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Join Date: Jun 2003
Location: UK
Posts: 31,544
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http://en.wikipedia.org/wiki/Capitalism:_A_Love_Story
Quote:
The film alternates between a fierce critique of the status quo, personal portraits of the suffering caused by the recent economic crisis, and comical social satire. The film begins with a series of security footages of armed bank robberies (one of the robbers was even on a crutch) accompanied by the song "Louie, Louie". Moore then uses an Encyclopædia Britannica archive video to compare modern-day America with the Roman Empire. The film then depicts home videos of families being evicted from their homes, as well as the "Condo Vultures," a Florida real estate agency whose business flourished with the increasing number of foreclosures.....
The film then cuts back to the past "golden days" of American capitalism following World War II, followed by a "bummer" speech by President Jimmy Carter warning Americans of the dangers of worshipping "self-indulgence and consumption". In the following Reagan years where the policies of Don Regan "turned the bull loose" for free enterprises, corporations gained more political power, unions were weakened, and socioeconomic gaps were widened. The film then cuts to the kids for cash scandal, Captain Sullenberger's congressional testimony regarding airline pilots' poor treatment, and the exposé of "dead peasant insurance" policies that have companies profiting from the deaths of their employees. Moore then interviews several Catholic priests, including Bishop Thomas Gumbleton (Archdiocese of Detroit), all of whom consider capitalism contrary to the teachings of Christianity. The film then presents a mockery of what would happen if Jesus was a capitalist who wanted to "maximize profits," "deregulate the banking industry," and wanted the sick to "pay out of pocket" for their "pre-existing condition," in contrast with several news pundits who proclaim the success of various capitalist enterprises as being a "blessing from God."
Moore discusses his own spiritual beliefs as a Catholic, and questions whether Jesus would belong to a hedge fund or sell short. His conclusion, which he elaborated on in more detail after the film's release, is that "you can't call yourself a capitalist and a Christian, because you cannot love your money and love your neighbor."[3]
The film then features a leaked internal Citigroup memo[4] happily declaring the United States a "plutonomy" (a society "where economic growth is powered by and largely consumed by the wealthy few"), with the top 1% of the population controlling more financial wealth than the bottom 95% combined. The same report also raises the concern of "societies demanding a more 'equitable' share of wealth". Moore then interviews Wall Street Journal columnist Stephen Moore (no relation), who believes "capitalism is a lot more important than democracy". The film then cuts to codetermination worker cooperatives like Wisconsin's Isthmus Engineering and California's Alvarado Street Bakery, which are owned and run democratically by their employees, as alternative models to the current capitalist system.
After referring to Dr. Jonas Salk, who selflessly refused to patent the polio vaccine for the public good (sarcastically asking, "Could you patent the sun?"), Moore wonders about how the brightest of America's young generation are attracted into finance instead of science. Moore then goes to Wall Street seeking technical explanation about derivatives and credit default swaps, only to be advised "don't make any more movies". Eventually Marcus Haupt, a former VP of Lehman Brothers, agrees to help but fails at clearly explaining these terms. Harvard professor Kenneth Rogoff similarly fails. Moore eventually concludes that the complex system and terminology are merely there to confuse and "get away with murder", and Wall Street is just "an insane casino."
Moore then explores the role of Alan Greenspan and the U.S. Treasury in leading up to the United States housing bubble that devastated the American middle class. Moore also interviews a former employee at Countrywide Financial responsible for their VIP program for "FOAs" and details how many members of Congress and political figures received favorable mortgage rates under the program. Moore then discusses with William Black, who analogizes the situation to the build-up of the collapse of a dam. The film then shows the series of events leading up to the passing of the 2008 bailout proposed by Treasury Secretary Hank Paulson (also the former CEO of Goldman Sachs). Moore then speaks with several Members of Congress, including Ohio congresswoman Marcy Kaptur, who agrees with Moore's comment that the passing of the bailout is a "financial coup d'état".
Moore interviews Elizabeth Warren, the head of the US Congressional Oversight Committee, the government agency serving as a watchdog for Congress' wrong-doing and investigating Congressional "oversights" (mistakes). He asks her, "Where's our money?", referring to the $700 billion bailout money which Congress gave to the big banks and Wall Street investment companies. There is a dramatic pause and Warren replies, "I don't know." Advised by Warren to contact Paulson's office for answer, Moore's call is promptly disconnected upon recognition of his identity. He then goes to Wall Street demanding to "get the money back for the American people", but is denied entry into every office building of the major banks.
The film then shows the events leading up to the 2008 U.S. election, where branding of capitalism and socialism occurs as part of the Republican scare campaign, which was ultimately unsuccessful. Barack Obama is swept into office, and Moore expresses hope that this election might turn things onto the right track. He documents an incident in Chicago shortly after the election where laid-off workers decided to take up residence inside their former workplace as a protest, demanding the severence pay they had been denied. After President Obama declared his support for the workers, many people showed up to aid their protest, which was ultimately successful. The film then contrasts the present economic reality in America with the policy of US president Franklin D. Roosevelt, who supported the similar Flint Sit-Down Strike in 1936 - 1937. Moore also includes long-lost archival footage of FDR in 1944 calling for a Second Bill of Rights that would guarantee all Americans "a useful job, a decent home, adequate health care, and a good education."[2] It is shown that after his death the following year, World War II was won by the Allies and many of the defeated nations were given the rights proposed by FDR, but Americans were not. The film then jumps ahead 60 years to show the devastation of Hurricane Katrina, which Moore suggests would have been less severe were it not for the economic system which made Wall Street rich while forcing residents of New Orleans to live in a poorly-maintained neighborhood.
The documentary features a number of positive portrayals, which include bailout watchdog Elizabeth Warren, Wayne County Sheriff Warren Evans, who put forth a moratorium on home evictions, and Ohio Representative Marcy Kaptur, who on the floor of the US Congress encouraged Americans to be "squatters" in their own homes, and refuse to vacate.[2]
The film closes with Moore placing police lines around numerous banks, and lastly, Wall Street itself. In his closing speech, Moore declares that capitalism is an evil which can only be eliminated and replaced with the goodness of democracy - rule by the people, not by money. He asks all those who support his beliefs to "speed it up", mimicking the infamous phrase said by Don Regan to Ronald Reagan during one of the latter's speeches.
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