JP Morgan is going to have to pay $410 million dollars for manipulating energy markets in California and Michigan between 2010-2012, and if you're thinking that this sounds an awful lot like what Enron was doing, well, you're right! It was ! Via CNN Money
From the Bloomberg linkie, it looks like $285M of it is a civil penalty (i.e., punitive fine). $125M is to be returned to the ratepayers via the Operator.
FWIW, they also agreed to give up on $262M worth of disputed charges, which is at least a small bit of good news for electricity users in Cali.
Note to self: Posting informed and coherent comments that get to the point and are actually relevant to the topic at hand instead of just cracking stoopid jokes might help.
From the Bloomberg linkie, it looks like $285M of it is a civil penalty (i.e., punitive fine). $125M is to be returned to the ratepayers via the Operator.
FWIW, they also agreed to give up on $262M worth of disputed charges, which is at least a small bit of good news for electricity users in Cali.
Note to self: Posting informed and coherent comments that get to the point and are actually relevant to the topic at hand instead of just cracking stoopid jokes might help.
Big whoop. They could find 410 million in lost change under the sofa cushions in the lobby.
Ah, the asterisk...
A tiny little ball of poop sitting atop your hot fudge sunday.
I don't need to see your p-ness to tell that you are a commenting stud.
Now we just need to convince 'Trix to allow comments...
Bruce Willis is going to be SO pissed...
Double-sigh.
(BTW, how are those p-scores calculated anyway?)