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Recent Posts
- 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
- The Professor Who Wrote the Seminal Book on Wall Street Megabanks Calls Today’s Financial System “Dangerously Unstable”
- Gold Has Set Historic Highs this Year as the Federal Reserve Has Reported Historic Losses
- Stanford Finance Professor Anat Admati Is Making Jamie Dimon Very Nervous – Again Calling His Bank “Dangerous”
- Jamie Dimon Dumped $150 Million of His JPMorgan Stock in February; Now He Says His Regulators Want 25 Percent More Capital at his Bank
- The Black Swan Rears Its Head: The Fed Has Negative Capital Using GAAP Accounting
- New York Fed Will Not Confirm or Deny that 5-Count Felon JPMorgan Chase Is Custodian of $2.4 Trillion of Its Securities
- For the First Time in History, the Fed Is Reporting Billions in Losses Weekly; It’s Still Paying High Interest Income to the Mega Banks on Wall Street
- There’s a Revival of the Dotcom-esque Froth in Today’s Markets; Cathie Wood Is Standing in for Henry Blodget and Jack Grubman; Nasdaq Is Playing Nasdaq
- Study Finds Wall Street Mega Banks Have Overstated Income for Years on Commercial Real Estate Loans They Sell to Investors
- Jamie Dimon Huddles in Private with Biden Bigwigs as His Bank Faces More Crime Charges
- Report: Five Banks Have a Combined Half Trillion Dollars in Commercial Real Estate Loans; Number 1 is JPMorgan Chase
- Billionaire Larry Fink of BlackRock, Which Grabbed Fed Bailouts in 2020-2021, Lectures Struggling Seniors on Making More Sacrifices
- Almost 10,000 U.S. Banks Have Disappeared Since 1985, Leaving 4 Mega Banks Controlling 39 Percent of Bank Assets
- Wall Street’s Go-To Law Firm, Sullivan & Cromwell, Got in Bed with Crypto; Now Its Reputation Is Being Hammered
- More Failed Banks and Office Building Demolitions Likely Before Real Estate Problems End, Warn Two Federal Agencies
- During Spring Bank Panic of 2023, Liquidity Advances from FHLBs Topped Those of Q4 2008, when Wall Street Was in Collapse
- JPMorgan’s Federally-Insured Bank Is Fined $348 Million for Losing Track of “Billions” of Trades
- Hedge Fund Titan John Paulson Made $1 Billion in an Illegal Goldman Sachs Deal; Trump Is Now Floating Him for Treasury Secretary
- Wall Street Mega Banks Have Drawn a Law-Free Zone Around Themselves – The Media Is Complicit
- A Financial Writer at New York Times Admits He’s Been Misrepresenting Bank Capital for 14 Years
- FDIC Data Contradicts Fed Chair Powell: Shows Real Estate Problems Have Skyrocketed at Largest U.S. Banks, Not the Smaller Regionals
- Senator Elizabeth Warren Calls Fed Chair Powell “Weak-Kneed”; Says He Is “Driving Efforts Inside the Fed” to Gut Higher Capital Requirements
- Steve Mnuchin, Trump’s Treasury Secretary/Foreclosure Kingpin, Joins with Hedge Fund Guys to Grab a Teetering, Federally-Insured Bank for $2 a Share
- Wall Street Mega Banks Have Created a Circular Firing Squad with Credit Derivatives and Capital Relief Trades – with the Fed’s Blessing
- 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
- 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
- The Fed Pretends to Send a Warning to Wall Street’s Mega Banks on Derivatives and Counterparty Risk
- $87 Million Buys This for Jamie Dimon: David Boies Can’t Utter the Words “JPMorgan Chase” in a Jeffrey Epstein Sex Trafficking Case
- Jamie Dimon and Nine of His Top Executives at JPMorgan Chase Have Dumped Over $150 Million of their JPMorgan Stock in Last Two Months
- These Charts Reveal Why the Fed Is Frightened about Capital Levels at the Wall Street Mega Banks
- Wall Street Law Firm Sullivan & Cromwell Gets Sued Over Allegations It Aided and Abetted the FTX Crypto Fraud
- JPMorgan Says Its “Trading Venues” Are Under Investigation While It’s Still on Probation for Prior Trading Crimes
- Jamie Dimon Is Desperate to Pin the Jeffrey Epstein Scandal on Jes Staley; Bloomberg News Is Carrying His Water — Again
- Citigroup Is Having a Very Bad Week; Regulators Are Breathing Down Its Neck
- Five Wall Street Banks Hold $223 Trillion in Derivatives — 83 Percent of All Derivatives at 4,600 Banks
- Jamie Dimon’s Statement Last Month that Trump “Was Kind of Right About NATO,” Sounds Even More Unhinged Today
- S&P 500 Sets a Record on Wednesday as Banks Continue Tanking
Search Results for: bank collusion
Judge Lewis A. Kaplan, “The Chickenshit Club,” and Spiraling Corporate Crime
By Pam Martens and Russ Martens: July 6, 2018 ~ Last year Simon & Schuster released The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives by the Pulitzer Prize winning journalist at ProPublica, Jesse Eisinger. If you read nothing else this summer, you should read this book followed by Nomi Prins’ Collusion: How Central Bankers Rigged the World. The two books provide Americans with a comprehensive understanding of how the Justice Department, Federal regulators, a growing number of Federal judges and the central bank of the United States known as the Federal Reserve have been corrupted by corporate influence. To a large degree, they now serve their corporate masters, not the American people. The Chickenshit Club is a lively, fascinating and disturbing look behind the scenes at the U.S. Justice Department, its U.S. Attorney’s Office for the Southern District of New York and the judges and lawyers who … Continue reading
The Yield Curve Makes Headlines – But What Does It Mean for Your Finances?
By Pam Martens and Russ Martens: June 26, 2018 ~ Over the past week, everyone from the New York Times to Mother Jones is writing about the yield curve – a topic previously considered so esoteric by newspaper editors that only an economic nerd of a reporter would dare suggest writing a story about it. The concern today is that the yield curve (a measure of short, intermediate and long-term interest rates) is getting very close to inverting. An inverted yield curve occurs when short rates are higher than longer term rates. Under normal circumstances, an investor should be rewarded with a higher yield for taking greater risk in buying a longer-dated bond since future inflation would erode his purchasing power from the interest payments on the longer bond over time. At Wall Street On Parade, we’ve been calling our readers’ attention to what’s happening with the yield curve since … Continue reading
Bitcoin Price Manipulation Versus What’s Going on in Dark Pools
By Pam Martens and Russ Martens: June 14, 2018 ~ Finance Professor John Griffin and fellow researcher Amin Shams, both at the University of Texas, released a study yesterday that is causing alarm bells to ring for investors in Bitcoin and other digital currencies. Titled “Is Bitcoin Really Un-Tethered?” the researchers found strong evidence that Tether, another digital currency, is being used to artificially support the price of Bitcoin when it comes under selling pressure. Griffin and Shams found further that “Tether seems to be used both to stabilize and manipulate Bitcoin prices.” Bitcoin soared over 1400 percent last year but has been selling off this year. It’s lost about 70 percent from the peak it set last year. The researchers write: “To illustrate the potential magnitude and predictive effect of Tether issuances on Bitcoin prices, we focus on the hours with the largest lagged combined Bitcoin and Tether flows on … Continue reading
Wall Street CEO to Worker Pay Ratios Don’t Capture What’s Going On
By Pam Martens and Russ Martens: June 5, 2018 ~ The Dodd-Frank financial reform legislation that was passed in 2010 required that publicly traded companies report publicly how much the CEO makes compared to the median salary of workers. The Securities and Exchange Commission, with its close ties to Wall Street, stonewalled for years in passing the final rule and had to be pressured and publicly embarrassed in open letters from members of Congress before it finally implemented the rule. As a result, eight years later, we are finally seeing the hard numbers that define CEO greed in America. In May, Democratic Congressman Keith Ellison from Minnesota’s 5th District released a study on the new data that was being released. The study was titled “Rewarding or Hoarding: An Examination of Pay Ratios Revealed by Dodd-Frank.” Among the key findings in the study were the following: Two-thirds of the richest 1 … Continue reading
Nomi Prins’ New Book Is a Far More Important Read than Comey’s
By Pam Martens and Russ Martens: April 30, 2018 ~ Tonight, at 7 p.m., Wall Street historian and author, Nomi Prins, will be speaking at The Strand bookstore at 828 Broadway in New York City. (See admission details here.) The appearance marks the launch of her latest book, Collusion: How Central Bankers Rigged the World, set for release tomorrow. While former FBI Director James Comey’s new book, A Higher Loyalty, has been getting lots of attention on cable news, Collusion is a far more important book. America can recover from a disastrous presidency, the topic of Comey’s book. But America might not be able to fully recover from another epic financial crash brought on by disastrous central bank policy – the subject of Prins’ book. Collusion not only proves that the 1 percent got bailed out while the 99 percent got sold out as a result of policies of the U.S. … Continue reading
Why Isn’t the Justice Department Bringing Treasury-Rigging Charges Against Wall Street?
By Pam Martens and Russ Martens: April 24, 2018 ~ The U.S. Department of Justice has had an ongoing investigation into the potential rigging of the U.S. Treasury market by big banks on Wall Street for the past three years according to a series of past media reports. And yet, no formal charges have been brought. Lots of Wall Street watchers are wondering why – especially since private law firms have brought very specific charges in the matter into Federal court. There are only so many times the Justice Department can charge the largest Wall Street banks with felony counts for rigging markets before the public catches on that it’s a feature not a bug of their business model. Continuous rigging charges could lead to growing public demands and newspaper editorials to break up these serially-charged behemoths at a time when members of Congress – who depend on the largess … Continue reading
Will the Stock Market’s Tech Rout End Like the Dot.com Bust?
By Pam Martens and Russ Martens: April 3, 2018 Last year the iconic investor, Warren Buffett, the CEO of Berkshire Hathaway, penned his annual missive to shareholders. It contained this nugget: “Above all, it’s our market system – an economic traffic cop ably directing capital, brains and labor – that has created America’s abundance. This system has also been the primary factor in allocating rewards.” If that statement is true, then the $2.3 trillion that the U.S. stock market vaporized over the past two months is nothing for investors to worry about. But if the market is not efficiently directing capital, if it’s a system where everything from stock research, to high frequency trading, to Dark Pools, to over-the-counter derivatives, to revolving-door regulators is rigged to benefit insiders, then buckle your seat belts for the wild ride that’s coming. The reality is that careful Wall Street watchers have known for … Continue reading
Volatility: Has Wall Street Found One More Index It Can Rig?
By Pam Martens and Russ Martens: February 14, 2018 On Monday, an anonymous whistleblower sent a letter via his lawyer to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) charging that traders were manipulating the stock market volatility index known as the VIX. The whistleblower said that a flaw exists in the VIX that “allows trading firms with sophisticated algorithms to move the VIX up or down by simply posting quotes on S&P options and without needing to physically engage in any trading or deploying any capital.” The Chicago Board Options Exchange (CBOE) where VIX options and futures trade, quickly denied the claims. This whistleblower claims come at a time when billions of dollars are blowing up around the globe because traders placed wrong-way bets that the VIX would maintain the low volatility levels it has enjoyed over multiple years as a result of low … Continue reading
These Fears Are Overhanging the Stock Market
By Pam Martens and Russ Martens: February 12, 2018 Here’s what is feeding fear in the stock market: Trump’s presidency is spinning out of control leaving no adults in the room; the much ballyhooed tax cut legislation is actually going to produce frightening budget deficits that push up interest rates to a level that crashes the stock market; the Republican Party that pushed for this fiscally-irresponsible tax cut plan will be responsible for handing the House over to Democrats in the midterms, putting an end to the deregulation perks to corporations that have buoyed this stock market; if the House shifts leadership so will important House Committees like Intelligence and Financial Services, which may decide to start issuing meaningful subpoenas. And that’s just for starters. A big fear that is much less talked about involves the changing role that global central banks have played in stock and bond markets. The … Continue reading
Gallup Poll: U.S. Is Dramatically Losing Global Respect
By Pam Martens and Russ Martens: January 19, 2018 Since the inauguration of Donald Trump on January 20, 2017, the stock market has performed as if it is operating in an alternative universe, regularly setting new record highs despite unprecedented chaos coming from the White House. Now, a new Gallup poll is calling into question how long the divergence between the market’s view of Trump and the world view of Trump can continue. A new Gallup poll released yesterday puts global approval of US leadership at just 30%, behind China at 31% and Russia at 27%. Germany has moved into the top slot in the world with a leadership approval rating of 41%. One of the most striking findings from the poll is how far America’s leadership approval has fallen among our closest neighbors. According to Gallup, Canada led declines with U.S. leadership approval sinking 40 points from 60% in … Continue reading