Citadel Is Paying for Order Flow from Nine OnLine Brokerage Firms – Not Just Robinhood

The bottom line here: there was a high probability that no matter what online brokerage firm Redditors sent their GameStop orders to initially, Ken Griffin’s Citadel Securities was getting a piece of the action in the end. By Pam Martens and Russ Martens of Wall Street on Parade. Since 2000, the Securities and Exchange Commission… Read More Citadel Is Paying for Order Flow from Nine OnLine Brokerage Firms – Not Just Robinhood

Neoliberal Champion Larry Summers Opens Mouth, Inserts Both Feet

The former Harvard President and Treasury Secretary offers important thoughts on the negative consequences of aid to the less fortunate. By Matt Taibbi and cross-posted from his substack account. Lawrence Summers, the former Treasury Secretary under Bill Clinton, director of the National Economic Council under Barack Obama, president of Harvard, and Chief Economist at the… Read More Neoliberal Champion Larry Summers Opens Mouth, Inserts Both Feet

Watchdog Report: Fed’s Billions in Emergency Repo Loans to Wall Street Didn’t Go Away; They Just Went Dark

The false impression of calm this created gave confidence to the stock market, which proceeded to set record highs, as investors were blissfully unaware (along with Congress and the mainstream business media) that the New York Fed continued to feed the Wall Street beast… Read More Watchdog Report: Fed’s Billions in Emergency Repo Loans to Wall Street Didn’t Go Away; They Just Went Dark

Taxpayers Are on the Hook for 98 Percent of the Fed’s $6.98 Trillion Balance Sheet

Considering the New York Fed is privately owned by the member banks in its region (as are all of the 12 regional Fed banks) and has run up a $3.9 trillion balance sheet, you’d be forgiven for thinking its share owners would be on the hook for any liabilities. But you’d be wrong… Read More Taxpayers Are on the Hook for 98 Percent of the Fed’s $6.98 Trillion Balance Sheet