Matt Taibbi of Rolling Stone discuss the remarkable decision by U.S. District Judge Jed Rakoff to reject a $285 million settlement between Citigroup and the Securities and Exchange Commission for misleading investors. Taibbi points out that banks take punitive settlements in stride, saying, “They recognize that every now and then they’re going to get dragged into court, they’re going to have to give a little bit of money to somebody, and then they get to walk away and keep doing it.” Here is the link if you can’t see clip below.
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Will Judge Rakoff get subtly assassinated, promoted to a non-influential position or get a huge job offer, or be blackmailed into resigning? Check back in a year or two.