Calls to charge companies returned after the financial crisis of 2008, when there was clear evidence of widespread wrongdoing at banks. As the banking system steadied and prosecutors wanted to hold bankers accountable, the Obama administrations started to obtain guilty pleas from banks on criminal charges. Are criminal charges against Goldman Sachs even likely? At the same time, if evidence of serious wrongdoing is found at Goldman, prosecutors are likely to take stringent action. Much depends on how many high-level employees were complicit or negligent and whether there were significant weaknesses in Goldman’s controls.

Source: New York Times December 19, 2018 12:00 UTC