Agoracom Blog

60 Minutes Fries Wall Street / SEC / Justice Department ….. Sarbox Officially A Joke

Posted by AGORACOM at 12:04 AM on Monday, December 5th, 2011

(CBS News) Two whistleblowers offer a rare window into the root causes of the subprime mortgage meltdown. Eileen Foster, a former senior executive at Countrywide Financial, and Richard Bowen, a former vice president at Citigroup, tell Steve Kroft the companies ignored their repeated warnings about defective, even fraudulent mortgages. The result, experts say, was a cascading wave of mortgage defaults for which virtually no high-ranking Wall Street executives have been prosecuted.

I blankly stared at my keyboard thinking of ways to succinctly articulate my thoughts on this matter for 10 minutes. I couldn’t do it. Not without embarking on a 1,000 word rant.

All I can say is that Wall Street will burn. That isn’t anger. It isn’t vengeance. It is simply the clear path upon which Wall Street has set itself upon.

The full 60 Minutes page on this story can be found here.

The full 60 Minutes video can be found in the two clips below.

2 Responses to “60 Minutes Fries Wall Street / SEC / Justice Department ….. Sarbox Officially A Joke”

  1. AGORACOM says:

    Andrea, can’t say I’ve been to but I get your drift. I figure the “OccupyWallStreet” movement is now more powerful than any online petition and putting my faith in millions across America who share our anger over this.

    I am still dumbfounded at how blatant the SEC / Justice Department are in cahoots with the richest of the rich. Clearly, they stopped looking after the rest of us years ago.


  2. Andrea Allan says:

    Have you seen If you were to start a petition on this website it would allow you to list it on Facebook and it could spread like wildfire.

    I wish you would. I want to see Wall Street big banks,mortgage companies and Justice dept to be accountable, they need to be shamed and banned from ever working in the industry again.