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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: is the new york fed too conflicted
Long Island Country Club Members Always Knew Peter Madoff Was Guilty
By Pam Martens: June 27, 2012 Peter Madoff, brother of convicted Ponzi artist, Bernard (Bernie) Madoff, will plead guilty this week to conspiracy to commit securities fraud and other offenses according to court papers filed today in Federal court in Manhattan. Peter Madoff worked with his brother as chief compliance officer of the broker-dealer but has in the past denied involvement or knowledge of the Ponzi scheme which was carried out on another floor of the building from where the broker-dealer was housed. But in the tony towns of the North Shore of Long Island, few people have ever bought that story. Since at least 1978, Peter and Bernie Madoff solicited funds for management from wealthy country club members on the North Shore of Long Island. The brothers promised a fixed rate of return of as much as 13 percent on a stock portfolio. It is illegal to guarantee a fixed rate … Continue reading
Trump Makes Second Attempt to Install Wall Street’s Lawyer, Jay Clayton, to Oversee Prosecutions of Wall Street

By Pam Martens and Russ Martens: November 18, 2024 ~ Last week President-elect Donald Trump announced the nomination of Jay Clayton to become U.S. Attorney for the Southern District of New York – the regional office of the U.S. Department of Justice that brings (or passes on bringing) criminal prosecutions against the Wall Street megabanks for their serial looting of the American people. In Trump’s first term as President, Clayton was tapped by Trump to serve as Chairman of the Securities and Exchange Commission – notwithstanding that Clayton had represented 8 of the 10 largest Wall Street banks in the prior three years as a law partner at Sullivan & Cromwell, one of the oldest Wall Street go-to law firms. Clayton returned to Sullivan & Cromwell after his stint at the SEC and currently serves there as Senior Policy Advisor and Of Counsel. When Clayton’s name was first announced by Trump to … Continue reading
The Apple Credit Card from Goldman Sachs Has Been a Co-Branding Nightmare; Now Apple Wants a Divorce

By Pam Martens and Russ Martens: November 29, 2023 ~ The employee at Apple who was put in charge of conducting due diligence on aligning the Apple credit card brand with Goldman Sachs, needs to be immediately demoted to sorting envelopes in the mail room. It has been a match made in hell, generating headlines in the business press over the billions of dollars Goldman Sachs has lost attempting to ramp up a credit card division from scratch while spawning federal investigations into Goldman’s less than timely handling of credit card customer complaints about fraudulent charges, billing errors, refunds, etc. After hundreds of those complaints piled up at the Consumer Financial Protection Bureau (CFPB), the Bureau opened a federal investigation. (The CFPB is the federal agency created to hear directly from defrauded consumers following the 2008 Wall Street-generated financial crisis). In the most recent quarterly report filed by Goldman with the … Continue reading
Apple Is Loaning Its Brand to the Great Vampire Squid to Offer FDIC-Insured Savings Accounts

By Pam Martens and Russ Martens: April 18, 2023 Apple, maker of the iPhone and one of the top brands in the world, has decided to get deeper in bed with Goldman Sachs, a Wall Street trading house with more than 100 years of ignominious history. Goldman Sachs was infamously branded as “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money” by Matt Taibbi in the pages of Rolling Stone. Of all things to offer through Goldman Sachs, Apple thinks it’s a swell idea to offer a high-yielding, FDIC-insured savings account – that is ultimately backstopped by the U.S. taxpayer if Goldman Sachs blows up – which it came close to doing in 2008. Apple’s credit card is already offered through Goldman Sachs. In an SEC filing on February 24, Goldman Sachs acknowledged that its credit card division is … Continue reading
Sam Bankman-Fried, BlockFi and Sullivan & Cromwell: A Viper’s Nest of Conflicts and Intrigue

By Pam Martens and Russ Martens: February 13, 2023 ~ On December 21, Big Law firm Sullivan & Cromwell filed a conflict disclosure with the U.S. Bankruptcy Court in Delaware, where it was hoping to be officially appointed as lead counsel for the bankruptcy estate of Sam Bankman-Fried’s collapsed crypto house of cards – FTX, Alameda Research and its more than 100 opaque affiliates. Judge John Dorsey signed the order making Sullivan & Cromwell lead counsel on January 20, despite a mind-numbing list of conflicts of interests, including extensive past legal work for the FTX group and personal legal work for its now indicted kingpin, Sam Bankman-Fried. The disclosure showed that in addition to FTX and Alameda Research, Sullivan & Cromwell had 10 other current crypto clients, including four major crypto competitors to FTX — BlockFi, Coinbase, Gemini, and Kraken. Damian Williams, the U.S. Attorney for the Southern District of New … Continue reading
FTX Bankruptcy Lawyers Channel their Inner Sam Bankman-Fried – Bill $21,000 for their Meals Over Just 20 Days

By Pam Martens and Russ Martens: February 9, 2023 ~ The shenanigans going on in Judge John Dorsey’s bankruptcy courtroom, which is overseeing the FTX bankruptcy proceedings of Sam Bankman-Fried’s collapsed crypto empire, are reaching levels that should be attracting the attention of federal prosecutors. The head of the newly-created FTX Task Force, U.S. Attorney for the Southern District of New York, Damian Williams, has called the looted FTX customer accounts “one of the biggest financial frauds in American history.” On Monday, February 6, the lead counsel in the bankruptcy case, Sullivan & Cromwell, and its hand-picked CEO for FTX, John Ray, argued vehemently against the appointment of an independent examiner in the FTX matter. The independent examiner has been requested since December 1 by the U.S. Trustee, who works for the U.S. Department of Justice. Sullivan & Cromwell law partner, James Bromley, and Ray, cited the high cost likely to … Continue reading
FTX Bankruptcy Proceedings Thus Far Show a Shocking Miscarriage of Justice

By Pam Martens and Russ Martens: January 12, 2023 ~ To grasp the severity of the miscarriage of justice that occurred yesterday at the hands of Judge John Dorsey in the bankruptcy hearing for collapsed crypto exchange, FTX, one first needs a brief bit of background. The FTX companies that the bankruptcy lawyers are attempting to resuscitate or sell off to other crypto outfits (while the law firms collect millions of dollars in billable hours for their work) are peddling a product – crypto – that is created out of thin air and has no legitimate productive purpose. (See Over 1,600 of the Brightest Scientific Minds in Technology Have Signed a Letter Calling Both Crypto and Blockchain a Sham.) The hundreds of billions of dollars that American investors have been dumped into crypto exchanges, crypto lenders, crypto miners, and crypto banks are not only threatening the safety and soundness of the … Continue reading
A Headline at Politico Declares that the U.S. Can’t Be a Financial Leader without Crypto; The Headline Was Written by a Crypto Firm

By Pam Martens and Russ Martens: July 18, 2022 ~ Yesterday we spotted a headline at the news outlet, Politico, that read: “Meeting the Moment: Without cryptocurrency regulatory approval, the U.S. risks its status as a financial leader.” Posing as actual journalism with a byline by a person named Jennifer Gregory, the article provides a lengthy interview with Michael Sonnenshein, the CEO of Grayscale Investments, a peddler of Bitcoin. Sonnenshein uses the interview to whine about a recent Securities and Exchange Commission decision that didn’t go his way and tout how his powerful outside law firm, Davis Polk, plans to appeal the decision. In small print, the article notes that it is actually “Sponsored by Grayscale Investments.” In other words, it’s an advertisement posing as real journalism. Unfortunately, this co-branding between the Bitcoin company, Grayscale, and the news outlet, Politico, goes much deeper than just this one headline. On March 24 … Continue reading
Senator Sherrod Brown Goes After 0-Count Felon Wells Fargo; Ignores 5-Count Felon JPMorgan Chase

By Pam Martens and Russ Martens: June 1, 2022 ~ Wall Street On Parade was previously a big fan of Senator Sherrod Brown, the Chair of the Senate Banking Committee. Not so much anymore. Brown supported the nutty nomination of Saule Omarova to head the Office of the Comptroller of the Currency (OCC), the regulator of national banks, while attempting to spin the naysayers as part of a smear campaign. So far this year, the Senate Banking Committee has held hearings on tangential areas while ignoring the biggest threats to financial stability in the U.S.: the $200.18 trillion in notional derivatives (face amount) concentrated at just five Wall Street megabanks (JPMorgan Chase, Citigroup, Goldman Sachs, Morgan Stanley and Bank of America). There have been no subpoenas flying from the Senate Banking Committee as the Fed continues to cover up the largest trading scandal in its history and refusing to release to … Continue reading
Credit Unions and Banking Groups Warn of “Devastating Consequences” of a U.S Central Bank Digital Currency

By Pam Martens and Russ Martens: May 31, 2022 ~ Credit union and banking trade groups have released a joint letter to the chair and ranking member of the House Financial Services Committee, warning of “devastating consequences” if the Federal Reserve moves forward with a Central Bank Digital Currency (CBDC). The letter was sent on May 25, one day before the Committee convened a hearing on “Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency.” That hearing took testimony from only one witness, Lael Brainard, the Vice Chair of the Federal Reserve. The fact that credit unions, which frequently serve unionized labor, joined with banking trade groups to sign off on the letter, lends credibility to the “devastating consequences” the letter enumerates of a Central Bank Digital Currency. A CBDC would allow the Federal Reserve to compete for deposits with credit … Continue reading