imagesFraud and criminal conduct were at the heart of the financial crisis. More than 4 years later, no one has gone to jail, and no one has been held accountable. Why did justice back off? Did the government fail?

In this MUST WATCH documentary The Untouchables, FRONTLINE investigates why Wall Street’s leaders have escaped prosecution for any fraud related to the sale of bad mortgages and the 2008 financial collapse.


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Watch The Untouchables on PBS. See more from FRONTLINE.

  1. And so, boys and girls, millions of our dollars were spent and we have absolutely zero to show for it.  The billions of dollars that were sucked out of the economy of the US by banksters engaging in fraud on a massive scale was never punished, thus absolutely guaranteeing that it will recur.  And why not?  Fabulous riches to those who dare with no punishment of any kind as a result.  This provides FAR too tempting a ripe and juicy plum not to be picked by those with no moral fiber whatever.  There is no shortage of individuals of that minuscule stature either at the big banks or on Wall Street.  Apparently, in all this, there is plenty of money available to ensure that the US Gov is well and truly neutered as well.  Amerika!  Whatta country!
     

    • Ed_B
      There are no Pariots in high office to prosecute or interfere with the massive state of corruption/fraud.
      The saving grace will be one of two things, 1,) Whistleblowers that know what is happening and gaining no monetary gains from the fraud or 2.) The system will implode upon itself.

    • Unfortunately since 9/11 the US has been taken over by fascists who have plundered and ruined the country. I just don’t see how the US can be saved.

  2. Bloomberg and other financial News reports tonight: January 24, 2013
    Global growth much lower than expected.
    China Curbing Gold purchases.
    Global Stock Bears increase seeing sharp decline in stocks within 2-3 months by global analysts
    Bernanke to keep pursuing QE
    Gold and Silver seen by analysts to trade sideways for next 3 to 4 months
    U S Dollar against world currency wars seen to be in furher decline over the next 2-3 months
    India stocks in decline
    Japan printing Yen to infinity possibly good for Gold and Silver (Minimal)
    WTI increasing, Gold may moderately increase if no major fall back in WTI
    Euro slightly down to the dollar
    Yuan has been said to be backed by Gold co faction with Russia and various trading partners for oil
    Apple Stock in declination (Silver?)

    • @silvermail
      Info came across Bloomberg TV ticker around midnight CST last night. Guess the Silver shortage has caused Silver
      and Gold to be hammered down today because te buyers are selliing what they bought Reckon?

  3. If China is curbing gold sales maybe it’s because they’ve bought everything they can without tipping the world gold balance and sending prices up.  A senior Chinese diplomat made a clear statement that China plans a gold backed currency with Russia. Ooops.  
    The Richmond Fed measures of economic activity absolutely stunk up the place with red arrows way beyond what was expected.  Hurrican Sandy was supposed to help with manufacturing etc.  So much for that hypothesis.

  4. PS
    As I listen to this video, it reminds me of the first big banking collapse right at the beginning of my career. This was the S&L debacle. Several hundred bankers were jailed due to their criminal acts and ineptitude in lending. In the next crash, 1989 to 1994, I saw nearly 1,000 banks fail and be taken over by the Fed. But no one went to jail. The banksters learned their lessons from the 1980′s. They learned how to avoid the worst of the market cycles and make money during the upside of the market, a period that went from 1994 to 2007. They also learned how to make money on the downside, knowledge gained when the government took over failed banks in the 1989-1994 crash.They also learned how to cover their tracks and avoid jail time. They knew the government would come to their rescue, saving their banks, or at least the larger ones. These large banks knew they could scoop up bargain basement assets for pennies on the dollar, further consolidating their power and income. The government was scared to death of another round of bank failures, at a cost of $500 billion during this 5 year period. The political elite turned a blind eye to the criminality of the banker actions.
    In the good years bankers found a compliant Congress and Presidents all too willing to save the bankers from their worst habits, allowing and reward those who stayed the course to have free run of the insane asylum. They Bowed and scraped to the government -mandated loans to unqualified borrowers, borrowers who voted to support those politicians who gave bankers free reign, and bankers knew if they paid lip service to the rules, they would not be stopped from bad lending and making obscene profits.
    Bankers followed the paths to fabulous profits making scandalously bad loans that were fully supported and required by the Federal banking regulations. Imagine if you were given a license to steal and then told to go out and steal. This is what happened. Elliott Ness was no where to be found.
    Breaking the chains of Glass Smeagel allowed the banksters to run rampant in the markets in a manner similar to the toothless laws regulating illegal drugs. They knew from the last 2 banking fiascos that the Feds would bail them out. Cowardly politicians were unwilling to allow another collapse on their watch. Private profits inured to the banksters. Public losses are paid by the tax payer. Tens of trillions of dollars were lost in the last debacle due to banker greed, political cowardice and the certain knowledge by these two groups of evil people that the vast majority of the sheeple would accept the losses thrown on their backs; accept their impoverishment and told the world would end if they did not pay for the excessed and greed of bankers and elected leaders. And the sheeple bought this line of consumate deceipt and double dealing. And here we are, at the bring again. When will we learn?

    • Only thing to learn is that the government is the enabler.  No reason to debate who is the worst of the two, the perps or the enablers, because they are in bed with one another.  Just buy silver/gold and wait until the smoke clears.

  5. RonPaulLib  I saw the lastest note on the Chinese diplomat on King World News and Steven Leeb’s essay about that subject and the note that China has the world’s second largest gold reserve.  I estimated 10,000 tons given their puchase, mining and 1,800 years of stacking efforts.  KWN got all bent and pissy when Doc posted something from them several months ago so I won’t do a link.  Just go to Doc’s favorites Harvey Organ  His post yesterday had the story from Leeb and KWN about half way down that day’s posts.  Its a decent read but I try diplomats as far as a trust bankers but for different reasons.  A slip of the tongue is the diplomat’s way of skewing MOPE and changing the entire dynamics of this FIAT paradigm we live in.  But following the money, or gold as the case may be, is probably a better point of reference to these currency backed thoughts.
    I am pretty sure Dr Willie has pounded on that subject at length for several months.

  6. Man that was a neat video if you watched the whole thing 1hr long. Truly the Banksters are criminals and are to blame for what’s happening today. Just shows you what we are up against and how they are protected by our Government.
    Plenty of arrests but No Wall Street Executives, what a joke. And Lanny Breuer is a Joke also.

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