Matt Tabbi: DOJ ‘playing softball’ with Wall Street firms

By Eric W. Dolan
Tuesday, August 21, 2012 23:39 EDT
google plus icon
Matt Taibbi screenshot
  • Print Friendly and PDF
  • Email this page

Matt Taibbi of Rolling Stone on Tuesday night blasted the Department of Justice for not prosecuting Goldman Sachs or any of its employees despite a nearly year-long fraud investigation.

“They haven’t done a single thing, I mean that’s what’s so incredible about it,” he told Current TV host Eliot Spitzer. “It would be one thing if they decided, ‘Let’s put all our chips in one pile and go after one big fish and we’ll make that our signature case,’ but they didn’t do that, they didn’t pick anybody. Their answer was ‘None of the above,’ which is an incredible conclusion for them to draw.”

A 2011 report led by Sen. Carl Levin (D-MI) found that Goldman Sachs had misled investors and was betting heavily against their own clients. Levin also accused the financial firm of misleading Congress and helping to create the financial crisis.

While the U.S. Securities and Exchange Commission has filed a civil complaint against Goldman vice president Fabrice Tourre, the Department of Justice has declined to prosecute anyone at the firm. The Justice Department said there was not enough evidence that Goldman Sachs broke the law.

“I think a prosecutor’s primary job is to be a fighter. I mean, he has to be pugnacious, he has to feel like, ‘I’m going to do whatever it takes to get these guys if they’ve done something wrong,’ and these guys are exactly the opposite of that,” Taibbi added. “They’re kind like Tom Cruise in the first half of ‘A Few Good Men,’ you know, they’re just making deals and playing softball – they don’t want to go to trial.”

Watch video, courtesy of Current TV, below:

Eric W. Dolan
Eric W. Dolan
Eric W. Dolan has served as an editor for Raw Story since August 2010, and is based out of Sacramento, California. He grew up in the suburbs of Chicago and received a Bachelor of Science from Bradley University. Eric is also the publisher and editor of PsyPost. You can follow him on Twitter @ewdolan.
By commenting, you agree to our terms of service
and to abide by our commenting policy.