As Larry Ribstein reports, the Enron prosecutorial veterans are already picking up the usual suspects in regard to the Bear Stearns meltdown.

Meanwhile, John Carney wonders whether any investors really feel safer as a result of these criminal probes?

And although Bear struck out, do we really want to deter potentially beneficial risk-taking by criminalizing it when it fails?

Finally, wouldn’t it make more sense to allocate the resources spent on criminalizing such risk-taking toward educating investors in trust-based businesses on how to hedge their risk of loss?