Instead of defending its rejected $285 million settlement with Citigroup, the SEC should take a page from the Enron playbook and consider pursuing individual officers.

By Eleanor Bloxham, CEO of The Value Alliance and Corporate Governance Alliance

FORTUNE — In the wake of Judge Jed Rakoff’s order rejecting the SEC and Citigroup’s proposed $285 million settlement of charges that it misled investors into purchasing subprime mortgage securities, the SEC has continued to defend itself, and several columnists and news outlets have joined the chorus.  Read more