Wall Street Roundup: The new Spitzer? The real Rajat Gupta.

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Gold: Trading now at $1,480 per ounce, down 0.7 % from Monday. Dow Jones industrial average: Trading now at 12,473.60, down 0.6% from Monday.

The new Spitzer? New York’s new attorney general, Eric Schneiderman, is investigating the mortgage securitizing operations at three of Wall Street’s biggest names, adding to the scrutiny coming from other probes.

The Strauss-Kahn Saga. Mohamed El-Erian, the Pimco bigwig, explains why the arrest of Dominique Strauss-Kahn could be very consequential for the global economy; but could it be a moment of rebirth for the International Monetary Fund?

Nasdaq looks abroad. While regulators rejected Nasdaq’s bid to take over the New York Stock Exchange, some think it could lead Nasdaq to find even better deals.

The real Rajat Gupta. Bloomberg Markets tells the long story of former McKinsey head Rajat Gupta, who got caught in the Raj Rajaratnam sting, and who, it is revealed, ran a consulting firm behind McKinsey’s back.

[For the Record, 10:20 a.m. May 17: An earlier version of this post misspelled Dominique Strauss-Kahn’s last name as Straus-Kahn.]

-- Nathaniel Popper