U.S. Goldman Disclosure a Rare Break in Secrecy – NYTimes.com

U.S. Goldman Disclosure a Rare Break in Secrecy – NYTimes.com.


Senator Carl Levin has criticized what he called questionable conduct by Goldman and other banks.

Looks like Goldman Sachs will go Scott Free once again.

WASHINGTON — After deciding not to prosecute Goldman Sachs for its conduct during the financial crisis, the Justice Department did something rare: it publicly announced that the investigation was closed.

The unusual public announcement came after Goldman’s lawyers pushed for a notification that the bank would not be charged, according to two people with direct knowledge of the matter who spoke on condition of anonymity.
In a 450-word statement issued late Thursday, authorities said that “based on the law and evidence as they exist at this time, there is not a viable basis to bring a criminal prosecution.”
Many legal experts agree it would have been hard to bring charges. But the public announcement also raised eyebrows because under most circumstances criminal inquiries are shrouded in secrecy. When the Justice Department decides to end a criminal inquiry without prosecuting, it usually does not disclose that decision to the public — or even to the target of the investigation.

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