This is only a Preview!

You must Publish this diary to make this visible to the public,
or click 'Edit Diary' to make further changes first.

Posting a Diary Entry

Daily Kos welcomes blog articles from readers, known as diaries. The Intro section to a diary should be about three paragraphs long, and is required. The body section is optional, as is the poll, which can have 1 to 15 choices. Descriptive tags are also required to help others find your diary by subject; please don't use "cute" tags.

When you're ready, scroll down below the tags and click Save & Preview. You can edit your diary after it's published by clicking Edit Diary. Polls cannot be edited once they are published.

If this is your first time creating a Diary since the Ajax upgrade, before you enter any text below, please press Ctrl-F5 and then hold down the Shift Key and press your browser's Reload button to refresh its cache with the new script files.


  1. One diary daily maximum.
  2. Substantive diaries only. If you don't have at least three solid, original paragraphs, you should probably post a comment in an Open Thread.
  3. No repetitive diaries. Take a moment to ensure your topic hasn't been blogged (you can search for Stories and Diaries that already cover this topic), though fresh original analysis is always welcome.
  4. Use the "Body" textbox if your diary entry is longer than three paragraphs.
  5. Any images in your posts must be hosted by an approved image hosting service (one of: imageshack.us, photobucket.com, flickr.com, smugmug.com, allyoucanupload.com, picturetrail.com, mac.com, webshots.com, editgrid.com).
  6. Copying and pasting entire copyrighted works is prohibited. If you do quote something, keep it brief, always provide a link to the original source, and use the <blockquote> tags to clearly identify the quoted material. Violating this rule is grounds for immediate banning.
  7. Be civil. Do not "call out" other users by name in diary titles. Do not use profanity in diary titles. Don't write diaries whose main purpose is to deliberately inflame.
For the complete list of DailyKos diary guidelines, please click here.

Please begin with an informative title:

From the New York Times, this breaking news for Friday afternoon:

SAC Fund to Pay $614 Million to Settle Insider Trading Case

Two affiliates of SAC Capital, the giant hedge fund, settled insider trading charges with the Securities and Exchange Commission for $614 million, in what the agency said was the biggest ever settlement for such cases.


You must enter an Intro for your Diary Entry between 300 and 1150 characters long (that's approximately 50-175 words without any html or formatting markup).

$600 million here, $600 million there, will eventually amount to real money, even in the halls of Congress.

Is is possible we're seeing a new stage in the era of Too Big to Nail, Fail or Jail?

Just this morning, Sen. Levin (D-MI) opened a Senate hearing on JP Morgan Chase's $6+ billion - billion - trading loss last year, the one where the "London Whale" made ever increasing trades with more and more leverage, until the whole unit was in jeopardy.

Senator Levin is Chairman of the Senate Permanent Subcommittee on Investigations. It has jurisdiction to investigate a range of issues, including federal waste, fraud and abuse, corporate crime, offshore banking and tax practices, energy markets, corruption and national security. Senator Levin has the bit in his teeth once again.

The Senate investigators have released a report suggesting that the nation's biggest bank - the behemoth that law allows it to call itself a bank - at the highest levels of the bank, ignored internal controls, manipulated risk assessments and may have withheld information from regulators.

With Senator Warren (D-MA) on the Banking Committee and Mary Jo White's pending nomination to head the SEC, we may be on the edge of a turnaround of tectonic proportions, if for no other reason than that the limelight makes Congressional obeisance to banking interests even more apparent.

Not to mention that there may be big bucks in the recoveries and fines assessed. And then there's the proposal for a Financial Transactions tax.

Extended (Optional)

Your Email has been sent.