Arab Today, arab today us drops probe into banking giant
Last Updated : GMT 04:22:03
Arab Today, arab today
Arab Today, arab today

US drops probe into banking giant

Arab Today, arab today

Arab Today, arab today US drops probe into banking giant

Washington - DW

Investment bank Goldman Sachs has escaped prosecution over its alleged part in the global financial crisis. The bank had been held up as a symbol of Wall Street greed. In a statement late Thursday, the U.S. Justice Department said \"there is not a viable basis to bring a criminal prosecution with respect to Goldman Sachs or its employees.\" The charges, related to trades made during the financial crisis, were highlighted in a 2011 U.S Senate report. The Senate committee alleged the financial services giant betted its own money on the imminent collapse of the credit market, all the while including investments tied to subprime mortgages in its clients\' portfolios. U.S. Senator Carl Levin said Goldman misled the country\'s Congress and investors. The Senate inquiry focused on a subprime mortgage known as Abacus. \'Burden of proof not met\' The decision by the Justice Department to announce it wasn\'t prosecuting Goldman Sachs is unusual, as the department typically does not make public statements when it concludes an 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,\" the Justice Department said in a statement late on Thursday. The statement said investigators and prosecutors worked on their inquiry for \"more than a year.\" \"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,\" the statement said. Calls for accountability Since the beginning of the global financial crisis in 2008, Goldman Sachs and the wider financial sector have come under widespread condemnation from politicians and the public. \"We are pleased that this matter is behind us,\" said the bank\'s spokesman David Wells. However, the case is a reminder that no individual or organization has been held accountable for their role in the crisis, according to Neil Barofsky, a former supervisor of the U.S. government\'s financial system bailout in 2008. Barofsky is an outspoken critic of that government\'s response to the financial crisis. \"Without such accountability, the unending parade of megabanks scandals will inevitably continue,\" he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us drops probe into banking giant Arab Today, arab today us drops probe into banking giant

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us drops probe into banking giant Arab Today, arab today us drops probe into banking giant

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 'Final phase' of battle for Raqa

GMT 03:47 2017 Monday ,16 October

'Final phase' of battle for Raqa
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today Conservation cutbacks put Brazil's

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:20 2017 Thursday ,12 October

Chad extends key conservation area

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday