Blowing the Whistle on the Mortgage Bubble
1–10 of 178 posts
Re: Blowing the Whistle on the Mortgage Bubble
#2Worth it just for the email in the middle by a Citi underwriter.
http://cybercemetery.unt.edu/archive/fcic/20110310201200/htt...
I don't agree with every stylistic choice, but that's some of the best professional writing in the fling-a-firecracker-outside-of-your-silo circumstance that I've ever seen. ("I do not believe our company has recognized the material financial losses inevitably associated with the above Citi liability." is accountant-speak for "THE WORLD IS ON FIRE!")
Re: Blowing the Whistle on the Mortgage Bubble
#3This documentary didn't reveal anything that wasn't already known. There aren't any criminal prosecutions because it's hard to prove that there was fraud. It then goes on to speculate why Breuer hasn't been able to charge anyone.
Re: Blowing the Whistle on the Mortgage Bubble
#4I hope pbs eventually covers the zero prosecution for HSBC bank money laundering.
Only penalty was a month's worth of profit. Not one person will serve a day in prison.
But hey, don't unlock your phone, it's a felony. Or download and free journal articles.
Re: Blowing the Whistle on the Mortgage Bubble
#5This documentary didn't reveal anything that wasn't already known. There aren't any criminal prosecutions because it's hard to prove that there was fraud. It then goes on to speculate why Breuer hasn't been able to charge anyone.
Nothing will change until it's much too late because the financial industry and monied interests has completely captured the federal government and main stream press.
Re: Blowing the Whistle on the Mortgage Bubble
#6This documentary didn't reveal anything that wasn't already known. There aren't any criminal prosecutions because it's hard to prove that there was fraud. It then goes on to speculate why Breuer hasn't been able to charge anyone.
>This documentary didn't reveal anything that wasn't already known.
I really, really hate this sentiment. "Oh look, it's yesterday's news!". It doesn't matter. It should be repeated every day on every station until something is done about this. How can we claim our "society" is anything more than an illusion when people can be arrested for tampering with devices they purchase, but people who steal billions get a small fine for it.
The only thing Madoff did wrong was he didn't steal enough.
Re: Blowing the Whistle on the Mortgage Bubble
#7This documentary didn't reveal anything that wasn't already known. There aren't any criminal prosecutions because it's hard to prove that there was fraud. It then goes on to speculate why Breuer hasn't been able to charge anyone.
That is largely what Frontline does. They sometimes break original stories, but a lot of what they do is building on other people's reporting and compiling the information in a clear and organized fashion. Then they add interviews for depth and insight. They don't try to be breaking news. They try to be comprehensive.
I'm a big fan. They aren't perfect (who is), but they take reporting and informing very seriously, and they dive deep. I've always gotten a lot whenever I've actually sat down to watch. I really need to watch more.
Re: Blowing the Whistle on the Mortgage Bubble
#8This documentary didn't reveal anything that wasn't already known. There aren't any criminal prosecutions because it's hard to prove that there was fraud. It then goes on to speculate why Breuer hasn't been able to charge anyone.
It all reminds me a lot of the Nazi regime. We might not have a single person like Hitler to put the blame on, but everyone knowingly perpetuated the bad behavior.
Re: Blowing the Whistle on the Mortgage Bubble
#9I hope pbs eventually covers the zero prosecution for HSBC bank money laundering. Only penalty was a month's worth of profit. Not one person will serve a day in prison. But hey, don't unlock your phone, it's a felony. Or download and free journal articles.
The sensationalism isn't helping. It's perfectly legal to download free articles.
Re: Blowing the Whistle on the Mortgage Bubble
#10As someone on Twitter said: "Justice Dept said they'd never speak to @FrontlinePBS again after this Wall Street doc. So naturally it's a must-watch" via https://twitter.com/trevortimm/status/294337455321133056
I found the programme to be very interesting and raise important points but as always, it IS very hard to prove criminal actions in cases like these and while some might be greedy they might not actually be criminal.
That said; it seems that some knew about these unsavory dealings and hopefully they will face justice.