S. Chamber of Commerce Frets About JPMorgan Hearing Tomorrow
By Pam Martens: June 18, 2012 You didn’t really think the ubiquitous U.S. Chamber of Commerce would stay quiet for long regarding the JPMorgan Chase fracas on Capital Hill did you? They’ve got a post up today at their blog comparing JPMorgan’s Chief Investment Office to getting hit by a bus. While that’s exactly what it has felt like to shareholders who have lost a quarter of their investment in the stock since Bloomberg News first started reporting on the problem on April 5, the Chamber actually attempts to twist the bus analogy into an argument for giving JPMorgan a free hand to blow up depositors’ money as it sees fit. One suspects that someone connected to JPMorgan has asked the Chamber to trumpet a warning to frisky Congressmen on the House Financial Services Committee who will be probing Jamie Dimon, Chairman and CEO of JPMorgan Chase, tomorrow. After the … Continue reading
JPMorgan: If This Is a Financial Fortress, Run for the Bunkers
By Pam Martens, June 6, 2012 The U.S. Senate Banking Committee spent over two hours on Wednesday proving to the American people that any shred of confidence they might still have in our financial markets is misplaced. Just as with the six recent hearings on the collapse of MF Global and its $1.6 billion of missing customer funds, five different regulators could not, or would not, reveal anything useful to the American people on how JPMorgan, the largest bank by assets in the U.S., was permitted to blow up billions in depositor funds in an outpost in London. Thomas Curry, head of the Office of the Comptroller of the Currency (OCC) since April 9 of this year, did confirm one important detail during the hearing: the reckless derivative trading at JPMorgan’s London office occurred in a unit of the national bank (not the broker-dealer), using insured deposits of bank customers, … Continue reading
Occupy Wall Street Groups Demand Investigation of JPMorgan’s Jamie Dimon
By Pam Martens: June 4, 2012 Occupy the SEC and Occupy Wall Street’s Alternative Banking Working Group are asking the SEC to investigate Jamie Dimon, Chairman and CEO of JPMorgan Chase, and make a criminal referral to the U.S. Department of Justice, if appropriate. This Wednesday, June 6th, at 5:30 p.m. EST, the two groups will march from Liberty Plaza to the offices of JPMorgan Chase, the Federal Reserve Bank of New York and on to the Securities and Exchange Commission’s New York City office for a teach-in. The groups issued a statement, that read: “We are marching on June 6th because that date marks the 78th anniversary of the founding of the SEC in 1934. The SEC was created to enforce two basic principles: 1) public companies offering securities to investors must tell the truth about their business, the securities, and the risks involved in investing. 2) people who … Continue reading
Is a Whistleblower Involved in the FBI’s Criminal Probe of JPMorgan Chase?
By Pam Martens: May 18, 2012 On May 16, the U.S. Senate Judiciary Committee convened a hearing on “Oversight of the Federal Bureau of Investigation.” The hearing came less than a week after JPMorgan Chase announced it had lost at least $2 billion of insured deposits in a so-called hedging strategy it has yet to define. (According to media reports today, that loss is now dramatically larger.) Senator Richard Blumenthal is a member of the Judiciary Committee with an impressive resume as a former prosecutor, serving five terms as Connecticut’s Attorney General as well as a former U.S. Attorney for Connecticut. When Senator Blumenthal’s turn came to question FBI Director Robert Mueller, the dialogue went as follows: Senator Blumenthal: “I would like to ask first about the JPMorgan Chase investigation. Can you tell us what potential crimes could be under investigation, without asking you to conclude anything or talk about … Continue reading
Congressman Andy Barr Stacks a Hearing on the Fed’s Stress Tests with Lobbyists for Megabanks
![Congressman Andy Barr](https://wallstreetonparade.com/wp-content/uploads/2024/06/Congressman-Andy-Barr.jpg)
By Pam Martens and Russ Martens: June 27, 2024 ~ Yesterday the House Financial Institutions and Monetary Policy Subcommittee held a hearing titled “Stress Testing: What’s Inside the Black Box?” The hearing was convened to examine the manner in which the Federal Reserve conducts its stress tests of the megabanks. The witnesses called to testify included the following: an employee of the Financial Services Forum, a registered lobbyist for banks; an employee of the Bank Policy Institute, a registered lobbyist for banks; Jonathan Gould, a lawyer from Jones Day, whose clients are banks; and one lonely soul, Greg Feldberg, Research Director of the Yale Program on Financial Stability, who was the only credible voice on the witness panel. The Chair of this Subcommittee is Andy Barr, a Republican from Kentucky whose largest four campaign donors are the following: employees of the Wall Street private equity firms Apollo Global Management and Blackstone … Continue reading
The Fed Posts Historic Operating Losses As It Pays Out 5.40 Percent Interest to Banks
![Federal Reserve Building in Washington, D.C.](https://wallstreetonparade.com/wp-content/uploads/2019/08/Federal-Reserve-Building-in-Washington-D.C..jpg)
By Pam Martens and Russ Martens: June 26, 2024 ~ According to Federal Reserve data, for the first time in its history, the Fed has been losing money on a consistent monthly basis since September 28, 2022. As of the last reporting date of June 19, 2024, those losses add up to a cumulative $176 billion. As the chart above using Fed data shows, the losses thus far in 2024 have ranged from a monthly high of $11.076 billion in February to a low of $5.674 billion in May. These losses are separate and distinct from the unrealized losses the Fed is experiencing on the debt securities it holds on its balance sheet. It does not mark those losses to market since it intends to hold the securities to maturity and their principal is guaranteed at maturity by the U.S. government. The losses shown in the above chart are actual cash … Continue reading
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?
![](https://wallstreetonparade.com/wp-content/uploads/2019/04/Goldman-Sachs-Top-Derivative-Counterparties-Exposure-June-2008-iii-1-150x105.jpg)
By Pam Martens and Russ Martens: June 25, 2024 ~ Last Friday, Goldman Sachs Bank USA, the federally-insured, U.S. taxpayer-backstopped commercial bank that the international trading behemoth, Goldman Sachs Group, is allowed to operate, got a smackdown from two of its regulators, the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board (the Fed). The two regulators released a letter they had sent to David Solomon, Chairman and CEO of Goldman Sachs Group, which revealed that the commercial bank had flunked its wind-down test known as its “living will.” Derivatives were specifically cited for the “shortcomings.” Of particular note, the regulators wrote that Goldman Sachs Bank USA “…did not demonstrate the ability to model its derivatives portfolio unwind by counterparty for segmenting the portfolio in resolution. In the [upcoming] 2025 Plan, the Covered Company should demonstrate the ability to view derivatives positions at a counterparty level within both the portfolio … Continue reading