The largest U.S. banks are poised to return billions of dollars to investors after Federal Reserve stress tests showed planned dividends and stock buybacks wouldn’t leave them too weak to survive a harsh economic downturn. Under the most severe test scenario, a recession with unemployment spiking to 10% and the Dow Jones Industrial Average falling […]
One Year After Dimon Slammed Bitcoin as a “Fraud”, JPM Launches Own Cryptocurrency…
The bank said “JPM Coin” will be used to offer instantaneous settlement for transactions in the bank’s large corporate clients in its $6 trillion-a-day payments business for large corporations and institutions. Unlike bitcoin, JPM Coin’s value won’t be subject to the whims of a secondary market; instead, ‘JPM Coin’ will join the ranks of so-called […]
JPMorgan Faces Potential Class Action Lawsuit After Guilty Pleas by Former Precious Metals Trader…
Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years. At least six lawsuits, all making similar allegations against the nation’s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut unveiled a plea agreement […]
Fed’s Crackdown on Wells Fargo Will Curb 2018 Profit by $400 Million…
The Federal Reserve’s decision to cap Wells Fargo growth until it sufficiently improves corporate oversight in the wake of a fake accounts scandal will curb the lender’s profit by as much as $400 million this year, CEO Tim Sloan said. The directive, announced after the close of New York trading on Friday, requires the San […]
Microchipping? Hhhhmmm: Bezo’s, Buffett, JPMorgan Starting Healthcare Company…
Amazon, Berkshire Hathaway and JPMorgan Chase & Co. have agreed to work together to provide healthcare for their employees that is “free from profit-making incentives and constraints.” The three companies are hoping to create a new healthcare company that they say will aim to improve employee satisfaction and reduce costs. The companies provided few details […]
They Killed the Tsar – Now the Globalists Target Putin by Phil Butler…
In today’s crises centered around Russia, world historians seem to have forgotten that it was American President Woodrow Wilson who made it possible for Leon Trotsky to enter Russia with an American passport. Observed in an historical context the underlying intent of western-eastern détente today should be seen in crystal clarity, but it is not…
The Volcker Rule & the London Whale by R. Christopher Whalen…
News reports that prosecutors have dropped their case against Bruno Iksil, the former JPMorgan (NYSE:JPM) trader many know as the “London Whale,” comes as no surprise to readers of The IRA. Iksil, who resurfaced earlier this year, has been living in relative seclusion in France for the past few years. In previous comments posted on […]
Breaking Up the Big Wall Street Banks Is Back in the Headlines…
In the past two weeks, newspaper headlines have revived the debate on whether the mega Wall Street banks continue to pose a systemic threat to the U.S. banking system and the economy. This is a desperately needed public debate that demands facts – not a revisionist history of what actually caused the 2008-2010 Wall Street […]
If Elizabeth Warren Wants to Probe Worker Abuse on Wall Street, Start With the Unprecedented Rash of Deaths and Suicides…
If Senators Warren, Sanders, Merkley and Brown genuinely want to change their party’s jaded image as Wall Street Democrats, they will use this timely opportunity to demand that the OCC turn over its records on the profits flowing to Wall Street from these untimely deaths of young people…
Pipelines, Poverty and Privilege: the Finances of Judge James Boasberg…
As reported by Democracy Now “Bank of America, HSBC, UBS, Goldman Sachs, Wells Fargo, JPMorgan Chase and other financial institutions have, combined, extended a $3.75 billion credit line to…