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Recent Posts
- Trump’s “Big Beautiful Bill” Is a Grotesque Giveaway to Fossil Fuel Billionaires While Adding $3.3 Trillion to Nation’s Debt
- Senator Chris Murphy Charges that Trump “Has Opened a Channel for Bribery”
- Congressman Casten: Trump’s Assault on the Rule of Law Is Causing Capital Flight Out of U.S. by Foreign Investors
- Trump’s Approval Rating Drops to 80-Year Low; IMF Says U.S. Tariffs Now Exceed the Highs During the Great Depression
- Nasdaq Has Lost More than 3,000 Points Since Trump’s First Full Day in Office in 2025; the Pain Has Barely Begun
- The Bond Crisis Last Week Was a Global No-Confidence Vote in U. S. President Donald Trump
- Trump’s Tariff Plan Guts $5 Trillion in Stock Value in Two Days; Senator Warren Calls for Emergency Action Before Markets Open on Monday
- Trump’s Attacks on Big Law, Universities, and the Media Have a Common Goal: Silence Dissent Against Authoritarian Rule
- Trump Administration Gives All Clear to Laundering Money through Shell Companies and Bribing Foreign Officials
- Four Megabanks on Wall Street Hold $3.2 Trillion in Uninsured Deposits – Which May Explain Senator Schumer’s Pivot to the GOP to Stop a Government Shutdown
- Here’s What Came Crashing Down Yesterday for Trump’s “Genius” Guy, Elon Musk: Tesla Stock, Access to Twitter (X), His Years of Secret Calls with Putin
- After Banning the Associated Press, Trump Is Now Targeting Specific Journalists That He Wants to See Fired
- Closely Watched Atlanta Fed Model Predicts Negative U.S. Growth in First Quarter
- Trump’s Gangster Diplomacy Makes Front Page Headlines Around the Globe
- Who Benefits Alongside Elon Musk If He Succeeds in Killing the CFPB: the Megabanks on Wall Street that Underwrite His Tesla Stock Offerings
- In Trump 1.0, the State Department Used Taxpayer Money to Publish a Book Elevating Elon Musk to a Superhero; It Was Funded by USAID, the Agency Musk Wants to Quickly Shut Down
- News Host Joy Reid Raises Threat of Trump Selling U.S. to Putin; Ten Days Later Her Show Is Cancelled
- Elon Musk’s DOGE Appears to Be Violating a Court Order; It Has Taken Down Hundreds of YouTube Videos that Educate Americans on How to Avoid Being Swindled
- Barron’s Releases Audio of Jamie Dimon Cursing Out His Workers at a Town Hall, as Dimon Plans to Dump Another One Million JPM Shares
- There’s One Federal Investigative Agency that Neither Trump nor Elon Musk Can Touch: It Just Opened an Investigation into DOGE
- Elon Musk’s Companies Were Under Investigation by Five Inspectors General When the Trump Administration Fired Them and Made Musk the Investigator
- Donald Trump Gives the Greenlight to Goldman Sachs and JPMorgan Chase to Return to Bribing Foreign Officials
- After Tech Geeks Built a Back Door to Loot Billions from FTX, Republicans Refuse to Investigate What Elon Musk’s Tech-Squad Did Inside the U.S. Treasury’s Payment System
- Former Prosecutor, Now U.S. Senator, Informs Tesla That CEO Musk May Be Violating Federal Law and to “Preserve All Records”
- Trump’s Hedge Fund Guy Is Now Overseeing the U.S. Treasury, IRS, OCC, U.S. Mint, FinCEN, F-SOC, and the Consumer Financial Protection Bureau
- As Elon Musk Begins Shutting Down Payments to Federal Contractors, a Strange Money Trail Emerges to His Operatives Inside the U.S. Treasury’s Payment System
- JPMorgan Chase Charged by Yet Another Internal Whistleblower with Cooking the Books
- We Asked Google’s AI Search Model, Gemini, Questions About the Fed and Wall Street Megabanks: It Got the Answers Dead Wrong
- With Trump and Melania’s Crypto Coins Likely to Raise Legal Challenges, Why Didn’t Trump Fire the SEC’s Inspector General in His Purge of IGs?
- Fossil Fuel Industry Could End Up Paying Tens of Billions for LA Wildfires and Deceiving the Public on Climate Change for Decades
- It’s Being Called the Biggest Grift by a President in U.S. History: Trump and First Lady Launch their Own Crypto Coins
- Trump Plans to Install a Fracking CEO to Head the Energy Department and Declare a National Emergency on Energy to Gain Vast Powers
- Fossil Fuel Money Played a Role in the Los Angeles Fires and the Push to Install Pete Hegseth as Secretary of Defense
- When It Comes to Wealth Retention in Retirement, Concrete May Be the New Gold
- Wall Street Watchdog Warns “Clock Is Ticking on a Coming Catastrophic Financial Crash”
- Wall Street Is Sending the Same Message to Americans on Fossil Fuel Financing that It Sent on Cigarettes: Drop Dead
- In a Six-Week Span, this Dark Pool with a Curious Past Traded 3.7 Billion Shares
- Wall Street’s Lobby Firm Hired Eugene Scalia of Gibson Dunn to Sue the Fed for Jamie Dimon
- Postmaster General Louis DeJoy Made $561,051 in Compensation in 2024, as Mail Costs Spiked and Delivery Deteriorated
- Fed Chair Jay Powell Sends a Bold Message to Trump and Tanks the Dow by 1123 Points
- The Head of Fixed Income at T. Rowe Price Makes the Scary Case for the 10-Year Treasury to Spike to 6 Percent
- $663 Billion in Cash Assets Have Gone Poof at the Largest U.S. Banks
- Donald Trump to Ring Bell at New York Stock Exchange Today as Hit List Posters Appear in Manhattan Targeting Wall Street CEOs
- Trump Has a Slush Fund to Prop Up the Dollar – Will He Use It to Prop Up Bitcoin Instead?
- A CEO Assassination; a Billionaire Heiress/NYPD Commissioner; a Secret Wall Street Spy Center – Here’s How They’re Connected
- Despite More than 1600 Tech Scientists Signing a Letter Calling Crypto a Sham, Trump Names a Crypto Cheerleader for SEC Chair
- The Fed Rings a Warning Bell: Hedge Funds and Life Insurers Are Reporting Historic Leverage
- Trump’s Nominee for FBI Director, Kash Patel, Has Businesses Financially Intertwined with Trump
- Donald Trump Is at Risk of Getting Named in a Fossil Fuels Conspiracy Lawsuit
- Trump Is Having Difficulty Getting a Lawyer to Accept the Nomination for SEC Chair: Here’s Why
Search Results for: Federal Reserve
Quietly, the Fed Releases the Names of Banks that Got Billions in Emergency Repo Loans in 2019

By Pam Martens and Russ Martens: October 13, 2021 ~ The Federal Reserve Bank of New York has quietly posted the names of the banks that grabbed billions of dollars under the Fed’s emergency repo loan operations that commenced on September 17, 2019 – months before there was a COVID-19 crisis anywhere in the world. The emergency repo loans were made via Open Market operations at the New York Fed. Under the Dodd-Frank financial reform legislation of 2010, the names of the banks, dollar amounts borrowed, interest rate and collateral posted must be made public “on the last day of the eighth calendar quarter following the calendar quarter in which the covered transaction was conducted.” Since the emergency repo loans were initiated in the third quarter of 2019, that meant eight quarters had passed and the public was entitled to the information for at least the month of September 2019. (The Fed … Continue reading
The Dallas Fed Board Is Now Complicit in the Robert Kaplan Saga

By Pam Martens and Russ Martens: October 12, 2021 ~ Last Wednesday, the Editorial Board of the Financial Times of London penned an editorial under a headline that read: “The Fed’s Trading Scandal Undermines Public Trust.” The editorial noted that the President of the Dallas Fed, Robert Kaplan, “held stakes over $1m each in 27 investments, and moved in and out of S&P 500 futures. The precise dates of his transactions are unknown as his form declaring financial interests merely gives ‘multiple’ as the timeframe.” Last Friday, this headline appeared at the Wall Street Journal: “Boston, Dallas Fed Banks Pledge Cooperation With Stock-Trading Probe.” But then the article revealed this: “The Dallas Fed has declined multiple requests to fully disclose Mr. Kaplan’s extensive trading activity. For example, Mr. Kaplan’s disclosures list ‘multiple’ for trades in stocks and other investments without specifying the dates of the transactions.” The financial disclosure form that Kaplan … Continue reading
The U.S. Banking System Is More Dangerous Today than in 1929, Thanks to the Fed’s Reg U and Swaps – Two Well-Kept Secrets from the Senate Banking Committee

By Pam Martens and Russ Martens: October 11, 2021 ~ Regulation U is a 1936 Federal Reserve rule, that is still in force today, that allows federally-insured, taxpayer backstopped commercial banks to make margin loans for speculating in stocks. Unlike 1936, however, Wall Street trading houses are today allowed to own their own federally-insured, taxpayer backstopped commercial banks. That has allowed a lot of mischief to occur in the making of margin loans for speculating in the stock market. We’ll get to the details of all that in a few moments, but first some necessary background. Following the 1929 stock market crash, 9,096 banks that were holding deposits for average Americans failed as a result of insolvency between 1930 and 1933. (See chart above.) The 1930s banking crisis came to a head on March 6, 1933, just one day after President Franklin D. Roosevelt was inaugurated. Following a month-long run on the … Continue reading
Dallas Fed President Robert Kaplan Was Gathering His Own Market Intelligence

By Pam Martens and Russ Martens: October 8, 2021 ~ Dallas Fed President Robert Kaplan is due to step down today after playing a central role in creating the worst trading scandal in the Federal Reserve’s 108-year history. Not only was Kaplan trading in and out of “over $1 million” positions in individual stocks but he was also engaging in “over $1 million” transactions in S&P 500 futures, an instrument used by hedge funds and day traders to make leveraged bets on the direction of the market. As Wall Street On Parade previously explained, a dozen legal safeguards had to fail to allow this to happen. The Dallas Fed has refused to say if Kaplan was shorting the market. It has also refused to provide the dates of Kaplan’s trades, despite the fact that the Dallas Fed’s own financial disclosure form requires Kaplan to provide that information. Other Fed Bank Presidents readily … Continue reading
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