of accusations of bankers' wrongdoing.
Now it is about manipulating California electricity markets.
Interestingly enough, the accusations now come with teeth:
"The FERC also said four of the company's power traders -- Daniel Brin,
Scott Connelly, Karen Levine, and Ryan Smith -- have 30 days to show why
they should not be assessed a total of $18 million in civil penalties."
The trades led to a profit of $35 million; the Federal Energy Regulatory Commission demands a fine equal to the ill-gottne profit (with interest) plus $435 million in civil penalties.
"Scary stuff," said one senior executive at a trading firm. "Which I guess is the point."
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