6 Free Financial Modeling Lessons...and More.

Enter your e-mail below to get our new Free Modeling Tutorials ($200+ Value).

SEC Citigroup Plea Bargain Economist
 

Are Plea Bargains Too Soft?

Moneyball's picture
ER
 
Points)
 on 6/12/12 at 6:00pm
citigroup-logo.jpg

The Economist's Unsettling Wall Street is an article about the SEC accepting plea bargains rather than pursuing legal actions against banks which would provide transparency and a legitimate guilty verdict. In addition,

[plea bargains] also disarms aggrieved investors of a weapon (a conviction) which they might have used in future lawsuits.

[quote]...a New York district judge, in rejecting a $285m settlement between Citigroup and the SEC."