investigates why Wall Street’s leaders have escaped prosecution for any fraud related to the sale of bad mortgages.
Are the CEOs of mega-banks too big to jail? Though fraudulent practices at banks contributed to America’s financial meltdown, to date no Wall Street titan has been convicted of a crime connected to the crisis. Frontline investigates the lack of prosecutions of Wall Street executives in the wake of the mortgage-backed securities fueled financial crisis.
Commenting on clips from the episode showing former home loan underwriters explaining how they would laugh as they pushed through mortgages that were too expensive for the borrowers, Smith said this type of behavior was “very frequent and common.” “There are lawsuits that name 35 – easily 36, 37 – of these kind of testimonies, and these guys are joking about it at this point, but of course it’s not really funny in the end because it all resulted in the collapse of 2008, a million people losing their houses, many people out of work and businesses seeing demand sink.”
zacharypch on October 5th, 2017 at 03:13 UTC »
Why is this a DailyMotion video on some random site? Why not let PBS get whatever benefit they can out of us watching it?
Here's the real link for this doc:
http://www.pbs.org/wgbh/frontline/film/untouchables/
GeneralButNehked on October 5th, 2017 at 02:53 UTC »
Nice to see some real journalism for a change. Too bad Frontline is one of the last programs still doing it these days....
49orth on October 5th, 2017 at 01:12 UTC »
This is a very big reason why 2016 voters were and are unhappy with the Democratic Party establishment, especially the perceived corruption that was endemic to the Obama administration.
It wasn't just Hillary, but a deep sense of mistrust among voters that another Democrat President would continue to turn a blind eye to corporate pilfering of the taxpayer's larder.
EDIT: Here is the PBS link to the Frontline Documentary, "The Untouchables" . And, just a personal note of thanks to their cadre of excellent journalists, and same goes for NPR and all donors and benefactors including taxpayers who support these important public education institutions!
Also: Here is a link to the four-part PBS series about Wall Street and Money, of which The Untouchables is one.