U.S. District Judge Jed S. Rakoff intimated in October that he wasn't happy with the Securities and Exchange Commission's proposed settlement with Citigroup over the creation and sale of a security that cost investors $700 million.On Nov. 28, Rakoff made it official: The proposed $285 million penalty seemed disproportionately small when compared with the alleged losses, and the agreement would keep secret crucial details of the risky instrument Citigroup was selling. What's more, Rakoff said, the proposed settlement didn't serve the public interest because it didn't do anything to restore faith in the financial markets.
展开▼
机译：美国地方法院法官杰德·S·拉科夫（Jed S.Rakoff）在10月暗示，他对美国证券交易委员会（Securities and Exchange Commission）与花旗集团（Citigroup）就创建和出售耗资7亿美元的证券进行和解的提议感到不满意.11月28日，拉科夫（Rakoff）正式宣布：与所称损失相比，拟议的2.85亿美元罚款似乎不成比例，而且该协议将使花旗集团出售的风险工具的关键细节保密。更重要的是，拉科夫说，拟议中的和解不符合公共利益，因为它没有采取任何措施来恢复对金融市场的信心。
展开▼
