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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 “Supervision” of Wall Street Has Made It More Dangerous
![Randal Quarles, Vice Chairman for Supervision, Federal Reserve](https://wallstreetonparade.com/wp-content/uploads/2018/08/Randal-K.-Quarles-Vice-Chairman-for-Supervision-Federal__-Reserve-130x150.jpg)
By Pam Martens and Russ Martens: August 23, 2018 ~ The Dodd-Frank financial reform legislation was signed into law on July 21, 2010 as the U.S. was still reeling from the aftermath of the epic 2008 Wall Street crash and economic meltdown. In addition to giving the Federal Reserve enhanced powers to supervise the behemoth bank holding companies on Wall Street, Section 1108 created a new position on the Board of Governors of the Federal Reserve. The legislation reads: “The Vice Chairman for Supervision shall develop policy recommendations for the Board regarding supervision and regulation of depository institution holding companies and other financial firms supervised by the Board, and shall oversee the supervision and regulation of such firms.’’ The President of the United States was mandated to fill this slot and the Fed’s Vice Chairman for Supervision was to give semi-annual testimony to the Senate Banking and House Finance Committees. Under … Continue reading
Will Fed Chair Powell Respond to Trump’s Jabs in His Jackson Hole Speech?
![Fed Chairman Jerome Powell](https://wallstreetonparade.com/wp-content/uploads/2018/06/Powell-II-11-150x150.jpg)
By Pam Martens and Russ Martens: August 21, 2018 ~ The Chairman of the Federal Reserve, Jerome Powell, is slated to deliver a speech on Friday morning at an annual symposium in Jackson Hole, Wyoming. President Donald Trump has made it known that he wants some economic help from the Fed in terms of keeping interest rates low. Speaking of Powell directly, Trump told Reuters yesterday: “I’m not thrilled with his raising of interest rates, no. I’m not thrilled.” All eyes on Wall Street will be watching for any hints in Powell’s speech that he’s sending a message to Trump that he won’t be taking any loyalty oath to the President. But aside from possible coded messaging to Trump to take his jackboot off the Fed’s turf, there are other important reasons to pay attention to the Jackson Hole gathering. It’s called the Federal Reserve Bank of Kansas City’s Economic … Continue reading
Four Critical Changes Needed to Make Wall Street Work for America Again
![NY Stock Exchange Trading Floor-150pix](https://wallstreetonparade.com/wp-content/uploads/2018/08/NY-Stock-Exchange-Trading-Floor-150pix-150x111.jpg)
By Pam Martens and Russ Martens: August 20, 2018 ~ Last Thursday the Securities and Exchange Commission (SEC) issued a statement regarding a new $10.5 million fine against Citigroup. The statement read: “Citigroup’s lax supervision and weak internal accounting controls allowed a handful of rogue traders to mismark positions over several years and, separately, resulted in the unnecessary loss of hundreds of millions of dollars of its shareholders’ assets to fraud.” Lax supervision, weak accounting controls, and losing hundreds of millions of dollars to fraud are not words the American taxpayer wants to be reading about Citigroup in 2018. This is the very same bank that received the largest bailout by the U.S. taxpayer in global banking history following its implosion during the Wall Street crash of 2008 due to grossly faulty internal controls. The reason that Citigroup was bailed out while Lehman Brothers was left to fail was that, … Continue reading
Deutsche Bank and Citigroup Bleed More Equity Yesterday: The Reason Should Concern Us All
![Deutsche Bank Headquarters in Frankfurt, Germany](https://wallstreetonparade.com/wp-content/uploads/2016/10/deutsche-bank-150x150.jpg)
By Pam Martens and Russ Martens: August 16, 2018 ~ Spasms in big Wall Street bank stocks have been happening on a serial basis over the past three years. (See here and here.) Yesterday offered another one of those bank warning signs to a Congress intent on further deregulation of an already dangerously deregulated market. As the stock market grappled yesterday with fears of sinking emerging market currencies leading to loan defaults at European banks that are derivative counterparties to the biggest banks on Wall Street, the Wall Street banking sector was a sea of red. Two banks in particular sold off more than others. Deutsche Bank is the big German lender that trades on the New York Stock Exchange. It closed with a loss of 2.61 percent versus a much milder decline of 0.76 percent in the Standard and Poor’s 500 Index. Posting a final trade of $11.19, Deutsche … Continue reading
The $4 Trillion Answer to Why Turkey Is Rattling Wall Street Banks and Insurers
![](https://wallstreetonparade.com/wp-content/uploads/2018/06/Citi-BankAmerica-JPMorgan-Goldman-Logos-150x92.jpg)
By Pam Martens and Russ Martens: August 13, 2018 ~ On Friday the Dow Jones Industrial Average closed with a loss of 196 points as contagion jitters from Turkey’s worsening situation rattled markets. Among the big Wall Street banks, these were the biggest losers: Citigroup, down 2.39 percent; Morgan Stanley, down 2.12 percent; Goldman Sachs, down 1.78 percent; Bank of America, down 1.30 percent; and JPMorgan Chase closed off by 0.98 percent. Deutsche Bank, the big German lender whose U.S. subsidiary has a big footprint on Wall Street, lost 4.68 percent. Deutsche Bank has now lost 41 percent of its market value since February. But the selloff didn’t stop there. Two big U.S. life insurers also tumbled on Friday. MetLife lost 3.19 percent while Prudential Financial was off by 2.97 percent. What do Wall Street banks and U.S. life insurers have to do with a selloff in Turkey’s currency? Not … Continue reading
Yes, James Freeman, We Do Know How Bad the Federal Reserve Is
![](https://wallstreetonparade.com/wp-content/uploads/2014/10/Federal-Reserves-FOMC-Meeting-in-March-2014-150x150.jpg)
By Pam Martens and Russ Martens: August 10, 2018 ~ Earlier this week, James Freeman, the Assistant Editor of The Wall Street Journal’s editorial page, wrote an opinion piece headlined as “We’ll Never Know How Bad the Federal Reserve Is.” Freeman is also a Fox News contributor so one might be prone to suspect there is that typical right-wing bias to bash the Fed. Freeman, however, has a legitimate beef. His new book, “Borrowed Time: Two Centuries of Booms, Busts and Bailouts at Citi,” with co-author Vern McKinley was published this week and Freeman laments in the article about how the Fed “hides and then destroys documents.” If you’re a journalist attempting to compile a truthful and accurate account about a financial institution or a financial era and a key institution holding those documents refuses to release them, then the American people have lost the ability to exercise oversight of … Continue reading
Koch Advances Its Wall Street Playbook, Gutting the Office of Financial Research
![Dino Falaschetti, Donald Trump's Nominee to Head the Office of Financial Research, Has Close Ties to Two Koch-Funded Front Groups](https://wallstreetonparade.com/wp-content/uploads/2018/08/Dino-Falaschetti-150x150.jpg)
By Pam Martens and Russ Martens: August 9, 2018 ~ As we have previously reported, there is indisputable documentation that Charles Koch, the fossil fuels billionaire who sits at the helm of Koch Industries, is in charge of the de-regulatory agenda in the Trump administration through a web of front groups. More proof came yesterday. Reuters announced that the Trump administration had “formally told” around 40 staff members of the Office of Financial Research (OFR) that “they will lose their jobs as part of a broader reorganization of the agency….” Reuters also reported that the agency’s budget has already been cut by 25 percent “to around $76 million.” Imagine having only $76 million to police an industry where just one of the big Wall Street banks, JPMorgan Chase, had profits of $8.32 billion in its last quarter. Charles Koch has long understood that if you can’t repeal the legislation that … Continue reading
Facebook Opens Door to More Federal Probes by Asking Banks for Data
![Facebook CEO Mark Zuckerberg Testifies Before Congress on April 10, 2018 on His Company's Technology Failings](https://wallstreetonparade.com/wp-content/uploads/2018/07/Facebook-CEO-Mark-Zuckerberg-Testifies-Before-Congress-on__-April-10-2018-on-His-Companys-Technology-Failings-ii-150x150.jpg)
By Pam Martens and Russ Martens: August 7, 2018 ~ Facebook is beginning to resemble one of those frat boys at a boozy party who keeps asking guys to punch him in the stomach to prove his masculinity. At a time when it’s under scrutiny on multiple continents for sharing its users’ personal information without their consent, it has decided to ask big U.S. banks to share their customers’ financial transaction information with Facebook, according to a report yesterday in the Wall Street Journal. The Journal reported that “The social-media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking-account balances, as part of an effort to offer new services to users.” Three of the banks mentioned, JPMorgan Chase, Citigroup and Wells Fargo, have been serially in trouble with Federal regulators for abusing their customers. The idea that these Wall Street … Continue reading
Financial Health of U.S. Consumer Will Determine Severity of the Next Recession
![Total U.S. Household Debt and its Composition as of First Quarter 2018 (Source -- New York Fed)](https://wallstreetonparade.com/wp-content/uploads/2018/08/Total-U.S.-Household-Debt-and-its-Composition-as-of-lst__-Qtr-2018-Source-New-York-Fed-ii-150x150.jpg)
By Pam Martens and Russ Martens: August 6, 2018 ~ Approximately two-thirds of U.S. gross domestic product (GDP) derives from the consumer. Without financially healthy consumers, the economy cannot prosper. In a July 30 interview on the cable news channel, CNBC, Jamie Dimon, the Chairman and CEO of JPMorgan Chase, the largest bank in the U.S., said that “the consumer’s in good shape; their balance sheet’s in good shape.” On May 17 the Center for Microeconomic Data at the Federal Reserve Bank of New York released its Quarterly Report on Household Debt and Credit which raised some notable questions as to whether Jamie Dimon actually has his finger on the pulse of the U.S. consumer. According to the report, “aggregate household debt balances increased in the first quarter of 2018, for the 15th consecutive quarter. As of March 31, 2018, total household indebtedness stood at $13.21 trillion,” which is $536 billion … Continue reading
Wall Street’s Dark Pools Get a Bonanza Wrapped as Reform by the SEC
![](https://wallstreetonparade.com/wp-content/uploads/2018/07/Citi-Dark-Pools-Puzzle-Thumbnail-150x96.jpg)
By Pam Martens and Russ Martens: July 25, 2018 ~ The Securities and Exchange Commission (SEC), which has had two separate Wall Street lawyers at its helm for the past five years (under both the Wall Street- friendly Obama administration as well as the current Trump administration), has released a 558-page document that attempts to pass itself off as reforming Wall Street’s Dark Pools. Instead, it simply tinkers around the meaningless edges of reform. Dark Pools are trading venues that should not exist in an efficient, transparent and honest securities market. They are effectively unregulated stock exchanges being run internally by some of the biggest Wall Street banks on Wall Street: The same banks (like Citigroup, JPMorgan Chase, Goldman Sachs and Merrill Lynch) that have been serially charged with abusing their customers. Instead of sending their stock trades to the New York Stock Exchange or another independent stock exchange, the … Continue reading