When will the BOA Scams end????? see paragraph -2

Judge Jed Rakoff isn't going to let Bank of America (BAC Quote) off the hook so easily.
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UPHe's not going to rubber stamp the $33 million settlement agreement between the bank and the SEC that would have swept all the charges of misleading investors under the carpet.
Bank of America and the SEC are going to have to explain themselves -- and that's a good thing.
Judge Jed wants the truth to come to light about whether Bank of America told investors one thing and then did another.
The big question that the settlement would leave unanswered is whether BofA had already pre-approved $5.8 billion in bonuses for Merrill Lynch executives when it told investors in writing that no bonuses would be paid without its consent.
That would be pretty disingenuous. Why pretend like the issue is under review when in fact it is a fait accompli?
Investors have a right to know if they were duped by BofA management or not. It will inform their decisions about whether to trust those executives going forward.
But the settlement would let everyone off the hook because it doesn't require the bank to admit or deny the charges. The case would just go away.
That's not good enough for Judge Jed. And what's more, he wants to know how the SEC and BofA came up with the $33 million value and whether taxpayer bailout funds are caught up in all this.
It's good to see the checks and balances in our system working, and it's refreshing to see an advocate for the shareholders taking a stand.