The attached Memorandum opinion is a judicial wrench thrown into the spinning gears of the corporate/government spin machine.

http://www.scribd.com/doc/19115290/Rakoff-Order-to-SEC-and-BofA

Your Securities and Exchange Commission tried to enter into a settlement whereby Bank of America admitted that it lied to its shareholders (charmingly BoA states that shareholders should have relied instead on media rumor instead of BoA statements). In exchange, BoA was going to scalp the shareholders an additional 30 million to pay off the S.E.C.

For those of you who disdain all lawyers and blame the legal system for all the woes of the world, be aware that there are some out here working at ideals. This is how revolutions start, with a few people making principled decisions that are not in their own best interest. God help this Judge and his cause, because so many powerful people want this to fall down the memory hole.

Good luck, brave Judge.

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