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No charges for Goldman Sachs over US financial crisis

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    Insight into DOJ announcement

  • Duration 2:06
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List of corporations and individuals who will not face criminal charges growing out of the financial meltdown got bigger late Thursday.

The latest firm to escape prosecution Goldman Sachs.

Our chief congressional correspondent Mike Emmanuel on the decision.

Back -- the Justice Department announced it's more than one year investigation looking into the causes of the financial meltdown would not lead to criminal prosecution the Goldman Sachs or its employees.

The firm expressed a sigh of relief quote.

We are pleased that this matter is behind -- the justice investigation was prompted by a bipartisan senate report.

By Democrat Carl Levin and Republican Tom Coburn.

That probe found Goldman marketed four sets of complex mortgage securities to banks and other investors.

And didn't tell clients they were risky investigators also said Goldman secretly bet against its investors.

The report.

Tells the inside story.

Of an economic assault.

-- cost millions of Americans their jobs in their homes.

While wiping out investors good businesses.

And markets.

-- did not comment on DOJ's decision but -- blasting Goldman in a statement quote.

Its actions did immense harm to its clients and help create the financial crisis that nearly plunged us into a second Great Depression at the white house Press Secretary Jay Carney ducked a question or I would have to refer -- to Justice Department and I have not spoken to the president about this.

You know he's very focused on.

Taking measures that assist.

Homeowners Goldman has paid a price in terms of a 550 million dollar fine to settle at the SEC.

And its stock price and reputation were damaged -- analysts say there have been lessons learned.

The market.

Plus the regulators.

Combined.

Make it very unlikely that this kind of behavior while having an intention.

And -- says DOJ was Smart in not prosecuting if they felt they lacked a strong case after recent high profile failures with John Edwards.

And Roger Clemens John together they were -- to go to for three particularly on Goldman Sachs remotely good exactly.

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