Recently, the SEC settled with Bank of America over charges that the company mislead its investors about the $3.6 billion in bonuses paid by Merrill as the brokerage was being taken over. U.S. District Judge Jed Rakoff, however, isn’t buying it. He’s refusing to approve the settlement until it can be shown that the $33 million Bank of America agreed to pay is adequate. That’s nice, but he best part is that the judge is being hilariously sarcastic during the hearings.
