Hi Coach.
The SEC charged CountryWide Ceo Angelo Mozilo with both fraud and insider trading back in June 09. The case is ongoing, as is a federal criminal investigation which is now in the grand jury stage. AIG Ceo Hank Greenberg skated with a $15MM settlement against SEC charges that he intentionally mismanaged AIG accounting transactions.
For what it's worth, and to underscore gildage' speculation on an internal "power struggle", I listened to a recent James Traficant interview wherein he claimed he is receiving correspondence from a growing faction of DOJ personnel that are fed-up with the BS.
If the GS & JPM investigations are simply political window dressing, it seems to me they would have been launched/publicized much closer to the elections instead of 7 months out. In my opinion, if there is no movement on these investigations by November, they will be of little help to the current administration when mid-term ballots are cast.
Short-term bullish these investigations, but longer term very cautiously optimistic .
Joaquin
