Mortgage Advisor
Rakoff Rejection of Citi / SEC Settlement Pierces Wall Street's Alice-in-Wonderland Thinking (forbes)
It’s not every day that a federal judge issues a landmark decision,
particularly one that could help investors wanting to sue giant financial
institutions. But that’s what happened Monday, when U.S. District Judge Jed
Rakoff rejected a proposed $285 million settlement between Citigroup and the
Securities and Exchange Commission that would have allowed Citi to put the
SEC’s mortgage-backed-securities case in the rear-view mirror.
