Subpoenas Issued

" There's big news tonight a case we have found here on the record not -- now. You -- BankAmerica 45 billion dollars for -- This winter Bank of America bought Merrill Lynch Merrill is going -- when it was bought. But its executives were given three point six billion dollars in bonuses. Here's -- at shady someone hid the fact of the three point six billion bonuses from the shareholders that's cryptic. The SEC found out about the hidden bonuses. Now what -- cozy agreement -- Bank of America with a bank was given only a simple fine and the real culprits they got the luck. And that's where a variable federal judge stepped and and stop this cozy civil deal -- It does not comport with the most elementary notions of justice and morality. And -- more tonight. The New York attorney general jumping and joining us live as Louise story Wall Street reporter for the New York -- and you want to -- but you are pounding on this story and I -- judge rake up out of debt. Had to see your story in the New York Times -- every day but. What what put an interest in turn of events yeah."

" Interesting but you know attach rate cut is someone who has often taken very old stances on things. And add people watched him for a while said that as soon as they -- that he was having a hearing on day. They knew that there was going to be something different here and that he was gonna take a stand but. I'm delighted that a federal judge did this -- lots -- did you serve rubber stamp what the government last season is if he's not rubber -- now that's not the way he does things is he demanding to find out by throwing this this civil the civil penalty opportunity SE CA BankAmerica is he demanding to find out. Who is responsible he's looking for accountability he's looking to know who made the decision. Not to disclose the bonuses in fact he's asked to think of American SEC -- that the mini filings in the past month. And they haven't and he criticized BankAmerica and his firing this week for not answering this question so. Why did they say they're not finance from didn't get her reason now is that what I did there can never -- go to court the government that they may have to -- her reason."

" And the -- pollen has said Natalie -- of the taxpayer bailout. But then me in the bonuses -- paid by the shareholders they didn't know what because it was hidden from. Then this 33 million dollar -- that thought they'd get away with again the shareholders are pain for. -- in the legal fees on top let."

" That's what -- the judge she's really criticized he said. You know the victims of this would be a shareholders and he says so it doesn't make sense for the shareholders to pay the fine to settle the case. And heat very flagrantly roads that this looks like management trying to escape their ally. But having shareholders pay the fine to get them out of it so this very critical of that and it kind of you know good that raised questions about the way the SEC does a lot of."

" I'm suspicious of the law firms that are represented at the time of this murder who are present BankAmerica Wachtel Lipton but a new York and who represented Merrill Lynch at the time chairman -- And neither neither side at least as far as we know -- set of lawyers say he can't hide this in the shareholders these bonuses. We don't know what they said Sarah stepping forward and say I told him -- now they're not that I think they want attention on the spot. Why even the lawyers we have that they may end up having to tell because it's a judge seems to be -- a -- he wants the troops he wants a trip."

" And he as well as the attorney down New York have raised questions about why the lawyers are not answering questions. I'm they want answers from Bank of America's internal lawyers as well as an external lawyers well -- great -- I love your stories and welcome Washington think you."