Six executives have been cited in a civil action by the SEC for understating risk in subprime mortgages. Once again, the SEC serves as pimp to the White House and the DOJ. Civil cases? More settlements "Without admitting or denying guilt?" Another Mozzilo-type "enforcement action? This SEC, this President, have done everything in their power to appear to have brought justice to the mortgage fraud scandal. In fact, they have failed miserably. 95% of criminal acts are now barred by the statute of limitations. Over 3 years of not prosecuting, and then, last week, the President said,"Wall Street did nothing illegal." Now the SEC hands up civil charges against the latest batch of scapegoats, and ignores the origination and securitization frauds which really caused the problems. Whether Fannie and Freddie misled the markets is one thing. Certainly there should be accountability for that. But the root causes, the worst players, the biggest origination and securitization crooks, have been, and will continue to be, let go. And, worst of all, there really has been no reform of the industry.