The Banking and Strategy Initiative

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Rakoff hands out $315 mln to Missie’s Purse(PERS) | Banking insight

Ponzi circa 1920

Ponzi circa 1920 (Photo credit: Wikipedia)

Bank of America continued its run of good luck with Judge Rakoff letting it off in the case by Mississippi Public Employees Retirement System for $16 bln of MBS investments sold to them. Goldman Sachs had to sign a $9.8 mln settlement related to Arthur Nadel’s Ponzi back in February and earlier GS and JP Morgan settled for $550 mln and $153 mlnin 2010. Citi’s $285 mln settlement was however struck down by Judge Rakoff in November six months ago

 

 

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This entry was posted on May 10, 2012 by in Banking, US and tagged , , , , , , , , , , .

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