Friday, August 10, 2012

Capitalistic acts among consenting adults

Still not illegal;
The Justice Department said Thursday it won't prosecute Wall Street firm Goldman Sachs or its employees in a financial fraud probe.
In a written statement, the department said it conducted an exhaustive investigation of allegations brought to light by a Senate panel investigating the 2008-2009 financial crisis.
"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 department said.
Which must disappoint Michigan's Senator Carl Levin (last seen by the HSIB editorial board using naughty language on C-Span), who seemed to be sure that highly intelligent, well educated, investment professionals must have broken some law by investing on opposite sides of the mortgage backed securities market.

Because some lost money and some gained!

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