The Untouchables Program Critique - Assignment Example

The legal system failed as they could not prove beyond reasonable doubt that the executives had an element of the crime (30:43). Additionally, the government failed to convince the jury that the executives were guilty. Even though, there was sufficient information that could indict some of the executives such as offering defective loans to investors.

The system failed as there was not enough effort to hold anyone accountable for the allegations of Wall Street. These kinds of cases were hard to prosecute as they had no proof of criminal intent (43:00). I do believe that changes in investigations would yield results such as the one Patterson Belknap Webb & Tyler law firm investigations were able to file what seemed like the core credit evidence. Also, Mark Palmer had many other suits against Bears and other Wall Street banks for fraudulent mortgages they sold (40:58).

The mentioned firms sell fraudulent mortgage-backed securities to investors. This action almost crippled the U.S. economy. It was difficult for the government and the Justice Department to prosecute firms’ executives as it would bring some economic effect. Additionally, some counterparties would be affected which had nothing to do with the crisis.