Rakoff Takedown Reignites Debate Over Settlement Authority

By Max Stendahl (March 15, 2012, 8:23 PM EDT) -- When the Second Circuit sharply criticized a federal judge Thursday for rejecting the U.S. Securities and Exchange Commission's $285 million securities fraud settlement with Citigroup Inc., it betrayed a long-standing power struggle between the regulators who cut deals and the courts who scrutinize them, attorneys said....

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