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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
Fed Chair Janet Yellen Has a New York Problem
By Pam Martens and Russ Martens: October 6, 2014 America’s central bank, the Federal Reserve, has a credibility problem and a management crisis unique to its unusual structure. If the Chair of the Federal Reserve Board of Governors, Janet Yellen, had any real management powers, she would have immediately asked William Dudley, President of the New York Fed, to step down after internal tape recordings revealed that his staff rubber stamps “legal but shady” deals at the big Wall Street banks it supervises. “Legal but shady” and patently illegal dressed up as just shady deals collapsed this Nation’s financial system only six years ago and continues to depress the country’s economic growth. The tapes were released by former New York Fed bank examiner, Carmen Segarra, via the public interest web site ProPublica and public radio’s “This American Life.” Segarra is suing the New York Fed, charging that she was terminated … Continue reading
Carmen Segarra: Wall Street’s Spy Vs Spy
By Pam Martens: September 28, 2014 If you missed our coverage in 2012 of the Lower Manhattan Security Coordination Center where Wall Street sleuths from those serially charged firms like Goldman Sachs and JPMorgan dunk donuts alongside New York’s finest in a $150 million spy center, keeping tabs on the comings and goings of their own Wall Street employees as well as innocent pedestrians, then you may not fully appreciate why Carmen Segarra has been celebrated all weekend for her temerity in taping her boss and colleagues at the New York Fed, as well as employees inside the cloistered bowels of Goldman Sachs. While Wall Street was spying on everyone else in lower Manhattan in a high tech center funded by the taxpayer, Segarra strolled over to a Spy Store, plunked down a modest sum and walked out with a tiny tape recorder. She then proceeded to capture the essence … Continue reading
Goldilocks Economy? What Are They Smoking at the Wall Street Journal?
By Pam Martens and Russ Martens: September 25, 2014 Imagine historians 25 years from now looking back on one of the worst economic periods since the Great Depression and finding that the Wall Street Journal was calling this a “Goldilocks Economy” – “not too hot, not too cold.” (They can’t actually bring themselves to say “just right” to stay on script with the fairy tale.) On September 7, 2014 the Wall Street Journal went with this headline: “The Upside of August’s Jobs Report: A Goldilocks Economy.” The next day, in a blog post, this appeared: “Stocks rallied Friday following the disappointing jobs report as those hoping for a Goldilocks economy (not too hot, not too cold) cheered.” During the Great Depression, headline writers were admonished not to use the phrase “Great Depression” but to go with the more benign “hard times.” The theory behind the use of the phrase “Goldilocks … Continue reading
Eric Cantor Loses: Goldman Sachs, Blackstone, Citigroup & NYU Board Weep
By Pam Martens and Russ Martens: June 12, 2014 Eric Cantor’s campaign may have eaten its way through $168,000 of steak dinners but big players on Wall Street are eating crow. Between 2000 and 2007, Goldman Sachs’ Chairman and CEO, Lloyd Blankfein, personally stuffed $73,500 into the Democratic Senatorial Campaign Committee to help elect Democrats to Federal office. But by 2012, Blankfein had decided that “Every Republican is Crucial” and gave just defeated Virginia Republican and House Majority Leader Eric Cantor’s leadership PAC by the same name $5,000 in 2012 and another $5,000 in 2013. In addition, Blankfein gave the Cantor Victory Fund $10,200 on December 6, 2013 according to receipts at the Federal Election Commission. In the 2013-2014 election cycle, Goldman Sachs’ employees and/or their family members gave a total of $88,500 to Cantor’s leadership PAC – which sluices money to Republican candidates around the country – and another … Continue reading
A Disappeared Book on Wall Street History Provides a Dead Serious Warning
By Pam Martens: June 11, 2014 Wall Street On Parade has been reporting for some time now that much of Wall Street’s past and current history has up and disappeared – either at the hands of high speed shredders on orders from the SEC, or through Courts sealing documents, or Wall Street’s private justice system preventing access to hearings, non-disparagement contracts when you change your job on Wall Street, or critical pieces of Wall Street history just go missing and no one can find out exactly why. Now we learn that a vital book on Wall Street’s history had vanished until an NYU Professor made it his mission to return it to the public’s hands. In 2011, Darcy Flynn, an SEC lawyer, told Congressional investigators and the SEC Inspector General that for at least 18 years, the SEC had been shredding documents and emails related to its investigations — documents … Continue reading
Hubris at the Top: The Imperial and Tone Deaf CEO
By Pam Martens and Russ Martens: May 21, 2014 There are lots of reasons to worry about America’s future. But one worry that we seldom hear discussed in any comprehensive way is the growing brand impairment resulting from the loss of Americans’ belief in their country’s sense of decency and the loss of credibility abroad from the too-big-to-discipline CEO – who, for better or worse, is acutely aligned with the corporate brand. Whether we like it or not, great corporate brands create jobs in America and tarnished brands result in job losses. There seems to be an intellectual disconnect in the thinking of the corporate Board of Directors who continue to lavish obscene pay on the discredited CEO and the reality that the corporate brand – the most valuable asset the corporation owns – is being severely diminished in the eyes of the consumer whose trust or distrust in that … Continue reading
The Inquest of JPMorgan VP Gabriel Magee: Case Closed; Move Along
By Pam Martens and Russ Martens: May 20, 2014 If it’s at all possible, don’t die on the premises of a too-big-to-fail bank like JPMorgan. That’s because if you do your otherwise meritorious life and career is likely to be turned into a circus of slanderous tidbits in order to promote the reputation of the global banking behemoth as the benevolent guardian of all things noble and saintly. A coroner’s inquest began at 10 a.m. in London this morning to investigate how 39 year old Gabriel Magee, a technology Vice President who worked in JPMorgan’s European headquarters at 25 Bank Street in London, came to be found dead on a 9th level rooftop at approximately 8:02 a.m. on the morning of January 28 of this year. The inquest had barely begun when the wire service, Reuters, ran this headline: “JP Morgan Executive Had High Alcohol Level Before Skyscraper Plunge, London … Continue reading
The Carmen Segarra Case: Welcome to New York, Wall Street and McJustice
By Pam Martens: May 7, 2014 There is one key thing you need to know from the get-go about bank examiner Carmen Segarra’s Federal whistleblower lawsuit over being fired for her finding that Goldman Sach’s had no firm wide conflict of interests policy and landing in a Federal courtroom with even worse conflicts: this kind of McJustice has been tolerated in the Federal Court for the Southern District of New York for at least the past 20 years. Segarra was a bank examiner with a law degree at the Federal Reserve Bank of New York, one of Wall Street’s key regulators, who charged in a Federal lawsuit filed in October 2013 that she was told to change her negative examination of Goldman Sachs by colleagues, who also obstructed and interfered with her investigation. When she refused to alter her findings, she was terminated in retaliation and escorted from the Fed … Continue reading
Have the Mega Banks Put the U.S. on Course for Another Crash? The Answer May Reside in Nomi Prins’ New Book
By Pam Martens: March 31, 2014 “All the Presidents’ Bankers: The Hidden Alliances that Drive American Power” by former Wall Street veteran, Nomi Prins, is a seminal addition to the history of continuity government between the White House and Wall Street from the days of Teddy Roosevelt and the Panic of 1907 right up through the Panic of 2008 and the Presidency of Barack Obama. (Don’t be intimidated by the 69 pages of footnotes; while meticulously researched, this is a captivating read for anyone seeking clarity on why Wall Street can collapse, get bailed out by the taxpayer, cause a Great Recession and still call the shots in Washington.) The hefty hardcover deserves instant classic status for two reasons: like no other tome before, it explains through original archival material why the mega Wall Street banks are coddled by Washington and have been allowed to survive a century of public … Continue reading
Fed Chair Bernanke Held 84 Secret Meetings in the Lead Up to the Wall Street Collapse
By Pam Martens and Russ Martens: March 10, 2014 It’s been over five years since the collapse of iconic Wall Street firms such as Bear Stearns and Lehman Brothers; the insolvency and bailout of AIG and Citigroup; the receivership of Fannie Mae and Freddie Mac; the shotgun marriage of Bank of America and Merrill Lynch. After a 5-year delay, the Federal Reserve has released the full transcripts of its meetings in 2007 and 2008 – the two key years of the crisis. But for unexplained reasons, the Fed Chairman, Ben Bernanke continues to redact 84 meetings from his appointment calendar that occurred between January 1, 2007 and the pivotal collapse of Bear Stearns on the weekend of March 15-16, 2008. At first blush, one might think that Bernanke is attempting to protect the image of the Chairman of the Federal Reserve Board of Governors as independent of any political influence … Continue reading