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Recent Posts
- Jamie Dimon’s Washington Post OpEd Gets Pummeled at Yahoo Finance
- In the Span of 72 Hours, Four People Tied to a Hewlett-Packard Criminal Case Died in Two Separate Events
- Crypto Took Down Another Federally-Insured Bank and Just Handed Its CEO a 24-Year Prison Sentence
- All the Devils from 2008 Are Back at the Megabanks: Leverage, Off-Balance-Sheet Debt, Over $192 Trillion in Derivatives, Shaky Capital Levels
- New Study Says the Fed Is Captured by Congress and White House — Not the Megabanks that Own the Fed Banks and Get Trillions in Bailouts
- Data from the Fed’s Emergency Funding Program Shows Spring 2023 Banking Crisis Was Far Deeper than Americans Were Told
- These FDIC-Insured Banks Have Lost 69 to 40 Percent of their Market Value Year-to-Date
- Exposure at Hedge Funds Has Skyrocketed to Over $28 Trillion; Goldman Sachs, Morgan Stanley and JPMorgan Are at Risk
- We Charted the Plunge and Rebound in the Nikkei Versus Nomura and Citigroup; the Correlation Is Frightening
- Former U.S. Labor Secretary Says Billionaires Have No Right to Exist Because their Wealth Comes from Five Illegal or Bad Practices
- Citigroup Is Having a Helluva Summer: A Protest on Thursday Will Turn Up the Heat
- Nikkei Has Biggest Drop in History: Here’s What’s Causing the Global Market Selloff
- 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
Search Results for: rap sheet
How Criminal Charges Against a Wall Street Icon Went from Front Page News to a Yawn at the New York Times
![](https://wallstreetonparade.com/wp-content/uploads/2020/09/JPMorgan-Chase-Building-150x112.jpg)
By Pam Martens and Russ Martens: October 19, 2020 ~ On May 2, 1985 the highest law enforcement officer in the United States, the head of the U.S. Department of Justice, Attorney General Edwin Meese, held a news conference to announce that the sixth largest brokerage firm on Wall Street, E.F. Hutton, was pleading guilty to 2,000 felony counts of wire and mail fraud. It had also agreed to pay criminal fines of $2 million and up to $8 million in restitution to the 400 banks it had defrauded. The fraud had lasted less than two years, from July 1, 1980 and February 28, 1982, and consisted of the following according to the Justice Department: “The essence of the charges was that Hutton obtained the interest-free use of millions of dollars by intentionally writing checks in excess of the funds it had on deposit in various banks.” On the following … Continue reading
There’s a Pattern of Corporate Media Censoring News About Wall Street Banks’ Crimes
![Better Markets Releases In-Depth Study on Bailout Dollars and Crime Spree of the Wall Street Mega Banks on April 9, 2019](https://wallstreetonparade.com/wp-content/uploads/2020/09/Better-Markets-Releases-In-Depth-Study-on-Bailout-Dollars-and-Crime-Spree-of-the-Wall-Street-Mega-Banks-on-April-9-2019-iii-150x120.jpg)
By Pam Martens and Russ Martens: September 22, 2020 ~ There are two opposing narratives living side by side in the United States: independent journalists and researchers have documented how the behemoth banks on Wall Street are as crooked as ever while the Federal Reserve Chairman, Jerome Powell, repeatedly tells Congress and the press that these banks are a “source of strength” in this economic crisis. (Never mind that the Fed is flooding these banks with trillions of dollars in cumulative loans at less than 1 percent interest.) Corporate-owned mainstream media, that is dependent on financing from these same banks, prefers the Fed’s alternative version of reality. Wall Street On Parade has repeatedly written about critical reports showing serial corruption at these banks that have been censored by those Pulitzer prize winning media outlets. Yesterday provided another example: the New York Times refused to cover the International Consortium of Investigative … Continue reading
QAnon Joins Hits to Citigroup’s Brand: Dr. Evil Trade; Parmalat “Black Hole”; Enron; SIV Liquidity Puts; and Dracula Stock Options
![](https://wallstreetonparade.com/wp-content/uploads/2019/07/Citi-Logo-100pix.jpg)
By Pam Martens and Russ Martens: September 15, 2020 ~ The business media was abuzz yesterday with reports that two of Citigroup’s federal regulators – the Office of the Comptroller of the Currency and the Federal Reserve – are considering reprimanding the bank for failure to improve its risk management systems. Trust us: there is a lot more to this story than you’re reading about in the main stream press. Citigroup doesn’t do anything small. When it does something bad, it goes all in – sometimes even assigning a code name. Let’s start with the “Dr. Evil” trade. That was actually the code name that Citigroup traders assigned to an attempt to exploit a weakness in a European bond trading system. Citigroup was fined $26 million in 2005 by Europe’s Financial Services Authority for the trades. Citigroup employees gave another code name, “Buca Nero” – Italian for “Black Hole” – … Continue reading
Handed the Reins During Financial Crises: Obama – First Black President, 2009; Jane Fraser – First Female CEO of a Mega Wall Street Bank, Citigroup, 2021
![Jane Fraser, Citigroup CEO](https://wallstreetonparade.com/wp-content/uploads/2020/09/Jane-Fraser-iii-150x150.jpg)
By Pam Martens: September 10, 2020 ~ Leave it to those good ole white men of wealth and privilege to know when to cut and run. President George W. Bush and his Treasury Secretary, Hank Paulson, (former CEO of Goldman Sachs) handed the smoldering ruins of the U.S. economy to the first Black president in the history of the U.S., Barack Obama, on January 20, 2009. That was right in the midst of the Great Financial Crisis and just four months after some of the most iconic names on Wall Street had either collapsed or were forced into shot-gun marriages. We wrote the following in May 2008 during the runup to the election: “Wall Street, known variously as a barren wasteland for diversity or the last plantation in America, has defied courts and the Equal Employment Opportunity Commission (EEOC) for decades in its failure to hire blacks as stockbrokers. Now … Continue reading
Aid to “Badly Managed” States Versus Aid to “Badly Managed” Wall Street Banks
![Great Bank Heist](https://wallstreetonparade.com/wp-content/uploads/2020/04/Great-Bank-Heist-1-150x116.png)
By Pam Martens and Russ Martens: August 14, 2020 ~ According to the official press briefing transcript on August 8, President Donald Trump explained the stalemate between his administration and the Democrats in passing the latest stimulus bill as follows: “…what the Democrats primarily want is bailout money. It has nothing to do with the China virus. It has nothing to do with anything that we’ve been talking about over the last period of time. They want to bailout states that have been badly managed by Democrats, badly run by Democrats for many years — and, in fact, in all cases, many decades. And we’re not willing to do that.” But according to the U.S. Government’s Bureau of Economic Analysis, two of the states making outsized contributions to the GDP of the United States are California and New York. They are just two states out of a total of 50 … Continue reading
Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards
![](https://wallstreetonparade.com/wp-content/uploads/2019/07/Citi-Logo-100pix.jpg)
By Pam Martens and Russ Martens: July 2, 2020 ~ The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does. The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates. Citi played a major role … Continue reading
Fed Chair Powell Attempts to Blame U.S. Inequality on Globalization – Gets Smacked Down by Bloomberg Reporter
![Michael McKee, Bloomberg TV](https://wallstreetonparade.com/wp-content/uploads/2020/06/Michael-McKee-Bloomberg-TV-iii-150x150.jpg)
By Pam Martens and Russ Martens: June 11, 2020 ~ Federal Reserve Chairman Jerome Powell’s press conferences are typically snooze sessions. Yesterday’s virtual press conference got off to a similar start with mainstream media reporters asking about inflation and monetary policy instead of the more critical questions they should have been asking in the midst of the worst labor market and business closures since the Great Depression and food pantry lines that stretch for blocks. Fortunately, two reporters shook things up at the very end of the press conference. Nancy Marshall-Genzer of Marketplace, which airs on public media stations, bluntly asked Powell this: “Is there more the Fed could do to deal with inequality, for example, use the Black unemployment rate as a benchmark.” Powell’s answer was an abomination. First Powell stated that inequality is not related to monetary policy. Next, he decided to target a more specific villain – … Continue reading
Citigroup, an Admitted Felon with a History of Abusing Customers, Is Handling Billions from the Stimulus Bill
![Great Bank Heist](https://wallstreetonparade.com/wp-content/uploads/2020/04/Great-Bank-Heist-1-150x116.png)
By Pam Martens and Russ Martens: April 2, 2020 ~ Yesterday CNBC reported that Citigroup is one of the banks selected by the Small Business Administration to handle billions of dollars earmarked in last week’s stimulus bill to help small businesses get back on their feet and keep their employees paid during the coronavirus crisis. Citigroup’s Citicorp subsidiary was charged with, and pleaded guilty to, a criminal felony count brought by the U.S. Department of Justice on May 20, 2015 for its role in rigging foreign currency trading. Its rap sheet for a long series of abuses to its customers and investors since 2008 is nothing short of breathtaking. (See its rap sheet at the end of this article.) During the financial crash of 2007 to 2010, Citigroup received the largest bailout in global banking history after its former top executives had walked away with hundreds of millions of dollars … Continue reading
New Report Reveals Goldman Sachs’ Crime Wave Under Last Three CEOs (Who Got Obscenely Rich in the Process)
![(Left to right) Three Most Recent CEOs of Goldman Sachs: Henry (Hank) Paulson; Lloyd Blankfein; David Solomon, Current CEO.](https://wallstreetonparade.com/wp-content/uploads/2020/01/Hank-Paulson-Lloyd-Blankfein-David-Solomon-iii-150x52.jpg)
By Pam Martens and Russ Martens: January 29, 2020 ~ Yesterday, the nonprofit Wall Street watchdog, Better Markets, released an in-depth and scathing analysis of the past 20 years at Goldman Sachs. A bold headline summed it up as follows: “$874 Billion in Bailouts, 36 Major Legal Actions, $9.8 Billion in Fines and Settlements with Billions More Coming.” One key takeaway from this crime spree, write the authors, is this: “Goldman Sachs has amassed a RAP sheet showing that the financial crash of 2008 did little if anything to slow the pace of illegal activity that was well underway in the years leading up to the crash. Goldman Sachs was heavily engaged in illegal activity before the crash; they reached new heights of lawlessness in connection with the crash; and they continued to violate the law in the post-crash era….” Senator Bernie Sanders has repeatedly stated that the business model … Continue reading
Citibank, Which Foreclosed on Homes Under an Alias, Illegally Held Homes Off the Market for More than Five Years Says Regulator
![Michael Corbat, CEO of Citigroup Since 2012](https://wallstreetonparade.com/wp-content/uploads/2020/01/Michael-Corbat-ii.jpg)
By Pam Martens and Russ Martens: January 28, 2020 ~ On October 11 of last year, in a bland press release that drew little mainstream media attention, the Federal regulator of national banks, the Office of the Comptroller of the Currency, announced that Citibank had agreed to pay a $30 million fine over charges that it held homes on which it had foreclosed off the market for more than the statutory holding period of five years. Citibank is the federally-insured, deposit-taking bank that is part of the serially-miscreant Wall Street mega bank, Citigroup. The action comes at a time when rents are rising dramatically across the U.S. as a result of a shortage of affordable homes to purchase. What is extremely troublesome about the OCC’s action, and which continues a trend among federal bank regulators in the Trump administration, is just how little the regulators are willing to share with … Continue reading