-
Recent Posts
- Half of All Deaths from Hurricane Helene Occurred 485 Miles North of Where It Made Landfall
- What Did Madoff, Jeffrey Epstein and Sanctioned Russian Mercenary Group, Wagner, Have in Common? They All Banked at JPMorgan Chase
- Deadly, Exploding Pagers Force the U.S. to Get Serious About Malware from China in U.S. Products that Are Potential National Security Threats
- Wall Street Has Moved Vast Sums of Its Trading to Its Federally-Insured Banks
- The Stock Market Had a Psychotic Episode After the Fed Rate Cut Yesterday, Plunging 479 Points from the Day’s High
- As Trump Launches a Crypto Firm, FBI Reports Crypto Fraud Has Exploded to $5.6 Billion; Representing Almost 50 Percent of All Financial Fraud
- Everything this Book Predicted on Wall Street Megabanks Ruling their Regulators Is Now Unfolding
- The Fed Just Kicked the Capital Increases for the Dangerous Megabanks and their Derivatives Down the Road for Years
- Intel, Boeing and U.S. Steel May Hold the Secrets to What’s Behind All the Talk of a U.S. Sovereign Wealth Fund
- Trump and Paulson’s Proposal: U.S. Sovereign Wealth Fund (or Another Grifter Bailout)
- A Wall Street Regulator Is Understating Margin Debt by More than $4 Trillion – Because It’s Not Counting Giant Banks Making Margin Loans to Hedge Funds
- After JPMorgan Threatens to Sue, the Fed Cuts Its Capital Requirement on the 5-Count Felon from a Planned 25 Percent Hike to Less than 8 Percent
- Three Megabanks Had Loans Outstanding of $1.832 Trillion to Giant Hedge Funds on March 31
- 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
Search Results for: Federal Reserve
On March 31, the Fed Has to Name Names under Four of its Emergency Loan Programs to Wall Street. Will the Media Censor that News Also?
By Pam Martens and Russ Martens: January 10, 2022 ~ The Fed has kept a very tight lid on the names of the banks that received emergency loans from three of its funding facilities that it abruptly launched in mid March 2020. These are not only the most opaque of the Fed’s “official” bailout programs, set up under Section 13(3) of the Federal Reserve Act, but they are also the first three 13(3) emergency lending programs that the Fed launched in 2020. The Primary Dealer Credit Facility (PDCF) and Commercial Paper Funding Facility (CPFF) were both announced by the Fed on March 17, 2020. The Money Market Mutual Fund Liquidity Facility (MMLF) was announced the very next day. The legal deadline, under the 2010 Dodd-Frank Act, for releasing the names of the Wall Street firms that borrowed from these facilities, and the amounts borrowed, is March 31 of this year. In … Continue reading
Wall Street Banks Have an Alibi for their $11.23 Trillion in Emergency Repo Loans from the Fed – It’s a Doozy
By Pam Martens and Russ Martens: January 6, 2022 ~ From September 17, 2019 through July 2, 2020, the trading units of the Wall Street megabanks (both domestic and foreign) took a cumulative total of $11.23 trillion in emergency repo loans from the Federal Reserve. The loans were conducted by one of the 12 regional Fed banks, the Federal Reserve Bank of New York – which is literally owned by megabanks, including JPMorgan Chase, Goldman Sachs, Citigroup, Morgan Stanley and others. The New York Fed is also responsible for sending its bank examiners into these same banks to make sure they aren’t plotting some evil scheme that will bring down the U.S. economy, as they did with their derivatives and subprime debt bombs in 2008. Unfortunately, if a New York Fed bank examiner doesn’t listen to the “relationship managers” at the New York Fed, and insists on giving a negative review … Continue reading
Redditors Raged Against the News Blackout of the Fed’s Bailout – Then All Hell Broke Loose When They Learned the Wall Street Banks Literally Own the New York Fed
By Pam Martens: January 4, 2022 ~ We were attempting to hold the Fed, Big Media, and the Wall Street megabanks accountable with our article yesterday on mainstream media’s news blackout of the Fed’s release of the names of the Wall Street trading houses that got $4.5 trillion in cumulative repo loans from the Fed in the last quarter of 2019 – long before the first case of COVID-19 was reported in the U.S. on January 20, 2020. (The full tally came to $11.23 trillion in cumulative repo loans from September 17, 2019 through July 2, 2020.) But when a Reddit group that calls itself “Superstonk” spotted our article and posted it in their comment section, our website got caught in the crosshairs. The traffic to our article was so heavy at times that our website couldn’t be accessed from either a laptop or a cell phone. Here’s the timeline of … Continue reading
There’s a News Blackout on the Fed’s Naming of the Banks that Got Its Emergency Repo Loans; Some Journalists Appear to Be Under Gag Orders
By Pam Martens and Russ Martens: January 3, 2022 ~ Four days ago, the Federal Reserve released the names of the banks that had received $4.5 trillion in cumulative loans in the last quarter of 2019 under its emergency repo loan operations for a liquidity crisis that has yet to be credibly explained. Among the largest borrowers were JPMorgan Chase, Goldman Sachs and Citigroup, three of the Wall Street banks that were at the center of the subprime and derivatives crisis in 2008 that brought down the U.S. economy. That’s blockbuster news. But as of 7 a.m. this morning, not one major business media outlet has reported the details of the Fed’s big reveal. On September 17, 2019, the Fed began making trillions of dollars a month in emergency repo loans to 24 trading houses on Wall Street. The Fed released on a daily basis the dollar amounts it was loaning, … Continue reading
By Pancaking Term Loans, JPMorgan Had $30 Billion Outstanding from the Fed’s Emergency Repo Loans in the Last Quarter of 2019
By Pam Martens and Russ Martens: December 31, 2021 ~ Jamie Dimon, Chairman and CEO of JPMorgan Chase, likes to perpetually brag about his bank’s “fortress balance sheet.” But in the fall of 2019, that fortress needed to borrow huge sums of money from the Federal Reserve – for still unexplained reasons. The trading units of other Wall Street banks also borrowed large sums from the Fed but they haven’t branded themselves as the “fortress balance sheet.” Yesterday, the Federal Reserve Bank of New York released the names of the banks and the dollar amounts that were borrowed under its emergency repo loan operations for the last quarter of 2019. It had previously released the data for the period of September 17, 2019 through September 30, 2019. The Fed has yet to release the data for the emergency repo loan operations in 2020. Repo loans, short for repurchase agreements, are supposed … Continue reading
The Fed Is About to Reveal Which Wall Street Banks Needed $4.5 Trillion in Repo Loans in Q4 2019
By Pam Martens and Russ Martens: December 29, 2021 ~ The conventional wisdom is that the Fed’s recent emergency lending facilities to Wall Street were caused by the COVID-19 crisis. The above chart, which uses the New York Fed’s own Excel spreadsheet repo loan data, shows the conventional wisdom is dangerously wrong. In the last quarter of 2019 – before there was any news of COVID-19 in the U.S., and months before the World Health Organization declared COVID-19 a pandemic – the Fed pumped $4.5 trillion in cumulative repo loans to unnamed trading houses on Wall Street – its so-called “primary dealers.” The collateral that the Fed accepted for the cumulative $4.5 trillion in loans consisted of $3.497 trillion in U.S. Treasury securities; $988.3 billion in agency Mortgage-Backed Securities (MBS); and $15.839 billion in agency debt. The Fed’s emergency repo loan operations began on September 17, 2019. From September 17, 2019 … Continue reading
Congresswoman Maxine Waters Steps into the Ring as Referee in the Battle for Control of the FDIC
By Pam Martens and Russ Martens: December 27, 2021 ~ Maxine Waters is the Chair of the House Financial Services Committee. That Committee oversees the nation’s banks, including the megabanks on Wall Street that are serially charged by prosecutors with ever creative ways of looting the public. Waters’ Committee also oversees the bank regulators, which are frequently “captured” by Wall Street. One of those bank regulators has now come into the cross hairs of Waters. Typically, if one is a captured bank regulator, one goes to extreme lengths to hide that fact. Thus, it is unusual that the Chair of the Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams (a Trump holdover), has decided she has the power to run the federal agency with an iron hand and overturn the will of her Board of Directors. Even more unusual, McWilliams is engaging in this battle with her Board in public. We’ve seen … Continue reading
Dallas Fed, Home to the Largest Trading Scandal in Fed History, Quietly Runs a Help-Wanted Ad for a New General Counsel and Ethics Officer
By Pam Martens and Russ Martens: December 24, 2021 ~ The Dallas Fed has not publicly announced the retirement or dismissal of its General Counsel, Sharon Sweeney. And yet, it is currently running a help-wanted ad to replace her. Sweeney is still listed as General Counsel on the Dallas Fed’s website. We placed a call to the bank’s media contact this morning to clarify the details and left a message. We’ll update this article if we receive further information. Sweeney has been with the Dallas Fed for the past 36 years. She doubles as the Dallas Fed’s Ethics Officer and put her signature to former Dallas Fed President Robert Kaplan’s outrageous financial disclosure forms, year after year. Those forms indicated that Kaplan was trading in and out of S&P 500 futures contracts in “over $1 million” trades – even in 2020 when he sat as a voting member of the Fed’s … Continue reading
The Fed Gets Its Ducks in a Row for the Next Wall Street Bailout; Quietly Adds Goldman Sachs Bank, Citibank to Its New $500 Billion Standing Repo Facility
By Pam Martens and Russ Martens: December 21, 2021 ~ Last Friday, with the public’s attention diverted to the surge in Omicron variant cases of COVID in the U.S. and holiday travelers’ attention focused on the safety of air travel and family gatherings, the Federal Reserve Bank of New York quietly announced, in a one sentence statement, that it was adding the following three federally-insured banks to its list of counterparties for its newly-minted $500 billion Standing Repo Facility: Citibank, Goldman Sachs Bank USA, and the New York Branch of Mizuho Bank. If you’re stunned that Goldman Sachs is allowed to own a federally-insured bank under existing U.S. law, see our previous report: Goldman Sachs’ Rich Man’s Bank Backstopped by You and Me. If you’re stunned that a New York branch of Mizuho Bank, part of the Japanese conglomerate Mizuho Financial Group, is able to have federal deposit insurance backstopped by … Continue reading
The Senate Banking Committee Has Subpoena Power; So Why Has Senator Elizabeth Warren Been Left to Investigate on Her Own?
By Pam Martens and Russ Martens: December 13, 2021 ~ For years now, Wall Street On Parade has been reporting on the probing letters that Senator Elizabeth Warren (D-MA) has sent to Wall Street firms and their regulators in an effort to ferret out the details of systemic corruption and the looting of the American people. (See “Related Articles” below.) Throughout this letter writing campaign, Senator Elizabeth Warren has been a member of the powerful Senate Banking Committee – which has subpoena power. The new Chair of that Committee, Senator Sherrod Brown (D-OH), is also a progressive, like Warren. So why isn’t the Senate Banking Committee using its subpoena power instead of leaving Warren with nothing more than an inquiring mind and a pile of Word documents? According to the Congressional Research Service, the Senate Banking Committee has adopted a rule that requires a majority vote to issue a subpoena for … Continue reading