Search Results for: Jamie Dimon

By Pam Martens and Russ Martens: September 25, 2017  When we created the website for Wall Street On Parade, it took us about 30 minutes to add a free plug-in function so that our readers could search the text of every article we have ever written. (See Search box in upper right-hand corner of our menu at the top of this website.) But at Wall Street’s top cop, the Securities and Exchange Commission (SEC), if one wants to search corporate filings, one is limited to a four-year text search. This bizarre restriction inhibits investigative journalists from capably doing their job and connecting dots. This might sound like a small complaint were it not part of a larger pattern of technological failures by the SEC which have allowed Wall Street firms to run amok for decades. The biggest technological failure, of course, is the SEC’s inability to launch a Consolidated Audit … Continue reading →

By Pam Martens and Russ Martens: March 4, 2016  There are 15 U.S. Senators who are members of the U.S. Senate Banking Committee’s Subcommittee on Securities, Insurance, and Investment that has been investigating the charges that the stock market is rigged by the stock exchanges along with dark pools run by large broker-dealers that are operated as opaque, unregulated quasi stock exchanges, high frequency traders at hedge funds, conflicted payment for order flow, and tricked-up order types – to mention just a few of the ways the public investor is getting fleeced. The Subcommittee held a critically important hearing yesterday to review what progress the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), the self-regulatory Wall Street watchdog, were making to rein in the abuses on Wall Street. Despite the lack of trust the public feels toward Wall Street and the abysmal 14 percent approval rating … Continue reading →

By Pam Martens and Russ Martens: January 28, 2016  Yesterday, the U.S. Treasury’s Office of Financial Research (OFR) released its 2015 Annual Report to Congress. OFR was created under the Dodd-Frank financial reform legislation of 2010 to keep the Financial Stability Oversight Council informed on emerging threats to financial stability in the U.S. Perhaps in an effort not to panic our sleeping Congress, or to further aggravate an already volatile stock market, the report said that “the United States financial system has continued to improve and threats to overall U.S. financial stability remain moderate.” From there, it went on to eviscerate that calm assessment with an endless stream of hair-raising concerns. One of those concerns is the interconnectedness of big Wall Street banks – a matter the OFR released a detailed paper on last February. One fact you won’t find in the OFR report is that five of the biggest … Continue reading →

By Pam Martens and Russ Martens: January 25, 2016  Hillary Clinton was stumping in Iowa last week, promising supporters that if she is elected President she will fight to get rid of the U.S. Supreme Court decision, Citizens United, which allows unlimited corporate money to influence elections. At one campaign stop, Hillary said the decision is having “pernicious effects on our electoral system.” Hillary elaborated further on her views in an opinion piece for CNN last week, writing: “It’s time to reclaim our democracy, reform our distorted campaign finance system and restore access to the ballot box in all 50 states. “That starts with reversing Citizens United. And that’s where my comprehensive plan to restore common sense to campaign finance begins. As president, I’ll appoint Supreme Court justices who recognize that Citizens United is bad for America. And if necessary, I’ll fight for a constitutional amendment that overturns it.” That’s … Continue reading →