Watchman: In the New World Order, Only Four Banks Will Dominate, With Nearly 10,000 U.S. Banks Vanishing Since 1985. The Power Is Now Concentrated in the Hands of These Mega Banks, Which Control 39+ Percent of All Bank Assets

HNewsWire: By Pam Martens and Russ Martens, According to Federal Deposit Insurance Corporation (FDIC) data, there were 14,417 federally-insured banking institutions in the U.S. in 1985. As of December 31, 2023, the FDIC reports there are only 4,587 remaining. The vast majority of the 9,830 banks that have disappeared since 1985 did not fail – they were merged with other banks. Today, just four banks control $9.3 trillion in consolidated bank assets or 39 percent of all bank assets. Those four banks are JPMorgan Chase with $3.395 trillion in consolidated assets; Bank of America with $2.540 trillion; Wells Fargo with $1.7 trillion; and Citigroup’s Citibank with $1.685 trillion. (All asset figures are as of December 31, 2023 and come from the Federal Reserve’s statistical release of the largest banks.) The political clout of these mega banks is such that one of them,…

Read More

Jerome Powell Openly Admits That Banks Will Collapse This Year

By SRH, Earlier this week, in a Senate Banking Committee, the esteemed Fed Chair Jerome Powell reluctantly acknowledged that the United States is bound to confront a series of unavoidable banking collapses this year. However, he audaciously asserts that this forthcoming surge of calamities shall be within the realm of “manageable.” Another round of deceit from the Fed, as expected. The senator’s worries about the banking sector’s soundness and its exposure to commercial real estate were acknowledged by Powell. He verified that worried banks are receiving updates from the Federal Reserve, which is keeping a careful eye on the situation. Although Powell refrained from naming names or providing exact figures, he did say that additional banks, especially smaller ones with a greater reliance on commercial real estate, are likely to fail this year. The transition to remote employment has resulted…

Read More

Watchman Banks Are In Trouble: New York Community Bancorp Cut To ‘Junk’ By Moody’s 33% Of Deposits Uninsured,the Crash is Coming

By SRH, HNewsWire Reporting: Embattled regional bank New York Community Bancorp received another blow Tuesday evening when Moody’s Investors Service lowered its credit rating to junk status. Moody’s downgraded New York Community Bancorp due to “challenges” stemming from the lender’s unexpected loss in the commercial real estate market. The downgrade reduced the bank’s credit rating by two notches from its prior level, indicating a significant lack of faith in the bank’s capacity to repay its debt holders. “NYCB’s core historical commercial real estate lending and significant and unanticipated loss on its New York office and multifamily property could create potential confidence sensitivity,” according to the assessment released by Moody’s Investors Service. Following the downgrading, New York Community Bancorp shares fell 17% in after-hours trading on Tuesday evening. This loss comes on top of a 22% selloff in regular trading. Credit…

Read More

This Should Be a Clear Indication of Where This Country and the World

Stands Financially and Morally, “Bankrupt” The Department of Labor Acknowledges Unemployment Checks Are Bouncing… US Virgin Island residents earlier this week were reporting to the Consortium that unemployment insurance checks provided to them by the Dept. of Labor were worthless. One resident, whose check was for over $300, said he realized the check had bounced Tuesday. “People here suffering and you’re telling me they are sending out checks and don’t have any money in the account,” he said. Another resident said via Facebook message, “My unemployment check bounced and now my bank account is in the negative. It’s really hard in a time of need.” A third person, also through the Consortium’s Facebook platform, said, “Two of my checks bounced from the Dept. of Labor.” In a release Thursday, D.O.L. said it met with bank representatives “to further ensure that payments made to…

Read More