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.
- Reed Albergotti, Wall Street Journal
This segment aired on August 10, 2012.