“The data we have are accurate reflections of the financial conditions of those banks,” says Fed head Ben Bernanke regarding the stress test results… Hmmm…

There are a lot of unanswered questions for Tim Geithner and his pals in the banking industry. One Wall Street suit who’s dirtied his bib is Bank of America CEO Ken Lewis. Lewis should go to jail for securities fraud, according to Porter Stansberry of Stansberry and Associates Investment Research.

On Monday, the SEC filed suit against Mark Cuban for insider trading. The suit alleges that in 2004 Cuban used non-public information to sell shares in Mamma.com, then a fledgling internet search engine.  The action allowed Cuban to avoid a $750,000 loss on the shares.

You don’t have to be a rabid libertarian or Marxist historian with leather patches on his jacket to look at the current world banking crisis and ask “Cui bono…?“

Subprime related lawsuits have started to flood in, reports Portfolio.com.

Lawyers have filed over 70 securities-fraud class actions in the first quarter, three times the amount filed in the first half of 2007.

According to the report: “The targets aren’t only obvious ones like mortgage lenders and credit-rating agencies, either. They now include securities underwriters and mutual funds.”