The SEC Says It Wants Big Banks to Admit Guilt, But Doubts Remain

Remember when federal Judge Jed Rakoff scared the bejesus out of Wall Street in 2011? That’s when he refused to sign off on a $285-million civil settlement between Citigroup (C) and the Securities and Exchange Commission over a massive mortgage fraud case. Judge Rakoff balked at the logic of the settlement because Citigroup was not [...] View the full post at: The SEC Says It Wants Big Banks to Admit Guilt, But Doubts Remain Related posts: Fed Asks Banks to Remain Silent on ‘Stress Test’ Results Cuomo Targets More Banks In Auction-Rate Securities Bailed-out Banks Considering Buying Toxic Assets