Posts Tagged ‘Mega Banks’
BanksterCrime By Pam Martens and Russ Martens: It is rare for a book to be so comprehensive and insightful that it provides a roadmap for the future – especially when its cast of characters are the lawyered-up megabanks on Wall Street and their legions of lobbyists and public relations flacks. We’re referring to Taming the Megabanks:…
BanksterCrime: By Pam Martens and Russ Martens, The Office of Financial Research (OFR), the federal agency created after the 2008 financial collapse on Wall Street to defog the lenses of federal regulators to prevent a replay of that disaster, has posted frightening graphs on its website as part of its “Hedge Fund Monitor.” Particularly alarming…
The Black Swan Rears Its Head: The Fed Has Negative Capital Using GAAP Accounting BanksterCrime: By Pam Martens and Russ Martens, The Fed’s unprecedented experiments with years of ZIRP (Zero Interest Rate Policy) and QE (Quantitative Easing), where it bought up trillions of dollars of low-yielding U.S. Treasuries and agency Mortgage-Backed Securities (MBS) and quietly parked them…
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…
BanksterCrime: Academic Study Provides Hard Numbers to the Sick, Revolving Door Culture at Goldman Sachs, JPMorgan and Citigroup By Pam Martens and Russ Martens, On January 18, 2019 the Cambridge University Press published a stunning research paper from the Journal of Institutional Economics. The paper provides the hard numbers to support the thesis that federal banking…
Cleary Gottlieb – Outside Counsel to Wall Street’s Serially Bailed Out Megabanks – Tarnishes the FDIC Chair in its So-Called “Independent” Report BanksterCrime: By Pam Martens and Russ Martens, Martin Gruenberg, Chair, Federal Deposit Insurance Corporation (FDIC) Yesterday, the Big Law firm Cleary Gottlieb released its so-called “independent review” of charges of sexual harassment at the…
BanksterCrime: For the First Time in History, the Fed Is Reporting Billions in Losses Weekly; It’s Still Paying High Interest Income to the Mega Banks on Wall Street By Pam Martens and Russ Martens: April 8, 2024 ~ Jerome Powell, Chairman of the Federal Reserve As of April 3 of this year, the Federal Reserve (Fed) has…
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 potentially questionable counterparties. The OFR researchers summarized the problem as follows: “Capital relief transactions may…
3/1/24: The Fed Pretends to Send a Warning to Wall Street’s Mega Banks on Derivatives and Counterparty Risk
BanksterCrime: By Pam Martens and Russ Martens: On Tuesday, the Vice Chair for Supervision at the Federal Reserve, Michael Barr, delivered a speech at a risk management conference in Manhattan. Barr’s objective was to convince conference attendees that the Fed has its eye on the ball when it comes to Wall Street mega banks and their counterparties…
Grab an Easy Chair and Watch 21 Experts Explore the Path from the Collapse of Lehman Brothers to This Spring’s Banking Crisis to the Urgency of Defanging the Mega Banks
BanksterCrime: By Pam Martens and Russ Martens: September 12, 2023 ~ Dennis Kelleher, Co-Founder, President and CEO, Better Markets The outspoken nonprofit watchdog, Better Markets, and its co-founder, President and CEO, Dennis Kelleher, have planned a unique full-day webinar for tomorrow from 9:30 a.m. to 5:00 p.m. ET. (Register here at no cost. You do not need…