The Untouchables is a fifty minute documentary on the “F-bomb,” the word is fraud; it’s not to be used, in a film which shines the light on the number one suspects being Wall Street. Many of Wall Street’s top brokers and if not all top executives who have contributed to the next great recession will not face any chance of prosecution or be indicted on any criminal charges because the failure of the United States government including the efforts made by the Justice Department and the Federal Bureau of Investigation to bring about any credible evidence in which there was beyond a reasonable doubt.
Based on the seemingly packaged and toxic mortgage loans to investors and the gambling on those securities and bonds to fail for even more financial succession of these institutions and top executives I really find it hard to believe with such credible evidence and the amount of it, that not one person to date can be held accountable for their actions especially in such times of economic distress for our nation where the top 1% of the population of the United States controls more money than the rest of almost 95 % combined, to me that is the atrocity. We can talk about starting from the bottom and working our way up but in this case I think the underwriters really have nothing to do with what is the core issue of what’s happening right now in our financial instructions. Should they have been more ethical who knows, should they have went to someone in charge in fact they did, should you always execute good ethical decisions in business I would hope so but that fact is we have powerful people in place who are dictating much of what happens in our legal systems and financial instructions who are making poor ethical choices each and every day.
Much of the film sheds light on the efforts made by Lanny Breuer director of the Justice Department in charge of the criminal division. After watching the film I felt somewhat annoyed and angered by the way in which Mr. Breuer handled the case against Wall Street and how he yielded to the opportunity of establishing any accountability to any of the top executives in such a tremendous case indirectly involving the entire world and Government of the United States and every citizen because of due diligence. Due Diligence is an investigation of a business or person prior to signing a contract and requires a certain level or standard of care that every person and business I think should exercise because of the ethical impactions which can arise when working within an organization or any place of business throughout the U.S. and Internationally. The letter cited remarks made in the above excerpt from the film by Lanny Breuer, the former head of the Justice Department’s criminal division. Breuer told FRONTLINE: In any given case, I think I and prosecutors around the country, being responsible, should speak to regulators, should speak to experts, because if I bring a case against institution A, and as a result of bringing that case, there’s some huge economic effect — if it creates a ripple effect so that suddenly, counterparties and other financial institutions or other companies that had nothing to do with this are affected badly — it’s a factor we need to know and understand. (http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/untouchables/is-wall-street-still-untouchable/)
If being scared of doing your job as a top governmental employee who oversees criminal activity within the legal system is a problem for you because of failing, and because you feel these enterprises is to powerful 1. Why are you in such a high profile position, and 2. You must be involved in the problem in some way shape or form because the evidence you have in compiling an investigation is overwhelming to bring about a proper prosecution against corporate thugs being Wall Street Executives, and having a vast number of key people in congress who will stand behind your efforts than why has almost five years passed and not a single conviction been made involving such an extensive case of fraud to the American people in history. He seemed almost as if he did absolutely nothing in organizing any serious efforts to bring about a case against any real players of Wall Street, rather coming across as another paid top level puppet. As the documentary portrayed and many key people referenced that Wall Street was pretty much to blame for the robbery of hundreds of billions of dollars related to the mortgage crisis and especially so much evidence that was not being evaluated by any members in top level government positions definitely led me to believe that we have a major issue in all departments and organizations throughout the government. A congressional hearing was sought out by Senator Ted Kaufmann and a congressional committee to oversee that this type of corporate robbery was held twice and still no actual real progress has been made in removing whoever is responsible for this atrocity.
In February, the department wrote back to Brown and Grassley to say that, “No corporate entity, no matter how large, is immune from prosecution.” The senators responded by calling the letter “aggressively evasive.” Regulators came under renewed criticism in March, when the attorney general told the Senate Judiciary Committee that the size of some banks has become a factor.
“I am concerned that the size of some of these institutions becomes so large that it does become difficult to prosecute them,” Holder said. “When we are hit with indications that if you do prosecute, if you do bring a criminal charge it will have a negative impact on the national economy, perhaps world economy, that is a function of the fact that some of these institutions have become too large. It has an inhibiting impact on our ability to bring resolutions that I think would be more appropriate. That is something that you all need to consider.” Last week, Holder sought to walk back his comments, telling lawmakers his words had been “misconstrued.” http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/untouchables/is-wall-street-still-untouchable/ If this kind of attitude does not stop and they never bring a serious case against Wall Street and address the core issues of what has caused the mortgage meltdown and great recession related to the mortgage crisis securities and loans we will find ourselves with another Keating 5, another great recession which will not be the first and last recession the U.S. among millions of Americans will endure, but also the people Internationally and thousands of Institutions globally, because of the indirect practices and standards in which is crippling our financial and legal systems within our Nation.