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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
Wall Street On Parade’s Ongoing, Comprehensive Series On the Trading Scandal at the Federal Reserve October 24, 2022: The Fed’s Trading Scandal Broadens into a Scandal with the Mega Banks It “Regulates” October 17, 2022: Atlanta Fed President Bought Low and Sold High in 2020 as the Fed Bailed Out Wall Street; Then He Failed to Report those Trades September 6, 2022: Former Dallas Fed President Robert Kaplan’s Trading Scandal and the Merrick Garland Justice Department’s One Year of Silence July 15, 2022: The Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, One Day After Five Senators Accuse Him of Hampering the Investigation July 14, 2022: Senators on Senate Banking Committee Accuse Fed Chair Powell of Hampering Trading Scandal Investigation April 21, 2022: It’s Been More than Seven Months and Still No Investigative Findings on the Fed’s Trading Scandal April 20, 2022: Biden Has Nominated a Man from … Continue reading
Senator Pat Toomey Launches a Red-Scare Campaign Against Biden’s Nominee to Head a Top Wall Street Bank Regulator
By Pam Martens and Russ Martens: October 7, 2021 ~ Yesterday, at 4:19 in the afternoon, Wall Street On Parade received an email from the nice communications folks at the Senate Banking Committee, which is chaired by Senator Sherrod Brown of Ohio, a progressive Democrat who has had about all he can stand of the robber barons on Wall Street. The ranking member of the Senate Banking Committee, who was supposed to become the Chair of the Committee in a Trump coup d’état, is Republican Pat Toomey of Pennsylvania, who has been serially funded and backed by Koch-funded front groups. Koch Industries owns a big trading operation, so it is very much vested in what happens in terms of stricter regulations for Wall Street. (For the role of Koch money in the insurrection at the Capitol on January 6, see our report: The Money Trail to the Siege at the Capitol Leads … Continue reading
Senator Elizabeth Warren Puts the Heat on the SEC to Investigate Fed Officials for Insider Trading
By Pam Martens and Russ Martens: October 4, 2021 ~ In a publicly-released letter issued today to SEC Chairman Gary Gensler, Senator Elizabeth Warren has put Fed Chairman Jerome Powell on notice that his plans to conduct a self-investigation of the Fed’s trading scandal isn’t going to fly with her. Warren is a member of the powerful Senate Banking Committee that oversees the Federal Reserve. Warren called on the SEC to “investigate trading in securities by high-level Federal Reserve officials and determine if any of these ethically questionable transactions may have violated insider trading rules.” Warren characterized the trading by Fed officials as reflecting “an attitude that personal profiteering is more important than the American people’s confidence in the Fed.” At one point in the letter, Warren sounded like she might be trying to flush out someone looking for a plea deal to avoid an orange jumpsuit. She invoked the possibility … Continue reading
New Documents Show the Fed’s Trading Scandal Includes Two of the Wall Street Banks It Supervises: Goldman Sachs and Citigroup
By Pam Martens and Russ Martens: October 4, 2021 ~ In the late eighteenth century, men gathered under a Buttonwood tree at 68 Wall in lower Manhattan and traded stocks among themselves. That’s not how it works today. Dallas Fed President Robert Kaplan had to give his “over $1 million” trades in a litany of individual stocks and his “over $1 million” transactions in S&P 500 futures to a licensed broker at a registered broker-dealer. The same thing applied to Boston Fed President Eric Rosengren in placing his $1000 to $50,000 trades 68 times in 2020 in individual stocks and publicly traded Real Estate Investment Trusts (REITs). The safeguards that failed at the Dallas Fed and the Boston Fed to stop their Presidents from trading like hedge fund wannabes should not have failed at the SEC-regulated Wall Street broker-dealers that placed these trades. The accounts at the trading firms for these … Continue reading
The Justice Department Has 58 Documents About Its New Criminal Chief that It Doesn’t Want the Public to See
By Pam Martens and Russ Martens: October 1, 2021 We’re sorry to have to tell you this, but the Freedom of Information Act (FOIA) process, where the public and members of the press can request information from their government and get a meaningful response, is as dead under the Biden administration as it was under the Trump, Obama and George W. Bush administrations. In no small part, this is why the United States of America, which regularly lectures other countries on what it means to be a democracy, has lost the trust of the American people. Earlier this year we reported that the man that President Biden had selected to head the Criminal Division of the Justice Department, Kenneth Polite, owed more than $1.5 million in debts according to his financial disclosure form and public mortgage records; was paying over 18 percent interest on an outstanding balance on a credit card; 19.99 … Continue reading
Dallas Fed President Kaplan Was Making Bold, Market-Moving Statements to Media During 2020 Crisis; the Same Year He Traded Tens of Millions of Dollars in Stocks and S&P 500 Futures
By Pam Martens and Russ Martens: September 30, 2021 ~ Last year, during the worst health crisis in more than a hundred years in the United States, Dallas Fed President Robert Kaplan was frequently throwing gasoline on the fire in broadcast and print media interviews. Also in 2020, Kaplan was trading in and out of S&P 500 futures, a sophisticated instrument used by hedge funds to time the market and/or short the market. The Dallas Fed will not say if Kaplan engaged in shorting the market during a national health crisis. (Shorting means to place a bearish bet that the market or a security will fall in value.) Kaplan gave a total of 68 interviews with the press in 2020, an eyebrow raising number for a man also trading S&P 500 futures. Twice in the span of six days in May of 2020, Kaplan predicted that unemployment was going to surge … Continue reading
Was Boston Fed President Rosengren Trading with Citigroup’s Money?
By Pam Martens and Russ Martens: September 29, 2021 ~ The culture of Wall Street has now completely engulfed the Fed: it’s legal if you can get away with it. For more than five years the President of the Dallas Fed, Robert Kaplan, was trading like a hedge fund kingpin in “over $1 million” transactions in S&P 500 futures while refusing to follow the requirements of the Fed’s financial disclosure form and list the specific dates of his purchases and sells so that the transactions could be examined for whether he had inside information from the Fed at the time. That information is now as much as five years overdue to the American people and we have asked the Dallas Fed to provide it promptly. The Dallas Fed further hampered the free press in America from doing its job by refusing to answer our simple question as to whether Kaplan … Continue reading
Goldman Sachs Refuses to Say If It Was Placing Trades for Dallas Fed President Kaplan as Materially False Statement Released by Board on Kaplan’s Relationship with Goldman Sachs
By Pam Martens and Russ Martens: September 28, 2021 ~ The biggest trading scandal in the Federal Reserve’s 108-year history took down two Federal Reserve Bank Presidents yesterday. Boston Fed President Eric Rosengren, who traded in and out of REITs last year in amounts of $1,000 to $50,000, will leave this Thursday; Dallas Fed President Robert Kaplan, whose trading made Rosengren look like a Boy Scout, will step down from his post at the end of next week. Kaplan was making repeated trades of “over $1 million” in S&P 500 futures (an instrument used during and after stock exchange hours by hedge funds) as well as making “over $1 million” trades in a litany of individual stocks. Just as a poker player can give away his hand with a tell, financial disclosure statements can also provide a tell as to the name of the Wall Street firm that is placing the … Continue reading
Robert Kaplan Was Trading Like a Hedge Fund Kingpin for Five Years while President of the Dallas Fed; a Dozen Legal Safeguards Failed to Stop Him
By Pam Martens and Russ Martens: September 27, 2021 ~ Dallas Fed President, Robert Kaplan, wasn’t just trading like an aggressive hedge fund kingpin in 2020, he’s been doing the same thing for five years at the Dallas Fed while simultaneously having access to non-public, market moving information from the Federal Reserve’s interest-rate setting FOMC meetings and other confidential communications. In 2017 and 2020, Kaplan was a voting member of the FOMC. In the other years since he joined the Dallas Fed in 2015, he sat in on the confidential FOMC deliberations and was allowed to participate in the discussions. Each of Kaplan’s financial disclosures forms dating back to when he first became Dallas Fed President on September 8, 2015 (which we obtained directly from the Dallas Fed), show that Kaplan was trading in and out of S&P 500 futures, a highly speculative form of trading used by hedge funds and … Continue reading
Woman Who Helped Expose Wall Street Mega Banks’ Vast Holdings of Physical Commodities Is Nominated as a Top Bank Regulator
By Pam Martens and Russ Martens: September 24, 2021 ~ Yesterday, President Biden took the bold step of nominating Saule Omarova to head the Office of the Comptroller of the Currency (OCC), a top federal bank regulator. Omarova is a Law Professor at Cornell and has written extensively on systemic risk containment. Prior to joining Cornell in 2014, Omarova was Associate Professor at the University of North Carolina School of Law. Prior to her academic career, Omarova worked for the corporate law firm, Davis Polk & Wardwell, in their Financial Institutions Group. In 2006-2007, she served at the U.S. Department of the Treasury as a Special Advisor for Regulatory Policy to the Under Secretary for Domestic Finance. Omarova represents a triple threat to the insidious behavior of mega banks on Wall Street: she has an in-depth knowledge of how they operate; she is not timid about explaining it to investigative bodies … Continue reading