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Recent Posts
- 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
- Sullivan & Cromwell’s Legal Work for Sam Bankman-Fried’s Crypto House of Fraud Is Getting a Closer Look in Two Federal Court Cases
- Crypto Tries to Recreate the Koch Money Machine to Pack Congress with Shills
- French Fears Ignite Selloff in U.S. Megabanks and Foreign Peers
- Crypto Just Got Exponentially More Dangerous: Meet Fairshake
- Nvidia Hit a $3 Trillion Market Cap Last Week; Dark Pools Are Making Over 300,000 Trades in the Stock Weekly
- The Consumer Financial Protection Bureau Is Making Enemies in All the Right Places
- A Former Exec at Citibank Raises Alarm Bells in Federal Court Over Failed Risk Controls Inside the Bank
- Charles Koch’s Money Is Being Used in Elections in Ways Only Orwell Could Have Imagined
- Freakonomics and Frankenbanks: JPMorgan Chase Sucked Up 18 Percent of All Profits of 4,568 FDIC-Insured Banks in the First Quarter
- Academic Study Provides Hard Numbers to the Sick, Revolving Door Culture at Goldman Sachs, JPMorgan and Citigroup
- $244 Billion of Treasury Debt to Hit the Market Today and Tomorrow as Interest Rates Spike on Ballooning Supply
- CFTC Fines J.P. Morgan Securities — a Fed Primary Dealer — $100 Million for Failing to Surveil Potential Spoofing and High Frequency Trading for Eight Years
- Another FDIC-Insured Bank Got in Bed with Fintech; It’s Now Got a Dumpster Fire and Desperate Pleas from Customers for their Money
- Citigroup Gets Fined $79 Million Two Years After It Caused a $300 Billion Flash Crash in European Stock Markets
- After Weeks of Howling by MAGA Republicans for the Chair of the FDIC “to Resign,” a Democrat Delivers the Decisive Stab in the Back
- The Curious Money Trail Behind the Supreme Court/Clarence Thomas Decision to Rescue a Federal Agency that Wall Street Hates
- Saudi Arabia’s Wealth Fund Dumps Its JPMorgan Chase Stock; Warren Buffett’s Berkshire Hathaway Did the Same in 2020
- One of Jeffrey Epstein’s Protectors at JPMorgan Chase, Mary Erdoes, Has Sold $29 Million of Her Stock in the Bank Since Just Before Epstein’s Arrest in 2019
- Delinquencies on Office Property Loans at Banks Are at 8 Percent While Office Loans the Banks Sold to Investors Show 31 Percent in Trouble
- Goldman Sachs Shines Up Its Swamp Creature Reputation by Rehiring Robert Kaplan as Vice Chairman – the Guy Who Traded Like a Hedge Fund Kingpin While President of the Dallas Fed
- Cleary Gottlieb – Outside Counsel to Wall Street’s Serially Bailed Out Megabanks – Tarnishes the FDIC Chair in its So-Called “Independent” Report
- JPMorgan Chase and Its Regulators Are Hiding Dark Trading Secrets at the Largest and Riskiest U.S. Bank
- Campus Protests Over Gaza Open a Pandora’s Box for Wall Street Megabanks that Underwrote $8 Billion of Israel’s Bonds in March
- Wall Street’s Megabanks Have Trillions of Dollars Off-Balance Sheet, in a Replay of Accounting Hubris that Led to the 2008 Wall Street Collapse
- JPMorgan Remains the Second Largest Money Market Fund Manager, Despite Needing Billions in Money Market Bailouts from the Fed in 2020
- The First Bank Failure of 2024 Leaves a 1-Cent Stock for Investors and $667 Million in Losses for the FDIC
- Catch and Kill Protection Rackets: Trump, Weinstein, Epstein and Wall Street
Search Results for: JPMorgan
The Fed’s Chair and Vice Chair Got Rich at Carlyle Group, a Private Equity Fund with a String of Bankruptcies and Job Losses
![Vulture](https://wallstreetonparade.com/wp-content/uploads/2020/05/Vulture-iii-150x142.jpg)
By Pam Martens and Russ Martens: May 18, 2020 ~ Private equity funds have been variously called “merchants of debt,” “vultures,” or “corporate raiders.” What a private equity fund typically does is to buy up companies by piling debt on the balance sheet, selling off valuable assets like real estate, extracting giant dividends for the private equity partners to the detriment of workers and customers, and then, frequently, letting the company collapse into bankruptcy while laying off thousands of workers or liquidating the whole company. It should give pause to every American that the two top men at the Federal Reserve who are implementing a new $4.54 trillion bailout fund for Wall Street, using $454 billion from taxpayers to absorb the losses, both got rich working for one of the world’s largest such private equity firms: the Carlyle Group. According to his official bio, Fed Chairman Jerome Powell was a … Continue reading
Wall Street Banks Paid $11.7 Billion in Dividends to Investors this Year while Taxpayers Must Absorb $454 Billion of Bank Losses
![Randal Quarles](https://wallstreetonparade.com/wp-content/uploads/2020/05/Randal-Quarles-iii-1-150x150.jpg)
By Pam Martens and Russ Martens: May 15, 2020 ~ Following the Wall Street banking collapse in 2008, the then head of the Federal Deposit Insurance Corporation (FDIC) Sheila Bair wrote the book Bull by the Horns. She described how the Federal Reserve and the Office of the Comptroller of the Currency (OCC) had ignored the systemic problems at Citigroup and allowed this “sick bank” to continue paying out cash dividends. Bair wrote as follows: “By November [of 2008], the supposedly solvent Citi was back on the ropes, in need of another government handout. The market didn’t buy the OCC’s and NY Fed’s strategy of making it look as though Citi was as healthy as the other commercial banks. Citi had not had a profitable quarter since the second quarter of 2007. Its losses were not attributable to uncontrollable ‘market conditions’; they were attributable to weak management, high levels of … Continue reading
Evidence Suggests U.S. Financial Crisis Started on August 14, 2019
![Federal Reserve Building, Washington, D.C.](https://wallstreetonparade.com/wp-content/uploads/2020/05/Federal-Reserve-Building-Washington-D.C.-iii-150x105.jpg)
By Pam Martens and Russ Martens: May 14, 2020 ~ In the Federal Reserve’s most recent “Supervision and Regulation Report” on the big bank holding companies it “supervises,” the Fed continued its attempts to perpetuate the narrative that “The banking industry came into 2020 in a healthy financial position” and has simply unraveled as a result of the COVID-19 pandemic. That narrative is built on the same flimsy house of cards that the New York Times and Andrew Ross-Sorkin built the narrative that the mega banks on Wall Street were not responsible for the 2008 financial collapse. The Fed is desperate to promote this narrative to stop a new Congress next year from holding hearings on why the Fed, for the second time in 12 years, had to engage in trillions of dollars in Wall Street bank bailouts after reassuring Congress for years that the financial system was fine as … Continue reading
The Fed Hasn’t Spent a Dime Yet for Main Street Versus $735 Billion for Wall Street
![Federal Reserve Disbursements to Benefit Wall Street as of May 6, 2020 (Thumbnail)](https://wallstreetonparade.com/wp-content/uploads/2020/05/Federal-Reserve-Disbursements-to-Benefit-Wall-Street-as-of-May-6-2020-Thumbnail-150x110.jpg)
By Pam Martens and Russ Martens: May 13, 2020 ~ The stimulus bill known as the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) was signed into law by President Donald Trump on March 27. Among its many features (such as direct checks to struggling Americans and enhancing unemployment compensation by $600 per week for four months to unemployed workers so they could pay their rent and buy food) the bill also carved out a dubious $454 billion (or 25 percent of the total $1.8 trillion spending package) for the U.S. Treasury to hand over to the Federal Reserve. This was the Faustian Bargain the Democrats had to agree to in order to get the deal approved by the Wall Street cronies in the Senate. If you subtract the $454 billion from the $1.8 trillion total spending package, that left $1.346 trillion for other purposes. But the $454 billion … Continue reading
BlackRock Begins Buying Junk Bond ETFs for the Fed Today: It’s Already at Work for the Central Bank of Israel
![](https://wallstreetonparade.com/wp-content/uploads/2020/05/BlackRock-Thumbnail-150x88.jpg)
By Pam Martens and Russ Martens: May 12, 2020 ~ It’s off to the races today for BlackRock. The New York Fed, with authority from the Federal Reserve Board and backstopped with taxpayers’ money, will begin the first phase of the Fed’s unprecedented leap into shoring up the sagging prices of investment grade corporate debt and junk bonds. BlackRock has been selected by the New York Fed to be the investment manager for these bailout facilities and will begin Phase I today by buying up Exchange Traded Funds (ETFs) containing investment grade corporate bonds as well as junk bonds. Making the situation particularly dicey is that BlackRock just happens to be one of the largest purveyors of said ETFs. The screaming conflict-of-interest that this raises in the minds of many is not ruffling any feathers at the New York Fed (which is itself a bundle of conflicts wrapped in a … Continue reading
Fed Report Shows Magical Thinking on Safety of Wall Street’s Banks
![Wizard of Oz (Thumbnail)](https://wallstreetonparade.com/wp-content/uploads/2020/05/Wizard-of-Oz-Thumbnail-150x137.jpg)
By Pam Martens and Russ Martens: May 11, 2020 ~ The chart above from the November 2019 Federal Reserve report on the condition of the biggest banks in the U.S. shows that almost half were rated unsatisfactory. There have not been any reports since that November report until the latest one from the Fed which was released last week and dated May 2020. The new report carries this headline: “The banking industry came into 2020 in a healthy financial position.” This is part of the Fed’s strategy to lay its abysmal failure to supervise the mega Wall Street banks at the door of the coronavirus pandemic. It’s very easy today to get a totally bogus headline, one that is built completely on magical thinking, flashed across a TV screen in America. As the photo below illustrates, last Friday Steve Liesman of CNBC repeated this magical thinking from the Fed accompanied … Continue reading
Congress Sets Up Taxpayers to Eat $454 Billion of Wall Street’s Losses. Where Is the Outrage?
![Larry Kudlow, White House Economic Advisor, Speaking at Press Briefing March 24, 2020](https://wallstreetonparade.com/wp-content/uploads/2020/05/Larry-Kudlow-White-House-Economic-Advisor-Speaking-at-Press-Briefing-March-24-2020-iii-150x150.jpg)
By Pam Martens and Russ Martens: May 7, 2020 ~ Beginning on March 24 of this year, Larry Kudlow, the White House Economic Advisor, began to roll out the most deviously designed bailout of Wall Street in the history of America. After the Federal Reserve’s secret $29 trillion bailout of Wall Street from 2007 to 2010, and the exposure of that by a government audit and in-depth report by the Levy Economics Institute in 2011, Kudlow was going to have to come up with a brilliant strategy to sell another multi-trillion-dollar Wall Street bailout to the American people. The scheme was brilliant (in an evil genius sort of way) and audacious in employing an Orwellian form of reverse-speak. The plan to bail out Wall Street would be sold to the American people as a rescue of “Main Street.” It was critical, however, that all of the officials speaking to the … Continue reading
Wall Street’s Financial Crisis Preceded COVID-19: Chart and Timeline
![Repo Loans and 10-Year T-Note Yields -- 2008 Crisis Versus 2019 Crisis](https://wallstreetonparade.com/wp-content/uploads/2020/05/Repo-Loans-and-10-Year-T-Note-Yields-2008-Crisis-Versus-2019-Crisis-150x86.jpg)
By Pam Martens and Russ Martens: May 1, 2020 ~ If a reputable polling outfit were to ask Americans what caused the current financial crisis on Wall Street, they would say the coronavirus COVID-19 pandemic. If Americans were asked in the same poll when the financial crisis on Wall Street started, they would tie it to outbreaks of the virus in the U.S. this year. But as the timeline below and the chart above clearly substantiate, the financial crisis on Wall Street began in earnest on September 17, 2019, almost four months before the first death from coronavirus anywhere in the world was reported in China on January 11, 2020 and five months before the first death in the U.S. was reported on February 29, 2020, having occurred one day earlier on February 28. (See the New York Times coronavirus timetable here.) This big disconnect between what people believe about … Continue reading
This Chart Shows How the Fed Manipulated Junk Bonds to Help the Dow
![](https://wallstreetonparade.com/wp-content/uploads/2013/08/Stock-Chart.jpg)
By Pam Martens and Russ Martens: April 29, 2020 ~ Thus far, the highly controversial corporate bond buying programs that the Federal Reserve first announced on March 23 have yet to spend a dime according to a spokesperson for the New York Fed, the regional Fed bank that is overseeing almost all of Wall Street’s emergency bailout programs today as well as during the financial crash of 2007 to 2010. But as the above chart indicates, just a promise from the Fed to spend billions removing toxic waste from Wall Street’s mega banks is enough to put a bid back in the junk bond market. Here’s the skinny on how the Fed propped up both the Dow and the junk bond market with its well-timed announcements on March 23 and April 9. From the close on March 4 to the close on March 23, the junk bond exchange traded fund … Continue reading
Fed Plans to Release Names of Bailout Recipients – Just Not on $9 Trillion in Secret Loans
![Federal Reserve Chair Jerome Powell](https://wallstreetonparade.com/wp-content/uploads/2020/03/Federal-Reserve-Chair-Jerome-Powell-iii-150x150.jpg)
By Pam Martens and Russ Martens: April 24, 2020 ~ The Fed is back to its same ole bait and switch routine. Yesterday, the Federal Reserve issued a press release, which, on the surface, made it sound like the Fed is going to make full disclosure on where its trillions of dollars in money created out of thin air is going. Unfortunately, upon closer inspection, the Fed is saying it will only release the names and details of its programs where the taxpayer is putting up money to absorb losses. That leaves the following programs with no guarantee of timely transparency: the Fed’s repo loan program which has already made more than $9 trillion in super cheap revolving loans to the trading houses on Wall Street; the Fed’s Discount Window which, as of this past Wednesday, has a balance of $33.7 billion that went to unknown banks; the $31.5 billion … Continue reading