Some programs are worth seeing a second time.
Frontline’s “The Untouchables” is one of them. It will air once again Tuesday night at 9 on KACV-TV and it tells a story that makes many millions of Americans quite angry. Check that. It infuriates them.
“The Untouchables” tells how Wall Street financial wizards and gurus have escaped prosecution in the wake of the largest financial meltdown in the United States since The Great Depression. Hedge-fund managers have gotten away with costing their clients billions of dollars in investment income. Lenders went out of business, leaving debtors holding the bag on unpaid loans. Huge investment firms went under, while their former CEOs received the most glittering of golden parachutes.
No one has been prosecuted for any of it.
Frontline examines why.
You’ll recall the financial crisis of 2008 and 2009, yes? The financial industry was found to be engaging in some highly questionable lending practices, loaning money to individuals who by all rights shouldn’t have qualified for the loans. They got the money anyway, even though they couldn’t pay the money back.
The real estate market crashed in many states around the country. Texas, fortunately, has been spared much of the grief that has visited states such as Nevada, Florida and California. A lot of Americans have been suffering ever since.
No one, I repeat, has been prosecuted for any misdeeds.
Do you ever wonder where is the justice in that?
Frontline will help us learn how it all came about and how those in charge so far have skated past the law’s long arm.