Justice Department Drops Goldman Criminal Probe

The Justice Department has announced that it will not bring criminal charges against Goldman Sachs or any of its employees.

The Wall Street firm lost $1.2 billion in the mortgage meltdown of 2007 and 2008, and it settled a $550 million civil claim in 2010, without admitting wrongdoing.

The department released a written statement saying that it has concluded its extensive investigation:

"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."

Goldman employee Fabrice Tourre still faces a civil complaint from the SEC. He has denied any wrongdoing and was the only person accused.