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As the Fed Throws Hundreds of Billions a Week at Wall Street Banks for Liquidity, JPMorgan’s IIF Can Afford to Buy El Paso Electric…

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David Dayen of American Prospect has a must-read article. The headline and subhead read: “JPMorgan Gets Back Into the Electricity Business: An El Paso, Texas, electric utility is being purchased by an investment fund with deep, undisclosed ties to the big bank.” Dayen is not buying into the idea that it’s an investment fund at […]

“It’s Incredible. The Scale of What JPMorgan Is Doing Is Mind-Boggling”…

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Shortly after our latest discussion how JPM’s drain of liquidity via Money Markets and reserves parked at the Fed may have prompted the September repo crisis and subsequent launch of “Not QE” by the Fed in order to reduce its at risk capital and potentially lower its G-SIB charge – currently the highest of all […]

New York Fed’s Repo Loans Are Foaming the Hedge Fund Runways…

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There is growing evidence that the New York Fed, the Wall Street feeding tube team of the Federal Reserve Board of Governors, is using its massive new repo loan operations to securities firms (primary dealers) to foam the Wall Street runways to try to avoid a crash landing as money gushes out of hedge funds […]

The Fed Fears an Explosion on Wall Street: Here’s How JPMorgan Lit the Fuse…

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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 […]

Bloomberg Purges Investigative Work on the Fed’s Secret Trillions in Loans During Wall Street’s 2008 Financial Meltdown…

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Mark Pittman was the Bloomberg News reporter responsible for the Bloomberg lawsuit against the Federal Reserve seeking the names of the banks and their share of the trillions of dollars that the Fed was secretly funneling to them during the financial crisis. Pittman had already shared in a Gerald Loeb award for Bloomberg’s five-part series, […]

A Secretive Committee of Wall Street Insiders Is the Least of the New York Fed’s Concerns…

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In July 17, Mary Callahan Erdoes, head of JPMorgan Chase & Co.’s $2.2 trillion asset and wealth management division, walked into the wood-paneled tenth-floor conference room at the Federal Reserve Bank of New York to address some fellow Wall Street luminaries — Bridgewater Associates’ Ray Dalio, Dawn Fitzpatrick of Soros Fund Management, short-seller Jim Chanos, […]

There’s Nothing Normal About the Fed Pumping Hundreds of Billions Weekly to Unnamed Banks on Wall Street: “Somebody’s Got a Problem”…

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Yesterday, the House Financial Services Committee released its hearing schedule for October. There is not a peep about holding a hearing on the unprecedented hundreds of billions of dollars that the Federal Reserve Bank of New York is pumping into unnamed banks on Wall Street at a time when there is no public acknowledgement of […]

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