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Recent Posts
- 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”
- Gold Has Set Historic Highs this Year as the Federal Reserve Has Reported Historic Losses
- Stanford Finance Professor Anat Admati Is Making Jamie Dimon Very Nervous – Again Calling His Bank “Dangerous”
- Jamie Dimon Dumped $150 Million of His JPMorgan Stock in February; Now He Says His Regulators Want 25 Percent More Capital at his Bank
- The Black Swan Rears Its Head: The Fed Has Negative Capital Using GAAP Accounting
- New York Fed Will Not Confirm or Deny that 5-Count Felon JPMorgan Chase Is Custodian of $2.4 Trillion of Its Securities
- For the First Time in History, the Fed Is Reporting Billions in Losses Weekly; It’s Still Paying High Interest Income to the Mega Banks on Wall Street
- There’s a Revival of the Dotcom-esque Froth in Today’s Markets; Cathie Wood Is Standing in for Henry Blodget and Jack Grubman; Nasdaq Is Playing Nasdaq
- Study Finds Wall Street Mega Banks Have Overstated Income for Years on Commercial Real Estate Loans They Sell to Investors
- Jamie Dimon Huddles in Private with Biden Bigwigs as His Bank Faces More Crime Charges
- Report: Five Banks Have a Combined Half Trillion Dollars in Commercial Real Estate Loans; Number 1 is JPMorgan Chase
- Billionaire Larry Fink of BlackRock, Which Grabbed Fed Bailouts in 2020-2021, Lectures Struggling Seniors on Making More Sacrifices
- Almost 10,000 U.S. Banks Have Disappeared Since 1985, Leaving 4 Mega Banks Controlling 39 Percent of Bank Assets
- Wall Street’s Go-To Law Firm, Sullivan & Cromwell, Got in Bed with Crypto; Now Its Reputation Is Being Hammered
- More Failed Banks and Office Building Demolitions Likely Before Real Estate Problems End, Warn Two Federal Agencies
- During Spring Bank Panic of 2023, Liquidity Advances from FHLBs Topped Those of Q4 2008, when Wall Street Was in Collapse
- JPMorgan’s Federally-Insured Bank Is Fined $348 Million for Losing Track of “Billions” of Trades
- Hedge Fund Titan John Paulson Made $1 Billion in an Illegal Goldman Sachs Deal; Trump Is Now Floating Him for Treasury Secretary
- Wall Street Mega Banks Have Drawn a Law-Free Zone Around Themselves – The Media Is Complicit
- A Financial Writer at New York Times Admits He’s Been Misrepresenting Bank Capital for 14 Years
- FDIC Data Contradicts Fed Chair Powell: Shows Real Estate Problems Have Skyrocketed at Largest U.S. Banks, Not the Smaller Regionals
- Senator Elizabeth Warren Calls Fed Chair Powell “Weak-Kneed”; Says He Is “Driving Efforts Inside the Fed” to Gut Higher Capital Requirements
- Steve Mnuchin, Trump’s Treasury Secretary/Foreclosure Kingpin, Joins with Hedge Fund Guys to Grab a Teetering, Federally-Insured Bank for $2 a Share
- Wall Street Mega Banks Have Created a Circular Firing Squad with Credit Derivatives and Capital Relief Trades – with the Fed’s Blessing
- New York Community Bancorp Was JPMorgan’s Top Regional Bank Pick for 2024; It’s Lost 73 Percent Y-T-D and Had Its Deposit Rating Downgraded to Junk
- Watchdog, Better Markets, Investigates the Bank that Has Lost 65 Percent of Its Market Value in Two Months and Was Downgraded to Junk by Moody’s
- The Fed Pretends to Send a Warning to Wall Street’s Mega Banks on Derivatives and Counterparty Risk
- $87 Million Buys This for Jamie Dimon: David Boies Can’t Utter the Words “JPMorgan Chase” in a Jeffrey Epstein Sex Trafficking Case
- Jamie Dimon and Nine of His Top Executives at JPMorgan Chase Have Dumped Over $150 Million of their JPMorgan Stock in Last Two Months
- These Charts Reveal Why the Fed Is Frightened about Capital Levels at the Wall Street Mega Banks
- Wall Street Law Firm Sullivan & Cromwell Gets Sued Over Allegations It Aided and Abetted the FTX Crypto Fraud
- JPMorgan Says Its “Trading Venues” Are Under Investigation While It’s Still on Probation for Prior Trading Crimes
- Jamie Dimon Is Desperate to Pin the Jeffrey Epstein Scandal on Jes Staley; Bloomberg News Is Carrying His Water — Again
- Citigroup Is Having a Very Bad Week; Regulators Are Breathing Down Its Neck
- Five Wall Street Banks Hold $223 Trillion in Derivatives — 83 Percent of All Derivatives at 4,600 Banks
- Jamie Dimon’s Statement Last Month that Trump “Was Kind of Right About NATO,” Sounds Even More Unhinged Today
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JPMorgan/Jeffrey Epstein Cases Are a Cross Between the Bank’s Chinese Princeling Scandal and Madoff Fraud, Using Sex with Minors as a Bribe
By Pam Martens and Russ Martens: June 20, 2023 ~ The tenure of Jamie Dimon as Chairman and CEO of JPMorgan Chase, the largest federally-insured bank in the United States and the largest trading casino on Wall Street, has copiously revealed the following: the bank is more than willing to look the other way at crime if it means an increase in assets, profits or business referrals. Each of those three ingredients were present in the bank’s decades long involvement with Bernie Madoff, with its Chinese Princeling scandal and in the unfolding details of its intimate relationship with child sex trafficker Jeffrey Epstein. This reality may be difficult for the New York business press to acknowledge – since it has mostly covered Jamie Dimon as the grand statesman of Wall Street – but this is the hard reality nonetheless. Yesterday, the Wall Street Journal’s Khadeeja Safdar and David Benoit revealed the … Continue reading
JPMorgan Is Alleged to Have Used Its Hedge Fund’s Private Jet to Engage in Sex-Trafficking for Jeffrey Epstein
By Pam Martens and Russ Martens: June 19, 2023 ~ At a March 13 court hearing this year, prominent attorney, David Boies, argued in open court that the largest federally-insured bank in the United States, JPMorgan Chase – which has more than 5,000 Chase bank branches holding mom and pop savings from coast to coast – had used a private jet owned by the bank’s hedge fund, Highbridge Capital, to transport girls for Epstein’s sex trafficking operation. A January 13, 2023 amended complaint filed by Boies’ law firm, elaborated on the allegation as follows: “As another example of JP Morgan and [Jes] Staley’s benefit from assisting Epstein, a highly profitable deal for JP Morgan was the Highbridge acquisition. “In 2004, when Epstein’s sex trafficking and abuse operation was running at full speed, Epstein served up another big financial payday for JP Morgan. “Epstein was close friends with Glenn Dubin, the billionaire … Continue reading
72 Hours Before JPMorgan Offered $290 Million to Make Epstein Claims Go Away, a Lawyer Disclosed that the Bank Had Withheld 1500 Documents
By Pam Martens and Russ Martens: June 15, 2023 ~ Sigrid McCawley is a Managing Partner at law firm, Boies Schiller Flexner, which has been representing the sexually assaulted and/or sex-trafficked victims of Jeffrey Epstein for years, including Virginia Roberts Giuffre, who settled claims against Prince Andrew last year for an undisclosed sum of money. Giuffre alleged in her lawsuit that Epstein had trafficked her and forced her to have sex with Prince Andrew when she was just 17. McCawley is also a key lawyer on the case styled as Jane Doe 1 v JPMorgan Chase in the U.S. District Court for the Southern District of New York. That lawsuit alleges that JPMorgan Chase was for years aware that Epstein was a sexual predator of underage girls, kept him as a client nonetheless, and functioned as a cash conduit for his crimes while ignoring anti-money laundering laws. The JPMorgan internal emails … Continue reading
Jamie Dimon’s Deposition in Epstein Case Reveals Email Stating that Dimon Was to Be Treated to “Heavy Snacks” at Epstein’s Home
By Pam Martens and Russ Martens: June 1, 2023 ~ After much delay and legal protests by JPMorgan Chase, its Chairman and CEO, Jamie Dimon, was forced by a Manhattan federal court to testify under oath in a deposition about what he personally knew about the bank’s long-term customer relationship with child sex trafficker Jeffrey Epstein. (Epstein died in a Manhattan jail on August 10, 2019. His death was ruled a suicide by the medical examiner.) The deposition was held last Friday, May 26, at the offices of JPMorgan Chase in Manhattan. In a surprise move, opposing counsels agreed yesterday to release the transcript of the deposition, with some segments marked as sensitive and redacted. The deposition arose as a result of two lawsuits being heard by Judge Jed Rakoff in the U.S. District Court for the Southern District of New York. One lawsuit is on behalf of an alleged sexual … Continue reading
JPMorgan Chase and Jeffrey Epstein Were Both Involved in a Strange Offshore Company Called Liquid Funding
By Pam Martens and Russ Martens: May 24, 2023 ~ This Friday and Saturday, JPMorgan Chase’s Chairman and CEO, Jamie Dimon, is scheduled to sit for some very uncomfortable questioning in a deposition concerning what role he played in allowing his bank to serve as a vast cash conduit for Jeffrey Epstein, which enabled Epstein to perpetuate his sex trafficking of underage girls. The Attorney General’s office of the U.S. Virgin Islands (USVI) has filed a federal lawsuit against JPMorgan Chase that makes devastating charges against the largest bank in the United States. It alleges that JPMorgan Chase sat on a mountain of evidence that Jeffrey Epstein was running a child sex trafficking ring as it continued to keep him as a client; accept his lucrative referrals of wealthy clients; and provided him with large sums of cash and wire transfers to pay off victims – one of whom was a “14-year old … Continue reading
Powell and Yellen Say the Banking System Is Sound as Another Global Bank Teeters
By Pam Martens and Russ Martens: March 24, 2023 ~ The reassurances of Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Janet Yellen that the U.S. banking system is sound, stand in sharp contrast to what is happening in markets. This week, the shorts have found another easy new global bank target to try to take down after making a bundle of money betting against Credit Suisse, which was taken over for 82 cents a share on Sunday by its Swiss competitor, UBS. This time the global banking target is Deutsche Bank, a global behemoth we have warned about ad nauseum here at Wall Street On Parade. Deutsche Bank was a $120 dollar stock prior to the financial crisis in 2008. It closed yesterday at $9.65 in New York and is down another 10 percent in early morning trading in Europe. The weakness in Deutsche Bank is spilling over into … Continue reading
Jamie Dimon Is Fighting a Deposition in a Devastating Lawsuit Charging JPMorgan With Being the Cash Conduit for Jeffrey Epstein’s Sex Crimes
By Pam Martens and Russ Martens: March 6, 2023 ~ The Attorney General’s office of the U.S. Virgin Islands (USVI) has filed a First Amended Complaint against JPMorgan Chase that has less redactions than an earlier version. The complaint makes devastating and detailed charges. It charges that the bank sat on a pile of evidence that Jeffrey Epstein was running a child sex trafficking ring as it continued to keep him as a client; accept his lucrative referrals of wealthy clients; and provided him with large sums of cash and wire transfers to pay off victims – one of whom was a “14-year old sex slave.” Attorneys for the bank are now resisting allowing Chairman and CEO Jamie Dimon from being deposed under oath in the matter as to what he knew and when he knew it. The case is USVI v JPMorgan Chase Bank N.A. (22-cv-10904) in U.S. District Court … Continue reading
JPMorgan Chase Hit with Lawsuit for Facilitating Jeffrey Epstein’s Crime Network; Similar Charges Were Brought Against It for Facilitating Madoff’s Ponzi Scheme
By Pam Martens and Russ Martens: January 9, 2023 ~ Making headlines around the world last week was the news that the Attorney General of the U.S. Virgin Islands, Denise George, was fired just days after she filed a federal lawsuit against JPMorgan Chase, charging it with facilitating the sex trafficking of children by Jeffrey Epstein. George was fired by the Governor of the Virgin Islands, Albert Bryan Jr. Unfortunately, those headlines and the mainstream news articles that accompanied them, fail to capture the worst parts of this story, which includes the following: the 30-page lawsuit filed by Attorney General George on December 27 in the Federal District Court for the Southern District of New York includes a “Sealed Document Placed in Vault” according to the Docket Sheet in the case; after the paragraph headlined as “JP Morgan Ignored Obvious Red Flags Relating to Epstein’s Accounts,” large segments of the lawsuit … Continue reading
One Man Has Set Up a $1.6 Billion Slush Fund to Fuel the Radical Right’s Takeover of Congress; Get Ready for a Dirty Tricks Campaign
By Pam Martens and Russ Martens: August 26, 2022 ~ The New York Times dropped a political bombshell on Monday. The public interest website, ProPublica, built further on the story that afternoon. And, as luck would have it, Wall Street On Parade finds itself in the unique position of filling in missing pieces of the story thanks to an investigative report we published in 2010. The gist of the story is this: a sketchy billionaire named Barre Seid decided last year to donate his electronics manufacturing company, Tripp Lite, to a nonprofit tied to the radical right called Marble Freedom Trust. After the transfer of ownership to the nonprofit, Tripp Lite was then sold to the Dublin, Ireland based power management company, Eaton, thus avoiding capital gains taxes on the sale. This handed the nonprofit a cool $1.65 billion in tax free money from the sale of the business. In other … Continue reading
Deutsche Bank and JPMorgan Chase Have Been Trading Like Clones for Two Months; Both Are Down Almost 30 Percent Year-to-Date
By Pam Martens and Russ Martens: June 30, 2022 ~ JPMorgan Chase’s stock has lost 27 percent of its market value year-to-date through its June 29 closing price. But more disturbing than that is the above chart showing that the behemoth German lender, Deutsche Bank, has been trading like a clone of JPMorgan Chase for the past two months. Deutsche Bank’s stock price is down just one percentage point more than JPMorgan Chase year-to-date. JPMorgan Chase is the largest federally-insured bank in the United States. Looking like one is tied with an umbilical cord to Deutsche Bank has its perils on Wall Street. Let’s start with the raids on the Deutsche Bank’s headquarters, two of which coincided with dead bodies turning up. On November 29, 2018, Deutsche Bank’s headquarters in Germany were raided by 170 members of law enforcement. Prosecutors explained the action by stating that “Deutsche Bank helped customers found … Continue reading