“Fascism should rightly be called corporatism, as it is the merger of corporate and government power.” ~ Benito Mussolini
Now that we are pushing the three years anniversary of the dramatic financial events of September 2008, it is fair to say, for anyone who has researched the subject on their own, that this movie is nothing but a popularization of the mainstream version of a crisis that only has been postponed and worsened. It portrays the criminals of the revolving door between Washington D.C. and Wall Street as heroes, without so much as touching upon the real reason for the boom and bust phenomenon.
Let’s dissect the movie scene by scene.
The introduction shows the Clinton administration repealing Glass-Steagall and how home ownership all of a sudden became a part of the American dream. How Bush Jr. meant that inflating the largest mortgage bubble in history was “good not only for the soul, but also for the pocketbooks of the country.” Several news clips are shown, none of which include the accurate warnings given by free market economists such as Peter Schiff or Jim Rogers. Surprised talking heads announce how Bear Stearns are being sold for pennies on the dollar to JP Morgan before the story kicks off in Lehman Brothers’ CEO and Chairman Dick Fuld’s office.