JPMorgan Pays $410 Million For Enron-Style Manipulation Of Energy Market

By: Monday August 5, 2013 7:51 am

 It’s the same old song. JP Morgan Chase & Co. has been caught once again breaking the rules to snatch profits and will only have to pay a small portion of its loot to make it all go away. No criminal prosecutions and no reforms, just a speeding ticket on the bankster highway. This time [...]

The No Accountability for Bank Fraud Blues

By: Thursday November 1, 2012 7:45 am

I noted yesterday that the Federal Energy Regulatory Commission planned to fine Barclays Bank for its role in manipulating US energy markets. The fine came out and it was a record, a $470 million penalty. After the London market had closed, the Federal Energy Regulatory Commission announced the scale of the fine – $435m, plus [...]

FERC Set to Announce Fines on Barclay’s Bank for Energy Trading Manipulation Today

By: Wednesday October 31, 2012 8:30 am

Barclays Bank, the only bank to date to settle in the Libor scandal, could face more regulatory probes down the line on a number of other issues, including an energy trading scandal in the US.

JPMorgan Chase’s Precarious Position Amid Interlocking Scandals and Investigations

By: Monday July 9, 2012 8:55 am

One of the 16 banks sure to be implicated in the Libor rate-rigging scandal is JPMorgan Chase. Their submissions to Libor consistently fell on the low end of the scale, presumably fitting for what was thought to be a first tier bank, but we don’t know yet what those responsible at the bank for submitting [...]

JPMorgan, Barclays, Other Banksters Investigated for Manipulating Electricity Markets

By: Wednesday July 4, 2012 7:37 am

The Financial Times reported yesterday that the Staff of the Federal Energy Regulatory Commission (FECR) was investigating a number of electric power marketing affiliates owned by major banks — including JP Morgan Chase, Barclays, Deutsche Bank AG, and others, on charges of manipulating electricity prices.  Immediately, reporters starting wondering whether this is like Enron’s antics [...]

Shale Gas Export Boom: Planned All Along?

By: Friday May 4, 2012 2:53 pm

Cross-Posted From Nation of Change The race is on, full-steam ahead for the United States shale gas industry [PDF] in its quest to pipe and export gas obtained via the hydraulic fracturing process to lucrative global markets. On April 16, Cheniere Energy Inc. became the first corporation in the United States to receive approval by the Federal Energy [...]

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