Wednesday, November 14, 2012

JP Morgan Electric Tariff Suspended

A friend reports in:

If there's market volatility amongst multiple asset classes tomorrow, this might be why:

The U.S. Federal Energy Regulatory Commission (FERC) on Wednesday suspended the electric market-based rate authority of JPMorgan Chase & Co's energy trading units for submitting false information to the commission. 
In a release, FERC said the suspension prohibits the U.S. bank's JP Morgan Ventures unit from selling power at market-based rates for six months effective April 1, 2013.

2 comments:

  1. Looks good on the scumbags. Now FERC can tackle Blyth and Jamie for the silver manipulation as Bart of the CFTC has no balls.

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  2. OK, when does an Air Force General come in? We need some strippers to keep up the erotica up in this story. Oh, and we need a sniper. Snipers are always a bonus for action. I wonder if one of those Secret Service guys are involved.

    I would say this could end up like Mission: Impossible or 24, but it's been going towards Blazing Saddles, unfortunately at the expense of the soldiers and civilians.

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