Forum Post: JPMorgan Chase accused of rigging energy markets
Posted 10 years ago on May 6, 2013, 9:45 p.m. EST by GirlFriday
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The alleged market manipulation cost the states $83 million in excess payments.
The nation's largest bank could face stiff penalties from the Federal Energy Regulatory Commission (FERC), a low-profile agency charged with regulating the sale of electricity. FERC has not yet made a public statement about the investigation, but analysts suggest the regulator is likely to pursue charges. Call it the "Enron effect."
Awe.........it'll be another slap on the hand. http://www.csmonitor.com/Environment/Energy-Voices/2013/0506/JPMorgan-Chase-accused-of-rigging-energy-markets
They've rigged the casino; fixed the table; bought the house.
The penalties are a percentage of the profits.
As long as "something appears to be done" about this kind of crime, the repeaters (sorry, reporters) can put everyone's mind at ease.
Now, back to our regular programming.
Exactly.
Big criminal organization. Unfixable under the existing system.