Tag Archives: FERC

JPMorgan banksters to settle in price manipulation scheme

July 19, 2013 · by · in News · Leave a comment

JPMorgan Chase, the Wall Street giant whose reputation in Washington has eroded in a matter of months, is now moving to avert a showdown over accusations that it manipulated energy prices. http://dealbook.nytimes.com/2013/07/17/jpmorgan-in-talks-to-settle-energy-manipulation-case-for-500-million/?hp  The nation’s largest bank is seeking to settle with the federal agency that oversees the energy markets. The regulator, the Federal Energy Regulatory […]

Banksters at Barclays fined for fixing energy markets

July 17, 2013 · by · in News · Leave a comment

The Federal Energy Regulatory Commission has fined Barclays $435m (£287m) for manipulating energy markets in California and other states. http://www.bbc.co.uk/news/business-23337178  In a series of electronic messages, according to the FERC complaint, the traders boasted of their ability to manipulate markets. In an email exchange, trader Scott Connelly’s colleagues asks: “You going to have fun with […]