Jed Rakoff, 'Maverick' Judge, Putting Wall Street In Its Place

Jed Rakoff, 'Maverick' Judge, Putting Wall Street In Its Place

The economic crisis has brought out the populist in many politicians and others. Among the more unlikely ones may be a silver-bearded federal judge who has wasted no chance to tell the country's biggest banks what he thinks about how they operate.

When Bank of America Corp. was trying to settle civil charges over its conduct in its purchase of Merrill Lynch, U.S. District Judge Jed Rakoff wrote that the bank's executives had led what "could have been a bank-destroying disaster if the U.S. taxpayers had not saved the day."

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