By REED ALBERGOTTI
After a year-long investigation, the Justice Department said Thursday that it will not bring charges against Goldman Sachs Group Inc. or any of its employees for financial fraud related to the mortgage crisis.
In a statement released Thursday, the Justice Department said “the burden of proof” couldn’t be met to prosecute Goldman criminally based on claims made in an extensive report prepared by a U.S. Senate panel that investigated the financial crisis.
via U.S. Won’t Pursue Goldman Charges – WSJ.com.
Question is: Should GS be allowed to get away with it? Can they be broken up? Are their other measures that could serve as a deterrent in the future?
Didn’t Goldman Sachs take commissions on sup-prime mortgage backed securities during the housing bull market and then make billions by effectively shorting the same products during the housing bear market? Sounds like insider trading to me. Maybe I’ve got all wrong.