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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
Congresswoman Katie Porter Tells the Fed that It’s Got a “Big Problem”

By Pam Martens and Russ Martens: November 17, 2020 ~ Last Thursday, during the House Financial Services Committee hearing with federal regulators of banks, Congresswoman Katie Porter of California told the Vice Chairman for Supervision of the Federal Reserve, Randal Quarles, that the Fed has a “big problem.” Porter has a Harvard Law degree and was previously a law professor at the University of California Irvine School of Law. If Porter believes the Fed has a legal problem, it is highly likely it does. Here’s how the exchange between Porter and Quarles went: Porter: “The Fed is largely responsible for dispensing the $500 billion Congress provided as a bailout for corporate America – the biggest bailout in our country’s history, potentially. Using taxpayer dollars to buy bank debt was never part of that plan. In fact, the Federal Reserve stated explicitly in this document [holds up document] that it would … Continue reading
The Fed Says It’s Considering a Central Clearing Facility for the Treasury Market

By Pam Martens and Russ Martens: November 13, 2020 ~ The Vice Chairman for Supervision at the Federal Reserve, Randal Quarles, dropped a bombshell during the House Financial Services Committee hearing held yesterday, but because mainstream media ignores these hearings unless they have something to do with Donald Trump, this critical news went unreported. Congressman Bill Foster of Illinois addressed Quarles with this statement: “The Treasury market is the most liquid fixed income market in the world. It serves as a critical benchmark for other bond markets that are essential. It allows the U.S. Dollar to operate as the world’s dominant reserve currency. That is why it is crucial that these financial pipes continue to function well, especially as we continue to fight COVID-19 and we work to provide fiscal relief to millions of struggling families and small businesses. “When the Fed has to step in to support the market … Continue reading
Federal Regulators Have Gutted Safety and Soundness Rules for the Biggest Wall Street Banks

By Pam Martens and Russ Martens: November 12, 2020 ~ Last week, the New York Times’ Emily Flitter, Jeanna Smialek and Stacy Cowley provided an excellent rundown of the dangerous rollbacks of regulations on the big banks by federal regulators appointed by Donald Trump. Today, in preparation for a hearing with these regulators, the House Financial Services Committee has released a Memorandum that further outlines how the safety and soundness of the biggest banks have been impacted by changes to regulations. Many of the rollbacks or watering down of the bank rules have occurred quietly or without the attention of mainstream media. Taken together, the rule changes are striking in their reckless disregard for the safety and soundness of a sector that blew itself up just 12 years ago, taking the U.S. economy and U.S. housing market down with it, while getting propped up with the largest taxpayer and Fed bailout in U.S. … Continue reading
The Stock Market Is as Divided as the United States: Dow Soars While Nasdaq Tanks

By Pam Martens and Russ Martens: November 10, 2020 ~ Yesterday was the first trading day for the stock market since the networks called the presidential election for Joe Biden on Saturday. The Dow Jones Industrial Average closed up a whopping 834.5 points — which was actually near its lows of the day. The Dow was up 1,516 points shortly after the opening bell yesterday. The optimistic reaction in the Dow came from two pieces of news. Before the market opened, Pfizer announced that early data from it COVID-19 vaccine trial indicated that the vaccine may be 90 percent effective. That sent Dow futures soaring and a big move at the open of the market. The second piece of news being digested by the stock market was that the Democrats did not get the landslide victory that some polls had suggested. That suggested to the market, rightly or wrongly, that … Continue reading
The Fed Appears to Have Put Its Finger on the Scale for Donald Trump on Friday

By Pam Martens and Russ Martens: November 2, 2020 ~ The U.S. stock market, as measured by the Dow Jones Industrial Average, lost 1,833.97 points last week. The Dow was down every day except Thursday, when it eked out a gain of 139.16. The market was reacting to the following bad news: soaring cases of COVID-19 in the U.S.; a reemergence of the virus in Europe causing business shutdowns there; the failure of the U.S. Congress to pass a new stimulus bill; and a sharply lower price for West Texas Intermediate (WTI), domestic crude oil – which signals a further slowdown in economic activity. (At 7 a.m. this morning, WTI was down further, with a $34 handle.) The stock market’s losses would have likely been greater last week were it not for an intervention staged by the Federal Reserve at 11:00 a.m. on Friday. Here’s what happened and why Americans … Continue reading
Congresswoman Katie Porter Says Fed Is Playing “Kingmaker on Wall Street” and “Appears Corrupt”

By Pam Martens and Russ Martens: October 27, 2020 ~ Congresswoman Katie Porter has never met an overpaid Wall Street billionaire that she couldn’t reduce to a flummoxed whimperer within a few minutes. (See video clip below of Porter and Jamie Dimon, Chairman and CEO of JPMorgan Chase, during an April 10, 2019 House hearing.) Porter has had the Chairman of the so-called “independent” Federal Reserve in her radar since he appeared at a House Financial Services Committee hearing on February 11 of this year. At the hearing, Porter held up a photo of Fed Chair Jerome Powell in black tie outside the mansion of billionaire Jeff Bezos, CEO of Amazon. Porter said this: “Can you imagine how attending a lavish party at Jeff Bezos’ $23 million home, along with Jared and Ivanka and the CEO of JPMorgan Chase, Jamie Dimon, might give off the sense to the public that … Continue reading
Goldman Sachs Criminally Charged by Justice Department – and Its Stock Closes Up $2.49

By Pam Martens and Russ Martens: October 23, 2020 ~ If you needed further proof that crime pays on Wall Street, look at the chart above. Goldman Sachs and its Malaysian subsidiary were criminally charged yesterday by the Justice Department, they admit to the charges, and its stock closed up on the day by $2.49. The U.S. Department of Justice is being played like a fiddle at a tractor meet. Those big white shoe law firms that handle increasingly dirty cases against the mega banks on Wall Street have twice, in a period of just three weeks, managed to get the Justice Department to announce settlements of landmark criminal cases against two of the largest banks on Wall Street on the day of presidential debates when the public and the media are not paying attention to Wall Street. On September 29, the day of the first presidential debate between President … Continue reading
The Fed Did a Lot of Talking Yesterday about a Big Bank Failure: Should We Worry?

By Pam Martens and Russ Martens: October 21, 2020 ~ Turns out the federal government’s plan for dealing with a mega bank failure on Wall Street is no better conceived than the federal government’s plan for dealing with the worst pandemic since 1918. The Federal Reserve issued two press releases yesterday about “large banks.” One read: “Agencies finalize rule to reduce the impact of large bank failures.” The other read: “Agencies issue final rule to strengthen resilience of large banks.” Wait. What? Fed Chairman Jerome Powell has been telling anyone who would listen this year – from Congress to viewers of the Today show – that the large banks have been a “source of strength” during the worst economic downturn since the Great Depression. If that were true (which we’ve questioned from the first time Powell said it) why is the Fed now worrying about a “large bank failure” and … Continue reading
How Criminal Charges Against a Wall Street Icon Went from Front Page News to a Yawn at the New York Times

By Pam Martens and Russ Martens: October 19, 2020 ~ On May 2, 1985 the highest law enforcement officer in the United States, the head of the U.S. Department of Justice, Attorney General Edwin Meese, held a news conference to announce that the sixth largest brokerage firm on Wall Street, E.F. Hutton, was pleading guilty to 2,000 felony counts of wire and mail fraud. It had also agreed to pay criminal fines of $2 million and up to $8 million in restitution to the 400 banks it had defrauded. The fraud had lasted less than two years, from July 1, 1980 and February 28, 1982, and consisted of the following according to the Justice Department: “The essence of the charges was that Hutton obtained the interest-free use of millions of dollars by intentionally writing checks in excess of the funds it had on deposit in various banks.” On the following … Continue reading
New Book Proves U.S. Is Living Under a Disastrous Banking Model from a Century Ago

By Pam Martens and Russ Martens: October 13, 2020 ~ It has been the contention of Wall Street On Parade for more than a decade that today’s so-called “universal banks,” also variously known as megabanks or Global Systemically Important Banks (G-SIBs), are a banking model from hell that was thoroughly discredited in the tens of thousands of transcripts and documents released by the U.S. Senate following its multi-year investigation of that structure in the early 1930s. Now the seminal book proving that theory has just been published. Written by Arthur E. Wilmarth, Jr. and titled Taming the Megabanks: Why We Need a New Glass-Steagall Act, the book brilliantly takes the reader through a riveting guided tour covering the past century and the resurrection of this same disastrous U.S. banking model in 1999. Oxford University Press is the publisher of Wilmarth’s book. We can envision it becoming one of the most … Continue reading