Search Results for: Jamie Dimon

By Pam Martens: October 20, 2019 ~ Unbeknown to most Wall Street reporters today, Jamie Dimon played a major role in the 1990s in allowing for the perpetuation of an institutionalized system of sexual harassment and verbal degradation of women on Wall Street. Dimon’s role, which we will detail later in this article, is a critical backdrop for the recent Ken Fisher humiliation of women at an investment conference. On the afternoon of Tuesday, October 8, the money manager Ken Fisher of Fisher Investments was on stage at the Tiburon CEO Summit with Chip Roame, the Managing Partner of Tiburon Strategic Advisors, the host of the investment conference. Attendees at the conference were made up of approximately 200 men and 20 women. Against that backdrop, Fisher apparently felt comfortable on stage to humiliate the women in the audience by comparing the acquisition of investment clients to “trying to get into … Continue reading →

By Pam Martens and Russ Martens: October 17, 2019 ~ Academics and historians who attempt to compare the epic Wall Street crash of 2007- 2010 to the next one that’s inevitably coming won’t be able to count on publicly available articles from Bloomberg News. As we reported on Monday, critical articles by a top investigative reporter at Bloomberg News, Mark Pittman, that exposed the corrupt cronyism between Wall Street and the Federal Reserve have gone missing on the Internet. Just this morning we located yet another key article from Bloomberg News that has just up and disappeared on the Internet. Put this 2008 Bloomberg headline in the Google search box with the quotes included and see what happens: “Citigroup Unravels as Reed Regrets Universal Model.” Bloomberg News informed us that Pittman’s articles are still available on the Bloomberg terminal. That’s a market data and news terminal that hundreds of thousands … Continue reading →

By Pam Martens and Russ Martens: September 17, 2019 ~ Yesterday, three traders at JPMorgan Chase, the bank headed by Jamie Dimon, got smacked with the same kind of criminal felony charge that was used to indict members of the Gambino crime family in 2017. The charge is racketeering and falls under the Racketeer Influenced and Corrupt Organizations Act or RICO. According to the Justice Department, the traders engaged in a pattern of rigging the gold, silver and other precious metals markets from approximately May 2008 to August 2016. One of the traders, Michael Nowak, was actually a Managing Director at the bank and the head of its Global Precious Metals Desk. The other two traders are Gregg Smith and Christopher Jordan. RICO is typically used to indict mobsters – which makes its use against employees of the largest bank in America a very disquieting event. But even more disquieting … Continue reading →

By Pam Martens and Russ Martens: August 23, 2019 ~   The WeWork IPO preliminary prospectus was filed last week with the Securities and Exchange Commission (SEC) and the company has been getting savage reviews ever since. WeWork is a commercial real estate company leasing out office space but is attempting to mesmerize the public into believing it is some genius new-age thinker. JPMorgan Securities LLC, a unit of JPMorgan Chase, and Goldman Sachs & Co. are listed as lead underwriters on the IPO. Scott Galloway, a professor at NYU’s Stern School of Business, wrote on his blog that “bankers (JPM and Goldman) stand to register $122 million in fees flinging feces at retail investors….” What has not been crystallized as yet, however, is how Jamie Dimon, Chairman and CEO of the largest bank in the U.S., JPMorgan Chase, sits smack in the middle of this mess. Dimon should definitely … Continue reading →

By Pam Martens and Russ Martens: July 23, 2019 ~ Yesterday afternoon, Jamie Dimon had his world rocked. And not in a good way. Dimon is the Chairman and CEO of the largest bank in the United States, JPMorgan Chase, which has over 5,000 retail branches blanketing the U.S. and has scooped up $1.6 trillion in deposits, much of it from moms and pops who have no idea that the bank is a three-time felon. When you’re a 3-count felony bank and still on probation until January of 2020, you really don’t want to see your name appear in the New York Times connected to the most radioactive felon in the United States right now, Jeffrey Epstein, the man newly indicted on July 6 on charges of sex trafficking of underage girls and sexually assaulting dozens of them. But that’s what happened yesterday afternoon. The New York Times published a … Continue reading →

By Pam Martens and Russ Martens: April 11, 2019 ~ What a difference a day makes. On April 9, the day before JPMorgan Chase CEO Jamie Dimon was to testify at a House Financial Services Committee hearing along with six of his fellow mega bank CEOs, his legions of publicists and handlers still thought there might be a presidential run in his future. Today, not so much. You know just how torturous the day was for Dimon when the worst part wasn’t his being forced to admit that his bank previously accepted African-American slaves as collateral for loans. That line of questioning came from Congressman Al Green of Texas. Green said that his ancestors were slaves and asked Dimon if it was true that JPMorgan Chase had released information in 2005 “indicating that it directly benefited from slavery” and had made loans using slaves as collateral. Dimon said he believed … Continue reading →

By Pam Martens and Russ Martens: April 3, 2019 ~ Since March 9 of last year, Bloomberg News has published over 80 negative articles on the mega bank Wells Fargo. Some of the more recent headlines are: Wells Fargo CEO Abruptly Steps Down, Succumbing to Scandals; Wells Fargo’s CEO Disputes Claim His Bank Is Too Big to Manage; Elizabeth Warren on Wells Fargo CEO’s Departure: ‘About Damn Time’. Judging by the reporting, one would think that Wells Fargo is either the most dangerous U.S. mega bank or the most criminal. But according to Federal regulators, that distinction goes to JPMorgan Chase. But oddly enough, Jamie Dimon, the Chairman and CEO of JPMorgan Chase, has been canonized by Bloomberg News for years, effectively endorsing him as the all-wise and customer-focused oracle of Wall Street. Wells Fargo has not been charged with a criminal felony count. Jamie Dimon, on the other hand, has … Continue reading →

By Pam Martens and Russ Martens: March 25, 2019 ~ JPMorgan Chase’s CEO, Jamie Dimon, gave a CNN interview last week in which he said that the U.S. economy is “fundamentally anti-poor.” Two weeks before that, Dimon boasted in an OpEd for CNN that was co-authored by his fellow Board Member, Mellody Hobson, that the bank was doing all kinds of wonderful things to address the wealth gap among African Americans in the U.S. Under Dimon’s tenure as top dog of JPMorgan Chase over the past 13 years, the bank has excelled at settling its crimes on the cheap, launching a big public relations offensive, then being charged with more crimes, settling on the cheap, and spending more on its public relations offensive to massage both the bank’s and Dimon’s reputation. Many of the charges against JPMorgan Chase relate directly to ripping off Americans who can least afford it. In … Continue reading →

By Pam Martens and Russ Martens: September 20, 2018 ~ Michael Bloomberg served three terms as New York City’s Mayor from January 2002 to January 2014. In 2009, the New York Times reported that Bloomberg had spent “$261 million of his own money” in order to get elected to those three terms as Mayor. When Bloomberg took office, there was a two-term limit in place which had been voted on in public referendums in 1993 and 1996. But two years before Bloomberg’s second four-year term ended, he asked the City Council to repeal the two-term limit to allow him to serve a third term. Because voters had already expressed their will in a public referendum twice, numerous members of the City Council felt it would be unethical for them to repeal that decision and that the matter should be determined by another voter referendum. But the City Council went forward … Continue reading →

By Pam Martens and Russ Martens: May 31, 2018 ~ JPMorgan Chase likes to hold its annual shareholders’ meetings far away from the media glare of New York City’s pesky press corps. Jamie Dimon, Chairman and CEO of JPMorgan Chase, has good reason to want to dodge Manhattan’s investigative reporters – who might start to see a pattern of fraudulent behavior. At the 2011 shareholders’ meeting in Columbus, Ohio more than 1,000 protesters descended on the event to protest the bank’s unsavory foreclosure practices. JPMorgan Chase’s 2013 shareholders’ meeting in Tampa – 1100 miles from New York City — came less than two months after the U.S. Senate’s Permanent Subcommittee on Investigations issued a 300-page report on how JPMorgan Chase had used its bank depositors’ money to gamble in risky derivatives in London, eventually losing $6.2 billion of that money. The 2014 shareholders’ meeting, also in Tampa, came four months … Continue reading →