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IPFS News Link • Justice and Judges

'No Charges' Against Goldman Sachs, say Feds

•, Common Dreams staff
 In a case that exemplifies the degree to which Wall Street's largest financial firms have been shielded from meaningful prosecution for their role in the financial crisis of 2008, the Justice Department late on Thursday announced that no charges would be brought against Goldman Sachs for its role in fueling the sub-prime mortgage debacle.
The Security and Exchange Commission (SEC) also concluded its investigation to the firm without bringing charges.

Goldman Sachs -- which Rolling Stone's Matt Taibbi once famously described as 'a giant vampire squid wrapped around the face of humanity' -- will not face prosecution for selling bundled 'mortgage-backed securities' to clients while simultaneously describing them as "crap" in internal communications.


1 Comments in Response to

Comment by Temper Bay
Entered on:

 Laws apply only to those without 'Juice'.