Looks like JPMorgan & Barclays recognized a good scam when they saw one:
JPMorgan in Talks to Settle Energy Manipulation Case for $500 Million
By JESSICA SILVER-GREENBERG and BEN PROTESS
NY Times
The accusations against JPMorgan surfaced in a confidential government document, reviewed by The New York Times, that outlined a pattern of illegal trading in California and Michigan electric markets. The document also claimed one of JPMorgan’s most senior executives gave “false and misleading statements” under oath.
On Tuesday, FERC ordered Barclays to pay a $470 million penalty for suspected manipulation of energy markets in California and other Western states by some of its traders.
Posts
2 comments:
great posts by and concerning Bill Black.
http://neweconomicperspectives.org/2013/07/from-an-appraiser.html#more-5818
Ken - thanx for the great link! I'm going to add NEP to my blog roll.
Steve
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