CAROL COSTELLO, CNN ANCHOR: Now it's time for some business buzz. The settlement that's meant to restore trust in Wall Street is signed and sealed, but is everyone really happy about it? Let's go to Susan Lisovicz in New York. And I would suspect the answer to that question is no.</s>SUSAN LISOVICZ, CNN FINANCIAL NEWS CORRESPONDENT: And you would be correct, Carol. The ink is barely dry on that landmark $1.4 billion settlement announced yesterday, and already the questions and criticism have begun. The Consumer Federation of America, for one, is warning investors not to rush to bestow renewed trust in Wall Street firms. The president of the group says it will take time to figure out whether the new requirements imposed on Wall Street's top 10 firms will be effective. One of those requirements is funding independent research. But some market watchers are already questioning the integrity of that research. They say that so many new independent research firms will pop up, they won't have track records, and once again the individual investor may be compromised. Also, the deal calls for creating a fund for investor claims; but if millions of investors file claims through arbitration, the odds of getting a substantial amount are marginal. But once again, investors may also be interested in shareholder losses. I talked to one attorney yesterday who specializes in securities law yesterday, Carol, and he said with the wording of fraud for 3 of those 10 firms, that the interest in shareholder lawsuits, class action suits should be much greater.</s>COSTELLO: I would say so. You know it always seems the little guy loses out on these things, doesn't it?</s>LISOVICZ: There were millions of them in this case.</s>COSTELLO: Yes. Susan Lisovicz, many thanks. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Restoring Faith in Wall Street