CLOSING IN ON THE BANKSTERS

The Securities and Exchange Commission is considering taking action "against Standard & Poor's for securities law violations after the ratings agency gave top grades to a package of securitized mortgages in 2007 that quickly soured."

And civil suits are still being filed:

Deloitte sued for $7.6 billion, accused of missing fraud
By Kevin Gray | Reuters – 2 hrs 17 mins ago

(Reuters) Deloitte Touche Tohmatsu Ltd , the world's largest accounting and consulting firm, was accused on Monday of failing to detect fraud during its audits of one of the biggest private mortgage firms to collapse during the U.S. housing crash.

A trust overseeing the bankruptcy of Taylor, Bean & Whitaker Mortgage Corp, or TBW, and one of the company's subsidiaries filed complaints in a Miami Circuit Court claiming a combined $7.6 billion in losses.

Deloitte "certified TBW as a solvent, viable company with accurate financial statements every year from 2001 to 2008," one of the complaints said.

"Despite Deloitte's credentials and expertise as one of the 'Big 4' accounting firms, those statements -- and the rosy picture they depicted of TBW -- were completely false," it said.