Ichan pretty much agrees that it was a crime against humanity, but he doesn't see why that should keep him from having fun. And not incidentally, he's willing to suggest that the whole mess owed as much to the arrogance and presumption of hubba hubba New York lawyers as it did to the wiles of the evil Plaintiff's attorney, Joe Jamail.
At the end, Ichan thinks they are laughing at his story, but in fact I think they are just laughing at how badly he does the Jamail accent (caution dirty words, or word):
Source: (link) and H/T: TigerHawk.
Afterthought: Ichan mocks Jamail's plans for the money. In fact, Jamail has given away a lot of money--and has endowed a professorship at the UT Law School. Wonder if Ichan would regard this as a preferred use.