Looks like the comeback is already in the making. After the government effectively let him off the hook instead of forcing a third trial, Frank Quattrone is free to enter the financial services industry again. The rumor is that Quattrone will likely form a new venture with former employees George Boutros and Bill Brady with interviews for a host of other positions allegedly underway. The smart money says Quattrone is aiming to put together a private equity-type firm, along the lines of the Blackstone Group. You can bet it will be a powerhouse right off the bat. One question: What will the firm's name be?

For more speculation on Quattrone's plans:
- Here's a Fortune article