Borrowing $44 for every $1 in assets. I'd say that was criminal recklessness. But money talks and the public walks.

Seems crooks have better lives than men with integrity after the scandal. Crazy world!

@heatherrobertson4018

6 жыл бұрын

Xing Xiao crooks no, rich crooks yep, it's always been that way poor crook u get busted rich or celebrity u evade justice celebrity and rich u are given get outta jail free card

@xmuta

6 жыл бұрын

Xing Xiao - white privileges

@chv459

5 жыл бұрын

Lee should the FOOL and LB in 9th circuit court. Or NY Fed court.

@Franko-zd6hc

5 жыл бұрын

Crooked systems robbery without violence days banks are numbered

@zes3813

5 жыл бұрын

no such thing as better or crook or not, perfx lx no matter what

"steal a little and they'll put you in jail, steal a lot and they will make you king" Bob Dylan

@_Wai_Wai_

3 жыл бұрын

but why did Bernie Madoff go to jail? maybe he scammed the wrong people

@shzwon123

3 жыл бұрын

Instructions unclear: now in charge of the United States and don't know how to properly contain the covid-19

@eddyfernandez9807

3 жыл бұрын

@@_Wai_Wai_ Exactly you gotta steal a lot but from people who are always working to pay taxes.

@gabrielmondragon6308

3 жыл бұрын

@@_Wai_Wai_ madoff stole from the rich, dude. You gotta steal a ton of money from poor people in order to get by free. Get on with the program, dude.

@N.A525

3 жыл бұрын

@@_Wai_Wai_ he scammed people In taking money. These were security investments that were being handled inappropriately, Thus causing a collapse.

But you can do six months in jail for petty theft or a DUI.

@banksterkid5930

3 жыл бұрын

In DUI u r caught red handed. In this crash no one was caught red handed. These crooks used that fact to their advantage.

They all got away with crime. They were too big to fail!!!!

@chicagoeconomist1643

6 жыл бұрын

Charles Glasspy this entire video was about a bank that did fail....

@jackmeyer8451

5 жыл бұрын

wrong

@stupoc6715

Жыл бұрын

"To Big To Fail" good movie. That was A.I.G.

no one went to jail. wow.

@MominNz

5 жыл бұрын

are you sure, I think they all went to prison. 💥

@snoopy_peanuts_77

5 жыл бұрын

@@MominNz why would u think that?

@dentatusdentatus1592

5 жыл бұрын

@@snoopy_peanuts_77 Because there was an article in "The Onion" that said so.

@ulos100

5 жыл бұрын

Shrinidhi Ghatpande I wish that was true.

@jblue705

5 жыл бұрын

Dentatus Dentatus lol

Whether RF knew about REPO 105 or not, surely the chairman of a company knew that $50B dollars was regularly being off shored and then re shored after filing, if not he should be jailed for incompetence, either way he was a conman.

@paulkerrigan9857

4 жыл бұрын

"Tell me the difference between stupid and illegal and I'll have my wife's brother arrested."

@ivanvolaric4812

Жыл бұрын

Clearly he knew. The architects of this disaster should have been jailed and had their money confiscated or both and legislation should have been enacted so that it doesn't happen again. It's outrageous that the financial system was teetering on destruction because of the antics of these greedy fuckers. Of course, nothing will change...especially when political donations are at stake...and it will happen again.

“I’m not permitted to be bothered by that.” Wow.

Evil ALWAYS gets away with it...when evil is committed by the obscenely wealthy...is this REALLY a shock?!

For the rich & powerful crime does pay.

60 minutes is such an important institution of our global society. Wish you all the best.

@UTUBE3JC

3 жыл бұрын

That is nice of you, next

Remember when they all still got their bonuses? You know, to retain the best talent.

@UTUBE3JC

3 жыл бұрын

Gotta keep em at the end of the day. Yet so wrong but they already had crossed that line, next

@DataLog

3 жыл бұрын

If this happened in China, they would be hanging in front of the public.

Matthew Lee, the British fellow, is a hero.

@Zen_Power

5 жыл бұрын

Herman47 at least one person had some integrity in their position.

@kevino4372

Жыл бұрын

Great guy

It was a long time ago and still makes me sick to my stomach the criminal actions. People should go to prison and be broke.

@marcuslance5883

5 жыл бұрын

Erik 567 If you can’t beat them, join them pretty boi

@SurvivingAnotherDay

4 жыл бұрын

@@marcuslance5883 why would he want to join you?

They did the same thing as Enron executive who got prosecuted. I wonder why Fuld and company didn't get charges as they did they same crimes?

@erikarmstrong8912

5 жыл бұрын

It's like they copied to a T the methods Enron used. Hiding in pain sight.

@raymondfrye5017

3 жыл бұрын

Enron's entire staff later became George Bush's cabinet.

You know a company has lost touch with reality when they turn the outside of their building into a giant LED TV.

@lenaely6146

3 жыл бұрын

💛

soooo government workers can't be prosecuted?!?! along with these crooks?!?! What is wrong with this world. God knows all.

Total scam !!!! These guys cheat , lie & steal ... unbelievable!!!

@jonathancisneros7150

5 жыл бұрын

ROBERT NARDONE well keep getting loans then and expect these crooks to rip you off. Lol

@kristopherhasenbuhler5393

5 жыл бұрын

Only a chump would give in to them And let me tell ya. There's plenty of chumps that have access to alot of money!

This is the very best investigation I have seen on the subject

Government of the rich, by the rich and for the rich.

@johncaldwell7778

6 жыл бұрын

Oscar Banuelos when has it been anything other than that??

@jeremyharvey7506

5 жыл бұрын

I pledge allegiance to the rich of the United States of America, and to the corporations for which they stand one nation under capitalism with inequality and injustice for all.

@jeremyharvey7506

5 жыл бұрын

per aspera ad astra ¿ true bro, we all can...are you? Just curious.

@jeremyharvey7506

5 жыл бұрын

per aspera ad astra ¿ good stuff bro, I agree with you. Got my undergrad in electrical eng, working at Fortune 500 and own two businesses. I agree it can be done and there’s no where better than America to do it.

@jeremyharvey7506

5 жыл бұрын

per aspera ad astra ¿ good stuff, the day a lot of lawyers, MBA, etc start of in EE. My company does operations and Lean Six Sigma consulting and training. Jceharvey.com, drop me a line in the contact section. I’d love to chat more.

Ernst & Young was involved?!

Why weren't the guilty prosecuted & punished ??? ----------WHY??? ------------WolfSky9, 71 y/o

doesn't matter what happened in 2008... what matters is the fact that nothing changed since 2008... that means we are going to get a crisis harder than the legendary Great Depression

How does no one go to jail for this???

@bigworm5024

5 жыл бұрын

Money, that's how.

8:00 If you need to READ a statement verbatim that says "I do not recall," then you are basically admitting you are lying. WTF!

Finance is such a more lucrative career that it will attract almost all of the best and brightest in the field. Unless we raise SEC salaries to prohibitively high levels the banks will always be two steps ahead

@roc7880

Жыл бұрын

they are not the best just the most corrupt

Why would anyone go to jail when the rats are guarding the cheese.

I love the photos of Lehman Bros. where the window is broken. So symbolic.

The top Lehman executive held a lot of Lehman stock. He refused to take $21 per share. So the value went to 0.

Thank you for sharing this video !! makes the case for using open decentralized ledgers stronger so that fudging and deceiving is a non starter.

@YeezyFly

Ай бұрын

Laughs in FTX😂

absolute power corrupts absolutely

@cloudie8314

5 жыл бұрын

Nice👍🏽

@happytappyslappy

4 жыл бұрын

I was thinking exactly the same thing.

I worked there and sadly didn’t leave when others did cost me a great deal and no one went to jail as they should have

The loop is starting again. 11 years and already forgotten. We’ll soon have the next financial crisis. It could very well be irreparable the next time it hits.

I find it hard to believe that the reason no one was jailed was simply because "regulators didn't understand what was going on". I wonder how many lives were threatened / people were paid off

Who is here watching this in 2020?

@danielemoyon1649

4 жыл бұрын

I've been binge watching videos like this for about an hour.

So when I fill out FASFA and CSS forms for college, it is a NO NO for me to move funds out of my account, complete the forms and then move back but they did it.🤮

They abandoned their fiduciary duty

Matthew Lee is the man.

Rob a bank you'll get life,buy a bank and rob the World you'll get golden parachutes....

The SEC does not have the top lawyers or accountants, the banks do.

This is cases like this that would validate the use of vigilante measures against the people responsible! If the government of a society fails to protect and defend its country’s “citizens” interest then those responsible are enemies and traitors of the state! And should be dealt with by the military of the country!

The end where he says he wouldn't trust the books of big Wall Street firms. The stock market is heavily inflated with many companies not making a profit to match their stock price. Many new IPOs happening soon like Uber, Lyft, Slack, Pinterest are not profitable.

THEY all NEED to go to JAIL. But NO ONE Will THAT'S HOW it's GOING. Go to JAIL..

These CEOs shouldn't be allowed to keep their wealth. They should have the shirts sued off their backs. America is an unjust nation.

Not even charges ... stunning!

The football players in the SouthEast Conference understand finance just as well as the employees of the Securities and Exchange Commission do.

Banking industry regulates itself?

we need to keep companies from becoming too large.

@mydogskips2

5 жыл бұрын

Unfortunately, that's artificial control which goes against free market capitalism, the "holy grail" to most in the industry and many in the country/western world. But even more unfortunate, the capitalist system tends to concentrate wealth in the hands of a few, meaning a small group of companies will indeed get very large, "too large to fail" in many instances.

Unknowingly skip a traffic signal, you will be standing in front of a judge coughing up a fine, but here... What is this? A free ticket?

I was a Vice President at Lehman Brothers. I was the manager for the Tape Library. I had a nice office, great salary, and a staff of 23.

Yet years later we are repeating past mistakes. We will never learn.

Impressive! Thanks for this information

I love 60 min

Ernst & Young was also involved in Olympus case indirectly, and Japanese government didn't do anything against them.

♫♪ I got a pocket full of judges, keepin' my money warm ♪♫ - Wall St.

Good points!

Apparently, the people working for the SEC did not understand the material given to them and couldn't charge people for the unlawful practices - WHAT A JOKE

To paraphrase: Too big to go to fail? No, too big to go to JAIL.

What is that saying, "Who watches the watcher?"

And the banks still operate under the same conditions and deregulated ideals today.

Damn. Crazy that that transaction is allowed and in the books

The US should applogize to the hundreds of thousands if not millions world wide victims. b/c the US government was ultimately responsible.

fauld knew the accounting shennigan that was going on

Knowing many employees of Ernst and Young. The guilty and corrupt are in a home somewhere far away fron there.

let this sink in... the big banks are 3x's bigger now than during the crash, and 5 out of 8 biggest banks in the USA failed the stress test this summer. Corp Debt(which relies on bonds market to buy back the debt) is at a all time high!!! We have a massive issue about to blow up. And its going to get worse in feb 2019.

@TheGargalon

5 жыл бұрын

good, I would love to buy some cheap stocks

@yonisali3879

2 жыл бұрын

If someone fails their own Stress then if they close their eyes and proceed as if they didn't see then they have forfeited their right to

@yonisali3879

2 жыл бұрын

If someone one fails their own Stress test and then proceed as if they did not see the results. Two things are for certain Either they are very liquid And waiting for the inevitable act right that will be run into head frist so they can pick up stressed out assets at bargain prices. Or they are extremely stupid with extravagant appetites that is content with riding the temporary wave with their fingers crossed that there will still be available funds for 5 star lawyers to ensure at worst a few months stay in club fed when the wave hits the rocks that is if the preoccupation with the appetites hasn't eroded the lawyers fund. Either way does not spell out win for whoever invest In companies that fail their own Stress test beacuse they are the ones that gone be taken to the cleaners. I guess the old street rule applies as insurance even in high finance. Which was if something that is non tangible is called a product and is made to sound too complex then it actually is and comes with lot's lot's of fine print that probably span's pages that might not be soundest of gambling but if person really must has to scratch itch for gambling with the odds they be better off playing blackjack against a dealer atleast that route there is a slim chance you might walk away with atleast what you came with.

Wonder if that guy found a job. He'd probably make a great auditor.

@GodsChild1159

5 жыл бұрын

He should be president of America!

@debasishraychawdhuri

4 жыл бұрын

Which is why no one wants to hire him.

This just in...the UK is the number one spot for banks now in 2021.

A shell game... Was a gimmick, which never got prosecuted

It's 2019.. Does anyone know if the FCC has acted on it yet?

@Yehuda4

4 жыл бұрын

Hosé TV! FCC....?

The unthinkable becomes thinkable everybody is out of their mind.

In every 60 minute documentary all the criminals look and act same

After you look closely to what's happening around you come to realize everything is just an act... people, companies and the state... just a movie playing in real life.

@Lousy_Bastard

4 жыл бұрын

Yes and politicians are paid actor's, democracy and having a vote is a scam too.

The stock market is totally corrupt

Repo 105 , how can SEC investigation team which conducted oversight of Lehman Bros fail to pick up on this con? We're they themselves bought ?!

the only way this kind of thing slows down is if people go to jails like san quin or terminal island....... plus put them in gen pop

The entire board should have gone to jail - its there job to know. - but they all walked away with hundrets of millions.

There should have been no bail out.

This was the same thing that they done in the movie call the accountant and that organization with the accountant was doing the assessment for they also remove the assets from the US jurisdiction any put on offshore account because they was going public

The hypocrisy of the law is sometimes impossible to understand particularly in the financial services industry especially when the government and the taxpayer are the insurers of last resort. And Lee is right when he says the financial services contractual opaqueness makes them inscrutable except to the drafters of these instruments . In sum it's like being in the Amazon thickets without a map a compass never mind gps. How could Fuld not know ? Maybe he did or did not understand the papers he was given or relied on the international shell game to deny what was evident. Deutsche bank employees manipulated the LIBOR rate but got caught . Fined. But you know how they think money in hand today is more important than money lost tomorrow. So 26,000 employees were left bereft of resources work and the taint of that association . But the real losers were the tax payers who had to fill the breach of hundreds of billions of dollars . Madoff wasnt enough .

The last statement says it all

This is great

If anyone is interested in a high quality tv style movie about this case, watch the 59 minute movie called "Bigger than Enron". There's quite a few pretty famous actors in the film. One is Nadia from American Pie, the girl who likes Jim. The main actor is also popular and is in a very popular show that I forget it's name.

justice only for ordinary citizen. Big guys won't get punishment at all. This is call Democracy. Good Job.

2:04 “yes”

who got hurt? - everyone but the people responsible and those who allowed it -

It was a wake up call then about the rich and we as a nation still haven't learned. Look where 2016 took us and here we are in 2020. We are a pack of morons doomed to repeat the cycles of ineptness until all the halls of government are rid of the stench and rancor of the rich, wealthy, powerful, connected people who know nothing of the life of the everyday American.

Too big for Jail!

great gravity...it's all broken. all of it.

“The Lord has made everything for its purpose, even the wicked for the day of trouble.” ‭‭Proverbs‬ ‭16:4‬ ‭ESV‬‬ “but the Lord laughs at the wicked, for he sees that his day is coming.” ‭‭Psalms‬ ‭37:13‬ ESV

SEC is a joke....they also ignored multiple warnings about Madoff

Thieves in high places made it impossible to prosecute future thieves. I'm a peasant so I wouldn't know anything about it.

Who is here after the Wirecard scandal blew up ?

lets remember that Lehman was not the only one involed in this it was everyone ... and no one went to jail.

Did we learn from it? I don't think so. Almost 12 years since this happened and there's a sign of recession.

@richardaguilar8582

4 жыл бұрын

What many people don’t know is that recessions are normal. They happen every ten years. You can trace this trend all the way back to the Great Depression. However, in 2008, because of Leman and AIG, there was a huge crisis that made every property lose value cause they couldn’t sell cause banks had no money to loan. Apparently this hadn’t happened in 70 years when it was the last Great Depression. Once in a lifetime moments. Unfortunately for me, I was too young to take advantage and it probably won’t happen again till I’m very old. Moral of my comment? Don’t let the media scare you. Recessions are normal and best believe Trump will do anything to prevent it. His presidency depends on it. So bank on it happening in 2020. Side note, idk how wars affect recessions but I will look into it. Me thinks Iran and US will go to war after Trumps re-election.

Greed and corruption.

No one ever gets punished!!!

It's the system but also the people don't change.

if you look at the sign and compacity of each one of the officers for Lehman Brothers they was in their proper status where they was alleviated for any individual wrongdoing of any sort

Since no one was prosecuted, could this happen again?

As of today May 1. 2021 has anyone gone to jail?