Capitalism: A Love Story

Controversial documentarian Michael Moore has taken on some important news topics over the past two decades but perhaps none has affected every American more than the financial meltdown of Wall Street in 2008 as depicted in Capitalism: A Love Story. Done in his customary style of news clips, interviews, and enactments, he has fashioned a convincing indictment of greedy bank executives while being engaging and at times enlightening.

He points out a startling fact: We used to be one income family, Wall Street and corporate profits were guided by sound principles, and our country had no business competition. It's a kind of history lesson courtesy of Moore as he also notes parallels between the demise of Wall Street and that of the Roman Empire, a comparison not without merit. His thesis is that since President Ronald Reagan came into office, the influence of Wall Street has increased to the point that, while Congress and the U.S. Treasury have promoted financial deregulation, many of them have direct links to financial giants such as Goldman Sachs. It would seem on surface to be a major conflict of interest, and that is the point. A handful of CEO's have benefited from running the country as a corporation and costing millions of jobs and livelihoods.

Moore ties news stories to an increasing pattern of corporate greed. There is a juvenile facility in Pennsylvania financed by taxpayer money and corrupt public officials. There are college students beholden to banks with student loans, and we witness news reports of a recent plane crash in Buffalo, New York, for what appears to be the lack of funds for safety issues. Then there is the surprising practice of businesses like Wal-Mart that take out life insurance policies on its employees and collecting on the benefits. By contrast, he does show examples of companies owned by workers that operate efficiently and at a profit. His point is there can be win-win situations.

As Wall Street sold 'derivatives', a risky form of corporate gambling, Federal Reserve Chairman Alan Greenspan suggested that Americans tap the equity in their homes, and thus came the refinance boom for banks and a new found wealth for the masses-or was it? Using a home like a bank was a formula for financial disaster as the housing industry collapsed with foreclosures and the banking industry fell too. Moore makes his point with footage of actual foreclosures as sheriffs evict homeowners, and the cruelty is not only losing a home but in the cottage industry that has taken advantage of this agonizing process. Added to this is the preferential treatment that CEO's gave to each other and many lawmakers regarding mortgage approvals. The question that keeps being asked by Moore and others is 'where were the regulators' in all this?

As Congress debated on how to repair the economy with a bailout of as much as $700 billion of taxpayer money, Wall Street used media abetted fear to manipulate lawmakers. It was a politics of fear. But not everyone was buying into the fear. Some members of Congress were brave enough to tell a sobering tale of a lack of oversight versus corporate bonuses being fed by the bailout.

Moore shows that some people are fighting back. A new President (Obama) ushers in the potential for change. People are fighting foreclosures and forcing banks to prove chain of title. The laid off workers at Republic Doors refused to exit the factory, and with media coverage and a supportive President, Bank of America caves in and agrees to pay the workers what is owed to them. This event is not without precedent as Moore points out in 1936, workers at a GM Flint, Michigan plant also fought back. In an ironic, fascinating piece of history of what might have been, President Franklin Roosevelt proposed but never lived to see a second Bill of Rights which would address virtually every important concern for Americans including health care, education, and financial security.

Then Moore makes this observation based on a private corporate memo that says 1% of the population in this country has 95% of the wealth but that the other 99% have an equal vote and the power to make changes (yet still hope to be part of the rich). It is this equal vote that scares the corporate powers. His conclusion is that the only hope for this country is for democracy to work.

Some things don't come off well in the film; Moore appears to be grandstanding when he rents an armored car to make a citizen's arrest of the CEOs of Wall Street and get back the public's money. He even takes crime scene tape to cordon off bank doors. Also, an interview with actor Wallace Shawn seems a bit out of place. Wouldn't an interview with an industry insider have worked better? You may not agree with everything Moore espouses, but some of the information should cause anyone to research the facts and draw their own conclusions. If you are a fan of his previous films Sicko or Fahrenheit 9/11, then you will appreciate Capitalism: A Love Story.

I seen a couple of Micheal Moore movies in the past and although I didn't agree entirely with what those films try to convey. But what those films did was got me thinking and thus I decided to check this movie out. This is a well crafted documentary and a important film that should be watched by many viewers. It's one of those movies that keep you thinking about today's economy and society after it's over. I don't want to get too deep into the issue and even if the viewers agree or disagree or somewhat agree and somewhat don't, it will keep the viewers thinking. And it can even be powerful sometimes. Even if the viewers know a lot about the issue that is going on such as "rich getting richer and poor getting poorer". But the way it covers the issues make it leave more of a impact and will probably want to deeply know more about the issues that this movie covers. I personally thought this movie covers the points really well while covering some powerful issues of greed. Especially how people commit crimes against humanity the legal way.

8.3/10

He took on our nation's obsession with guns in BOWLING FOR COLUMBINE. He took on the politics of Bush/Cheney fear mongering in FAHRENHEIT 9/11. He even took on the health care insurance industry in SICKO. And once more, the tenacious rabble-rouser from Flint, Michigan, Michael Moore, takes on the powers-that-be in a cinematic broadside that needs to be seen--CAPITALISM: A LOVE STORY.

In this new opus from the man who has always gotten under the skin of the nattering nabobs of negativity on the Far Right, Moore posits some very chilling questions about our system of Capitalism: Is it really intrinsically evil? Should it be abolished? And he does so with the kind of simmering populist outrage that has been his stock-in-trade since his 1989 breakthrough ROGER AND ME (which is in fact part of the archival footage he uses here). In it, he details how America's financial system got overheated by deregulation and predatory loan practices that struck at the heart of the poor and middle class, the ones who actually make up the heart and soul of America and who are always the most vulnerable, leaving the rich to walk away with billions in taxpayer bailout money. It also shows us how corporate greed, far from enriching our lives, has actually corroded them, and subsequently corroded our political system so that the villains of this whole scheme are the same ones that buy off our elected representatives to sit there and save their sorry behinds.

But for each horror story he tells us (and there are many, make no mistake), there are stirring examples of common people standing up against the faceless corporate bullies and exercising their democratic rights (what a novel concept!): homeowners in Miami who refuse to budge from a foreclosed home; union workers in Chicago who refuse to leave their place of employment, a manufacturer of doors and windows, even after Bank of America has foreclosed; people in Congress who have finally had enough and scream "BULLS**T!" to the corporate interests.

All of this may seem like Moore is going to his usual excessive lengths to make his point, particularly when it comes to the idea of abolishing the capitalist framework altogether--a pipe dream, if ever there was one. But when doing a satirical documentary like this, a little excess can go a long way to expose some hidden truths about our country; and the fact that Moore exposes truths that we either disagree with or don't want to know about inevitably makes him a target for blind followers of the Far Right and the Palin/McCain/Joe The Plumber sect, whom Moore once again is able to skewer with their own words. And he doesn't go so easy on Bill Clinton's administration either, as several members of that administration themselves were involved in setting up the self-fulfilling prophecy that led to the near-complete collapse of the American economy in 2008.

It was Michael Douglas' character Gordon Gekko who, in Oliver Stone's hard-hitting 1987 film WALL STREET, said to the audience at a stockholders' meeting: "Greed, for lack of a better word, is good. Greed works!" Well, as CAPITALISM: A LOVE STORY shows, just the opposite is true. It is unrestrained greed and unrestrained fear that pushed America to the brink of total economic meltdown. And it is those same elements that have led Moore to the conclusion that Capitalism is evil. If he is wrong in his conclusion, then it is unfortunately not by much. And that is why CAPITALISM: A LOVE STORY should be seen. We may not be able to abolish the capitalist system that has kept America a world power, but unless we do fundamental things now to place regulations on those that profit from greed, fear, and predatory behavior, then America may one day in the future go over the edge into the abyss with no hope to recover its lost greatness.

1. You know the document Hank Paulsen "forced" the top 9 banks to sign to take billions in dollars in a one page letter? Did you know it contained one sentence, "This agreement cannot be reviewed by any court" clause, putting all of them above the laws you and I have to follow or be jailed? This one minute of the film is worth the price of the ticket. It conclusively proves the corruption, fraud, and taxpayer theft going on right before our eyes by our congressional representatives. 2. Delete a few f**ks, and this would be a "G" rated movie. Why would Michael Moore accept a very undeserved "R" rating? 3. Every fact stated in the movie can be proved. So why do his critics say he lies just to make money? Every moviegoer has been affected by the facts so brilliantly portrayed. Yet they prefer keeping their heads in the sand while their grandchildren are saddled with so much phony debt. 4. Michael didn't include it, but Goldman Sachs' tax rate last year was One Per Cent of their profits. Try paying a one per cent tax rate on your earnings and see what happens. 5. See this movie and tell your friends.

I wasn't sure what to expect, but I was very impressed with the combination of comedy, tragedy, and historical explanation. Yes, there is a bit (or more) of playing to the camera by Moore himself--however, I enjoyed the grandstanding--kind of an investigative revenge fantasy to physically call attention to one of the biggest crime scenes ever. While the use of 1950s instructional film segments is played for laughs, other historical footage is literally breath-taking. My NY audience was utterly silent when we saw what FDR wanted to do, and might have done, had he lived longer. MY REQUEST, at least for the DVD version, would be to have more labels on the lesser-known political figures, so we could more readily identify the few, brave souls who spoke out in vain. I plan to see it again.