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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
Financial Experts Release Video on How Wall Street Loots the U.S. Economy
By Pam Martens and Russ Martens: November 10, 2017 If you feel lost in the cacophony of contrasting claims that Wall Street was adequately reformed under the Dodd-Frank legislation of 2010 or that it remains an insidious wealth transfer system for the 1 percent, then you need to invest one-hour of your time to listen carefully to some of the smartest experts in America address the topic. A free one-hour video is now available (see below) which should settle the debate once and for all that the Dodd-Frank legislation of 2010 has failed to deliver the needed reforms to Wall Street’s corrupt culture and fraudulent business models and that nothing short of restoring the Glass-Steagall Act is going to make the U.S. financial system safe again. Don’t let the grainy quality of the video turn you off (it was made from a live webinar): the integrity of the voices will … Continue reading
Does Jerome Powell Hear the Alarm Bells from Flattening Yield Curve?
By Pam Martens and Russ Martens: November 9, 2017 In November of 2016, there was more than 100 basis points (one percent) difference between the yield on the 2-year and the 10-year U.S. Treasury Note. As of this morning, that difference stood at 68 basis points, a dramatic flattening in the yield curve and harkening to the levels seen during the onset of the financial crisis in 2007. 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 risk to the maturity date on his … Continue reading
Weinstein Company Loans: Banks Have Egg on their Face Over Effusive Praise
By Pam Martens and Russ Martens: October 17, 2017 In 2013, when a division of CIT served as a joint lead arranger for a $370 million senior secured credit facility to the Weinstein Company, an executive of the lender, Kevin Khanna, issued a statement effusively praising the management of the Weinstein Company, stating: “The Weinstein Co. is one of the premier Hollywood studios in the world and we are pleased to further expand our relationship with them through this recent financing. As a key player in the film financing sector, we pride ourselves in putting our knowledge to work on behalf of our clients to help them achieve their goals.” Today, the Weinstein Company stands as the premier poster boy for mismanagement of its brand, reputation and franchise as sexual assault and sexual harassment charges, stretching over three decades, have been lodged against its co-founder and key executive, Harvey Weinstein. … Continue reading
Why Have Investigations of Wall Street Disappeared from Corporate Media?
By Pam Martens and Russ Martens: October 16, 2017 Hurricanes, wildfires, the multiple investigations of Russia’s involvement in the 2016 presidential election and the calamity-du-jour in the Trump White House are gobbling up an outsized share of digital and print news pages at corporate media. What’s gone missing is intrepid, in-depth investigations of Wall Street’s latest scam against the public – even at corporate media outlets purporting to focus on Wall Street. Consider today’s front page of the Wall Street Journal: there’s an article on health care; central banks and stimulus; Iraqi forces and Kurdish fighters; how Blackstone Group is on the prowl for retail investors; and a curious report on long-haul truckers cooking up jambalaya and Thai peanut pork (you can’t make this stuff up). There is nothing about an investigation of a mega Wall Street bank; the dangers these behemoths continue to pose to taxpayers and the U.S. … Continue reading
Financial Times Columnist Skewers Wall Street Model in the New York Times
By Pam Martens and Russ Martens: September 28, 2017 Rana Foroohar, an Associate Editor and Global Business Columnist for the Financial Times, penned an OpEd at the New York Times yesterday that was as audacious in its insults to the Times’ richest hometown industry, Wall Street, as it was brilliantly in touch with the abject dysfunction of the U.S. financial system. Foroohar’s thesis is this: “…there’s a core truth about our financial system that we have yet to comprehend fully: It isn’t serving us, we’re serving it.” Foroohar describes in specific detail what Wall Street On Parade has long described as Wall Street’s institutionalized wealth transfer system. (See our articles describing this system under the menu button above titled “Wealth Transfer Schemes.” You may find two particular articles of interest, here and here.) Just how high up the chain of command this “service” to Wall Street goes was deftly captured … Continue reading
Technological Incompetence Appears to be Intentional at Wall Street’s Top Cop
By Pam Martens and Russ Martens: September 25, 2017 When we created the website for Wall Street On Parade, it took us about 30 minutes to add a free plug-in function so that our readers could search the text of every article we have ever written. (See Search box in upper right-hand corner of our menu at the top of this website.) But at Wall Street’s top cop, the Securities and Exchange Commission (SEC), if one wants to search corporate filings, one is limited to a four-year text search. This bizarre restriction inhibits investigative journalists from capably doing their job and connecting dots. This might sound like a small complaint were it not part of a larger pattern of technological failures by the SEC which have allowed Wall Street firms to run amok for decades. The biggest technological failure, of course, is the SEC’s inability to launch a Consolidated Audit … Continue reading
Toys ‘R’ Us Bankruptcy: Another Wall Street Debt Slave Falls
By Pam Martens and Russ Martens: September 19, 2017 The year 2017 is likely to be remembered for devastating hurricanes and storm surges, waves of retail bankruptcies amidst record-setting household debt and a stock market that carelessly sailed through these dangerous waters to record highs. Toys ‘R’ Us was the latest in a growing string of retail bankruptcies to hit the mat last evening. Its bonds have been telegraphing trouble for some time, with one bond due next year careening from 97 cents on the dollar to 22 cents in a little more than two weeks. On September 6, Wolf Richter at WolfStreet.com provided the short narrative of how Toys ‘R’ Us found itself driving toward the ditch. Citing its leveraged buyout in 2005 by private equity firms Bain Capital, KKR & Co. and real estate firm Vornado Realty Trust, Richter wrote: “So here’s what the three PE firms did … Continue reading
Wall Street Flacks Have an Increasingly Murky Presence in U.S. Media
By Pam Martens and Russ Martens: September 14, 2017 Yesterday, one of our readers sent us a link to an article at Real Clear Politics by Allan Golombek which makes the same error-filled assertions as those of Andrew Ross Sorkin at the New York Times: that the repeal of the Glass-Steagall Act did not lead to the U.S. financial crisis of 2007-2010. Golombek’s bio at the end of the article says only that he is “a Senior Director at the White House Writers Group.” A check at the firm’s website shows it to be an organization that freely admits to being paid by corporations and other special interests to advance their position in the media. The firm states: “Whether in a campaign or a crisis, we help our clients determine how best to define their messages for media acceptance and then disseminate those messages for maximum exposure and impact.” There … Continue reading
Jamie Dimon Knows a Fraud When He Sees It – Outside of His Bank
By Pam Martens and Russ Martens: September 13, 2017 Jamie Dimon became Chief Executive Officer of JPMorgan Chase on December 31, 2005. An inordinate amount of frauds have been perpetrated inside his bank since that time, none of which the eagle-eyed Dimon spotted. But Dimon says he knows a fraud when he sees one outside of his bank. Yesterday, he took on the cryptocurrency known as Bitcoin, calling it a fraud. At a banking conference on Tuesday, Dimon said that “Bitcoin will eventually blow up. It’s a fraud. It’s worse than tulip bulbs and won’t end well.” We’re not saying Dimon is wrong about Bitcoin. In fact, more than three years ago Wall Street On Parade compared Bitcoin to the tulip bulb bubble and explained in crystal clear terms how it differs from a real currency, such as the U.S. dollar. But we are saying that Dimon’s super sleuth nose … Continue reading
Wall Street Is Attempting to Clone Loyal, Non-Whistleblower Workers
By Pam Martens and Russ Martens: September 12, 2017 Last month, Reuters reported that Goldman Sachs was planning “to begin” using personality tests to assist it in hiring personnel “in its banking, trading and finance and risk divisions.” It’s highly unlikely that Goldman Sachs is just beginning to use personality tests since other major firms on Wall Street have been using them for at least three decades – and not in a good way. The Reuters article was penned by Olivia Oran, who also wrote in June of 2016 that major Wall Street firms such as Goldman Sachs, Morgan Stanley, Citigroup and UBS were “exploring the use of artificial intelligence software to judge applicants on traits – such as teamwork, curiosity and grit.” The article further noted that one of the goals of the artificial intelligence software is to “avoid the expense of problem hires and turnover…” All of the … Continue reading