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Department of Justice will not prosecute Goldman Sachs

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    No criminal case will be pursued in response to financial crisis

  • Duration 2:04
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Breaking news now on Fox News Channel just minutes ago we got word.

That the Department of Justice will not prosecute Goldman Sachs or any of its employees for the company's role in the nation's financial crisis.

The Securities and Exchange Commission had previously ordered that investment bank.

To pay 550.

Million dollars to settle charges that Goldman misled investors about sub prime mortgages.

It's breaking news and -- manuals on it from DC what the Justice Department's decision means here Mike.

We'll -- the department justice just announced that after careful review and more than a year of thorough investigation as they put it is determined that quote.

Based on the law and evidence is 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 in other words they did not think they had the goods in terms of the burden of proof.

To bring a criminal case based on what the law is in what investigators know.

I should note that they also do you say if any additional or new evidence emerges today's assessment does not prevent.

The department from reviewing such evidence and making eight different determination if warranted.

So in other words if new evidence comes forward.

They will go forward Shep you know it -- many in Washington and some of the president's own party -- say they're frustrated that nobody's being held legally accountable.

That's true including some close allies like congressman John Conyers who said this before the House Judiciary Committee back on June 7.

Four years.

After the worst economic upheaval since the Great Depression.

We are still looking to hold some of those Wall Street.

Barron's.

Accountable.

So there may be some frustration.

On main street if you will to this decision by the Department of Justice again just happening moments ago and perhaps a sigh of relief for some.

On Wall Street -- like a manual with the breaking news from DC tonight governor Mitt.

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