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Recent Posts
- 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
- 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
Search Results for: Jamie Dimon
Wall Street’s Protection Racket: Mandatory Arbitration
By Pam Martens and Russ Martens: August 23, 2016 What people across Wall Street cannot figure out is why the Board of JPMorgan Chase, America’s biggest bank by assets, didn’t sack its CEO, Jamie Dimon, at some point between the bank’s first two felony counts in 2014 and its third felony count in 2015. Or, as two trial lawyers, Helen Davis Chaitman and Lance Gotthoffer point out on their web site, during the past five years as JPMorgan Chase racked up $35.7 billion in fines and settlements for “fraudulent and illegal practices.” JPMorgan Chase’s abuses of its own customers are so vast that Chaitman and Gotthoffer had to create a Wheel of Misfortune to catalog the scams for ease of viewing by the public. And here’s the worst part: those are just the frauds that the public is allowed to read about. JPMorgan Chase, along with other notoriously abusive banks … Continue reading
Has Michael Bloomberg’s Praetorian Guard Moved to Bloomberg News?
By Pam Martens and Russ Martens: August 10, 2016 Michael Bloomberg served three terms as the Mayor of New York City from January 2002 to January 2014. The last term was made possible by the Mayor spending an estimated $60-$90 million of his own money repealing the two-term limits – an act that outraged many New Yorkers. According to Forbes, during Michael Bloomberg’s 12-year stint as Mayor, his wealth exploded more than ten-fold, from $3 billion to $31 billion. The bulk of Bloomberg’s wealth has derived from leasing his Bloomberg data and news terminals at a cost of approximately $24,000 per terminal per year to tens of thousands of Wall Street trading desks and global banks around the world. The Mayor’s wealth and where it comes from is a reality that poses an inherent conflict of interest for any news outlet but it is especially so for a news organization … Continue reading
Brexit Vote: A Pie in the Face to the Global Elites
By Pam Martens and Russ Martens: June 24, 2016 The anti-establishment trend has picked up its pace this morning, showing no signs of abating. Around 2:30 a.m. New York time, Wall Street traders were stunned by the news that U.K. voters had backed leaving the European Union by 51.9 percent versus a remain vote of 48.1 percent in the anxiously anticipated Brexit referendum held yesterday. The outcome slammed markets – leaving many wondering if big banks and hedge funds were going to take heavy losses this morning for placing wrong way trades. Futures markets were doing little to reassure that this wasn’t the case with futures on the Dow Jones Industrial Average showing a loss of over 553 points before the market opened and major Wall Street banks like Citigroup, Morgan Stanley, Bank of America, and JPMorgan Chase off by 6 to 7 percent in premarket trading. In times of … Continue reading
Why Brexit Is Such a Threat to the New World Order
By Pam Martens and Russ Martens: June 16, 2016 If you think that a referendum vote on June 23 by UK citizens on whether to withdraw from the European Union (called Brexit, short for British Exit), is simply a proxy on whether the UK should dislodge itself from the edicts of Brussels, think again. It’s morphed into a much broader debate on whether citizens worldwide should surrender their right to a participatory democracy in order to further the interests of multinational corporations, secret trade agreements packed with secret court tribunals, global banking hegemony and central banks attempting to keep all these balls in the air for their one percent overlords. One particular central bank is sure to come under fire today. Members of the British Parliament have been warning Mark Carney, head of the Bank of England (BOE), to not engage in political lobbying on the issue of Brexit, which … Continue reading
A Critical and Ignored 2008 Email by Ben Bernanke on the Lehman Collapse
By Pam Martens and Russ Martens: June 10, 2016 A little noticed 2008 email from former Federal Reserve Chairman, Ben Bernanke, raises serious questions about his official narrative on the collapse of Lehman Brothers. We’ll get to the email in detail, but first some necessary background. A lot of eyes rolled on Wall Street last October when Ben Bernanke, who chaired the Federal Reserve in the lead up to and during the financial collapse in 2008, released his memoir of the financial crisis with the title: “The Courage to Act: A Memoir of a Crisis and its Aftermath.” Many Wall Street observers felt the title would have more correctly captured the facts on the ground had it read: “The Lack of Fed Courage to Supervise Mega Banks Led to an Epic Collapse.” (In the leadup to the crisis, the Fed allowed Citigroup CEO Sandy Weill and JPMorgan Chase CEO, Jamie … Continue reading
Report: 2008 Bank Bailouts Are Still Alive
By Pam Martens and Russ Martens: May 9, 2016 The U.S. is now in its eighth year since the Wall Street bank collapse of 2008 and most members of the general public believe the bailouts are long finished. That’s a fallacy. Last Friday, the Government Accountability Office (GAO) released a report showing that there are 16 banks still involved in the original bailout program – one of which, First Bancorp, owes the government $124.97 million or 49 percent of the funds owed by the other 15 banks combined. First Bancorp continues to trade on the New York Stock Exchange under the stock symbol, FBP. The common stock of First Bancorp has declined from over $150 a share in 2009 to close last Friday at $3.72. According to the company’s 10K filed with the Securities and Exchange Commission for year-end December 31, 2015, the U.S. government still owned 4.8 percent of … Continue reading
GAO: JPMorgan Chase Customers Lost $5.4 Billion to Madoff
By Pam Martens and Russ Martens: April 22, 2016 Buried in a report released yesterday by the Government Accountability Office (GAO) was a stunning piece of news. Customers of JPMorgan Chase, the bank that Wall Street analyst Mike Mayo has preposterously called the “Lebron James of banking,” were major victims of Bernie Madoff’s Ponzi scheme – to the tune of $5.4 billion – because of negligence on the part of the bank. The report states the following: “In 2014, DOJ [Department of Justice] assessed a $1.7 billion forfeiture – the largest penalty related to a BSA [Bank Secrecy Act] violation – against JPMorgan Chase Bank. DOJ cited the bank for its failure to detect and report the suspicious activities of Bernard Madoff. The bank failed to maintain an effective anti-money-laundering program and report suspicious transactions in 2008, which contributed to their customers losing about $5.4 billion in Bernard Madoff’s Ponzi … Continue reading
Democratic Debate: Clinton Dangerously Trumpets Obama’s Record
By Pam Martens and Russ Martens: April 15, 2016 During the series of Democratic debates, including the one last night hosted by CNN, Hillary Clinton has repeatedly trumpeted the record of President Obama in signing tough legislation to rein in Wall Street abuses when questioned on her money spigot flowing from Wall Street. According to her logic, since Obama’s campaign and his Super Pacs took plenty of money from Wall Street and went ahead and enacted tough Dodd-Frank reform legislation, why should her integrity be questioned. Early in last night’s debate, when Sanders raised the fact that she and a Super Pac supporting her have taken $15 million from Wall Street, Clinton had this to say: “Well, make — make no mistake about it, this is not just an attack on me, it’s an attack on President Obama. President Obama…You know, let me tell you why. You may not like … Continue reading
The Fed Sends a Frightening Letter to JPMorgan and Corporate Media Yawns
By Pam Martens and Russ Martens: April 14, 2016 Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system. A rational observer of Wall Street’s serial hubris might have expected some key segments of this letter to make it into the business press. A mere eight years ago the United States experienced a complete meltdown of its financial system, leading to the worst economic collapse since the Great Depression. President Obama and regulators have been assuring us over these intervening eight years that things are … Continue reading
Obama Video: President Has His Facts Seriously Wrong on Financial Reform
By Pam Martens and Russ Martens: March 31, 2016 On March 7 of this year, President Obama called the full Financial Stability Oversight Council (F-SOC) to the White House for a meeting. F-SOC was created under the 2010 financial reform legislation known as Dodd-Frank to monitor systemic risks building up in the financial system and, ideally, nip them in the bud before they got out of hand. Every major Wall Street bank regulator sits on F-SOC. Immediately following his meeting with F-SOC on March 7, President Obama held a press conference (see video below) with the F-SOC members sitting around him at a large conference table. Sitting two seats away from the President was Mary Jo White, Chair of the Securities and Exchange Commission. Directly across the table was Thomas Curry, head of the Office of the Comptroller of the Currency (OCC) that oversees national banks, and Jack Lew, U.S. … Continue reading