Taibbi: Judge Rakoff’s Rejection of SEC/Citigroup Settlement

November 29, 2011 2:00pm by Barry Ritholtz

Keith and “Countdown” contributor 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.”

Matt Taibbi on Judge Rakoff’s decision to reject the SEC’s latest settlement with Citigroup

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