Federal Judge Strikes Down $285 Million Citigroup Settlement, Cites Need For "Truth In Financial Markets."

letterstomycountry:

Clarification for those that may find this headline confusing: the judge wasn’t striking down the ruling to benefit Citigroup.  He did it because he feels that Citigroup shouldn’t be allowed to bargain its way out of being held accountable for wrong-doing.  

The problem, of course, is that the SEC has discretion on whether to bring charges or not.  And the SEC might decide that taking the case to trial is not worth the taxpayer’s expense (and you can bet it will be an expensive one, given the defendant and amount in controversy).

What people seem to not realize is that Robert Khuzami, the head of the SEC was chief counsel for Deutsche’s CDO business during the crash in 2008 and has ties to Goldman as well as officers from Citi, Morgan Stanley and JP Morgan.  He already settled with Goldman. This man is scum.

(via socialuprooting)

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   What people seem to not realize is that Robert Khuzami, the head of the SEC was chief counsel for Deutsche’s CDO...

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    So… we’re just gonna let them go...it would cost us too much

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