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.
The government won't prosecute because it was the Fannie/Freddie business model that Countrywide and Citigroup were aping. The government oversaw and exempted all of it, from securities oversight.The regulators aren't up to any substantive rethinking or protecting the nation from anything new. The rules they do have aren't worth the paper they're printed on. DOJ is also scared. The smartest lawyers all work for Wall St. And Obama doesn't want to rap his Wall St bros who finance his campaigns.
It is an outrage that the Big Banks have not been taken to court - enough is enough Justice Department - ppl r dying, suffering, homeless, starving all because the rampant greed culture of this country has destroyed the 99%. Where is this federal investigation? 3 years this woman fought for her back pay? GEEZ what about the fraud? What about the PEOPLE OF THIS COUNTRY?
@Guinda35352000 I know, I know, it's hard to believe that there could be one tiny group of people who are behind just about every financial conspiracy that exists--and that has ever existed. And that this one tiny group of people has been able to plant their people into the leadership of every political, financial, and media company there is. But maybe that's why it seems so unbelievable, because they've managed "reality" for us throughout our lives and throughout history.
DOJ's lanny breuer is soooooo jew!
here's your problem, america.
gopinggop 2 months ago
Martha Stewart went o jail for nothing compared to these guys.
EngineeringFun 3 months ago
Hey You Smug Banksters! you cant buy everybody off! sleep on that!!!!!!!
vicarofrevelwood 3 months ago
The government won't prosecute because it was the Fannie/Freddie business model that Countrywide and Citigroup were aping. The government oversaw and exempted all of it, from securities oversight.The regulators aren't up to any substantive rethinking or protecting the nation from anything new. The rules they do have aren't worth the paper they're printed on. DOJ is also scared. The smartest lawyers all work for Wall St. And Obama doesn't want to rap his Wall St bros who finance his campaigns.
LTChu 3 months ago
at least they recycled...
jaysonyagi 3 months ago
It is an outrage that the Big Banks have not been taken to court - enough is enough Justice Department - ppl r dying, suffering, homeless, starving all because the rampant greed culture of this country has destroyed the 99%. Where is this federal investigation? 3 years this woman fought for her back pay? GEEZ what about the fraud? What about the PEOPLE OF THIS COUNTRY?
Sagehorse 3 months ago 2
@Guinda35352000 Your comment consists of three words. If you read them again you will realize you've said nothing at all.
bagginshates 3 months ago
@bagginshates
Facial features? Wow!
Guinda35352000 3 months ago
@Guinda35352000 I know, I know, it's hard to believe that there could be one tiny group of people who are behind just about every financial conspiracy that exists--and that has ever existed. And that this one tiny group of people has been able to plant their people into the leadership of every political, financial, and media company there is. But maybe that's why it seems so unbelievable, because they've managed "reality" for us throughout our lives and throughout history.
bagginshates 3 months ago
@bagginshates
Jewish? You gotta be kidding me.
Guinda35352000 3 months ago