Big surprise. It certainly is tragic that people loses their homes. But if banks just stopped collecting then why would people pay off mortgages? In local situations it might be possible for exceptions to be made, where local banks can be more understanding, but that falls on the homeowner in choosing where they get their mortgage.
Moore may argue that this type of system is unacceptable. Moore goes into the homes of ordinary people whose lives have been turned upside down; and he goes looking for explanations in Washington, DC and elsewhere.
What he finds are the all-too-familiar symptoms of a love affair gone astray: lies, abuse, betrayal Capitalism: A Love Story also presents what a more hopeful future could look like.
Who are we and why do we behave the way that we do? Film-maker Michael Moore begins this revealing documentary with the Roman Empire, and the beginning of greed. He takes the viewer to an era of American well-being without any competition from post-war Germany and Japan; prosperity; end of slavery, and the introduction of the Second Bill of Rights by President Franklin D. But before this inclusion Roosevelt passes away, and the nation spins into anarchy, with indolent, right-winged, self-seeking politicians forming an unhealthy nexus with Corporations, and Wall Street, leaving the vulnerable without employment and health insurance, while putting billions at the disposal of banks and insurance companies - leaving them free to distribute this wealth amongst their executives without any conditions and audits, as well as portraying Barrack Obama as a Socialist.
In this regressive era employers exploit their employees by paying them the minimum, but insuring them for large amounts, naming the organization as the beneficiary, demonstrating that they are more valuable after their demise. But Michael Moore was right that the mortgage area needs serious regulatory reform in order to make mortgages very transparent.
There is no reason they have to be so complex. You could have a one-page summary of the key terms of any mortgage. Still, as far as the mortgage crisis goes, again, he was very selective.
He talked about the people who already owned these homes and refinanced them. They were enticed to borrow against their homes with a new type of mortgage where they paid a teaser low rate followed by a jump in rates later on.
But what he does not mention is that most of the mortgage busts are not coming from people who were refinancing homes that they already owned. A lot of people wanted something more than they could afford. I can criticize the banks for their lack of transparency, but the people themselves should also be criticized. Many of his other examples against capitalism are also easy fixes on the regulatory side — including his section on the juvenile detention center in Pennsylvania.
And the right outcome eventually happened: The judges and others involved were caught. In fact, the public sector also lends itself to corruption, especially when [it involves construction]. Building contracts are often given to campaign contributors, money is sometimes funneled back to members of Congress through their participation in a third-party business and so forth.
A private firm, in contrast, does not have as much incentive to overspend on construction because it cares about the bottom line. He blamed the pay cuts and pension reductions by airline companies as the main reasons. Smetters : The real problem there is that airlines have enormous legacy overheads, including generous defined benefit programs. So they have these enormous costs.
They are already paying out a lot in employee compensation. The big difference between today and 30 years ago is that the airlines are now deregulated. So we have a lot lower prices than we had. But Moore never discussed how much profit these airlines are actually making.
Are there a few fat cats making a lot? There is not a lot of evidence that they are. So this is, again, another example of Moore being selective. Knowledge Wharton : What about the part in the movie that showed the crash of the commuter plane outside Buffalo, N.
Do we want to be in a plane at 30, feet that is flown by people who are perhaps not as alert as they should be? Smetters : Pilots are not allowed to fly for too long. The airlines limit their hours, including the hours that they are on the ground but inside the cockpit. But the problem is we have a lot of people who really enjoy flying. So what should we do? Do we want to start restricting the number of people who want to be artists or pilots in order to boost their wages?
See this movie and tell your friends. Details Edit. Release date October 2, United States. United States. Michael Moore Official Website. English Russian Spanish. The New Movie. Box office Edit. Technical specs Edit. Runtime 2 hours 7 minutes. Color Black and White. Dolby Digital.
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