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&lt;p&gt;&lt;font face=&quot;Arial&quot; size=&quot;2&quot;&gt;Yesterday, U.S. District Judge Jed Rakoff&amp;#8212;previously seen &lt;/font&gt;&lt;font face=&quot;Arial&quot; size=&quot;2&quot;&gt;refusing&lt;/font&gt;&lt;font face=&quot;Arial&quot; size=&quot;2&quot;&gt; to equate Marc Dreier with Bernie Madoff&amp;#8212;&lt;/font&gt;&lt;font face=&quot;Arial&quot; size=&quot;2&quot;&gt;rejected&lt;/font&gt;&lt;font face=&quot;Calibri&quot;&gt;&lt;font face=&quot;Arial&quot; size=&quot;2&quot;&gt; a $33 million settlement between the SEC and the Bank of America concerning the latter&amp;#8217;s non-disclosure of an agreement to pay billions of Merrill Lynch bonuses.&lt;span&gt;&amp;nbsp; &lt;/span&gt;The judge&amp;#8217;s opinion was scathing, characterizing the proposed settlement as a pretense aimed at providing the SEC with the &amp;#8220;facade of enforcement and the management of the bank with a quick resolution to an embarrassing inquiry.&quot; &lt;span&gt;&amp;nbsp;&lt;/span&gt;Moreover, &quot;The notion that Bank of America shareholders, having been lied to blatantly in connection with the multibillion-dollar purchase of a huge, nearly bankrupt company, need to lose another $33 million ... in order to &#39;better assess the quality and performance of management&#39; is absurd.&quot;&lt;/font&gt; &lt;/font&gt;&lt;/p&gt;&lt;p&gt;&lt;font face=&quot;Calibri&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font size=&quot;2&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; -posted by brian&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;

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