Archive for August 2024
New York Community Bancorp Was JPMorgan’s Top Regional Bank Pick for 2024; It’s Lost 73 Percent Y-T-D and Had Its Deposit Rating Downgraded to Junk
By Pam Martens and Russ Martens: New York Community Bancorp’s tumultuous share price descent began on January 31 when the bank filed an 8K form with the SEC indicating a $260 million net income loss in the fourth quarter; a dividend cut from 17 cents to 5 cents; and a $552 million provision for credit losses on commercial…
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BanksterCrime: 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 By Pam Martens and Russ Martens: August 15, 2024 ~ A fascinating new academic paper has been released. Its title is “The Myth of Fed Political Independence.” Its premise…
BanksterCrime: As we approach 2024, the United States banking system faces enormous issues, with figures estimating a staggering $517 billion in unrealized losses threatening the solvency of 63 institutions. This issue has thrown the entire system’s health into sharp focus, raising fears about probable insolvency and the larger economic ramifications. The Federal Deposit Insurance Corporation…
BanksterCrime: These FDIC-Insured Banks Have Lost 69 to 40 Percent of their Market Value Year-to-Date By Pam Martens and Russ Martens: August 13, 2024 ~ Here’s a look at three FDIC-insured banks that have lost 69 percent, 57 percent and 40 percent, respectively, of their share price year-to-date. The decline represents the change from their share…
BanksterCrime: Exposure at Hedge Funds Has Skyrocketed to Over $28 Trillion; Goldman Sachs, Morgan Stanley and JPMorgan Are at Risk By Pam Martens and Russ Martens: According to a report at the U.S. Treasury’s Office of Financial Research (OFR), the Gross Notional Exposure at hedge funds has skyrocketed by 24.5 percent in the span of one…
Exposure at Hedge Funds Has Skyrocketed to Over $28 Trillion; Goldman Sachs, Morgan Stanley and JPMorgan Are at Risk BanksterCrime: By Pam Martens and Russ Martens: According to a report at the U.S. Treasury’s Office of Financial Research (OFR), the Gross Notional Exposure at hedge funds has skyrocketed by 24.5 percent in the span of one…
We Charted the Plunge and Rebound in the Nikkei Versus Nomura and Citigroup; the Correlation Is Frightening
BanksterCrime: By Pam Martens and Russ Martens, Remember the Repo Crisis in the fall of 2019 when the Federal Reserve had to jump in with both feet and make billions of dollars in revolving emergency loans each weekday to the megabanks on Wall Street? And remember when Wall Street On Parade was the only media outlet…
The Debate Disaster and the Supreme Court’s “Chevron” Repeal Have a Money Trail Leading to Charles Koch
BanksterCrime: By Pam Martens and Russ Martens, Charles Koch, Chairman and CEO of Koch Industries It took the New York Times Editorial Board less than 24 hours to assess the political landscape after the disastrous presidential debate last Thursday evening and call for President Joe Biden “to announce that he will not continue to run for…