From September 17, 2019 through July 2, 2020, the trading units of the Wall Street megabanks (both domestic and foreign) took a cumulative total of $11.23 trillion in emergency repo loans from the Federal Reserve. The loans were conducted by one of the 12 regional Fed banks, the Federal Reserve Bank of New York – which is literally owned by megabanks, including JPMorgan Chase, Goldman Sachs, Citigroup, Morgan Stanley and others…
There’s a News Blackout on the Fed’s Naming of the Banks that Received Trillions in Emergency Repo Loans; Some Journalists Appear to Be Under Gag Orders…
Four days ago, the Federal Reserve released the names of the banks that had received $4.5 trillion in cumulative loans in the last quarter of 2019 under its emergency repo loan operations for a liquidity crisis that has yet to be credibly explained…
U.S. Mega Banks Were Sitting on $6.56 Billion of Chinese Education Stocks That China Just Eviscerated…
According to their latest 13F form filings with the Securities and Exchange Commission, as of March 31, 2021 the U.S. mega banks on Wall Street held a staggering $6.56 billion in three Chinese education stocks that just had their business model put through a shredder by the Chinese Communist Party…
Both Citigroup and JPMorgan Have Now Received Huge Fines for Crimes the Regulators Won’t Reveal…
Whatever the reason, the darkness that started growing around the crimes committed by the big Wall Street banks during the Obama administration has now evolved into such a complete dark curtain that regulators are refusing to say what the crimes actually are that are being settled for huge amounts of money…
The Fed Announces New Bank Stress Tests: Will Look at What Would Happen if a Major Counterparty Defaulted…
Back in the days when we actually had an Office of Financial Research (OFR) (before its funding and staff were gutted) we learned that the Fed was actually conducting its stress tests all wrong…
Citigroup Names Jane Fraser As First Female CEO of Bank…
Fraser will succeed Mike Corbat, who is retiring in February after more than eight years in the top job, the New York-based bank said in a statement…
Wall Street Banks that Got the Biggest Fed Bailouts Have Been Dogs to Shareholders over the Past 15 Years…
Federal Reserve Chairman Jerome Powell wants Americans to believe that the mega banks on Wall Street that hold trillions of dollars in federally-insured deposits, while peddling everything from high-risk derivatives to junk bonds to precious metals, “are a source of strength” during this economic downturn. The big problem for the Fed is the above two […]
The Fed Rides to the Rescue of JPMorgan and Citi Again – This Time It’s Their Commercial Real Estate Mortgages…
Quietly, on July 13, the New York Fed published a list of asset-backed loans that it had approved for eligibility in one of its emergency lending programs, the Term Asset-Backed Securities Loan Facility, otherwise known as TALF. The New York Fed stuck a smattering of small business loans and one student loan product on the […]
Evidence Suggests U.S. Financial Crisis Started on August 14, 2019…
In the Federal Reserve’s most recent “Supervision and Regulation Report” on the big bank holding companies it “supervises,” the Fed continued its attempts to perpetuate the narrative that “The banking industry came into 2020 in a healthy financial position” and has simply unraveled as a result of the COVID-19 pandemic. That narrative is built on […]
BlackRock Begins Buying Junk Bond ETFs for the Fed Today: It’s Already at Work for the Central Bank of Israel…
It’s off to the races today for BlackRock. The New York Fed, with authority from the Federal Reserve Board and backstopped with taxpayers’ money, will begin the first phase of the Fed’s unprecedented leap into shoring up the sagging prices of investment grade corporate debt and junk bonds. BlackRock has been selected by the New […]
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