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Finally - some people are being brought to account for all the funny numbers that lead to the GFC and the pain that's caused so many around the world. Here's Barry Ritholtz on the charges brought by the SEC against execs at Fannie and Freddie:

'Hey, lookie here, someone finally got indicted charged with civil fraud

'Phoney & Fraudie had a long history of fraud, bad execs, fake accounting.

'Next up: AIG. They are the no brainer, with zero reserves against $3 trillion in potential liability.

'There are cases to be made against Countrywide, Citigroup, Bank of America, Lehman Brothers, Bear Stearns, etc., but you take the low hanging fruit first.'

The best deterrence for baddies is the threat of being caught - not the size of the punishment.

So now - maybe some of the dodgier characters in the too-big-to-fail companies might clean up their acts.

What's it mean for the stock market? Probably nothing in the short term. But - in the very long term it makes investing just a little safer for the mums and dads.

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