There were no subpoenas, no document reviews, no wiretaps. It was seen as a test case. And I was sitting there behind the senator, thinking, "You're dancing around the central question. Do you think the government should have brought criminal cases against these players? I think many times, you have very sophisticated parties on both sides of these—-. 
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Don't worry about whether we can verify income. Does that surprise you?
In other words, you would come into a job, you'd find 50 percent of the loans were defective, but then the standards would be loosened so that you could qualify those loans— TOM LEONARD: Well, that's— I mean, that's— that's a bit different because as a citizen, I would hope that something would happen to them, somehow, some way. We reviewed millions of pages of documents — corporate documents, regulatory documents — most of which had never seen the light of day.
I want to see people who have committed such fraud and the havoc, it's caused this country— frankly, I want to see them go to drontline. Use one of the services below to sign in to PBS:. Get Our Newsletter Subscribe.
The Untouchables FRONTLINE - PBS Documentary - video dailymotion
Well, fraud— in the due diligence world, fraud was the F-word or the F-bomb. Edit Did You Know? They're the ones who send the memos up to the folks who get the big bucks.
These sources said that at the weekly indictment approval meetings that there was no case ever mentioned that was even close to indicting Wall Street for financial crimes. Finally, we're beginning to see the criminal cases that will evidence a determination by the Justice Department to bring to justice those individuals who misled the public, who misled investors, who, knowing that untoichables investment was bad, still said it's good.
I would never run for office. Not too big to go to jail! In other words, you would come into a job, you'd find 50 percent of the loans were defective, but then the standards would be loosened so that untouchavles could qualify those loans—.
The Untouchables FRONTLINE - PBS Documentary
S Ep10 53m 41s checkmark Add to Watchlist. There's no fronfline up here. In a September speech, Lanny Breuer gave a speech explaining his reluctance to indict a major bank.
Well, I don't know who you spoke with because we have looked hard at the very types of matters that you're talking about.
Millions of American taxpayers are still wondering, how did we get ourselves into this economic mess, and is there someone truly to blame?
What do you suppose that means? But we were willing to give them unfouchables benefit of the doubt.
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You didn't use that word. By the due diligence terms, it was something else. We are focused on that, and we will bring the cases where we— where it's appropriate. Like, I thought the whole banking system was about to go down. I think many times, you have very sophisticated parties on untluchables sides of these—. Don't for a moment think that they're not being pursued and investigated. I really think this was a stain on the American justice system, and I did not want to be an accomplice to that.
You've alleged in the case of Bear Stearns that they passed these things on knowingly, intentionally, knowing they were bad? So the lead would say what? I said, "I'm confused. You'll receive access to exclusive information and early alerts about our documentaries and investigations.
The Justice Department failed.
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