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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
Two Days of Grilling Ahead for Fed Chair Powell
![Fed Chairman Jerome Powell (Thumbnail)](https://wallstreetonparade.com/wp-content/uploads/2019/11/Fed-Chairman-Jerome-Powell-Thumbnail-130x150.jpg)
By Pam Martens and Russ Martens: February 11, 2020 ~ At 10:00 a.m. this morning, the Chairman of the Federal Reserve, Jerome (Jay) Powell, will take his seat in the Rayburn House Office Building to deliver his semiannual testimony to the House Financial Services Committee and answer a multitude of questions on what the Fed has been up to lately. Powell will repeat the process again tomorrow before the Senate Banking Committee. The public already knows the kinds of questions Democrats are going to lob at Powell tomorrow because Senators Sherrod Brown, Elizabeth Warren, Jack Reed and Tina Smith sent a letter to Powell on February 6, listing the specific questions they want answers to in preparation for the hearing on February 12. The questions are exclusively focused on the Fed’s unprecedented repo loans to Wall Street’s trading houses that began on September 17 of last year and have been … Continue reading
Iowa Caucuses: Only Buttigieg and Klobuchar Seem to Know the Results
![Senator Amy Klobuchar Delivering a Speech to Supporters after the Iowa Caucuses](https://wallstreetonparade.com/wp-content/uploads/2020/02/Senator-Amy-Klobuchar-Delivering-a-Speech-to-Supporters-after-the-Iowa-Caucuses-134x150.jpg)
By Pam Martens and Russ Martens: February 4, 2020 ~ If you stayed up late into the night waiting for the Iowa Caucuses to report on the winner in the Democratic bid for President, you are likely in a foul mood this morning. As of 6:30 a.m. this morning, vote tallies had not been officially released for any of the more than 1600 precincts. That stands in contrast to prior Iowa Caucuses when 25 percent of the votes were reported by 10 p.m. on the same night as the caucuses and 85 percent were reported by 11 p.m. As cable news commentators vented their frustrations last night, shortly after 1 a.m. the Iowa Democratic Party said they would be manually tallying the data to make sure that the results could be reported with “full confidence.” The Iowa Democratic Party had earlier in the evening held a meeting with campaign representatives … Continue reading
Fed Chair Powell Has Gone Rogue on Repo Loans and the Volcker Rule
![Jerome Powell Is Sworn In As Federal Reserve Chairman on February 5, 2018 by Fed Vice Chairman Randal Quarles.](https://wallstreetonparade.com/wp-content/uploads/2018/02/Jerome-Powell-Is-Sworn-In-As-Federal-Reserve-Chair-150x150.png)
By Pam Martens and Russ Martens: February 3, 2020 ~ The Chairman of the Federal Reserve, Jerome (Jay) Powell, regularly states at his press conferences that the Federal Reserve is there to serve the interests of the American people. But his actions regularly undermine the credibility of that statement in a manner not all that dissimilar to Alan Greenspan, whose Fed chairmanship oversaw the gutting of Wall Street banking regulations and ended just before the greatest Wall Street collapse since the Great Depression. Powell goes out of his way to present himself at his press conferences as the quintessential public servant whose only mission is to perform the mandate set out by the elected representatives in Congress while his actions strongly suggest he is a wily rogue agent for Wall Street’s cartel of bank trading houses. Congress set out its mandate for the Federal Reserve and its fellow regulators to … Continue reading
Fed Repos Have Plowed $6.6 Trillion to Wall Street in Four Months; That’s 34% of Its Feeding Tube During Epic Financial Crash
![Jerome Powell, Chairman of the Federal Reserve](https://wallstreetonparade.com/wp-content/uploads/2019/11/Jerome-Powell-Thumbnail-143x150.jpg)
By Pam Martens and Russ Martens: January 27, 2020 ~ According to the data made available on the public website of the New York Fed, since September 17, 2019 it has funneled a cumulative total of $6.6 trillion to some of the 24 trading houses on Wall Street that are known as its “primary dealers.” The giant sum has been sluiced to Wall Street in the form of repurchase agreement (repo) loans without any details being provided to the elected representatives in Congress as to which firms are getting the money or what it’s being ultimately used for. But since the stock market has set repeated new highs since the program launched, some veteran market watchers believe the Fed is fueling a Ponzi-like rally in stocks. When the nonpartisan investigative arm of Congress, the General Accountability Office (GAO), tallied up the cumulative total that the Federal Reserve had secretly sluiced … Continue reading
Jamie Dimon Gets $31.5 Million Pay Despite Bank’s Criminal Charges as U.S. Slides Below Uruguay on Corruption Index
![Jamie Dimon, Chairman and CEO of JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/07/Jamie-Dimon-Film-Grain-100pix.jpg)
By Pam Martens and Russ Martens: January 24, 2020 ~ Yesterday, Transparency International released its annual Corruption Perceptions Index (CPI). The CPI ranks 180 countries and territories by their perceived levels of government corruption, using 13 expert assessments and surveys of business executives. The most corrupt countries rank lower on the scale while a score of 100 represents the least corrupt. This year the United States ranked below Uruguay on the corruption gauge. The report found this about the U.S.: “With a score of 69, the United States drops two points since last year to earn its lowest score on the CPI in eight years. This comes at a time when Americans’ trust in government is at an historic low of 17 percent according to the Pew Research Center.” The least corrupt nations are Denmark, New Zealand and Finland. Patricia Moreira, Managing Director of Transparency International, said this about the report’s … Continue reading
Goldman Sachs: The Vampire Squid’s Alum Control Two Fed Banks, the U.S. Treasury, the European Central Bank and the Bank of England
![Government Sachs (Thumbnail Photo)](https://wallstreetonparade.com/wp-content/uploads/2020/01/Government-Sachs-Thumbnail-Photo-150x150.jpg)
By Pam Martens and Russ Martens: January 23, 2020 ~ The head of the Federal Reserve Bank of Dallas (Robert S. Kaplan), the head of the Federal Reserve Bank of Minneapolis (Neel Kashkari), the Secretary of the U.S. Treasury (Steve Mnuchin), the President of the European Central Bank (Mario Draghi) and the head of the Bank of England (Mark Carney) all have two things in common: they sit atop vast amounts of money and they are all alums of Goldman Sachs. In addition, the immediate past President of the Federal Reserve Bank of New York, William Dudley, which secretly sluiced over $29 trillion to bail out Wall Street banks during the financial crisis and has now opened its money spigot for trillions of dollars more, worked at Goldman Sachs for more than two decades, rising to the rank of partner and U.S. Chief Economist. Goldman Sachs has been variously depicted … Continue reading
Bernie Sanders Hasn’t Quite Captured What Wall Street Does: It’s Actually a Fraud-Monetization System with a Money-Printing Unit Called the New York Fed
![New York Fed Headquarters Building in Lower Manhattan](https://wallstreetonparade.com/wp-content/uploads/2019/08/New-York-Fed-Headquarters-Building-in-Lower-Manhattan-iii100-100x150.jpg)
By Pam Martens and Russ Martens: January 21, 2020 ~ Senator Bernie Sanders has come closer than anyone on the Presidential campaign trail in defining what Wall Street actually does. Sanders has repeatedly stated at his rallies that “the business model of Wall Street is fraud.” That analysis is correct but abbreviated. Sanders needs to go further. It’s not just Wall Street’s business model that has left the United States with the greatest wealth inequality since the Roaring Twenties (a time when Wall Street investment banks were also allowed to own deposit-taking banks). It’s how Wall Street is monetizing that fraud that poses an existential threat to the solvency of the United States and the impoverishment of millions of Americans. The attempted WeWork Initial Public Offering (IPO) of last year was a classic example of how Wall Street can put lipstick on a pig, pass it off as a hot … Continue reading
Here’s Why the New York Fed Doesn’t Want You to See a Photo of Its Wall Street-Esque Trading Floor
![Trading Floor at the New York Fed (Obtained by Wall Street On Parade from a Fed Educational Video)](https://wallstreetonparade.com/wp-content/uploads/2013/11/Open-Markets-Trading-Floor-at-the-Federal-Reserve-Bank-of-New-York-150x150.jpg)
By Pam Martens and Russ Martens: January 20, 2020 ~ The New York Fed is so protective of its surreptitious trading relationship with Wall Street that it previously denied Wall Street On Parade a photo of its trading floor. (We obtained the one pictured here from a Fed educational video.) It is, by the way, the only one of the 12 regional Federal Reserve banks to have a trading floor. The New York Fed has been allowed by Congress to insert itself so deeply in markets that it’s highly possible that history will find it at least partly responsible for the next market implosion. The well-promulgated notion that the Federal Reserve began heavily meddling in the repo loan market on September 17 of last year is a piece of fiction. According to the U.S. government’s own database, residing at the Office of Financial Research (OFR), from 2014 through December 31, … Continue reading
Has President Trump Become the Pied Piper of Wall Street Along with the New York Fed?
![Donald Trump -- Pied Piper to Wall Street (Thumbnail)](https://wallstreetonparade.com/wp-content/uploads/2020/01/Donald-Trump-Pied-Piper-to-Wall-Street-Thumbnail-150x150.jpg)
By Pam Martens and Russ Martens: January 14, 2020 ~ Donald Trump continues to go out of his way to tie his reelection chances to the stock market setting new highs by perpetually taking credit for its gains on his Twitter page. No other sitting U.S. president in history has done that because they have all been aware of how fast trends can change in the stock market. In fact, we recall a previous Republican President, George W. Bush, being dismissive of the stock market, saying “they run it up and they run it down,” or words to that effect. (On Wall Street that’s known as a bull raid and a bear raid.) On January 9 President Trump delivered the message below on his Twitter page, mistakenly referring to a 401(K) as a 409K. The implication is that Trump has rallied the stock market by 70 to 90 percent and … Continue reading
Are the Fed’s Repo Loans Being Repaid by Wall Street’s Trading Houses or Just Rolled Over and Over?
![Trader on the Open Markets Trading Desk at the Federal Reserve Bank of New York](https://wallstreetonparade.com/wp-content/uploads/2013/11/Trader-on-the-Open-Markets-Trading-Desk-at-the-Federal-Reserve-Bank-of-New-York-150x150.jpg)
By Pam Martens and Russ Martens: January 13, 2020 ~ Last Friday, the usually reliable and fact-intensive financial website, Wolf Street, threw a hissy fit over how the Wall Street Journal (and by extension, Wall Street On Parade) is reporting the tallies for the repo loans that the New York Fed has been pumping out every business day since September 17, 2019 to the trading houses on Wall Street. The inflammatory headline blared: “The Wall Street Journal (and Other Media) Should Stop Lying About Repos.” The author of the piece, Wolf Richter, explained his criticism as follows: “Here is the ‘in’ of a repurchase agreement [repo loan]: The Fed buys securities (mostly Treasury securities and some agency mortgage-backed securities) in exchange for cash. This adds liquidity to the market. “Here is the ‘out’ of a repurchase agreement: Every repo matures on a set date when the counterparties are obligated to buy the … Continue reading