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Non-Tech : Banks--- Betting on the recovery

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From: David C. Burns	11/10/2011 1:09:21 AM
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Judge attacks SEC’s Citi settlement Financial Times A US judge has attacked Securities and Exchange Commission enforcement policies in a hearing which casts doubt on whether he will approve a settlement between the securities regulator and Citigroup over the sale of mortgage-related products. Judge Jed Rakoff, an outspoken critic of recent SEC cases, spent a hour-long court hearing on Wednesday honing in on several aspects of the agreement, including the longstanding agency policy of allowing defendants to settle without admitting or denying wrongdoing. ,,, Judge Rakoff inquired how the $95m penalty would affect Citigroup, adding that he did not have a microscope with him, suggesting it was minuscule. ft.com

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