“Sources told the Journal the deal could come in close to a staggering $1 billion, the largest payout in the history of the Federal Energy Regulatory Commission (FERC), which overseas power trading markets. JPM and FERC, the little regulator that could, are reportedly exchanging drafts of an agreement. Sources told the Journal the bank is working quickly to finish the deal so they can gear up for even more regulatory hoopla in the wake of the London Whale debacle. The filings describe how traders rigged their bidding in order to be eligible for ‘make-whole’ payments that would cover trading losses and generate a healthy profit, according to the Journal.”
http://www.businessinsider.com/jpms-1-billion-settlement-2013-7
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Los Angeles sheriff gives comedian award for racially-motivated routine
There Are Now At Least 14 Digital Currencies Worth More Than $1
Cop Fractures Woman’s Face, Says “I’m Going to Push Your Nose Through Your Brain”
What It Means to Be An NSA "Target": We Need Immediate FISA Amendments Act Reform
Swiss Gold Repatriation Almost Reality
Insanity on the Thames
Medical Marijuana Patient Jerry Duval's Prison Term Could Cost Taxpayers More Than $1.2 Million
The Real Reason for the Iraq War
A New System to Link Human Knowledge with Machine Data
American Totalitarianism and the Culture of Fake News
Stuxnet goes out of control: Chevron infected by anti-Iranian virus, others could be next
Global elite to criminalize "unexplained wealth" in crackdown on e-cash
The Government-Created "ME ME ME Generation"
Police Chief Threatens To Target Anyone Advocating Legalizing Marijuana
Watch Ron Paul Crush It On His New TV Channel