jews won’t ever prosecute other jews, aka Goldman Sack Balls

U.S. Justice Department drops Goldman financial crisis probe

A Goldman Sachs sign is seen over their kiosk on the floor of the New York Stock Exchange, April 26, 2010. REUTERS/Brendan McDermid/Files

By David Ingram and Aruna Viswanatha

WASHINGTON (Reuters) – The U.S. Justice Department said it will not pursue criminal charges against Goldman Sachs Group Inc (NYS:GS – News) or its employees related to accusations that the firm bet against the same subprime mortgage securities it was selling to clients.

The decision not to prosecute Goldman, a firm held up by critics as a symbol of Wall Street greed during the 2007-2009 financial crisis, highlights the difficulty in prosecuting crisis-related cases.

Few expected the bank to face criminal charges, but in April 2011, U.S. Senator Carl Levin asked for a criminal investigation after the subcommittee he leads spent more than a year looking into Goldman.

The accusations were aired in a heated 2010 Congressional hearing in which Levin grilled Goldman Chief Executive Lloyd Blankfein for hours about whether it was morally correct for the firm to sell its clients products described internally as “crap”.

“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,” the Justice Department said in a statement late on Thursday.

The DOJ does not typically make public statements when it concludes an investigation.

Neil Barofsky, a former watchdog for the U.S. government’s financial system bailout in 2008, said the announcement was a stark reminder that no individual or institution had been held meaningfully accountable for their role in the financial crisis.

“Without such accountability, the unending parade of megabanks scandals will inevitably continue,” said Barofsky, who has been an outspoken critic of the government’s response to the financial crisis.

In a brief statement emailed to Reuters, a Goldman Sachs spokesman said: “We are pleased that this matter is behind us.”

A Levin aide had no immediate comment.

In a related civil case, Goldman settled with the U.S. Securities and Exchange Commission for $550 million in July 2010, without admitting wrongdoing.

The SEC, in one of its premier financial crisis cases, said Goldman failed to tell investors the Paulson & Co hedge fund helped choose and bet against the subprime mortgage-backed securities underlying an investment product named Abacus.

The SEC is still pursuing a civil complaint against Fabrice Tourre, a Goldman vice president involved in the Abacus deal.

Separately on Thursday, Goldman said the SEC had dropped an investigation into the firm’s role in selling a different $1.3 billion subprime mortgage-related deal arranged in 2006.

TARNISHED REPUTATION

The Abacus deal was a major focus of the televised hearings held by Levin’s subcommittee in 2010. The hearings and a following report from Levin’s Permanent Subcommittee on Investigations weighed on Goldman’s shares as the firm suffered a reputational hit from the unwelcome spotlight.

Goldman — dubbed a “great vampire squid” in a 2009 article in Rolling Stone magazine — has continued to be dogged by criticism, including from its own ranks.

A Goldman Sachs banker in March published a withering resignation letter in the New York Times, calling the Wall Street titan a “toxic” place.

In its release on Thursday, the Justice Department said there was “not a viable basis to bring a criminal prosecution” against Goldman. If new or additional evidence emerged, it could make a different determination, it said.

Prosecuting financial fraud would continue to be a top priority and it highlighted other investigations, including its probe into banks’ alleged manipulation of Libor, a widely used benchmark for interest rates.

The SEC has brought a handful of high-profile cases related to the financial crisis, including against former Countrywide Financial Chief Executive Angelo Mozilo and its case against Goldman. But the Justice Department has struggled to bring criminal charges.

The frustration, in part, has been because such charges involve securing evidence that shows beyond a reasonable doubt a defendant intended to break the law.

For example, a federal jury in 2009 acquitted two former Bear Stearns hedge fund managers accused of continuing to push souring investments as sound.

Jurors said prosecutors did not prove the case, which relied on e-mail evidence, beyond a reasonable doubt. Since then, the Justice Department has brought few major prosecutions tied to the subprime crisis.

In January, President Barack Obama announced a new task force to investigate misconduct that fueled the financial crisis, and the Justice Department has said it has issued more than a dozen civil subpoenas and has multiple inquiries underway.

So far, no cases have come out of that effort, and some critics have dismissed the task force as an election-year stunt.

(Reporting by David Ingram and Aruna Viswanatha, Writing by Karey Wutkowski; Editing by Gary Hill and Richard Pullin)

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One response to “jews won’t ever prosecute other jews, aka Goldman Sack Balls

  1. peter888

    THE BIG PARTY OF GOLDMAN SACHS IN ITALY

    enrico letta, THE PRIME MINISTER OF ITALY IS PROCEEDING TO THE SELLING OUT OF ITALY. https://en.wikipedia.org/wiki/Enrico_Letta
    enrico letta IS A MAN OF GOLDMAN SACHS BECAUSE HIS UNCLE gianni letta IS “A MEMBER OF THE ADVISORY BOARD OF GOLDMAN SACHS INTERNATIONAL”. https://en.wikipedia.org/wiki/Gianni_Letta
    GOLDMAN SACHS IS CONTROLLED BY BLACKROCK.
    ” BlackRock says it owns about 6.2% of Goldman and 5.4% of Morgan Stanley ” http://advisor.morningstar.com/articles/printfriendly.asp?s=&docId=18573&print=yes
    ” Merrill Lynch & Co., Inc., a wholly-owned subsidiary of Bank of America Corporation, The PNC Financial Services Group, Inc. and Barclays PLC own economic interests in BlackRock approximating 34.1%, 24.6% and 19.9%, respectively, with the remainder owned by institutional and individual investors, as well as BlackRock employees.”
    http://publicintelligence.net/blackrock-inc/
    Bank of America is connected with the person of Warren Buffet a notorious friend of Lord JACOB ROTHSCHILD.
    http://www.huffingtonpost.com/2011/11/14/warren-buffett-ibm_n_1092165.html
    Lord JACOB ROTHSCHILD “Hosted the European Economic Round Table conference in 2002 at Waddesdon Manor, attended by such figures as James Wolfensohn, Nicky Oppenheimer, Warren Buffet, and Arnold Schwarzenegger ” https://wikispooks.com/ISGP/organisations/introduction/PEHI_Jacob_de_Rothschild_bio.htm
    Bank Of America and Merrill Lynch are also related with the Edmond De Rothschild, owned by BENJAMIN DE ROTHSCHILD, through the persons of Gerald Levy, Matthieu Walterspiler, Barbara Colombo, Beate Bakker, etc… https://en.wikipedia.org/wiki/Benjamin_de_Rothschild
    http://www.linkedin.com/pub/gerald-levy/60/b49/b87 http://uk.linkedin.com/in/walterspiler http://www.linkedin.com/pub/barbara-colombo/26/b21/766 http://ch.linkedin.com/pub/beate-bakker/16/a55/491
    Warren Buffet is also a friend of EVELYN DE ROTHSCHILD.
    https://wikispooks.com/ISGP/organisations/introduction/PEHI_Evelyn_de_Rothschild_bio.htm
    The same Warren Buffet, that is chairman of Berkshire Hathaway, ” agreed to purchase $5 billion in Goldman’s preferred stock “.
    https://en.wikipedia.org/wiki/Goldman_Sachs https://en.wikipedia.org/wiki/Berkshire_Hathaway
    Barclays is a bank related with the British Crown and therefore connected with Lord JACOB ROTHSCHILD and EVELYN DE ROTHSCHILD.
    ” Lord JACOB ROTHSCHILD, the behind-the-scenes controller of the Inter-Alpha Group, was a partner at Rothschild at the time he set up the Inter-Alpha Group in 1971, using its resources and then leaving in 1980 to continue his special mission, which includes advising the genocidal British Crown and managing the funds of Prince Charles’ Duchy of Cornwall, to finance his kooky, “green” schemes.”
    http://unitednationsoffilm.com/?p=1728
    ” Prince Charles already played polo with EVELYN DE ROTHSCHILD in his student years and later set up the Interfaith consultations with him. ”
    http://www.gnosticliberationfront.com/people_with_the_endless_bios.htm
    EVELYN DE ROTHSCHILD ” In 1989, he was knighted by Queen Elizabeth II,[2] for whom he serves as a financial adviser. ” https://en.wikipedia.org/wiki/Evelyn_Robert_de_Rothschild
    Barclays Bank and Royal Bank of Scotland are also linked with BENJAMIN DE ROTHSCHILD.
    http://www.linkedin.com/pub/laura-scolan/a/ba1/7b7 http://www.linkedin.com/pub/mark-phillips/4/5b9/772 http://it.linkedin.com/pub/guido-corsetti/a/67a/44a http://www.linkedin.com/pub/nicolas-jugniot/b/78/884
    letta IS SELLING THE COMPANY ANSALDO TO DOOSAN, GENERAL ELECTRIC AND HITACHI.
    DOOSAN IS RELATED TO MCKINSEY. https://alumni.mckinsey.com/alumni/default/public/content/jsp/alumni_news/20060926_JimBemowskiLBN.jsp
    MCKINSEY IS LINKED WITH TONY BLAIR, A NOTORIOUS FRIEND OF LORD JACOB ROTHSCHILD AND SIR EVELYN DE ROTHSCHILD.
    http://aangirfan.blogspot.com/2005/06/enron-mckinsey-tony-blair-cabinet.html http://www.dailymail.co.uk/news/article-1359330/Gaddafi-heir-Saif-inevitably-friend-Andy-Mandy.html
    http://www.dailymail.co.uk/news/article-1138789/Now-Tony-Blairs-finally-got-private-jet-hes-wanted-rented.html
    MCKINSEY IS ALSO LINKED WITH BENJAMIN DE ROTHSCHILD. http://il.linkedin.com/pub/michal-agmon/22/359/784 http://www.linkedin.com/pub/dir/Pascal/Chrobocinski
    GENERAL ELECTRIC IS CONNECTED ALSO WITH BP AND GOLDMAN SACHS BOTH CONTROLLED BY BLACKROCK. http://larouchepub.com/other/2007/3427bae_slimemold.html
    http://www.sourcewatch.org/index.php/BlackRock
    HITACHI ALSO HAS RELATIONS WITH GOLDMAN SACHS. http://www.hightechnewstoday.com/mar-2011-high-tech-news-archives/55-mar-07-2011-high-tech-news.shtml
    ” Professor Joseph Stiglitz, former Chief Economist of the World Bank, and former Chairman of President Clinton’s Council of Economic Advisers, goes public over the World Bank’s, “Four Step Strategy,” which is designed to enslave nations to the bankers. I summarize this below,
    Step One: Privatization.
    This is actually where national leaders are offered 10% commissions to their secret Swiss bank accounts in exchange for them trimming a few billion dollars off the sale price of national assets. Bribery and corruption, pure and simple. ” http://www.iamthewitness.com/books/Andrew.Carrington.Hitchcock/Synagogue.of.Satan/1998-2002.htm
    letta AND company ARE PREPARING TO TAKE THE TANGENT OF 10% BY GOLDMAN SACHS ? http://www.telegraph.co.uk/finance/markets/2809685/Italians-claim-country-run-by-Goldman-Sachs.html

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