Merrill Lynch, Pierce, Fenner & Smith Inc. v. Schwarzwaelder

OPINION

VANASKIE, Circuit Judge.

The question presented in this appeal is whether an arbitration award is so untethered from the facts and underlying agreements as to be “irrational.” The arbitration award requires Cheryl Schwarz-waelder to repay a loan given to her by her former employer, Merrill Lynch, Pierce, Fenner & Smith Inc., when she first joined the company. Schwarzwaelder argues that she is entitled to other compensation from Merrill Lynch in an amount that would offset her loan repayment obligation. The arbitrators decided that Schwarzwaelder had released her claim to this other…