-
Recent Posts
- Report: “Flash Flooding Is the Number One Storm-Related Killer in the U.S.” Few Cities or Towns in America Are Built to Survive Its Wrath
- Hurricane Helene Dumped 20 Trillion Gallons of Rain, Destroying Entire Towns in Western North Carolina, Hundreds of Miles from any Coastline
- Half of All Deaths from Hurricane Helene Occurred 485 Miles North of Where It Made Landfall
- What Did Madoff, Jeffrey Epstein and Sanctioned Russian Mercenary Group, Wagner, Have in Common? They All Banked at JPMorgan Chase
- Deadly, Exploding Pagers Force the U.S. to Get Serious About Malware from China in U.S. Products that Are Potential National Security Threats
- Wall Street Has Moved Vast Sums of Its Trading to Its Federally-Insured Banks
- The Stock Market Had a Psychotic Episode After the Fed Rate Cut Yesterday, Plunging 479 Points from the Day’s High
- As Trump Launches a Crypto Firm, FBI Reports Crypto Fraud Has Exploded to $5.6 Billion; Representing Almost 50 Percent of All Financial Fraud
- Everything this Book Predicted on Wall Street Megabanks Ruling their Regulators Is Now Unfolding
- The Fed Just Kicked the Capital Increases for the Dangerous Megabanks and their Derivatives Down the Road for Years
- Intel, Boeing and U.S. Steel May Hold the Secrets to What’s Behind All the Talk of a U.S. Sovereign Wealth Fund
- Trump and Paulson’s Proposal: U.S. Sovereign Wealth Fund (or Another Grifter Bailout)
- A Wall Street Regulator Is Understating Margin Debt by More than $4 Trillion – Because It’s Not Counting Giant Banks Making Margin Loans to Hedge Funds
- After JPMorgan Threatens to Sue, the Fed Cuts Its Capital Requirement on the 5-Count Felon from a Planned 25 Percent Hike to Less than 8 Percent
- 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
Search Results for: Federal Reserve
Derivative Risks Rising: Sell-Off in Interconnected Mega Banks and Insurers
By Pam Martens and Russ Martens: October 3, 2019 ~ The Dow Jones Industrial Average has lost 838 points in the past two days of trading. On a percentage basis, its losses pale in comparison to the losses experienced over the past two days by some of the biggest global banks as well as insurance companies that are derivative counterparties to the big banks. Mega banks continue to be allowed to tie their risky trading gambles to the balance sheets of insurers that also hold life insurance policies and retirement annuities for Moms and Pops across the U.S. by using the insurers as counterparties for their derivative trades. That this is still happening illustrates just how little has changed in the way of enlightened regulation of Wall Street since the banks brought down the big insurer, AIG, in 2008. The U.S. government was forced to seize AIG and institute a … Continue reading
JPMorgan Chase Has a Pattern of Criminality; Now Wall Street Is Pointing to the Bank as a Cause of the Fed’s Emergency Loans
By Pam Martens and Russ Martens: October 2, 2019 ~ Two notable things happened on Monday, September 16, 2019. Rates started to spike in the overnight loan (repo) market, reaching a high of 10 percent the next day and forcing the Federal Reserve to step in as a lender of last resort for the first time since the financial crisis. The Fed has had to intervene every business day since then with overnight loans, funneling hundreds of billions of dollars to its primary dealers, while also providing $150 billion in 14-day term loans to unnamed banks. The other notable thing to occur on September 16 was this: The largest bank in the United States, JPMorgan Chase, had its precious metals desk charged by the U.S. Department of Justice with being a criminal enterprise for approximately eight years as it rigged the prices of gold, silver and other precious metals. The … Continue reading
Tom Mueller’s New Book Shows How Whistleblowers Are Increasingly Left to Do the Job that Law Enforcement Won’t
By Pam Martens and Russ Martens: October 1, 2019 ~ Tom Mueller’s new book, Crisis of Conscience: Whistleblowing in an Age of Fraud is being released today by Riverhead Books, an imprint of Penguin Random House. It’s packed with seven years of research and inspiring personal interviews. Despite its initially intimidating 600-page heft, it’s an enticing read as it connects the dots to how a country like the United States, founded on the premise of “equal justice under law,” as engraved on the front of the U.S. Supreme Court, has become a “banana republic” with only whistleblowers’ pockets stuffed with crinkled documents or secret tape recordings all that stand between resuscitating our democracy or a complete collapse into oligarchy. Mueller builds an incontrovertible case that the United States has become a dystopian society where almost every government entity that a citizen would typically turn to for redress over a lawless … Continue reading
The Repo Loan Crisis, Dead Bankers, and Deutsche Bank: Timeline of Events
By Pam Martens and Russ Martens: September 30, 2019 ~ Last week, as the Fed was carrying out hundreds of billions of dollars in emergency loan operations on Wall Street for the second week in a row – the first such operations since the financial crisis – Deutsche Bank’s headquarters office in Frankfurt, Germany was being raided by police for the second time in less than a year. That’s not the sort of thing that inspires confidence among depositors to keep their money in your bank. Deutsche Bank has been a constant headache for the U.S. financial system because it is heavily intertwined via derivatives with the big banks on Wall Street, including JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley and Bank of America. It has become the dark cloud on the horizon in the same way Citigroup cast a negative pall in the early days of the financial crisis … Continue reading
The Fed Is Offering $100 Billion a Day in Emergency Loans to Unnamed Banks and Congress Is Not Curious Enough to Hold a Hearing
By Pam Martens and Russ Martens: September 27, 2019 ~ The Federal Reserve Bank of New York first initiated its emergency overnight loans to Wall Street this year on Tuesday, September 17, starting off at the rate of $75 billion daily. It then increased its loans by adding, in addition to the $75 billion daily, 14-day term loans in the amount of $30 billion to be offered three times this past week. But after the demand for the first 14-day loan was more than double the $30 billion offered, the New York Fed boosted the next term loans to $60 billion and increased its overnight loans to $100 billion. What will next week bring? When Wall Street can get super cheap loans from the Fed in the tens of billions of dollars with no questions asked by Congress, it will continue upping its demands until the Fed is once again … Continue reading
Wall Street Bank Stocks Closed in a Sea of Red Yesterday as Fed Pumps in Another $105 Billion of Liquidity
By Pam Martens and Russ Martens: September 25, 2019 ~ It was only a matter of time until the public perception of the Federal Reserve having to funnel billions of dollars a day to Wall Street banks as an emergency source of liquidity started to impact the share prices of those same banks. It all caught up with the mega banks yesterday as every single one of their stocks closed in the red. Notably, the German bank, Deutsche Bank, that is heavily interconnected to the behemoths of Wall Street through derivatives, lost the most ground yesterday, closing down 2.70 percent at $7.58 – just $1.14 above its all-time low of $6.44 that it set on August 15. The U.S. banks that were named as being heavily interconnected to Deutsche Bank via derivatives in a 2016 report from the International Monetary Fund (IMF) closed as follows yesterday: Goldman Sachs lost 2.67 percent; … Continue reading
What Has Frightened Wall Street Banks from Lending in the Repo Market?
By Pam Martens and Russ Martens: September 24, 2019 ~ Last Friday the Federal Reserve Bank of New York made it clear that its interventions in the overnight repo lending market were going to be a longer-term action. Call it what you will, the Fed has effectively returned to quantitative easing (QE) where it buys up Treasuries, Federal agency debt and agency mortgage-backed securities (MBS) from financial institutions in exchange for loans. According to the New York Fed, the program has now been extended to at least October 10 and likely thereafter in one form or another. The Fed will be pumping in $75 billion daily in overnight repo loans while infusing $30 billion in 14-day term loans three times this week for a total of $90 billion in term loans. The fact that there is one or more financial firms needing $30 billion on a two-week basis and can’t … Continue reading
JPMorgan Chase Has Billions in CRE Loans Riding on WeWork Surviving
By Pam Martens and Russ Martens: September 23, 2019 ~ WeWork’s business model isn’t workable. Everybody understands that except the Wall Street bank that has the most to lose if WeWork’s initial public offering (IPO) of its stock doesn’t move forward. That bank is JPMorgan Chase, one of the two main underwriters of the IPO, along with Goldman Sachs. WeWork’s business model is to take long-term leases in commercial office buildings and then sub-lease that space under short leases to small businesses, start-ups and freelancers – none of which are particularly known for their ability to pay rent in a downturn. WeWork is currently on the hook for more than $47 billion in long term leases while it has yet to figure out how to make a dime of profits. JPMorgan Chase is so interconnected with WeWork that to a number of minds WeWork looks like little more than a … Continue reading
The Fed’s “Emergency” Actions this Week Were Dated 48 Days Earlier
By Pam Martens and Russ Martens: September 20, 2019 ~ The storyline in the business press is that the lending rate on overnight repos had spiked to an unprecedented 10 percent, necessitating an emergency infusion of $53 billion by the New York Fed on Tuesday to ramp up liquidity for overnight loans and bring down the loan rate. (That was followed with $75 billion more on Wednesday, Thursday and today – raising the question that if the money is going to the same banks, isn’t that a term loan, not an overnight loan? We don’t know, however, if the money is going to the same banks because the Fed, as it did during the 2008 financial crisis, is staying mum about where the money is going.) As it turns out, the Federal Reserve’s Federal Open Market Committee (FOMC) directive that authorized the Tuesday operation was dated July 31, 2019 – … Continue reading
At Press Conference, Fed Chair Powell Refuses to Answer Whether Wall Street Banks Are Too Big to Manage
By Pam Martens and Russ Martens: September 19, 2019 ~ Following a lack of liquidity on Wall Street, which necessitated the Federal Reserve having to provide $53 billion on Tuesday and another $75 billion on Wednesday to normalize overnight lending in the repo market, the Chairman of the Fed, Jerome (Jay) Powell held his press conference at 2:30 p.m. yesterday. The press gathering followed both a one-quarter point cut in the Fed Funds rate by the Fed yesterday as well as the first intervention by the Fed in the overnight lending market since the financial crash. (The Fed had to intervene again this morning, making another $75 billion in repo loans available.) The week’s unsettling events should have provided the basis for reporters to fire questions at the Fed Chair along the following lines: (1) Did the overnight repo lending rate jump to an historical high of 10 percent on … Continue reading