I cannot download any version after 1.7.1

What I believe should happen is when I create a new account and press "Download and play" it should download.

What really happens is it starts the loading bar but then the bar disappears and I can't play the version I was trying to download

1. Open the Minecraft 1.2.8 launcher
2. Create a new profile called 1.7.2 and select the 1.7.2 version
3. Save and try to download the 1.7.2 version

Step 3 is when the problem is seen.