When: August 3, 2009

Why: Less than one hour after the SEC announced it was charging the bank for misleading investors about the $5.8 billion in bonuses it agreed to pay Merrill Lynch employees, Bank of America settled the charges. The windfall for the SEC? A paltry $33 million. That's about one half of one percent of the money involved, hardly a deterrent for the extravagant paydays the government is trying end. And, as is customary in these settlements, Bank of America chief Ken Lewis didn't have to admit he did anything wrong.

Next: Who: Bernie Madoff >

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