The whole affair is now in the hands of the regulators and the courts.
The regulators tout them as the largest fines ever levied against a foreign-based audit firm.
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But for the affected industries and the regulators who oversee them, the transition is traumatic.
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The regulators prevented retail investors from participating, despite the risks being disclosed in a thousand-page prospectus.
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The regulators behind the Basel rules have tended to think a leverage ratio is too unsophisticated.
It is not surprising, therefore, that the regulators they appointed did not vigorously exercise control.
The regulators say the slot networks are as secure as a typical online banking service.
The first step is to register the regulators, and that's taking a long time.
The regulators are under pressure from Congress and investors to do something and restore confidence.
The regulators may not want to, but, if public sentiment compels it, they will.
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Now when they testify the regulators will undoubtedly point the finger at Goldman, the scapegoat.
This breach was not made public, although the regulators were fully aware of it.
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They were demanding regulatory changes, and Congress and the regulators were going through the motions.
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TrueCar says it will shortly make changes to its website to satisfy the regulators' concerns.
The outcome, however, is less clean and much less satisfactory than the regulators seem to think.
For the regulators it means developing a dialogue with their counterparts in different countries.
But that still leaves all the trial data which is never submitted to the regulators.
Especially in small community banks where the regulators have them afraid of their own shadows.
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The regulators' investigations into Barclays revealed that its traders had worked with staff at other banks.
Orders are anonymously matched and not reported to any entity, even the regulators (Younglai and Spicer 2009).
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Murdoch needs to particularly worry about the grounds on which the regulators would debar the BSkyB deal.
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Despite the fire sales, the regulators found that Europe's biggest banks still faced a substantial capital shortfall.
The regulators are usually preoccupied with keeping banks sound and warning them not to lend too loosely.
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For dominant domestic banks the big obstacle to growth is the need to keep the regulators happy.
Would it be possible keep the reports secret if the regulators had contracted for the reviews directly?
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The solution, the regulators believe, is to press bravely ahead and impose fair-value rules for all financial instruments.
In other words, as Mr Hunt will say, he did not breach what the regulators wanted to achieve.
But the regulators' focus is on their national interests, not those of the world, or of the banks.
We can do this, and with the specific goal of not overburdening either the regulated or the regulators.
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However, the Senate hearing did not clarify why the regulators remained passive under the negative conditions mentioned above.
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