The Justice Department announced Thursday that it will not prosecute Goldman Sachs or any of its employees in a financial fraud probe.
In 2008, Goldman Sachs employees donated $1,013,091 to Barack Obama.
To date, Eric Holder’s Department of Justice has not charged, prosecuted, or convicted a single top Wall Street executive.
Holder’s former law firm, Covington & Burling, counts Goldman Sachs as one of its clients.
Last month, the Wall Street Journal reported that, contrary to popular perception, the Obama campaign is still receiving strong financial support from Wall Street:
The securities and investment industry has remained an important part of the Obama fundraising effort. Mr. Obama and the Democratic National Committee raised more than $14 million from the securities and investment industry through the end of April, according to the nonpartisan Center for Responsive Politics. Mr. Obama’s campaign alone raised $361,000 from the industry in May.
It’s true that those totals are well below the $28.2 million that Mr. Obama, together with the DNC, raised from the industry throughout the 2008 campaign. And Mr. Obama has fewer securities and investment fundraisers than he did four years ago, though he still has time to bring more people into the fold.
As Barack Obama explained to a group of big bank executives just days after his election, “My administration is the only thing between you and the pitchforks.”
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