Forum Post: Kudo to this NYC judge. A true patriot! Judge blocks Citigroup-SEC settlement
Posted 12 years ago on Nov. 28, 2011, 7:39 p.m. EST by qazxsw123
(238)
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Rakoff wrote in an opinion dated Monday.
"[A] case like this ... touches on the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives, there is an overriding public interest in knowing the truth,"
http://www.reuters.com/article/2011/11/28/us-citigroup-sec-idUSTRE7AR1K020111
Here's another commentary piece on this Patriot looking out for the 99 percent's best interests.
Why Judge Rakoff Was Right to Block the Citigroup Settlement
"What is at stake is the government’s overall failure to bring to book Wall Street for its conduct during the credit bubble."
Read more http://www.newyorker.com/online/blogs/johncassidy/2011/11/why-judge-rakoff-was-right-to-block-the-citigroup-settlement.html#ixzz1f6q6BuR7
You link was dead when I tried it.
Here is another
http://newsandinsight.thomsonreuters.com/Secu...
"An application of judicial power that does not rest on facts is worse than mindless, it is inherently dangerous," Rakoff wrote in an opinion dated Monday.
"In any case like this that touches on the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives, there is an overriding public interest in knowing the truth," he added.
Rakoff called the settlement "neither reasonable, nor fair, nor adequate, nor in the public interest," and said it was hard to tell whether by settling the SEC was getting more than "a quick headline." He set a trial date of July 16, 2012.
Working Link
Maybe the rule of law is not quite dead yet.
hell yes, thx for the link homie.
Thats a big win. You cant help but feel there's some ows sentiment behind that decision. One small step to taking back our democracy. True hero. Gutsy
All hail ". . .overriding public interest. . ." !!!
This is progress right here.