The job of deciding whether to approve the Securities and Exchange Commission's proposed $285 million settlement with Citigroup could have fallen to any number of federal judges in Manhattan. That the case wound up before Judge Jed Rakoff, who only very, very grudgingly approved previous SEC settlements with the likes of Bank of America, tickled no one more than the judge himself. At the start of a standing-room-only hearing on the settlement in Judge Rakoff's Manhattan courtroom Wednesday, he said he was reminded of Humphrey Bogart's line in Casablanca: "Of all the gin joints in all the towns in all the world, she walks into mine."
Rakoff Grills SEC at Hearing on $285 Million Citi Settlement
November 9, 2011
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