Ted Kaufman: “If in July 2011 we're still trying to get the first person in jail... then 2014 is not an option.”

I do not want a single innocent person to go to jail or be criminally indicted for any reason.

Widespread cheating and fraud of the sort that drove the speculative housing and derivatives securities bubbles are anathema to public confidence in the markets.

In the words of Ben Bernanke, America was on a course for 'a cataclysm that could have rivaled or surpassed the Great Depression.'

Nothing in life that is worthwhile is easy.