Watch The Untouchables on PBS. See more from FRONTLINE.
In "The Untouchables," Frontline investigates why Wall Street's leaders have escaped prosecution for any fraud related to the sale of bad mortgages. Are Wall Street's big bankers
In "The Untouchables," Frontline investigates why Wall Street's leaders have escaped prosecution for any fraud related to the sale of bad mortgages. Are Wall Street's big bankers untouchable?
Producer Martin Smith joined HuffPo Live on Tuesday to discuss his investigation into the lack of prosecution of Wall Street executives for any fraud related to the sale of bad mortgages:
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," Smith told HuffPost Live host Jacob Soboroff. "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."
"It was like a party," one former loan underwriter tells Frontline's" Martin Smith. "We were getting through these loans as quick as we can. They were not being looked at like they should've been looked at."
Big banks, bailouts, secret bailouts, the defective and even fraudulent mortgages that have already led to foreclosure on millions of American's homes; finally, a mainstream media news source is asking why none of the companies involved - or their executives - have been prosecuted. Read more...
MSNBC's Cenk Uygur talked to Rolling Stone's Matt Taibbi about his new article on Wall Street and the revolving door preventing any of them from being prosecuted -- Why Isn't Wall Street in Jail?: Read more...
Watch The Untouchables Preview on PBS. See more from FRONTLINE.
The PBS Frontline investigation "The Untouchables," airs on Tuesday, January 22, 2013. Frontline investigates how more than four years since the financial crisis, not one Read more...