Justice Department Drops Goldman Criminal Probe

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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.


This segment aired on August 10, 2012.


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