Levin, Coburn, and Obama's Justice Department Absolve Goldman Sachs For Their Role In Financial Terrorism

The Justice Department has decided it will not prosecute Goldman Sachs or its employees for their role in the financial crisis, following an investigation by senators Carl Levin (D-MI) and Tom Coburn (R-OK). The congressional investigation found problems with the credit rating agencies and poor oversight from regulators, and highlighted abuses by Goldman Sachs and other large investment banks. Senator Levin sent a formal referral to the Justice Department for a criminal investigation in April 2011.

The investigative report by the Senate's Permanent Subcommittee on Investigations, chaired by Levin, found that Goldman Sachs "used net short positions to benefit from the downturn in the mortgage market, and designed, marketed, and sold CDOs in ways that created conflicts of interest with the firm's clients and at times led to the bank's profiting from the same products that caused substantial losses for its clients."

A statement from the Justice Department issued late on Thursday evening noted, "Based on the law and evidence as they exist at this time, there is not a viable basis to bring a criminal prosecution with respect to Goldman Sachs or its employees in regard to the allegations set forth in the report."

"The department and its investigative partners conducted an exhaustive review of the report and its exhibits, independently gathered and scrutinized a large volume of other documents, and tenaciously pursued potential evidentiary leads, including conducting numerous witness interviews," the Justice Department's statement continued. "While the department and investigative agencies ultimately concluded that the burden of proof to bring a criminal case could not be met based on the law and facts as they exist at this time, we commend the hard work of those involved in preparing the report and thank the Senate's Permanent Subcommittee on Investigations for its cooperation in regard to the criminal investigation."

"We are pleased that this m

http://news.yahoo.com/doj-not-prosecute-goldman-sachs-financial-cri...

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Comment by chris macleod on August 13, 2012 at 5:05pm

Criminals don't incriminate criminals when you're thick as thieves .

Comment by MAC on August 10, 2012 at 9:53am

Levin would have been a great Nazi Collaborator, Oh Waite!

Comment by Charles Magus on August 10, 2012 at 8:00am

Yet another White-wash!!    Goldman Sachs should be liquidated!  All assets taken and distributed to those who have lost their homes!  The Employees should have all their ill-gotten assets taken off them and then sent straight to jail, ranging in years from 3 years minium to 100 years for the ones at the top!

Comment by raymond _______ on August 10, 2012 at 5:32am
Some joke.
Comment by truth on August 10, 2012 at 5:30am

The department and its investigative partners conducted an exhaustive review

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