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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: dead bankers
New Documents Show How Power Moved to Wall Street, Via the New York Fed
By Pam Martens: December 9, 2013 The Federal Reserve will celebrate its 100th anniversary on December 23 of this year. But the Federal Reserve did not function as the nation’s central bank until 1922 when it fumbled and stumbled its way into an awareness of the power of a centralized mechanism for buying and selling U.S. government securities as a means of carrying out monetary policy. Thanks to a trove of historic documents recently released by the St. Louis Fed, we are now able to see how the New York Fed, a bastion of Wall Street interests, maneuvered itself into control of that process. Incredibly, from its legislative creation in 1913 until 1922, the Federal Reserve had 12 separate “central” banks carrying out monetary policy for their region of the country. Each of the 12 regional Federal Reserve banks was allowed to buy and sell government securities and trade acceptances. … Continue reading
Elizabeth Warren: The System Is Broken
By Pam Martens: November 13, 2013 Four seminal events occurred yesterday which carry dramatic overtones for next year’s midterm elections and the Presidential race in 2016. U.S. Senator Elizabeth Warren delivered a speech warning her Congressional colleagues in strident tones that Wall Street is now more dangerous than it was five years ago when it crashed. Warren, again, called for the restoration of the Glass-Steagall Act to prevent another financial calamity. Gallup released a poll showing the approval rating of Congress had fallen to nine percent, the lowest reading in the 39 years the firm has been asking the question. A Quinnipiac University poll reported President Obama’s popularity has fallen to the lowest point of his presidency, with a majority of Americans, 54 percent, now disapproving of his performance. And, finally, Americans for Financial Reform together with the Roosevelt Institute issued a 126-page report in conjunction with the speech by … Continue reading
As Occupy Protesters Chant F*** the Fed, Few Are Aware the Federal Reserve Has Been Given Domestic Police Powers; With Glock 22s and Patrol Cars
By Pam Martens: September 17, 2012 By mid morning today, as Occupy Wall Street protesters marched around the perimeter of the Federal Reserve Bank of New York, all signs that an FRPD (Federal Reserve Police Department) existed had disappeared. The FRPD patrol cars and law enforcement officers had been replaced by NYPD patrol cars and officers. That decision may have been made to keep from drawing attention to a mushrooming new domestic police force that most Americans do not know exists. Quietly, without fanfare or Congressional hearings, the USA Patriot Act in 2001 bestowed on the 12 privately owned Federal Reserve Banks, domestic policing powers. Section 364 of the Act, “Uniform Protection Authority for Federal Reserve,” reads: “Law enforcement officers designated or authorized by the Board or a reserve bank under paragraph (1) or (2) are authorized while on duty to carry firearms and make arrests without warrants for any offense against the … Continue reading
How the New York Times Hides the Truth About Wall Street’s Catastrophic Misdeeds
By Pam Martens: July 2, 2012 The paper of record is in serious need of a fact checker when it comes to whether the Glass-Steagall Act could have prevented the financial crisis. Promoting ignorance could help sink the financial system – again. Back on April 8, 1998, the New York Times ran a slobbering editorial pushing for the repeal of the Glass-Steagall Act. It sounded like it came straight from Sandy Weill’s public relations flacks. Weill, head of Wall Street brokerage and investment firms Smith Barney and Salomon Brothers, as well as insurance company, Travelers Group, wanted to merge with a large commercial bank, Citicorp, owner of Citibank, and get his speculative hands on that pile of insured deposits. The merger was illegal at the time under the depression era Glass-Steagall Act. The legislation was enacted after the 1929 stock market crash to keep speculative gambling on margin and risky … Continue reading
Muppet Masters of the Universe
By Pam Martens: March 19, 2012 The muppets are in revolt against their masters. No, I don’t mean customers of Wall Street’s big firms. I’m speaking of corporate media muppets. Greg Smith lit a match and now there are smoldering embers dangerously burning at Bloomberg Views and Forbes. Smith is the 33-year old derivatives executive at Goldman, Sachs & Co. who published his blistering resignation letter on the OpEd page of the New York Times. According to Smith, managing directors at Goldman call their clients muppets and openly speak about “ripping their clients off.” Smith said the environment at the firm is “as toxic and destructive as I have ever seen it.” The OpEd was published on Wednesday, March 14, and went viral on the internet. Next came a mesmerizing look at the underbelly of crony capitalism. The Mayor of the city that sent its police in the dead of … Continue reading
Wall Street Titans Use Aliases to Foreclose on Families
By Pam Martens: October 5, 2009 A federal agency tasked with expanding the American dream of home ownership and affordable housing free from discrimination to people of modest means has been quietly moving a chunk of that role to Wall Street since 2002. In a stealth partial privatization, the U.S. Department of Housing and Urban Development (HUD) farmed out its mandate of working with single family homeowners in trouble on their mortgages to the industry most responsible for separating people from their savings and creating an unprecedented wealth gap that renders millions unable to pay those mortgages. This industry also ranks as one of the most storied industries in terms of race discrimination. Rounding out its dubious housing credentials, Wall Street is now on life support courtesy of the public purse known as TARP as a result of issuing trillions of dollars in miss-rated housing bonds and housing-related derivatives, many … Continue reading
Channeling FDR to Explain Today’s Economic Crisis
By Pam Martens: October 31, 2008 The parallels with 1932 are breathtaking: billions in bonds defaulting; dysfunctional global credit markets; commodity prices crumbling; stocks in free fall; home foreclosures; rising unemployment; banks teetering; an angry populace; a Republican administration clinging to their discredited trickle down theory; a Democratic contender for President with charismatic oratory skills tapping into the public mood with a message of a New Deal, this time called “change we can believe in.” To complete the similitude, we need only a landslide victory for the Democrats in the upcoming election with Obama carrying all but six states. It is no coincidence that our problems today are a replay of those of 1932, albeit with a less rapid economic descent because of the safety nets like Social Security and bank deposit insurance put in place by President Franklin Delano Roosevelt’s New Deal programs of the 30s. Each and every … Continue reading
Occupiers — Put Back the Glass-Steagall Wall
By Pam Martens In the Fall of 2009, it was all about the wall: financial bigwigs like former Federal Reserve Chair Paul Volcker, former Citigroup co-CEO John Reed, Governor of the Bank of England, Mervyn King, all espoused reestablishing the legal barrier between the derivatives casino that masquerades today as Wall Street and commercial banks holding insured deposits. It made good sense: the wall goes up in 1933, America becomes the premier financial center for 66 years. The wall comes down in 1999 under the Gramm- Leach- Bliley Act (also known as the Financial Services Modernization Act of 1999) and the financial system collapses exactly 9 years later with the precise characteristics of the massive Wall Street swindles that occurred in the late 1920s when there was also no wall. But thanks to powerful Wall Street lobbyists and industry trade groups, the wall went missing in the final Wall Street reform legislation … Continue reading