where: CINE ARTS @ PLEASANT HILL in Pleasant Hill, CA
when: Wednesday, November 3rd, 2010
show: 9:45 p.m.
costs: $10.00 Ticket + $5.50 small Popcorn w/ Butter + $4.00 small Diet Coke + $5.00 Benicia Bridge Toll = $24.50
auditorium: 4
seat: 5th row, 6th column, left section
synopsis/overview: The greed of Wall Street CEOs led to the global financial collapse of 2008. But it was a long time coming as regulatory agencies turned a blind eye at what was happening until after the meltdown. Then, and only then, did they start pointing fingers. And, at the end, nobody was left holding the bag but the borrowers who couldn't afford to pay their loans in the first place.
noteworthy scenes: 1.) Sweden; 2.) September 8th, 2008; 3.) Lehman; 4.) AIG; 5.) Deregulation of Savings & Loans; 6.) Derivatives; 7.) Sub-Prime Loans; 8.) Collateralized Debt Obligations; 9.) Predatory loans; 10.) Credit Default Swaps; 11.) "Shitty deals"; 12.) Rating agencies; 13.) Opinion; 14.) FBI report; 15.) Investment Grade ratings; 16.) Bail-outs; 17.) "Calm the markets"; 18.) Tent City; 19.) Book: TWO TRILLION DOLLAR MELTDOWN; and 20.) "Wall Street Government" of the United States.
audience reaction: N/A. I was the only one in the auditorium.
recommendation: This is one highly recommended documentary. You must go see it!
spoiler alert! It's hard to follow along if you don't know much about the financial institutions/markets. You have to have a degree in Business and/or Economics to fully appreciate this movie's message. Some of the stuff that they were talking about were way over my head. I should get a copy of the script so that I can read and understand all the vital information set forth.
fyi: Back when mortgage lenders were hyping-up Sub-Prime Loans, even I could smell that something fishy was going on because the whole thing didn't make sense at all!
The Great Depression was caused by foreign countries reneging on their debt obligations when the US banks decided to "call-in" their loans.
word of advice: Apparently, White Collar Crime not only pays but pays well with dividends!
tidbits: I wanted to see this movie last Sunday, but I was at Hector's place in Oakland to watch the World Series. After that, they asked me to stay and watch UNDERCOVER BOSS, and I obliged them. At which point, there was no way for me to catch the last show at all anymore.
