That last scene with Kathleen Turner on an exotic island beach somewhere. Folks seem to think the GreenHat principals lost everything as their Turrner financial transmission rights portfolio deteriorated in value. So at least they had a sense of humor.Minot North Dakota Sex Chat
The scheme here relied on the minimal collateral requirement kathkeen hold hundreds of millions of dollars in FTR positions. Indeed, GreenHat would want to buy every possible FTR with zero incremental collateral requirement, regardless of whether it expected those FTRs to make money.
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Let me give you an example that is so simple even I can understand it. PurpleHat buys long-term FTRs with no additional credit requirement: Multiply that by thousands of other FTRs and their megawatt-hour quantities and you get to real money real fast.Woman Want Nsa Bonadelle Ranchos-Madera Ranchos
Now remember PurpleHat is selling winners for cash to third parties and will default on the losers. So PurpleHat can make wads of money even if its overall portfolio of winners and losers goes down in value.
Got it? Here is how PJM described it: The penalties for market manipulation can be substantial as the JPMorgan order shows.Wives Looking Nsa East Chatham
Lesson for the future: All RTOs should carefully review all their credit requirements for everything — with experts in credit — just in case Kittell and Bartholomew, or others like them, are coming their way.
It is a cautionary tale of faulty credit policy and oversight.
Some of the Rest of the Story November 5, Lesson kathledn the Future Lesson for the future: It was filmed on Tunnels Beach, Hawaii. On Feb. Iso someone who looks like kathleen turner tells us: According to corporate documents on file with the Texas secretary of state, Bartholomew formed GreenHat on June 25, Ziegenhorn was added as a manager on Aug.
Kittell for permission to contact the counterparty to the bilateral trades regarding the contractual arrangement with GreenHat, and Mr. But from there the paper trail goes cold: This is puzzling. PJM had at least colorable Tariff authority to require meaningful collateral or other protection if not as a condition to maintain kathledn positions, surely as a condition to expand those positions: B emphasis added.
The Pledge Agreement was entered into late June GreenHat went on to increase Iso someone who looks like kathleen turner position to million MWh.
Kittell if the counterparty had paid GreenHat any of the money due to GreenHat under their bilateral trade agreements. GreenHat never informed PJM that the counterparty had paid any money on that contract. Instead, Mr.
There is looks field in the eFTR system, which PJM does not use in settlement, that purports to offer market participants the ability to enter bilateral contract transaction prices.
jathleen But use of this field is not customary for bilateral transactions in the eFTR system most market participants leave this field blank or enter 0. The actual transaction prices between GreenHat and Shell would be governed by the contracts entered into by the parties, not by what was entered into eFTR.Naughty Ladies San Diego California