Federal Judge Blocks Citigroup Settlement with the SEC

[irishScott]

http://www.nytimes.com/2011/11/29/business/judge-rejects-sec-accord-with-citi.html?_r=1&hp

The judge, Jed S. Rakoff of United States District Court in Manhattan, said that he could not determine whether the agency’s settlement with Citigroup was “fair, reasonable, adequate and in the public interest,” as required by law, because the agency had claimed, but had not proved, that Citigroup committed fraud.

So there's at least one honest judge in the federal judicial system. :thumbsup:

 

[Miramonti]

http://www.nytimes.com/2011/11/29/business/judge-rejects-sec-accord-with-citi.html?_r=1&hp



So there's at least one honest judge in the federal judicial system. :thumbsup:

Or atleast one BofA/WF shareholder.

 

[soccerballtux]

somebody pay him off quick.

 

[Craig234]

Duplicate, and note this was not a Republican-appointed judge.

http://forums.anandtech.com/showthread.php?t=2208879

 

[Zebo]

Revolving door. SEC boys want to work for the IB's and make millions vs GS 11-15 and former IB officers get politically appointed to the top to divert the heat and final say. It's a joke. If the rule of law was applied to these offenses most of these firms would be bankrupt and officers in prison as virtually all of them have committed this general class of offense three or more times as this graphic shows.

The guy who put 1000 of the best defended people in jail after s&l crisis claims he can put 10,000 in jail today but today fraud is a business model on Wall Street and with our government so they won't let Bill Black loose on them. Just prepare to get fucked.

 

[jstern01]

Based upon that chart, I am surprised that JP Morgan was so late to the initial violation party.