Generation Zero

In light of the book just put out by a liberal New York Times writer who draws many of the same conclusions the movie does -- and traces the problems back to many of the same decisions made by those in government getting rich off crony capitalism and holes in the regulatory structure they themselves put in place, I'd say our Canadian friend who gave this a one star review might want to put on his thinking cap next time before opening his big sneering maw.

A very nice visual addendum to that book, Reckless Endangerement.

The fact is, we didn't just get where we are by accident; and though many don't want to hear it, actual decisions made by actual politicians trying to control a business sector whose job it is to make profit led directly to the current economic crisis. It's easy to promise people everything they want, to tell them they deserve it, and to run on a platform of "the other side wants to take it all away from you." But the truth is, money has to come from somewhere, and the government can't produce wealth. It can only collect it, spend it, and redistribute it after taking its cut. The sooner people understand economics, the faster we'll be able to fix what ails us.

Cherry picking generality while purposely omitting facts does not make for an accurate documentary. Banks "too big to fail" and the collapse of the housing market came as a result of the deregulation of banking which started in 1978 under Reagan. TARP, while very flawed under Obama, was started by Bush. Bush also cut taxes while opting to take the US to war in Afghanistan & Iraq. More spending with less revenue results is a bigger problem. Plenty of mistakes have been make by both sides. The sad reality is that the primary role of an elected official is to raise funds to get re-elected. Doing what's correct is a career ending move. Instead of spending money on this drivel, give that money to charity (not a PAC).

For all those who felt this film is just more right wing propaganda based on zero facts, I would appreciate their individual explanations calling out who, what, when, where, how and why we are now facing our "fiscal cliff" and potential economic meltdown.

It is one thing to scream "propaganda" from a shallow emotional perspective however; without providing some intelligent facts to reasonably explain your opposite viewpoint or perspective, you just appear to parroting back a completely uninformed response of "No, that's not it!" Please explain what you know factually - not emotionally - are the root causes of our fiscal cliff and potential economic meltdown.

Wow, i've never seen such a ridiculous piece of right-wing propaganda in my life. With a straight face, they actually try to make the case that the 2008 financial crash was the fault of...get this... 1960s hippies. Yes, you heard me correctly, it was The LIBRULS!!11!!!!!1 The crash didn't happen because of deregulation, corruption and financial deepening - no, it was because Americans lost their 'morals' and began consuming conspicuously. that's right. the consumer's fault. we did this. oh, and the democrats, of course.....and the Chinese for some reason.

This is a sad attempt to say that this wasn't capitalism's fault - that it was a perversion of capitalism with too much government intervention.

Disclaimer: I'm a former hedge fund guy.

Did I see the crash coming? Yes, but barely.

My fund, and a fund I represented, had mucho skin in game tied to domestic interest rates and LIBOR. So, I wanted...willed...all to be fine.

Didn't work.

1/6 of all hedge funds crashed, and didn't cost the tax payers a penny. Like a noncompetitive mom&pop restaurant, they were correctly left to fail.

Core of crash was three-pronged:

1: Federal Reserve: They've created boom/busts for 100 years. How? Just as Soviets couldn't centrally plan the price of a pencil, wheat, or gold, no one on earth can correctly centrally plan the price of money.

2: Federal Government: Goes back to the Community Reinvestment Act, forcing banks to lend to people, regardless of credit rating. Hey, I want ALL people to be rich. But, selectively punishing banks for not lending "enough" to certain racial groups is evil, anti-market, and proved to be, destructive. Banks love to lend...love it, and care not of one's race, gender, or sexual orientation. They absolutely do care if one can pay back a loan.

Think I cared the race of my clients investing $5 million, $1 million, or even in my entry level fund, $250K?

3: Wall Street(creation of CDOs etc), rating agencies (rated garbage as "A"), and Fannie and Freddie (bought garbage mortgages,and therefore, encouraged them) played huge role in this mess too. But, without items 1 and 2, 3 would have been impossible.