The Federal Reserve Bank of New York (New York Fed) made the astonishing announcement last Thursday that it will be pumping a cumulative $2.93 trillion into Wall Street trading houses (primary dealers) between December 16 and January 14. That’s on top of the $360 billion of liquidity it is pumping into the markets by buying […]
New York Fed Plans to Throw $2.93 Trillion at Wall Street’s Trading Houses Over Next Month as New York Times Remains Silent…
One has to wonder how much money it would take for the New York Fed to throw at Wall Street before the New York Times reports to its readers on the biggest Wall Street bailout by the Fed since the financial crisis. Last Thursday, December 12, the New York Fed announced that over the next […]
BIS Drops a Bombshell: Four U.S. Mega Banks Are Core of Repo Loan Crisis…
Yesterday, the Bank for International Settlements (BIS) dropped a bombshell report that torpedoed the Federal Reserve’s official narrative on what has caused the overnight lending market (repo loan market) on Wall Street to seize up since September 17, leading to more than $3 trillion in cumulative loans from the New York Fed as lender of […]
Congress Held a Hearing on the Fed’s Bailout of the Repo Market: Here’s Why You Haven’t Heard About It…
The New York Fed Has Some Explaining to Do Over Morgan Stanley’s Unreported Trading Losses…
James Gorman is the Chairman and CEO of Morgan Stanley. He also sits on the Board of Directors of the Federal Reserve Bank of New York (New York Fed), one of Morgan Stanley’s regulators. The New York Fed is one of 12 regional Federal Reserve banks – but the only one willing to turn on […]
The Rake…
In a poker game, the rake is the cut that the casino dealer takes out of every pot. It’s usually a couple of dollars per hand … barely noticeable, certainly not noticeable to a casual poker player like me. But what if the dealer started taking 18-25% out of every pot as his rake? Would […]
Jamie Dimon Tells 60 Minutes He’s a Patriot; There’s Good Reason to Think He’s a Crime Boss…
JPMorgan Has Radically Changed Its Balance Sheet, Shrinking Its Cash at the Fed by $145 Billion…
JPMorgan Chase is not a bank that federal regulators can simply put on autopilot and hope for the best. When the U.S. Senate’s Permanent Subcommittee on Investigations conducted a formal probe into how the bank lost $6.2 billion of its federally-insured bank’s deposits by gambling in derivatives in London in 2012, the Chair of the […]
The Fed Fears an Explosion on Wall Street: Here’s How JPMorgan Lit the Fuse…
JPMorgan Chase is the largest bank in the United States with $1.6 trillion in deposits from more than 5,000 retail bank branches spread across the country. When it withdraws liquidity from the U.S. financial system, that has a reverberating impact. According to the filings that JPMorgan Chase makes annually with the Securities and Exchange Commission […]