The Untouchables

Coming January 22, 2013 FRONTLINE investigates why Wall Street's leaders have escaped prosecution for any fraud related to the sale of bad mortgages.    

WHY HAVE WALL STREET’S LEADERS ESCAPED PROSECUTION FOR FRAUD RELATED TO THE SALE OF TOXIC MORTGAGES?

Frontline-

FRONTLINE Presents The Untouchables Tuesday, January 22, 2013, at 10 P.M. on PBS www.pbs.org/frontline/untouchables

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More than four years since the financial crisis, not one senior Wall Street executive has faced criminal prosecution for fraud. Are Wall Street executives “too big to jail”?

In The Untouchables, premiering Jan. 22, 2013, at 10 P.M. on PBS (check local listings), FRONTLINE producer and correspondent Martin Smith investigates why the U.S. Department of Justice (DOJ) has failed to act on credible evidence that Wall Street knowingly packaged and sold toxic mortgage loans to investors, loans that brought the U.S. and world economies to the brink of collapse.

Through interviews with top prosecutors, government officials and industry whistleblowers, FRONTLINE reports allegations that Wall Street bankers ignored pervasive fraud when buying pools of mortgage loans. Tom Leonard, a supervisor who examined the quality of loans for major investment banks like Bear Stearns, said bankers instructed him to disregard clear evidence of fraud. “Fraud was the F-word, or the F-bomb. You didn’t use that word,” says Leonard. “By your terms and my terms, yes, it was fraud. By the [industry's] terms, it was something else.”

[FRONTLINE]

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