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The only financial crisis case to go to trial, involving officers of BankAtlantic, had its jury verdict finding civil liability overturned by the judge.
DealBook » Bank Is Victim in Financial Crisis Case, Not Homeowners | The larger issue of harm to homeowners from foreclosures triggered by the collapse of the housing market has not yet been addressed in any criminal prosecutions, according to White Collar Watch.
Any financial crisis case that named a regulator probably would turn into a huge political battle, because it would question many of the nontransparent acts that bank regulators take while trying to save banks, said Denise Voigt Crawford, former commissioner of the Texas securities board and now a law professor at Texas Tech University.
"There is no denying the importance of this to the S.E.C. because it is a financial crisis case," said Stephen J. Crimmins, a partner at the law firm K&L Gates and former deputy chief litigation counsel in the S.E.C. enforcement division, who was not involved in this case.
The deal is one of the larger amounts recovered in a financial crisis case, though only about $400,000 in total will be paid by the executives, according to a person briefed on the settlement but not authorized to discuss it.
NEW YORK TIMES Financial Crisis Case May Have its Day in Court | A lawsuit against the insurer MBIA, which won regulatory approval in 2009 to split off the riskiest aspects of its business into a separate unit, may go to trial in May, which would make it the first major civil case from the crisis to do so, writes Floyd Norris in The New York Times.
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The S.E.C. is clearly proud of its financial crisis cases.
Financial crisis cases can be brought by many parties.
Between 2007 and 2008 there were about 120 credit crisis cases filed.
There are, as a result, a significant number of credit crisis cases still in the pipeline.
In the majority of mid-life crisis cases - 93% - the partner having the crisis was the man.
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