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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
Tough Questioning Turns Jamie Dimon into a Piñata at House Hearing
![Katie Porter](https://wallstreetonparade.com/wp-content/uploads/2019/04/Katie-Porter-iii-150x150.jpg)
By Pam Martens and Russ Martens: April 11, 2019 ~ What a difference a day makes. On April 9, the day before JPMorgan Chase CEO Jamie Dimon was to testify at a House Financial Services Committee hearing along with six of his fellow mega bank CEOs, his legions of publicists and handlers still thought there might be a presidential run in his future. Today, not so much. You know just how torturous the day was for Dimon when the worst part wasn’t his being forced to admit that his bank previously accepted African-American slaves as collateral for loans. That line of questioning came from Congressman Al Green of Texas. Green said that his ancestors were slaves and asked Dimon if it was true that JPMorgan Chase had released information in 2005 “indicating that it directly benefited from slavery” and had made loans using slaves as collateral. Dimon said he believed … Continue reading
Here’s Why Wall Street Bank CEOs Started to Sweat Yesterday about Today’s House Hearing
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By Pam Martens and Russ Martens: April 10, 2019 ~ At 8:00 a.m. yesterday, Politico’s Ben White and Aubree Eliza Weaver dropped the news nugget that the nonprofit watchdog, Better Markets, would be releasing one day ahead of today’s House hearing with the CEOs of the largest banks on Wall Street a report titled: “The RAP Sheet for Wall Street’s Biggest Banks’ Crime Spree,” which promised to detail, for the first time, “that of the more than $29 trillion in total bailouts, the six biggest banks in the country (Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo) received more than $8.2 trillion, or nearly one-third of the total bailouts provided to the entire financial system.” Wall Street On Parade has been reporting since 2012 that of the secret $16 trillion bailout loans made at almost zero interest rates by the Federal Reserve during the financial … Continue reading
Wall Street Bank CEOs Head for Grilling Tomorrow on Capitol Hill
![](https://wallstreetonparade.com/wp-content/uploads/2019/04/Maxine-Waters-Chair-of-House-Financial-Services-Committee-Giving-Opening-Remarks-at-Wells-Fargo-Hearing-on-March-12-2019-150x150.jpg)
By Pam Martens and Russ Martens: April 9, 2019 ~ The Democrats are now in charge at the U.S. House of Representatives’ Financial Services Committee and they’re proving that they’re not afraid to take on the legions of Wall Street lobbyists and lawyers in order to do their job for the American people. Tomorrow, Democrats on the Committee will be grilling the CEOs of seven of the largest Wall Street banks. The Republican Committee members, if history is any guide, will be lauding the bankers based on talking points delivered by the banks’ public relations and lobbying firms. Democrats took over the House in January and Congresswoman Maxine Waters became the Chair of the House Financial Services Committee at that time. Waters has served on this Committee for the past 28 years – a period in which she has observed unending frauds against the investing public by the mega banks … Continue reading
Steve Eisman and FrontPoint Were Shorting Wall Street Banks While the Dumb Fed Was Giving FrontPoint Emergency Loans – and that’s not the Worst Part of this Story
![](https://wallstreetonparade.com/wp-content/uploads/2018/08/wall-street-sign-thumbnail-150x149.jpg)
By Pam Martens and Russ Martens: April 8, 2019 ~ Steve Eisman is one of the central characters in the Michael Lewis bestselling book, The Big Short. In the movie of the same name, Steve Carell portrays Eisman’s role under the name Mark Baum. During the financial crisis of 2008, Eisman was working for FrontPoint Partners LLC, a hedge fund unit of Morgan Stanley which has been widely acknowledged to have made a boatload of money shorting subprime collateralized debt obligations (CDOs) filled with subprime residential mortgages. In other words, Eisman and FrontPoint were hoping to profit on American homeowners being unable to pay their tricked-up mortgages and being thrown out on the street. But according to Lewis, Eisman was not just shorting subprime drek – he was also shorting the teetering Wall Street banks, which were, by the way, holding trillions of dollars in Federally insured deposits of Moms … Continue reading
An Open Letter to Australians: Only Glass-Steagall Can Save You from the Banks
![President Franklin Delano Roosevelt Signing the Glass-Steagall Act on June 16, 1933](https://wallstreetonparade.com/wp-content/uploads/2014/12/Present-Franklin-Delano-Roosevelt-Signing-the-Glass-Steagall-Act-on-June-16-1933-150x150.jpg)
By Pam Martens: April 4, 2019 ~ Dear Engaged Citizens in Australia: As both the interim and final report from your Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has confirmed, the good, decent, hardworking people of Australia are under attack from their own banking system in a manner reminiscent of an attack from a foreign invader that wants to destroy the will and financial resources of the citizens in order to gain absolute control of the country. Americans, more than any other people in the world, can understand and relate to the precarious predicament in which you now find yourselves. The devious vices and devices of your banksters to transfer the meager savings of the common man and woman to their own greedy pockets have been laid bare by your Royal Commission. But just as happened here in the United States following the report of … Continue reading
Mega Banks Tell SEC: Derivatives Could Blow Up Wall Street Again
![Wall Street Bank Logos](https://wallstreetonparade.com/wp-content/uploads/2019/02/bank-logos-150-pix-150x97.jpg)
By Pam Martens: April 1, 2019 ~ The most recent 10Ks (annual reports) filed by the largest Wall Street banks covering their financial condition as of December 31, 2018, provide the strongest argument thus far for Congress to enact legislation to separate the Federally insured, deposit-taking commercial banks from the trading casinos on Wall Street. In other words, Congress needs to restore the Glass-Steagall Act, which kept the U.S. financial system safe for 66 years until its repeal in 1999. If the average American knew that the very same banks that blew up the U.S. economy, devastated the housing market, crashed the stock market, threw millions of Americans out of work just a decade ago were warning in their own 10K legal filings with the Securities and Exchange Commission that the same thing could happen again at any moment, there would be mobs with pitchforks in the street. But because corporate … Continue reading
Maxine Waters to Put Wall Street Banks Under Microscope at April 10 Hearing
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By Pam Martens: March 26, 2019 ~ The House Financial Services Committee, chaired by Democrat Maxine Waters, has announced a hearing scheduled for 9:00 a.m. on Wednesday, April 10, titled Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 Years after the Financial Crisis. The title of the hearing is certain to bring sweat to the brows of the CEOs of the five largest Wall Street banks that still hold monster amounts of derivatives: JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley. Have the CEOs of the mega banks agreed to testify or have they offered up a subordinate to launch a charm offensive at the hearing? Or will it simply be progressive academics opining on how dangerous the banks remain or Koch-funded think tanks arguing for more deregulation of the bloated behemoths? Details on who will testify have not yet been provided. There’s no … Continue reading
Jamie Dimon Laments the Plight of the Poor While His Bank Pays 0.02% on CDs
![Jamie Dimon, Chairman and CEO, JPMorgan Chase](https://wallstreetonparade.com/wp-content/uploads/2019/03/Jamie-Dimon-150x150.jpg)
By Pam Martens and Russ Martens: March 25, 2019 ~ JPMorgan Chase’s CEO, Jamie Dimon, gave a CNN interview last week in which he said that the U.S. economy is “fundamentally anti-poor.” Two weeks before that, Dimon boasted in an OpEd for CNN that was co-authored by his fellow Board Member, Mellody Hobson, that the bank was doing all kinds of wonderful things to address the wealth gap among African Americans in the U.S. Under Dimon’s tenure as top dog of JPMorgan Chase over the past 13 years, the bank has excelled at settling its crimes on the cheap, launching a big public relations offensive, then being charged with more crimes, settling on the cheap, and spending more on its public relations offensive to massage both the bank’s and Dimon’s reputation. Many of the charges against JPMorgan Chase relate directly to ripping off Americans who can least afford it. In … Continue reading
Federal Regulator: Wall Street Stock Trading Plunged 88.6 Percent in Q4
![New York Stock Exchange Trading Floor](https://wallstreetonparade.com/wp-content/uploads/2018/08/New-York-Stock-Exchange-Trading-Floor-300pix-150x150.jpg)
By Pam Martens: March 24, 2019 ~ The Office of the Comptroller of the Currency (OCC), the Federal regulator of national banks, which includes the largest banks on Wall Street, quietly issued its quarterly report on trading in cash instruments and derivatives on Friday. The report contained a shocker: stock (equity) trading had plunged 88.6 percent in the fourth quarter of 2018 versus the fourth quarter of 2017 on a consolidated basis at the bank holding companies, which includes the results of their commercial and investment banks. Equally stunning, stock trading was down an even more staggering 91.7 percent from the third quarter of 2018. (See chart above from the report.) This bombshell statistic is something that we have not heard a peep about from either the Wall Street banks on their earnings calls or the business media. In fact, Wall Street banks have been telling business media that their … Continue reading
Fed’s Powell Wasn’t Expecting this Kind of Drama at his Press Conference
![](https://wallstreetonparade.com/wp-content/uploads/2019/03/Jerome-Jay-Powell-Chairman-of-the-Federal-Reserve-Board-of-Governors-Speaks-at-a-Press-Conference-Following-FOMC-Announcement-on-March-20-2019-ii-150x150.jpg)
By Pam Martens and Russ Martens: March 21, 2019 ~ The real drama in the market yesterday was not the 2:00 p.m. release of the Federal Open Market Committee (FOMC) statement to hold rates steady but what happened about twenty minutes into the press conference that began at 2:30 p.m. when Fed Chairman Jerome (Jay) Powell began to answer questions from an intrepid group of reporters. The youthful, fresh-scrubbed faces from well-known media outlets presented a paradoxical contrast to the gritty questions they lobbed at the man who clearly understood that losing his cool could tank the stock market. But despite Powell’s calm exterior, the stock market didn’t like the questions or the responses from Powell. Opacity is treasured by the masters of today’s stock market. Too much transparency or honesty sends hedge funds and dark pools running for the safety of Treasury notes. Not only did the Dow Jones … Continue reading