Prosecuting Wall Street, pt. 2

Two high-ranking financial whistleblowers say they tried to warn their superiors about defective and even fraudulent mortgages. So why haven't the companies or their executives been prosecuted? Steve Kroft reports.

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News & Politics

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• wall
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• whistleblower
• finance
• financial
• mortgage
• companies
• crisis
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• cbs
• 60 minutes

[mickeytuf]

Sorry ----but I'm not surprised by the reported information about the mortgage meltdown, and Citibank and all the C.E.O.'s still walking around free from any prosecution, thumbing their noses at the Justice Dept., while collecting massive multi-million dollar salaries and performance (?) payouts. This is just ONE example why OCCUPY groups are in existence. The billions of TAXPAYER DOLLARS diverted to bail the banks, and Wall Street out of their incredible arrogance and stupidity are a waste!

[LTChu]

I wonder if we are to "stay tuned" to more show trials featuring low level scapegoats for bread and circuses, like in the 1980s. Whilst the lordly captains of these big fat corrupt leaking ships, full of tail risks they all didn't wanna know about, steered to the iceberg. Then shoved the wives and children out of the lifeboat to make room for themselves and their entourage.

[Outback4Me]

The assistant attorney general is full of crap. I voted for Obama because he was about change and he has proven himself more mentally challenged than all the Republican Presidents we have had. He has sent a clear indicator that he has no intention of making anyone pay for the amount of fraud that occurs on a daily basis, which just encourages more fraud. If you could go rob a bank because you were sure no one would ever make you responsible for your actions, would you stop robbing banks???

[bkrashed]

@aikanae1 Exactly! There are no alternatives since it seems every politician has their hand in the till with the Wall Street boys! This started with Reagan and his "trickle down economics" ponzie, followed by Clinton repealing the Glass-Steagall Act, then Bush continuing to turn his head away, and finally Obama with his do nothing about the Man on Wall Street. It just shows how deeply corrupt this country truly is, we are no different than any of those we criticize.

[aikanae1]

How can we have any economy when corporations are given a free pass to lie to it's investors and congress? No business or trade organization should be allowed to become "too big to fail". That's why single payer was taken "off the table" before debate was even started - health insurance companies were considered 20% of the economy. Huh? My health is between me and my doctor. Insurance has nothing to do with it. They need to go too.

[aikanae1]

@bkrashed What were the alternatives? McCain was involved with the Savings and Loan crisis a decade ago. Trillions were handed out to financial institutions with no strings attached by Bush. Obama added strings and pay-back. Everything he has attempted to do has been blocked by the party of "no" in congress. Even the consumer protection agency, which passed, has been blocked by fillabustering ANY head of the agency.

[aikanae1]

@damania It's lesser of the evils - do you think McCain/Palin would have been better? If so just google the Keating 5 and the savings and loan fiasco. McCain narrowly escaped being the "6th" - largely because he was given a free pass. This has happened before.

[aikanae1]

It's a dual system of justice.

[AhhCulo]

@damania exactly! One major reason these C.E.O.'s are not being prosecuted is collateral damage, aka reps in our government that are involved. The trail leads to a lot of them. And people vote them in anyway.

[mphello]

@damania Not I. I am a Green party member, and if there are only Republicrats and Demopubs on the ballot, each year, I write in a name. Otherwise, I vote Green, World Workers, sometimes Libertarian.

[damania]

What's the matter with you people? You keeping voting in the same schmucks and when the crap hits the fan, you play the role of victim?

[bkrashed]

President Obama, Eric Holder and the DOJ need to be held accountable. I remember Obama's platform..."Help the man on Main Street and punish the Man on Wall Street!" Really, really...really? Let's see, punish the Man on Wall Street and put them in your cabinet, and help the Man on Main Street by allowing banks to charge 29.99% on credit cards and give you 0.01% on your money. Thanks for the help, I think I'll pass this coming election. Now to decide which crook is the lesser of the two evils!