Seeking Alpha

FERC accusing JPMorgan of electricity price manipulation

  • The energy regulator alleges JPMorgan engaged in "eight manipulative bidding strategies" in 2010-11 aimed at getting electricity providers in California and the Midwest to overpay.
  • The WSJ previously reported JPMorgan is expected to settle with FERC for $410M + the relinquishing of ~$200M in unpaid electricity claims.
  • FERC recently ordered Barclays and four of its traders to pay $487.9M over alleged price manipulation that took place from 2006-08.
Comments (4)
  • Chances this crime would have gone unnoticed with a President Romney = 100%
    29 Jul 2013, 06:38 PM Reply Like
  • And CEO Jamie Dimon remains "King of the World."
    29 Jul 2013, 07:53 PM Reply Like
  • At least Dimon got rid of Staley, the one who made all his American money, but when it came to his multi multi million$ yacht found that the American flag wasn't good enough for a real patriot like him. He flagged her in the Marshall Islands!
    29 Jul 2013, 08:28 PM Reply Like
  • Foxes watching the chicken coop. JPMs CEO spent 6 yrs. on the NY Feds board of governors while running JPM.
    30 Jul 2013, 03:12 AM Reply Like
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