Goldman Avoids DOJ Charges, SEC Probe Into MBS Sales

Law360, New York (August 9, 2012, 11:34 PM EDT) -- Goldman Sachs Group Inc. on Thursday escaped charges from the U.S. Department of Justice hours after the bank said the U.S. Securities and Exchange Commission dropped its probe into the sale of $1.3 billion in subprime mortgage-backed securities, two significant wins for the Wall Street giant.

The Justice Department conducted an exhaustive investigation following a U.S. Senate panel's report on the 2008 financial meltdown that launched fraud allegations at Goldman, but that the "burden of proof" for bringing charges could not be met at this time,...
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