The Untouchables (full documentary) | FRONTLINE
FRONTLINE investigates why Wall Street’s leaders escaped prosecution for any fraud related to the sale of bad mortgages. (Aired 2013)
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Are Wall Street executives “too big to jail”? In the 2013 documentary, “The Untouchables,” producer and correspondent Martin Smith (“Money, Power, and Wall Street”) investigates why the U.S. Department of Justice failed to act on credible evidence that Wall Street knowingly packaged and sold toxic mortgage loans to investors, loans that brought the U.S. and world economies to the brink of collapse. Through interviews with top prosecutors, government officials and industry whistleblowers, FRONTLINE reports allegations that Wall Street bankers ignored pervasive fraud when buying pools of mortgage loans.
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define 'free'
Hyper rich stealing and avoiding prison or not even losing their job is a slap in the face to the true working class of the world
And it's happening again with crypto. Rich insiders doing pump and dump or rug pulls. Instead of it being bankers (but there's still bankers doing it) it's techbros, venture capitalists, and social media influencers.
"They got the money, hey they got away". Steve Miller Take the Money and Run.
Agreed
don't forget.. they actally are at the table where the rules are written
This have been happening for decades. Nothing is gunna change.
Sad thing is that the DOJ didn't make one single indictment to ALLOW A JURY to decide if these monsters were indeed criminals. He took it on himself to be the judge AND jury and decided not to even bring ONE SINGLE person to be prosecuted.
You can thank Barrack Obama for that. I can read between the lines and tell that he was paid off to look the other way to let Wall Street off the hook. Obama had a net worth of around 3 million dollars when he became President. After 8 years in office he walked out the door with a net worth of 38 million dollars. He somehow made that much on a 400 thousand dollar a year job as President. He was paid off it's rather obvious
The admission that nothing was done because they were afraid of the ramifications was shocking. What he said was "if you're important enough, you're immune to prosecution."
Criminals on Wall Street need to be held accountable! Period!
You can thank Barrack Obama for failing to prosecute anyone. He was paid off by Wall Street to look the other way. He was worth 3 million dollars when he became President. 8 years in office and walked out with a net worth of 38 million dollars. He did all that on a 400 thousand dollars a year salary. Lol. Barack Obama walked into the chicken coop and cleaned out the cash too
So do politicians.
It is sad to see this was aired in 2013 and still nothing has changed
yup the other interesting documentary Colossal Failure of Common Sense.
There investigation hedge funds now
The man said it himself, he lies awake at night worrying how to prevent harm to the perpetrators.The perpetrators contribute mightily to politicians. We have the best government money can buy.
Well , Putin has invaded Ukraine twice since then.
That’s not true- the crooks are even richer now.
My parents lost 70% of their retirement People that had no part in this were devastated and the bonuses those executives got. WTF. Travesty of Justice
@Legalize Raping Russian Broads In America weird because Russia stopped adoption to the US, must have been a real bummer for you. this has to be the weirdest comment I've ever read. Not sure what you are, a Russian, FBI or a serious rapist fucking creep. I doubt its the last one, to obvious.
me too and i thought i had diversified enough to keep it safe i shouldve listened to my financial advisor...cashed out and stuck all the money under my mattress
@@thewkovacs316 think its time to cash out again
This is the lack of Honesty that is making My Country Angry !
They lost because they sold. Had they held on, they would have lost nothing.
This is why MY priority when I bought my house was to pay off the mortgage ASAP, the first year I paid two coupons each month to be a year ahead after a year. Every time I got extra money, bonus etc I specifically put it on the principal of the loan, and I made extra payments every month, that was how I paid off a 10 year mortgage in 4-1/2 in 2004 and since then owned my house outright with no bank, loan or any other BS over my head. I was homeless once for a few weeks in the late 80s, I vowed that would never happen again- no more landlords or anyone holding power over my HOME! I did not buy big screen tv's, new furniture, ride-on lawn mowers, a new car, trip to Europe, I put all my money on the MORTGAGE first, I bought a used car, a used push mower and I didn't care if the mortgage interest was as low as it was and that I could have made interest on the money instead, I wanted it PAID OFF 100% ASAP.. I saved a LOT of interest paying off a 10 year loan in 4-1/2, I made SURE before I got the mortgage that it had NO pre-payment penalty or balloon payments, and then signed for it.
you will still lose your house; why; to repay the banks; a huge tax increase will be put on houses, a huge green tax on your car; you will be fired from your job at the point you are too old; to get food you will need to sell the lowered value house in order to get welfare to eat.
You're the man. The reason why money lenders earn tons of money is because not many people in the world are like you.
Frontline journalism is some of the best. These documentary's are always interesting and keep you locked in throughout the drama. Thank you Frontline for years of great entertainment.
It used to be, now much of it is biased political garbage.
LoL. That's sad that this is enough to make you happy. These experts suck, the narrator sounds 90, it has no substance. I'm really sad that PBS fell this far. Elliot Spritzer is a expert?? 😂
PBS Frontline, DW from Germany The Fifth Estate from Canada are probably the top three investigative journalism agencies that do perform an excellent thorough job in research
@@nicolatesla5786 Frontline journalism is some of the best, not really. Always one sided and this report is a little like a bunch of kids whining because their kiddie pool is leaking and the ice cream has melted.
@@Wall2000xWoW what an enlightened perspective. Sweeping generalizations, ad-hominem and out right nonsense. Truly a scholar of logic with no equal
Martin Smith and the Frontline team have been leaders in financial investigative journalism for decades. Thank you both.
To bad their bias.
Want the front line? Retail investors uncovered everything
@Woodie bet you have never seen a $35m bonus. It's then vs you.
@@WiCapitalco You are right. $35 million for fucking up.
they didn't fuck up, they did their job...fucking you up, that's why they got their bonus
Ted Kaufman is an object lesson in why direct corporate campaign contributions and lobbying should be illegal. Yes, banks and large corporations deserve a voice-but we clearly are living in a system where their voice is so insanely outsized that not even objective truth can get a word in edgewise.
Bittertruth...
Agreed, unfortunately lobbying is protected under the 1st Amendment (freedom of speech).
Banks and large corporations aren’t the only special interests with substantial government influence. Unions do the same things. Banning corporations from doing it and not unions would be a disaster for business. I don’t see how we could say special interests should have a voice except for this one group of special interests because we think their voice is too loud
Here, here 👏
@@anonymousperson6119 well if the unions have similar lobbying power (which they don’t) , they’ve obviously failed miserably when you look at the anemic minimum wage increases both federally and state since the 1970’s. Then compare these increases to the salaries of CEO’s and senior management at corporations over the same period.
Best quote I heard: "Too big to fail, too big to jail..."
The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
I keep wondering how people earn money in financial markets, i tried trading crypto on my own made a huge loss and now I'm scared of investing more....
@@nyreggie That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
@@dralfred2400 You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe?
Wow I can't believe you guys are discussing about *Gary Mason Brooks* , I once met him at a conference in California 2019, just before the pandemic. I can testify that he’s very good in trading..Highly recommended…
If you want to commit crimes without being held accountable, give shareholders a cut. Corporations are the new crime families.
well said!
There are also political crime families.
Correct but their not new they’ve been crime families since the turn of the 20th century.
New? They have been for decades.
And people wonder why the younger generations have an unfavorable view of Capitalism.
As a poor worker, whose known other poor workers doing big jail time for something as small as selling small amounts of marijuana, just to survive or other petty crimes I cannot watch this. It makes my blood boil.
For sure just like Biden’s bunch of crooks setting pretty in corruption but look down on us hard working class f..k them assholes!!!
Are you one of those poor people with an IPhone and air conditioning?
@@yankees29 he is talking about people committing crimes and getting away w them meanwhile, a petty criminal who now in most states MJ is legal can't even find a decent paying job because of being punished. How do you equate that with affording an iPhone or air conditioning?
@@yankees29 corruption is running g rampant but you're trying to flex on a guy who is telling you he is struggling, and you try and chamge the subject of what he is taking about? Wow! Your comment isn't the flex you think it is.
@@theboldandthebeautiful3729 that sucks for him I guess I don’t really care because I’m struggling myself. That’s life .
28:10 "I truly don't remember" - You go steal cookies from walmart, you go to jail, even if you don't remember. You steal billions and you dont remember, nothing happens. Screwed up system
This really disrupted my family and I. I can honestly admit that this still gives me nightmares and runs through my mind every week.
not me ,, i am having exciting times , i bought all those stocks in the 2008 crisis for pennies
@@benjaminpauldimedio1683 based
A family friend of ours was an underwriter for Countrywide and when she tried to speak up about people being approved for loans they couldn't possibly afford, she was told in no uncertain terms to sit down and shut up and not interrupt the revenue.
I had a friend who worked at Countrywide in 2006. She couldn't take it, she tried to tell me about it at the time but I couldn't even understand what she was saying. Fast Forward a couple of years and it suddenly all made sense.
If they were held criminal liable for fraud it would have been the first step in fixing the corruption in our country.
Every time I think of 2008 I start drinking, thanks autoplay it's 7 AM.
Great job with quality journalism.
Person in Federal prison: I should have been a wall Street banker like momma and my high school teachers suggested.
Ha! Good one!
I thought this was new until I heard the narrator say "4 years ago in 2008". Frontline you got me🤣excellent work as always💪
I was surprised at how young one of the guys looked to be involved in the financial crisis. Then realized this was 10 years ago lol
"In mortgage underwriting, somehow we [the bankers] just missed that home prices don't go up forever." What a horrible person.
"The Untouchables" sounds like a really thought-provoking title for a documentary! It's wonderful to see documentaries like this that delve into important topics, providing insights and educating viewers. Documentaries have a unique way of bringing complex subjects to life, engaging our curiosity and understanding. It's exciting to think about the kind of discussions and awareness a documentary with such a captivating title might spark. Learning and exploring new perspectives is always an enriching experience! 🌟✨
Why is it unreasonable that a waitress or waiter would make 10K a month (120K a year) while an executive would make 20, 30, or 150 million a year? What could an executive do that is worth that much?
They conduct the orchestra. Everyone else watches the show.
Is not unreasonable but unusual, and thats the essence of the fraud. They will give lons to people who would lie on their income. So many bad loans is what caused the bubble. But it wasn't the person getting the loan, it was the lenders who just gave lons away and then turned around and sold those bad loans.
Executives generate revenue. Waiters and waitresses do not.
I remember when I went to get my mortgage loan. I was approved for a 178 thousand dollar loan. After talking to my parents they told me stay away from an arm loan and demand a fixed. When I went to the bank to get clarification on the structure of the loan the loan officer kept beating around the bush. I pushed enough until he told me it was an arm loan, I demanded a fixed and at that point he scrapped the loan and only approved me for 80 thousand.
Can you explain what an "arm loan" is for those who dont know that term
@@ryanadams0922 adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically. This means that the monthly payments can go up or down throughout the life of the loan. Generally, the initial interest rate is lower than that of a comparable fixed-rate
@@tranger4579 thank you. Last question wouldn't a fix rate be preferable over that of adjusted rate?
@@ryanadams0922 definitely. Especially over the long term. My brother in Austin Texas locked in at a 1 percent on a 400 thousand dollar home 2 years ago on a 30 year. The thing with an ARM is they can offer you a 3 percent then the markets swing and next thing you are paying 8 percent. Id rather have the piece of mind knowing I'm locked in at 4 percent vs 2 and then have that 2 change to a 7.
Well, I hope it worked out well for you. The $178K ARM was bullcrap, anway.
I really appreciate this channel. I can't believe it actually free.
Frontline Documentaries are Top notch , Legendary the gold Standard ! 10/10
2008-2022 Fourteen years and instead of being behind bars these people at the top are now much wealthier than they were then. I marched with Occupy Wall Street knowing in my heart that we were a big joke to those guys. Untouchable for sure.
Hillary had her private chat with them in 2016 just prior to the election. No one will ever know what shady deal she was making.
Marching won't. Change anything I'm afraid that's why I don't protest all it does is get you jailed at best with a polce record the police are there to protect the CEOs and company board from you
Hahaha yeah, Wonder how many new,1000.00 suits they have lined up in the 200squarefoot walk-in closet,along with emlida Markos man shoes and blet's,dress shirts, n many drycleaners receipts from New York manhattan cleaner's, hahahaha,mmmmmm, what about eating out at the most expenseive restaurants, mmmsure at that time they ran into ex president clown Trump. . . That how the rich get Richer n wealther. . . They sell you a bottle of water for 10.00, n their cost is 4 pennie's at there cost. Profits r high. Inflation now, I think Isa ponsey skim now. More money in there bank's,so along that went on with just this last summer of 2022 with fuel at 5.50 gallon gas..........what I did was I spend alot less on gas, I didn't fill car up. I toke bus to work ,also rid bike. I never buy bottle water. . It's a joke. Also, I work in as a contractor, mason, landscaper, I kill myself to earn the american dollar. These men r money greedy hedgehog PIGS........... selfish, mental illnesses of that they will never be happy with millions,unless there r billions n, on n, on... Til the universe sucks them into the Black holes in the universe. I hope that they could see the txt message in there face.
Tell it Frontline. I've been with you for almost 40 years, best journalistic entity ever.... Love me some public broadcasting system
Thanks gang great, I dropped out of high school about 40 years ago and I've learned more from this program that I have learned from any other source just beautiful journalism in our pool pot let's kill history society and makes me sad that more people don't watch
That would've been polled pot but apparently Peerman now it is not be recognized
Polpot And if you carry and pictures of chairman Mao… I hope you understand my drunken ramblings because he would've had any executed for wanting to know the truth Trump
I wouldn't be surprised if Frontline was payed off after learning a bit too much, and created the show as more of a detour for other theories they don't even want circulating.
It's ALL that's left of the "Fourth Estate". Fortunately it's also the BEST. PBS carries the load!
Thanks for this content God bless you
Quality ,insightful investigations,most informative.consise, report I have seen.thank you.
The Fed: “We have thoroughly investigated our benefactors, yet we have found only scant and woefully insufficient evidence of any wrongdoing.”
Lenny Bruer no different than Bob Mueller and Cy Vance. Protect the rich by running the equivalent of a judicial 'catch and kill' shop.
soon, the central banks will introduce their own digital currencies called CBDC and all of the worlds' CBDCs will, to some extent, be connected. Other digital currencies will be outlawed, They are talking now about regulating other crypto coins. But, until they have it all, they'll never be happy. The UN/WEF/IMF are huge parts of the NWO/New World Order. On IMF's website, they openly say that other central banks are their members and the IMF site and YT channel openly discusses those CBDCs. They also discuss going cashless - meaning every single financial transaction will be tracked and can be controlled. Its not a conspiracy if it is all on their own websites and channels. i've had to watch and read for hours, but, behind the talk of this perfect world they plan for us is pefect control of us
The Fed a private Bank owned by Rothchilds and Zionists profit from it of course they wouldn’t find any wrongdoing
We are, unfortunately, living in an era where corruption runs rampant through many of our institutions. The FDA, FAA, Congress, etc. It's very sad and disappointing.
That's always been the norm.
In 1604, after Kepler's Supernova, the navigator plotted the woman's escape to the wilderness -- the Virgin went to Virginia. The dragon followed and by our Civil War, was thoroughly entrenched in both Church and State. Final judgement for the devil and dragon is 10/12/26. Daniel 7: 9-14. Don't expect to "SEE"anything -- men and women never "SEE" anything. That's NORMAL. It has always been this way. Epochal Eclipse April 8th 2024. Matthew 16: 4 Jonah 3: 4-5
I don't think that to be true. Democracy takes faith in a belief that if you work hard and have a basic respect for your fellow man. And your computer literate just a little smart. Everyone will be all rite. Show empathy, and kindness with all humility. And generous when possible.
Oh ya ,taxes are the price we pay for civilization.
I think you fail to understand capitalism. The banks lended out the money , held on to the loan about 1 1/2 years . Then bundled them and sold them as low risk loans . The grading companies not wanting to lose the business from these banks , went along with this scam . When investors purchased the loans , they thought they had long term low risk assets. When the market collapsed, whoever got caught with these junk bonds took the loss. The company’s did get fined , but nobody went to jail . They pleaded stupidly. And you can not put a company in jail . THAT IS TRUE CAPITALISM . Blame Ronald Reagan and the Republicans for the Deregulating the financial industry in the 80s .
glad your posting to youtube. alot of young people consume and learn fast. good they have this. when they want it. you go down rabbit holes and can learn lots. like i am. although seen most of this. makes me happy
Jobs will pay your bills business will make you rich but investment makes and you keep you wealthy the future is inevitable, I pray everyone here becomes successful
@Hart Thim You're right, it's obvious a lot of people remain poor due to ignorance
I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings
Starting early is the best way to getting ahead of build wealth, investing remains the priority
Obviously trading in bitcoin is very volatile and risky to trade that's the reason most traders trade with a company
Now is the best time to purchase and invest in Bitcoin stop procrastinating
This entire reality we are forced to participate in is nothing more than one huge grift.
What untouchable for most of us is 19th level of hell. 19th level of hell is deeper than 18th level of hell (according to Buddhism there are only 18 levels of hell). In 19th level of hell, a soul is tortured in the most extreme pain, beyond all perception, beyond the universe, and beyond eternity.
@@twks123 Sounds bad.
@Sheerluck Holmes And how many emanations can dance on the head of a pin? Come on, let's not get deep into theological nonsense.
Money created out of thin air = no discipline.......that is the problem.
@@StockIndexFuturesALGO A house of cards.
Kareem Serageldin (born in 1973) is a former executive at Credit Suisse. He is the only banker in the United States to be sentenced to jail time as a result of the financial crisis of 2007-2008, a conviction resulting from mismarking bond prices to hide losses.
You watched the Big Short too !
Could they have audit the politicians as well as Wall Street to see who made profit or received kickbacks? Just sickening
i was taught at a young age, never trust any bank or the r.c.m.p.!
In 2001, I applied for a home loan making $60K-$70K. After my approval I was asked "HOW MUCH DO YOU WANT". I said $200K. They gave me $250k. I should've asked for $350k and bought some rentals.
My parents were impacted by this, our house got foreclosed on in 2006. By then I had already graduated and all the kids were thankfully out the house. I graduated college 2009 when we were finally starting to somewhat recover and even then some of my fellow graduates weren’t getting jobs or had to start jobs later. What a crazy time to start my adulthood.
Well thats the curse on us millennials
It's funny how the "justice" department gives the tired old spiel about "beyond muh reasonable doubt" when they routinely and regularly railroad people for far less serious offences with far less sometimes no evidence merely due to the fact that those defendants never paid them off.
@@sumitshresth They don't care about the plight of millennials. We just have to suck it up! We're on our own until the baby boomers and their parents are no longer in power.
Many graduates never recover from graduating into a recession.
Join the Service. Get a grip and keep moving forward.
Investing in alternate income streams should be the top priority for everyone right now especially given the global economic crisis we are currently experiencing, Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
Starting early is the best way to getting ahead of build wealth, investing remains the priority
@@claresmithy4667absolutely 💯
Crypto currency will outsmart the banking system in the nearest future serving as a global fiat. Already making over 85% of my investment
I advice everyone to start investing and never rely on just salary. No billionaire made it through salary
Having a job doesn't mean security rather having different investments is the real deal
Sometimes you have to fail to succeed, Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks..
I keep wondering how people earn money in financial markets, i tried trading bitcoin on my own made a huge loss and now I'm scared of investing more.
@@bjoe631 That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin and stocks. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
@@Florencecoxx You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe?
Wow I can't believe you guys are discussing about Gary Mason Brooks , I once met him at a conference in California 2019, just before the pandemic. I can testify that he’s very good in trading..Highly recommended.
Zero-accountability equals zero democracy.
Zero justice.
Well..The West especially 🇺🇸.gov is oftentimes so proudly "advertising" its versions of "DemocRacy" as Freedom of everything that other's elsewhere wouldn't have the privileges to have which included Freedom to Robbing Others "Legally & Allowable" Bi the 🇺🇸.gov Justice's systems as shown..I was not surprised at all..Just like I often said 🇺🇸 is Truly the Lands of Narcissists & Opportunistics..🗽..No wonder it is sinking just like the "Titanic Shrinkable"..😑..
@Sheerluck Holmes Capitalism is the worst system in the world, next to a couple of others that are next socialism, which is THE worst. Why do you think the NWO pushers want to move us FROM capitalism TO socialism? Because it's the most easily controlled by it's leaders. Capitalism, with all it's faults, is ultimately the hardest system to remove the last freedoms from. Socialism STARTS with the removal of basic freedoms, which is necessary to implement it. It requires the same power that a dictator or King has, and all property owned directly by the state. Don't worry though, we're almost there if you still want socialism. Just 1 or 2 more planks to install, and you can have your UBI which will be paid to you in worthless inflated money, that will barely cover your rent. And if you think there's a perfect system, one which won't or can't be abused, you have a long, long ways to go in understanding the world and human beings.
For... YEARS? DECADES? CENTURIES? Depends on who you are and which CASTE you were born into.
@@jameseverett4976 I don't want socialism but I sure as hell want HEAVILY regulated capitalism. I want law and order. I want justice for corporations that are robbing us blind. I want inflation to be controlled. I want to be able to afford a healthy dinner for my kids. And before someone says "well get a job", I DO HAVE A JOB! I'm a full-time nurse and my husband is a high school teacher. We work like dogs yet can't afford to buy a home or repair our vehicle. Enough is enough. And this isn't about politics either because EVERY politician regardless of party is a crook and only looking out for themselves and their donors.
As always great quality journalism by PBS. This basically highlights that Justice is not equal for all; never has been. Wealth creates power, that same power writes the laws all others live by. Greed has been driving middle class into the poverty line for decades.
Totally true.
🙄😒this is what the English came and established on Turtle Island, though. A nation of ghettos, corrupt govt, and violence; in every tax bracket.
As a veteran I am so appalled with the corporate worship and double standards in this country. The majority of our companies have some type of criminal record and those companies are run by people who are in fact criminals themselves by propagation of these activities. I haven’t officially renounced citizenship but I’ll take the firing squad before I fight for it again.
I disagree. The premise of the 50+ minute broadcast is the fascination with the belief that justice for some "mysterious reason" escapes us. In reality, none of that is quite true. The people who created this show simply omitted the explanation. It is something that I learned as a kid simply because I lived within a 10 mile radius of Wall Street. The trouble arises in the legal system's definition of a "market maker", an entity who is legally protected to transact according to different standards than every other market participant. "Market makers" do appear to occupy a position which is inherently corrupt by definition.
Yeah sure.. By re-uploading a 9 years old piece of content... They just trying to squeeze a few pennies out of their catalog...
I bought a house working at pizza place delivering and managing with a girlfriend that was a field accountant for a construction company. After 4 months I moved out and left the keys in the mailbox. Ignored every debt collector for 7 years.
When it comes to the world of investing,most people don't know where to start.Fortunately,great investors of the past and present can provide us with guidance...
hector A Christiansen is an expert,he is really good and everyone loves his genuine services,he has helped me recover what I lost trying Initially | have lost interest in Bitcoin trading and investment platform,I was watching video on KZhead,l saw many people giving testimonies about Mr hector A Christiansen...
Bitcoin trading is one good way of paying bills also create opportunity for crypto believers...
Life was hard for me until I started trading Bitcoin and am now earning $19,435 per week..
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My first experience with Mr hector A Christiansen gave me the assurance that has made me to invest without fear of loosing
Once the corporations were given "person-hood" it was OVER as far as any accountability. There was a time LONG ago when the corporate board AND shareholders could be fined but today it NEVER HAPPENS. The idea that the FBI and SEC would EVER do anything to the oligarchy who OWNS then is hilarious....
True
Did you notice what the FBI got out of this, as soon as obama came into office? This was all orchestrated over several years, with the planned outcome, payoffs, and alabi's to shift blame, and rake in mega profit's for the political puppet masters. And of course some relative "crumbs" for the politicians, but probably payments over time so they wouldn't look suddenly rich. It was a move similar to the culling of 1929, and the 2 world wars, where companies sold weapons to both sides of the war.
@@jameseverett4976 true. This is not something new. As you said it's all theatre planned years in advance. Just bad soap opera. That's why they didn't give them Oscars, I guess. Maybe the next generation will get so fed up that events might change for a time. I'm 72. Been watching the transparent bs for 50 yrs. From both sides. Nothing to see here.
@@jameseverett4976 Completely possible as we started seeing bubble after bubble with the Fed....hmmmm. Oligarchs in the US actually got rich off the 1929...you can do that if you have fore knowledge...
@@snsm6730 When business controls and buys everything what do you expect? AOC and Sanders are nothing more than Social Imperialists. Socialists in name only.
Open eyes, full blast exposures, excellent journalism PBS Martin running to the winning zone with this episode.
Great documentary!
Incredible no one has been held accountable.
government and Wall St. are ONE.
They should’ve prosecuted and let the jury decide .
Great documentary.
CEO's and corporations are the new royalty - Above the law and above the rest
The job of the prosecutor is to pursue justice and not to worry about the banking system. It's like, not going after a crime, but more worried about the welfare of the criminals
This is the justice system in North America period. You can do anything you want to people if you wear a suit.Lies are truth, scams are legit. No suit and it is fraud, you do jail time.
Our judges judge for the HIGHEST BIDDER. Our Prophets prophesy for HIRE. We the People have proven that we are liars, cheats, thieves, and murderers. How can we be trusted to govern ourselves? ONE LAST CHANCE: Epochal eclipse April 8th 2024. Matthew 16: 4 Jonah 3: 4-5, 8
Only them know the system
@@newyorkcity76 The goal of every banker is to put his competition out of business. This is the way capitalism works. Its a game that the rich play among themselves and we don't count.
49:26 "The jobs of tens of thousands of employees can literally be at stake.'" To me, this is the heart of it right here. Assistant Attorney General Lanny Breuer does a lot of hand-waving and circle speak throughout the interview, but he ultimately gives this as his justification for not pressing charges. Essentially, he's saying that he believes there's so much corruption in the financial sector that any attempt to prosecute it would be a catastrophic for the economy, so... let them do whatever they want?
Yes, but when there is no accountability, then people in similar positions will inevitably cause another worldwide economic crash that will cause even more job loss. Th best time to put in meaningful reform and prosecutions in Wall Street is not during economic collapse, but during economic stability. This way, the *relatively* healthy economy can withstand turbulations in the stock market
elsewhere it has been said this was a legacy of Holder, originating in a memo written when he was in the Clinton government, which became "policy" under Obama
Who gives a fk about tens of thousands of employees when the whole economy collapsed because of them
@@jalalal8056 and probably millions of other people (outside finacialization) lost their jobs as a consequence of bankrupcies and attrition policies
@@jalalal8056 do you blame the dummies who got the loans or the idiots who approved the loans?
Thank you!!!!
That's why politicians fight so hard to keep there seat to defend this type of crime and who they arrest the lil guy.. Bunch of cowards.. This was a crime. It was intentional...
This still makes my blood boil.
The good news is that Covid is cryophilic. Bush was supposed to be a TRUE CAPITALIST and Let the Banks FAIL! THEN, when the riots began, Bush was supposed to declare martial law and suspend the election. McCain would have become President, and the US would have already bombed Iran. Know what Bush said? "I did not want to set that precedent (suspending elections) as President." Know what Trump said? "Blame Bush!" Bush does NOT understand WINNING!"
Yes...all this thing is disgusting 🤮
Me too
It makes me so mad I want to squeeze my peepee that’s how mad it makes me
Me too
I remember I lost my factory job in 2008 it was really hard for me to find another job because of the recession in 2008 I always wondered why so many people were losing their jobs this documentary just answered my question this makes me really upset.
"If they can fog a mirror, we'll give 'em a loan." So eerie
At the very least, the rating agencies should have been held liable. As their deliberate deception was at the very root of this bubble.
Nasdaq and the Dow Jones are members of the WEF - as are the BigBanks and most big companies. Conflict of interest? nah - they don't care about us and, since we still buy their crap, we don't care about us, either.
all of the rating agencies were involved and complicit in the scam . they rated garbage investments as AAA so they could get kickbacks . all evil scum
It defies logic that they get bail outs instead of prison
pretty ironic right
@@hector5749 Definitely
Ah ha........WHO's logic? Ours or their's?
and we get shit &;have to pay for it
They need to go back in and investigate it thorough because it is misconduct of behavior and obstruction of justice on what is not being addressed
Good Lord that Countrywide logo and Commercial, I instantly remembered that from when I was a kid watching TV. Holy cow it's amazing how many of those ads ran for me to remember that because it was on all the time and it's been probably what, 15+ years?
The destruction this caused was no laughing matter at anytime
Greed is not necessarily a crime unless you are poor and committed it !! Truth + Wisdom = Peace ✌ 🙏 🙌
There's a funny joke that says if you borrow $1,000 from Bank you owe the bank $1,000 if you borrow $2 billion dollars in the bank the Bank owes you to billion dollars
Which CASTE were you born into?
Borrow $33 trillion / Blow it ALL up = Peace and Prosperity did you spot the error? dividing by zero
Corruption is a crime, right??
Yeah… they’ll arrest you for stealing food from a store but they won’t arrest you for committing crimes on Wall Street… rich assholes committing fraud but it’s not fraud… it’s something else.
devastating earthquake and tsunami struck Japan on March 11, 2011 triggering a crisis inside the Fukushima Daiichi nuclear complex. This 2012 documentary reveals how close the world came to a nuclear nightmare. Touchable
People in power protect each other while the rest of us have to live with our choices? Shocking!
Thank you for exposing these criminals who get away with crimes...your a great show..please never ever stop
Criminals ? you are being anti-Semitic ..FYI: it's EXTREMELY ANTI-SEMITIC to criticize or raise the awareness (or even think or talk about) " The Untouchables" ...
This documentary fails to expose the very top Nation's REGULATORS who let open this window of "Every American deservs a Home" campaign. If The Nation's leaders wanted this to be so. They should have built budget homes and given them free. By letting the housing for all be run on an 'OPEN MARKET' they let the Financial Engineers play their GAME of "Multiplying MONEY with NO BAR'.
@@cinemaparadiso5402 Treaty said nothing about the ethnicity of the so-called "criminals". You are being extremely thin-skinned. Either that or you are being sarcastic. Which is it? This thread shows as having 3 replies but I can only see the one from Cinema Paradiso. Please forgive any ignorance I may have demonstrated, the full story is being denied to me by YT.
@@kiwitrainguy This documentary clearly covers a Semitic industry and Zionist business values and practices .. call them criminal is extremely anti-Semitic
@@kiwitrainguy You can get around the algorithms by using sarcasm.
There’s nothing worse then watching your parents lose their home & business. My brother-in-law was his partner. My sister & her kids lost their home of 25 years too. Neither my parents or sister bought a home they couldn’t afford. My sisters house was a fixer upper they bought just after they married 18 years ago & I grew up in my parents house. They built grocery stores; Ralph’s, Northgate & Vons. There was just nobody building grocery stores or literally anything else after 2008. And nobody was hiring. The business was 38 yo. I’m a Dir. of HR so for the first time in my life I was unemployed also. It was terrifying to watch my parents as an adult lose everything & there was *nothing I could do* I still have nightmares about it.
"Nothing worse..."? Oh, there's plenty worse.
@@nonnobissolum Some of us have had to work for theses thieves.
@@kimobrien. having nothing to do with the comment that I made but whatever floats your boat.
@@nonnobissolum I don't know but somehow its hard to believe they lost everything although I did meet a homeless guy who claimed to be a Wall St stock broker.
I honestly don't understand your parent's situation. I thought the whole debuncle was about people taking out 'floating' loans and then the banks kept raising the 'floating' interest until people could not make the bank payments. Wrong?
Someone should make a movie detailing these times entitled "Legal crimes."
great doc
I just bet that if this were prosecuted under a jury all of these criminals would be in prison.
from 50:00 to 50:50 is exactly why i love to watch these pbs docs...the guys in the editing room make this entertainment. I have to raise a glass to you guys in the frontline editing office: to calra, frank, erika, raney, dan, andrew, lauren and everybody else underneath...many thanks and cheers on a job well done!!!
@Legalize Raping Russian Broads In America ahh, yes there it is, I was able to link into your cpu and see it's serial #. Ah, there's it's location.. go get em' boys..
@Legalize Raping Russian Broads In America how are you not deactivated yet? Hope it helps when I report you. Actually, if I report for child abuse wonder if it gets sent to authorities?
See 5045 It's not the job of the Prosecutor to worry about the banks. 😆😆😆😎💪
А задние Б/У шные у вас тоже есть?
Thank you for an amazing coverage of this love you guys Frontline!
I was a POC, WITH EDS and BOA, and a VP friend of mine said he took over the Country Wide segment and I said, I’m in IT and your banker that don’t sound well, later it was hard to handle those loans with the bank.
i love the end of Goodfellas. as the mobsters are being rounded up one of the off camera mobsters taunts the law enforcement officers: "how about you guys go down to Wall Street and get some real fucking crooks."
🎯
The wealthy and well-connected operate under their own system of justice.
Couldn't agree with you more, Emily. But if we the common folk do what these deviant bankers do (still to this day), we would be put in prison. I CANNOT stand the hypocrisy and the constant double standards these shits do themselves. I guess it's safe to say they are Untouchables in this cold and dark world. My blood is rapidly boiling on this subject.
@@michaelstevens2027 It bothers me greatly as well. Here’s something else. The ultra wealthy and corporations essentially write the tax code by funding politicians’ campaigns. This has the effect of expanding the wealth gap.
@@EmilyTienne Again you are correct. I mean damn, will this standard of practice ever end?? Emily, I am not so sure if I live in the United States or some other marxist type communist country. This is just like electing either party (Republican or Democrat) to any office and does nothing short of drinking coffee. It must be very nice to be ultra wealthy and literally enjoying life...while we, as common down to earth folks has to continue suffering at the expense of these wealthy fat cats. I live in the state of Ohio and it's the same way here. If I could I'd move to Amsterdam and try to be happy and not want ANYTHING to do with politics and politicians in general. They do nothing but continue to fuck things up (on purpose) every/any chance they get. It just enrages me to my very core. Sorry I got a bit long winded on you there, Emily.
Yes. The world not meant to be equal..previlege is eh ladder by connection
@@blaquentgruppe6547 The world was not meant to be equal EXCEPT it should be equal in matters of justice. Get over it, elitist.
Education,Thanks.
The all situation gave a big punch in people's trust in public institutions and today we are seeing the results. These things have ripping effects.
There was blame on the buyers too . In 2008 I made $40,000 . My neighbor in the apartment I lived in said I could buy a $200,000 home for $200 a month for 2 years then sell it to buy another . I new better . Alot of people didn't. Yes the homeowners were to blame too . My neighbor was a mortgage broker . I said if that's true why do live across the hall from me .
This!! Takes two to tango however, much of went on was very predatory.
Agree, Homeowners are entirely complicit in this whole mess. They paid the price by losing their homes but the bankers not so much
It's 2022, I lost everything back then, and have never recovered, all I do now is work to survive No options for retirement or an own home just survival, and every year there are months where it's wretched. These guys will keep getting richer and the middle class will be eroded,
Why did you apply for a loan you couldn’t afford to pay back?
@@TheVoiceOfReason69 because owning a home is the American dream. Unfortunately and stupidly i would have might have done it too i didnt even know you could apply for a loan at that time and get approved.
Damn this is crazy goes too show it's always something going on behind close curtains good or bad.
I love how the CEO of Goldman talked about market making activities
As someone who was financially ruined by this activity I am insenced that they walk free while I , like thousands of others have to scrape by
This is the end result, in my opinion of Free Market Capitalism, ie under regulated organizations who have never been held accountable. The government is so intimidated that they do nothing beyond hold ing bullshit hearings and investigations that even clear criminal content does nothing to pursue justice. What does this tell you about our ways of both doing and overseeing business in this country? Personally, I will do everything I can to help Bernie Sanders take office. The coyotes have been running the chicken coop for too long.
@@jonathanstickel254 well said !
I scrap bye, it's not easy,l have good days n bad days.well they have to look at themselves in the minorr, how ever when they brush there hair,n brush teeth. They affarid to possibly look at themselves minorr n think ,well I'm a con man, I have a metal illness with high money lifestyle. I've seen this with other's in my lifetime of, friend or two. I work in a small self, employed landscaping business, I earn. Like, 12,000.yearly. low income for these modern times. I'm not into being a capitaust at all. It's simply not healthy to think about high money lifestyle. It's almost similar to what drug dealers do for a living. Sell lots of drug's on streets or how ever n where, there minds r demonized....of high stacks of MONEY in there hand's. Money does not buy happiness. It's only can get you into troubles,one after another. The devilis r out there.
In Iceland the bankers went to jail. The government was fired and new elections were held. In America we gave them the bail out.
That’s great for the 200 people that live inIceland I guess.😊
10 years later... Still no. Not a single one.
"We couldn't prove beyond a reasonable doubt that a crime was knowingly committed" said while literally wiggling in his chair from guilt. How can you not prove a crime was knowingly committed when they were literally placing public bets that their own deals would fail?
Maybe instead of a criminal case against the bankers, the US government should've brought a civil suit. Instead of the burden of proof being "beyond a reasonable doubt" it becomes "the defendant is PROBABLY legally responsible." Even if there was a verdict in a criminal case, it'd result in a fine (a laughably small one at best). If there's a civil suit, the US gov't (on behalf of taxpayers) could sue for billions in order to plow under a bank or two to send a message. Besides, in today's world, justice only comes in the form of financial deprivation.
Hit these 'Masters of the Universe' where it really hurts, their wallets.
@@thetruthwillsetyoufree9209 A revolutionary overthrow of the capitalist system is what is needed.
That is a great idea except the people that caused the 2008 crash was the government, mostly a man named Bill Clinton that signed the bill that caused the crash. The bankers were just the players. This is like blaming the kid who burns the house down next door after his parents buy him a flame thrower. We have (HAD) something in this country call rules and regulations, you should learn something about them!!!!!!
@@thetruthwillsetyoufree9209 once the US Govt realizes that supporting this banking system is no longer preventing but encouraging anarchy, watch how fast they'll turn on Wall St.
You ignored the fact that it was systematic failure. The borrowers, the mortgage companies, the wall street big guys are all committing the crime, what’s more, the law makers, the government agencies were ultimately responsible as they are supposedly be the controller and protector of the public. But so far, the government is still not showing any sense of responsibility for the failure. And public kept blaming the bankers.
"The Big Short" is a nice movie about this, I really liked it. Really absurd that no one is in jail for this, yet in some states of the US you get a life sentence for your 3rd drug related criminal offense.
ofc it's obvious smoking a joint is far worse than swindling billions of dollars from poor people
That guys argument every time is :"well, i dont know who youve been talking to but...
I always wondered what 2008 was all about . This went a long way to get a reasonable picture.
I’m starving and these bankers look like HOT FOOD. Counting down.
Corrupt at the highest levels!
Corrupts and cover up
lol Do What Thou Wilst.
The US is the best Government “money can buy”!
Yes" the corruption starts in the white house !!!
Sad but true: If one has enough money and power, one can get away with anything.
Eliot Spitzer coming onto Frontline like some pillar of virtue is RICH. 🤣😂🤣😂🤣😂
Amazing investigative reporting done by Frontline. Appreciate the content