Posted 6 years ago on Dec. 31, 2011, 12:33 p.m. EST by 5678
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The take-away from the case is that the public views Judge Rakoff as representing justice, transparency, accountability, and the public interest. And the SEC is fixated on technical legal wrangling that puts it in the opposite camp, and makes it seem in collusion with Citigroup, the very party it is charged with regulating. As a consequence, Judge Rakoff is aligned with the Occupy movement and the 99%, and the SEC is aligned with the narrow interests of the recidivist too-big-to-fail banks to subvert justice and accountability: the SEC appears to be aligned with the 1%. This case could become a symbol for the Occupy movement.
See the NYT article: