Relevant:
- Financial Journalists Question Nouriel Roubini's Prediction of the Financial Crisis
- Financial Crisis Scapegoat Identified: Seven And A Half Things To Know
- Wall Street banks negotiating deal over finance disaster
- New Documents Show Hedge Fund Magnetar Influenced Deal, Despite Denials
- The Feds finger Goldman director
2013-08-11 — huffingtonpost.com
``The Wall Street Journal reports that the SEC has decided to take no action against the hedge fund Magnetar Capital, which allegedly helped build toxic securities that Merrill Lynch sold to unsuspecting investors before the financial crisis. What's more, the SEC is "quietly winding down some of [its] highest-profile investigations related to the crisis," the WSJ writes, citing "people familiar with the situation." The article is consistent with earlier reports that the SEC had few crisis-era cases left in the pipeline.
This likely means the SEC is unlikely to extract much more from Wall Street than the $2.73 billion in penalties and restitution it has already gotten in crisis cases, a figure that pales in comparison to the $14 trillion in damage the financial crisis is estimated to have caused. (Story continues below a graphic that will help put this into context.)''
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