<a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> CEO <a href="https://www.dailywire.com/topic/jamie-dimon" target="_blank" rel="noopener">Jamie Dimon</a> will be interviewed under oath about his company’s ties with deceased child sex predator and financier <a href="http://dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>.
Lawsuits from an unnamed victim of Epstein and the government of the <a href="https://www.dailywire.com/topic/virgin-islands" target="_blank" rel="noopener">U.S. Virgin Islands</a> allege that JPMorgan Chase benefited financially from its relationship with the pedophile. Attorneys have uncovered communications from JPMorgan Chase employees which mentioned a “Dimon review” into the company’s relationship with Epstein, according to a <a href="https://www.ft.com/content/f5e7d581-6369-4b0b-92f4-b5fe9a55b2f2" target="_blank" rel="noopener">report</a> from the Financial Times based upon unnamed sources.
Dimon, who has led the investment bank since 2005 and is widely considered one of the most powerful executives on Wall Street, will be deposed behind closed doors in May. Another source told the Financial Times that there is no record of direct communications between Dimon and Epstein, who worked with JPMorgan Chase between 1998 and 2013.
JPMorgan Chase has denied that Dimon had knowledge of a review into the firm’s associations with Epstein and rejected the notion that the company benefited from sex trafficking.
News of the upcoming deposition comes one week after United States District Judge Jed Rakoff <a href="https://www.dailywire.com/news/epstein-victim-allowed-to-sue-big-banks-for-allegedly-enabling-sex-offender-we-will-leave-no-stone-unturned" target="_blank" rel="noopener">tossed</a> most of the charges against JPMorgan Chase and Deutsche Bank in the proposed class action lawsuits from the Epstein accuser and the U.S. Virgin Islands. Attorneys will be permitted, however, to contend that both companies benefited from the Epstein sex trafficking scheme by providing him with financial services.
“Epstein’s sex trafficking operation was impossible without the assistance of JPMorgan Chase, and later Deutsche Bank, and we assure the public that we will leave no stone unturned in our quest for justice for the many victims who deserved better from one of America’s largest financial institutions,” lawyers for the U.S. Virgin Islands and the Epstein victim, identified only as Jane Doe, said in a statement.
The complaint from Doe asserts that Epstein, who ran a hedge fund before his death in 2019, benefited from special treatment at JPMorgan Chase because he attracted clients to the investment bank. Most of the Epstein hedge fund’s business went to Deutsche Bank after he ceased business with JPMorgan Chase in 2013.
The new complaints against the financial institutions come after managers of the Epstein estate <a href="https://www.dailywire.com/news/epstein-estate-to-pay-more-than-105-million-to-u-s-virgin-islands" target="_blank" rel="noopener">agreed</a> to settle a lawsuit with the U.S. Virgin Islands at the end of last year over enforcement actions related to the territory’s laws against fraud, sex trafficking, and child exploitation. The estate agreed to pay $105 million and half of the proceeds earned from selling the island of Little St. James, which has acquired nicknames such as “Pedophile Island,” and $450,000 to remediate environmental damage around Great St. James, another island owned by Epstein.
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The financier purchased Little St. James in 1998 and owned the property until his death. The island has allegedly hosted former President Bill Clinton and British Prince Andrew; a pilot who formerly worked for Epstein <a href="https://www.dailywire.com/news/two-presidents-and-a-prince-epsteins-former-pilot-testifies-famous-men-flew-on-sex-offenders-plane" target="_blank" rel="noopener">testified</a> that he had seen the two individuals, and former President Donald Trump and actor Kevin Spacey, on the deceased predator’s aircraft.

Key Speakers At IIF Annual Membership Meeting

JPMorgan Chase CEO Jamie Dimon Will Be Deposed Under Oath About Bank’s Links To Jeffrey Epstein

JPMorgan Chase CEO Will Be Deposed Over Bank’s Links To Jeffrey Epstein

Banks

Crime

Jamie Dimon

Jeffrey Epstein

JP Morgan

Sex Trafficking

U.S.

Virgin Islands

An unnamed victim of deceased child sex predator <a href="https://www.dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>, as well as the government of the <a href="https://www.dailywire.com/topic/virgin-islands" target="_blank" rel="noopener">U.S. Virgin Islands</a>, will be allowed to file suit against <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> and Deutsche Bank.
United States District Judge Jed Rakoff tossed most of the charges against the two financial institutions in proposed class action lawsuits on Monday, according to a <a href="https://www.bloomberg.com/news/articles/2023-03-20/jpmorgan-deutsche-bank-win-dismissal-of-several-epstein-claims?leadSource=uverify%20wall" target="_blank" rel="noopener">report</a> from Bloomberg, and threw out three of the four claims against JPMorgan Chase in a separate suit from the U.S. Virgin Islands. Attorneys will be permitted, however, to contend that the firms benefited from the Epstein sex trafficking scheme by providing him with financial services.
“Epstein’s sex trafficking operation was impossible without the assistance of JPMorgan Chase, and later Deutsche Bank, and we assure the public that we will leave no stone unturned in our quest for justice for the many victims who deserved better from one of America’s largest financial institutions,” lawyers for the U.S. Virgin Islands and the Epstein victim, identified only as Jane Doe, said in a statement.
The lawsuit from Doe contends that Epstein, who ran a hedge fund before his suicide in 2019, was granted special treatment from JPMorgan Chase because he attracted clients to the investment bank. Epstein worked with the company between 1998 and 2013, after which most of his business went to Deutsche Bank.
An earlier <a href="https://www.dailywire.com/news/u-s-virgin-islands-sues-major-bank-for-allegedly-turning-blind-eye-to-epstein" target="_blank" rel="noopener">lawsuit</a> from former U.S. Virgin Islands Attorney General Denise George noted that JPMorgan Chase continued working with Epstein even after he pleaded guilty to two counts of soliciting prostitution from a teenage girl in 2008. George was <a href="https://www.dailywire.com/news/virgin-islands-prosecutor-fired-days-after-suing-major-bank-over-jeffrey-epstein-ties" target="_blank" rel="noopener">dismissed</a> from her post by U.S. Virgin Islands Governor Albert Bryan days after she submitted the lawsuit.
Jes Staley, a former senior executive at JPMorgan Chase and the former chief executive of Barclays, allegedly exchanged more than 1,200 emails with Epstein, some of which reportedly made reference to young women and vacations to Little St. James, the private estate in the U.S. Virgin Islands owned by Epstein. JPMorgan Chase filed suit against Staley earlier this month, contending that he should be held responsible for damages to the company should any claims from Doe or the U.S. Virgin Islands be upheld in court. Staley is scheduled to be deposed on Thursday.
“We are pleased that the U.S. Virgin Islands will continue to work alongside survivors to hold JPMorgan Chase accountable for enabling Jeffrey Epstein’s heinous sex-trafficking venture,” U.S. Virgin Islands Acting Attorney General Carol Thomas-Jacobs said in a statement, according to a <a href="https://www.cnbc.com/2023/03/20/jpmorgan-chase-can-be-sued-by-virgin-islands-over-jeffrey-epstein-sex-trafficking-claims.html" target="_blank" rel="noopener">report</a> from CNBC. “This case is critically important to ensuring that financial institutions do their jobs, with the detailed, real-time information available to them, as a first line of defense in identifying and reporting potential human trafficking, as the law expects.”
Epstein purchased Little St. James in 1998 and owned the property until he died in 2019. The island has allegedly hosted former President Bill Clinton and British Prince Andrew, while a pilot who formerly worked for Epstein <a href="https://www.dailywire.com/news/two-presidents-and-a-prince-epsteins-former-pilot-testifies-famous-men-flew-on-sex-offenders-plane" target="_blank" rel="noopener">testified</a> that he had seen the two individuals, as well as former President Donald Trump, lawyer Alan Dershowitz, and actor Kevin Spacey, on the deceased predator’s aircraft. Little St. James has acquired nicknames such as “Pedophile Island.”
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The lawsuits against JPMorgan Chase and Deutsche Bank come months after Ghislaine Maxwell, a longtime companion of Epstein, was <a href="https://www.dailywire.com/news/breaking-epstein-sex-trafficker-ghislaine-maxwell-sentenced" target="_blank" rel="noopener">sentenced</a> to 20 years in prison on multiple conspiracy and sex trafficking charges for aiding Epstein in recruiting and grooming young girls. Maxwell was accused of “normalizing” the abuse by undressing in front of a victim, discussing sexual topics with other victims, and prompting them to give “sexualized massages” to Epstein, according to a federal indictment. She allegedly tried to befriend victims by taking them on shopping excursions and asking about their lives.

Patrick McMullan Archives

Epstein Victim Allowed To Sue Big Banks For Allegedly Enabling Sex Offender: ‘We Will Leave No Stone Unturned’

Epstein Victim Allowed To Sue Big Banks For Allegedly Enabling Sex Offender

Courts

Sexual Abuse

Large <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">financial institutions</a> will provide First Republic Bank with $30 billion in deposits as the company witnesses pressure from customers who desire to withdraw funds.
Wells Fargo, <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a>, <a href="https://www.dailywire.com/topic/bank-of-america" target="_blank" rel="noopener">Bank of America</a>, and <a href="https://www.dailywire.com/topic/citigroup" target="_blank" rel="noopener">Citigroup</a> will each contribute $5 billion of deposits to assist First Republic Bank, which is heavily involved in wealth management and has many customers with deposits exceeding the $250,000 threshold protected by the Federal Deposit Insurance Corporation, according to a Thursday <a href="https://www.bloomberg.com/news/articles/2023-03-16/first-republic-to-get-30-billion-of-bank-deposits-in-rescue?utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;cmpid=socialflow-twitter-business&amp;utm_medium=social&amp;utm_content=business" target="_blank" rel="noopener">report</a> from Bloomberg. Officials from the federal government enabled the deal, details of which circulated across agencies and financial institutions on Thursday ahead of the announcement.
Goldman Sachs and Morgan Stanley will each contribute $2.5 billion, while PNC Bank, Truist Financial, BNY Mellon, U.S. Bancorp, and State Street will each contribute $1 billion. First Republic Bank previously considered a sale and has been working with JPMorgan Chase to contend with its current difficulties.
Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell, FDIC Chairman Martin Gruenberg, and Acting Comptroller of the Currency Michael Hsu said in a <a href="https://www.fdic.gov/news/press-releases/2023/pr23020.html" target="_blank" rel="noopener">statement</a> that the &#8220;show of support&#8221; is &#8220;most welcome&#8221; and &#8220;demonstrates the resilience of the banking system.&#8221;
Shares of First Republic Bank declined nearly 73% between March 8 and March 13, the time horizon over which Silicon Valley Bank and Signature Bank were shuttered by the FDIC. Prices for First Republic Bank rose more than 10% on Thursday amid the deposit assistance discussions.
First Republic Bank maintains $271 billion in assets, an amount comparable to the $212 billion maintained by Silicon Valley Bank and the $110 billion maintained by Signature Bank. JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo respectively control $3.7 trillion, $3.1 trillion, $2.4 trillion, and $1.9 trillion; some have noted that the recent collapse of smaller banks could spur consolidation in the financial services sector.
Silicon Valley Bank announced a $1.75 billion share sale last week after the company <a href="https://www.dailywire.com/news/regulators-shut-down-major-tech-bank-after-run-on-savings" target="_blank" rel="noopener">suffered</a> heavy losses from the liquidation of long-term assets in a $21 billion bond portfolio, raising concerns among venture capital firms and startups with ties to the company about the safety of their deposits. The portfolio had declined in value due to the higher economy-wide interest rate environment caused by actions from the Federal Reserve to decrease inflation.
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The vast majority of deposits at Silicon Valley Bank, which offered services to nearly half of the venture-backed technology and healthcare firms in the United States, exceeded the $250,000 threshold typically insured by the FDIC. Regulators scrambled to guarantee all deposits at Silicon Valley Bank such that the remainder of the financial system, in which roughly half of deposits surpass $250,000, would remain protected from the possibility of bank runs.
Yellen asserted before members of the Senate Finance Committee on Thursday that her agency, the Federal Reserve, and the FDIC successfully <a href="https://www.dailywire.com/news/yellen-tells-lawmakers-that-the-american-banking-system-remains-sound-after-two-banks-collapse" target="_blank" rel="noopener">protected</a> the deposits of affected banks. “I can reassure the members of the Committee that our banking system remains sound, and that Americans can feel confident that their deposits will be there when they need them,” she commented. “This week’s actions demonstrate our resolute commitment to ensure that depositors’ savings remain safe.”
Some lawmakers cautioned of moral hazard arising from efforts to insure deposits both above and below the $250,000 threshold. “I am concerned about the precedent of guaranteeing all deposits and the market expectation moving forward,” Senate Finance Committee Ranking Member Mike Crapo (R-ID) told Yellen, noting that “rising interest rates” induced by Federal Reserve efforts to combat inflation are “impacting household budgets, the federal government’s coffers, and, as we saw this week, our banking system.”

After Silicon Valley Bank’s Failure, Regional Banks Face Greater Scrutiny

Big Banks Rescue Collapsing First Republic Bank With $30 Billion Deal

Large Banks Will Save Collapsing First Republic Bank With $30 Billion Deal

Bank of America

Citigroup

Economy

Silicon Valley Bank

<a href="https://www.dailywire.com/topic/jp-morgan">JPMorgan Chase</a> signed an agreement with the <a href="http://dailywire.com/topic/ukraine">Ukrainian</a> government in the hopes of coordinating between $20 billion and $30 billion in funds to rebuild the <a href="https://www.dailywire.com/topic/ukraine-russia-war">war-torn</a> country.
Senior officials from the largest bank in the United States met last week in Kyiv and other major cities with Ukrainian President Volodymyr Zelensky and his staffers, according to a <a href="https://www.foxbusiness.com/business-leaders/jp-morgan-reach-agreement-ukraine-zelenskyy-rebuild-infrastructure-present-patriots-jersey" target="_blank" rel="noopener">report</a> from Fox Business. On the eve of the Super Bowl, executives from JPMorgan Chase provided the head of state with a New England Patriots jersey emblazoned with the number 91, signifying the year Ukraine gained independence from the Soviet Union.
&#8220;I understand very well that doing business and investing cannot be beneficial to only one party. We want you to invest in Ukraine and earn money,&#8221; Zelensky said in a <a href="https://www.president.gov.ua/en/news/volodimir-zelenskij-zustrivsya-z-top-menedzherami-jp-morgan-80933" target="_blank" rel="noopener">statement</a>.
The panel of JPMorgan Chase bankers and Ukrainian government officials also hosted an online investment summit with more than 200 corporations, investors, and financial institutions. Participants discussed forming a mechanism through which the nation can attract private capital for information technology, renewable energy sources, and agricultural technology initiatives.
&#8220;We are proud of our long-standing support of Ukraine and committed to doing our part to lift up the country and its people,” JPMorgan Chase CEO Jamie Dimon said, adding that the bank’s “full resources” are available to the nation “as it charts its post-conflict path to growth.&#8221;
The announcement comes two months after asset management company BlackRock <a href="https://www.dailywire.com/news/blackrock-and-ukraine-join-forces-to-manage-investments-for-the-countrys-recovery" target="_blank" rel="noopener">endorsed</a> a similar memorandum of understanding with the Ukrainian government. Analysts at the firm will “include advice on the structure, investment process, governance and use of proceeds for a fund” while creating “opportunity for both public and private investors to participate in reconstructing and rejuvenating the market economy in Ukraine by delivering fair and just returns to investors,” according to another <a href="https://www.president.gov.ua/en/news/volodimir-zelenskij-i-golova-blackrock-obgovorili-zaluchenny-77861" target="_blank" rel="noopener">statement</a> from the government’s executive branch.
Although the extent of damage to the labor force, infrastructure, and natural resources of Ukraine as a result of the Russian invasion has not yet been measured, an <a href="https://www.worldbank.org/en/news/press-release/2022/04/10/russian-invasion-to-shrink-ukraine-economy-by-45-percent-this-year" target="_blank" rel="noopener">estimate</a> from the World Bank published in the weeks after the conflict said the Ukrainian economy would contract more than 45% in 2022, while the Russian economy would shrink more than 11%.
The Biden administration has provided Ukraine with more than $24.2 billion in military assistance over the past year, according to a <a href="https://www.defense.gov/News/Releases/Release/Article/3261263/more-than-3-billion-in-additional-security-assistance-for-ukraine/#:~:text=In%20total%2C%20the%20United%20States,beginning%20of%20the%20Biden%20Administration." target="_blank" rel="noopener">report</a> from the Defense Department. The federal government has also provided $9.9 billion in humanitarian aid and $15.1 billion in budgetary aid, according to an <a href="https://www.cfr.org/article/how-much-aid-has-us-sent-ukraine-here-are-six-charts" target="_blank" rel="noopener">analysis</a> from the Council on Foreign Relations, far surpassing the assistance offered by European Union institutions and member states.
Zelensky said during an <a href="https://www.nytimes.com/2022/12/21/us/politics/zelensky-speech-transcript.html" target="_blank" rel="noopener">address</a> to the United States Congress last year that aid from Western nations would accelerate victory against Russia. “Financial assistance is also critically important, and I would like to thank you, thank you very much, thank you for both financial packages you have already provided us with and the ones you may be willing to decide on,” he remarked. “Your money is not charity. It’s an investment in the global security and democracy that we handle in the most responsible way.”

Zelensky

JPMorgan Will Help Rebuild Ukraine With Fund As Large As $30 Billion

JPMorgan Will Help Rebuild Ukraine

Global Politics

Ukraine

Ukraine-Russia War

Volodymyr Zelensky

World

<a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> shuttered the college financial aid platform Frank, which the investment <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">bank</a> acquired for $175 million two years ago, and sued founder Charlie Javice after learning that she allegedly fabricated more than 90% of the website’s accounts.
The <a href="https://www.documentcloud.org/documents/23570243-frank_suit?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosprorata&amp;stream=top#_ga=2.126901833.551224049.1673548424-1989375623.1673363276" target="_blank" rel="noopener">complaint</a> filed by JPMorgan accused Javice of falsely claiming in documents, pitch materials, and verbal presentations that more than 4.25 million students had created accounts with Frank to manage their financial aid applications. The bank said analysts confirmed that some 4 million of the accounts were fake after test emails were sent to hundreds of thousands of supposed customers and only successfully reached 28% of the users. Slightly more than 1% of the delivered emails were opened, falling far short of the typical 30% rate seen by the bank.
The lawsuit said Javice had a choice between “revealing the truth about her startup” or “lying to inflate Frank’s value” in every interaction she had with JPMorgan. “Javice chose each time to lie, and the evidence shows that time and again she layered fraud upon fraud,” the bank concluded.
Javice became an employee of JPMorgan following the $175 million acquisition, which was completed in 2021. She successfully bargained for an additional $20 million retention bonus in her employment contract.
Javice had filed suit against JPMorgan days before they filed the complaint against her, claiming she was owed millions of dollars for expenses she incurred during an internal investigation that began last spring, according to a <a href="https://www.wsj.com/articles/jpmorgan-bought-college-financial-aid-platform-for-175-millionand-now-says-most-of-its-users-were-fake-11673470572?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosprorata&amp;stream=top#_ga=2.126820041.551224049.1673548424-1989375623.1673363276" target="_blank" rel="noopener">report</a> from the Wall Street Journal. Alex Spiro, an attorney representing Javice, told the outlet that the lawsuit from JPMorgan was “nothing but a cover.” He alleged that the bank “rushed to acquire” the company, then realized “they couldn’t work around existing student privacy laws, committed misconduct and then tried to retrade the deal.”
The <a href="https://withfrank.org/" target="_blank" rel="noopener">website</a> for Frank currently says the service is “no longer available.”
JPMorgan claimed that Javice refused to provide the company with a list of customers due to “privacy concerns.” When analysts insisted, she and Olivier Amar, another executive at Frank, allegedly approached the company’s director of engineering and asked him to create fake customers using computer algorithms. When the engineer declined to participate in the scheme, Javice and Amar allegedly paid a data science professor to create millions of customer profiles with names, email addresses, and birthdays to provide to JPMorgan.
The lawsuit added that Javice was particularly concerned with the email addresses, asking the professor whether they would “look real with an eye check.”
Javice founded Frank in 2017 and earned a <a href="https://www.forbes.com/profile/charlie-javice/?sh=782964829619" target="_blank" rel="noopener">spot</a> on the Forbes 30 Under 30 list two years later. Other investors in the company had included Apollo Global Management CEO Marc Rowan and education technology company Chegg, according to a <a href="https://www.businesswire.com/news/home/20210921005169/en/JPMorgan-Chase-Acquires-Frank-the-Leading-College-Financial-Planning-Platform-for-Students" target="_blank" rel="noopener">press release</a> from JPMorgan.
A glowing <a href="https://www.forbes.com/sites/dereknewton/2018/09/05/this-26-year-old-ceo-found-students-7-billion-in-financial-aid/?sh=10ce28e37e63" target="_blank" rel="noopener">profile</a> of Javice published by Forbes noted the entrepreneur’s selfless desire to help students attain higher education. The author said she “sounds like an eager data analyst when she talks about the matching problem and how it triggers other issues of equity and access.”
The lawsuit comes after FTX, the cryptocurrency exchange platform launched by Sam Bankman-Fried, filed for bankruptcy after users <a href="https://www.dailywire.com/news/30-year-old-billionaire-loses-entire-fortune-overnight-as-his-bahamas-based-cryptocurrency-empire-implodes" target="_blank" rel="noopener">learned</a> their deposits were commingled with Alameda Research, a trading firm also controlled by the young entrepreneur. Bankman-Fried and his associates likewise <a href="https://www.dailywire.com/news/left-of-center-media-accepted-millions-from-democrat-donor-and-disgraced-crypto-wunderkind-sam-bankman-fried" target="_blank" rel="noopener">received</a> gushing profiles in the mainstream media after donating millions of dollars to various outlets. A self-described “effective altruist,” Bankman-Fried later admitted that his supposed generosity was a ploy to earn the trust of “woke westerners.”

C24C4193-7A38-47EB-A56F-5922E3F43408_1_201_a

JPMorgan Closes Website They Bought For $175 Million After Claiming Founder Faked Over 90% Of Accounts

JPMorgan Shutters Website They Bought For $175 Million After Claiming Founder Faked Over 90% Of Accounts

Business

Fraud

<a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> CEO <a href="https://www.dailywire.com/topic/jamie-dimon" target="_blank" rel="noopener">Jamie Dimon</a> warned about the <a href="https://www.dailywire.com/topic/national-debt" target="_blank" rel="noopener">national debt</a>, expressing concern that the federal government’s obligations will eventually create a financial meltdown even as markets exhibit apathy toward the problem in the near term.
Dimon, widely regarded as one of the most influential executives on Wall Street, remarked during an <a href="https://www.foxbusiness.com/economy/jamie-dimon-sounds-alarm-rising-us-debt-potentially-disastrous-outcomes" target="_blank" rel="noopener">interview</a> with Fox Business host Maria Bartiromo that pension plans would “have to sell” after the failure of securities issued by the Treasury Department to finance deficit spending.
“It is so potentially dangerous we shouldn&#8217;t get anywhere near it,” he said. “And after all the shenanigans of politics, we&#8217;re going to have to fix this. I think it&#8217;s very bad for the nation to constantly be looking at this type of thing.&#8221;
The national debt is nearing $31.5 trillion even as <a href="https://www.dailywire.com/news/interest-payments-on-the-national-debt-on-pace-to-surpass-military-spending" target="_blank" rel="noopener">maintenance costs</a> soar due to the present rise in interest rates. An <a href="https://www.dailywire.com/news/government-must-raise-taxes-40-or-cut-spending-30-to-achieve-fiscal-balance-study" target="_blank" rel="noopener">analysis</a> from economists at the University of Pennsylvania’s Wharton School recently found that a 30% decrease in spending or a 40% increase in taxation would be necessary to handle current deficit spending and future obligations. Republican and Democratic administrations alike have overseen <a href="https://www.dailywire.com/news/the-american-people-want-a-real-change-steve-forbes-rebukes-both-parties-for-sinful-government-spending-habits" target="_blank" rel="noopener">surges</a> in debt over the past several decades.
Republican lawmakers recently <a href="https://www.dailywire.com/news/here-are-the-concessions-house-speaker-kevin-mccarthy-gave-to-republican-holdouts-to-win-their-support" target="_blank" rel="noopener">struck a deal</a> with House Speaker Kevin McCarthy (R-CA) under which the party’s new majority will introduce a budget that refrains from increasing the debt ceiling, an artificial limit on federal obligations imposed by Congress. Dimon said that he understands the lawmakers’ desire to end the provision but said that officials have no choice besides deficit spending as expenses for social programs balloon over the next decade. Social Security, Medicare, and other health programs constituted 46% of the federal budget during the last fiscal year, according to <a href="https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/" target="_blank" rel="noopener">data</a> from the Treasury Department.
Bartiromo and Dimon also discussed the general level of indebtedness among consumers and businesses. The total level of consumer loans increased from $1.5 trillion at the beginning of President Joe Biden’s tenure to $1.8 trillion as of two months ago, according to <a href="https://fred.stlouisfed.org/series/CONSUMER" target="_blank" rel="noopener">data</a> from the Federal Reserve. The personal savings rate has dropped from 20% to less than 3% over the same period, according to <a href="https://fred.stlouisfed.org/series/PSAVERT" target="_blank" rel="noopener">data</a> from the Bureau of Economic Analysis, marking a significant decline from rates witnessed before the lockdown-induced recession.
Dimon said that “strong” consumer sentiment coupled with rational policy prescriptions from the new Congress could help the economy expand by 3% after a year of lackluster growth that saw two quarterly contractions. Among other policies, Dimon called for reforms to the regulatory system that presently slow “the formation of business,” support for domestic energy companies seeking to construct new pipelines, and initiatives that “stop illegal immigration.”
Economists differ on whether the United States will experience a recession in the coming months. Bank of America Chief Investment Strategist Michael Hartnett said in a <a href="https://business.bofa.com/en-us/content/year-ahead-2023/investment-market-outlook-forecasts.html" target="_blank" rel="noopener">report</a> that a recession would strike in the first half of the year before markets attain a “much more solid footing,” while an <a href="https://www.dailywire.com/news/economists-predict-whether-2023-will-see-a-recession" target="_blank" rel="noopener">outlook</a> from Goldman Sachs Chief Economist Jan Hatzius noted that analysts at the company believe the economy will “stick a soft landing.”

Senate Banking Hearing On Oversight Of The Nation’s Largest Banks

‘We’re Going To Have To Fix This’: JPMorgan Chase CEO Sounds The Alarm Over Soaring National Debt

JPMorgan Chase CEO Jamie Dimon Sounds The Alarm Over Soaring National Debt

National Debt

Recession

<a href="http://dailywire.com/topic/kentucky" target="_blank" rel="noopener">Kentucky</a> State Treasurer Allison Ball published a list of <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">financial institutions</a> currently boycotting energy companies and required that agencies in the commonwealth divest from the firms.
The move is the latest effort among conservative states to distance themselves from companies involved in the environmental, social, and corporate governance movement, also known as <a href="http://dailywire.com/topic/esg" target="_blank" rel="noopener">ESG</a>, over concerns that the approach mingles profits with social and political causes. Ball named 11 asset management companies and investment banks, including <a href="http://dailywire.com/topic/blackrock" target="_blank" rel="noopener">BlackRock</a> and <a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a>, as “Restricted Financial Institutions” in a notice seen by The Daily Wire.
“When companies boycott fossil fuels, they intentionally choke off the lifeblood of capital to Kentucky’s signature industries,” Ball commented in a <a href="https://www.kentucky.gov/Pages/Activity-stream.aspx?n=KentuckyStateTreasurer&amp;prId=101" target="_blank" rel="noopener">press release</a>. “Traditional energy sources fuel our Kentucky economy, provide much needed jobs, and warm our homes. Kentucky must not allow our signature industries to be irreparably damaged based upon the ideological whims of a select few.”
State government entities must notify Ball of any holdings in the companies within 30 days of the notice. Identified companies must cease boycotting energy producers within 90 days in order to avoid divestment. The other firms named by Ball include Citigroup, Climate First Bank, Danske Bank, HSBC, Nordea Bank, Schroders, Svenska Handelsbanken, and Swedbank.
The notice from Ball occurs more than two months after she <a href="https://www.dailywire.com/news/kentucky-officials-make-move-to-purge-woke-investing-from-the-state" target="_blank" rel="noopener">authored a letter</a> alongside Kentucky Attorney General Daniel Cameron asking the commonwealth’s public pension systems to advise their offices about “efforts to ensure that ESG considerations are not being implemented in your systems’ investment decisions.”
Kentucky ranks seventh in the nation for coal production, according to <a href="https://www.eia.gov/state/analysis.php?sid=KY" target="_blank" rel="noopener">data</a> from the Department of Energy, and low electricity prices have helped attract manufacturing to the commonwealth. Beverage waste from the state’s distilleries is often used in ethanol production.
Several banks and asset managers have participated in alliances under which executives push portfolio companies to nix carbon emissions. BlackRock has taken “voting action on climate issues” against dozens of portfolio companies, according to a stewardship <a href="https://www.blackrock.com/corporate/literature/publication/our-commitment-to-sustainability-full-report.pdf" target="_blank" rel="noopener">report</a> published two years ago; the company is a <a href="https://www.dailywire.com/news/blackrock-executive-grilled-by-texas-lawmakers-over-esg-and-climate-agendas" target="_blank" rel="noopener">member</a> of Climate Action 100+ and similar associations.
State officials recently called on the Federal Energy Regulatory Commission to prohibit Vanguard, another prominent asset management company, from purchasing shares in publicly traded utilities out of a concern that the firm’s climate activism will raise prices and decrease energy reliability. Vanguard subsequently <a href="https://www.dailywire.com/news/vanguard-drops-out-of-climate-initiative-as-reaction-against-woke-investing-continues" target="_blank" rel="noopener">ceased participation</a> in the Net Zero Asset Managers initiative, under which companies <a href="https://www.netzeroassetmanagers.org/" target="_blank" rel="noopener">commit</a> to seek “net zero greenhouse gas emissions by 2050 or sooner” using investment funds.
Republican state officials <a href="https://www.dailywire.com/news/states-have-pulled-nearly-12-billion-from-blackrock-this-year" target="_blank" rel="noopener">pulled</a> some $12 billion from BlackRock last year, representing a small fraction of the nearly $8 trillion <a href="https://s24.q4cdn.com/856567660/files/doc_financials/2022/Q3/BLK-3Q22-Earnings-Release.pdf" target="_blank" rel="noopener">managed</a> by the company as broader market forces react against the ESG movement. Officials have expressed concern that the ESG movement presents difficulties to energy companies seeking to obtain capital.
“Treasurer Ball takes another bold step today in defense of her state’s financial future by putting banks on notice that boycotts of American energy won’t be tolerated,” State Financial Officers’ Foundation CEO Derek Kreifels remarked in a statement provided to The Daily Wire. “She and other state financial officers across the country are leading the movement to ensure that money earned by hardworking American families is used in accordance with their values, not weaponized against them.”

2022 Concordia Lexington Summit – Day 1

Kentucky Treasurer Sanctions BlackRock And Other Companies Engaged In ‘Ideological’ Boycotts Against Energy Sector

Kentucky State Treasurer Sanctions Companies Engaged In 'Ideological' Boycotts Against Energy

BlackRock

Kentucky

<a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> is facing a lawsuit from the government of the <a href="https://www.dailywire.com/topic/virgin-islands" target="_blank" rel="noopener">U.S. Virgin Islands</a>, which claims that the investment <a href="http://dailywire.com/topic/banks" target="_blank" rel="noopener">bank</a> turned a “blind eye” to child sex predator <a href="http://dailywire.com/topic/jeffrey-epstein" target="_blank" rel="noopener">Jeffrey Epstein</a>.
The disgraced hedge fund manager owned Little St. James, a part of the island system considered a territory of the United States, where he may have hosted a number of high-profile lawmakers and business leaders. JPMorgan allegedly concealed transactions that raised suspicion of the sex trafficking enterprise, according to the <a href="https://www.nytimes.com/2022/12/28/business/jeffrey-epstein-jpmorgan-virgin-islands.html" target="_blank" rel="noopener">lawsuit</a>, which was obtained by The New York Times and Bloomberg.
“JPMorgan knowingly, negligently and unlawfully provided and pulled the levers through which recruiters and victims were paid and was indispensable to the operation and concealment of the Epstein trafficking enterprise,” the lawsuit said.
The complaint, filed in the Southern District of New York by U.S. Virgin Islands Attorney General Denise George, asserts that JPMorgan Chase should have uncovered the transactions due to compliance requirements for laws against money laundering. Representatives for the investment bank refused to comment when contacted by the outlets.
JPMorgan provided investment banking services to the financier for roughly 15 years, according to The New York Times, even after he pleaded guilty to two counts of soliciting prostitution from a teenage girl in 2008. The lawsuit contended that the bank’s failure to sever ties with Epstein enabled his behavior in subsequent years.
Epstein purchased Little St. James in 1998 and owned the property until his apparent suicide in 2019. The island has allegedly hosted former President Bill Clinton and British Prince Andrew, while a pilot who formerly worked for Epstein previously <a href="https://www.dailywire.com/news/two-presidents-and-a-prince-epsteins-former-pilot-testifies-famous-men-flew-on-sex-offenders-plane" target="_blank" rel="noopener">testified</a> that he had seen the two individuals, as well as former President Donald Trump, lawyer Alan Dershowitz, and actor Kevin Spacey, on the deceased predator’s aircraft.
Two anonymous women who were allegedly trafficked by Epstein filed suit against JPMorgan Chase and Deutsche Bank last month, claiming that the companies had benefited financially from the abuse. “Without the financial institution’s participation, Epstein’s sex trafficking scheme could not have existed,” the <a href="https://www.cnn.com/2022/11/25/business/epstein-accusers-sue-jp-morgan-deutsche-bank-alleged-sex-trafficking/index.html" target="_blank" rel="noopener">lawsuit</a> said, according to a report from CNN.
The new complaint also occurs one month after managers of the Epstein estate <a href="https://www.dailywire.com/news/epstein-estate-to-pay-more-than-105-million-to-u-s-virgin-islands" target="_blank" rel="noopener">agreed</a> to settle a lawsuit with the U.S. Virgin Islands over law enforcement actions related to the territory’s laws against fraud, sex trafficking, and child exploitation. The estate agreed to pay $105 million and half of the proceeds earned from selling Little St. James, which acquired nicknames such as “Pedophile Island” after the financier’s death, as well as $450,000 to remediate environmental damage around Great St. James, another island owned by Epstein.
“This settlement restores the faith of the People of the Virgin Islands that its laws will be enforced, without fear or favor, against those who break them. We are sending a clear message that the Virgin Islands will not serve as a haven for human trafficking,” George said in a <a href="https://usvidoj.com/u-s-virgin-islands-attorney-general-settles-sex-trafficking-case-against-estate-of-jeffrey-epstein-and-co-defendants-for-over-105-million/" target="_blank" rel="noopener">press release</a>. “Through this lawsuit and settlement, the Attorney General’s Office, acting on behalf of the Government, is using its authority to enforce the laws of the Virgin Islands against criminal enterprises and to protect public safety.”
Ghislaine Maxwell, a longtime companion of Epstein, was <a href="https://www.dailywire.com/news/breaking-epstein-sex-trafficker-ghislaine-maxwell-sentenced" target="_blank" rel="noopener">sentenced</a> to 20 years in prison earlier this year on multiple conspiracy and sex trafficking charges for aiding Epstein with recruiting and grooming young girls. According to a federal indictment, Maxwell was accused of “normalizing” the abuse by undressing in front of a victim, discussing sexual topics with other victims, and prompting them to give “sexualized massages” to Epstein. She allegedly tried to befriend victims by taking them on shopping excursions and asking about their lives.

U.S. Virgin Islands Sues Major Bank For Allegedly Turning ‘Blind Eye’ To Epstein

JPMorgan Sued For Allegedly Turning 'Blind Eye' To Epstein

<a href="https://www.dailywire.com/topic/jp-morgan" target="_blank" rel="noopener">JPMorgan Chase</a> CEO <a href="http://dailywire.com/topic/jamie-dimon" target="_blank" rel="noopener">Jamie Dimon</a> compared <a href="http://dailywire.com/topic/cryptocurrency" target="_blank" rel="noopener">cryptocurrencies</a> to “pet rocks” on Tuesday and said that the nascent sector is the recipient of undue attention.
The executive <a href="https://www.youtube.com/watch?v=TIJbTsYbHME&amp;ab_channel=CNBCTelevision" target="_blank" rel="noopener">told</a> a panel of CNBC anchors that their outlet spends too much time covering cryptocurrencies, although he acknowledged that the underlying blockchain technology likely has useful applications. &#8220;I think crypto is a complete sideshow,&#8221; Dimon said during a Tuesday interview. &#8220;Crypto tokens are like pet rocks.&#8221;
Cryptocurrency, a form of decentralized <a href="https://www.dailywire.com/news/what-exactly-is-bitcoin-heres-how-the-worlds-largest-cryptocurrency-actually-works" target="_blank" rel="noopener">digital money</a> that can be transferred between users’ virtual wallets, has garnered the skepticism of many regulators and investors over the past several years. Dimon also raised concerns about “terrorism financing, tax avoidance, sex trafficking,” and other ways in which digital assets enable illicit activities. “Why do we allow this stuff to take place?&#8221; he asked.
Dimon predicted that officials would “regulate the hell out of” cryptocurrencies during an <a href="https://www.axios.com/2021/10/04/jamie-dimon-china-uyghurs" target="_blank" rel="noopener">interview</a> with Axios last year. “If people are using it for tax avoidance and sex trafficking and ransomware, it&#8217;s going to be regulated, whether you like it or not,” he said. “So it&#8217;s not a moral statement. It&#8217;s a factual statement.&#8221;
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The recent implosion of FTX, a cryptocurrency exchange based in the Bahamas and formerly led by entrepreneur Sam Bankman-Fried, has indeed drawn attention from regulators. The House Financial Services Committee <a href="https://www.dailywire.com/news/maxine-waters-blasted-for-gentle-tweet-politely-asking-possible-financial-criminal-sam-bankman-fried-to-testify" target="_blank" rel="noopener">invited</a> the disgraced founder to testify in a hearing scheduled for next week; members of the Senate Agriculture Committee <a href="https://www.dailywire.com/news/top-commodities-regulator-tells-senators-he-met-with-sam-bankman-fried-10-times" target="_blank" rel="noopener">questioned</a> Commodity Futures Trading Commission Chairman Rostin Behnam last week on further oversight of the industry.
FTX recently filed for <a href="https://www.dailywire.com/news/30-year-old-billionaire-loses-entire-fortune-overnight-as-his-bahamas-based-cryptocurrency-empire-implodes" target="_blank" rel="noopener">bankruptcy</a> after users discovered that trading firm Alameda Research, a company run by former Bankman-Fried love interest Caroline Ellison, had allegedly been using consumer funds from FTX to make investments. Bankman-Fried, a top <a href="https://www.dailywire.com/news/i-dont-even-know-how-to-code-mit-grad-and-now-broke-crypto-ceo-sam-bankman-fried-tells-niche-vlogger" target="_blank" rel="noopener">contributor</a> to Democratic and Republican campaigns, has repeatedly insisted that he did not intentionally commingle funds between the two companies.
New York Times financial columnist Andrew Ross Sorkin <a href="https://www.dailywire.com/news/sam-bankman-fried-denies-wrongdoing-in-ftx-implosion-during-live-streamed-new-york-times-interview" target="_blank" rel="noopener">pressed</a> Bankman-Fried last week on potential wrongdoing during the outlet’s DealBook summit, noting that he received multiple letters from FTX customers who accused the near-broke former billionaire of stealing their life savings. Bankman-Fried said that he was “deeply sorry about what happened” and claimed that a “failure of oversight” on his part was responsible for the cryptocurrency empire’s implosion rather than any intention to defraud customers.
Many journalists were surprised that Bankman-Fried has been providing comments to media outlets given the ongoing bankruptcy proceedings for his company, which the attorney who once oversaw the fallout from Enron described as the <a href="https://www.dailywire.com/news/lawyer-overseeing-ftx-fallout-never-in-my-career-have-i-seen-such-a-complete-failure" target="_blank" rel="noopener">worst case</a> of corporate failure he has ever witnessed. In one message to a Vox reporter, Bankman-Fried admitted that his persona as an “effective altruist” was largely a ruse meant to earn the trust of “woke westerners.”
Lawmakers and regulators have advanced the Digital Commodities Consumer Protection Act, a piece of legislation that would <a href="https://www.agriculture.senate.gov/imo/media/doc/dccpa_fact_sheet.pdf" target="_blank" rel="noopener">eliminate</a> conflicts of interest in the cryptocurrency sector. “For years many have recognized that a patchwork of federal and state-based regulation is an unsuitable substitute for a comprehensive approach,” Behnam told the Senate Agriculture Committee. “We are here today because many Americans invested in a novel product and will likely lose money because digital asset markets lack the basic protections that we have all come to expect and have made American financial markets the envy of the world.”

Bank CEOs Testify Before Senate Banking, Housing, and Urban Affairs Committee

‘A Complete Sideshow’: JPMorgan Chase CEO Jamie Dimon Says Cryptocurrencies Are Like ‘Pet Rocks’

JPMorgan Chase CEO Jamie Dimon Says Cryptocurrencies Are Like 'Pet Rocks'

Cryptocurrency

Sam Bankman-Fried

Two of the major players in the financial industry warned that the U.S. is on the verge of a recession and that the Federal Reserve might well raise the interest rate from its current 3-3.25% all the way to 4.5-4.75%.
David Solomon, CEO of Goldman Sachs, and Jamie Dimon, the chairman and chief executive of JPMorgan Chase, <a href="https://www.dailymail.co.uk/news/article-11359191/Goldman-Sachs-JPMorgan-CEOs-predict-Fed-raise-rates-4-75-expect-recession.html">spoke</a> on Tuesday at a conference in Saudi Arabia.
“If they don&#8217;t see real changes — labor is still very, very tight, they are obviously just playing with the demand side by tightening — but if they don&#8217;t see real changes in behavior, my guess is they will go further,” Solomon said of the Fed. “And I think generally when you find yourself in an economic scenario like this where inflation is embedded, it is very hard to get out of it without a real economic slowdown. The U.S. is most likely going to have a recession.”
“American consumers, eventually the excess money they have is running out,” Dimon predicted. “That will probably happen sometime mid-year next year, and then we will know more about what is going on with oil and gas prices and that kind of thing, so we will find out. &#8230; there is a lot of stuff on the horizon which is bad, and could — not necessarily, but could — put the United States in a recession.”
In early September Fed Chair Jerome Powell declared, “We’ve got a dual mandate—maximum employment and price stability—and it comes down to: Is nominal income [GDP] targeting the best way to promote that? We don’t think it is; I don’t think it is.”
“The basic idea behind nominal income targeting is that the central bank would establish a target growth rate for nominal income in the economy (as measured by, for example, nominal GDP),” Joshua Hendrickson of George Mason University stated.   “When nominal income is below its target, the central bank would engage in expansionary monetary policy by increasing the money supply.”
“Powell is concerned that estimates of the trend growth of output are ‘highly uncertain’ and that a decline in trend growth would require higher inflation,” James A. Dorn of the Cato Institute <a href="https://www.cato.org/blog/case-nominal-gdp-targeting-reply-fed-chair-powell">explained</a>. “Thus, under a nominal gross domestic product (NGDP) target, he thinks there would be communication issues’ as well as ‘big chances of policy error because we just don’t know any of the starred variables’ (e.g., the equilibrium values of real output, employment, and interest rates).”
Clive Crook of Bloomberg opined, “The Fed can’t control how much growth in NGDP is from higher real output and how much is from higher prices, the quantities it cares about. Using NGDP as an intermediate target to guide monetary policy recognizes this,” Dorn noted.

Jerome Powell

Major Financiers Warn Fed May Spike Interest Rates

Federal Reserve

Goldman Sachs

Interest Rates

Update: Sources have indicated to The Daily Wire that JP Morgan Chase may have notified West of its decision to end its banking relationship with him prior to his controversial actions over the last two weeks. Original story below:
Rapper Kanye West said late Wednesday night that he was &#8220;happy to have&#8221; crossed the line by saying something that has been widely condemned as anti-Semitic because it now means that he can discuss cancel culture in the U.S.
“Hey, if you call somebody out for bad business, that means you’re being anti-Semitic,&#8221; West told reporters after he left the screening of Daily Wire host Candace Owens&#8217; new documentary. &#8220;I feel happy to have crossed the line of that idea so we can speak openly about things like getting canceled by a bank.”
West&#8217;s comments were in reference to an email obtained by The Daily Wire that showed that a JPMorgan Chase bank was ending its banking relationship with West.
The statement, which was scant on details, was obtained by Candace Owens on the same day that Owens launched her new documentary on The Daily Wire, &#8220;<a href="https://get.dailywire.com/the-greatest-lie/subscribe-v2?utm_campaign=greatestlie&amp;utm_medium=website&amp;utm_source=email&amp;utm_content=publicity&amp;cid=greatestlie&amp;mid=e&amp;xid=0&amp;_gl=1*1zcvj0*_ga*ODQwNjQ2MDYyLjE2NjU1MTk0ODM.*_ga_CZKR9ZYKJP*MTY2NTYyNjg4MS43LjEuMTY2NTYyODY0MS40NS4wLjA." target="_blank" rel="noopener">The Greatest Lie Ever Sold</a>.&#8221;
&#8220;We are sending this letter to confirm our recent discussion with [redacted] that JPMorgan Chase Bank, N.A (the &#8216;Bank&#8217;) has decided to end its banking relationship with Yeezy, LLC and its affiliated entities (collectively, the &#8216;Company&#8217;),&#8221; the bank said in an email to West. &#8220;To provide the Company with sufficient time to transition to another financial institution, we will continue to maintain the accounts (attached as Exhibit A), including all related products and services, until November 21, 2022.&#8221;
&#8220;To avoid any transaction delays, we suggest that you stop processing Company transactions and/or using any products associated with the accounts five business days before the scheduled closure date set forth above,&#8221; the statement continued. &#8220;After that date, the Bank will close any open accounts, and after deduction of any permissible service charges and pending transactions, remit all remaining funds in the form of a check delivered to the Company at the address of record.&#8221;
<a href="https://www.dailywire.com/news/how-to-watch-candace-owens-new-documentary-the-greatest-lie-ever-sold" target="_blank" rel="noopener">HOW TO WATCH CANDACE OWENS’ NEW DOCUMENTARY, ‘THE GREATEST LIE EVER SOLD’</a>
JPMorgan Chase urged West to &#8220;act promptly [to] transfer your business to another financial institution before November 21, 2022.&#8221;
The bank encouraged him to reach out to them if he had any further questions.
The bank, according to Owens, gave &#8220;no official reason&#8221; about its decision to end its relationship with West.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Earlier today I learned that <a href="https://twitter.com/kanyewest?ref_src=twsrc%5Etfw">@kanyewest</a> was officially kicked out of JP Morgan Chase bank. I was told there was no official reason given, but they sent this letter as well to confirm that he has until late November to find another place for the Yeezy empire to bank. <a href="https://t.co/FUskokb6fP">pic.twitter.com/FUskokb6fP</a>
&mdash; Candace Owens (@RealCandaceO) <a href="https://twitter.com/RealCandaceO/status/1580331572539949057?ref_src=twsrc%5Etfw">October 12, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
News that the bank terminated its relationship with West comes as the rapper was in Nashville to attend the premiere of Owens&#8217; documentary.
<iframe loading="lazy" title="The Greatest Lie Ever Sold | OFFICIAL TRAILER" width="500" height="281" src="https://www.youtube.com/embed/CP3n5SvOqck?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
The <a href="https://www.dailywire.com/topic/black-lives-matter" target="_blank" rel="noopener">BLM</a> exposé takes a deep-dive into the multi-million dollar “grift” of the Black Lives Matter Global Network Foundation and its former Executive Director <a href="https://www.dailywire.com/topic/patrisse-cullors" target="_blank" rel="noopener">Patrisse Cullors</a>, and offers “the true story” behind the life and death of <a href="https://www.dailywire.com/news/candace-owens-the-media-is-lying-to-you-about-george-floyd-and-makhia-bryant" target="_blank" rel="noopener">George Floyd</a> with never-before-seen interviews from insiders and experts.
The documentary is available to those who are <a href="https://get.dailywire.com/subscribe/plus?utm_campaign=dailywire&amp;utm_medium=paid&amp;utm_source=googlesearch&amp;utm_content=na_subscriptions&amp;mid=g&amp;cid=dailywire&amp;xid=0&amp;utm_source=adwords&amp;utm_term=daily%20wire%20membership&amp;utm_campaign=Search+-+Daily+Wire+Brand&amp;utm_medium=ppc&amp;hsa_kw=daily%20wire%20membership&amp;hsa_ad=565626671705&amp;hsa_src=g&amp;hsa_ver=3&amp;hsa_grp=48841905760&amp;hsa_cam=927227687&amp;hsa_tgt=kwd-1422313638620&amp;hsa_acc=6411461344&amp;hsa_mt=b&amp;hsa_net=adwords&amp;gclid=EAIaIQobChMIysrxkJ_M-gIVyODICh1gWghwEAAYASAAEgJQcPD_BwE" target="_blank" rel="noopener">DailyWire+ members</a>.
If you’re not already a member, <a href="https://get.dailywire.com/the-greatest-lie/subscribe-v2?utm_campaign=greatestlie&amp;utm_medium=website&amp;utm_source=email&amp;utm_content=publicity&amp;cid=greatestlie&amp;mid=e&amp;xid=0&amp;_gl=1*1h0q1ro*_ga*MjA1NDI4NTExNy4xNjY0OTEwNDc2*_ga_CZKR9ZYKJP*MTY2NTA4MjkwMS45LjEuMTY2NTA5MjIxNS4xOC4wLjA" target="_blank" rel="noopener">you can sign up here</a> and gain access to Owens’ new documentary — as well as lots of other content, including feature films, original series, video podcasts, and other documentaries, like the Matt Walsh hit “<a href="https://www.dailywire.com/videos/what-is-a-woman" target="_blank" rel="noopener">What is a Woman?</a>”
Related: <a href="https://www.dailywire.com/news/joe-rogan-praises-the-daily-wires-what-is-a-woman-documentary-its-fing-amazing-fantastic">Joe Rogan Praises The Daily Wire’s ‘What Is A Woman?’ Documentary: It’s ‘F***ing Amazing,’ ‘Fantastic’</a>

“The Greatest Lie Ever Sold” Premiere Screening

Kanye West Responds To Getting ‘Canceled By’ JPMorgan Chase [UPDATED]

Kanye West Responds To Getting 'Canceled By' JPMorgan Chase

Kanye West

Update: Sources have indicated to The Daily Wire that JP Morgan Chase may have notified West of its decision to end its banking relationship with him prior to his controversial actions over the last two weeks. Original story below: 
JPMorgan Chase said in a statement obtained by Candace Owens on Wednesday that it has ended its banking relationship with rapper Kanye West&#8217;s business.
The statement, which was scant on details, was obtained by Candace Owens on the same day that Owens launched her new documentary on The Daily Wire, &#8220;<a href="https://get.dailywire.com/the-greatest-lie/subscribe-v2?utm_campaign=greatestlie&amp;utm_medium=website&amp;utm_source=email&amp;utm_content=publicity&amp;cid=greatestlie&amp;mid=e&amp;xid=0&amp;_gl=1*1zcvj0*_ga*ODQwNjQ2MDYyLjE2NjU1MTk0ODM.*_ga_CZKR9ZYKJP*MTY2NTYyNjg4MS43LjEuMTY2NTYyODY0MS40NS4wLjA." target="_blank" rel="noopener">The Greatest Lie Ever Sold</a>.&#8221;
&#8220;We are sending this letter to confirm our recent discussion with [redacted] that JPMorgan Chase Bank, N.A (the &#8216;Bank&#8217;) has decided to end its banking relationship with Yeezy, LLC and its affiliated entities (collectively, the &#8216;Company&#8217;),&#8221; the bank said in an email to West. &#8220;To provide the Company with sufficient time to transition to another financial institution, we will continue to maintain the accounts (attached as Exhibit A), including all related products and services, until November 21, 2022.&#8221;
&#8220;To avoid any transaction delays, we suggest that you stop processing Company transactions and/or using any products associated with the accounts five business days before the scheduled closure date set forth above,&#8221; the statement continued. &#8220;After that date, the Bank will close any open accounts, and after deduction of any permissible service charges and pending transactions, remit all remaining funds in the form of a check delivered to the Company at the address of record.&#8221;
<a href="https://www.dailywire.com/news/how-to-watch-candace-owens-new-documentary-the-greatest-lie-ever-sold" target="_blank" rel="noopener">HOW TO WATCH CANDACE OWENS’ NEW DOCUMENTARY, ‘THE GREATEST LIE EVER SOLD’</a>
JPMorgan Chase urged West to &#8220;act promptly [to] transfer your business to another financial institution before November 21, 2022.&#8221;
The bank encouraged him to reach out to them if he had any further questions.
The bank, according to Owens, gave &#8220;no official reason&#8221; about their decision to end their relationship with West.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Earlier today I learned that <a href="https://twitter.com/kanyewest?ref_src=twsrc%5Etfw">@kanyewest</a> was officially kicked out of JP Morgan Chase bank. I was told there was no official reason given, but they sent this letter as well to confirm that he has until late November to find another place for the Yeezy empire to bank. <a href="https://t.co/FUskokb6fP">pic.twitter.com/FUskokb6fP</a>
&mdash; Candace Owens (@RealCandaceO) <a href="https://twitter.com/RealCandaceO/status/1580331572539949057?ref_src=twsrc%5Etfw">October 12, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
News that the bank terminated its relationship with West comes as the rapper was in Nashville to attend the premier of Owens&#8217; documentary.
<iframe loading="lazy" title="The Greatest Lie Ever Sold | OFFICIAL TRAILER" width="500" height="281" src="https://www.youtube.com/embed/CP3n5SvOqck?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
The <a href="https://www.dailywire.com/topic/black-lives-matter" target="_blank" rel="noopener">BLM</a> exposé takes a deep-dive into the multi-million dollar “grift” of the Black Lives Matter Global Network Foundation and its former Executive Director <a href="https://www.dailywire.com/topic/patrisse-cullors" target="_blank" rel="noopener">Patrisse Cullors</a>, and offers “the true story” behind the life and death of <a href="https://www.dailywire.com/news/candace-owens-the-media-is-lying-to-you-about-george-floyd-and-makhia-bryant" target="_blank" rel="noopener">George Floyd</a> with never-before-seen interviews from insiders and experts.
The documentary is available to those who are <a href="https://get.dailywire.com/subscribe/plus?utm_campaign=dailywire&amp;utm_medium=paid&amp;utm_source=googlesearch&amp;utm_content=na_subscriptions&amp;mid=g&amp;cid=dailywire&amp;xid=0&amp;utm_source=adwords&amp;utm_term=daily%20wire%20membership&amp;utm_campaign=Search+-+Daily+Wire+Brand&amp;utm_medium=ppc&amp;hsa_kw=daily%20wire%20membership&amp;hsa_ad=565626671705&amp;hsa_src=g&amp;hsa_ver=3&amp;hsa_grp=48841905760&amp;hsa_cam=927227687&amp;hsa_tgt=kwd-1422313638620&amp;hsa_acc=6411461344&amp;hsa_mt=b&amp;hsa_net=adwords&amp;gclid=EAIaIQobChMIysrxkJ_M-gIVyODICh1gWghwEAAYASAAEgJQcPD_BwE" target="_blank" rel="noopener">DailyWire+ members</a>.
If you’re not already a member, <a href="https://get.dailywire.com/the-greatest-lie/subscribe-v2?utm_campaign=greatestlie&amp;utm_medium=website&amp;utm_source=email&amp;utm_content=publicity&amp;cid=greatestlie&amp;mid=e&amp;xid=0&amp;_gl=1*1h0q1ro*_ga*MjA1NDI4NTExNy4xNjY0OTEwNDc2*_ga_CZKR9ZYKJP*MTY2NTA4MjkwMS45LjEuMTY2NTA5MjIxNS4xOC4wLjA" target="_blank" rel="noopener">you can sign up here</a> and gain access to Owens’ new documentary — as well as lots of other content, including feature films, original series, video podcasts, and other documentaries, like the Matt Walsh hit “<a href="https://www.dailywire.com/videos/what-is-a-woman" target="_blank" rel="noopener">What is a Woman?</a>”
Amanda Prestigiacomo contributed to this report.
Related: <a href="https://www.dailywire.com/news/joe-rogan-praises-the-daily-wires-what-is-a-woman-documentary-its-fing-amazing-fantastic">Joe Rogan Praises The Daily Wire’s ‘What Is A Woman?’ Documentary: It’s ‘F***ing Amazing,’ ‘Fantastic’</a>

KANYE WEST

JPMorgan Chase Ends Its Banking Relationship With Kanye West [UPDATED]

JPMorgan Chase Ends Its Banking Relationship With Kanye West

Candace Owens

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