Thursday, February 14, 2008
It may be a while before we see major enforcement or criminal actions stemming from the subprime mortgage collapse and credit crunch. The FBI has 16 criminal investigations, the SEC has another two dozen, all in early stages, and the SEC has 100 lawyers in its nationwide subprime mortgage working group. These investigations are slow-going because of the complexity of the issues and the piles of paperwork that need to be sifted through. Investigators may still be looking for the case that will be straightforward enough to play to a jury. WPost, A Labyrinthine Path to Justice.