Monday, February 22, 2010

Judge approves BoA deal but calls it "Half baked justice"

Which is judge talk for bullshit.
Rakoff said Monday in his written order approving the revised settlement that it was "considerably improved" but "far from ideal."

He said the new deal's greatest defect "is that it advocates very modest punitive, compensatory and remedial measures that are neither directed at the specific individuals responsible for the nondisclosures nor appear likely to have more than a very modest impact on corporate practices or victim compensation."

He added: "While better than nothing, this is half-baked justice at best."
No orange jumpsuits, no perp walks and no reason for BoA not to do it again.

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