JP Morgan Under Investigation for Manipulating Power Markets

JP Morgan is a criminal enterprise sanctioned at the highest levels of the U.S. government.  Jaime Dimon is nothing more than a mob boss.  Period.  End of story.

Key Quotes:
The bank has twice received subpoenas in the last three months to produce 25 e-mails detailing how it bid for energy contracts. The bank has said the correspondence is privileged. The commission, which polices energy markets, is investigating whether the bank manipulated markets to gain $73 million and then failed to be truthful about it.

As evidence, they cite an initial series of e-mails the bank refused to share because they were “privileged.” In reality, the commission says, they were not. To make their point, the commission reprinted several of the e-mails.

In one e-mail from March 2011, the head of principal trading in the bank’s commodities group tells the head of JPMorgan’s commodities group: “I will handle it but it may not be pretty.”

Read the full article here.

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