Tag Archives: Merrill Lynch

Pam Martens & Russ Martens ~ Who Owns The U.S. Stock Market?

“It’s been four years since the Flash Crash on Wall Street sent stocks into a 900-point bungee jump, wiped out over $200 million of investors’ money by improperly triggering stop-loss orders, and shredded public confidence in stock markets.  And still, to this day, the Securities and Exchange Commission does not have a Consolidated Audit Trail (CAT) to properly police who is placing orders, at what time, at what speed, in what securities and in which trading venue.” P & R Martens

cartoon_wallStSerious observers of Wall Street are increasingly asking this question: could a group of trading venues with giant pools of capital, operating in the dark, using high-speed algorithms and artificial intelligence that has a massive historical database and gets smarter with each micro-second trade — effectively own the stock market. Today, we take a look at the massive trading control exercised by just five Wall Street firms.

JPMorgan Chase, Bank of America and Citigroup jointly control trillions of dollars in commercial bank deposits with thousands of branch bank buildings stretching across the United States scooping up the life savings of everyday Joes who have no clue these are also the Masters of the Universe on Wall Street.

Goldman Sachs and Morgan Stanley also own FDIC insured banks. Goldman Sachs Bank USA, as of March 31, 2014, has $104.7 billion in assets; Morgan Stanley Bank, N.A., as of the same date, has $108.8 billion in assets.

These institutions have access to the Fed’s discount window, super cheap access to capital from FDIC insured deposits and a massive subsidy of their institutions under the too-big-to-fail doctrine. And, they also own outright or jointly a large swath of anything and everything that passes as a trading venue on Wall Street today.

The dark pool known as BIDS Trading, L.P. says it “was designed to bring counterparties together to anonymously trade large blocks of shares.” According to its web site, it is owned by: JPMorgan Chase, Bank of America Merrill Lynch, Citigroup, Goldman Sachs and Morgan Stanley – along with other financial firms. Continue reading

Paul Joseph Watson ~ BBC Reporter: Google Moving To “Suppress Legitimate Journalism”

“The London Guardian was also informed that six of their articles had vanished down the memory hole, with the newspaper’s special projects editor James Ball warning , “there will likely be many more as the rich and powerful look to scrub up their online images, doubtless with the help of a new wave of “reputation management” firms.”” P J Watson

RobertPrestonBBC economics editor Robert Peston warns that Google’s implementation of the controversial “right to be forgotten” ruling is working to “suppress legitimate journalism” after one of his articles about Merrill Lynch boss Stan O’Neal was scrubbed from the search engine.

A recent ruling in the European Court of Justice mandated that Google must delete “inadequate, irrelevant or no longer relevant” data when it receives a request to do so, which could open the floodgates for powerful individuals, corporations and institutions to hide past evidence of wrongdoing in a chilling throwback to George Orwell’s “memory hole.”

Peston complains about how Google notified the BBC that one of his 2007 articles about former Merrill Lynch boss Stan O’Neal’s role in the financial collapse had been deleted from search results for Google users in Europe.

Peston questioned how the article represented “inadequate, irrelevant or no longer relevant” information, stating, “There is an argument that in removing the blog, Google is confirming the fears of many in the industry that the “right to be forgotten” will be abused to curb freedom of expression and to suppress legitimate journalism that is in the public interest.” Continue reading

Pam Martens & Russ Martens ~ Wall Street Banks Are Now Trading Their Own Stocks In Darkness

“Citigroup, which became insolvent during the 2008 crisis and required multiple bailouts from the taxpayer, owns a total of four dark pools according to a list posted at the SEC’s web site – none of which the general public has ever heard of: LavaFlow, LIQUIFI, Citi Credit Cross and Citi Cross. (The more dark pools a Wall Street firm owns the greater the concern that it could be trading between these pools to effectively paint the tape, i.e., manipulate the price of a stock.)” P. & R. Martens

Zemanta Related Posts ThumbnailJune 3 2014 ~ On July 17, 1996, the U.S. Justice Department charged the biggest names on Wall Street, names like Merrill Lynch, JPMorgan and predecessor firms to Citigroup, with pricing fixing on the electronic stock market known as Nasdaq.

The Justice Department felt the firms were so untrustworthy to make a fair electronic marketplace that as part of its settlement it required that some traders’ phone calls be tape recorded when making Nasdaq trades and it gave itself the right to randomly show up and listen in on the traders’ calls. The scandal made headlines for years and revealed that the price fixing had been going on under the unwatchful eye of regulators for more than a decade.

Now, more than six years after the greatest Wall Street crash since 1929, the public is still learning stomach-churning details about the lingering effects of de-regulating Wall Street.

Yesterday we learned that the very same Wall Street firms charged with price fixing in the 90s have somehow conned their regulators into allowing them to own their own dark pools – effectively unregulated stock exchanges – and make markets in the stock of their very own Wall Street bank.

The Financial Industry Regulatory Authority (FINRA) – a self-regulatory Wall Street body (which under a previous name was responsible for missing the Nasdaq price fixing for more than a decade) released trading data yesterday for the dark pools operating the week of May 12 – 16. This was the first time such data has been released. The data releases are set to continue. Continue reading

Paul Adams, J.D. ~ Usury: Weapon Of Control And Enslavement – Part 2 Of 2

Activist Post November 5 2013

In part one of this article, we defined usury as the lending of money at interest. We examined the history of usury and how it was considered morally reprehensible for thousands of years, prior to becoming the sand foundation modern economies. We also examined the mastery of usury, how they create money out of nothing and use it as a silent weapon for control of humanity.

Here, we examine the crimes and iniquity made possible by usury; and practical solutions.

Banker Bailouts

After the largest banks made bad loans and foreclosed on over ten million (10,000,000) homes, often illegally by forging documents, the private Federal Reserve, which is owned by its member banks, bailed out the following banks with at least $16.9 trillion according to page 131 of the first GAO audit:

  • Citigroup: $2.5 trillion ($2,500,000,000,000)
  • Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
  • Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
  • Bank of America: $1.344 trillion ($1,344,000,000,000)
  • Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
  • Bear Sterns: $853 billion ($853,000,000,000)
  • Goldman Sachs: $814 billion ($814,000,000,000)
  • Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
  • JPMorgan Chase: $391 billion ($391,000,000,000)
  • Deutsche Bank (Germany): $354 billion ($354,000,000,000)
  • UBS (Switzerland): $287 billion ($287,000,000,000)
  • Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
  • Lehman Brothers: $183 billion ($183,000,000,000)
  • Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
  • BNP Paribas (France): $175 billion ($175,000,000,000)

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Michael Snyder ~ 25 Fast Facts About The Federal Reserve

EconomicCollapse  September 15 2013

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As we approach the 100 year anniversary of the creation of the Federal Reserve, it is absolutely imperative that we get the American people to understand that the Fed is at the very heart of our economic problems.  It is a system of money that was created by the bankers and that operates for the benefit of the bankers.  The American people like to think that we have a “democratic system”, but there is nothing “democratic” about the Federal Reserve.  Unelected, unaccountable central planners from a private central bank run our financial system and manage our economy.  There is a reason why financial markets respond with a yawn when Barack Obama says something about the economy, but they swing wildly whenever Federal Reserve Chairman Ben Bernanke opens his mouth.  The Federal Reserve has far more power over the U.S. economy than anyone else does by a huge margin.

The Fed is the biggest Ponzi scheme in the history of the world, and if the American people truly understood how it really works, they would be screaming for it to be abolished immediately.  The following are 25 fast facts about the Federal Reserve that everyone should know…

#1 The greatest period of economic growth in U.S. history was whenthere was no central bank.

#2 The United States never had a persistent, ongoing problem with inflation until the Federal Reserve was created.  In the century before the Federal Reserve was created, the average annual rate of inflation was about half a percent.  In the century since the Federal Reserve was created, the average annual rate of inflation has been about 3.5 percent, and it would be even higher than that if the inflation numbers were not being so grossly manipulated.

#3 Even using the official numbers, the value of the U.S. dollar has declined by more than 95 percent since the Federal Reserve was created nearly 100 years ago.

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Pam Martens ~ An Intern Dies In The Hands Of Mother Merrill

WallStreetonParade  August 22 2013

The lingering impact of the Wall Street crash of 2008 to 2010 has devastated the job market for young college grads. The government debt piled on to bail out Wall Street has killed the prospects for the next generation’s standard of living. Now, Wall Street isliterally killing the next generation.

Moritz Erhardt, a 21-year old college intern working for the investment banking division of Bank of America Merrill Lynch, was found dead in his shower after working around the clock for three straight days at the U.S. bank’s offices in London, according to published reports from fellow interns who shared the premises.

Merrill Lynch, known on the street as “Mother Merrill,” wants you to know it is “deeply shocked and saddened.”

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Jimmy Mengel ~ Who Really Controls the World?

OutsiderClub  August 16 2013

The 1318 transnational corporations that form the core of the economy. Superconnected companies are red, very connected companies are yellow. The size of the dot represents revenue.

It’s the question that conspiracy theorists dedicate their life to answering…
Who really controls the world?

Who is pulling the strings?

Who is hiding behind the curtain?

These questions have long been subject to speculation, scapegoating, and paranoid ravings — some more well-founded than others.

Now, thanks to the science of complex system theory, the answer may actually be right in front of our faces.

This scientific process sheds light on the dark corners of bank control and international finance and pulls some of the major players out from the shadows.

And it goes back to the old credo: Just follow the money…

Systems theorist James B. Glattfelder did just that.

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Pam Martens ~ Margin Debt on Wall Street Hits All Time High: But Whose Debt Is It?

Wall Street On Parade June 3 2013

Wall Street Bull Statue in Lower Manhattan

The New York Stock Exchange has released data showing that the amount of borrowing against assets held in brokerage accounts as of April 30, 2013 has reached an all time record. Called margin loans, investors have borrowed $384 billion against their accounts, topping the prior record of $381.4 billion in margin debt set in July 2007 – just before the onset of the financial crisis.

The ramp up in margin debt has been occurring at a steady pace. It stood at $284.6 billion in June 2012; $330 billion at the end of December 2012; and has risen each month since then to reach $384 billion at the end of April 2013, according to the most recent data listed at the New York Stock Exchange.

But just who is it that is taking out of all these risky loans? If it’s the small, retail investor, that should set off alarm bells in Washington.

In January, a study by Morgan Stanley showed that hedge funds’ holdings versus the cash provided to them by investors stood at 153 percent versus 143 percent in early 2011.

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Michael Snyder ~ Who Runs The World? Solid Proof That A Core Group Of Wealthy Elitists Are Pulling The Strings

Govt Slaves | January 29 2013

Does a shadowy group of obscenely wealthy elitists control the world?

Do men and women with enormous amounts of money really run the world from behind the scenes?

The answer might surprise you.  Most of us tend to think of money as a convenient way to conduct transactions, but the truth is that it also represents power and control.

And today we live in a neo-fuedalist system in which the super rich pull all the strings.  When I am talking about the ultra-wealthy, I am not just talking about people that have a few million dollars.  As you will see later in this article, the ultra-wealthy have enough money sitting in offshore banks to buy all of the goods and services produced in the United States during the course of an entire year and still be able to pay off the entire U.S. national debt.

That is an amount of money so large that it is almost incomprehensible.  Under this ne0-feudalist system, all the rest of us are debt slaves, including our own governments.  Just look around – everyone is drowning in debt, and all of that debt is making the ultra-wealthy even wealthier.  But the ultra-wealthy don’t just sit on all of that wealth.  They use some of it to dominate the affairs of the nations.

The ultra-wealthy own virtually every major bank and every major corporation on the planet.  They use a vast network of secret societies, think tanks and charitable organizations to advance their agendas and to keep their members in line.  They control how we view the world through their ownership of the media and their dominance over our education system.  They fund the campaigns of most of our politicians and they exert a tremendous amount of influence over international organizations such as the United Nations, the IMF, the World Bank and the WTO.

When you step back and take a look at the big picture, there is little doubt about who runs the world.  It is just that most people don’t want to admit the truth.

The ultra-wealthy don’t run down and put their money in the local bank like you and I do.  Instead, they tend to stash their assets in places where they won’t be taxed such as the Cayman Islands.  According to a report that was released last summer, the global elite have up to 32 TRILLION dollars stashed in offshore banks around the globe.

U.S. GDP for 2011 was about 15 trillion dollars, and the U.S. national debt is sitting at about 16 trillion dollars, so you could add them both together and you still wouldn’t hit 32 trillion dollars.

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