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The Two-Way
12:28 pm
Mon November 28, 2011

Judge Blocks Citigroup, SEC Settlement

A man walks by a Citibank branch at the U.S. bank Citigroup world headquarters on Park Avenue, in New York in 2008.
Emmanuel Dunand AFP/Getty Images

A United States District Court judge in Manhattan has thrown a wrench into the way the Security and Exchange Commission has been enforcing its fraud cases.

Judge Jed S. Rakoff threw out a $285 million settlement deal between the S.E.C. and Citigroup in which the bank would not admit nor deny wrongdoing in a mortgage derivatives deal.

Rakoff said he would not OK the settlement because he did not know the facts of the case and it was "neither fair, nor reasonable, nor adequate, nor in the public interest" for him to do so.

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Economy
12:23 pm
Mon November 28, 2011

Black Friday Sales Suggest A Strong Cyber Monday

Workers process orders at an Amazon.com fulfillment center n Swansea, Wales, as they prepare for their busiest time of the year.
Matt Cardy Getty Images

Shoppers stormed retail stores this past weekend, and now on Cyber Monday, many are clicking their way to more purchases.

"I am definitely a price-based shopper," said Sarah Kelly, a 28-year-old Washington, D.C., resident who bought a KitchenAid mixer Monday morning as a holiday gift. She also bought shoes, clothes and other presents after waking early to search for online coupons and shipping offers. "I only purchase if the shipping is free," she said.

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Music Interviews
12:12 pm
Mon November 28, 2011

'Moves Like Jagger': The Making Of Maroon 5's Mega-Hit

Adam Levine (center) and the rest of Maroon 5.
Matt Beard

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The Two-Way
12:08 pm
Mon November 28, 2011

Report: Fed Committed $7.77 Trillion To Rescue Banks

Bloomberg ran quite a story, yesterday. It stems from a Freedom of Information Act Request that yielded the details of previously secret borrowing from the federal government to the biggest banks.

The bottom line, reports Bloomberg, by March of 2009, the Fed had committed $7.77 trillion "to rescuing the financial system, more than half the value of everything produced in the U.S. that year." The lending began in August of 2007.

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Law
12:00 pm
Mon November 28, 2011

What Happens To The Criminally Insane, After Court

This week, John Hinckley Jr. faces a hearing to determine whether or not he can be released from a mental health facility to care for his ailing mother. The case raises questions about the role of the insanity defense and what happens to the criminally insane after they leave the courtroom.

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