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Pam and Russ Martens: The Fed has misled the public about the 'strength' of the megabanks
By Pam and Russ Martens
Wall Street on Parade
Monday, April 26, 2021
On Wednesday, March 11, 2020, the World Health Organization declared COVID-19 to be a pandemic. From that point on, through March 23, the share price performance of the Standard & Poor's 500 began to diverge dramatically from the share price performance of the megabanks on Wall Street.
... Dispatch continues below ...
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From the start of the year in 2020, the S&P 500 fell a little more than 30 percent through March 23 while Bank of America, Morgan Stanley, Goldman Sachs, and JPMorgan Chase were down from 40 to 50 percent. Citigroup was down by a stunning 56 percent. (Citigroup had closed at $79.89 on December 31, 2019. By the close of trading on March 23, 2020, it was a $35.39 stock.) ...
... For the remainder of the report:
https://wallstreetonparade.com/2021/04/the-fed-has-misled-the-public-abo...
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