There should be more bankers from Goldman Sachs facing criminal charges. Too few have been charged criminally, despite their actions in the years leading up to the bubble. A combination of difficult to prove charges and the wealth and power of the firm have allowed the bankers to skirt jail time.
Each of the Goldman Sachs Bankers should face criminal charges, and those who have not yet been charged need to have a full investigation of their handling's of information. While many charges may have already been established, the entire Board and those in the higher offices should all be investigated and then face criminal charges as discoveries of misdoings are found.
The collapse of the American real estate market and the subsequent collapse of many economies around the world were the result of bad investment gambles that required huge amounts of public money to rectify. Banks and bankers have managed to escape from prison sentences by only being required to pay fines whenever violations have been spotted.
Our society is governed by some pretty basic social mores. As young children we are taught not to take things that don't belong to us. As we get older, our definition of stealing becomes more complex, and we come to understand fraud. If the bankers at Goldman Sachs had been average citizens there would have been no question that by betting against subprime mortgages, they were essentially stealing. The average person would have gone directly to jail.