Will the SEC appeal Judge Jed Rakoff's decision not to accept its $33 million settlement with Bank of America? Will it go to trial and risk more humiliation and the possibility of a "powerful regulators made us do it" defense? Will they drop the case altogether?

It would appear to be lose-lose-lose. Bloomberg notes the agency has left itself in a big jam. It's reputation is on the line. Perhaps the best bet would be to re-do the settlement agreement. It might be able to persuade the bank to accept more onerous terms and get a deal that pleases the judge. But you get the idea that Judge Rakoff wants more than money. He wants names named. He wants personal accountability, and you can't blame him for that. Perhaps an appeal is coming. 

For more:
- here's the article

Related Articles:
Judge rejects Bank of America settlement again
SEC, Bank of America drama continues
A wrinkle in the Bank of America settlement snafu