A new investigation by the International Consortium of Investigative Journalists says JPMorgan Chase & Co., Deutsche Bank AG and several global banks “kept profiting from powerful and dangerous players” in the past two decades even after the U.S. imposed penalties on these financial institutions…
Global Banks Defy U.S. Crackdowns by Serving Oligarchs, Criminals and Terrorists…
The FinCEN Files show trillions in tainted dollars flow freely through major banks, swamping a broken enforcement system…
3-Count Felon, JPMorgan Chase, Caught Laundering More Dirty Money…
The ICIJ bombshell includes the charge that JPMorgan also “processed more than $50 million in payments over a decade, the records show, for Paul Manafort, the former campaign manager for President Donald Trump…
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…
Former Malaysian PM Guilty on All Counts in Sweeping 1MDB Corruption Case; Sentenced to 12 Years in Prison…
Days after Goldman Sachs agreed to fork over nearly $4 billion to the Malaysian government as penance for aiding and abetting the criminals who looted more than $4 billion from 1MDB (a sovereign wealth fund financed by several bond issues underwritten by Goldman Sachs), former Malaysian Prime Minister Najib Razak has been found guilty on […]
$454 Million: Corporate America Floods Social Justice Causes with Cash Amid Floyd Protests…
Corporations are opening up their treasuries to give money to social justice causes, including Black Lives Matter, in the wake of nationwide protests and riots over the death of George Floyd. Many of the big companies are pushing their employees to do the same. Some businesses are donating to controversial bail funds like the Minnesota […]
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 […]
Small Business Rescue Earned Banks $10 Billion in Fees…
Banks handling the government’s $349 billion loan program for small businesses made more than $10 billion in fees — even as tens of thousands of small businesses were shut out of the program, according to an analysis of financial records by NPR. The banks took in the fees while processing loans that required less vetting […]
Americans Are Paying a Tragic Price for Allowing Five Banks to Control the U.S. Economy…
According to the Federal Deposit Insurance Corporation, as of yesterday there were 5,117 federally-insured banks and savings associations in the United States. But in terms of risk to the U.S. economy and financial system, according to the U.S. Treasury’s Office of Financial Research, only five of those banks matter. And as you can see from […]
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