Regulators accuse JPMorgan of manipulating electricity markets

Regulators accuse JPMorgan of manipulating electricity markets

money.cnn.com

In an official notice, the Federal Energy Regulatory Commission alleged that the bank had engaged in "eight manipulative bidding strategies" in California and Midwestern markets.

The strategies led to payments to JPMorgan "of tens of millions of dollars at rates far above market prices," according to the notice. JPMorgan is expected to pay a massive fine related to the allegations.

(visit the link for the full news article)


Related News Links:
www.reuters.com

Link to sulaw's thread:

JPMorgan settles electricity manipulation case for $410 million

www.abovetopsecret.com...

And you thought they were just a bank.

The amount of Big Bank Fraud in this world makes me sick. From manipulating the housing market, the foreclosure market, the credit markets, the gold market, the silver market and now the electricity market.

Anything they touch, they manipulate.

Now they get a slap on the hand for $400 million. But again, nobody goes to jail!!!!!!!!!!!!!!

This was a calculated 7 year plan to fraudulently manipulate the market to obtain billions of dollars of profit.

The second link outlines the plan.



money.cnn.com
(visit the link for the full news article)

Goldman Sachs and all their friends manipulate Aluminum markets as well, so every time you buy foil or canned goods, your paying a few cents extra, all of which goes into their pockets.....

The too Big banks get crazy corrupt and start looking to manipulate whatever they can.

The smaller indy banks that have been around for the last 100-150 years, you can walk in, and the Bank Pres will know you by your first name, knew your Dad and Grandfather, and they dont scam for the most part....

the case has already been settled. their going to pay only 410 million
there is a thread here.

JPMorgan settles electricity manipulation case for $410 million,

reply to post by dominicus


Exactly why I closed all my big bank accounts and moved my money to a small local bank.

Why people keep supporting this just maddens me. I've tried without success to get my son to close his BOA account. He doesn't get it. Says it's "too much of a hassle to change banks".

reply to post by hounddoghowlie


Yes, I said that in my OP. The settlement is outlined in the 2nd link along with details of the 7 year plan.

Your link isn't working.

reply to post by Julie Washington


fixed the link

less than half a billion to make probably more than a billion or two not a bad payday.

reply to post by Julie Washington


They didn't accuse JPMorgan of messing with electricity prices. They settled it. I posted it in this thread:

JPMorgan settles Manipulation case for $410million

Originally posted by Julie Washington
reply to post by dominicus

 

Exactly why I closed all my big bank accounts and moved my money to a small local bank.

Why people keep supporting this just maddens me. I've tried without success to get my son to close his BOA account. He doesn't get it. Says it's "too much of a hassle to change banks".

I convinced a bunch of friends and family, including my Mother, to switch over to the smaller ones.

I'll be moving to the country side next few months, and will also transfer funds to a local bank there. As long as we keep chipping away little by little, the too bigs will self sabotage themselves to the ground with more and more fines.

If only Monsanto would disappear as well, that would be a dream come true. Or at least kick them out of the U.S.

reply to post by sulaw


That dog gone ATS search failed me. I added your thread link to the OP.

reply to post by Julie Washington


JPMorgan Chase & Co. is an American multinational banking and financial services holding company, they were an investment institution before they became a bank

Yes they like many other too big to fail entity in this nation became banks after the 2008 Market crash, in order to get status for government bailouts.

They are part of the original founders of the Federal Reserve and like many already knew also part of the shadow government that runs the nation behind the presidential seat.

Money talks BS walk

So is fair to say that they do manipulate the markets and the electricity is part of that market.

You know what, it is time to seize them and sell them off to pay down all the debt.

From the START they were a crooked company, c'mon J P Morgan was a CROOK deluxe... look at his dealings wiht his newspapers and the 1907 panic. Something he helped to create the scare via his newspapers running stories against other companies competing with him, bought up/into the banks to just get a STRANGLEHOLD on $.

But hey, you can look at him like a philanthropic gentelman who didn't make penny one on anything he ever did.

You'd be wrong though.

Derek

The rockefellers, rothschilds, royal families have controlled everything for a long time but most dont know this because they keep their dealings secret. They have bought out lots of allegiance and friends, especially in the media and government regulatory bodies.

Unless you get caught there is no crime committed. If you have trillions to spare, well that BUYS lots of "justice" doesn't it?

Hypocrisy in, hypocrisy out. At least the media is starting to touch some of the corruption. They are touching the tip of the iceberg. Most of the iceberg is below the water-line though so good luck.

I stopped being angry a long time ago. Its bad for my health. I am waiting for everyone else to catch up so we can all be angry together. Then it might be worth it!