Godlike Productions - Conspiracy Forum
Users Online Now: 1,453 (Who's On?)Visitors Today: 227,353
Pageviews Today: 302,047Threads Today: 66Posts Today: 1,194
02:18 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check

 
DoorBert

User ID: 1860002
United States
07/30/2013 09:04 AM

Report Abusive Post
Report Copyright Violation
JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
Bloomberg reports JP Morgan has agreed to pay a $410 penalty over allegations it manipulated U.S. electricity markets.

[link to www.ferc.gov (secure)]



Now that the previously reported "fine" of $400 million which the firm just got slapped with following its manipulation of various energy markets, is fact...

JPMORGAN AGREES TO PAY $410 MLN TO SETTLE U.S. ENERGY PROBE
... One may say JPM has just admitted it is the next Enron. One would be wrong: "JPMVEC admits the facts set forth in the agreement, but neither admits nor denies the violations." In other words, JPM is a Schrodinger Enron: it admits the facts that the company best known for manipulating electricity - a charge which in 2000 was enough to crush the company, and which is now a fine equal to 0.4% of the firm's $99.5 billion in revenues - but neither admits nor denies this.

But the biggest question plaguing Jamie Dimon this morning, is whether he will pay the $410 million FERC find with a personal check... or petty cash.

[link to www.zerohedge.com]
DoorBert (OP)

User ID: 1860002
United States
07/30/2013 09:05 AM

Report Abusive Post
Report Copyright Violation
Re: JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
Let's cut the crap. Jamie Dimon for Fed Chair.

[link to twitter.com]
DoorBert (OP)

User ID: 1860002
United States
07/30/2013 09:08 AM

Report Abusive Post
Report Copyright Violation
Re: JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
JPMorgan Chase & Co. (JPM) manipulated power markets in California and the Midwest, the U.S. Federal Energy Regulatory Commission claimed in a proceeding that sets up a settlement to be announced as early as today.

A JPMorgan trading unit gamed wholesale electricity markets from September 2010 to June 2011, leading to overpayment of “tens of millions of dollars at rates far above market prices” in California alone, FERC staff said in a Notice of Alleged Violations yesterday.

The nation’s biggest bank and its chief energy-market regulator have agreed to settle the matter with sanctions that include a fine of about $400 million, according to a person familiar with the case who asked not to be identified because the terms aren’t yet public. Brian Marchiony, a JPMorgan spokesman, declined to comment on the FERC action.

“JPMorgan picked the pockets of California households and businesses, and their manipulation increased the electric bills that people pay,” said Tyson Slocum, director of the energy program at Public Citizen, a Washington-based consumer advocacy group.

[link to www.bloomberg.com]
Anonymous Coward
User ID: 37854989
Australia
07/30/2013 09:33 AM
Report Abusive Post
Report Copyright Violation
Re: JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
Are consumers going to be refunded from the proceeds of the fine?
Sikhed
Cat herder

User ID: 39435009
United States
07/30/2013 10:16 AM

Report Abusive Post
Report Copyright Violation
Re: JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
Are consumers going to be refunded from the proceeds of the fine?
 Quoting: Anonymous Coward 37854989


Haha, good one!

Don't think JPM is the next Enron:
Enron never produced anything; never had a product or service. It was the ultimate scam sucking in money and returning nothing but fluff and promises. It is amazing Enron even got off the ground in the first place.

Enron was the epic fail of the "if you build it, they will come" mindset.

But JP Morgan could very well be the next Lehman Brothers.

Last Edited by Sikhed on 07/30/2013 10:23 AM
doom360
Anonymous Coward
User ID: 44259709
United States
07/30/2013 12:45 PM
Report Abusive Post
Report Copyright Violation
Re: JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
bump
DoorBert (OP)

User ID: 1860002
United States
07/30/2013 04:48 PM

Report Abusive Post
Report Copyright Violation
Re: JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
The Bernanke Crime Family

Alleged Leaders, Bosses, & Associates:

[link to farm8.staticflickr.com]
DoorBert (OP)

User ID: 1860002
United States
07/30/2013 04:50 PM

Report Abusive Post
Report Copyright Violation
Re: JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
The JP Morgan Trade Diagram

[link to farm3.staticflickr.com]
R&y

User ID: 24700583
United States
07/30/2013 04:54 PM
Report Abusive Post
Report Copyright Violation
Re: JP Morgan's CEO Neither Admits nor Denies its the Next Enron - Will Pay $410M Fine from Petty Cash or Personal Check
Unless they pay triple damages to the people they cheated, and a dozen or two executives go to prison this is just business as usual.

News








We're dropping truth bombs like it's the end of days!