Bank Of Hardball

Bank of America wants to play hardball with the Feds?

Okay, you go ahead and do that (Via John Cole.)

The Securities and Exchange Commission said Monday that it will broaden its investigation into alleged wrongdoing at Bank of America and may seek additional charges as it prepares for a trial against the bank.

The move was the latest effort by the agency to combat the impression that it took a soft approach in a high-profile investigation stemming from Bank of America’s acquisition last year of Merrill Lynch. The SEC suffered a serious setback last week when a federal judge ordered a trial after rejecting a $33 million settlement in the case.

“[W]e will vigorously pursue our charges against Bank of America and take steps to prove our case in court,” the SEC said in a statement. “We will use the additional discovery available in the litigation to further pursue the facts and determine whether to seek the court’s permission to bring additional charges in this case.”

Making an example of the biggest bank in the country would be a good thing.