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2014-07-09
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2013-09-29
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2012-12-30
CBS News - Year In Review 2012

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2012-12-25
Happy Holidays

2012-12-21
Welcome To A New Era!

2012-12-16
An Open Letter To United Health Care, Medcom, And The Medical Insurance Industry In General

2012-11-17
Whitehouse Petition To Remove "Under God" and "In God" From Currency And The Pledge.

2012-11-15
December 21, 2012

2012-11-11
If Hillary Clinton Ran For President, She Would Probably Be The Best-prepared Candidate In American History

2012-11-10
CIA Director David Petraeus Resigns After FBI Investigation Uncovers Affair With High-Profile Journalist

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2012-11-07
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2012-11-06
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2012-09-30
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2012-09-18
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Iran Nuclear Chief Says IAEA Might Be Infiltrated By 'Terrorists And Saboteurs'

Romney Stands By Gaffe

2012-09-17
President Obama Says China Trade Practices Harm American Auto Parts Workers


U.S. Justice Dept. Won't Charge Goldman's For Infamous Trades
2012-08-10 03:54:49 (123 weeks ago)
Posted By: Intellpuke
Neither Goldman Sachs Group Inc nor its employees will face U.S. criminal charges related to trades they made during the financial crisis that were highlighted in a 2011 U.S. Senate report, the Justice Department said on Thursday.

The unusual announcement not to prosecute criminally came in an unsigned statement attributed to the department.

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 years looking into Goldman.

Levin's subcommittee held televised hearings as part of its inquiry, which centered on a sub-prime mortgage product known as Abacus. He said Goldman misled Congress and investors.

Goldman employee Fabrice Tourre still faces a civil complaint from the U.S. Securities and Exchange Commission. He has denied any wrongdoing and was the only person accused.

(story continues below)




Goldman settled with the SEC for $550 million in July 2010 without admitting wrongdoing.

The statement from the Justice Department said that officials there "have determined that, based on the law and evidence as they exist at this time, there is not a viable basis to bring a criminal prosecution with respect to Goldman Sachs or its employees in regard to the allegations set forth in the report" from Levin's subcommittee.

Justice Department investigators and prosecutors worked on their inquiry for "more than a year," said the statement.

Those working on the inquiry included officials in the department's Criminal Division and in the U.S. Attorney's Office in Manhattan, said the statement.

They "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 statement continued.

"If any additional or new evidence emerges, today's assessment does not prevent the department from reviewing such evidence and making a different determination, if warranted," said the statement.

Intellpuke: You can read this article by Reuters Correspondent David Ingram, reporting from Washington, D.C., in context here: bottomline.nbcnews.com/_news/2012/08/09/13205102-feds-wont-charge-goldman-for-infamous-trades?lite

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