Monday videos: Predatory lenders

10/13/2008:

Hoboken411 posted some interesting financial videos prior to the recent economic implosion – including Money as Debt (brilliant!), The Dollar vs. Gold, and even Ron Paul’s perfect take on the economy.

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Maxed Out

Has anyone seen this documentary Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders?

Despite it coming out over two years ago – I happen to have caught this on Showtime a few days ago (now on The Movie Channel – and have to say it’s a sobering movie to watch, especially since the global economy has been seriously in the tank.

If you haven’t seen it yet – check this trailer out, then DVR it if you have TMC, otherwise rent it from the video store or Netflix (which I canceled recently – but it might be available to watch online…) Oh, and if you’re interested in purchasing the DVD – might as well buy it via Hoboken411’s Amazon.com affiliate account!

A similar full-length video about debt is below.

In debt we trust

“In America’s earliest days, there were barn-raising parties in which neighbors helped each other build up their farms. Today, in some churches, there are debt liquidation revivals in which parishioners chip in to free each other from growing credit card debts that are driving American families to bankruptcy and desperation. IN DEBT WE TRUST is the latest film from Danny Schechter, “The News Dissector,” director of the internationally distributed and award-winning WMD (Weapons of Mass Deception), an expose of the media’s role in the Iraq War.

The Emmy-winning former ABC News and CNN producer’s new hard-hitting documentary investigates why so many Americans are being strangled by debt. It is a journalistic confrontation with what former Reagan advisor Kevin Phillips calls “Financialization”–the “powerful emergence of a debt-and-credit industrial complex.” While many Americans may be “maxing out” on credit cards, there is a deeper story: power is shifting into fewer hands…..with frightening consequences. IN DEBT WE TRUST shows how the mall replaced the factory as America’s dominant economic engine and how big banks and credit card companies buy our Congress and drive us into what a former major bank economist calls modern serfdom. Americans and our government owe trillions in consumer debt and the national debt, a large amount of it to big banks and billions to Communist China.”

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