"In November 2009, Attorney General Eric Holder vowed before television cameras to prosecute those responsible for the market collapse a year earlier, saying the U.S. would be 'relentless' in pursuing corporate criminals," reports Bloomberg here.

"In the 18 months since, no senior Wall Street executive has been criminally charged... Prosecutions of... corporate, securities and bank fraud declined last fiscal year by 39 percent from 2003, the period after the accounting scandals at Enron Corp...

"According to an April 13 report by the Senate Permanent Subcommittee on Investigations... Goldman Sachs Group Inc. (GS) and Deutsche Bank AG (DB) sold collateralized debt obligations, investments backed by pools of bonds and loans, that the banks’ own traders believed would lose value... Goldman Sachs misled clients who bought the securities... Goldman Sachs denied it misled anyone, and the Justice Department is reviewing the report. Last year, Goldman Sachs paid $550 million to settle SEC claims it misled investors..."

The firm denies wrongdoing. "Goldman Sachs’s 2009 profits were a record for the firm...

"Former prosecutors said one reason for the decline in the fraud prosecutions since 2003 may be that FBI agents were reassigned after the Sept. 11 attacks from criminal cases to national security..."