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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
Wall Street Has Placed a Derivatives Noose Around the U.S. Insurance Industry
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By Pam Martens and Russ Martens: June 6, 2018 ~ Several early warning signs emerged in the stock market yesterday. The tech-heavy Nasdaq Composite Index closed at a record high but every major Wall Street bank with large exposures to derivatives closed in the red yesterday. Leading the decliners were Deutsche Bank with a loss of 1.61 percent; Morgan Stanley closed down 1.49 percent; Bank of America lost 0.95 percent while Citigroup, Goldman Sachs and JPMorgan Chase were in the red by less than one percent. But the red ink didn’t stop there. Five of the seven U.S. insurance companies that were singled out in the 2017 Financial Stability Report from the U.S. Treasury’s Office of Financial Research also closed in the red yesterday. The five insurers showing losses of less than one percent were Ameriprise Financial, Hartford Financial Services Group, Lincoln National Corp., Prudential Financial and Voya Financial. Two … Continue reading
Wall Street CEO to Worker Pay Ratios Don’t Capture What’s Going On
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By Pam Martens and Russ Martens: June 5, 2018 ~ The Dodd-Frank financial reform legislation that was passed in 2010 required that publicly traded companies report publicly how much the CEO makes compared to the median salary of workers. The Securities and Exchange Commission, with its close ties to Wall Street, stonewalled for years in passing the final rule and had to be pressured and publicly embarrassed in open letters from members of Congress before it finally implemented the rule. As a result, eight years later, we are finally seeing the hard numbers that define CEO greed in America. In May, Democratic Congressman Keith Ellison from Minnesota’s 5th District released a study on the new data that was being released. The study was titled “Rewarding or Hoarding: An Examination of Pay Ratios Revealed by Dodd-Frank.” Among the key findings in the study were the following: Two-thirds of the richest 1 … Continue reading
Jamie Dimon Goes Way Out of Town for Shareholders’ Meetings: For Good Reason
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By Pam Martens and Russ Martens: May 31, 2018 ~ JPMorgan Chase likes to hold its annual shareholders’ meetings far away from the media glare of New York City’s pesky press corps. Jamie Dimon, Chairman and CEO of JPMorgan Chase, has good reason to want to dodge Manhattan’s investigative reporters – who might start to see a pattern of fraudulent behavior. At the 2011 shareholders’ meeting in Columbus, Ohio more than 1,000 protesters descended on the event to protest the bank’s unsavory foreclosure practices. JPMorgan Chase’s 2013 shareholders’ meeting in Tampa – 1100 miles from New York City — came less than two months after the U.S. Senate’s Permanent Subcommittee on Investigations issued a 300-page report on how JPMorgan Chase had used its bank depositors’ money to gamble in risky derivatives in London, eventually losing $6.2 billion of that money. The 2014 shareholders’ meeting, also in Tampa, came four months … Continue reading
Wall Street Banks Tank Yesterday as Contagion Threat Grows
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By Pam Martens and Russ Martens: May 30, 2018 ~ Big Wall Street bank stocks outpaced the decline in the markets yesterday by a big margin. That’s a serious problem but here’s a bigger problem: if you get your information from mainstream media, you have no idea this happened or what it portends for the U.S. economy. Corporate media (a/k/a “mainstream” media) is obsessed with ratings, clickbait and celebrities behaving badly – which goes a long way in explaining why the U.S. has a billionaire celebrity in the oval office who publicly talks about television ratings when he greets hostages released by North Korea. It’s also now clear why so many members of Congress claimed that nobody could have seen the 2008 financial crisis coming: mainstream media simply refused to heed and report on the many warnings. The same thing happened yesterday. The Standard and Poor’s 500 Index fell by … Continue reading
Welcome to Risk-Off Tuesday as Italy Rattles Markets
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By Pam Martens and Russ Martens: May 29, 2018 ~ U.S. investors have returned this morning from a 3-day Memorial Day break for parades and barbecues to find that turmoil in European stock markets may serve up losses to U.S. portfolios. At 7:18 a.m. this morning, futures on the Dow Jones Industrial Average were projecting a loss of 191 points at the open of trading in the U.S. The turmoil is rooted in a failed coalition government in Italy over the weekend with the prospect for Euro-sceptics gaining more power in a new Italian election in the fall. Italy’s finances are in no condition for a flailing government. It has over 2.3 trillion Euros in outstanding debt. Last Friday the credit ratings agency, Moody’s, placed Italy’s sovereign debt rating under review for a possible downgrade. The rating is already weak at Baa2, just two rungs above junk bond status. Moody’s … Continue reading
SEC Charges Elizabeth Holmes with “Massive Fraud” but Says She Can Head a Public Company in 10 Years
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By Pam Martens and Russ Martens: May 24, 2018 ~ On March 14 the Securities and Exchange Commission charged Theranos founder and CEO Elizabeth Holmes with a “massive fraud.” According to the SEC, Holmes had made wild and false claims about the company’s purportedly revolutionary blood testing device as the company fraudulently raised $700 million from investors. But despite the SEC investigators’ well-developed “massive fraud” charges against Holmes, five days later the SEC let the 30-something woman off the hook with a $500,000 fine, surrender of her shares in the company, and barred her from being an officer or director of a publicly traded company for 10 years. In other words, when Holmes is in her early 40s, she will have the opportunity to once again run another massive fraud and bilk investors. This is exactly the kind of hubris we have come to expect from the SEC. (See related articles … Continue reading
Rollback of Wall Street Reforms Didn’t Just Happen Yesterday
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By Pam Martens and Russ Martens: May 23, 2018 ~ Yesterday the U.S. House of Representatives voted 258-159 to approve a rollback of provisions in the 2010 Dodd-Frank financial reform legislation that grew out of the epic financial collapse of 2008 – which ushered in the greatest economic bust since the Great Depression. The bill originated in the U.S. Senate and is now awaiting the signature of President Donald Trump, who is expected to quickly sign it. If you are thinking that Congress would never have approved this rollback of reforms if Wall Street was still as dangerous as it was in 2008, think again. Members of Congress approved this dangerous giveaway to Wall Street because they simply can’t say no to Wall Street’s political donations, its lobbyists, and those high-paying jobs that might await them if they play their cards right. The Washington Post called the rollback “the most … Continue reading
Michael Cohen Got $3 Million More from Unnamed Sources; Records Vanish
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By Pam Martens and Russ Martens: May 17, 2018 ~ The intrepid investigative reporter, Ronan Farrow, who has a shiny new Pulitzer on his shelf for his investigations into Harvey Weinstein, published an article last night at The New Yorker that should alarm every American. It turns out that it was a law enforcement official who leaked the confidential government file on Donald Trump’s lawyer Michael Cohen out of concern that someone in the government was making other undisclosed files on Michael Cohen’s funny money transactions involving an additional $3 million disappear. Cable news has breathlessly been reporting for days now on the financial file that the law enforcement official leaked to Michael Avenatti, attorney for porn star Stormy Daniels, who was paid $130,000 from Cohen’s secret account – a limited liability corporation established in Delaware with the name Essential Consultants LLC. (“Essential” suggesting that if you want the President’s … Continue reading
What Is the Yield Curve Telling Us About the U.S. Economy?
![The Federal Reserve Building in Washington, D.C.](https://wallstreetonparade.com/wp-content/uploads/2013/12/Federal-Reserve-Building-Washington-D.C.-150x150.jpg)
By Pam Martens and Russ Martens: May 16, 2018 ~ On November 9 of last year, a mere six months ago, we asked the question: “Does Jerome Powell Hear the Alarm Bells from Flattening Yield Curve?” Jerome Powell is, of course, the new Chairman of the Federal Reserve — the U.S. central bank and the body in which the United States has entrusted its monetary policy, for better or worse. We wrote at the time: “As of 7:48 a.m. this morning, the spread between the 10-year Treasury Note (yielding 2.33 percent) and 30-year Treasury Bond (yielding 2.81 percent) is even smaller, at a meager 48 basis points or less than half of one percent. “It is a serious commentary on the bizarre financial times in which we live that a fixed income investor would be rewarded with less than half a percent of additional income to add 20 years of … Continue reading
Did Morgan Stanley Smith Barney File a Suspicious Activity Report on Michael Cohen’s Account?
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By Pam Martens and Russ Martens: May 11, 2018 ~ There’s a guy in Manhattan who’s sleeping about as well as Michael Cohen these days. That’s the broker at Morgan Stanley Smith Barney who opened the brokerage account for Donald Trump’s lawyer, Michael Cohen. According to a document posted at the Twitter page of Michael Avenatti, the lawyer for porn star Stormy Daniels, this fellow may have some explaining to do to the Feds if he didn’t file a Suspicious Activity Report (SAR) with the U.S. Treasury’s Financial Crimes Enforcement Network, known on the street as FinCEN. Avenatti’s document shows the following regarding a Morgan Stanley Smith Barney account: “From July 13, 2017 through September 8, 2017, Mr. Cohen deposited three checks in the amounts of $505,000, $250,000, and $250,000 in his Morgan Stanley account. “Each deposit was remitted from an account held at First Republic Bank in the name … Continue reading