So the SEC can get (1) money and (2) reasonable assurance that Citi will try really hard not to do more terrible things without any court approval. In fact, the SEC did exactly that with Credit Suisse in this case…. So why didn’t they do that with Citi? Why didn’t the SEC and Citi just agree on what the deal was and announce it in a press release, rather than agree on what the deal was and announce it in a press release and submit it to a judge who just hates, hates, hates the SEC and who they had to know would call them out for being generally all-around shoddy re: this whole Citi thing?
Read more: Surely The SEC Is Sick Of Going To Court By Now? — Dealbreaker
