-
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
Almost 10,000 U.S. Banks Have Disappeared Since 1985, Leaving 4 Mega Banks Controlling 39 Percent of Bank Assets
![Taming the Megabanks](https://wallstreetonparade.com/wp-content/uploads/2020/10/Taming-the-Megabanks-iii.png)
By Pam Martens and Russ Martens: March 26, 2024 ~ According to Federal Deposit Insurance Corporation (FDIC) data, there were 14,417 federally-insured banking institutions in the U.S. in 1985. As of December 31, 2023, the FDIC reports there are only 4,587 remaining. The vast majority of the 9,830 banks that have disappeared since 1985 did not fail – they were merged with other banks. Today, just four banks control $9.3 trillion in consolidated bank assets or 39 percent of all bank assets. Those four banks are JPMorgan Chase with $3.395 trillion in consolidated assets; Bank of America with $2.540 trillion; Wells Fargo with $1.7 trillion; and Citigroup’s Citibank with $1.685 trillion. (All asset figures are as of December 31, 2023 and come from the Federal Reserve’s statistical release of the largest banks.) The political clout of these mega banks is such that one of them, JPMorgan Chase, has been allowed to commit … Continue reading
During Spring Bank Panic of 2023, Liquidity Advances from FHLBs Topped Those of Q4 2008, when Wall Street Was in Collapse
![](https://wallstreetonparade.com/wp-content/uploads/2024/03/FHLB-Advances-Thumbnail.jpg)
By Pam Martens and Russ Martens: March 19, 2024 ~ According to data from the Federal Deposit Insurance Corporation, and using a graph from the St. Louis Fed above, the liquidity crisis among banks in the spring of last year was far more dramatic than has been acknowledged by banking regulators. According to the data, during the worst financial crisis since the Great Depression (at the end of the fourth quarter of 2008 when Wall Street was in a state of collapse), banks had borrowed a total of $790 billion in advances from Federal Home Loan Banks (FHLBs). But during the bank panic in the spring of last year, those FHLB advances topped the Q4 2008 number, registering $804 billion as of March 31, 2023. According to data from the Congressional Budget Office, at the end of the quarter before the banking panic of 2023 (the quarter ending December 31, 2022) … Continue reading
Wall Street Mega Banks Have Drawn a Law-Free Zone Around Themselves – The Media Is Complicit
![](https://wallstreetonparade.com/wp-content/uploads/2018/08/wall-street-sign-thumbnail-150x149.jpg)
By Pam Martens: March 13, 2024 ~ From revoking the American people’s right to a jury trial in matters involving Wall Street; to brazenly thumbing their nose at anti-trust law; to trading the stock of their own bank in the darkness of their own dark pools; to forming their own stock exchange; to committing serial felonies without being criminally prosecuted or having their bank charters revoked – Wall Street mega banks have drawn a law-free zone around themselves and are more dangerous today than they have ever been in U.S. history. The most dangerous eras for the American people versus Wall Street mega banks have been the late 1920s and 1930s; 2007 to 2010; and today. We know that today is the most dangerous era because we read 12,000 pages produced by the Senate Banking Committee of the early 1930s on the Wall Street corruption in the late 20s and 30s; we … Continue reading
Steve Mnuchin, Trump’s Treasury Secretary/Foreclosure Kingpin, Joins with Hedge Fund Guys to Grab a Teetering, Federally-Insured Bank for $2 a Share
![](https://wallstreetonparade.com/wp-content/uploads/2020/11/Steve-Mnuchin-and-Wife-Louise-Linton.jpg)
By Pam Martens and Russ Martens: March 7, 2024 ~ Former Trump Treasury Secretary, Steve Mnuchin, has teamed up with his pals from his days as a foreclosure kingpin at OneWest and assorted hedge funds/private equity guys, to pull a coup d’etat at the teetering New York Community Bancorp (NYCB), parent of Flagstar Bank. A press release from NYCB yesterday confirmed that Mnuchin and his pals would be injecting $1 billion in equity at a purchase price of $2 a share for NYCB, massively diluting existing shareholders whose share price on the last trading day of last year was $10.23. (For why shares of NYCB have been in free fall this year, see our report on Tuesday: 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.) Buttressing Mnuchin’s audacity, he will put himself and three of … Continue reading
Wall Street Mega Banks Have Created a Circular Firing Squad with Credit Derivatives and Capital Relief Trades – with the Fed’s Blessing
![](https://wallstreetonparade.com/wp-content/uploads/2019/08/Jamie-Dimon-is-in-another-Whale-of-a-mess-iii.jpg)
By Pam Martens and Russ Martens: March 6, 2024 ~ On June 11, 2015, the Office of Financial Research (OFR) released a sobering report on how banks were reducing their requirements to hold adequate capital against potential losses by engaging in non-transparent “capital relief trades” with potentially questionable counterparties. The OFR researchers summarized the problem as follows: “Capital relief transactions may have benefits to banks. But, even if real risk transfer is involved, these transactions can pose financial stability concerns by increasing interconnectedness, transforming credit risk into counterparty risk, and obscuring capital adequacy to investors and counterparties. And while bank supervisors have extensive data about banks, they may have less information about the nonbanks who are selling credit risk to those banks and ultimately bearing the risk of loss.” The Office of Financial Research was created under the Dodd-Frank financial reform legislation of 2010 to make sure that Wall Street mega banks … Continue reading
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
![Frightened Wall Street Trader](https://wallstreetonparade.com/wp-content/uploads/2020/03/Frightened-Wall-Street-Trader-150x133.jpg)
By Pam Martens and Russ Martens: March 4, 2024 ~ The widely respected banking and Wall Street watchdog, Better Markets, has a new report out on the latest teetering bank holding company, New York Community Bancorp (ticker NYCB). The title of the well-researched report pretty much says it all: “A Frankenstein Monster Federal Regulators Created.” NYCB has lost 65 percent of its stock market value year-to-date and was downgraded to a junk credit rating by Moody’s after the stock market closed on February 6. Moody’s wrote in its downgrade that a third of the bank’s deposits lack FDIC insurance. NYCB’s rapid share price descent began on January 31 when the bank filed an 8K form with the SEC indicating a $260 million net income loss in the fourth quarter; a dividend cut from 17 cents to 5 cents; and a $552 million provision for credit losses on commercial real estate – an area of … Continue reading
The Fed Pretends to Send a Warning to Wall Street’s Mega Banks on Derivatives and Counterparty Risk
![Taming the Megabanks](https://wallstreetonparade.com/wp-content/uploads/2020/10/Taming-the-Megabanks-iii.png)
By Pam Martens and Russ Martens: February 29, 2024 ~ On Tuesday, the Vice Chair for Supervision at the Federal Reserve, Michael Barr, delivered a speech at a risk management conference in Manhattan. Barr’s objective was to convince conference attendees that the Fed has its eye on the ball when it comes to Wall Street mega banks and their counterparties who are sitting on the opposite sides of derivative trades totaling tens of trillions of dollars. (Yes, trillions.) The most illuminating and dangerous elements of Barr’s speech are what he didn’t say. To remind attendees of what could happen if counterparty risks were not managed properly, Barr cited Long Term Capital Management (LTCM) and Archegos Capital Management. LTCM was a hedge fund stocked with the so-called “smartest men in the room,” including two Nobel laureates, who fed mathematical formulas into computers that generated trades using astronomical levels of leverage. Of course, this … Continue reading
Jamie Dimon Is Desperate to Pin the Jeffrey Epstein Scandal on Jes Staley; Bloomberg News Is Carrying His Water — Again
![Jeffrey Epstein (left); Jamie Dimon (right).](https://wallstreetonparade.com/wp-content/uploads/2023/04/Jeffrey-Epstein-lelft-Jamie-Dimon-right..jpg)
By Pam Martens and Russ Martens: February 16, 2024 ~ After hurling salacious allegations for months against Jes Staley in a federal lawsuit JPMorgan Chase had brought against its former executive, the bank decided last September to quietly settle the case without disclosing the terms. The bank sued Staley after it had been sued by victims of sex trafficker Jeffrey Epstein and after it had been sued in a separate lawsuit by the Attorney General of the U.S. Virgin Islands, where Epstein owned a private island compound that was a frequent venue of Epstein’s sex trafficking of minors. Lawyers for the U.S. Virgin Islands charged that JPMorgan Chase had “actively participated in Epstein’s sex-trafficking venture from 2006 until 2019.” (Both cases were settled last year by the bank, with it paying a whopping $290 million to the victims and $75 million to the U.S. Virgin Islands.) The bank’s lawsuit against Staley appeared … Continue reading
Five Wall Street Banks Hold $223 Trillion in Derivatives — 83 Percent of All Derivatives at 4,600 Banks
![](https://wallstreetonparade.com/wp-content/uploads/2023/11/Anti-Lobbyist-Protestors.jpg)
By Pam Martens and Russ Martens: February 13, 2024 ~ According to the Financial Crisis Inquiry Commission (FCIC), derivatives played a major role in the financial crash of 2007 to 2010 in the United States, the worst financial crisis in the U.S. since the Great Depression of the 1930s. The FCIC wrote in its final report: “…the existence of millions of derivatives contracts of all types between systemically important financial institutions — unseen and unknown in this unregulated market — added to uncertainty and escalated panic….” Americans believed that the Dodd-Frank financial reform legislation of 2010 would fulfill its promise of reining in concentrated risks like derivatives. It did not. (See our report from 2015: President Has His Facts Seriously Wrong on Financial Reform.) According to data from the Office of the Comptroller of the Currency (OCC), the regulator of national banks, as of March 31, 2009, five bank holding companies held … Continue reading
Jamie Dimon’s Statement Last Month that Trump “Was Kind of Right About NATO,” Sounds Even More Unhinged Today
![Jamie Dimon Being Sworn In at House Financial Services Committee Hearing, May 27, 2021](https://wallstreetonparade.com/wp-content/uploads/2021/05/Jamie-Dimon-Being-Sworn-In-at-House-Financial-Services-Committee-Hearing-May-27-2021-iii.jpg)
By Pam Martens and Russ Martens: February 12, 2024 ~ On January 17 of this year, during a CNBC interview during the World Economic Forum in Davos, the Chairman and CEO of JPMorgan Chase, Jamie Dimon, made the unhinged remark that Donald Trump “was kind of right about NATO.” A New York Times article from January 14, 2019 outlined Trump’s position on NATO as follows: “There are few things that President Vladimir V. Putin of Russia desires more than the weakening of NATO, the military alliance among the United States, Europe and Canada that has deterred Soviet and Russian aggression for 70 years. “Last year, President Trump suggested a move tantamount to destroying NATO: the withdrawal of the United States.” This past Saturday, during a campaign stop in South Carolina, Trump recited a prior conversation he said he had had about NATO with a world leader. The video clip of Trump’s remarks was aired yesterday on … Continue reading