The New York Post wrote an article about community leaders from Queens who are complaining that a $4.8 million fine issued to Morgan Stanley for a price-fixing scheme is not enough. Senator Gianaris feels that such an insignificant fine would continue to permit the bank to reap the benefits of its illicit profits.
Two local lawmakers have asked a judge to pull the plug on a deal that leaves victims of a huge electricity price-fixing scheme out in the cold.
State Sen. Michael Gianaris and City Councilman Peter Vallone Jr., both Queens Democrats, wrote Manhattan federal Judge William Pauley asking him to order Morgan Stanley to refund millions of dollars to Con Ed customers.
Queens, NY – Continuing their efforts to protect energy ratepayers, Senator Michael Gianaris and Council Member Peter F. Vallone, Jr. are pushing a federal judge to reject the proposed settlement for an illegal price-fixing case involving Morgan Stanley and two western Queens power plants that caused ratepayers to lose nearly $300 million in two years.
The Queens Chronicle investigates the alleged prixe-fixing scheme employed by Morgan Stanley and KeySpan that overcharged New Yorkers for electrictity while garnering Morgan Stanley and KeySpan $21.6 million. Senator Gianaris believes that the Department of Justice's recommended fine of $4.8 million is inadequate.
A price-fixing scheme allegedly concocted by Morgan Stanley and KeySpan, and involving Astoria Generating Co., may have overcharged New Yorkers for electricity while garnering Morgan Stanley and KeySpan millions, according to published reports and two area politicians outraged at the scheme: Councilman Peter Vallone Jr. (D-Astoria) and state Sen. Mike Gianaris (D-Astoria).
The Queens Courier wrote an article about the Department of Justice's $4.8 million settlement with Morgan Stanley for their illegal pricing scheme, which cost ratepayers roughly $300 million. Senator Gianaris and other local politicians are pushing the Dept. of Justice to increase the fine, arguing that the current settlement is unacceptable and would allow Morgan Stanley to keep millions in profit.
Local elected officials are expending “energy” to ensure Morgan Stanley doesn’t get a quick “fix” to its illegal pricing ploy.
This video shows Senator Gianaris voting against a bill that does not allow residents from power plant-heavy areas, such as western Queens, to become trustees of the New York Power Authorities Board of Trustees.
The Queens Gazette wrote an article about the Global Kids Annual Youth Conference at Bryant High School, where Senator Gianaris met with students to talk about energy, climate change, and environmental policy.
A group of Global Kids Leaders at William Cullen Bryant H.S. in LIC met with state Senator Michael Gianaris on April 23, for a forum to celebrate Earth Day and explore how young people can improve environmental conditions in Queens.
Gianaris imparted strategies to the student leaders on influencing public policy to improve air quality and energy efficiency in Western Queens.