THE UNTOUCHABLES

17 comments

Posted on 23rd January 2013 by Administrator in Economy |Politics |Social Issues

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Watch The Untouchables on PBS. See more from FRONTLINE.

17 Comments

  1. AWD says:

    The banksters simply bought their way out of prosecution/jail. Banksters/Wall Street jumped to the number one campaign contributors for the democrats, beating out lawyers for the first time in history.

    Obama and Eric “dick” Holder, and the porn watchers at the SEC are getting too much money to prosecute. Corzine stole $1.4 billion and got away with it, and still attends functions at the White House and bundles money for Obama.

    They need to start at the top, prosecuting Obama or at least impeachment for allowing this to happen.

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    23rd January 2013 at 12:37 pm

  2. Novista says:

    Damn, I had the email from Teri last night. She had the story in 2010 but Reuters and Fortune passed on it because it was too complicated. But she got an article in The Atlantic, January 2011.

    http://www.teribuhl.com/2013/01/22/frontline-the-untouchables-how-are-these-wall-streeters-not-in-jail/

    Like or Dislike: Thumb up 4 Thumb down 0

    23rd January 2013 at 1:50 pm

  3. Administrator says:

    Here is a link to all four parts.

    http://www.zerohedge.com/contributed/2013-01-23/untouchables-why-no-one-wall-street-has-been-prosecuted

    Like or Dislike: Thumb up 3 Thumb down 0

    23rd January 2013 at 2:10 pm

  4. Mary Malone says:

    People who are demanding prosecutions need to understand how deep and wide the systemic fraud within our government and wall street is.

    You know my theory that Big Gov orchestrated this scheme. Their part is to block and tackle all prosecutions until the statute of limitations are up and the money, homes are all gone.

    Why do I think that is the case?

    In 2009 and 2010, we contacted members of Congress, the FDIC, SEC, DOJ/FBI with actionable intelligence of the systemic mortgage fraud and all ignored us or told us to pound sand.

    For the longest time, I could not figure out why Obama was not appealing to his base and at a minimum getting the DOJ to arrest a small number of the bad actors.

    So I did some sleuthing and discovered Eric Holder was a partner at Covington & Burling the white shoe law firm. He joined the firm when he left the Clinton White House and worked there, with Lanny Breuer. What’s the big deal? I mean don’t all “public servants” take lucrative gigs as they leave Big Gov?

    Well, Covington & Burling is the law firm for MERS, the fake electronic registration system that facilitated the fraud. Covington & Burling attorneys wrote the letter justifying MERS business model that was trotted out to the banking community. This letter was banking’s “Get out of Jail Free” card.

    We contacted all the AG’s with this info – crickets.

    In every comment section of every story asking why the bankers were not jailed, I posted this information with links. For at least a year. Then, on the eve of the Attorneys’ General Global Banking Settlement was announced, Reuters picked up the story.

    By then, it was too late. The deal was done. Document fraud was no longer a crime – for America’s largest banks and their agents.

    Eric Holder and his top lieutenants facilitated the cover up in the following way:
    -When robo-signing scandal erupted, Holder announced “Save Our Homes” committee that would focus on arresting the bad actors
    -The FBI went to the SEC to ask for guidance. The SEC said, “we don’t know, you should partner with the MBA”. The MBA – Mortgage Banking Association is the trade association for all the bad actors who stole $13 trillion in pension money and $7 trillion from homeowners in illegal foreclosures and lost equity
    -The FBI and MBA crafted the definition of mortgage fraud which quite conveniently does not include actions and crimes by wall street’s bad actors. Instead, the definition hones in on low-level people in the chain like real estate agents, flim-flam artists and homeowners.

    Unless and until the corruption is revealed and purged at the highest levels of our government, the cronies who destroyed America’s personal and sovereign wealth will go unpunished. People need to know that.

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    23rd January 2013 at 2:15 pm

  5. AWD says:

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    23rd January 2013 at 3:44 pm

  6. AWD says:

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    23rd January 2013 at 3:45 pm

  7. backwardsevolution says:

    Mary Marlone – good work. I also looked into where these guys came from:

    Lanny Breuer, Steven Fagell and Eric Holder – all of them came from the law firm of Covington & Burling in Washington, D.C. Coincidence? How do you think they got their positions in the first place? These guys have defended white collar criminals. They are their friends. They’re not about to turn around and bite them.

    Lanny Breuer:

    “Prior to becoming Assistant Attorney General, Breuer was a
    partner in the Washington law firm of Covington & Burling LLP and the
    co-chairman of its white-collar defense and investigations practice group.
    Breuer was best known for his work representing the subjects of congressional
    investigations. He represented the University of California in an investigation
    of Los Alamos National Laboratory, Moody’s Investor Service in the wake of
    Enron’s collapse, Halliburton/KBR in a hearing conducted by the House Committee
    on Oversight and Government Reform, Roger Clemens,[1] Yahoo!, and the Special
    Litigation Committee of the Board of Directors of Hewlett Packard.”

    http://en.wikipedia.org/wiki/L…

    Lanny Breuer’s right-hand man, Steven Fagell:

    “Covington & Burling LLP is pleased to announce that Steven Fagell, most recently the Deputy Chief of Staff and Counselor to the Assistant Attorney General of the Criminal Division at the U.S. Department of Justice, has rejoined the firm as a partner. Mr. Fagell will practice in the firm’s litigation group, with a particular
    focus on white collar defense, internal investigations, and securities litigation
    and enforcement. He will be resident in Covington’s Washington office.”

    http://www.cov.com/news/detail…

    Eric Holder, U.S. Attorney General:

    “From 2001 until he became Attorney General, Holder worked
    as an attorney at Covington & Burling in Washington, D.C., representing
    clients such as Merck and the National Football League.”

    http://en.wikipedia.org/wiki/Eric_Holder

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    23rd January 2013 at 3:54 pm

  8. Mary Malone says:

    @Backward – Yes, these guys are all players and have done a tremendous job pushing off the threat of real investigations and criminal prosecutions.

    Corporate media refuses to toss their cronies under the bus and reveal the extent of rancid corruption within the corridors of power.

    We need to start naming names and being very specific in describing what these people (Holder and his crew) have done. I mean how many people agree the banks are corrupt and the cronies need to go to jail? But not many know the definition of mortgage fraud, which is the basis for opening up investigations and getting indictments was crafted by the Mortgage Banking Association. We need to get that info out – which is very easy to understand.

    Holder must go. The truth must be told and the guilty punished.

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    23rd January 2013 at 5:00 pm

  9. backwardsevolution says:

    Over at “We The People”:

    “We petition the Obama Administration to: Bring Justice back to the Justice Department- Fire Holder and Breuer.”

    https://petitions.whitehouse.gov/petition/bring-justice-back-justice-department-fire-holder-and-breuer/YS7chXmp?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl

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    23rd January 2013 at 5:21 pm

  10. Administrator says:

    Assistant Attorney General Breuer Gets DOJ Boot In “Untouchables” Aftermath

    Submitted by Tyler Durden on 01/23/2013 18:11 -0500

    Earlier today, we reported that “Assistant Attorney General Admits On TV That In The US Justice Does Not Apply To The Banks” when we commented on last night’s PBS special “The Untouchables.” Explicitly, we said that it was “Lenny Breuer who made it very clear that when it comes to the concept of justice the banks are and always have been “more equal” than others. He does so in such shocking clarity and enthusiasm that it is a miracle that this person is still employed by the US Department of Justice.” As of minutes ago that is no longer the case as his employment contract has been torn up. The WaPo reports, that Lanny A. Breuer is leaving the Justice Department “after leading the agency’s efforts to clamp down on public corruption and financial fraud at the nation’s largest banks, according to several people familiar with the matter….It is not clear when Breuer intends to leave, nor what he plans to do once he departs, but it is certain that the prosecutor’s days in office are winding down, according to people who were not authorized to speak publicly about the matter.”

    From WaPo:

    Breuer is widely credited with aggressively going after white-collar crime in the aftermath of the crisis. He also stepped up the division’s involvement in money laundering cases, launching a series of criminal investigations that have resulted in multimillion-dollar settlements.

    …

    Critics have also decried Breuer’s routine use of deferred prosecution, which gives the agency the right to go after a company in the future if it fails to comply with the terms of the agreement. They say the use of such tactics amounts to a slap on the wrists of companies that have engaged in egregious behavior. Breuer, however, has argued that the agreements result in greater accountability for corporate wrongdoing.

    Or none, as the case may be.

    Brauer is not only known for being the bankers’ lackey: his fingerprints are also all over Fast and Furious:

    During Senate hearings in 2011, Breuer admitted that he failed to alert other Justice Department officials that federal agents had allowed guns to illegally flow into Mexico and onto U.S. streets between 2006 and 2007. The practice, known as “gun walking,” was also a key part of the Obama administration’s Phoenix gun trafficking operation, Fast and Furious.

    The operation came under fire when many of the weapons later turned up at crime scenes in Mexico and the United States, including two where a U.S. Border Patrol agent was killed.

    Several officials at the Justice Department resigned in connection with the operation, including Jason Weinstein, a deputy assistant attorney general in the criminal division. Breuer later apologized for his inaction, when the tactics first came to his attention. Sen. Charles E. Grassely (R-Iowa) called for his resignation, but Attorney General Eric H. Holder Jr. stood behind Breuer.As one of the longest-serving heads of the criminal division, Breuer’s tenure has been filled with controversy and high-profile prosecutions. He was admonished for his role in the agency’s botched attempt to infiltrate weapon-smuggling rings in the operation dubbed Fast and Furious. And he has been accused of being soft on Wall Street for failing to throw senior bank executives behind bars for their role in the financial crisis.

    Either way, Brauer is gone.

    And ironically it is his departure which confirms that everything that could be wrong at the US department of INjustice, is wrong.

    Because, with all due respect to this banker muppet, he is merely the tiniest cog in a broken down judicial system, which works (and we obviously use the term loosely) in conjunction with the legislative and executive branches, as well as that implied fourth branch – the Federal Reserve – to further just one thing: the interests of the bankster overclass, who ever since the financial crisis have benefited to the tune of some $5 trillion, or the full amount of incurred debt that future generations of Americans will be responsible for, and yet which benefit primarily the financial oligarch right here and right now.

    Fixing the unprecedented level of corruption that has gripped America will not be done with the voluntary retirement of one person who should have done more, but kept his mouth shut (for whatever selfish reasons). The system, sadly, is so rotten to the core, that only a grand reset of every social and political institution will help.

    Luckily, we have the Fed for that, which courtesy of its lunatic actions is bringing this once great country every day closer to the abyss.

    The good news: there is no turning back now – the entire financial system is now on crash course at a pace of $85 billion per month and accelerating.

    The bad news: it will take a while before the final tide subsides for one final time as the status quo will certainly not go without a fight. A very big, and very lethal fight.

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    23rd January 2013 at 7:36 pm

  11. Novista says:

    No, the Fed is not lunatic with the mortgage purchases — this is part of the whole scam. Sequester those broken titles and turn them into born again virgins.

    How many whistleblowers and interested parties does it take to get a criminal indictment? All of them and it still won’t happen. And Frontline only had half of the story.

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    23rd January 2013 at 7:52 pm

  12. youcanthavemyglock says:

    Mary Malone, you should contact Alex Jones, possibly be on this radio show, his site gets a lot of traffic and millions of listeners, let’s get this going

    http://www.infowars.com/

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    23rd January 2013 at 8:57 pm

  13. George Hartzman says:

    I am the George Hartzman Rolling Stone’s Matt Taibbi wrote of the other week, and it appears that I am aware of a name/story that has not passed the Statute of Limitations.

    Wachovia CEO Robert Steel bought Wachovia’s stock in a breach of trust, confidence and his fiduciary duty to my clients and shareholders while in possession of material, nonpublic information.

    On July 9, 2008, Robert Steel became president and CEO of Wachovia after working for Goldman Sachs from 1976 to 2004 and the US Treasury under former Goldman Sachs CEO Henry Paulson from October 10, 2006 until July 9, 2008. Mr. Steel was “the principal adviser to the secretary on matters of domestic finance and led the department’s activities regarding the U.S. financial system, fiscal policy and operations, governmental assets and liabilities, and related economic matters,” according to Wikipedia’s biography. Mr. Steel most likely knew about other firm’s borrowings via his time spent at the U.S. Treasury Department.

    On July 22, 2008, Mr. Steel personally purchased 1,000,000 shares of Wachovia’s stock as the company’s TAF borrowing reached $12.5 billion, which appears not to have been disclosed in securities filings audited by KPMG.

    In an interview with CNBC’s Jim Cramer On Monday, September 15, 2008, Robert Steel said “I think it’s really about…transparency. People have to understand the assets and really be able to say, this is what I own… Complete disclosure. …we can work through this with transparency, liquidity and capital. …Our strategy was to give you all the data so you could make your own model. We tell you what we’re doing… …we’re raising capital ourselves by basically shrinking the balance sheet, cutting the dividend, cutting expenses. We can create more capital ourselves that way… for now, we feel like we can work through this…” After Jim Cramer asked “Should there be any sort of quick regulatory relief from the SEC that would make life easier to be able to make your bank much stronger?”, Mr. Steel responded “I don’t think it’s about my bank.”

    After not reporting TAF loans, Wachovia’s CEO wrote “I, Robert K. Steel, certify that: I have reviewed this Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 of Wachovia Corporation; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report” on October 30, 2008.

    Mr. Steel was at least aware of Wachovia’s Federal Reserve loans since July, 2012, if not the undisclosed loans to multiples of other financial institutions.

    If Mr. Steel was “the principal adviser…on matters of domestic finance and led the department’s activities regarding the U.S. financial system, fiscal policy and operations”, how could he not have known and acted on undisclosed material information?

    On June 22, 2010, Robert Steel was appointed Deputy Mayor for Economic Development by New York City Mayor Michael Bloomberg, after which, Steel resigned his seat on the Wells Fargo board. According to Morningstar data, Mr. Steel owned 601,903 shares of Wells Fargo in 2010, which would be worth $20,446,644.91 as of October 26, 2012.

    George Hartzman
    Greensboro , North Carolina

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    23rd January 2013 at 8:04 am

  14. Mary Malone says:

    @George Hartzman Thanks for naming names and providing level of detail to support the accusation of Steel’s bad acts.

    Have you thought about filing an Affidavit of Criminal Complaint with the NY Federal Prosecutor, or other office that would have jurisdiction?

    I am told that law enforcement cannot ignore an Affidavit of Criminal Complaint. They must act by opening an investigation. If the fail to act, they could be charged with misprision of felony.

    Just a thought…

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    23rd January 2013 at 12:06 pm

  15. Mary Malone says:

    @youcanhavemyglock Thanks for the idea. I sent an email to Kurt, the editor of Infowars asking if we can have a link to TBP, or a story on the site that gets the word out to his audience.

    I’ll keep you posted…

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    23rd January 2013 at 12:08 pm

  16. Thinker says:

    So where does Mary Jo White factor into any of this? Another insider?

    Like or Dislike: Thumb up 2 Thumb down 0

    23rd January 2013 at 12:47 pm

  17. Mary Malone says:

    @Thinker Yes, Mary Jo is an insider, part of the gay cabal.

    When she left the NY Federal Prosecutors office she set up shop – a lucrative firm defending important players in white collar crime cases. She also represented Rose O’Donnell in her lawsuit against German publishing company. Rosie, by the way drove the publishing company into BK by revealing possible fraudulent circulation practices – all their magazines folded.

    When the rumors Bishop Howard Hubbard was gay surfaced, the Albany Archdiocese retained Mary Jo to investigate. After sticking the Diocese with a $1 million tab, Mary Jo announced that Bishop Howard was not gay.

    Howard is in the progressive, Marxist gay clique.- rumored to retire this year. Finally. He’s definitely a Progressive Marxist who has wreaked havoc on the Catholic people in his diocese for decades. But according to Mary Jo at least he’s not gay – not that that’s a bad thing…

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    23rd January 2013 at 2:21 pm

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