That’s right folks – He is indeed smiling…

Nevertheless, one critical point to keep in mind here . . . Neither this nor the quasi-escape of Harbinger’s Falcone suggests that hedge funds or other alternative investment entities have removed themselves from the government’s cross-hairs. If anything, these sorts of results may well INCREASE pressure on politicians and regulators to flex their muscles. Stay tuned….

“Citing unidentified sources familiar with the government’s investigation into the $15 billion hedge fund and its founder, the Wall Street Journal said this month’s deadline, tied to a five-year statute of limitations on filing criminal charges, would likely pass without any action.”

[“SAC’s Cohen seen avoiding criminal charges by July deadline,” Reuters, 7/4/2013]