Holding Wall Street Accountable
A federal judge in New York has rejected a proposed settlement between the SEC and Citigroup. The SEC claimed Citigroup knowingly misrepresented the value of mortgage backed securities in the run-up to the 2008 financial meltdown. In the settlement Citigroup would have been forced to pay a fine but would not have been required to admit to any wrongdoing. The ruling raises the stakes for both parties, and for many others who continue to wonder why so few of the players alleged to have had a hand in the 2008 near collapse of the U.S. financial system have paid a price: Ongoing efforts to hold Wall Street accountable.
director, Center for Health and Homeland Security at the University of Maryland; former senior regulator, Commodities Futures Trading Commission.
Arthur F. Burns fellow in financial policy studies at the American Enterprise Institute; served as general counsel of the U.S. Treasury department in the Reagan Administration
Pulitzer Prize-winning business reporter and columnist for The New York Times; co-author of the book, “Reckless Endangerment”
former chair, SEC
Kalorama Partners, LLC