Yesterday was a good day in Federal Court for the "occupy" sympathizers.
Today's Wall Street Journal reports: "US District Court Judge Jed S. Rakoff rejected a $285 million deal by Citigroup Inc. to settle civil fraud charges filed by the Securities and Exchange Commission as 'neither fair, nor reasonable, nor adequate, nor in the public interest.'
The deal was agreed to earlier this year, after the SEC accused the New York company of selling investors slices of a $1 billion mortgage-bond deal called Class V Funding III, without disclosing it was betting against $500 million of those assets."
I don't think it too far a leap to believe that this behavior by Citigroup is a root cause for the existence of the "Occupy" movement. Citi knowingly sold dogcrap securities to the public and got caught. The whole article is found here: http://online.wsj.com/article/SB1000142405297020393560457706624244863556...
Keep up your great work "Occupy Wilmington"!
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