  We present a general picture of the ongoing formation and evolution of
early-type galaxies via a specific evolutionary sequence starting in the blue
cloud and ending in the low-mass end of the red sequence. This evolutionary
sequence includes a Seyfert AGN phase in the green valley, but this phase
occurs too late after the shutdown of star formation to be responsible for it.
Thus, the bulk of black hole accretion in low-redshift early-type galaxies
occurs in post-starburst objects, and not concurrent with star formation. On
the other hand, a low-luminosity AGN phase switching on at an earlier stage
when some star formation activity remains may be responsible for destroying the
molecular gas reservoir fueling star formation.
