Eric Holder should be relieved that FERC didn't accuse JPMorgan of lying

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Eric Holder should be relieved that FERC didn’t accuse JPMorgan of lying

Eric Holder should be relieved that FERC didn’t accuse JPMorgan of lying

Bloomberg-

Here’s someone else who should be relieved at the way last week’s settlement worked out between JPMorgan Chase & Co. and federal energy regulators, in addition to the executives who run the bank: U.S. Attorney General Eric Holder.

This is an angle I haven’t seen mentioned in the coverage of the bank’s $410 million accord with the Federal Energy Regulatory Commission. (The agency accused JPMorgan of fraud and manipulating electricity markets in California and the Midwest from 2010 to 2012.) One of the most important parts of the deal is that the agency didn’t accuse JPMorgan or any of its employees of lying to its investigators. Had it done so, this may have raised uncomfortable questions for the Justice Department about whether the bank had violated the terms of a non-prosecution agreement over antitrust allegations in July 2011.

[BLOOMBERG]

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