Unprecedented Actions by Two District Judges

Sept. 26(Bloomberg) -- Two federal district judges tied for Judge of the Week on the video with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. District Judge Lynn N. Hughes in Houston took a case entirely away from the bankruptcy judge rather than hear an appeal, while District Judge Jed Rakoff wrote an opinion sitting on the appeals court in a case involving Bernard Madoff's fraud where in substance he told himself how to rule in another Madoff case he's hearing as a district judge. Former chairman of the Securities and Exchange Commission Richard C. Breeden, appointed to distribute $2.2 billion forfeited to the U.S. government, hinted he might give money to some victims of the Madoff Ponzi scheme who were denied claims by the trustee under the Securities Investor Protection Act.
Obama, Rubenstein, Gross on U.S. Jobs in Two Minutes
01:48 - U.S. President Barack Obama, Carlyle Group LP's David Rubenstein and Janus Capital Group Inc.'s Bill Gross comment on the U.S. jobs report for June and the outlook for Federal Reserve policy. BlackRock Inc.'s Rick Rieder, Princeton University's Alan Krueger, Moody's Analytics Inc.'s Mark Zandi, Mesirow Financial Holdings Inc.'s Diane Swonk and White House economic adviser Betsey Stevenson also speak. Watch all the key moments in two minutes. (Source: Bloomberg)
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