Cleaning Up Wall Street?

What charges can be brought against the biggest rogue traders out there?  The answer, apparently, is just about anything the SEC can get to stick.  After being humiliated in the US Senate and severely beaten to the punch by an aggressive NY District Attorney, they’re ready for action.  But they can be forgiven if the actual charge is a bit less than impressive – it comes with a lifetime ban on trading, if not a jail sentence.

It’s a start.  It comes about 5 years too late and may be a bit short of a landmark conviction, but it appears that a cadre of prosecutors and regulators are getting serious about doing their jobs.  Is it in time to save Wall Street?

Continue reading