The Securities and Exchange Commission has charged investment banking titan Goldman Sachs with civil fraud over a pre-packaged mortgage instrument they say was designed to fail.
This is a civil suit as opposed to a criminal prosecution. Granted, the civil standard for proving a case is lower than a criminal proceeding, "preponderance of fact" v "beyond a reasonable doubt", but it remains to be seen whether the SEC, which was almost a wholly owned subsidiary of Wall St. for years, has the horsepower (or the money) to beat the richest Wall St. player. I'm not holding my breath, but it's a start.
DoJ needs to get into the act. Many, many of the Wall. St. thieves need to go to prison.