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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: JPMorgan
Senate Banking Chair Sherrod Brown Sends Letters to Wall Street Banks on the Archegos Blowup and Opens a Big Can of Worms, Including Antitrust Issues

By Pam Martens and Russ Martens: April 9, 2021 ~ Yesterday, Senator Sherrod Brown, the Chair of the Senate Banking Committee, released the content of letters he had sent to Goldman Sachs, Morgan Stanley, Credit Suisse and Nomura regarding their interactions with Archegos Capital Management. Archegos is the hedge fund styled as a “family office,” that is making headlines around the world for blowing itself up within a week’s time while inflicting billions of dollars of losses on what are supposed to be heavily supervised global banks. The letters to Goldman Sachs, Morgan Stanley and Nomura were addressed to their CEOs while the letter to Credit Suisse went to its General Counsel. All four of the letters contained the same ten questions, with only minor variations. Questions five, six and seven of Brown’s letter open some very thorny subjects that could have serious legal ramifications for the banks involved. Question five … Continue reading
Morgan Stanley Has Been Strangely Quiet on Its Exposure to Archegos Capital, the Hedge Fund that Blew Up Last Week. Here’s Why.

By Pam Martens and Russ Martens: March 31, 2021 ~ On March 9 Morgan Stanley announced that it had been “recognized for industry-leading risk management technology.” Three weeks later it has landed in the middle of one of the biggest hedge fund blowups since the financial crisis of 2008, raising serious questions about how it manages risk. Adding to the embarrassment for both Morgan Stanley and its bank holding company supervisor, the Federal Reserve, the Chairman and CEO of Morgan Stanley, James Gorman, sits on the Board of Directors of the New York Fed, to whom the Fed has outsourced much of its oversight of the Wall Street banks. A look at Morgan Stanley’s $647 billion in stock portfolio holdings that it filed with the Securities and Exchange Commission for the quarter ending December 31, 2020 explains why Morgan Stanley has been so strangely silent as the Archegos scandal has played … Continue reading
A Massive Increase in Trading in GameStop by Dark Pools Owned by the Mega Wall Street Banks Coincided with the Spike in its Share Price

By Pam Martens and Russ Martens: March 26, 2021 ~ If the Securities and Exchange Commission is not taking a hard look at the involvement of Dark Pools owned by the biggest banks on Wall Street during the meteoric spike in the price of GameStop shares in late January, then we have to conclude that it doesn’t want to actually get at the truth. Wall Street On Parade spent one hour combing through the Dark Pool trading data available through Wall Street’s self-regulator, FINRA, and the evidence of Dark Pools’ involvement in the dodgy trading in GameStop is striking. (GameStop is a New York Stock Exchange listed company and it has been trading like a penny stock operated out of a boiler room – raising questions about the integrity of U.S. markets.) FINRA only provides Dark Pool data lumped together for an entire week, instead of on a daily basis. But … Continue reading
On One Day Last Year, the Fed Had $495.7 Billion in Loans Outstanding to Unnamed Wall Street Trading Houses

By Pam Martens and Russ Martens: March 23, 2021 ~ Yesterday the Federal Reserve released its “audited” financial statements with the following caveat, among numerous others: “Due to the unique nature of the Reserve Banks’ powers and responsibilities as part of the nation’s central bank and given the System’s unique responsibility to conduct monetary policy, the Board has adopted accounting principles and practices in the FAM [Financial Accounting Manual for Federal Reserve Banks] that differ from accounting principles generally accepted in the United States of America (GAAP).” The Federal Reserve is the regulator of the largest bank holding companies in the United States and, since December of 2007, has been shoveling trillions of dollars at the trading houses owned by these bank holding companies almost on a non-stop basis, if you include Quantitative Easing (QE) programs 1, 2, 3 and 4 and the repo loan bailout that began on September 17, … Continue reading
House Hearing Provides a Message to Robinhood Traders: Retail Investors Lose Consistently When They Actively Trade their Own Account

By Pam Martens and Russ Martens: March 18, 2021 ~ There were plenty of fireworks during yesterday’s House Financial Services Committee hearing on the ongoing GameStop trading fiasco and two of the major players involved: retail broker-dealer, Robinhood, which offers free trading accounts to novice investors and provides behavioral messaging like a digital display of confetti when they complete a trade; and Citadel Securities, a giant market-maker that pays Robinhood to route the bulk of its orders to it for execution. The most interesting moment of the day arrived several hours into the hearing in the following exchange between Congressman Jim Himes (D-CT) and a hearing witness, Dennis Kelleher, Co-Founder, President and CEO of Better Markets, a Wall Street watchdog that has been working in the public interest for the past decade. Kelleher holds a law degree from Harvard Law School. Himes said he wanted to figure out if “what we’re … Continue reading
Goldman Sachs Just Landed in the Cross-Hairs of the Senate Banking Committee

By Pam Martens and Russ Martens: March 16, 2021 ~ Less than five months ago, Goldman Sachs and its Malaysian subsidiary were criminally charged by the U.S. Department of Justice “for a sweeping international corruption scheme, conspiring to avail itself of more than $1.6 billion in bribes to multiple high-level government officials across several countries so that the company could reap hundreds of millions of dollars in fees.” The case has become infamously known as the 1MDB scandal, named after the Malaysian sovereign wealth fund that was ripped off. Goldman Sachs admitted to the charges and paid a criminal penalty and disgorgement of over $2.9 billion to settle the charges with the Department of Justice. That sum was on top of the $2.5 billion in cash it paid to settle with the government of Malaysia. Stripping shareholders of $5.4 billion of their capital for criminal conduct in the midst of the worst … Continue reading
Watch the Last Four Federal Reserve Chairs Sing their Loyalty to Wall Street

Ask and it shall be given: pic.twitter.com/FcnwtuAJQT — Trevor Chow (@tmychow) March 11, 2021 By Pam Martens and Russ Martens: March 12, 2021 ~ Trevor Chow is a first-year economist and Jardine Scholar at Trinity College, part of the University of Cambridge in England. With his hilarious and profoundly thought-provoking video satire of the four most recent Chairs of the Federal Reserve singing the words to Rick Astley’s 1987 hit single, “Never Gonna Give You Up,” he has immortalized himself with us and, very likely, Nomi Prins, Senator Bernie Sanders and the family of the late, courageous reporter, Mark Pittman of Bloomberg News. All of us have attempted to bring transparency to the wayward path of the Fed. Debuting in what is sure to be the first of many such Fed singing videos are, left to right, former Fed Chairs Alan Greenspan, Ben Bernanke, Janet Yellen and the current Fed Chair, … Continue reading
One Day After the Senate Hearing on GameStop Manipulation, Its Stock Puts on a Wild Show of Manipulation

By Pam Martens and Russ Martens: March 11, 2021 ~ Welcome to the casino where the house always wins. One day after the U.S. Senate Banking Committee held a wide-ranging hearing on the price manipulation that is occurring in the shares of GameStop and other meme stocks, the high frequency traders and hedge funds and Dark Pools that are making a killing on this manipulation poked their fingers directly in the eyes of Senate lawmakers. They put on a wild trading show yesterday that basically said, “catch us if you can.” GameStop is not some penny stock operating out of a boiler room in some grimy backwater of Wall Street. GameStop is a New York Stock Exchange listed stock. It has a market capitalization of $18.48 billion. But the brazen manipulation of its stock, as both the House Financial Services Committee and Senate Banking Committee conduct investigative hearings into who’s behind … Continue reading
More than a Year Later, Americans Have No Idea Where $9 Trillion of Fed Money Went

By Pam Martens and Russ Martens: March 1, 2021 ~ Beginning on September 17, 2019 – months before there was any report of a COVID-19 case anywhere in the world – the Federal Reserve turned on its money spigot to the trading houses on Wall Street. By October 23, 2019 the Fed announced that it was upping these loans to $690 billion a week – again, months before any report of COVID-19 anywhere in the world. Earlier in October 2019, the Fed had also announced that it would be buying back $60 billion a month in Treasury bills. Within a span of six months, the Fed had pumped out a cumulative $9 trillion in loans to Wall Street’s trading houses, according to its own spread sheets, with no peep as to which Wall Street firms were getting the bulk of that money. It’s more than a year later and the … Continue reading
Is Citadel’s Hedge Fund a Harmless $35 Billion Minnow or a $235 Billion Killer Shark?

By Pam Martens and Russ Martens: February 23, 2021 ~ At the end of last Thursday’s 4-hour long hearing on the forces behind the wild trading in shares of New York Stock Exchange-listed GameStop, Congressman Jesus (Chuy) Garcia of Illinois asked Citadel hedge fund billionaire Ken Griffin how much money was managed by his hedge fund. Griffin replied: “We manage approximately $35 billion dollars of assets.” Garcia than suggested that Citadel was systemically important. Since this might be construed to mean that Citadel should be under heightened regulatory oversight, Griffin quickly responded with this: “I believe that our hedge fund would not be in the category as systemically important. With $30-some billion of equity it is simply not at the scale or magnitude of a JPMorgan, Bank of America, Wells Fargo.” To make a proper assessment as to whether Citadel is a little minnow swimming peacefully with the Dolphins or … Continue reading