2/16/24: Banks Are Being Rocked Again as Real Estate Losses Mount
By Anna Cooban, CNN 4 minute read London CNN — Nearly a year on from a banking crisis that led to the collapse of three US regional lenders and the emergency takeover of Credit Suisse in Europe, a fresh chill…
2/15/24: Citigroup Is Having a Very Bad Week; Regulators Are Breathing Down Its Neck
By Pam Martens and Russ Martens: Sanford (Sandy) Weill, the Man Who Walked Away from Citigroup a Billionaire Before Its Collapse At the exact moment that the stock market closed on Monday, Reuters dropped a bombshell in Warren Buffett’s lap with news…
2/14/24: Five Wall Street Banks Hold $223 Trillion in Derivatives — 83 Percent of All Derivatives at 4,600 Banks
By Pam Martens and Russ Martens: February 13, 2024 ~ According to the Financial Crisis Inquiry Commission (FCIC), derivatives played a major role in the financial crash of 2007 to 2010 in the United States, the worst financial crisis in the U.S….
2/12/24: The U.S. Treasury’s Financial Crisis Warning Bell Didn’t Ring Before the Repo Crisis of 2019 or This Year’s Bank Runs
BanksterCrime: By Pam Martens and Russ Martens: The Office of Financial Research (OFR) is a unit of the U.S. Treasury Department. OFR was created as part of the Dodd-Frank financial reform legislation of 2010 to keep the Financial Stability Oversight Council…
2/9/24: The Bank Crash Is Near, NYCB Downgraded to Junk; Shocking Charts for Citigroup, Barclays and Deutsche Bank
By SRH, Soon after the three bank failures, Joe Biden said “Americans can have confidence that the banking system is safe” and “your deposits will be there when you need them.” Treasury Secretary Janet Yellen says the U.S. financial sector…
2/6/24: Jamie Dimon Has Spent $117 Billion Propping Up JPMorgan’s Share Price with Buybacks in 10 Years; He’s Counting on Trump’s MAGA Crowd to Rescue Him
By Pam Martens and Russ Martens: February 5, 2024 ~ Jamie Dimon, Chairman and CEO of JPMorgan Chase On January 19, Jamie Dimon stunned CNBC viewers when he launched into what sounded like a TV commercial for Republican Presidential candidate and 91-count…
2/2/24: Regional Bank Stocks Are Crashing Again…
by Tyler Durden Yesterday it was NYCB that grabbed the headlines and spoiled Powell’s day. As we detailed here (and here), the banking crisis never went away and it now appears the rest of the market realizes that too as…
2/1/24: Senator Sherrod Brown Takes on the Fed’s Support of Wealth Stripping the Middle Class
By Pam Martens and Russ Martens: Senator Sherrod Brown Smart Americans have found two ways to outwit the wealth extraction machinery on Wall Street. They buy a home and build its value over time with sweat equity; and/or they start their own…
1/30/24: The Fed Has a Dirty Little Secret: It’s Been Allowing the Wall Street Mega Banks to Calculate their Own Capital Requirements
By Pam Martens and Russ Martens: Michael Barr, Vice Chair for Supervision, Federal Reserve On July 27 of last year, the Vice Chair for Supervision at the Federal Reserve Board of Governors, Michael Barr, made the following statement as part of the…
1/26/24: The Battle Over Capital at the Mega Banks Must Expand to Breaking Them Up
By Pam Martens and Russ Martens: Last Thursday, 12 Democrats in the U.S. Senate sent a deeply insightful letter on a subject most Americans have never discussed around their kitchen table: adequate capital levels at the Wall Street mega banks that came…