The Associated Press reports that, "Federal prosecutors in New York have been examining transactions by Goldman Sachs Group Inc., accused of fraud by US securities regulators, to determine whether to pursue a criminal case,"

Now of course bets are being placed that Goldman, who is known to own the government, won't sweat this, and that a DOJ review,  of high-profile case is common, and that the U.S. attorney in Manhattan, who is handling the review, won't go against his best career interest, which is to always keep the big boys on Wall Street happy.  But you never know. But, if the Securities and Exchange Commission had the nails for Goldman Sachs coffin, they would have gone for a criminal case against Goldman, not a civil one.  Criminal cases are harder to prove. But if somebody would show up with some evidence -- a smoking gun -- and that gun really has to be hot and smoking -- then?

Well back up. Douglas R. Jensen, an attorney with Park & Jensen LLP in New York, a former deputy chief of the criminal division of the U.S. attorney’s office in the Southern District of New York, told Bloomberg, "The case appears 'highly complex' and Goldman Sachs would be able to make multiple arguments in its defense." Yeah -- will be able to blindside a rube jury, judge and honest prosecutor. Mr. Jensen continued, "In order to proceed criminally in a case, you need to have very clear evidence of lying, cheating and stealing.”

Normal lying, cheating and stealing won't do. Folks expect  normal lying, cheating and stealing on Wall Street. Therefore, the news that the DOJ is investigating Goldman Sachs is a yawn.