3/19/24: JPMorgan’s Federally-Insured Bank Is Fined $348 Million for Losing Track of “Billions” of Trades
By Pam Martens and Russ Martens: March 19 2024 Jamie Dimon Sits in Front of Trading Monitor in his Office (Source: 60 Minutes Interview, November 10, 2019) On Thursday of last week, two of JPMorgan Chase Bank’s federal regulators fined the riskiest…
3/15/24: Hedge Fund Titan John Paulson Made $1 Billion in an Illegal Goldman Sachs Deal; Trump Is Now Floating Him for Treasury Secretary
By Pam Martens and Russ Martens: Hedge Fund Titan, John Paulson According to headlines at Bloomberg News and Reuters this morning, Donald Trump is floating the notorious hedge fund billionaire, John Paulson, to be his next Treasury Secretary. Paulson has, apparently, earned…
3/14/24: Brace Yourself for the Unraveling of the Stock Market, Banking Sector and the Rise of Bitcoin’s Financial Powerhouse!
By SRH, One of today’s biggest stories was the record net inflow into BTC ETFs yesterday – above $1BN for the first time since inception… Source: Bloomberg These bars are formulated for special skin needs. Our soaps are gentle and…
3/13/24: A New York Times Financial Writer Acknowledges That He Has Been Fabricating Bank Capital Figures for the Past 14 Years
By Pam Martens and Russ Martens: Andrew Ross Sorkin Yesterday, in an emailed newsletter to readers of the New York Times, financial writer Andrew Ross Sorkin effectively admitted that he has had no clue what bank capital actually is for the past…
3/11/24: Jerome Powell Openly Admits That Banks Will Collapse This Year
By SRH, Earlier this week, in a Senate Banking Committee, the esteemed Fed Chair Jerome Powell reluctantly acknowledged that the United States is bound to confront a series of unavoidable banking collapses this year. However, he audaciously asserts that this…
3/8/24: Steve Mnuchin, the Treasury Secretary Under Trump and Known for His Involvement in Foreclosures, Teams up With Hedge Fund Individuals To Acquire a Struggling Bank Backed by Federal Insurance for Just $2 per Share.
By SRH, Steve Mnuchin, the former Treasury Secretary under Trump, has joined forces with his associates from his time as a foreclosure mogul at OneWest and various hedge funds and private equity firms to orchestrate a takeover at the struggling…
3/7/24: Wall Street Mega Banks Have Created a Circular Firing Squad with Credit Derivatives and Capital Relief Trades – with the Fed’s Blessing
By Pam Martens and Russ Martens: On June 11, 2015, the Office of Financial Research (OFR) released a sobering report on how banks were reducing their requirements to hold adequate capital against potential losses by engaging in non-transparent “capital relief trades” with…
3/6/24: 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…
3/5/24: Watchdog, Better Markets, Investigates the Bank that Has Lost 65 Percent of Its Market Value in Two Months and Was Downgraded to Junk by Moody’s
By Pam Martens and Russ Martens: The widely respected banking and Wall Street watchdog, Better Markets, has a new report out on the latest teetering bank holding company, New York Community Bancorp (ticker NYCB). The title of the well-researched report pretty much…
3/4/24: Bank Failures Since 2009–The New Norm Banks Collapse
Earlier in the year Silicon Valley Bank failed March 10 and then Signature Bank failed two days later, ending the unusual streak of more than 800 days without a bank failure. Before Citizens Bank failed Friday, Heartland Tri-State Bank failed…