Justice Department will not prosecute Goldman Sachs, employees for Abacus deal

I'm sure no one will be surprised to here this.

Neither Goldman Sachs Group Inc nor its employees will face U.S. criminal charges related to trades they made during the financial crisis that were highlighted in a 2011 U.S. Senate report, the Justice Department said on Thursday.

Reuters

So once again political contributions and well placed former employees will pay off for the big banks. Business will continue as usual.

Few expected the bank to face criminal charges, but in April 2011, U.S. Senator Carl Levin asked for a criminal investigation after the subcommittee he leads spent years looking into Goldman. Levin's subcommittee held televised hearings as part of its inquiry, which centered on a subprime mortgage product known as Abacus. He said Goldman misled Congress and investors.

I think enough people predicted the market collapse that the argument "No one saw it coming" is not valid. I'm pretty sure they knew it was coming, and they positioned themselves to benefit. I.E the bank bailouts.

I think this is fitting

reply to post by watchitburn


Those 3 threads came so close together I thought someone accidentally triple posted


Yours has Metallica so it gets an extra point.

Yeah I'm not surprised. I always hope for justice but am not let down when it doesn't happen since it's not really expected.

And people think Romney is the evil banker.
Maybe somebody should tell Holder what the scorecard is beginning to read.

reply to post by scorpiosin


Yeah, I thought I had my 1st double post. It was crazy.

One of the other threads has that overlapping circle graphy (I just invented that word, you're welcome) thing I was looking for. It's become so corrupt and twisted in D.C. that I don't think it will ever get fixed.

And you can never go wrong with classic Metallica.

reply to post by Nite_wing


I have no doubt, that Romney's administration will be just as corrupt as Obama's is.

Rest assured we will see no justice either way.