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- WSJ Law Blog Takes Misguided Pot Shot at Judge Rakoff
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2011-11-29 — bloomberg.com
"The proposed $285 million penalty seemed disproportionately small when compared with the losses, Rakoff ruled, and would keep secret crucial details of the risky instrument Citigroup was selling. What's more, he said, the proposed settlement didn't serve the public interest because it didn't do anything to restore faith in the financial markets. The judge ordered Citigroup and the SEC to prepare for a trial in July."
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