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This picture,

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truly one of the most
unusual ever filmed,

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contains scenes which
under no circumstances

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should be viewed by anyone
with a heart condition

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or anyone who is easily upset.

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We urgently recommend

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that if you are such a person
or the parent

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of a young or impressionable child
now in attendance,

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that you and the child
leave the auditorium.

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- ( rock music playing )
-  Yeah

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Louie Louiewhoa baby

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I gotta go now

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Louie Louiewhoa baby

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I really gotta go now

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The Communist world
is fallin' apart

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The capitalists
are just breakin' hearts

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Money is the reason to be

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It makes me just
wanna sing Louie Louie

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Louie Louiewhoa baby

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I gotta go now

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Louie Louiewhoa baby

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I really gotta go now

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Some say it will,
some say it won't

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Now you see it,
now you don't

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We spent all our money
on a disaster movie

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It makes me wanna sing
Louie Louie

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Louie Louie whoa baby

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I gotta go now

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Louie Louie whoa baby

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I really gotta go now

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Oh, let's give it
to 'em right now.

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( trumpet playing )

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Narrator:. Rome was the largest
and the most beautiful city

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of the ancient world.

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The magnificent facade
of the empire, however,

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could not conceal
the seeds of decay,

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the unhealthy dependence
of the economy on slaves,

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the disparity between
rich and poor.

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Behind the splendor
of the Forum

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were vast areas
of crowded slums.

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Escape from the slums was difficult
for there were few jobs available

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and practically none
for the unskilled.

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To keep idle citizens entertained
and out of mischief,

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frequent games and spectacles
were held at public expense.

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At first, only chariot races
were sponsored.

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But by the reign of Trajan,

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brutal combat to the death
had become popular.

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Earlier in Rome's history,

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elected representatives
exercised the power.

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But by now,
every function of government

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had been absorbed
by the emperor

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who was above the law
and ruled by decree.

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That a people as civilized
as the Romans,

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with the most humane
system of law ever devised,

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could tolerate the violation
of human beings

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is astonishing.

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This imbalance
and the irresponsible behavior

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of public officials
would become major reasons

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for Rome's eventual decline.

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Michael Moore:. I wonder how
future civilizations will view our society.

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Will they judge us by this?

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-  He's a cat flushin' a toilet...
- ( mews )

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He's a cat flushin' a toilet,
he's a cat flushin' a toilet

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He'sacatflushin'atoilet

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( mews )

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Moore:. Or will they
judge us by this?

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Man #1 :
Do you see the sheriff's car?

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Man #2: Yeah, right there.
The sheriff-- that's the first car.

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- Woman: No--
- There he is.

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Man #3:
Three, four, five, six...

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Woman: Seven.

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- Man #1 : Give me the phone.
- Woman: It's on this--

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it's on the c--
it's on the couch.

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All right, that's as close
as I can get, Dad.

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- Don't stand in front of the door, Dad.
- ( knocking )

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( whispering )
Get out from the--

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Hey, Sheriff, Robert
inside the house here.

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- ( knocking )
- ( loud banging )

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Woman: They're trying to beat
the back door in, Dad.

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( loud banging )

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There are four of us in here.
They're beating on the door.

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We're not gonna resist,
but you will have to come

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in the house on your own.

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But there are four souls
in this house.

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Woman: Dad, don't stand
in front of the door.

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- Do not.
- ( doorknob rattling )

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( banging continues )

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Woman:
Another witness.

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Tell your name to the camera.

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- I'm David Phillips.
- Chris Collins.

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AndAudraCollins

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( banging continues )

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- David: And this is America?
- Chris: Uh-huh.

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Audra: This is America, folks,
what you're watching right here.

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- Sheriff's office.
- Robert: Yeah, we know.

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- Okay, y'all have to come out, please.
- Robert: All right.

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Woman: We cannot act like this--
this is just something that's okay.

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And sothis is new.

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They've never come out
and boarded up our house

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after they've evicted the person

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and threw their furniture
in the dumpster.

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So they're letting us know

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that they are stepping it up,

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boarding up somebody's house.

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This has been my family home.
This is my parents' house.

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I've lived here for 41 years.

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This is the only home
I've ever really lived in.

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This is the only-- this will always
be home to me, no matter what.

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- I'm a carpenter.
- Woman: There you go.

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Man #1 : Sandra, they're leaving.
Let them leave.

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- Man #2: I'm a carpenter. So what?
- That's all I am.

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- Well, people pay their bills.
- This could happen to you.

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Carpenter: That's right.
So why do you think I'm doing it?

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I don't have to be happy about this,
but that's what I do.

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Sandra: That's all I'm saying is that
maybe you can make another choice.

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- That's all we're saying.
- That's no reason for...

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Sandra:
You're a working-class person.

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...people here to get upset
and almost get themselves hurt.

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We ain't gonna get hurt.

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Are you threatening us?

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Y'all gonna get on out of here.
You might end up even getting hurt.

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Talking about us getting hurt,
you might get hurt.

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Man: There's gonna be
some kind of a rebellion

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between the people
that have nothing

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and the people that's got it all.

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I don't understand.

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There's no in-between no more.

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There's the people that's got it all

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and the people that have nothing.

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We gotta get this stuff
out of the house and packed up

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and be out of here
in about 30 days

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even though we don't
have a place to go.

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Oh.

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Woman:
We designed this house.

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The property that it's on
was my family farm.

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So I've lost a piece
of my heritage with this.

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Why do you do this
to the hard-working people?

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Why do you take everything?

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You take everything
away from them.

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We're just middle-class,
hard-working people

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trying to make a living.

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Just trying to survive.

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An old Browning.

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( grunts )
My pistol,

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my dad's pistol, my pistol.

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( sighs )

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- ( knocking )
- Man: Sheriff's department.

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It's supposed to be 30 days.

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I got 30 days to get my stuff out.

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- That's what the guy told me.
- No.

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What?

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It's currently scheduled for today.

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But...

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The paper's telling us
that we are due

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to do an eviction here
today at 9:00 AM.

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Huh, shoot.

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Well, he's surprised too.

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The house is gone.

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That cop told me that the house

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has already been sold
to somebody else.

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So we don't own the house no more,
somebody else does.

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Moore:
This is capitalism,

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a system of taking and giving--

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mostly taking.

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The only thing we didn't know

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was when the revolt would begin.

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Man: Everything,
we've tried everything...

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except robbing a bank.

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I'm thinking about
maybe doing that.

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You know, that's one way
somebody could get their money back.

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If they did it--
they did it to me,

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I don't know why
I can't do it to them.

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Peter Zalewski:
This is my second Hyundai Sonata.

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I'll probably get a new car next year.

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And when I do,
it'll probably be another Sonata.

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You know, I'm not a car guy.

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If I can go in there
and steal a condo

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for the equivalent of what
a Mercedes would cost

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or a Bentley would cost,
I'm all about that.

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Moore:
Meet Peter Zalewski,

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Florida's up-and-coming
real estate whiz.

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Here we go.

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Moore: He calls his
real estate company Condo Vultures.

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( stuttering )
We have a very good sign.

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You have the final notice
of eviction.

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So you can see this person
was basically thrown out

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by the police department.

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Welcome.

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Moore:
Peter deals exclusively

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with clients who buy up
foreclosed homes

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and then resell them at a profit.

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It's gonna be about
830 square feet or so...

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At the end of the day,
the only people who are buying

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are primarily individuals
that we represent...

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Today it's on the market
for $66,000.

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...which are basically bottom feeders
who are going in there.

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They have no compassion,
no sensitivity.

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They're running purely off numbers
They're coming in all cash,

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and they're looking to slit
any single seller's throat

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00:11:31,424 --> 00:11:33,517
regardless of what
their situation is.

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So people always ask,
"What's 25c on the dollar?"

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This is it.
This is what you're gonna get.

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The vulture basically represents
a bottom feeder

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that goes in there
and cleans off a carcass.

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Because they're dealing with
so many different germs and situations,

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they'll have to vomit on themselves
and there's some sort

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of cleansing process that occurs.

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00:11:51,110 --> 00:11:52,975
The vultures
aren't actually killing,

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00:11:53,012 --> 00:11:54,775
they're the ones
doing the clean-up.

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Which bank you want?
Bank of America?

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What we do is we tap into data...

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and boom, voila.

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Here we got 3,400 foreclosing
by Bank of America.

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00:12:03,289 --> 00:12:04,756
Gotta love it.

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00:12:04,790 --> 00:12:07,315
As we collect data,
it's giving us

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00:12:07,359 --> 00:12:10,089
the insight into the battlefield,

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00:12:10,129 --> 00:12:13,496
almost like a drone that flies
over the battleground in Afghanistan

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00:12:13,532 --> 00:12:16,501
or in Pakistan or in lraq.

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00:12:16,535 --> 00:12:18,696
The current asking price is 355.

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00:12:18,738 --> 00:12:20,797
Again, it was purchased for 840.

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00:12:20,840 --> 00:12:23,138
A little bit of a discount.
You're gonna have two...

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Our people are using
that data to be able to go in

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00:12:25,311 --> 00:12:28,303
and try to steal properties,
legally and ethically,

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but take them at the bare-bone
bottom price.

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00:12:30,416 --> 00:12:32,384
It's all about taking right now.

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00:12:32,418 --> 00:12:35,319
Look at the-- look at the roof--
completely gone and missing.

227
00:12:35,354 --> 00:12:37,822
We haven't had a hurricane
in five years.

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00:12:37,857 --> 00:12:39,882
( laughing )

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00:12:39,925 --> 00:12:42,450
Welcome to the housing crash,
Miami style.

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So this-- this is what capitalism is

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and this is why the information
is so critical.

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00:12:46,432 --> 00:12:47,990
We go in there,
we alert them to it,

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00:12:48,033 --> 00:12:49,523
and if they like it, you know--

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00:12:49,568 --> 00:12:51,536
( imitates shotgun )

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00:12:51,570 --> 00:12:53,003
- Look at the window.
- Look at that.

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00:12:53,038 --> 00:12:54,801
Looks like the house
next door was on fire.

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This is straight up capitalism.

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- Fire damage.
- I wonder if somebody was living there...

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Zalewski: Everybody's got
this desire to go in there

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00:13:01,313 --> 00:13:03,747
and take advantage
of others' misfortunes.

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00:13:03,783 --> 00:13:04,909
Somebody asked me,

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00:13:04,950 --> 00:13:07,111
"What's the difference between
you and a real vulture?"

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00:13:07,153 --> 00:13:09,986
I said, "It's very simple.
I don't vomit on myself."

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00:13:12,358 --> 00:13:15,418
Our topic today:
What is capitalism?

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00:13:15,461 --> 00:13:16,621
Capitalism?

246
00:13:16,662 --> 00:13:19,130
Well, why should there be
any question about it?

247
00:13:19,165 --> 00:13:22,623
Hasn't it given us the highest
standard of living in the world?

248
00:13:22,668 --> 00:13:25,398
We're free to try to make a profit,

249
00:13:25,437 --> 00:13:27,735
to just get by, or to fail.

250
00:13:27,773 --> 00:13:29,764
That's what capitalism is:

251
00:13:29,809 --> 00:13:32,300
a system of free enterprise.

252
00:13:32,344 --> 00:13:34,642
Now tell us what
"free enterprise" means.

253
00:13:35,915 --> 00:13:38,315
Moore: I went to see
my friend Wally Shawn,

254
00:13:38,350 --> 00:13:40,545
a playwright
and sometimes actor.

255
00:13:40,586 --> 00:13:42,110
Inconceivable!

256
00:13:42,154 --> 00:13:45,385
Moore: But Wally also studied
history and politics

257
00:13:45,424 --> 00:13:48,291
and even a little
elementary economics.

258
00:13:48,327 --> 00:13:52,593
Free enterprise
is a form of words

259
00:13:52,631 --> 00:13:55,361
that is intended
to conjure up in your mind

260
00:13:55,401 --> 00:14:00,338
a little town with different shops.

261
00:14:00,372 --> 00:14:03,307
And the guy who runs
the best shop

262
00:14:03,342 --> 00:14:05,833
has the most customers.

263
00:14:05,878 --> 00:14:08,278
Narrator: There is the basis
of the capitalistic system:

264
00:14:08,314 --> 00:14:09,906
the profit motive.

265
00:14:09,949 --> 00:14:12,782
He's in business to make money.

266
00:14:12,818 --> 00:14:15,286
Shawn: The original
theory of capitalism

267
00:14:15,321 --> 00:14:18,313
is that it's a very clever way

268
00:14:18,357 --> 00:14:22,726
of society voting on what goods

269
00:14:22,761 --> 00:14:25,161
it wants made.

270
00:14:25,197 --> 00:14:27,028
What do you use this for?

271
00:14:27,066 --> 00:14:30,900
That's-- I could use that
for practically everything I ever do.

272
00:14:30,936 --> 00:14:34,599
You know, society votes.

273
00:14:34,640 --> 00:14:36,904
They like the way this guy

274
00:14:36,942 --> 00:14:39,638
makes ice cream.

275
00:14:39,678 --> 00:14:41,305
But the other guy,

276
00:14:41,347 --> 00:14:44,680
they don't like
his ice cream that much

277
00:14:44,717 --> 00:14:49,586
and they don't buy it,
so it fades out.

278
00:14:49,622 --> 00:14:52,250
It's on me.
That is a good fit.

279
00:14:52,291 --> 00:14:56,625
Shawn: The basic law of life
is that if you have things,

280
00:14:56,662 --> 00:15:00,029
you can easily get more things.

281
00:15:00,065 --> 00:15:03,057
Very quickly, one guy can have

282
00:15:03,102 --> 00:15:05,798
five times more
than anybody else.

283
00:15:05,838 --> 00:15:08,238
- Free enterprise.
- Competition.

284
00:15:08,274 --> 00:15:09,741
Woman:
The profit motive.

285
00:15:11,744 --> 00:15:14,645
Moore: My dad, an assembly-line
worker at General Motors,

286
00:15:14,680 --> 00:15:16,341
bought and paid for our house

287
00:15:16,382 --> 00:15:20,045
before I graduated
from kindergarten.

288
00:15:20,085 --> 00:15:23,213
We had a new car
every three years.

289
00:15:25,257 --> 00:15:28,090
We went to New York
every other summer.

290
00:15:28,127 --> 00:15:31,096
That's me on Wall Street.

291
00:15:31,130 --> 00:15:33,030
And that's me
directing my first movie

292
00:15:33,065 --> 00:15:34,589
at the World's Fair.

293
00:15:34,633 --> 00:15:38,660
We went to Catholic schools,
we lived a good life.

294
00:15:40,439 --> 00:15:43,772
If this was capitalism,
I loved it...

295
00:15:43,809 --> 00:15:46,277
and so did everyone else.

296
00:15:46,312 --> 00:15:50,305
During these years
a lot of people got rich

297
00:15:50,349 --> 00:15:54,342
and they had to pay
a top tax rate of 90%.

298
00:15:54,386 --> 00:15:56,479
90%?

299
00:15:56,522 --> 00:15:58,353
Yep.

300
00:15:58,390 --> 00:16:02,952
But they still got to live
like Bogie and Bacall.

301
00:16:02,995 --> 00:16:05,327
And what did we do
with all their money?

302
00:16:05,364 --> 00:16:08,128
We built damns, bridges,

303
00:16:08,167 --> 00:16:11,967
interstate highways,
schools, hospitals.

304
00:16:12,004 --> 00:16:14,438
We even sent a guy to the moon.

305
00:16:14,473 --> 00:16:16,873
Things seemed to be going
in the right direction.

306
00:16:16,909 --> 00:16:19,969
Dad had a secure job
and Mom could work

307
00:16:20,012 --> 00:16:22,446
if she wanted,
but didn't have to.

308
00:16:22,481 --> 00:16:26,383
Middle-class families only needed
one income to survive.

309
00:16:26,418 --> 00:16:29,683
Our union family had
free health care and free dental.

310
00:16:29,722 --> 00:16:33,180
The kids could go to college
without getting a loan from a bank.

311
00:16:33,225 --> 00:16:36,854
Dad had four weeks
paid vacation every summer.

312
00:16:36,895 --> 00:16:40,729
Most people had
a savings account and little debt.

313
00:16:40,766 --> 00:16:44,532
And Dad's pension was set aside
where no one could touch it.

314
00:16:44,570 --> 00:16:48,563
It would be there for him
when he retired.

315
00:16:48,607 --> 00:16:52,668
We got all of this because
our main industrial competition

316
00:16:52,711 --> 00:16:55,236
had been reduced to rubble.

317
00:16:55,280 --> 00:16:57,942
Here's what the German
car industry looked like.

318
00:16:57,983 --> 00:17:01,419
And here's the Japanese
auto industry.

319
00:17:01,453 --> 00:17:03,546
I guess you could say
it's easy to be number one

320
00:17:03,589 --> 00:17:06,524
when you have no competition.

321
00:17:06,558 --> 00:17:09,118
Yes, of course
not everything was perfect.

322
00:17:09,161 --> 00:17:11,061
We didn't mind having to put up

323
00:17:11,096 --> 00:17:14,031
with a little bit of this
and a little bit of that...

324
00:17:16,635 --> 00:17:19,263
just as long as we could be
middle-class.

325
00:17:21,607 --> 00:17:25,304
And we could count on our kids
having it better than we had it.

326
00:17:25,344 --> 00:17:28,677
It sounded like
a good deal to us.

327
00:17:28,714 --> 00:17:32,878
Capitalism-- no one
ever had it so good.

328
00:17:40,759 --> 00:17:42,784
And then, right when
we were in the middle

329
00:17:42,828 --> 00:17:46,265
of this big love affair
with capitalism...

330
00:17:46,265 --> 00:17:48,733
Announcer: The ABC
Sunday Night Movie "The Gambler"

331
00:17:48,767 --> 00:17:50,428
will continue in its entirety

332
00:17:50,469 --> 00:17:54,064
following this live report
from ABC News.

333
00:17:54,106 --> 00:17:58,975
We are at a turning point
in our history.

334
00:17:59,011 --> 00:18:01,275
Moore:
Along came Debbie Downer.

335
00:18:01,313 --> 00:18:05,079
Too many of us now
tend to worship

336
00:18:05,117 --> 00:18:09,520
self-indulgence
and consumption.

337
00:18:09,555 --> 00:18:13,548
Human identity
is no longer defined

338
00:18:13,592 --> 00:18:17,323
by what one does,

339
00:18:17,362 --> 00:18:20,229
but by what one owns.

340
00:18:20,265 --> 00:18:21,926
This is not a message

341
00:18:21,967 --> 00:18:25,528
of happiness or reassurance,

342
00:18:25,571 --> 00:18:27,801
but it is the truth

343
00:18:27,840 --> 00:18:29,831
and it is a warning.

344
00:18:29,875 --> 00:18:31,843
Moore:
Wow, what a bummer.

345
00:18:31,877 --> 00:18:35,005
It was time to bring
a new sheriff to town...

346
00:18:35,047 --> 00:18:36,139
( horse whinnies )

347
00:18:36,181 --> 00:18:38,649
...one who knew how to act
like a president.

348
00:18:38,684 --> 00:18:42,347
He knew how to handle workers
who wanted a better wage.

349
00:18:42,387 --> 00:18:44,651
( gunshot )

350
00:18:44,690 --> 00:18:47,625
All right, mister,, I guessyouwin.

351
00:18:47,659 --> 00:18:49,149
Moore:
Or these annoying feminists

352
00:18:49,194 --> 00:18:51,958
whining about their
Equal Rights Amendment.

353
00:18:51,997 --> 00:18:54,465
Well, I can change that in a hurry.

354
00:18:56,168 --> 00:18:59,968
Moore: A man who knew
how to get the job done.

355
00:19:00,005 --> 00:19:03,532
Ronald Reagan
came out of the B movies

356
00:19:03,575 --> 00:19:07,739
to become the most famous
corporate spokesman of the 1950s.

357
00:19:07,779 --> 00:19:10,475
It's a transistor radio too.
Weighs only a few ounces.

358
00:19:10,516 --> 00:19:11,949
You can slip it
right into your pocket.

359
00:19:11,984 --> 00:19:14,350
Boraxo waterless hand cleaner
really cleans up for us.

360
00:19:14,386 --> 00:19:16,320
Moore:
He had found his calling

361
00:19:16,355 --> 00:19:19,290
and Wall Street
had found their man.

362
00:19:19,324 --> 00:19:22,384
You see, the banks and corporations
had a simple plan:

363
00:19:22,427 --> 00:19:25,794
to remake America to serve them.

364
00:19:25,831 --> 00:19:27,423
But to pull it off would require

365
00:19:27,466 --> 00:19:30,492
electing a spokesmodel
for president.

366
00:19:30,536 --> 00:19:34,734
And on November 4th, 1980,
that's what we did.

367
00:19:34,773 --> 00:19:36,604
...that I will faithfully execute

368
00:19:36,642 --> 00:19:38,837
the office of President
of the United States.

369
00:19:38,877 --> 00:19:41,072
Crowd:
Ronald Ronald Ronald...

370
00:19:41,113 --> 00:19:43,343
Thank you.

371
00:19:43,382 --> 00:19:46,112
Moore:
It was an historic moment

372
00:19:46,151 --> 00:19:48,915
because now corporate America
and Wall Street

373
00:19:48,954 --> 00:19:51,946
were in almost complete control.

374
00:19:51,990 --> 00:19:54,686
See that guy standing
next to the president?

375
00:19:54,726 --> 00:19:57,593
You know, the one
that looks like a butler?

376
00:19:57,629 --> 00:19:59,995
His name was Don Regan,

377
00:20:00,032 --> 00:20:02,296
the Chairman of Merrill Lynch,

378
00:20:02,334 --> 00:20:06,862
the richest and biggest
retail brokerage firm in the world.

379
00:20:06,905 --> 00:20:09,874
He took the key position
of Treasury Secretary

380
00:20:09,908 --> 00:20:13,776
so he could enact the tax cuts
that the rich wanted.

381
00:20:13,812 --> 00:20:16,110
Regan then became
White House Chief of Staff

382
00:20:16,148 --> 00:20:19,709
as the president started to fade.

383
00:20:19,751 --> 00:20:22,879
Then they should give the president
what 43 governors have,

384
00:20:22,921 --> 00:20:25,389
a line-item veto.

385
00:20:25,424 --> 00:20:27,585
- And...
- ( applause )

386
00:20:27,626 --> 00:20:31,687
- You're gonna have to speed it up.
- Oh.

387
00:20:31,730 --> 00:20:34,893
Moore: Who tells the president
to speed it up?

388
00:20:34,933 --> 00:20:38,767
The man from Merrill Lynch,
that's who.

389
00:20:38,804 --> 00:20:43,264
Things in America would never
be the same again.

390
00:20:43,308 --> 00:20:46,744
The country would now be run
like a corporation.

391
00:20:46,778 --> 00:20:48,871
We're going to turn the bull loose.

392
00:20:48,914 --> 00:20:52,281
( cheering, applause )

393
00:20:52,317 --> 00:20:55,912
Moore: And four years later,
when Reagan ran for reelection,

394
00:20:55,954 --> 00:20:59,390
it was all smiley faces
and happy talk.

395
00:20:59,424 --> 00:21:01,949
I really feel that we're gonna
be better off in the long run.

396
00:21:01,994 --> 00:21:04,929
We're on the upward swing

397
00:21:04,963 --> 00:21:08,490
and the factories are working
much stronger than before.

398
00:21:08,533 --> 00:21:10,933
We're back on top.

399
00:21:14,473 --> 00:21:16,839
Moore: Actually,
what Reagan presided over

400
00:21:16,875 --> 00:21:21,437
was the wholesale dismantling
of our industrial infrastructure.

401
00:21:21,480 --> 00:21:25,314
This was not done to save money
or remain competitive,

402
00:21:25,350 --> 00:21:27,409
as companies back then
were already posting

403
00:21:27,452 --> 00:21:30,853
record earnings in the billions.

404
00:21:30,889 --> 00:21:34,620
No, it was done
for short-term profits...

405
00:21:38,730 --> 00:21:41,631
and to destroy the unions.

406
00:21:41,667 --> 00:21:44,761
Millions of people
were thrown out of work

407
00:21:44,803 --> 00:21:48,136
and the remaining workers
were told to work twice as hard.

408
00:21:49,608 --> 00:21:53,066
But wages for working people
remained frozen.

409
00:21:54,980 --> 00:21:57,813
The richest Americans
had their top income tax rate

410
00:21:57,849 --> 00:22:00,784
cut in half.

411
00:22:02,621 --> 00:22:05,715
Instead of being paid
a decent wage,

412
00:22:05,757 --> 00:22:08,521
we were encouraged
to live on borrowed money

413
00:22:08,560 --> 00:22:12,621
until our household debt
was nearly 100% of the GDP.

414
00:22:12,664 --> 00:22:15,827
There was an explosion
of personal bankruptcies.

415
00:22:15,867 --> 00:22:19,735
We found it necessary to lock up
millions of our citizens.

416
00:22:19,771 --> 00:22:22,069
Sales of antidepressants
skyrocketed

417
00:22:22,107 --> 00:22:24,701
as insurance
and pharmaceutical company greed

418
00:22:24,743 --> 00:22:27,940
pushed the cost
of healthcare up and up.

419
00:22:27,979 --> 00:22:31,506
All of this was great news
for the stock market

420
00:22:31,550 --> 00:22:34,610
and for America's CEOs.

421
00:22:39,624 --> 00:22:41,319
Moore:
Half of Flint was now receiving

422
00:22:41,360 --> 00:22:44,523
some form
of government welfare.

423
00:22:44,563 --> 00:22:46,428
During the end
of the Reagan years,

424
00:22:46,465 --> 00:22:49,696
I made my first movie about
what had happened to the country

425
00:22:49,735 --> 00:22:53,193
and specifically to my hometown
of Flint, Michigan,

426
00:22:53,238 --> 00:22:56,469
the birthplace of General Motors.

427
00:22:56,508 --> 00:23:00,376
GM was posting profits
of over $4 billion

428
00:23:00,412 --> 00:23:02,403
while at the same time eliminating

429
00:23:02,447 --> 00:23:05,211
tens of thousands of jobs.

430
00:23:05,250 --> 00:23:09,186
I went to see GM's chief lobbyist
in Flint, Mr. Tom Kay,

431
00:23:09,221 --> 00:23:12,418
to ask him why
this was happening.

432
00:23:12,457 --> 00:23:15,449
General Motors wouldn't be doing
anybody any service

433
00:23:15,494 --> 00:23:16,961
if it goes bankrupt.

434
00:23:16,995 --> 00:23:18,758
It has to do what it has to do

435
00:23:18,797 --> 00:23:21,994
in order to stay competitive
in today's economic climate.

436
00:23:22,033 --> 00:23:26,094
Moore: Even if that means
eliminating 18,000 jobs?

437
00:23:26,138 --> 00:23:29,107
Even if it means
eliminating 20,000 jobs.

438
00:23:29,141 --> 00:23:31,439
- Or 30,000?
- Whatever.

439
00:23:31,476 --> 00:23:36,038
- How about all the jobs here in Flint?
- It could feasibly happen.

440
00:23:36,081 --> 00:23:38,641
Moore: And it did.

441
00:23:38,683 --> 00:23:41,481
Nearly all the jobs were eliminated

442
00:23:41,520 --> 00:23:44,284
and GM went bankrupt.

443
00:23:46,091 --> 00:23:49,720
Perhaps more distressing was the fact
that the rest of America

444
00:23:49,761 --> 00:23:53,891
was now starting to resemble
Flint, Michigan.

445
00:23:53,932 --> 00:23:58,096
But there were some cities
that still took pride in their greatness.

446
00:23:58,136 --> 00:23:59,899
Cleveland

447
00:23:59,938 --> 00:24:02,429
Come on down
to Cleveland Town, everyone

448
00:24:02,474 --> 00:24:05,375
Come and look
at both of our buildings

449
00:24:05,410 --> 00:24:08,208
Here's the place where
there used to be industry

450
00:24:08,246 --> 00:24:11,079
This train is carrying jobs
out of Cleveland

451
00:24:11,116 --> 00:24:14,108
See the sun almost
three times a year

452
00:24:14,152 --> 00:24:16,916
Thisguy has atleast two  DUIs

453
00:24:16,955 --> 00:24:19,890
Our economy's
based on LeBron James

454
00:24:19,925 --> 00:24:22,758
Buy a house
for the price of a VCR

455
00:24:22,794 --> 00:24:25,490
Our main export
is crippling depression

456
00:24:25,530 --> 00:24:28,499
We're so retarded
that we think this is art

457
00:24:28,533 --> 00:24:33,163
It could be worse, though,
at least we're not Detroit

458
00:24:33,205 --> 00:24:35,400
We,re noDetroit

459
00:24:35,440 --> 00:24:39,137
Moore:
No, they're not Detroit.

460
00:24:39,177 --> 00:24:41,805
For 20 years I tried
to warn GM and others

461
00:24:41,847 --> 00:24:45,510
that this day was coming,
but to no avail.

462
00:24:45,550 --> 00:24:47,814
Maybe now they'd listen.

463
00:24:47,853 --> 00:24:50,287
So I went down to the headquarters
of General Motors

464
00:24:50,322 --> 00:24:53,985
one last time to share
some of my ideas.

465
00:24:54,025 --> 00:24:56,186
You don't have permission.
You can't film here.

466
00:24:56,228 --> 00:24:57,217
Huh?

467
00:24:57,262 --> 00:24:59,059
You don't have permission
from General Motors.

468
00:24:59,097 --> 00:25:01,691
- You can't film here.
- I'm just going up to see the chairman.

469
00:25:01,733 --> 00:25:03,724
No, sir.
No, sir.

470
00:25:03,768 --> 00:25:05,998
You know, I've been doing this
for, like, 20 years.

471
00:25:06,037 --> 00:25:07,527
I understand, sir.

472
00:25:07,572 --> 00:25:11,064
And I have not been
let into this building for 20 years,

473
00:25:11,109 --> 00:25:14,772
and I think it's about time
someone just let me in

474
00:25:14,813 --> 00:25:16,440
and let me talk to them.

475
00:25:16,481 --> 00:25:18,346
I've got some good ideas.

476
00:25:18,383 --> 00:25:22,820
4-7 to 7-6 Bravo Area Alpha.

477
00:25:22,854 --> 00:25:25,254
Man:
Go ahead.

478
00:25:25,290 --> 00:25:28,521
It's Michael Moore here
to see the chairman.

479
00:25:30,829 --> 00:25:33,354
Repeat that.

480
00:25:33,398 --> 00:25:35,491
It's the filmmaker
Mr. Michael Moore.

481
00:25:35,534 --> 00:25:37,525
He's here to see the chairman.

482
00:25:38,770 --> 00:25:40,362
- Gentlemen.
- Yes.

483
00:25:40,405 --> 00:25:42,805
You need to get prior permission.
You cannot film here, okay?

484
00:25:42,841 --> 00:25:45,571
But if I can't go in and get permission,
what am I supposed to do?

485
00:25:45,610 --> 00:25:48,101
I guess they're right.
Breaking up is hard to do.

486
00:25:48,146 --> 00:25:50,444
Stop that. Don't do that.
Just go in the building.

487
00:25:50,482 --> 00:25:53,178
Moore: For 35 years,
GM made more money

488
00:25:53,218 --> 00:25:55,311
than any other corporation.

489
00:25:55,353 --> 00:25:56,945
But eventually,
Germany and Japan

490
00:25:56,988 --> 00:25:59,786
rebuilt their car industry
and produced vehicles

491
00:25:59,824 --> 00:26:02,850
that were safer than ours,
more fuel efficient

492
00:26:02,894 --> 00:26:05,055
and rarely, if ever, broke down.

493
00:26:08,166 --> 00:26:12,535
In Germany, unions help hire and fire
the board of directors

494
00:26:12,571 --> 00:26:15,972
so the workers have a say
in what's going on.

495
00:26:18,843 --> 00:26:20,834
You see, the people
of Japan and Germany

496
00:26:21,112 --> 00:26:24,548
fight to make sure that even
their conservative political leaders

497
00:26:24,583 --> 00:26:26,710
don't destroy their middle class.

498
00:26:31,056 --> 00:26:33,684
So where exactly
are we right now?

499
00:26:33,725 --> 00:26:38,287
On the day that General Motors
declared Chapter 1 1 bankruptcy,

500
00:26:38,330 --> 00:26:41,766
I went with my dad to visit
the AC Spark Plug plant

501
00:26:41,800 --> 00:26:44,394
where he had worked
for over 30 years.

502
00:26:44,436 --> 00:26:48,099
- So you worked actually right here.
- You'd have to go--

503
00:26:48,139 --> 00:26:51,939
they had a ramp that took you
up over that, just beyond that...

504
00:26:51,977 --> 00:26:53,501
- Just beyond that space there?
- Yeah.

505
00:26:53,545 --> 00:26:55,536
- And then the factory was all over there?
- Yeah.

506
00:26:55,580 --> 00:26:57,980
Moore: The whole complex
is, like, two miles long.

507
00:26:58,016 --> 00:27:00,348
I remember Mom bringing
us kids in to pick you up.

508
00:27:00,385 --> 00:27:02,285
- 2:30 every day.
- Yeah, uh-huh.

509
00:27:02,320 --> 00:27:05,346
You'd walk out of there,
right over in there in fact.

510
00:27:05,390 --> 00:27:07,358
And we'd be waiting
in the car for you

511
00:27:07,392 --> 00:27:09,883
and we'd see you
come down the ramp.

512
00:27:09,928 --> 00:27:13,523
We got real excited
every time we saw you.

513
00:27:13,565 --> 00:27:16,056
I was there 33 1/2 years.

514
00:27:16,101 --> 00:27:18,160
- 33 1/2 years?
- Uh-huh.

515
00:27:18,203 --> 00:27:21,001
Moore: What's your best memory here,
being here, working here?

516
00:27:21,039 --> 00:27:24,202
My best memory?
I think the people.

517
00:27:24,242 --> 00:27:26,233
They were a really good bunch.

518
00:27:26,277 --> 00:27:29,144
- You liked the crowd you worked with?
- Yeah.

519
00:27:29,180 --> 00:27:32,445
Frank Moore:
A good place to work. I enjoyed it.

520
00:27:32,484 --> 00:27:35,351
But I'm sorry to see it go.

521
00:27:42,961 --> 00:27:45,691
Moore:
Shortly before Christmas 2008,

522
00:27:45,730 --> 00:27:48,858
Republic Windows & Doors
in Chicago, lllinois,

523
00:27:48,900 --> 00:27:52,131
abruptly fired
its entire unionized workforce

524
00:27:52,170 --> 00:27:55,230
of over 250 people.

525
00:27:55,273 --> 00:27:58,731
They were given
only three days' notice.

526
00:27:58,777 --> 00:28:00,836
Bank of America
would no longer provide

527
00:28:00,879 --> 00:28:03,074
a line of credit to the company,

528
00:28:03,114 --> 00:28:07,210
and so the workers were not paid
the money owed to them.

529
00:28:07,252 --> 00:28:10,050
Man #1 : My life revolves
around this job.

530
00:28:10,088 --> 00:28:14,252
I live according to my obligation
to my job, you know?

531
00:28:14,292 --> 00:28:18,353
And it's not just me,
it's all of the workers here.

532
00:28:18,396 --> 00:28:21,194
We go above and beyond

533
00:28:21,232 --> 00:28:23,826
the call of duty for Republic.

534
00:28:23,868 --> 00:28:26,598
And  attheend

535
00:28:26,638 --> 00:28:29,471
Republic cares nothing for us.

536
00:28:31,309 --> 00:28:34,278
Man #2: We found out that
they're gonna shut the plant on Tuesday.

537
00:28:34,312 --> 00:28:37,543
We don't deserve what
they're doing to us, you know?

538
00:28:37,582 --> 00:28:40,881
It really hurts because,
like I said,

539
00:28:40,919 --> 00:28:42,887
this is my second family.

540
00:28:42,921 --> 00:28:45,515
So it was-- it really hurts.
It really hurts.

541
00:28:45,557 --> 00:28:49,459
I'm gonna miss
all of them, you know?

542
00:28:49,494 --> 00:28:52,463
I'm gonna miss them
and I don't think

543
00:28:52,497 --> 00:28:54,829
anybody on this planet

544
00:28:54,866 --> 00:28:58,097
deserves what they've done to us.

545
00:29:05,577 --> 00:29:07,636
Moore: Scenes like this
were being repeated

546
00:29:07,679 --> 00:29:11,740
all over the country,
and no one seemed to mind.

547
00:29:11,783 --> 00:29:14,183
Zambezi, Zambezi

548
00:29:14,219 --> 00:29:17,347
-  Zambezi, Zam.
- Woman: Whoo!

549
00:29:17,388 --> 00:29:21,256
Moore: The president was enjoying
his final year in office.

550
00:29:21,292 --> 00:29:23,590
But as the economy
started to fall apart,

551
00:29:23,628 --> 00:29:27,758
he decided it was time
to roll out the C word.

552
00:29:27,799 --> 00:29:30,825
Capitalism is the best system
ever devised.

553
00:29:30,869 --> 00:29:32,268
Moore:
Huh. Really?

554
00:29:32,303 --> 00:29:35,568
Voices from the left and right
are equating the free enterprise system

555
00:29:35,607 --> 00:29:39,270
with greed and exploitation
and failure.

556
00:29:39,310 --> 00:29:41,301
Moore:
Hmm, greed,

557
00:29:41,346 --> 00:29:44,509
exploitation, failure?

558
00:29:44,549 --> 00:29:46,073
Go on, I'm listening.

559
00:29:46,117 --> 00:29:50,986
Capitalism offers people
the freedom to choose

560
00:29:51,022 --> 00:29:53,582
where they work
and what they do...

561
00:29:53,625 --> 00:29:56,321
Reporter: Pat Andrews
has been looking for work.

562
00:29:56,361 --> 00:30:00,229
Every morning she scans
the classifieds in vain.

563
00:30:00,265 --> 00:30:02,028
There isn't anything in here.

564
00:30:02,066 --> 00:30:05,001
I'm not gonna be a gentleman's club
hired dancer either.

565
00:30:06,337 --> 00:30:09,829
...the opportunity to buy
or sell products they want.

566
00:30:09,874 --> 00:30:11,808
Reporter: Tom Rendon
has avoided layoffs

567
00:30:11,843 --> 00:30:14,505
at his sign company
in Stockton, California,

568
00:30:14,546 --> 00:30:16,446
all because this one word
now makes up

569
00:30:16,481 --> 00:30:18,540
for half his business.

570
00:30:18,583 --> 00:30:22,144
If you seek social justice
and human dignity,

571
00:30:22,187 --> 00:30:26,021
the free market system
is the way to go.

572
00:30:26,057 --> 00:30:27,752
( applause )

573
00:30:28,893 --> 00:30:32,021
Moore: And for those seeking
justice in Pennsylvania,

574
00:30:32,063 --> 00:30:35,965
free enterprise
was definitely the way to go.

575
00:30:39,470 --> 00:30:41,131
Wilkes-Barre, Pennsylvania,

576
00:30:41,172 --> 00:30:43,333
has one of the highest rates
in the state

577
00:30:43,374 --> 00:30:47,003
of young people locked up
in the juvenile home.

578
00:30:47,045 --> 00:30:49,377
Perhaps it's because
the good people here

579
00:30:49,414 --> 00:30:51,780
employ the practices
of capitalism

580
00:30:51,816 --> 00:30:55,047
in dealing with
their wayward youth.

581
00:30:55,086 --> 00:30:57,987
The county hired a private
profit-making corporation

582
00:30:58,022 --> 00:31:02,152
with a sweet-sounding name,
PA Child Care.

583
00:31:03,394 --> 00:31:06,329
It was owned and run
by two businessmen,

584
00:31:06,364 --> 00:31:11,028
one of whom was Robert Powell,
an attorney and entrepreneur.

585
00:31:11,069 --> 00:31:13,003
His good friend Judge Conahan

586
00:31:13,037 --> 00:31:15,403
closed down
the public juvenile home

587
00:31:15,440 --> 00:31:17,374
and then got
PA Child Care to build

588
00:31:17,408 --> 00:31:20,571
an $8 million
privately-owned facility

589
00:31:20,612 --> 00:31:22,512
and charge it back to the county

590
00:31:22,547 --> 00:31:25,243
for a mere $58 million lease.

591
00:31:27,185 --> 00:31:30,814
Let's meet some of Wilkes-Barre's
juvenile delinquents.

592
00:31:30,855 --> 00:31:33,153
Magee smoked pot
at a high school party.

593
00:31:33,191 --> 00:31:36,422
I was very rebellious
when I was at this age.

594
00:31:36,461 --> 00:31:39,259
Moore: Matt, he got into
an argument at the dinner table.

595
00:31:39,297 --> 00:31:41,959
I threw a piece of meat,
as in steak,

596
00:31:42,000 --> 00:31:44,468
cooked dinner,
at my mother's boyfriend.

597
00:31:44,502 --> 00:31:46,868
Moore: Jamie got in a fight
at a shopping mall

598
00:31:46,905 --> 00:31:48,167
with her best friend.

599
00:31:48,206 --> 00:31:51,642
I just figured, you know, we just weren't
gonna be friends anymore.

600
00:31:51,676 --> 00:31:54,201
Moore: And Hillary made
a MySpace page

601
00:31:54,245 --> 00:31:56,406
making fun
of her assistant principal

602
00:31:56,447 --> 00:31:58,938
for being strict and having
no sense of humor.

603
00:31:58,983 --> 00:32:02,419
And it said some pretty silly,
like, 14-year-old-girl stuff.

604
00:32:02,453 --> 00:32:06,184
Moore: Her assistant principal
called the police.

605
00:32:06,224 --> 00:32:10,524
They all appeared before
kindly Judge Mark Ciavarella.

606
00:32:10,561 --> 00:32:13,291
These kids were about
to get their first lesson

607
00:32:13,331 --> 00:32:15,299
in American capitalism:

608
00:32:15,333 --> 00:32:20,134
time is money, lots of money.

609
00:32:20,171 --> 00:32:23,470
I went in front of the court,
in front of Mr. Ciavarella,

610
00:32:23,508 --> 00:32:25,305
and I wasn't even in front of him
for four minutes.

611
00:32:25,343 --> 00:32:27,436
I was only in front of him
for, like, two minutes.

612
00:32:27,478 --> 00:32:31,107
Hillary: The first thing that
Judge Ciavarella said to me was,

613
00:32:31,149 --> 00:32:34,016
"What makes you think
you can do this kind of crap?"

614
00:32:34,052 --> 00:32:36,486
I'm sure he knew in his mind
when I walked in

615
00:32:36,521 --> 00:32:38,284
that he was locking this kid up
no matter what.

616
00:32:38,323 --> 00:32:39,620
He didn't even look at me.

617
00:32:39,657 --> 00:32:42,626
Once I entered the courtroom,
I didn't have any chance.

618
00:32:42,660 --> 00:32:44,924
There was about six kids
who went in front of me.

619
00:32:44,963 --> 00:32:46,988
Every single kid who went
in front of Ciavarella,

620
00:32:47,031 --> 00:32:50,398
for all different reasons--
some minor, some serious--

621
00:32:50,435 --> 00:32:52,130
got sent away.

622
00:32:52,170 --> 00:32:56,072
Moore: Although Wilkes-Barre is located
in the United States of America,

623
00:32:56,107 --> 00:33:00,237
here capitalism
trumped democracy.

624
00:33:00,278 --> 00:33:03,509
Robert Powell, one of the owners
of PA Child Care,

625
00:33:03,548 --> 00:33:07,951
cut a business deal with Judge Conahan
and Judge Ciavarella.

626
00:33:07,986 --> 00:33:11,422
Judge Ciavarella then stepped up
his conviction rates.

627
00:33:11,456 --> 00:33:13,185
Many of these kids
were funneled

628
00:33:13,224 --> 00:33:17,991
into PA Child Care's
for-profit juvenile facility.

629
00:33:18,029 --> 00:33:19,428
Andfor theirtroubles,

630
00:33:19,464 --> 00:33:23,662
the judges received
over $2.6 million

631
00:33:23,701 --> 00:33:27,660
while the owners of PA Child Care
received tens of millions

632
00:33:27,705 --> 00:33:30,299
of taxpayer dollars
from the county.

633
00:33:30,341 --> 00:33:33,469
And where did Powell go
to enjoy all that money?

634
00:33:33,511 --> 00:33:35,706
On his private plane

635
00:33:35,747 --> 00:33:38,807
and his yacht,
the "Reel Justice."

636
00:33:40,485 --> 00:33:45,388
6,500 children
were unjustly convicted.

637
00:33:45,423 --> 00:33:48,824
It was good business
while it lasted.

638
00:33:49,961 --> 00:33:52,828
Reporter #1 : Two Luzerne County
judges in big trouble with the law.

639
00:33:52,864 --> 00:33:53,853
They're going to jail.

640
00:33:53,898 --> 00:33:55,331
Reporter #2:
Some kids were locked up

641
00:33:55,366 --> 00:33:59,632
even when probation officers
objected to detention.

642
00:33:59,670 --> 00:34:02,662
In there you lose track of time
and you lose track of the date.

643
00:34:02,707 --> 00:34:03,935
I was barely keeping track.

644
00:34:03,975 --> 00:34:07,103
It was supposed to be, like--
I believe it was, like, two months.

645
00:34:07,145 --> 00:34:09,545
And it went from two months
to nine months.

646
00:34:09,580 --> 00:34:12,276
He said originally
three to six months,

647
00:34:12,316 --> 00:34:16,309
but somehow I ended up
being there 11 1/2 months

648
00:34:16,354 --> 00:34:19,187
and I never went back
in front of the judge at all

649
00:34:19,223 --> 00:34:20,850
for him to give me extensions.

650
00:34:20,892 --> 00:34:22,689
Moore:
Not only did PA Child Care

651
00:34:22,727 --> 00:34:25,560
pay off the judges
to fill their cells,

652
00:34:25,596 --> 00:34:28,258
but their employees were the ones
who got to decide

653
00:34:28,299 --> 00:34:31,700
when a child had
enough rehabilitation.

654
00:34:31,736 --> 00:34:35,069
But that makes sense,
because any time a governmental unit

655
00:34:35,106 --> 00:34:37,666
turns over to
a profit-making corporation

656
00:34:37,708 --> 00:34:40,108
the duties it should be performing,

657
00:34:40,144 --> 00:34:42,169
what do you expect to happen?

658
00:34:42,213 --> 00:34:44,807
Matt: It makes me feel like
an item that they just used

659
00:34:44,849 --> 00:34:47,249
to just get money
and then tossed me aside.

660
00:34:47,285 --> 00:34:51,745
I'm just trying
to work on my flying

661
00:34:51,789 --> 00:34:53,984
and just trying to prepare
for my future

662
00:34:54,025 --> 00:34:57,256
so I can put this all behind me,
finally be done with all this.

663
00:34:57,295 --> 00:34:59,763
During the whole trial
I wasn't in control at all,

664
00:34:59,797 --> 00:35:02,231
but with flying it's only me.

665
00:35:02,266 --> 00:35:04,734
It's just that I just get
to do everything by myself.

666
00:35:04,769 --> 00:35:06,794
I'm the only one on the control.

667
00:35:06,838 --> 00:35:08,669
Moore:
Matt loves to fly

668
00:35:08,706 --> 00:35:11,971
and hopes to become
a pilot someday.

669
00:35:12,009 --> 00:35:14,637
If he does,
he'll get his second lesson

670
00:35:14,679 --> 00:35:17,273
in capitalism:

671
00:35:17,315 --> 00:35:20,341
that in America,
sometimes you're better off

672
00:35:20,384 --> 00:35:22,820
working at Mickey D's.

673
00:35:22,820 --> 00:35:25,380
- ( applause, cheering )
- Remember Sully?

674
00:35:25,423 --> 00:35:26,754
Captain Sullenberger,

675
00:35:26,791 --> 00:35:29,817
who safely landed an airbus
in the Hudson River

676
00:35:29,861 --> 00:35:32,887
- saving the lives of 150 passengers?
- ( patriotic music playing )

677
00:35:32,930 --> 00:35:35,797
- Man: A true American hero.
- ( applause )

678
00:35:38,936 --> 00:35:41,837
Moore: He met the mayor.
He went to the State of the Union.

679
00:35:41,873 --> 00:35:44,569
Heck, he even went
to the Super Bowl.

680
00:35:44,609 --> 00:35:46,839
Andthen hewenttoCongress.

681
00:35:46,878 --> 00:35:49,938
Sullenberger:
Flying has been my lifelong passion.

682
00:35:49,981 --> 00:35:52,142
But while I love my profession,

683
00:35:52,183 --> 00:35:54,879
I do not like
what has happened to it.

684
00:35:54,919 --> 00:35:57,012
- ( music halts )
- It is my personal experience

685
00:35:57,054 --> 00:36:00,251
that my decision to remain
in the profession I love

686
00:36:00,291 --> 00:36:04,921
has come at a great financial cost
to me and to my family.

687
00:36:04,962 --> 00:36:07,226
My pay has been cut 40%.

688
00:36:07,265 --> 00:36:10,928
My pension, like most airline pensions,
has been terminated.

689
00:36:10,968 --> 00:36:14,495
So please do not think I exaggerate
when I say that I do not know

690
00:36:14,539 --> 00:36:17,838
a single professional airline pilot
who wants his or her children

691
00:36:17,875 --> 00:36:19,467
to follow in their footsteps.

692
00:36:19,510 --> 00:36:22,240
Moore: Whoa, you cleared
the room with that one, Sully.

693
00:36:22,280 --> 00:36:24,578
I don't think the congressmen
wanted to hear that stuff.

694
00:36:24,615 --> 00:36:27,550
- They like you as a hero.
- The current experience...

695
00:36:27,585 --> 00:36:30,076
( patriotic music over dialogue )

696
00:36:42,133 --> 00:36:44,192
Moore: What was
your starting pay as a pilot?

697
00:36:44,235 --> 00:36:46,533
I made $19,000 the first year.

698
00:36:46,571 --> 00:36:50,029
I was bumped up to about 22,000
or 23,000 the second year.

699
00:36:50,074 --> 00:36:52,702
Last year, gross pay

700
00:36:52,743 --> 00:36:55,177
I made $17,600.

701
00:36:55,213 --> 00:36:57,807
There's a joke in the airline
when we get our wings pinned on us

702
00:36:57,848 --> 00:37:01,306
as new-hire airline pilots
that the company just kinda says,

703
00:37:01,352 --> 00:37:04,116
"Hey, don't apply for food stamps
in your uniform."

704
00:37:04,155 --> 00:37:07,022
Moore: I don't know about you,
but I want the pilot

705
00:37:07,058 --> 00:37:10,858
who's got me 30,000 feet up in the air
to be paid really well

706
00:37:10,895 --> 00:37:13,955
and not sitting up in the cockpit
digging through the pilot's seat

707
00:37:13,998 --> 00:37:15,989
Iooking for loose change.

708
00:37:16,033 --> 00:37:18,001
There was a period
of about four months

709
00:37:18,035 --> 00:37:20,799
where I was on food stamps.

710
00:37:20,838 --> 00:37:22,328
- You were on food stamps?
- Yes.

711
00:37:22,373 --> 00:37:25,137
- And you were still flying the plane?
- Yes.

712
00:37:25,176 --> 00:37:27,542
With my--
with my food stamp card.

713
00:37:27,578 --> 00:37:30,342
The lady I talked to
in the food stamp office,

714
00:37:30,381 --> 00:37:33,316
when I told her I was a pilot,
she didn't bat an eye,

715
00:37:33,351 --> 00:37:35,683
but she didn't--
I knew she didn't believe me.

716
00:37:35,720 --> 00:37:38,348
Moore: How have you gotten by?
How have you been able to afford things?

717
00:37:38,389 --> 00:37:40,983
Relying on credit cards
to buy the groceries at times

718
00:37:41,025 --> 00:37:42,754
- when I wasn't on food stamps.
- Oh, really?

719
00:37:42,793 --> 00:37:45,091
I have about $10,000
in credit card debt

720
00:37:45,129 --> 00:37:47,120
just on the necessities,

721
00:37:47,164 --> 00:37:49,724
not on the big-screen TV
and the stereo.

722
00:37:49,767 --> 00:37:52,964
Moore: You're using it
to buy your groceries and get by.

723
00:37:53,004 --> 00:37:54,938
- Yes.
- Do you have any student loan debt?

724
00:37:54,972 --> 00:37:56,667
- Yes.
- How much?

725
00:37:56,707 --> 00:37:58,265
Mine is about 80,000.

726
00:37:58,309 --> 00:38:01,710
- I took out $100,000.
- Moore: Student loans?

727
00:38:01,746 --> 00:38:04,613
And by the time I pay it back,
at this rate,

728
00:38:04,649 --> 00:38:07,015
it'll probably cost me well over
a half a million with interest

729
00:38:07,051 --> 00:38:09,611
and fees and penalties.

730
00:38:09,654 --> 00:38:11,884
It's something that I don't--
I don't like to spend a lot of time

731
00:38:11,922 --> 00:38:13,617
thinking about
because it's abysmal.

732
00:38:13,658 --> 00:38:16,126
It's one way that I get down
really quickly

733
00:38:16,160 --> 00:38:17,821
about my chosen career field

734
00:38:17,862 --> 00:38:20,296
is to think about how much I owe
and how little I make.

735
00:38:20,331 --> 00:38:23,232
Moore: Have you had to work
a second job to make ends meet?

736
00:38:23,267 --> 00:38:25,633
I walk dogs on the side,

737
00:38:25,670 --> 00:38:28,867
I distribute MonaVie Juice.

738
00:38:28,906 --> 00:38:32,171
I have known pilots
to donate plasma

739
00:38:32,209 --> 00:38:34,040
for extra cash.

740
00:38:34,078 --> 00:38:36,945
- You mean they give blood?
- They-- well--

741
00:38:36,981 --> 00:38:39,609
So they can make extra money
even though they're flying an airplane?

742
00:38:39,650 --> 00:38:41,641
Yeah.
They donate their plasma.

743
00:38:41,686 --> 00:38:45,952
So they get the blood back,
but you can get paid for plasma.

744
00:38:45,990 --> 00:38:47,287
- ( chuckles )
- Oh, I see.

745
00:38:47,325 --> 00:38:49,122
They suck the blood out of you,
take the plasma...

746
00:38:49,160 --> 00:38:50,627
- Give you the blood back.
-...give you the--

747
00:38:50,661 --> 00:38:52,526
Oh, well then,
not such a bad deal.

748
00:38:52,563 --> 00:38:56,055
The only reason people stay flying
is because they love it.

749
00:38:56,100 --> 00:38:57,965
And managements
take advantage of that.

750
00:38:58,002 --> 00:39:01,335
The airlines
have managed to farm out

751
00:39:01,372 --> 00:39:05,775
a lot of the flying to commuters

752
00:39:05,810 --> 00:39:09,007
in an effort to basically
bust the unions.

753
00:39:09,046 --> 00:39:11,139
You can't compete

754
00:39:11,182 --> 00:39:15,414
to a lower and lower level
every year

755
00:39:15,453 --> 00:39:17,853
without skimping
on safety somehow.

756
00:39:20,157 --> 00:39:24,958
Moore: At approximately 10:15 PM
on February 12, 2009,

757
00:39:24,995 --> 00:39:27,725
Continental connection flight 3407

758
00:39:27,765 --> 00:39:30,359
began its descent
to the airport in Buffalo.

759
00:39:30,401 --> 00:39:32,096
( sirens wailing )

760
00:39:32,136 --> 00:39:34,001
Man: Stand by, there's some
ground communication,

761
00:39:34,038 --> 00:39:35,938
either state police
or sheriff's department.

762
00:39:35,973 --> 00:39:37,668
We need to find out if anything
is on the ground.

763
00:39:37,708 --> 00:39:40,108
This aircraft was five miles out,
and all of a sudden

764
00:39:40,144 --> 00:39:41,975
we have no response
to that aircraft.

765
00:39:42,012 --> 00:39:45,004
All I could tell you is there was
an aircraft over the marker

766
00:39:45,049 --> 00:39:48,075
and we're not talking to them now.

767
00:39:48,119 --> 00:39:50,280
Moore:
No one survived the crash

768
00:39:50,321 --> 00:39:53,256
and 50 people lost their lives.

769
00:39:54,792 --> 00:39:58,057
The media focused
on the actions of the pilots.

770
00:39:58,095 --> 00:40:01,155
Reporter: Captain Marvin Renslow
and First Officer Shaw

771
00:40:01,198 --> 00:40:03,428
were chatting about their careers.

772
00:40:03,467 --> 00:40:05,833
Moore:
"Careers" is a euphemism

773
00:40:05,870 --> 00:40:08,270
for what the pilots
were really talking about:

774
00:40:08,305 --> 00:40:12,435
how little they were paid
and how overworked they were.

775
00:40:12,476 --> 00:40:14,569
There would be
no discussion in the media

776
00:40:14,612 --> 00:40:16,876
about why we have
an economic system

777
00:40:16,914 --> 00:40:20,543
that allows a pilot to be paid less
than a manager at Taco Bell.

778
00:40:20,584 --> 00:40:21,983
Reporter:
First Officer Shaw

779
00:40:22,019 --> 00:40:25,648
made between
$16,000 and $20,000 a year

780
00:40:25,689 --> 00:40:29,250
and at one point
worked a second job.

781
00:40:29,293 --> 00:40:31,727
Moore: Her second job
had been waitressing

782
00:40:31,762 --> 00:40:33,753
at a coffee shop.

783
00:40:35,065 --> 00:40:38,592
How are these companies
able to get away with this?

784
00:40:38,636 --> 00:40:41,332
( laughs )
I guess that's the point of capitalism.

785
00:40:41,372 --> 00:40:44,136
It allows you to get away
with anything,

786
00:40:44,175 --> 00:40:47,545
Iike making a profit
off the death of an employee.

787
00:40:49,113 --> 00:40:51,479
Sweetie, I can open it.
Let's try it with this.

788
00:40:51,515 --> 00:40:53,574
Moore:
This is lrma Johnson.

789
00:40:53,617 --> 00:40:56,586
Irma's husband Dan
worked in middle management

790
00:40:56,620 --> 00:40:58,781
at Amegy Bank in Houston, Texas.

791
00:40:58,823 --> 00:41:00,882
- Wanna try to spread it?
- No.

792
00:41:00,925 --> 00:41:03,450
Moore:
Dan recently died of cancer,

793
00:41:03,494 --> 00:41:07,726
Ieaving behind lrma
and their two sons.

794
00:41:07,765 --> 00:41:10,325
But unbeknownst to lrma,
Amegy had taken out

795
00:41:10,367 --> 00:41:14,326
a secret life insurance policy
on Dan's life.

796
00:41:14,371 --> 00:41:18,603
The bank generously named itself
as the beneficiary

797
00:41:18,642 --> 00:41:21,133
in the event of Dan's death.

798
00:41:21,178 --> 00:41:24,306
The insurance company
then accidentally informed lrma

799
00:41:24,348 --> 00:41:28,478
that Amegy Bank had received
a check for $1 1/2 million

800
00:41:28,519 --> 00:41:31,454
just weeks after Dan died.

801
00:41:31,489 --> 00:41:33,286
Thank you for helping.

802
00:41:33,324 --> 00:41:34,382
Johnson:
They never told me.

803
00:41:34,425 --> 00:41:37,952
I wanted to find out, well,
why did they purchase a policy for him?

804
00:41:37,995 --> 00:41:39,929
- Moore: You didn't know about it?
- No.

805
00:41:39,964 --> 00:41:43,627
And they named themselves
as the beneficiary.

806
00:41:43,667 --> 00:41:44,656
Yeah.

807
00:41:44,702 --> 00:41:46,863
Moore:
So your husband's death

808
00:41:46,904 --> 00:41:49,873
made them $1.5 million richer?

809
00:41:49,907 --> 00:41:52,171
Mm-hmm.

810
00:41:52,209 --> 00:41:55,736
I know it's not right
for them to try to profit

811
00:41:55,779 --> 00:41:58,213
from my husband's death.

812
00:41:58,249 --> 00:42:00,046
When I first realized
what was happening,

813
00:42:00,084 --> 00:42:04,145
I was in disbelief.

814
00:42:04,188 --> 00:42:06,918
- It's hurtful.
- I'm so sorry.

815
00:42:08,392 --> 00:42:09,825
Um...

816
00:42:12,329 --> 00:42:15,924
it's hurtful and I wanted answers.

817
00:42:15,966 --> 00:42:18,628
Moore: lrma contacted
Michael D. Myers,

818
00:42:18,669 --> 00:42:21,160
a local attorney who had
already been looking into

819
00:42:21,205 --> 00:42:24,504
these kind of corporate
insurance policies on their employees.

820
00:42:25,910 --> 00:42:28,504
With the normal use of life insurance,
where you're guarding against

821
00:42:28,546 --> 00:42:33,108
the loss of a loved one
or a breadwinner of the family,

822
00:42:33,150 --> 00:42:37,553
you don't want that person to die.

823
00:42:37,588 --> 00:42:39,749
With these policies,
the companies that buy these

824
00:42:39,790 --> 00:42:41,655
want the employees to die

825
00:42:41,692 --> 00:42:44,388
in accordance
with the policy projections.

826
00:42:44,428 --> 00:42:48,330
You are more valuable dead
to a company than alive.

827
00:42:49,633 --> 00:42:53,125
American Greetings, RR Donnelly & Sons,
and Proctor & Gamble

828
00:42:53,170 --> 00:42:55,934
are all having problems
with mortality.

829
00:42:55,973 --> 00:42:58,464
These four combined programs
are running at 50%

830
00:42:58,509 --> 00:42:59,999
of expected mortality.

831
00:43:00,044 --> 00:43:03,502
These clients are acutely aware
of this problem.

832
00:43:03,547 --> 00:43:06,243
Basically here the broker
is complaining

833
00:43:06,283 --> 00:43:08,683
that not enough
employees are dying.

834
00:43:08,719 --> 00:43:12,416
And therefore the investment returns
are not matching the projections.

835
00:43:12,456 --> 00:43:14,890
The broker writes
that NCC is running

836
00:43:14,925 --> 00:43:17,621
at 78% of expected mortality.

837
00:43:17,661 --> 00:43:21,529
Okay, so 78% of the people
we expected to die died.

838
00:43:21,565 --> 00:43:24,796
But the problem with that
is three of them were suicides.

839
00:43:24,835 --> 00:43:26,962
And you can't count
on that every year.

840
00:43:27,004 --> 00:43:29,029
Moore: Can you think
of any other situation

841
00:43:29,073 --> 00:43:33,407
were you'd actually want
people to die?

842
00:43:33,444 --> 00:43:37,642
Combatants in war, I guess.

843
00:43:37,681 --> 00:43:41,481
Wow, when do you want
people to die?

844
00:43:41,518 --> 00:43:43,145
I-I don't know.

845
00:43:43,187 --> 00:43:46,987
War situations,
terrorism situations.

846
00:43:48,926 --> 00:43:51,622
Drug trials, perhaps.
I don't know.

847
00:43:51,662 --> 00:43:54,256
I don't know.
That's an odd question.

848
00:43:54,298 --> 00:43:57,529
Moore: I didn't understand
how any of this could be legal.

849
00:43:57,568 --> 00:44:00,401
After all, there's a reason
that there's a law

850
00:44:00,437 --> 00:44:04,840
prohibiting me from taking out
a fire insurance policy on your house

851
00:44:04,875 --> 00:44:09,107
because I have a vested interest
in your house burning down.

852
00:44:09,146 --> 00:44:12,274
Since Attorney Myers had been
researching this for years,

853
00:44:12,316 --> 00:44:14,375
I asked him which companies
were profiting

854
00:44:14,418 --> 00:44:16,215
from these insurance policies.

855
00:44:16,253 --> 00:44:17,686
I don't know,
you don't know,

856
00:44:17,721 --> 00:44:20,349
because there's no place
you can go and find out

857
00:44:20,391 --> 00:44:24,020
whether your company
is a purchaser

858
00:44:24,061 --> 00:44:26,359
- of these types of products.
- Which ones do you know?

859
00:44:26,397 --> 00:44:28,092
The ones that we know
that have slipped out are

860
00:44:28,132 --> 00:44:30,157
Bank of America, Citibank,

861
00:44:30,200 --> 00:44:33,499
Wal-Mart, Winn-Dixie,
Proctor & Gamble,

862
00:44:33,537 --> 00:44:35,664
McDonnell Douglas, Hershey,

863
00:44:35,706 --> 00:44:38,675
Nestlé, AT&T,
Southwestern Bell,

864
00:44:38,709 --> 00:44:40,768
Ameritech, American  Express--

865
00:44:40,811 --> 00:44:42,870
- This is blue chip you're talking about.
- Yeah.

866
00:44:42,913 --> 00:44:46,110
These aren't fly-by-night companies
trying to do a scam here

867
00:44:46,150 --> 00:44:48,311
so they can collect a check
if one of their employees dies.

868
00:44:48,352 --> 00:44:51,651
There are probably
several million Americans

869
00:44:51,689 --> 00:44:55,523
who are covered by one of these policies
or have been at some point.

870
00:44:55,559 --> 00:44:56,821
There's a lot of it out there.

871
00:44:56,860 --> 00:44:59,021
Moore:
This is Paul Smith.

872
00:44:59,063 --> 00:45:02,624
He used to be what is known
as a loyal employee.

873
00:45:02,666 --> 00:45:06,898
Smith: I worked for Wal-Mart
for 18 years and I gave them 1 10%.

874
00:45:06,937 --> 00:45:08,700
I mean, I loved that company.

875
00:45:08,739 --> 00:45:10,229
And as it turned out,
Wal-Mart took out

876
00:45:10,274 --> 00:45:13,334
over 350,000
life insurance policies

877
00:45:13,377 --> 00:45:15,504
on rank and file associates.

878
00:45:15,546 --> 00:45:16,740
These weren't executives.

879
00:45:16,780 --> 00:45:20,216
These were people like my wife,
a cake decorator for 18 months.

880
00:45:20,250 --> 00:45:23,845
That's the type of people they were taking
insurance policies out on.

881
00:45:23,887 --> 00:45:27,880
Moore: Paul's wife LaDonna
left her job at the Wal-Mart bakery

882
00:45:27,925 --> 00:45:30,723
so she could be a stay-at-home mom
for her two kids.

883
00:45:30,761 --> 00:45:33,924
Smith:
She had asthma real real bad.

884
00:45:33,964 --> 00:45:35,898
She went into
the emergency room one night

885
00:45:35,933 --> 00:45:37,901
and a nurse comes out and says,
"Are you Mr. Smith?"

886
00:45:37,935 --> 00:45:39,425
And I said,  "Yes."

887
00:45:39,470 --> 00:45:43,531
And she said, "We don't think
your wife's gonna make it."

888
00:45:43,574 --> 00:45:45,542
Moore:
LaDonna slipped into a coma

889
00:45:45,576 --> 00:45:47,908
from which she would
never awaken.

890
00:45:47,945 --> 00:45:50,106
Her family rushed to the hospital,

891
00:45:50,147 --> 00:45:52,581
even though there was nothing
they could do to help.

892
00:45:52,616 --> 00:45:55,176
There was a wall here
and LaDonna's in the room

893
00:45:55,219 --> 00:45:56,652
on the other side of the wall.

894
00:45:56,687 --> 00:45:58,951
And Jessica kept saying,
"Where is she?"

895
00:45:58,989 --> 00:46:01,617
And I said, "She's right on
the other side of that wall."

896
00:46:01,658 --> 00:46:05,253
And Jessica said,
"Can we cut a hole in the wall

897
00:46:05,295 --> 00:46:07,786
so that we can see her?"

898
00:46:07,831 --> 00:46:09,856
Andthat juststicks with  me

899
00:46:09,900 --> 00:46:11,731
Do you remember that?

900
00:46:13,837 --> 00:46:18,206
Smith: We had to stay in there with her,
and so we'd write letters to her.

901
00:46:18,242 --> 00:46:22,702
"My dear wife, I miss you more
than any words can possibly say.

902
00:46:22,746 --> 00:46:24,304
You are my life.

903
00:46:24,348 --> 00:46:26,748
You always see beauty
in the simplest things.

904
00:46:26,784 --> 00:46:31,221
I've always admired you for that.
I wish I could have told you that more.

905
00:46:31,255 --> 00:46:33,519
I want you to come back
to me soon.

906
00:46:33,557 --> 00:46:36,549
I still have a lot left to learn
from you, baby doll.

907
00:46:36,593 --> 00:46:38,754
Your loving husband, Paul."

908
00:46:40,697 --> 00:46:43,131
You okay, Wesley?

909
00:46:44,535 --> 00:46:47,299
She was 26 years old.

910
00:46:47,337 --> 00:46:50,272
LaDonna: You're silly.
You're silly.

911
00:46:50,307 --> 00:46:53,970
Myers: The younger a person is,
the higher the benefit is

912
00:46:54,011 --> 00:46:56,809
because they're expected
to live longer.

913
00:46:56,847 --> 00:46:59,042
Women are also expected
to live longer than men.

914
00:46:59,082 --> 00:47:02,051
So the most valuable employee
to the company

915
00:47:02,085 --> 00:47:04,986
if they're dead,
is a young woman.

916
00:47:05,022 --> 00:47:06,614
Moore:
LaDonna's death earned

917
00:47:06,657 --> 00:47:08,887
one of the richest corporations
in the world

918
00:47:08,926 --> 00:47:11,486
an extra $81,000.

919
00:47:11,528 --> 00:47:14,861
I was faced with over $100,000
worth of medical bills

920
00:47:14,898 --> 00:47:18,231
and a $6,000 funeral

921
00:47:18,268 --> 00:47:21,726
and Wal-Mart didn't offer a penny
to help with that.

922
00:47:21,772 --> 00:47:25,037
I did trust them.

923
00:47:25,075 --> 00:47:28,340
And never in a million years
would I have ever thought

924
00:47:28,378 --> 00:47:31,313
that somewhere
on a profit statement,

925
00:47:31,348 --> 00:47:34,340
"Dead associate, $81,000."

926
00:47:34,384 --> 00:47:38,377
Wal-Mart doesn't care about you.

927
00:47:38,422 --> 00:47:40,253
When someone passes away,

928
00:47:40,290 --> 00:47:43,088
they shouldn't get
something out of it.

929
00:47:53,770 --> 00:47:56,261
Myers: The common denominator
to each form of coverage

930
00:47:56,306 --> 00:47:58,331
is that when the employee dies,

931
00:47:58,375 --> 00:48:01,606
the employer gets paid
the insurance benefits.

932
00:48:01,645 --> 00:48:04,808
They're often referred to
as "dead peasant insurance."

933
00:48:04,848 --> 00:48:08,409
Moore: Dead peasants?
Why'd they use such a creepy name?

934
00:48:08,452 --> 00:48:11,580
Myers: It's very creepy.
I don't know what it means either.

935
00:48:11,622 --> 00:48:12,782
Dead is clear.

936
00:48:12,823 --> 00:48:15,553
That's the worker who's passed away,
so they're dead.

937
00:48:15,592 --> 00:48:18,026
Peasant, I don't know why
they chose that word.

938
00:48:18,061 --> 00:48:20,086
I don't know if it has
some historical significance

939
00:48:20,130 --> 00:48:23,122
or that's just the way they view
the relative value

940
00:48:23,166 --> 00:48:24,895
of the employees' lives.

941
00:48:24,935 --> 00:48:26,527
Dead peasants?

942
00:48:26,570 --> 00:48:28,697
Yeah, amongst themselves
that's what they call it.

943
00:48:30,274 --> 00:48:34,506
It's insulting to refer
to my husband like that.

944
00:48:34,544 --> 00:48:36,569
( sniffles )

945
00:48:41,652 --> 00:48:43,210
Moore:
It turned out that Amegy Bank

946
00:48:43,253 --> 00:48:45,949
had a second
dead peasant policy on Dan,

947
00:48:45,989 --> 00:48:49,982
bringing their total take
to nearly $5 million.

948
00:48:52,829 --> 00:48:53,830
- Is capitalism a sin?
- Father Dick Preston: Yes.

949
00:48:53,830 --> 00:48:55,764
- Is capitalism a sin?
- Father Dick Preston: Yes.

950
00:48:55,799 --> 00:48:58,359
Capitalism for me and for many of us

951
00:48:58,402 --> 00:49:01,735
at this present moment is an evil.

952
00:49:01,772 --> 00:49:05,538
It's contrary to all that's good.
It's contrary to the common good.

953
00:49:05,575 --> 00:49:07,805
It's contrary to compassion.

954
00:49:07,844 --> 00:49:10,813
It's contrary to
all of the major religions.

955
00:49:10,847 --> 00:49:14,908
Capitalism is precisely
what the holy books,

956
00:49:14,952 --> 00:49:19,616
our holy books in particular,
remind us is unjust

957
00:49:19,656 --> 00:49:22,625
and in some form and fashion,

958
00:49:22,659 --> 00:49:27,426
God will come down
and eradicate somehow.

959
00:49:27,464 --> 00:49:29,796
Moore:
This was Father Dick Preston,

960
00:49:29,833 --> 00:49:33,166
the priest from Flint
who married my wife and me.

961
00:49:33,203 --> 00:49:35,364
Preston:
Capitalism is wrong,

962
00:49:35,405 --> 00:49:39,136
and therefore
has to be eliminated.

963
00:49:39,176 --> 00:49:41,167
Moore:
Eliminated?

964
00:49:41,211 --> 00:49:43,202
That might be a little harsh,

965
00:49:43,246 --> 00:49:45,237
so I decided to go
and talk to the priest

966
00:49:45,282 --> 00:49:47,580
that married my sister
and brother-in-law.

967
00:49:47,617 --> 00:49:49,915
I'm sure he would have
a more balanced approach

968
00:49:49,953 --> 00:49:52,080
when it came to capitalism.

969
00:49:52,122 --> 00:49:56,058
It is immoral, it is obscene,
it is outrageous.

970
00:49:56,093 --> 00:49:58,823
You know...

971
00:49:58,862 --> 00:50:01,194
it is really radical evil.

972
00:50:01,231 --> 00:50:03,529
It's radically evil.

973
00:50:03,567 --> 00:50:07,094
Moore: Wow, does their boss know
that they're talking like this?

974
00:50:07,137 --> 00:50:10,163
I thought it best to go
and check this out with the bishop.

975
00:50:10,207 --> 00:50:12,471
Bishop Thomas Gumbleton:
The system doesn't seem to be

976
00:50:12,509 --> 00:50:16,275
providing for the well being
of all the people.

977
00:50:16,313 --> 00:50:19,214
Andthat's what makes  it

978
00:50:19,249 --> 00:50:21,717
almost in its very nature

979
00:50:21,752 --> 00:50:25,688
something contrary
to Jesus who said,

980
00:50:25,722 --> 00:50:29,249
"Blessed are the poor,
woe to the rich."

981
00:50:29,292 --> 00:50:32,489
That's right out
of St. Luke's gospel.

982
00:50:32,529 --> 00:50:34,827
Moore: How have we put up
with this system for so long?

983
00:50:34,865 --> 00:50:37,026
I mean, it's--
they talk about--

984
00:50:37,067 --> 00:50:41,436
The system has built into it
what we call propaganda.

985
00:50:41,471 --> 00:50:43,701
I'm in awe of propaganda--

986
00:50:43,740 --> 00:50:46,709
the ability to convince people

987
00:50:46,743 --> 00:50:49,678
who are victimized
by this very system

988
00:50:49,713 --> 00:50:52,682
to support the system
and see it as good.

989
00:50:52,716 --> 00:50:56,117
We know that American capitalism
is morally right

990
00:50:56,153 --> 00:50:58,314
because its chief elements--

991
00:50:58,355 --> 00:51:01,415
private ownership,
the profit motive

992
00:51:01,458 --> 00:51:04,484
and the competitive market--
are wholesome and good.

993
00:51:04,528 --> 00:51:07,827
They are compatible with God's laws
and the teachings of the Bible.

994
00:51:08,832 --> 00:51:10,732
Moore: For as long
as I can remember,

995
00:51:10,767 --> 00:51:14,362
I've been told that competition
and profit are good things.

996
00:51:14,404 --> 00:51:16,497
( distorted )
They are compatible with God's laws

997
00:51:16,540 --> 00:51:17,700
and the teachings of the Bible.

998
00:51:17,741 --> 00:51:21,074
Moore: And if increasing profits
means locking up a few kids

999
00:51:21,111 --> 00:51:23,238
or cashing in on the death
of an employee...

1000
00:51:23,280 --> 00:51:26,113
( distorted ) Compatible with God's laws
and the teachings of the Bible.

1001
00:51:26,149 --> 00:51:29,414
Moore:...it is morally right to provide
for the stockholders.

1002
00:51:29,453 --> 00:51:31,785
( distorted )
They are compatible with God's laws

1003
00:51:31,822 --> 00:51:33,050
and the teachings of the Bible.

1004
00:51:33,090 --> 00:51:36,321
Moore:
Debt, eviction and exploitation.

1005
00:51:36,359 --> 00:51:39,817
( distorted )
God's laws and the teachings of the Bible.

1006
00:51:39,863 --> 00:51:42,798
Moore: What were we really
pledging our allegiance to?

1007
00:51:42,833 --> 00:51:45,768
( distorted )
The profit motive.

1008
00:51:45,802 --> 00:51:48,498
Moore: And so all good Americans
came to act as if they believed

1009
00:51:48,538 --> 00:51:51,701
our capitalist economic system
was compatible

1010
00:51:51,741 --> 00:51:54,073
with the teachings of the Bible.

1011
00:51:56,947 --> 00:51:59,939
( organ music playing )

1012
00:52:02,352 --> 00:52:06,186
When I was a kid,
I wanted to be a priest.

1013
00:52:06,223 --> 00:52:08,020
It wasn't because
of the fancy getups

1014
00:52:08,058 --> 00:52:10,322
or the Knights of Columbus
escorts,

1015
00:52:10,360 --> 00:52:13,659
or even the groovy nuns
who were so good to me.

1016
00:52:14,698 --> 00:52:18,225
It was because of the priests
who went on the march from Selma,

1017
00:52:18,268 --> 00:52:20,828
or tried to stop the war,

1018
00:52:20,871 --> 00:52:24,329
or devoted their lives to the poor.

1019
00:52:24,374 --> 00:52:28,333
They told me quite clearly
what Jesus said,

1020
00:52:28,378 --> 00:52:32,747
that the first shall be last
and the last shall be first:,

1021
00:52:32,782 --> 00:52:35,478
That the rich man
will have a very hard time

1022
00:52:35,519 --> 00:52:37,578
getting into heaven;

1023
00:52:37,621 --> 00:52:41,455
That we will be judged by how
we treat the least among us;

1024
00:52:41,491 --> 00:52:44,119
And that there are no people
more important to God

1025
00:52:44,161 --> 00:52:46,686
than the poor.

1026
00:52:46,730 --> 00:52:49,255
Since that time,
it seems that Jesus got hijacked

1027
00:52:49,299 --> 00:52:52,268
by a lot of people who believe
that the son of God

1028
00:52:52,302 --> 00:52:56,671
was sent here to create
heaven on earth for the well-to-do.

1029
00:52:56,706 --> 00:52:58,901
I must have missed
that part of the Bible

1030
00:52:58,942 --> 00:53:02,241
where Jesus became a capitalist.

1031
00:53:06,550 --> 00:53:08,142
Man:
Please tell me, master,

1032
00:53:08,185 --> 00:53:10,949
what must I do
to have eternal life?

1033
00:53:10,987 --> 00:53:14,514
Go forth and maximize profits.

1034
00:53:16,359 --> 00:53:19,692
You say the Kingdom of Heaven
is at hand,

1035
00:53:19,729 --> 00:53:21,253
but when exactly will it come?

1036
00:53:21,298 --> 00:53:25,496
When you deregulate
the banking industry.

1037
00:53:25,535 --> 00:53:28,629
- ( voices overlapping )
- Help me.

1038
00:53:28,672 --> 00:53:31,197
I've been this way for 20 years.

1039
00:53:33,043 --> 00:53:36,535
I'm sorry, I cannot heal
your pre-existing condition.

1040
00:53:38,548 --> 00:53:40,209
He'll have to pay out of pocket.

1041
00:53:43,620 --> 00:53:46,111
Moore: Somehow, I don't think
Jesus came to earth

1042
00:53:46,156 --> 00:53:49,319
so he could ring the bell
at the New York Stock Exchange.

1043
00:53:49,359 --> 00:53:51,350
And yet,
from the very beginning,

1044
00:53:51,394 --> 00:53:54,227
the rich have claimed him
for their own.

1045
00:53:54,264 --> 00:53:58,064
When I'm on Wall Street
and I realize

1046
00:53:58,101 --> 00:54:02,231
that that's the very nerve center
of American capitalism,

1047
00:54:02,272 --> 00:54:05,935
and I realize
what capitalism has done

1048
00:54:05,976 --> 00:54:09,605
for working people in America,
to me that's a holy place.

1049
00:54:09,646 --> 00:54:10,806
Let me add to it.

1050
00:54:10,847 --> 00:54:14,874
Over the whole duration of the lraq war
and the terror war,

1051
00:54:14,918 --> 00:54:18,752
you look at the world's stock markets
and you look at the world economy,

1052
00:54:18,788 --> 00:54:22,747
and despite these horrible pockets
of unrest and killing and murdering

1053
00:54:22,792 --> 00:54:25,693
that we've been describing,
it's never been better.

1054
00:54:25,729 --> 00:54:27,663
The global economy
has never been better

1055
00:54:27,697 --> 00:54:30,325
and the global stock markets
have never been better, Jimmy.

1056
00:54:30,367 --> 00:54:32,392
It is either a God-given miracle

1057
00:54:32,435 --> 00:54:34,403
or it has something to do
with the victories

1058
00:54:34,437 --> 00:54:36,803
of the spreading world
of capitalism or both.

1059
00:54:36,840 --> 00:54:38,774
Moore: They think
Wall Street's a holy place.

1060
00:54:38,808 --> 00:54:41,743
What do you think
Jesus would think of capitalism?

1061
00:54:41,778 --> 00:54:46,147
I think he would
simply refuse to--

1062
00:54:46,182 --> 00:54:49,419
to be part of it.

1063
00:54:50,587 --> 00:54:53,454
Moore: Jesus would refuse
to be part of it,

1064
00:54:53,490 --> 00:54:55,458
but he probably had
a special place up there

1065
00:54:55,492 --> 00:54:58,427
for whoever leaked
a secret Citibank memo

1066
00:54:58,461 --> 00:55:01,828
about their plan to rule the world.

1067
00:55:01,865 --> 00:55:03,856
Back in 2005 and 2006,

1068
00:55:03,900 --> 00:55:06,232
Citigroup wrote
three confidential memos

1069
00:55:06,269 --> 00:55:10,729
to their wealthiest investors
about how things were going.

1070
00:55:10,774 --> 00:55:13,174
They reached the conclusion
that the United States

1071
00:55:13,209 --> 00:55:15,439
was no longer
really a democracy,

1072
00:55:15,478 --> 00:55:18,242
but had become a plutonomy--

1073
00:55:18,281 --> 00:55:21,375
a society controlled exclusively
by and for the benefit

1074
00:55:21,418 --> 00:55:24,512
of the top 1%
of the population

1075
00:55:24,554 --> 00:55:26,647
who now had
more financial wealth

1076
00:55:26,690 --> 00:55:30,319
than the bottom 95% combined.

1077
00:55:30,360 --> 00:55:33,591
The memo gloated about the growing gap
between rich and poor

1078
00:55:33,630 --> 00:55:37,088
and how they were now
the new aristocracy

1079
00:55:37,133 --> 00:55:41,069
and that there was no end in sight
for the gravy train they were on.

1080
00:55:41,104 --> 00:55:44,665
There was, though,
one problem.

1081
00:55:44,708 --> 00:55:46,232
According toCitigroup,

1082
00:55:46,276 --> 00:55:48,870
the most potent
and short-term threat

1083
00:55:48,912 --> 00:55:50,709
would be societies demanding

1084
00:55:50,747 --> 00:55:53,341
a more equitable share
of the wealth.

1085
00:55:53,383 --> 00:55:57,752
In other words,
the peasants might revolt.

1086
00:55:57,787 --> 00:56:00,153
Citigroup lamented
that the non-rich

1087
00:56:00,190 --> 00:56:02,658
might not have
much economic power,

1088
00:56:02,692 --> 00:56:06,219
but they do have
equal voting power with the rich.

1089
00:56:06,262 --> 00:56:09,231
One person, one vote.

1090
00:56:09,265 --> 00:56:11,927
And that's what
really scares them--

1091
00:56:11,968 --> 00:56:14,402
that we can still vote.

1092
00:56:14,437 --> 00:56:17,736
In fact, we have
99% of the votes

1093
00:56:17,774 --> 00:56:20,572
and they only have 1%.

1094
00:56:23,646 --> 00:56:27,605
So why do the 99%
put up with this?

1095
00:56:27,650 --> 00:56:31,086
According to Citigroup,
it's because the majority of the electorate

1096
00:56:31,121 --> 00:56:33,612
believe that someday
they will have a chance

1097
00:56:33,656 --> 00:56:36,181
of becoming
well-to-do themselves

1098
00:56:36,226 --> 00:56:39,389
if they just keep trying
hard enough.

1099
00:56:41,731 --> 00:56:44,029
The wealthy were pleased
that so many people

1100
00:56:44,067 --> 00:56:46,900
had bought in
to the American Dream

1101
00:56:46,936 --> 00:56:49,996
while they, the rich,
had no intention

1102
00:56:50,039 --> 00:56:52,940
of ever sharing it with anyone.

1103
00:56:52,976 --> 00:56:56,275
I think capitalism is a lot more
important than democracy.

1104
00:56:56,312 --> 00:56:58,678
I'm not even a big believer
in democracy.

1105
00:56:58,715 --> 00:57:02,310
I always say that democracy is--
can be two wolves and a sheep

1106
00:57:02,352 --> 00:57:04,013
deciding on what to have
for dinner.

1107
00:57:04,053 --> 00:57:07,284
Moore: This is Stephen Moore--
no relation--

1108
00:57:07,323 --> 00:57:09,757
a columnist
and an editorial board member

1109
00:57:09,793 --> 00:57:11,556
of "The Wall Street Journal,"

1110
00:57:11,594 --> 00:57:15,030
the daily bible
of corporate America.

1111
00:57:15,064 --> 00:57:18,124
Look, I'm in favor of people
having the right to vote

1112
00:57:18,168 --> 00:57:20,636
and things like that, but you know
there are a lot of countries

1113
00:57:20,670 --> 00:57:24,538
that have the right to vote
that are still poor.

1114
00:57:24,574 --> 00:57:27,941
Democracy doesn't always lead
to a good economy

1115
00:57:27,977 --> 00:57:29,911
or even a good political system.

1116
00:57:29,946 --> 00:57:33,313
With capitalism, you are free
to do what you want,

1117
00:57:33,349 --> 00:57:35,408
to make whatever you want
out of yourself.

1118
00:57:35,452 --> 00:57:36,976
It doesn't mean
you're gonna succeed.

1119
00:57:37,020 --> 00:57:41,423
Remember, the US Constitution
does not guarantee happiness.

1120
00:57:41,458 --> 00:57:44,086
Moore:
Ah, the Constitution.

1121
00:57:44,127 --> 00:57:47,893
All my life I've heard that America
is a capitalist country.

1122
00:57:47,931 --> 00:57:52,197
So I went to see the original Constitution
and check out if it was true.

1123
00:57:52,235 --> 00:57:55,671
I'm trying to see where it sets up
our economic system,

1124
00:57:55,705 --> 00:57:58,936
Iike where it says we have
a capitalist economy.

1125
00:57:58,975 --> 00:58:01,136
Guard:
The jurisdiction.

1126
00:58:01,177 --> 00:58:02,974
- Judicial part of the--
- Down there?

1127
00:58:03,012 --> 00:58:06,812
Moore: There was no mention
of free market or free enterprise

1128
00:58:06,850 --> 00:58:09,444
or capitalism anywhere.

1129
00:58:10,487 --> 00:58:13,752
In fact, all I saw
was "We the people,"

1130
00:58:13,790 --> 00:58:16,384
something about
"a more perfect union,"

1131
00:58:16,426 --> 00:58:19,793
and "promoting
the general welfare."

1132
00:58:19,829 --> 00:58:24,323
Welfare, union, we?

1133
00:58:24,367 --> 00:58:26,767
That sounded like that other -ism.

1134
00:58:26,803 --> 00:58:30,239
But no, that's democracy.

1135
00:58:30,273 --> 00:58:31,975
And I began to wonder,
"What would it be like

1136
00:58:31,975 --> 00:58:32,999
And I began to wonder,
"What would it be like

1137
00:58:33,042 --> 00:58:36,375
if the workplace
was a democracy?"

1138
00:58:36,412 --> 00:58:39,745
There's always been a big separation
between how the country is run

1139
00:58:39,782 --> 00:58:43,013
and how businesses
are supposed to run.

1140
00:58:43,052 --> 00:58:44,246
Moore:
It's true.

1141
00:58:44,287 --> 00:58:46,152
There seems to be a disconnect

1142
00:58:46,189 --> 00:58:48,521
between our professed love
of democracy

1143
00:58:48,558 --> 00:58:51,584
and how we're so willing
to accept a dictatorship

1144
00:58:51,628 --> 00:58:54,495
every day we show up to work.

1145
00:58:54,531 --> 00:58:58,331
It's not that way
at lsthmus Engineering in Wisconsin.

1146
00:58:58,368 --> 00:59:02,202
They design and build
robotic machines for industry.

1147
00:59:02,238 --> 00:59:05,401
It's a $15 million-a-year business.

1148
00:59:05,441 --> 00:59:07,238
Man:
All of the workers

1149
00:59:07,277 --> 00:59:10,610
are the owners of the business.

1150
00:59:10,647 --> 00:59:14,208
Moore: He's not talking about
some bullshit stock option.

1151
00:59:14,250 --> 00:59:17,651
He means they're the true owners.

1152
00:59:17,687 --> 00:59:20,520
Man: And it's a democratically-run
operation where every member

1153
00:59:20,557 --> 00:59:23,526
has one vote and an equal say.

1154
00:59:23,560 --> 00:59:25,824
- All in favor?
- All in favor?

1155
00:59:25,862 --> 00:59:28,888
Man: It takes the money
out of the equation.

1156
00:59:28,932 --> 00:59:30,957
Moore: By taking the money
out of the equation

1157
00:59:31,000 --> 00:59:33,230
so that they can call the shots,

1158
00:59:33,269 --> 00:59:35,601
they end up making more money.

1159
00:59:35,638 --> 00:59:38,266
Cool, huh?

1160
00:59:41,945 --> 00:59:44,743
And how patriotic
that they want to extend

1161
00:59:44,781 --> 00:59:48,615
their love of American democracy
to their job.

1162
00:59:54,924 --> 00:59:56,858
Just imagine if the place
where you worked

1163
00:59:56,893 --> 01:00:00,056
was run by you
and your fellow workers.

1164
01:00:00,096 --> 01:00:01,961
You probably wouldn't
lay off your coworkers

1165
01:00:01,998 --> 01:00:04,933
to increase the value
of your stock, would you?

1166
01:00:04,968 --> 01:00:06,435
Or give yourself
a pay raise

1167
01:00:06,469 --> 01:00:09,336
while making your coworkers
take a pay cut.

1168
01:00:09,372 --> 01:00:11,237
Man:
We don't really do that here.

1169
01:00:11,274 --> 01:00:14,869
You really can't because everyone else
would be looking at you

1170
01:00:14,911 --> 01:00:17,471
saying, "Why is this guy
so fricking greedy?"

1171
01:00:17,513 --> 01:00:20,107
You know,
it would be too obvious.

1172
01:00:20,149 --> 01:00:22,014
The bottom line is you've
got plenty of people

1173
01:00:22,051 --> 01:00:23,848
who roll up their sleeves
every day and go to work.

1174
01:00:23,886 --> 01:00:25,786
But if there's someone
way up there on the chain

1175
01:00:25,822 --> 01:00:28,848
that collects all the extra money,
that's not fair.

1176
01:00:28,891 --> 01:00:32,657
Moore:
Huh, fairness in the workplace--

1177
01:00:32,695 --> 01:00:35,027
what a novel idea.

1178
01:00:36,466 --> 01:00:39,697
Out in California,
there's a bread factory

1179
01:00:39,736 --> 01:00:43,297
where workers make thousands
of loaves of bread every day

1180
01:00:43,339 --> 01:00:45,330
Man:
The more hours you work towards

1181
01:00:45,375 --> 01:00:46,672
the benefit
of the co-op,

1182
01:00:46,709 --> 01:00:49,576
the more you share
in the profits.

1183
01:00:49,612 --> 01:00:51,807
Man #2:
The workers are happy here.

1184
01:00:51,848 --> 01:00:54,316
No big ls, little yous.
Everyone's the same.

1185
01:00:54,350 --> 01:00:57,842
Me as the CEO,
I get the same share

1186
01:00:57,887 --> 01:00:59,912
that anybody else does.

1187
01:00:59,956 --> 01:01:01,753
And that has proven

1188
01:01:01,791 --> 01:01:04,123
to be very lucrative
for us as workers.

1189
01:01:05,962 --> 01:01:10,524
Moore: Assembly-line workers here
earn over $65,000 a year,

1190
01:01:10,566 --> 01:01:12,659
more than
three times the pay

1191
01:01:12,702 --> 01:01:15,262
for a starting pilot
at American Eagle.

1192
01:01:15,304 --> 01:01:18,102
Man: I'm just hoping
that people take notice

1193
01:01:18,141 --> 01:01:20,302
of this type
of organizational activity

1194
01:01:20,343 --> 01:01:23,744
and start considering it
as an alternative.

1195
01:01:23,780 --> 01:01:25,111
Why do you want
to get rich?

1196
01:01:25,148 --> 01:01:27,082
How many cars do
you really need in life?

1197
01:01:27,116 --> 01:01:31,712
Moore: Clearly, he's not a car guy,
but that's okay.

1198
01:01:31,754 --> 01:01:35,281
His bread factory and hundreds of other
worker-owned businesses

1199
01:01:35,324 --> 01:01:38,919
are proof that people aren't always
motivated by profit.

1200
01:01:38,961 --> 01:01:41,759
( fanfare )

1201
01:01:41,798 --> 01:01:44,426
Announcer:
An historic victory over a dread disease.

1202
01:01:44,467 --> 01:01:47,834
Moore: lnstead of using his genius
to make a ton of money,

1203
01:01:47,870 --> 01:01:51,135
Dr. Jonas Salk spent
all of his time

1204
01:01:51,174 --> 01:01:53,665
putting monkey kidneys
in a blender

1205
01:01:53,710 --> 01:01:55,769
trying to find a cure
for polio.

1206
01:01:55,812 --> 01:02:00,681
And when he did,
he decided to give it away for free.

1207
01:02:00,717 --> 01:02:03,777
This man could have been rich
many times over

1208
01:02:03,820 --> 01:02:07,153
had he sold his vaccine
to a pharmaceutical company.

1209
01:02:07,190 --> 01:02:09,624
But he thought
his talents should be used

1210
01:02:09,659 --> 01:02:10,853
for the greater good.

1211
01:02:10,893 --> 01:02:13,828
And the decent salary
he made as a doctor

1212
01:02:13,863 --> 01:02:16,263
and a research professor
was enough for him to live

1213
01:02:16,299 --> 01:02:18,358
a comfortable life.

1214
01:02:18,401 --> 01:02:20,801
Who owns the patent
on this vaccine?

1215
01:02:20,837 --> 01:02:22,805
Well, the people,
I would say.

1216
01:02:22,839 --> 01:02:26,400
There is no patent.
Would you patent the sun?

1217
01:02:26,442 --> 01:02:30,276
Moore: Yes, we've come a long way
since the days of Dr. Salk.

1218
01:02:30,313 --> 01:02:34,443
Because today our best minds
are used for something else.

1219
01:02:34,484 --> 01:02:35,251
Where do we send our top
math and science people?

1220
01:02:35,251 --> 01:02:38,516
Where do we send our top
math and science people?

1221
01:02:38,554 --> 01:02:39,885
Into finance.

1222
01:02:39,922 --> 01:02:42,390
They don't go into
science in America.

1223
01:02:42,425 --> 01:02:45,121
They go to Wall Street.

1224
01:02:45,161 --> 01:02:48,221
Moore: Today's students,
unlike in Dr. Salk's time,

1225
01:02:48,264 --> 01:02:50,824
can graduate from college
with a student loan debt

1226
01:02:50,867 --> 01:02:53,893
of up to $100,000 or more.

1227
01:02:53,936 --> 01:02:56,234
These students are then
beholden to the banks

1228
01:02:56,272 --> 01:02:59,241
for the next 20 years.

1229
01:02:59,275 --> 01:03:02,108
And the best way for them
to pay off these banks

1230
01:03:02,145 --> 01:03:04,079
is to go to work for them

1231
01:03:04,113 --> 01:03:06,741
instead of working
for the common good.

1232
01:03:06,783 --> 01:03:11,152
Black: We've taken people that could
be enormously productive--

1233
01:03:11,187 --> 01:03:12,814
just what we're short of
in America--

1234
01:03:12,855 --> 01:03:15,881
and we take them and we
put them in an activity

1235
01:03:15,925 --> 01:03:17,916
that isn't simply less
productive,

1236
01:03:17,960 --> 01:03:20,758
but where they're
actually destructive;

1237
01:03:20,797 --> 01:03:24,597
where actually every day they work,
they make the world worse.

1238
01:03:24,634 --> 01:03:27,694
Moore: So what exactly were the top
students from Harvard

1239
01:03:27,737 --> 01:03:29,728
and other schools
working on these days?

1240
01:03:29,772 --> 01:03:31,797
Derivatives... derivatives...
derivatives... derivatives...

1241
01:03:31,841 --> 01:03:34,241
Credit default swaps.

1242
01:03:34,277 --> 01:03:36,302
I can't make any sense
out of this.

1243
01:03:36,345 --> 01:03:38,108
I might as well quit.

1244
01:03:38,147 --> 01:03:40,047
Moore:
That's exactly how I felt

1245
01:03:40,087 --> 01:03:42,248
when I started hearing
these new terms.

1246
01:03:42,290 --> 01:03:46,420
So I went down to the New York Stock
Exchange to get some answers.

1247
01:03:46,460 --> 01:03:48,189
Sir, can you explain
derivatives to me?

1248
01:03:48,229 --> 01:03:50,459
Can anybody explain
derivatives or credit default swaps?

1249
01:03:50,498 --> 01:03:51,726
Can someone explain
to me what these are?

1250
01:03:51,766 --> 01:03:53,996
Sir, can you tell me what
a credit default swap is?

1251
01:03:54,035 --> 01:03:55,559
Can you explain
a derivative to me?

1252
01:03:55,603 --> 01:03:57,070
Can you tell me
what a derivative is?

1253
01:03:57,104 --> 01:03:59,368
- Nobody'll talk to me.
- I'm just a blue-collar guy.

1254
01:03:59,407 --> 01:04:01,068
I can see that.
Hey.

1255
01:04:01,108 --> 01:04:03,633
- I'm looking for some advice.
- Yeah, good.

1256
01:04:03,678 --> 01:04:06,806
You guys got any
advice for me here?

1257
01:04:06,848 --> 01:04:08,839
A derivative?
Credit default swap?

1258
01:04:08,883 --> 01:04:10,350
( sighs )

1259
01:04:10,384 --> 01:04:12,909
Moore:
I did find one guy on Wall Street

1260
01:04:12,954 --> 01:04:14,785
who wasn't a film critic.

1261
01:04:14,822 --> 01:04:18,189
Marcus Haupt is an lvy League
educated engineer

1262
01:04:18,226 --> 01:04:20,854
who was a vice president
of Lehman Brothers

1263
01:04:20,895 --> 01:04:23,386
and spent 15 years
on Wall Street

1264
01:04:23,431 --> 01:04:26,457
creating what they call
complex financial instruments.

1265
01:04:26,500 --> 01:04:27,990
What is a derivative?

1266
01:04:28,035 --> 01:04:30,128
A derivative
is a secondary bet

1267
01:04:30,171 --> 01:04:31,968
on an underlying product.

1268
01:04:32,006 --> 01:04:34,031
So you may have a stock
and you have an option on that stock.

1269
01:04:34,075 --> 01:04:37,306
And that option on that stock
allows you the privilege

1270
01:04:37,345 --> 01:04:39,711
but not the obligation
to buy or sell.

1271
01:04:39,747 --> 01:04:42,773
How should we put this?
You are allowed to make a decision

1272
01:04:42,817 --> 01:04:45,308
of whether or not you want to ultimately
take that exposure.

1273
01:04:45,353 --> 01:04:47,913
Let me explain it another way.
The derivative's price

1274
01:04:47,955 --> 01:04:49,946
is based on the price
of something else.

1275
01:04:49,991 --> 01:04:51,925
It's kind of like
a second-degree equation.

1276
01:04:51,959 --> 01:04:54,689
If you think of,
let's say...

1277
01:04:54,729 --> 01:04:58,165
um, maybe I should go back.

1278
01:04:58,199 --> 01:05:00,360
Let me start this over again.
Let's go back here.

1279
01:05:01,435 --> 01:05:04,029
Moore:
I was lost.

1280
01:05:04,071 --> 01:05:06,767
Maybe there's someone
at Harvard University

1281
01:05:06,807 --> 01:05:08,434
who could explain it to me.

1282
01:05:08,476 --> 01:05:10,910
Yeah, the-- the-- the--

1283
01:05:10,945 --> 01:05:13,880
the-- the-- the--
the buyer--

1284
01:05:13,915 --> 01:05:17,078
so the seller holds the loan
and it might default.

1285
01:05:17,118 --> 01:05:20,315
And they sell off--

1286
01:05:20,354 --> 01:05:23,118
somebody-- somebody else--

1287
01:05:23,157 --> 01:05:26,126
Sorry, let me just back up.

1288
01:05:26,160 --> 01:05:29,857
I apologize.
These are pretty exotic.

1289
01:05:29,897 --> 01:05:31,922
Moore:
Derivatives are nothing more

1290
01:05:31,966 --> 01:05:34,196
than complicated
betting schemes.

1291
01:05:34,235 --> 01:05:37,170
Here's what the math equation
of one looks like.

1292
01:05:37,204 --> 01:05:39,035
Can't figure it out?

1293
01:05:39,073 --> 01:05:41,564
That's okay.
You're not supposed to.

1294
01:05:41,609 --> 01:05:43,873
They've made them
purposely confusing

1295
01:05:43,911 --> 01:05:45,970
so they can get away
with murder.

1296
01:05:46,013 --> 01:05:47,981
Let's say you're a lawyer
and you're coming in

1297
01:05:48,015 --> 01:05:49,846
and you're from the government
and you're trying to evaluate

1298
01:05:49,884 --> 01:05:52,375
if these things
violate the tax code or not.

1299
01:05:52,420 --> 01:05:54,320
If you can figure out
what they're doing,

1300
01:05:54,355 --> 01:05:56,687
most likely that Wall Street
firm will offer you a job.

1301
01:05:56,724 --> 01:06:00,251
Could I go to Wall Street
and just ask them

1302
01:06:00,294 --> 01:06:02,387
to set up a derivative
on anything?

1303
01:06:02,430 --> 01:06:03,829
Yes.

1304
01:06:03,864 --> 01:06:05,331
Believe me,
if it's out there

1305
01:06:05,366 --> 01:06:06,958
there's a derivative on it.

1306
01:06:07,001 --> 01:06:09,492
Moore:
So this is what Wall Street has come to--

1307
01:06:09,537 --> 01:06:12,005
an insane casino.

1308
01:06:12,039 --> 01:06:14,530
We've allowed them
to bet on anything,

1309
01:06:14,575 --> 01:06:17,812
including our family home.

1310
01:06:23,918 --> 01:06:26,887
Reporter #1 :...the most powerful central
banker of the 20th century.

1311
01:06:26,921 --> 01:06:29,185
Reporter #2:
Greenspan has become an economic icon.

1312
01:06:29,223 --> 01:06:32,454
Reporter #3: Alan Greenspan says
the economy is hunky-dory.

1313
01:06:32,493 --> 01:06:34,893
Reporter #4: Greenspan gone wild.
It's like "Girls Gone Wild."

1314
01:06:34,929 --> 01:06:37,796
What do Mick Jagger
and Alan Greenspan have in common?

1315
01:06:37,832 --> 01:06:41,097
Alan Greenspan,
who at that moment in time

1316
01:06:41,135 --> 01:06:43,330
was surely thought to be
the smartest man

1317
01:06:43,371 --> 01:06:45,134
who had walked the face
of the earth,

1318
01:06:45,172 --> 01:06:48,300
he starts using a phrase,
"tap your home equity,"

1319
01:06:48,342 --> 01:06:51,175
--that Americans can tap
their home equity,

1320
01:06:51,212 --> 01:06:53,442
which is just
Alan Greenspan-speak

1321
01:06:53,481 --> 01:06:56,416
for "borrow against
your home."

1322
01:06:56,450 --> 01:06:58,645
And if you can't repay it
you'll lose your house.

1323
01:06:58,686 --> 01:07:02,850
It actually started by talking
mostly older Americans,

1324
01:07:02,890 --> 01:07:04,414
people who already
had homes,

1325
01:07:04,458 --> 01:07:07,325
into refinancing
their homes

1326
01:07:07,361 --> 01:07:09,124
to get them out of houses.

1327
01:07:09,163 --> 01:07:12,997
Moore: Yes, get senior citizens
out of their houses.

1328
01:07:13,034 --> 01:07:16,026
The scam to swindle people
out of the homes

1329
01:07:16,070 --> 01:07:19,062
they already owned
was masterful.

1330
01:07:19,106 --> 01:07:21,631
Here's how it worked.

1331
01:07:21,675 --> 01:07:25,338
First, tell these homeowners
that they own a bank.

1332
01:07:25,379 --> 01:07:28,348
And that bank is your home.

1333
01:07:28,382 --> 01:07:32,113
So if your home
is worth $250,000,

1334
01:07:32,153 --> 01:07:35,213
that makes you
a quarter millionaire.

1335
01:07:35,256 --> 01:07:37,622
You're sitting
on a goldmine.

1336
01:07:37,658 --> 01:07:40,559
You own your own bank.

1337
01:07:40,594 --> 01:07:42,892
The bank of you.

1338
01:07:42,930 --> 01:07:46,297
And you can use your bank
to get more money.

1339
01:07:46,333 --> 01:07:47,800
Just refinance.

1340
01:07:47,835 --> 01:07:49,530
Everyone's doing it.

1341
01:07:49,570 --> 01:07:52,869
Of course hidden in the dozens
or hundreds of pages of fine print

1342
01:07:52,907 --> 01:07:55,171
are tricky clauses that allow the bank
to raise your interest rate

1343
01:07:55,209 --> 01:07:56,870
to a number
you didn't know about,

1344
01:07:56,911 --> 01:07:58,936
perhaps so high that you won't
be able to repay your loan.

1345
01:07:58,979 --> 01:08:00,708
But that's okay.

1346
01:08:00,748 --> 01:08:04,206
If you can't pay it
we'll just take your house.

1347
01:08:06,720 --> 01:08:09,052
Of course, before they
could take your house

1348
01:08:09,090 --> 01:08:12,059
they needed to change
the regulations and the rules.

1349
01:08:12,093 --> 01:08:14,926
Moore:
What's this photo I found here?

1350
01:08:14,962 --> 01:08:17,590
It was in an annual
report of the FDlC.

1351
01:08:17,631 --> 01:08:22,125
John Gilleran, the head of the Office
of Thrift Supervision,

1352
01:08:22,169 --> 01:08:23,693
which is supposed to regulate
savings and loans,

1353
01:08:23,737 --> 01:08:26,035
he's the guy
with the chainsaw.

1354
01:08:26,073 --> 01:08:28,439
And the four other
grinning idiots

1355
01:08:28,476 --> 01:08:33,004
in the photo are the three
leading lobbyists in banking

1356
01:08:33,047 --> 01:08:37,006
and the deputy director of the Federal
Deposit lnsurance Corporation.

1357
01:08:37,051 --> 01:08:41,010
And they're poised over
a pile of regulations.

1358
01:08:41,055 --> 01:08:42,818
And this is supposed
to demonstrate

1359
01:08:42,857 --> 01:08:45,951
their intention
to destroy regulation.

1360
01:08:45,993 --> 01:08:48,461
And they succeeded.

1361
01:08:48,496 --> 01:08:50,361
And now we know what happens

1362
01:08:50,397 --> 01:08:52,524
when you destroy
financial regulation.

1363
01:08:52,566 --> 01:08:54,932
You produce a financial
catastrophe.

1364
01:08:54,969 --> 01:08:57,597
A growing family
with a lot of debt;

1365
01:08:57,638 --> 01:08:59,799
A young couple
with no down payment;

1366
01:08:59,840 --> 01:09:02,866
A business owner whose
income was hard to document;

1367
01:09:02,910 --> 01:09:05,879
Every one of them was
turned down for a home loan

1368
01:09:05,913 --> 01:09:07,471
by three different lenders.

1369
01:09:07,515 --> 01:09:10,780
I'm with Countrywide
and I got them all approved.

1370
01:09:10,818 --> 01:09:13,810
Moore:
Don't be fooled by the pleasant demeanor

1371
01:09:13,854 --> 01:09:15,515
and blonde hair.

1372
01:09:15,556 --> 01:09:17,956
It's the same pitch
the mafia gives you

1373
01:09:17,992 --> 01:09:19,789
in the neighborhood.

1374
01:09:19,827 --> 01:09:21,351
( imitating Brando )
I know how you feel.

1375
01:09:21,395 --> 01:09:23,386
You got a lot of debt.

1376
01:09:23,430 --> 01:09:25,591
You don't have any money
for the down payment.

1377
01:09:25,633 --> 01:09:27,999
You can't find
your documents.

1378
01:09:28,035 --> 01:09:31,232
It's okay.
I'll make you a loan you can't refuse.

1379
01:09:31,272 --> 01:09:33,137
It's called subprime.

1380
01:09:33,174 --> 01:09:35,472
You pay no interest now.

1381
01:09:35,509 --> 01:09:37,807
You pay a little more later.

1382
01:09:37,845 --> 01:09:41,303
Don't worry about later.
We'll take care of you.

1383
01:09:41,348 --> 01:09:44,511
And like the mafia,
Countrywide,

1384
01:09:44,552 --> 01:09:48,181
Citibank, Wells Fargo,
Chase...

1385
01:09:48,222 --> 01:09:50,019
Let's go.

1386
01:09:50,057 --> 01:09:52,491
...they would someday
stop by to collect

1387
01:09:52,526 --> 01:09:55,359
and take your home.

1388
01:09:57,731 --> 01:10:01,360
Randy Hacker:
I was paying 1,700 a month and making it.

1389
01:10:01,402 --> 01:10:04,030
Then it went to 2,000.
Then it went to 2,300.

1390
01:10:04,071 --> 01:10:06,164
Then it went to 2,700.

1391
01:10:06,207 --> 01:10:08,141
Can't do it.

1392
01:10:11,946 --> 01:10:15,973
Moore: These are the Hackers
of Peoria, lllinois.

1393
01:10:16,016 --> 01:10:18,610
Randy is a railroad worker

1394
01:10:18,652 --> 01:10:21,416
and Donna works
for retirement homes.

1395
01:10:21,455 --> 01:10:25,323
Their farm, which had
been in the family for over four decades,

1396
01:10:25,359 --> 01:10:28,726
had been foreclosed
on by Citibank.

1397
01:10:28,762 --> 01:10:31,560
Randy had had an accident
on the job years ago

1398
01:10:31,599 --> 01:10:33,362
and was now
on disability.

1399
01:10:35,970 --> 01:10:40,634
They absolutely just plain
fucking stole everything,

1400
01:10:40,674 --> 01:10:42,665
my whole life's savings
and everything,

1401
01:10:42,710 --> 01:10:46,578
by a stroke of a pen
and a lawyer and a judge.

1402
01:10:46,614 --> 01:10:49,947
Moore: The Hackers showed me
the foreclosure notice from Citibank.

1403
01:10:49,984 --> 01:10:51,611
What caught my eye

1404
01:10:51,652 --> 01:10:54,382
was the town from which
their mortgage came.

1405
01:10:54,421 --> 01:10:58,050
It turns out that a company
owned by the big banks

1406
01:10:58,092 --> 01:11:01,027
has chosen to run
60 million mortgages through,

1407
01:11:01,061 --> 01:11:04,360
of all places, one of
the most desperate towns

1408
01:11:04,398 --> 01:11:06,059
in the United States.

1409
01:11:06,100 --> 01:11:08,568
This company hires
the people of Flint

1410
01:11:08,602 --> 01:11:10,968
to send out nearly 60%

1411
01:11:11,005 --> 01:11:14,304
of all the foreclosure
notices in the country.

1412
01:11:14,341 --> 01:11:17,572
In what seems to be some
sort of cruel joke,

1413
01:11:17,611 --> 01:11:20,079
my hometown was now
in the service

1414
01:11:20,114 --> 01:11:22,548
of helping to turn
the rest of America

1415
01:11:22,583 --> 01:11:24,710
into Flint.

1416
01:11:28,956 --> 01:11:31,948
Typically when a bank forces
a family like the Hackers

1417
01:11:31,992 --> 01:11:34,654
out of their home
they hire professionals

1418
01:11:34,695 --> 01:11:36,458
to come and clean up
the place.

1419
01:11:37,898 --> 01:11:40,162
In this case,
the bank figured,

1420
01:11:40,200 --> 01:11:43,931
why pay top dollar when
we've got a desperate family

1421
01:11:43,971 --> 01:11:45,996
who will work cheap?

1422
01:11:46,040 --> 01:11:48,167
In a final humiliation

1423
01:11:48,208 --> 01:11:50,403
the Hackers went
to work for the bank

1424
01:11:50,444 --> 01:11:52,309
that took their home.

1425
01:11:54,281 --> 01:11:57,011
Donna: "Property is to be turned over
in broom-clean condition

1426
01:11:57,051 --> 01:11:59,986
with all trash, debris
and personal property removed.

1427
01:12:01,822 --> 01:12:03,790
Upon delivery of the keys

1428
01:12:03,824 --> 01:12:07,419
the PAS representative will
hand you a check for $1,000."

1429
01:12:13,067 --> 01:12:16,264
Randy:
You know, 1,000 bucks

1430
01:12:16,303 --> 01:12:19,739
to get out
of my own house and stuff,

1431
01:12:19,773 --> 01:12:22,833
I really want to thank them.
That was really something.

1432
01:12:22,876 --> 01:12:25,640
My wife worked for a week
to clean the house up

1433
01:12:25,679 --> 01:12:27,806
and make sure it was
presentable to somebody else.

1434
01:12:27,848 --> 01:12:30,476
I'm glad they did that.
I have to thank them.

1435
01:12:30,517 --> 01:12:32,485
It was awful nice of them.

1436
01:12:32,519 --> 01:12:35,249
Yeah, I'd like to
thank them all right.

1437
01:12:44,264 --> 01:12:46,858
I have one more.

1438
01:12:49,203 --> 01:12:51,933
Oh, that goes to
our bedroom door.

1439
01:12:51,972 --> 01:12:54,031
Trying to think what--

1440
01:12:54,074 --> 01:12:56,372
that goes that that.
I had a lock on it

1441
01:12:56,410 --> 01:12:58,310
to keep kids out
'cause I have guns.

1442
01:12:58,345 --> 01:13:00,677
And here's
your money, Randy.

1443
01:13:00,714 --> 01:13:03,308
Moore:
What you're witnessing

1444
01:13:03,350 --> 01:13:04,874
is a robbery.

1445
01:13:06,320 --> 01:13:09,812
I'm starting to understand
why people,

1446
01:13:09,857 --> 01:13:12,621
they lose their minds
and start shooting people.

1447
01:13:12,659 --> 01:13:15,184
I'm not gonna say I would
do something like that,

1448
01:13:15,229 --> 01:13:17,754
but I can see how
they get people

1449
01:13:17,798 --> 01:13:19,993
into that situation where

1450
01:13:20,033 --> 01:13:23,491
people go in there with bombs
and blow them up

1451
01:13:23,537 --> 01:13:25,471
and shoot at them.

1452
01:13:25,506 --> 01:13:27,599
Anything that happens to them
people, they deserve it,

1453
01:13:27,641 --> 01:13:29,404
is all I can say.

1454
01:13:29,443 --> 01:13:31,638
I hope something happens--

1455
01:13:31,678 --> 01:13:34,875
yeah, well.

1456
01:13:34,915 --> 01:13:37,179
Can't say no more.

1457
01:13:41,889 --> 01:13:44,016
Some roadkill right there.

1458
01:13:44,057 --> 01:13:45,786
Moore:
This is Bob Feinberg.

1459
01:13:45,826 --> 01:13:49,592
He handled all the VlP loans
for Countrywide,

1460
01:13:49,630 --> 01:13:53,566
the nation's largest
mortgage company.

1461
01:13:53,600 --> 01:13:55,534
Although Countrywide
mainly specializes

1462
01:13:55,569 --> 01:13:58,970
in outrageously high interest
loans for low income people,

1463
01:13:59,006 --> 01:14:01,304
Bob's job was to take care of

1464
01:14:01,341 --> 01:14:05,107
some of the country's
top political leaders.

1465
01:14:05,145 --> 01:14:07,739
Bob: One day one of the bigger
bosses called me in the office.

1466
01:14:07,781 --> 01:14:09,510
He said, "l want you
to call this guy."

1467
01:14:09,550 --> 01:14:11,518
I said okay.

1468
01:14:11,552 --> 01:14:14,487
And he said,
"He's a friend of Angelo's."

1469
01:14:14,521 --> 01:14:16,989
Angelo Mozilo's the CEO
of Countrywide.

1470
01:14:17,024 --> 01:14:21,188
"Give him this rate.
Waive these fees.

1471
01:14:21,228 --> 01:14:25,255
And get it locked in.
And don't fuck it up."

1472
01:14:25,299 --> 01:14:28,063
And I was like,
"Oh, okay."

1473
01:14:29,736 --> 01:14:31,397
So it was
a special department

1474
01:14:31,438 --> 01:14:34,066
that handled friends
of Angelo.

1475
01:14:35,442 --> 01:14:36,909
Discounts were being given.

1476
01:14:36,944 --> 01:14:38,536
Fees were being waived.

1477
01:14:38,579 --> 01:14:41,605
And at times paperwork
was being waived.

1478
01:14:41,648 --> 01:14:45,744
We literally would
write on the file "FOA."

1479
01:14:45,786 --> 01:14:48,516
These were really
important people.

1480
01:14:48,555 --> 01:14:51,251
I had Richard Holbrooke--
Ambassador Holbrooke,

1481
01:14:51,291 --> 01:14:53,486
Donna Shalala,

1482
01:14:53,527 --> 01:14:56,690
people on Capitol Hill, people that
regulate the mortgage markets,

1483
01:14:56,730 --> 01:14:58,994
people that regulate
Wall Street,

1484
01:14:59,032 --> 01:15:02,263
and Jim Johnson,
head of Fannie Mae,

1485
01:15:02,302 --> 01:15:05,169
Alphonso Jackson
the secretary of HUD...

1486
01:15:06,773 --> 01:15:09,765
Senator Conrad from
the Finance Committee.

1487
01:15:09,810 --> 01:15:12,836
I had the TV on in my house.
I was in the kitchen

1488
01:15:12,880 --> 01:15:15,075
and I heard a voice
pontificating

1489
01:15:15,115 --> 01:15:17,948
about predatory lending
and how we have to put an end to it.

1490
01:15:17,985 --> 01:15:20,249
Our nation's financial regulators

1491
01:15:20,287 --> 01:15:22,016
are supposed to
be the cops on the beat

1492
01:15:22,055 --> 01:15:24,455
protecting working Americans

1493
01:15:24,491 --> 01:15:26,220
from unscrupulous
financial actions.

1494
01:15:26,260 --> 01:15:28,956
Bob: Senator Dodd--
Christopher Dodd-- was speaking.

1495
01:15:28,996 --> 01:15:32,659
And I just stared at
the television and I was upset.

1496
01:15:32,699 --> 01:15:35,224
Some of these loans
have legitimate uses,

1497
01:15:35,269 --> 01:15:37,294
when made to sophisticated
borrowers

1498
01:15:37,337 --> 01:15:39,464
with higher incomes.

1499
01:15:39,506 --> 01:15:42,202
I had done a number
of loans for him

1500
01:15:42,242 --> 01:15:44,972
in which he got discounts
and all the things

1501
01:15:45,012 --> 01:15:46,775
that go with being
a friend of Angelo's

1502
01:15:46,813 --> 01:15:48,337
and all the good stuff.

1503
01:15:48,382 --> 01:15:50,350
Moore: The Senate Banking
and Housing Committee

1504
01:15:50,384 --> 01:15:53,012
is supposed to be the watchdog
of the mortgage industry.

1505
01:15:53,053 --> 01:15:56,318
Senator Dodd is the chairman
of this committee

1506
01:15:56,356 --> 01:15:58,984
and has served on it
for over 28 years.

1507
01:15:59,026 --> 01:16:01,256
As  afriend  of Angelo

1508
01:16:01,295 --> 01:16:03,991
he received
over $1 million worth

1509
01:16:04,031 --> 01:16:06,625
of discounted loans
from Countrywide.

1510
01:16:06,667 --> 01:16:10,433
Someone next door here
is selling a toxic

1511
01:16:10,470 --> 01:16:12,700
piece of crap
loan to somebody.

1512
01:16:12,739 --> 01:16:16,573
I was required to give the most
suitable loan to that VlP.

1513
01:16:16,610 --> 01:16:18,475
Moore:
Did you ever feel that

1514
01:16:18,512 --> 01:16:20,605
what you were doing
might be bribery?

1515
01:16:20,647 --> 01:16:23,616
Bob: I didn't feel like I was
bribing anybody, no.

1516
01:16:23,650 --> 01:16:27,108
I was just doing my job.
I was the VlP guy.

1517
01:16:27,154 --> 01:16:28,883
Everyone in the company
knew who I was.

1518
01:16:28,922 --> 01:16:30,583
You know, everyone.

1519
01:16:30,624 --> 01:16:33,184
So it was kind of
a flattering situation.

1520
01:16:33,226 --> 01:16:36,718
But no, I don't feel like I did
anything wrong at all.

1521
01:16:36,763 --> 01:16:39,823
And if I didn't do it, somebody else
would have been doing it.

1522
01:16:41,702 --> 01:16:44,227
Moore:
That's why we need people like Bill Black,

1523
01:16:44,271 --> 01:16:46,432
one of the bank regulators
who uncovered

1524
01:16:46,473 --> 01:16:48,703
the Savings & Loan scandal
in the 1980s.

1525
01:16:48,742 --> 01:16:50,869
Something improper happened

1526
01:16:50,911 --> 01:16:53,209
and I bet you
the regulators know.

1527
01:16:53,246 --> 01:16:56,181
Moore: One of the leading figures of
that scandal, Charles Keating,

1528
01:16:56,216 --> 01:16:59,014
had an idea on what to do
with Bill Black

1529
01:16:59,052 --> 01:17:01,543
and sent a memo out
with these instructions.

1530
01:17:02,723 --> 01:17:05,749
I asked him who was
looking out for us today.

1531
01:17:05,792 --> 01:17:08,420
Where was the FBl
in all of this?

1532
01:17:08,462 --> 01:17:11,192
The FBl began
publicly warning

1533
01:17:11,231 --> 01:17:13,722
in September 2004

1534
01:17:13,767 --> 01:17:16,998
that there was an epidemic
of mortgage fraud

1535
01:17:17,037 --> 01:17:19,232
perpetrated by the banks.

1536
01:17:19,272 --> 01:17:20,933
Epidemic was their word.

1537
01:17:20,974 --> 01:17:23,670
But when 9/11 hit,

1538
01:17:23,710 --> 01:17:26,941
the Bush administration
transferred

1539
01:17:26,980 --> 01:17:31,041
at least 500 white-collar
FBl specialists

1540
01:17:31,084 --> 01:17:33,882
out of dealing
with white-collar crime,

1541
01:17:33,920 --> 01:17:36,354
even though we were entering

1542
01:17:36,390 --> 01:17:38,358
during the entire
Bush administration

1543
01:17:38,392 --> 01:17:40,952
the greatest wave
of white-collar crime

1544
01:17:40,994 --> 01:17:44,521
in the nation's history,
in fact, in the world's history.

1545
01:17:44,564 --> 01:17:47,761
The FBl says that 80%

1546
01:17:47,801 --> 01:17:49,792
of the mortgage
fraud losses

1547
01:17:49,836 --> 01:17:52,669
are induced
by lender personnel.

1548
01:17:52,706 --> 01:17:54,003
Meaning what?

1549
01:17:54,041 --> 01:17:56,475
Meaning not the borrower

1550
01:17:56,510 --> 01:17:59,638
coming off the street trying
to defraud the savings and loan.

1551
01:17:59,680 --> 01:18:03,548
These are frauds led by whoever
controls the organization.

1552
01:18:03,583 --> 01:18:06,245
- Right.
- It's typically the CEO in other words.

1553
01:18:06,286 --> 01:18:09,312
So did these CEOs
think they were gonna get away with it?

1554
01:18:09,356 --> 01:18:11,517
They have gotten
away with it.

1555
01:18:13,226 --> 01:18:15,319
Moore:
Yes, apparently they did.

1556
01:18:15,362 --> 01:18:18,126
And with the presidential
election just around the corner...

1557
01:18:18,165 --> 01:18:21,430
- Define rich.
- 5 million.

1558
01:18:21,468 --> 01:18:25,268
...the elites were worried that their crime
spree might come to an end.

1559
01:18:25,305 --> 01:18:28,468
After bilking trillions
from the American public

1560
01:18:28,508 --> 01:18:30,135
by repossessing their homes,

1561
01:18:30,177 --> 01:18:32,441
bankrupting them
when they got sick

1562
01:18:32,479 --> 01:18:34,743
and convincing them
to invest their earnings

1563
01:18:34,781 --> 01:18:38,080
and pensions in the casino
known as the stock market,

1564
01:18:38,118 --> 01:18:41,519
the rich decided to make
one last heist

1565
01:18:41,555 --> 01:18:44,922
and as their 30-year long
party came to an end,

1566
01:18:44,958 --> 01:18:48,450
take as much of the silverware
with them as they could.

1567
01:18:48,495 --> 01:18:51,328
But first they needed
a distraction.

1568
01:18:51,364 --> 01:18:54,629
And as they learned
after 9/11,

1569
01:18:54,668 --> 01:18:57,432
nothing works better
in the home of the brave

1570
01:18:57,471 --> 01:19:00,463
than some good old
fashioned fear.

1571
01:19:00,507 --> 01:19:04,341
And who better to wheel out
for one last scary performance

1572
01:19:04,377 --> 01:19:07,312
than Chicken Little himself?

1573
01:19:07,347 --> 01:19:10,839
Oscar voters,
for your consideration.

1574
01:19:10,884 --> 01:19:12,545
Good evening.

1575
01:19:12,586 --> 01:19:15,111
This is an extraordinary period
for America's economy.

1576
01:19:15,155 --> 01:19:17,783
The government's
top economic experts

1577
01:19:17,824 --> 01:19:20,088
warn that without immediate
action by Congress,

1578
01:19:20,127 --> 01:19:23,119
America could slip into
a financial panic

1579
01:19:23,163 --> 01:19:26,257
and a distressing scenario
would unfold.

1580
01:19:26,299 --> 01:19:29,700
More banks could fail,
including some in your community.

1581
01:19:29,736 --> 01:19:32,227
- ( thunder rumbling )
- The stock market would drop even more,

1582
01:19:32,272 --> 01:19:34,638
which would reduce the value
of your retirement account.

1583
01:19:34,674 --> 01:19:37,336
The value of your home
could plummet.

1584
01:19:37,377 --> 01:19:39,868
Foreclosures would
rise dramatically.

1585
01:19:39,913 --> 01:19:42,143
And if you own
a business or a farm,

1586
01:19:42,182 --> 01:19:44,810
you would find it harder
and more expensive to get credit.

1587
01:19:44,851 --> 01:19:47,513
More businesses
would close their doors

1588
01:19:47,554 --> 01:19:50,114
and millions of Americans
could lose their jobs.

1589
01:19:50,157 --> 01:19:52,955
- ( screams )
- Even if you have good credit history,

1590
01:19:52,993 --> 01:19:55,894
it would be more difficult for
you to get the loans you need

1591
01:19:55,929 --> 01:19:58,227
to buy a car or send
your children to college.

1592
01:19:58,265 --> 01:20:00,699
And ultimately our country
could experience

1593
01:20:00,734 --> 01:20:03,498
- a long and painful recession.
- ( people screaming )

1594
01:20:03,537 --> 01:20:07,667
Fellow citizens,
we must not let this happen.

1595
01:20:07,707 --> 01:20:11,302
Moore: In reality there was no
need for this speech,

1596
01:20:11,344 --> 01:20:13,437
because the mainstream media

1597
01:20:13,480 --> 01:20:15,749
had already drunk
the Kool-Aid.

1598
01:20:17,117 --> 01:20:19,415
Meltdown.
The American financial system

1599
01:20:19,452 --> 01:20:21,010
is rocked to its foundation.

1600
01:20:21,054 --> 01:20:23,386
The giant bank crumbles,
stocks plummet.

1601
01:20:23,423 --> 01:20:26,790
- Nightmare on Wall Street.
- AlG fights for its life.

1602
01:20:26,827 --> 01:20:28,761
- Blood on the floor.
- Armageddon.

1603
01:20:28,795 --> 01:20:31,923
A category-five test
of our financial levies.

1604
01:20:31,965 --> 01:20:35,423
What the fuck happened?

1605
01:20:35,468 --> 01:20:37,800
Have you ever seen
a dam fail?

1606
01:20:37,838 --> 01:20:41,239
It starts with a little crack,
a little seepage.

1607
01:20:41,274 --> 01:20:42,764
Reporter:
With overwhelming support,

1608
01:20:42,809 --> 01:20:44,743
Congress struck down
the restrictions.

1609
01:20:44,778 --> 01:20:46,712
Big banking
is barreling back.

1610
01:20:46,746 --> 01:20:48,771
Black:
And it starts eroding

1611
01:20:48,815 --> 01:20:52,546
and it destroys all
the internal strength of the dam.

1612
01:20:52,586 --> 01:20:54,247
Reporter:
Poison from the housing mess

1613
01:20:54,287 --> 01:20:56,778
seeped deeper and deeper
into the banking system.

1614
01:20:56,823 --> 01:20:58,916
Black:
And soon the dam works against itself.

1615
01:20:58,959 --> 01:21:00,950
The weight of the dam
and the weight of the water

1616
01:21:00,994 --> 01:21:02,359
conspire against it.

1617
01:21:02,395 --> 01:21:04,124
Reporter:
lnvestors were dumping Bear shares

1618
01:21:04,164 --> 01:21:05,654
Ieading a huge selloff...

1619
01:21:05,699 --> 01:21:07,758
Reporter #2:
The stocks of Fannie Mae and Freddie Mac

1620
01:21:07,801 --> 01:21:09,598
were in freefall
this morning...

1621
01:21:09,636 --> 01:21:12,503
Black:
Then there's kind of a significant flow.

1622
01:21:12,539 --> 01:21:15,975
Reporter: Wall Street's losing
streak stretched into its seventh day.

1623
01:21:16,009 --> 01:21:20,036
Black: And then suddenly you've
got 60-70 foot sections.

1624
01:21:20,080 --> 01:21:21,240
A dam exploding.

1625
01:21:21,281 --> 01:21:23,010
Reporter:
Lehman Brothers, bankrupt.

1626
01:21:23,049 --> 01:21:24,846
Merrill Lynch,
sold in haste.

1627
01:21:24,885 --> 01:21:26,819
- Now AlG.
- Black: Just crashing.

1628
01:21:26,853 --> 01:21:28,616
Reporter:
The market's year long slide

1629
01:21:28,655 --> 01:21:31,283
has brought down
some of the biggest blue chips.

1630
01:21:31,324 --> 01:21:33,121
Black:
The water starts rushing through.

1631
01:21:33,159 --> 01:21:35,753
Reporter: This morning,
Washington Mutual has gone under,

1632
01:21:35,795 --> 01:21:38,263
the largest failure
in US banking history.

1633
01:21:38,298 --> 01:21:40,095
Reporter #2:
Stocks fell off a cliff.

1634
01:21:40,133 --> 01:21:43,125
The largest single point drop in history.

1635
01:21:45,805 --> 01:21:49,263
Black:
It destroys the rest of the dam.

1636
01:21:49,309 --> 01:21:51,106
Andthe whole failure

1637
01:21:51,144 --> 01:21:53,635
Iooks like it only takes
two minutes.

1638
01:21:53,680 --> 01:21:57,013
But of course,
it's that little hole

1639
01:21:57,050 --> 01:21:59,951
that's been there
for several years

1640
01:21:59,986 --> 01:22:02,546
that really destroyed it.

1641
01:22:02,589 --> 01:22:06,184
You have this fundamentally
unsound system

1642
01:22:06,226 --> 01:22:09,389
built on
a foundation of sand

1643
01:22:09,429 --> 01:22:11,556
instead of bedrock.

1644
01:22:11,598 --> 01:22:13,930
And it was rotted
from the core.

1645
01:22:15,468 --> 01:22:18,801
It seems like capitalism
is just collapsing on itself.

1646
01:22:18,838 --> 01:22:20,567
Who got rich here?

1647
01:22:20,607 --> 01:22:22,939
Lots of people got rich
during this time,

1648
01:22:22,976 --> 01:22:27,572
primarily the officers
and directors

1649
01:22:27,614 --> 01:22:30,208
of the large banks
and savings and loans

1650
01:22:30,250 --> 01:22:32,741
and the specialty
non-prime lenders.

1651
01:22:32,786 --> 01:22:36,222
These people became
unbelievably rich.

1652
01:22:36,256 --> 01:22:39,555
And  members of Congress got rich,

1653
01:22:39,592 --> 01:22:41,389
especially once
they left Congress.

1654
01:22:41,428 --> 01:22:44,556
A number of them go and work
in the financial institutions.

1655
01:22:44,597 --> 01:22:47,191
Sure, and as do
Rubin and Summers.

1656
01:22:47,233 --> 01:22:50,828
Moore:
Robert Rubin, a one-time top executive

1657
01:22:50,870 --> 01:22:53,930
at both Citigroup
and Goldman Sachs

1658
01:22:53,974 --> 01:22:55,771
champion a change in the law

1659
01:22:55,809 --> 01:22:58,243
that allowed commercial banks
to get into new areas

1660
01:22:58,278 --> 01:23:02,044
Iike investment banking
and exotic insurance products.

1661
01:23:03,850 --> 01:23:05,977
This made it legal
to let Citicorp

1662
01:23:06,019 --> 01:23:07,782
merge with Travelers Group,

1663
01:23:07,821 --> 01:23:10,847
a deal valued
at $70 billion,

1664
01:23:10,890 --> 01:23:13,222
creating the world's
largest bank.

1665
01:23:13,259 --> 01:23:16,126
After leaving
the Clinton administration,

1666
01:23:16,162 --> 01:23:17,959
Rubin worked for Citigroup,

1667
01:23:17,998 --> 01:23:22,560
earning more than
$115 million.

1668
01:23:22,602 --> 01:23:24,593
Summers made
his money where?

1669
01:23:24,637 --> 01:23:28,403
Summers made his money
as a supposed consultant

1670
01:23:28,441 --> 01:23:31,433
and in giving speeches

1671
01:23:31,478 --> 01:23:33,810
at apparently, in some cases,

1672
01:23:33,847 --> 01:23:36,975
over $100,000 a pop.

1673
01:23:37,017 --> 01:23:40,680
Moore: Summers also made $5.2 million
at his part-time job,

1674
01:23:40,720 --> 01:23:43,951
advising a hedge fund.

1675
01:23:43,990 --> 01:23:45,582
Where did Geithner work?

1676
01:23:45,625 --> 01:23:48,458
Geithner has been a failure

1677
01:23:48,495 --> 01:23:50,759
at pretty much everything
he's done in life.

1678
01:23:50,797 --> 01:23:55,393
Most of the institutions
that destroyed the economy

1679
01:23:55,435 --> 01:23:58,836
were under his direct
regulatory authority.

1680
01:23:58,872 --> 01:24:01,170
How did he get the job
as Treasury Secretary?

1681
01:24:01,207 --> 01:24:04,199
By completely
screwing up his job

1682
01:24:04,244 --> 01:24:07,304
as President of the Federal
Reserve Bank of New York.

1683
01:24:07,347 --> 01:24:09,076
That makes no sense.

1684
01:24:09,115 --> 01:24:10,742
Of course, it makes
perfect sense.

1685
01:24:10,784 --> 01:24:12,911
This is not
new to Washington.

1686
01:24:12,952 --> 01:24:15,420
People who will give you
the wrong answer

1687
01:24:15,455 --> 01:24:18,788
but the answer you want
are invaluable.

1688
01:24:18,825 --> 01:24:21,157
And they often get promoted

1689
01:24:21,194 --> 01:24:24,163
precisely because
they're willing to say

1690
01:24:24,197 --> 01:24:26,665
and do absurd things.

1691
01:24:26,699 --> 01:24:30,533
These are the people
that promised us

1692
01:24:30,570 --> 01:24:34,529
that financial deregulation
would make all of us rich.

1693
01:24:34,574 --> 01:24:38,044
And these are the people who
were personally made rich.

1694
01:24:41,181 --> 01:24:45,277
Moore: It was not surprising that
the rich wanted to get richer.

1695
01:24:45,318 --> 01:24:49,084
But now they had come up with
a new and brazen way to do it.

1696
01:24:49,122 --> 01:24:53,024
Just back a big truck up
to the Department of Treasury

1697
01:24:53,059 --> 01:24:56,551
and take $700 billion
of our tax money,

1698
01:24:56,596 --> 01:24:58,587
no questions asked.

1699
01:24:58,631 --> 01:25:02,397
I got Michael Moore here. You know who
Michael Moore is, don't you?

1700
01:25:02,435 --> 01:25:05,302
The film director.
He's filming me right now.

1701
01:25:05,338 --> 01:25:06,896
- I got my wife on the line.
- Oh, hi.

1702
01:25:06,940 --> 01:25:08,703
How are you doing?
Baron Hill from lndiana.

1703
01:25:08,741 --> 01:25:10,208
How are you, sir?
Good state.

1704
01:25:10,243 --> 01:25:12,074
- We're from Michigan you know?
- Yeah.

1705
01:25:12,112 --> 01:25:13,704
How did this
collapse happen?

1706
01:25:13,746 --> 01:25:17,978
I got home on a Friday, everything
was just fine in terms of the economy.

1707
01:25:18,017 --> 01:25:20,747
I call back after my plane
landed in lndiana

1708
01:25:20,787 --> 01:25:23,119
just to check in
with my office,

1709
01:25:23,156 --> 01:25:24,987
and all of a sudden we've
got this crisis on our hands

1710
01:25:25,024 --> 01:25:27,083
and that I'm gonna have to vote
when I come back Monday

1711
01:25:27,127 --> 01:25:30,585
for a multibillion-dollar bailout
of the financial industry.

1712
01:25:30,630 --> 01:25:34,566
The word that we got
was that if we did not act immediately

1713
01:25:34,601 --> 01:25:39,402
the economy would collapse,
no doubt about it.

1714
01:25:39,439 --> 01:25:42,772
I felt that
the announcement

1715
01:25:42,809 --> 01:25:45,175
of this crisis in September,

1716
01:25:45,211 --> 01:25:47,076
just a few weeks
before election,

1717
01:25:47,113 --> 01:25:48,410
was very suspicious.

1718
01:25:48,448 --> 01:25:51,474
This is when Congress
is the most nervous.

1719
01:25:51,518 --> 01:25:53,884
And I thought, "Wait a minute.
What's going on here?

1720
01:25:53,920 --> 01:25:56,354
This is not normal."

1721
01:25:56,389 --> 01:25:58,254
Moore:
The leadership of Congress

1722
01:25:58,291 --> 01:25:59,883
and the Bush administration

1723
01:25:59,926 --> 01:26:02,258
quickly held a series
of private meetings

1724
01:26:02,295 --> 01:26:05,196
with the titans
of Wall Street to figure out

1725
01:26:05,231 --> 01:26:07,563
just how much money
was needed to cover

1726
01:26:07,600 --> 01:26:11,161
all the bad bets
investors had made.

1727
01:26:11,204 --> 01:26:15,265
A deal was cut with Treasury
Secretary Henry Paulson,

1728
01:26:15,308 --> 01:26:17,799
the former CEO
of Goldman Sachs,

1729
01:26:17,844 --> 01:26:21,712
whose net worth was estimated
at $700 million

1730
01:26:21,748 --> 01:26:25,582
when he left Goldman
to go and run the Treasury Department.

1731
01:26:25,618 --> 01:26:29,418
I think we saw the best of
the United States of America

1732
01:26:29,455 --> 01:26:32,856
in the Speaker's
office tonight.

1733
01:26:32,892 --> 01:26:35,884
Moore:
The best of America?

1734
01:26:35,929 --> 01:26:39,831
Or did he mean
the best of Goldman Sachs?

1735
01:26:39,866 --> 01:26:41,629
The Treasury Department,

1736
01:26:41,668 --> 01:26:44,000
it's basically an arm
of Wall Street.

1737
01:26:44,037 --> 01:26:47,097
All the people in charge
were from Goldman Sachs.

1738
01:26:47,140 --> 01:26:50,268
We call it Government Goldman
in the modern era.

1739
01:26:50,310 --> 01:26:52,471
Moore:
That's because there were now numerous

1740
01:26:52,512 --> 01:26:56,278
former Goldman executives
inside the Bush Treasury Department,

1741
01:26:56,316 --> 01:26:58,580
as there were under Clinton.

1742
01:26:58,618 --> 01:27:01,519
They worked as powerful
lobbyists from the inside

1743
01:27:01,554 --> 01:27:03,852
to abolish
financial regulations

1744
01:27:03,890 --> 01:27:06,358
while we paid
their salaries.

1745
01:27:06,392 --> 01:27:08,656
Black:
Treasury Secretary Paulson--

1746
01:27:08,695 --> 01:27:10,629
he wasn't just randomly
at Goldman.

1747
01:27:10,663 --> 01:27:14,155
He was the guy at Goldman
who got them big time

1748
01:27:14,200 --> 01:27:17,897
into buying these exotic
housing derivatives.

1749
01:27:17,937 --> 01:27:21,395
So he got Goldman in
a huge amount of trouble.

1750
01:27:21,441 --> 01:27:23,602
Moore:
lnsane housing derivatives

1751
01:27:23,643 --> 01:27:26,635
had now destroyed much
of Goldman's competition.

1752
01:27:26,679 --> 01:27:29,204
And with the Goldman boys
now calling the shots

1753
01:27:29,249 --> 01:27:32,082
inside the government,
they would ensure that Goldman

1754
01:27:32,118 --> 01:27:34,848
would end up as the kings
of Wall Street

1755
01:27:34,887 --> 01:27:36,320
when the dust settled.

1756
01:27:36,356 --> 01:27:38,085
Black:
So the last possible people

1757
01:27:38,124 --> 01:27:40,922
that should be giving advice
to Treasury would be Goldman.

1758
01:27:40,960 --> 01:27:42,484
So naturally Paulson,

1759
01:27:42,528 --> 01:27:45,725
former CEO of Goldman,
puts them on.

1760
01:27:45,765 --> 01:27:48,461
And what advice do they
end up giving?

1761
01:27:48,501 --> 01:27:51,334
Well, to use the taxpayers

1762
01:27:51,371 --> 01:27:53,805
to bail out Goldman

1763
01:27:53,840 --> 01:27:56,707
and other favored financial
institutions.

1764
01:27:56,743 --> 01:27:59,735
Well, Secretary Paulson
has submitted

1765
01:27:59,779 --> 01:28:01,644
a simple proposal
to Congress.

1766
01:28:01,681 --> 01:28:03,876
This is it--
three pages.

1767
01:28:03,916 --> 01:28:06,680
It's about
$1 billion a word.

1768
01:28:06,719 --> 01:28:08,710
And it is quite simple.

1769
01:28:08,755 --> 01:28:11,883
Secretary Paulson gets
the key to the treasury.

1770
01:28:11,924 --> 01:28:15,189
He's gonna start off
by borrowing $700 billion

1771
01:28:15,228 --> 01:28:16,718
in the name
of the American people,

1772
01:28:16,763 --> 01:28:19,994
maybe more later.
And it waives all laws.

1773
01:28:20,033 --> 01:28:22,263
All laws!

1774
01:28:22,302 --> 01:28:25,738
Not even court review.
Pretty simple proposal.

1775
01:28:25,772 --> 01:28:29,333
We are in a real
crisis situation

1776
01:28:29,375 --> 01:28:31,366
that could mushroom

1777
01:28:31,411 --> 01:28:33,777
into something worse
than the Great Depression.

1778
01:28:33,813 --> 01:28:37,408
So I saw fear.
One gentleman started to cry.

1779
01:28:37,450 --> 01:28:40,783
People are telling us
that it's going to be this gigantic calamity.

1780
01:28:40,820 --> 01:28:42,685
And I'm up for election
in two months.

1781
01:28:42,722 --> 01:28:44,485
Eight weeks away
from election,

1782
01:28:44,524 --> 01:28:47,152
I don't want to make a mistake.
What's the right thing to do?

1783
01:28:47,193 --> 01:28:49,354
Heaven help us.

1784
01:28:49,395 --> 01:28:51,386
If we fail to pass this

1785
01:28:51,431 --> 01:28:54,195
I fear the worst
is yet to come.

1786
01:28:54,233 --> 01:28:56,497
And a few members
were even told

1787
01:28:56,536 --> 01:29:00,131
that there would be martial law
in America if we voted no.

1788
01:29:00,173 --> 01:29:02,334
They were ramming this
thing down our throat.

1789
01:29:02,375 --> 01:29:04,400
They wanted us to vote on it
right away

1790
01:29:04,444 --> 01:29:07,106
without any kind of
thoughtful analysis.

1791
01:29:07,146 --> 01:29:09,205
- No real hearings?
- No real hearings.

1792
01:29:09,248 --> 01:29:11,307
And I wasn't aboutto--

1793
01:29:11,351 --> 01:29:14,479
I got cornered into voting

1794
01:29:14,520 --> 01:29:17,182
for the lraq resolution
based upon some lies

1795
01:29:17,223 --> 01:29:19,123
that they made to me and I wasn't going
to go through that again.

1796
01:29:19,158 --> 01:29:22,457
I will not wait on events
while danger is gathering.

1797
01:29:22,495 --> 01:29:25,987
I will not stand by as peril
draws closer and closer.

1798
01:29:26,032 --> 01:29:28,865
Use fear and then you
get done what you want.

1799
01:29:30,903 --> 01:29:33,497
And they created
in this window--

1800
01:29:33,539 --> 01:29:36,269
two months before election--
this pressure cooker.

1801
01:29:36,309 --> 01:29:39,005
People understand that
the House of Representatives

1802
01:29:39,045 --> 01:29:41,673
needs to pass this piece
of legislation.

1803
01:29:41,714 --> 01:29:44,649
Mr. Speaker, my message
to the American people...

1804
01:29:44,684 --> 01:29:47,676
don't let Congress
seal this Wall Street deal.

1805
01:29:47,720 --> 01:29:50,280
These criminals have
so much political power

1806
01:29:50,323 --> 01:29:52,757
they can shut down the normal
legislative process

1807
01:29:52,792 --> 01:29:55,192
of the highest lawmaking
body in this land.

1808
01:29:55,228 --> 01:29:57,162
All the committees
that should be scanning

1809
01:29:57,196 --> 01:30:00,324
every word of what is being
negotiated are benched.

1810
01:30:00,366 --> 01:30:03,096
And that means the American
people are benched too.

1811
01:30:03,136 --> 01:30:05,366
We are constitutionally sworn

1812
01:30:05,405 --> 01:30:07,532
to protect and defend
this republic

1813
01:30:07,573 --> 01:30:10,804
against all enemies
foreign and domestic.

1814
01:30:10,843 --> 01:30:13,641
They say it's gonna be
Y2K all over again.

1815
01:30:13,679 --> 01:30:16,170
This is the same politics
of fear we are hearing

1816
01:30:16,215 --> 01:30:18,706
from the fat-cat financial
bullies from Wall Street.

1817
01:30:18,751 --> 01:30:21,311
Why aren't we asking Wall Street
to clean up its own mess?

1818
01:30:21,354 --> 01:30:24,812
Why aren't we helping
American families faced with bankruptcy?

1819
01:30:24,857 --> 01:30:27,951
Why aren't we reducing debts
from Main Street instead of Wall Street?

1820
01:30:27,994 --> 01:30:29,825
Is this the United States Congress

1821
01:30:29,862 --> 01:30:32,057
or the board of directors
of Goldman Sachs?

1822
01:30:32,098 --> 01:30:34,862
Moore:
The night before the vote

1823
01:30:34,901 --> 01:30:37,768
the American people
in unprecedented numbers

1824
01:30:37,804 --> 01:30:40,830
flooded Capitol Hill
with millions of messages

1825
01:30:40,873 --> 01:30:43,569
demanding that
Congress vote no.

1826
01:30:47,046 --> 01:30:49,947
The bailout package
was defeated today,

1827
01:30:49,982 --> 01:30:52,212
voted down in the House
of Representatives.

1828
01:30:52,251 --> 01:30:53,946
The stock market plunged--

1829
01:30:53,986 --> 01:30:56,648
plunged to the single
greatest point loss

1830
01:30:56,689 --> 01:30:58,987
in the Dow average
in one day ever.

1831
01:30:59,025 --> 01:31:00,617
The question is this:

1832
01:31:00,660 --> 01:31:03,026
is the failure of
the bailout reason enough

1833
01:31:03,062 --> 01:31:06,259
to vote all the incumbents
out of office in five weeks?

1834
01:31:06,299 --> 01:31:08,164
12 votes killed it.

1835
01:31:08,201 --> 01:31:10,396
So did the voices of a lot
of the American people

1836
01:31:10,436 --> 01:31:13,769
who called their representatives
and said no.

1837
01:31:13,806 --> 01:31:16,172
Then Congress voted no.

1838
01:31:16,209 --> 01:31:18,177
Tonight Congress
has left town.

1839
01:31:18,211 --> 01:31:21,078
Moore: It was a rebuke that Congress
and Wall Street

1840
01:31:21,113 --> 01:31:23,911
had rarely,
if ever, experienced.

1841
01:31:23,950 --> 01:31:27,044
It was what the Citibank
memo had warned against:

1842
01:31:27,086 --> 01:31:28,849
That if the peasants
ever chose

1843
01:31:28,888 --> 01:31:31,015
to exercise their
democratic rights,

1844
01:31:31,057 --> 01:31:34,049
the pillaging by the wealthy
would be over.

1845
01:31:34,093 --> 01:31:38,223
So Paulson and company headed
back up to Capitol Hill.

1846
01:31:38,264 --> 01:31:41,563
And faster than you can say
"Check, please,"

1847
01:31:41,601 --> 01:31:45,367
they cut a backroom deal
with the help of the Democrats.

1848
01:31:47,106 --> 01:31:48,596
This issue supersedes
an election.

1849
01:31:48,641 --> 01:31:50,541
We need to get this right.
We need to do it quickly.

1850
01:31:50,576 --> 01:31:52,009
I agree with the secretary.

1851
01:31:52,044 --> 01:31:54,478
It's not gonna openly cost
all these hundreds of billions.

1852
01:31:54,514 --> 01:31:56,482
We will recover most of it,
maybe all of it.

1853
01:31:56,516 --> 01:31:59,610
Kaptur:
The Democrats became

1854
01:31:59,652 --> 01:32:03,179
the delivery man
for a bill

1855
01:32:03,222 --> 01:32:05,554
for the Republican
president.

1856
01:32:05,591 --> 01:32:09,083
The presidents and presidents-
to-be made phone calls

1857
01:32:09,128 --> 01:32:12,256
and members-- I know
at least two members

1858
01:32:12,298 --> 01:32:14,698
who have an interest
in the US Senate,

1859
01:32:14,734 --> 01:32:15,928
and promises were made.

1860
01:32:17,336 --> 01:32:19,531
Moore:
Within days, the Congress

1861
01:32:19,572 --> 01:32:21,563
did an amazing about-face

1862
01:32:21,607 --> 01:32:25,668
and gave the banks the 700-plus
billion they wanted,

1863
01:32:25,711 --> 01:32:27,576
the people be damned.

1864
01:32:27,613 --> 01:32:30,548
On this vote
the yeas are 263,

1865
01:32:30,583 --> 01:32:33,882
the nays are 171.
The motion is adopted.

1866
01:32:33,920 --> 01:32:38,254
It was very carefully planned
to happen when it did,

1867
01:32:38,291 --> 01:32:42,318
to involve the players
that it did.

1868
01:32:42,361 --> 01:32:46,354
The message was carefully handled.

1869
01:32:46,399 --> 01:32:48,424
They had Congress right where
they wanted them.

1870
01:32:48,467 --> 01:32:51,595
You don't think it
was just happenstance?

1871
01:32:51,637 --> 01:32:53,468
No.

1872
01:32:53,506 --> 01:32:57,067
This was almost like
an intelligence operation

1873
01:32:57,109 --> 01:33:00,476
that had to be coordinated
at the highest levels.

1874
01:33:00,513 --> 01:33:03,073
This whole fiasco
shows you

1875
01:33:03,115 --> 01:33:07,814
that there are
some forces--

1876
01:33:07,853 --> 01:33:10,447
That are not democratic.

1877
01:33:10,489 --> 01:33:12,354
Right.
That are in control.

1878
01:33:12,391 --> 01:33:15,155
Big time.

1879
01:33:15,194 --> 01:33:18,254
They did a masterful job.
Very well executed.

1880
01:33:20,967 --> 01:33:22,195
Do you think it's too harsh

1881
01:33:22,234 --> 01:33:25,635
to call what has happened
here a coup d'état?

1882
01:33:25,671 --> 01:33:27,229
A financial coup d'état?

1883
01:33:27,273 --> 01:33:30,401
No, because I think
that's what's happened.

1884
01:33:30,443 --> 01:33:33,708
- A financial coup d'état?
- Yeah.

1885
01:33:35,481 --> 01:33:37,073
I could agree with that.

1886
01:33:38,417 --> 01:33:40,510
I could agree with that
because the people here

1887
01:33:40,553 --> 01:33:42,487
really aren't in charge.

1888
01:33:42,521 --> 01:33:45,012
Wall Street is in charge.

1889
01:33:46,792 --> 01:33:48,817
Where's our money?

1890
01:33:48,861 --> 01:33:51,261
I don't know.

1891
01:33:51,297 --> 01:33:53,629
Reporter:
Citigroup is spending $50 million

1892
01:33:53,666 --> 01:33:55,293
on a luxury corporate jet.

1893
01:33:55,334 --> 01:33:57,894
You don't know?
But you're the person--

1894
01:33:57,937 --> 01:34:00,929
you're in charge of--
they put you in charge to find out.

1895
01:34:00,973 --> 01:34:02,668
Reporter:
Goldman Sachs has set aside

1896
01:34:02,708 --> 01:34:05,074
6.8 billion for bonuses.

1897
01:34:05,111 --> 01:34:08,444
But Treasury followed
a don't-ask-don't-tell policy.

1898
01:34:08,481 --> 01:34:10,711
They didn't ask the banks

1899
01:34:10,750 --> 01:34:12,980
what they were going to do
with the money.

1900
01:34:13,019 --> 01:34:16,614
And not having asked them,
the banks are not required to tell.

1901
01:34:16,656 --> 01:34:19,318
AlG poolside meetings
at a Valley resort...

1902
01:34:19,358 --> 01:34:20,552
Doesn't make any sense.

1903
01:34:20,593 --> 01:34:23,289
We're getting word
that 73 people

1904
01:34:23,329 --> 01:34:26,264
received at least
$1 million apiece.

1905
01:34:26,298 --> 01:34:28,425
Why would the Department
of Treasury

1906
01:34:28,467 --> 01:34:30,628
not require the banks
to tell them

1907
01:34:30,670 --> 01:34:32,262
what they're doing
with our money?

1908
01:34:32,304 --> 01:34:36,001
You're going to have
to ask Secretary Paulson that question.

1909
01:34:36,042 --> 01:34:38,875
Because I've asked
that question

1910
01:34:38,911 --> 01:34:42,142
in my role as head of the Congressional
Oversight Panel,

1911
01:34:42,181 --> 01:34:44,274
and so far I haven't gotten an answer.
Maybe you'll get a better one.

1912
01:34:44,316 --> 01:34:46,511
( phone ringing )

1913
01:34:46,552 --> 01:34:48,520
Woman: Good afternoon.
Hank Paulson's office.

1914
01:34:48,554 --> 01:34:50,078
Yeah, this is Michael Moore.

1915
01:34:50,122 --> 01:34:51,851
I'd like to talk
to Mr. Paulson.

1916
01:34:51,891 --> 01:34:53,950
- I'm sorry. Your name again?
- Michael Moore.

1917
01:34:53,993 --> 01:34:55,551
- Michael Moore?
- Yup.

1918
01:34:55,594 --> 01:34:58,791
- ( hangs up )
- Hello? Hello?

1919
01:34:58,831 --> 01:35:01,629
This is crazy what they're doing
with our money.

1920
01:35:01,667 --> 01:35:04,431
If I could get them
to actually give the money back--

1921
01:35:04,470 --> 01:35:06,205
I'd be in favor of that.

1922
01:35:24,090 --> 01:35:26,524
We're here to get the money
back for the American people.

1923
01:35:26,559 --> 01:35:28,390
I understand, sir,
but you can't come in.

1924
01:35:28,427 --> 01:35:29,860
- Can you just take the bag?
- No.

1925
01:35:29,895 --> 01:35:31,453
- Take it up there?
- Absolutely not.

1926
01:35:31,497 --> 01:35:33,431
Fill it up.
I got more bags.

1927
01:35:33,466 --> 01:35:35,263
10 billion probably
won't fit in here.

1928
01:35:35,301 --> 01:35:36,461
You can't help me
get the money?

1929
01:35:36,502 --> 01:35:37,662
I can't help you
get the money.

1930
01:35:37,703 --> 01:35:39,898
What would happen if I made
a run for it right now?

1931
01:35:42,041 --> 01:35:44,601
Moore:
So I went to another bank.

1932
01:35:45,811 --> 01:35:46,869
We want our money back.

1933
01:35:46,912 --> 01:35:48,470
I went to all the banks.

1934
01:35:48,514 --> 01:35:50,778
- You've seen this guy?
- Yeah.

1935
01:35:50,816 --> 01:35:53,148
Okay, we're here to make
a citizen's arrest, actually.

1936
01:35:53,185 --> 01:35:55,585
Just drop it
from the windows.

1937
01:35:55,621 --> 01:35:58,181
And everywhere I went...

1938
01:35:59,925 --> 01:36:01,222
I got the same reaction.

1939
01:36:01,260 --> 01:36:03,421
We're actually here
to make a citizen's arrest

1940
01:36:03,462 --> 01:36:04,952
of the entire board
of directors

1941
01:36:04,997 --> 01:36:06,123
and the executives here.

1942
01:36:06,165 --> 01:36:07,530
Why don't you speak
to my supervisor?

1943
01:36:07,566 --> 01:36:09,397
- That's him right here.
- Where's he at?

1944
01:36:09,435 --> 01:36:11,232
- In the white shirt? Blue tie?
- Yup.

1945
01:36:11,270 --> 01:36:12,635
- That's him.
- Receding hairline?

1946
01:36:12,671 --> 01:36:16,232
They're using the money
to buy other companies.

1947
01:36:16,275 --> 01:36:18,937
This is our money.

1948
01:36:18,978 --> 01:36:21,003
Oh, this is
a police officer.

1949
01:36:21,046 --> 01:36:23,173
I wanted to make a citizen's
arrest of the CEO.

1950
01:36:23,215 --> 01:36:25,410
- Mr. Blankfein.
- ( chuckles )

1951
01:36:25,451 --> 01:36:28,215
But you're here, so maybe
you could help me.

1952
01:36:28,254 --> 01:36:31,712
- Let's do it outside.
- $170 billion of our taxpayer money.

1953
01:36:31,757 --> 01:36:34,988
- You're not allowed in the building, sir.
- But I'm here to make an arrest.

1954
01:36:35,027 --> 01:36:37,427
- I'm here to make an arrest.
- Make it outside, sir.

1955
01:36:37,463 --> 01:36:38,896
I can't make it outside.
They're upstairs.

1956
01:36:38,931 --> 01:36:40,831
I'll make an arrest, sir.

1957
01:36:40,866 --> 01:36:42,527
You can arrest somebody?

1958
01:36:42,568 --> 01:36:44,365
If you can arrest somebody,
I can arrest somebody.

1959
01:36:44,403 --> 01:36:45,802
Sir, leave the building, sir.

1960
01:36:45,838 --> 01:36:47,203
Who else do you want
to leave the building?

1961
01:36:47,239 --> 01:36:49,036
Your cameraman and your crew.
Come on out, sir.

1962
01:36:49,074 --> 01:36:51,941
They don't speak English.
Donde?

1963
01:36:53,579 --> 01:36:56,241
These guys have broken
so many laws, you know?

1964
01:36:56,282 --> 01:36:59,877
This is money.
It's theft, it's fraud.

1965
01:37:09,395 --> 01:37:11,795
I'm gonna take it back
to the US Treasury

1966
01:37:11,831 --> 01:37:13,628
right in this car.

1967
01:37:13,666 --> 01:37:16,294
It's safe.
You can trust me.

1968
01:37:17,870 --> 01:37:19,572
( grunts )

1969
01:37:19,572 --> 01:37:19,697
( grunts )

1970
01:37:19,738 --> 01:37:23,037
There's just these little hints

1971
01:37:23,075 --> 01:37:27,512
that the unimaginable

1972
01:37:27,546 --> 01:37:32,176
could occur, which is that...

1973
01:37:34,620 --> 01:37:37,714
people in general

1974
01:37:37,756 --> 01:37:40,384
in the United States
could actually

1975
01:37:40,426 --> 01:37:43,827
become angry

1976
01:37:43,863 --> 01:37:45,763
at the wealthy.

1977
01:37:45,798 --> 01:37:49,290
Shame on you!
Shame on you!

1978
01:37:49,335 --> 01:37:51,496
Shawn:
People who became rich in this country

1979
01:37:51,537 --> 01:37:55,633
in the last decades
were not even making

1980
01:37:55,674 --> 01:37:59,508
the things
that everybody loved.

1981
01:37:59,545 --> 01:38:02,946
They were playing games

1982
01:38:02,982 --> 01:38:05,382
that ended up actually
harming everybody.

1983
01:38:05,417 --> 01:38:09,148
( chanting )

1984
01:38:09,188 --> 01:38:13,682
So some kind of disease
has entered into the economy.

1985
01:38:15,294 --> 01:38:18,957
Moore: It was unusual for Americans
to turn against the rich

1986
01:38:18,998 --> 01:38:22,229
because of the carrot that had
always been held out in front of us,

1987
01:38:22,268 --> 01:38:25,465
that we too could be
one of them someday.

1988
01:38:25,504 --> 01:38:28,268
People were starting not to believe that.

1989
01:38:28,307 --> 01:38:31,003
And that frightened the  rich.

1990
01:38:31,043 --> 01:38:35,139
Because off in the distance
they heard something coming

1991
01:38:35,180 --> 01:38:37,842
and it wasn't another dry martini.

1992
01:38:37,883 --> 01:38:40,647
It was the friggin' people.

1993
01:38:42,554 --> 01:38:44,920
We are ready to take this country

1994
01:38:44,957 --> 01:38:47,118
in a fundamentally new direction.

1995
01:38:47,159 --> 01:38:49,753
That's what's happening
in America right now.

1996
01:38:49,795 --> 01:38:53,458
Change is what's happening
in America.

1997
01:38:53,499 --> 01:38:55,160
Moore:
Holy shit.

1998
01:38:55,200 --> 01:38:58,192
This was not
what Wall Street wanted.

1999
01:38:58,237 --> 01:39:00,728
What if he won?

2000
01:39:00,773 --> 01:39:03,606
What would happen
to their way of life?

2001
01:39:05,444 --> 01:39:07,878
So they did what they always do.

2002
01:39:07,913 --> 01:39:10,074
They threw as much money
at him as they could.

2003
01:39:11,784 --> 01:39:15,220
Goldman Sachs became his
number-one private contributor

2004
01:39:15,254 --> 01:39:18,087
with nearly $1 million in contributions.

2005
01:39:19,925 --> 01:39:23,520
But yet they still weren't sure
what he would do.

2006
01:39:23,562 --> 01:39:26,463
How did he really feel about them

2007
01:39:26,498 --> 01:39:28,968
and their way of life?

2008
01:39:28,968 --> 01:39:32,870
My attitude is that if the economy
is good for folks from the bottom up,

2009
01:39:32,905 --> 01:39:34,065
it's gonna be good for everybody.

2010
01:39:37,176 --> 01:39:39,269
Senator Obama is running
to spread the wealth.

2011
01:39:39,311 --> 01:39:41,745
Joe the Plumber said to him

2012
01:39:41,780 --> 01:39:44,374
that plan sounded like socialism.

2013
01:39:44,416 --> 01:39:46,816
( Russian music playing )

2014
01:39:47,987 --> 01:39:49,511
Joe:
I love America.

2015
01:39:49,555 --> 01:39:53,355
I want to make sure it stays a democracy
and not a socialist society.

2016
01:39:56,695 --> 01:40:00,096
I really think he's gonna bring socialism
if he gets half a chance.

2017
01:40:00,132 --> 01:40:02,862
I don't trust Obama at all.

2018
01:40:04,470 --> 01:40:06,438
I left Europe four decades ago

2019
01:40:06,472 --> 01:40:08,736
because socialism has killed
opportunities there.

2020
01:40:08,774 --> 01:40:12,471
"Someone is going to have to
give up a piece of their pie

2021
01:40:12,511 --> 01:40:14,741
so someone else can have more."

2022
01:40:14,780 --> 01:40:16,111
I want all my pie.

2023
01:40:17,583 --> 01:40:20,484
Barack Obama is a socialist,
it's that simple.

2024
01:40:24,323 --> 01:40:27,156
Moore:
The scare campaign wasn't working.

2025
01:40:27,192 --> 01:40:30,821
In fact, the more they called
Obama a socialist,

2026
01:40:30,863 --> 01:40:33,923
the more he went ahead in the polls.

2027
01:40:33,966 --> 01:40:36,662
And by using the word so much,

2028
01:40:36,702 --> 01:40:40,968
it made a new generation curious
about what that was.

2029
01:40:41,006 --> 01:40:43,634
For instance, few of them knew

2030
01:40:43,675 --> 01:40:46,371
there was actually a socialist
in the United States Senate.

2031
01:40:46,412 --> 01:40:49,643
Of course he was from
the gay state of Vermont.

2032
01:40:49,681 --> 01:40:51,046
( moos )

2033
01:40:51,083 --> 01:40:52,778
You say that you're a socialist.
Tell me what that means.

2034
01:40:52,818 --> 01:40:54,683
I'm a democratic socialist,

2035
01:40:54,720 --> 01:40:57,450
which means that the function
of government is to represent

2036
01:40:57,489 --> 01:40:58,922
middle income and working people

2037
01:40:58,957 --> 01:41:01,323
rather than just the wealthy
and the powerful.

2038
01:41:01,360 --> 01:41:03,225
One of the things that we've done here,

2039
01:41:03,262 --> 01:41:06,060
we've become very religious
in worshipping greed.

2040
01:41:06,098 --> 01:41:08,430
We put on the front pages
of the magazines

2041
01:41:08,467 --> 01:41:10,059
guys who have made
billions of dollars.

2042
01:41:10,102 --> 01:41:12,730
We ignore the cops, the firemen,
the teachers, the nurses

2043
01:41:12,771 --> 01:41:15,968
who every day are doing so much
in improving the lives of people.

2044
01:41:16,008 --> 01:41:17,407
We've got to change our value system.

2045
01:41:17,443 --> 01:41:20,207
Moore:
Hmm, that doesn't sound too bad.

2046
01:41:20,245 --> 01:41:24,306
I mean, it sounds like something
maybe we should try.

2047
01:41:24,349 --> 01:41:26,044
Within a few months,

2048
01:41:26,085 --> 01:41:28,144
the Rasmussen poll reported

2049
01:41:28,187 --> 01:41:30,781
that only 37% of young adults

2050
01:41:30,823 --> 01:41:33,621
now favor capitalism over socialism.

2051
01:41:33,659 --> 01:41:36,992
I hope the economy will...

2052
01:41:37,029 --> 01:41:39,259
( people cheering )

2053
01:41:39,298 --> 01:41:42,199
At 11 :00 we project Barack Obama

2054
01:41:42,234 --> 01:41:44,862
President-Elect
of the United States of America.

2055
01:41:44,903 --> 01:41:47,497
( cheering )

2056
01:42:18,570 --> 01:42:21,004
Moore:
Just two years earlier

2057
01:42:21,039 --> 01:42:23,234
had anyone predicted
this moment,

2058
01:42:23,275 --> 01:42:25,835
they would have been
considered crazy.

2059
01:42:27,112 --> 01:42:29,205
But that's how fast
things change.

2060
01:42:31,884 --> 01:42:34,375
It was in an instant

2061
01:42:34,419 --> 01:42:38,048
a farewell to the old America.

2062
01:42:41,059 --> 01:42:44,688
The country
was electrified by his victory.

2063
01:42:44,730 --> 01:42:47,563
And suddenly people
were inspired

2064
01:42:47,599 --> 01:42:50,469
to do things they never
would have done before.

2065
01:42:51,370 --> 01:42:53,099
Like the sheriff in Detroit

2066
01:42:53,138 --> 01:42:55,936
who decided it was time
to break the law

2067
01:42:55,974 --> 01:42:58,067
in order to help the people.

2068
01:42:58,110 --> 01:43:00,135
Warren Evans:
Doesn't it seem kind of strange to you

2069
01:43:00,179 --> 01:43:03,444
they would seek a government bailout?
I thought that's not what they do.

2070
01:43:03,482 --> 01:43:06,576
1-0-1 radio.

2071
01:43:06,618 --> 01:43:10,179
I thought the free market
is you sink or swim.

2072
01:43:10,222 --> 01:43:13,623
I just saw them sink
and cry like babies

2073
01:43:13,659 --> 01:43:16,219
for assistance from everybody else.

2074
01:43:17,396 --> 01:43:21,526
Today I will be stopping
all mortgage foreclosure sales

2075
01:43:21,567 --> 01:43:23,228
in Wayne County.

2076
01:43:23,268 --> 01:43:26,897
I cannot in clear conscience
allow anymore families

2077
01:43:26,939 --> 01:43:29,464
to lose their homes
through foreclosure sales.

2078
01:43:29,508 --> 01:43:32,272
Moore:
What must the banks have thought

2079
01:43:32,311 --> 01:43:35,371
seeing the law that was set up
to protect their interests

2080
01:43:35,414 --> 01:43:37,143
being subverted?

2081
01:43:37,182 --> 01:43:40,174
Do you think the free market
has failed Detroit?

2082
01:43:40,219 --> 01:43:43,450
Well, I mean, I think that the free market
failed the country.

2083
01:43:43,488 --> 01:43:45,757
You know, this is crazy.

2084
01:43:45,757 --> 01:43:47,725
Neighborhoods that are
completely destroyed

2085
01:43:47,759 --> 01:43:50,091
because too many homes
have been foreclosed.

2086
01:43:50,128 --> 01:43:53,188
And then you wonder,
is this really America

2087
01:43:53,232 --> 01:43:55,291
or is this a third-world country?

2088
01:43:55,334 --> 01:43:56,824
Exactly what are we doing here?

2089
01:43:56,868 --> 01:44:00,998
Until things get so bad that people
can do nothing but protest,

2090
01:44:01,039 --> 01:44:03,007
and then those
are called revolutions.

2091
01:44:03,041 --> 01:44:07,034
Moore:
And sometimes revolutions begin

2092
01:44:07,079 --> 01:44:08,307
in unlikely places.

2093
01:44:08,347 --> 01:44:10,212
Wake up.

2094
01:44:10,249 --> 01:44:11,910
Moore:
Living in the back of a truck

2095
01:44:11,950 --> 01:44:16,148
after a bank foreclosed on
the home they had owned for 22 years,

2096
01:44:16,188 --> 01:44:19,589
the Trody family of Miami,
with the help of their neighbors,

2097
01:44:19,625 --> 01:44:22,059
took matters into their own hands.

2098
01:44:22,094 --> 01:44:25,086
On behalf of this family
and this community,

2099
01:44:25,130 --> 01:44:28,566
we liberate this home for this family.

2100
01:44:28,600 --> 01:44:30,500
Cut the sign down.
Take it off.

2101
01:44:30,535 --> 01:44:32,799
- ( applause )
- Yay!

2102
01:44:32,838 --> 01:44:35,568
When I say community,
y'all say power.

2103
01:44:35,607 --> 01:44:36,904
- Community!
- Power!

2104
01:44:36,942 --> 01:44:38,000
- Community!
- Power!

2105
01:44:38,043 --> 01:44:39,340
- Community!
- Power!

2106
01:44:39,378 --> 01:44:40,902
- Community!
- Power!

2107
01:44:40,946 --> 01:44:42,743
- Community!
- Power!

2108
01:44:42,781 --> 01:44:45,147
Moore: It wasn't long
before the guy from the bank

2109
01:44:45,183 --> 01:44:47,378
who had evicted them came back.

2110
01:44:47,419 --> 01:44:49,148
See this?

2111
01:44:49,187 --> 01:44:50,848
I want you to go ahead
and take a picture of that.

2112
01:44:50,889 --> 01:44:53,289
You're trespassing.

2113
01:44:53,325 --> 01:44:55,850
We did an eviction here and the people
went back inside the property.

2114
01:44:55,894 --> 01:44:58,556
Yes.
So I need police assistance.

2115
01:44:58,597 --> 01:45:00,155
When all these houses are empty

2116
01:45:00,198 --> 01:45:02,598
the value of everybody
else's house goes down.

2117
01:45:02,634 --> 01:45:05,728
So if you can keep
these people in this house

2118
01:45:05,771 --> 01:45:08,001
that will help not only them...

2119
01:45:08,040 --> 01:45:11,009
So you see, the situation is that
the people--

2120
01:45:11,043 --> 01:45:13,034
if the bank lets them go back inside,

2121
01:45:13,078 --> 01:45:16,570
then the bank misses the opportunity
to sell the house to somebody else.

2122
01:45:16,615 --> 01:45:19,243
The banks are selling
so many houses right now.

2123
01:45:19,284 --> 01:45:22,776
Well, if the bank lets everybody
get back inside the house for free--

2124
01:45:22,821 --> 01:45:24,755
Then people will have places to live.

2125
01:45:24,790 --> 01:45:27,520
Moore: People fighting back
was an unusual sight.

2126
01:45:27,559 --> 01:45:30,585
So nine police cars
responded to the call.

2127
01:45:30,629 --> 01:45:32,620
Considering the neighborhood,

2128
01:45:32,664 --> 01:45:34,894
the response time
was impressive.

2129
01:45:34,933 --> 01:45:36,833
- You are not in charge.
- I'm not saying I'm in charge.

2130
01:45:36,868 --> 01:45:39,359
I'm saying she doesn't want to be isolated.
You don't have to answer any questions.

2131
01:45:39,404 --> 01:45:41,599
You don't have to say
anything to them, okay?

2132
01:45:41,640 --> 01:45:43,540
Moore:
But the Trodys stood their ground.

2133
01:45:43,575 --> 01:45:46,169
We don't have nowhere else to go.

2134
01:45:46,211 --> 01:45:49,112
- This was the backup plan.
- We're forced to live inside of a truck.

2135
01:45:49,147 --> 01:45:52,116
This was our plan B.
We don't have no plan C.

2136
01:45:52,150 --> 01:45:54,618
That is our grandma and it's not right.

2137
01:45:54,653 --> 01:45:57,144
She's been in this house for 22 years
and y'all gonna put her out?

2138
01:45:57,189 --> 01:45:59,180
How do you feel putting people
out of their homes

2139
01:45:59,224 --> 01:46:01,351
every single frickin' day?

2140
01:46:01,393 --> 01:46:03,793
You should rather be home
instead of do something like that.

2141
01:46:03,829 --> 01:46:07,162
Where is the money the federal
government put in the bank?

2142
01:46:07,199 --> 01:46:11,158
We should be telling you that you're
trespassing because this is our house.

2143
01:46:11,203 --> 01:46:13,728
( crowd yelling )

2144
01:46:17,509 --> 01:46:20,808
Rooted like a tree,
rooted like a tree

2145
01:46:20,846 --> 01:46:23,337
We are here

2146
01:46:23,382 --> 01:46:26,351
Stand up strong...

2147
01:46:26,385 --> 01:46:28,945
Let's go.

2148
01:46:28,987 --> 01:46:31,012
- We did good. We did good.
- All right.

2149
01:46:31,056 --> 01:46:34,355
Moore: The police and the man
from the bank were sent packing.

2150
01:46:34,393 --> 01:46:36,588
Ain't no power
like the power of the people.

2151
01:46:36,628 --> 01:46:38,892
And the power of the people don't stop.
Say what?

2152
01:46:38,930 --> 01:46:41,558
Ain't no power
like the power of the people.

2153
01:46:41,600 --> 01:46:44,160
And the power of the people don't stop.
Say what?

2154
01:46:44,202 --> 01:46:46,864
Don't leave your home.

2155
01:46:46,905 --> 01:46:48,270
Because you know what?

2156
01:46:48,306 --> 01:46:50,570
When those companies say
they have your mortgage,

2157
01:46:50,609 --> 01:46:53,544
unless you have a lawyer
that can put his finger

2158
01:46:53,578 --> 01:46:56,069
or her finger on that mortgage,
you don't have that mortgage.

2159
01:46:56,114 --> 01:47:00,073
And you're gonna find that they can't find
the paper up there on Wall Street.

2160
01:47:00,118 --> 01:47:04,111
So I say to the American people,
you be squatters in your own homes.

2161
01:47:04,156 --> 01:47:06,681
Don't you leave
in Ohio and Michigan,

2162
01:47:06,725 --> 01:47:08,886
in lndiana and lllinois
and all these other places

2163
01:47:08,927 --> 01:47:11,020
where our people are being
treated like chattel.

2164
01:47:11,062 --> 01:47:14,225
Andthis Congress is stymied.

2165
01:47:14,266 --> 01:47:15,563
Moore: Wow.

2166
01:47:15,600 --> 01:47:18,398
It's not every day you get
to see a member of Congress

2167
01:47:18,437 --> 01:47:21,173
encouraging open rebellion.

2168
01:47:21,173 --> 01:47:23,403
Back in Chicago,

2169
01:47:23,442 --> 01:47:25,808
the workers at Republic
Windows & Doors

2170
01:47:25,844 --> 01:47:27,106
had a bright idea.

2171
01:47:28,747 --> 01:47:31,079
They decided
that on second thought,

2172
01:47:31,116 --> 01:47:34,313
it wasn't okay to be fired
without notice,

2173
01:47:34,352 --> 01:47:37,446
to be denied their vacation
and severance pay

2174
01:47:37,489 --> 01:47:40,515
and to have their
medical benefits cut off.

2175
01:47:42,627 --> 01:47:45,323
So they came up with a plan.

2176
01:47:45,363 --> 01:47:48,298
Tell Bank of America
and the owners of the company

2177
01:47:48,333 --> 01:47:50,824
that it was a new day in America.

2178
01:47:50,869 --> 01:47:52,803
They weren't going
to leave the building

2179
01:47:52,838 --> 01:47:56,137
until they were paid
what they were owed.

2180
01:47:56,174 --> 01:48:00,133
Yes, it was a good old fashioned
sit-down strike.

2181
01:48:02,914 --> 01:48:05,212
Man:
We understand that perhaps

2182
01:48:05,250 --> 01:48:08,515
some bad business deals
were made.

2183
01:48:08,553 --> 01:48:11,784
But guess what?
We don't make business deals.

2184
01:48:11,823 --> 01:48:14,087
We make windows and doors.

2185
01:48:14,125 --> 01:48:16,059
Why should we be punished?

2186
01:48:28,607 --> 01:48:30,939
Moore: The union organizers
and the workers

2187
01:48:30,976 --> 01:48:34,673
prepared for a police assault
that was sure to come.

2188
01:48:34,713 --> 01:48:37,341
I'm gonna take the chance.

2189
01:48:37,382 --> 01:48:39,282
You're prepared to be arrested?

2190
01:48:39,317 --> 01:48:41,547
I am prepared to be arrested
if it's necessary.

2191
01:48:41,586 --> 01:48:45,545
We've been here since yesterday
and we aren't going anywhere.

2192
01:48:45,590 --> 01:48:47,421
We are committed to this.

2193
01:48:47,459 --> 01:48:49,791
Moore:
It wasn't long before the media showed up.

2194
01:48:49,828 --> 01:48:52,729
And given the mood of the country
toward the bailout,

2195
01:48:52,764 --> 01:48:56,723
even the TV anchors had run out
of sympathy for the banks.

2196
01:48:56,768 --> 01:49:00,499
In Chicago, a group of factory workers
watched like the rest of us

2197
01:49:00,539 --> 01:49:03,167
as taxpayers bailed out
the financial industry.

2198
01:49:03,208 --> 01:49:06,473
Now these laid-off workers
are demanding Bank of America

2199
01:49:06,511 --> 01:49:09,207
spend some of its
bailout money on them.

2200
01:49:09,247 --> 01:49:11,340
It says "Bank Robbers of America."

2201
01:49:11,383 --> 01:49:14,546
Look, if we the taxpayers
are going to provide

2202
01:49:14,586 --> 01:49:17,578
a bailout for companies
like Bank of America,

2203
01:49:17,622 --> 01:49:20,489
then the least they can do
is use those funds

2204
01:49:20,525 --> 01:49:23,016
on American workers
and companies.

2205
01:49:23,061 --> 01:49:26,189
Woman:
$25 billion to Bank of America.

2206
01:49:26,231 --> 01:49:28,597
How do people sleep at night
when they act like that?

2207
01:49:28,633 --> 01:49:30,225
I don't get it.

2208
01:49:30,268 --> 01:49:32,168
Because what's the point
of bailing them out

2209
01:49:32,203 --> 01:49:34,865
if there aren't any jobs?

2210
01:49:34,906 --> 01:49:37,431
Moore:
The strike went on day after day.

2211
01:49:37,475 --> 01:49:40,239
The police had not yet come.

2212
01:49:40,278 --> 01:49:43,076
But the son of a Chicago
steelworker did.

2213
01:49:43,114 --> 01:49:47,278
He just also happened to be
the bishop in Chicago.

2214
01:49:47,319 --> 01:49:49,310
Ladies and gentlemen,

2215
01:49:49,354 --> 01:49:51,549
I am Bishop James Wilkowski.

2216
01:49:51,590 --> 01:49:54,787
I know that you are all undergoing

2217
01:49:54,826 --> 01:49:56,851
a great trial.

2218
01:49:56,895 --> 01:49:59,625
You are teaching

2219
01:49:59,664 --> 01:50:02,030
to our young people

2220
01:50:02,067 --> 01:50:04,092
that it is just

2221
01:50:04,135 --> 01:50:07,696
to challenge
that which is unfair.

2222
01:50:08,740 --> 01:50:12,836
I grew up on the far southeast
side of Chicago

2223
01:50:12,877 --> 01:50:14,606
and I saw what happened

2224
01:50:14,646 --> 01:50:17,979
when all the steel mills
disappeared.

2225
01:50:18,016 --> 01:50:20,883
And I saw the impact that it had

2226
01:50:20,919 --> 01:50:22,682
on families.

2227
01:50:22,721 --> 01:50:24,621
But this time

2228
01:50:24,656 --> 01:50:26,715
we are with you.

2229
01:50:26,758 --> 01:50:29,693
And we will not abandon you.

2230
01:50:29,728 --> 01:50:31,719
In the name of the Father
and the Son

2231
01:50:31,763 --> 01:50:33,390
and the Holy Spirit.
Amen.

2232
01:50:33,431 --> 01:50:35,399
The body of Christ.

2233
01:50:37,702 --> 01:50:39,329
The body of Christ.

2234
01:50:41,873 --> 01:50:43,397
The body of Christ.

2235
01:50:45,744 --> 01:50:48,542
President Obama:
When it comes to the situation

2236
01:50:48,580 --> 01:50:51,981
here in Chicago
with the workers

2237
01:50:52,017 --> 01:50:55,885
who are asking for the benefits
and payments

2238
01:50:55,920 --> 01:50:58,616
that they have earned,
I think they're absolutely right.

2239
01:50:58,657 --> 01:51:02,184
( cheering )

2240
01:51:02,227 --> 01:51:05,492
What's happening to them
is reflective of what's happening

2241
01:51:05,530 --> 01:51:07,498
across this economy.

2242
01:51:07,532 --> 01:51:10,160
Reporter: He said, "What's happening to
them is reflective of what's happening..."

2243
01:51:10,201 --> 01:51:12,135
Reporter #2: He said what is
happening to those workers

2244
01:51:12,170 --> 01:51:14,764
is reflective to what's happening
across this economy.

2245
01:51:14,806 --> 01:51:17,673
I was watching Obama's press
conference this morning.

2246
01:51:17,709 --> 01:51:20,007
I just got out of bed and decided

2247
01:51:20,045 --> 01:51:22,775
the best thing I could do
was to feed people.

2248
01:51:22,814 --> 01:51:24,304
So I brought some food.

2249
01:51:24,349 --> 01:51:26,647
- I brought some sandwiches.
- Oh, good.

2250
01:51:26,685 --> 01:51:30,485
Moore: In fact, lots of Chicagoans
showed up to support the workers.

2251
01:51:30,522 --> 01:51:32,080
Reporter: The workers have become
a national symbol

2252
01:51:32,123 --> 01:51:34,148
for thousands of employees
laid off across the country.

2253
01:51:34,192 --> 01:51:36,422
Reporter #2: The sit-in has grabbed
the attention of politicians

2254
01:51:36,461 --> 01:51:40,090
who believe it exemplifies an imbalance
between a Wall Street

2255
01:51:40,131 --> 01:51:43,931
that gets government help
and a Main Street that gets the shaft.

2256
01:51:43,968 --> 01:51:45,959
Moore:
The question started to be asked:

2257
01:51:46,004 --> 01:51:48,472
Was this is the beginnings of a worker's
revolt against Wall Street?

2258
01:51:51,076 --> 01:51:53,203
The people united.

2259
01:51:53,244 --> 01:51:55,303
We'll never be defeated.

2260
01:51:55,346 --> 01:51:59,180
Bail out workers, not the banks.
Bail out workers, not the banks.

2261
01:51:59,217 --> 01:52:03,551
Moore: Pledges of financial support
and food showed up by the truckload.

2262
01:52:03,588 --> 01:52:06,955
Woman: It's really beyond
what we had at first initially imagined.

2263
01:52:06,991 --> 01:52:09,789
And so  now we're dreaming a  little  bit

2264
01:52:09,828 --> 01:52:12,820
We even had a conversation--
well, what if we just tried

2265
01:52:12,864 --> 01:52:14,593
to run the factory like a cooperative?

2266
01:52:14,632 --> 01:52:16,657
We don't have any money.
We're not capitalists.

2267
01:52:16,701 --> 01:52:19,795
We're having those kind
of conversations

2268
01:52:19,838 --> 01:52:22,568
and the workers are thinking about it
and it's a difficult thing

2269
01:52:22,607 --> 01:52:24,871
'cause, you know, if you've been
told your whole life

2270
01:52:24,909 --> 01:52:28,208
that things are the way
other people tell you they are,

2271
01:52:28,246 --> 01:52:30,237
to be able to think
I can make it different

2272
01:52:30,281 --> 01:52:33,375
is quite a big deal.

2273
01:52:35,587 --> 01:52:38,249
We're all over the national news.
Everyone is watching you

2274
01:52:38,289 --> 01:52:41,622
because they're so inspired by you.
( speaks Spanish )

2275
01:52:44,295 --> 01:52:46,126
Moore:
After six days of the sit-in

2276
01:52:46,164 --> 01:52:49,395
Bank of America decided
enough was enough.

2277
01:52:49,434 --> 01:52:51,629
Better to pay off
these workers now

2278
01:52:51,669 --> 01:52:55,036
and hope their little
revolution goes away.

2279
01:52:55,073 --> 01:52:58,804
And so the bank and the company
agreed to all the worker's demands.

2280
01:52:58,843 --> 01:53:01,744
Yes we did!
Yes we did!

2281
01:53:01,780 --> 01:53:05,443
The average package for each worker

2282
01:53:05,483 --> 01:53:09,351
will be very close to $6,000.

2283
01:53:09,387 --> 01:53:12,618
But this is about more
than just money.

2284
01:53:12,657 --> 01:53:16,115
It's about what can be achieved

2285
01:53:16,161 --> 01:53:20,154
when workers organize
and stand up for justice.

2286
01:53:20,198 --> 01:53:22,257
Just to fight--
fight fight fight fight fight

2287
01:53:22,300 --> 01:53:24,666
just to get the most basic thing

2288
01:53:24,702 --> 01:53:26,465
that people should take for granted

2289
01:53:26,504 --> 01:53:30,304
and that's legally theirs.

2290
01:53:30,341 --> 01:53:34,345
We just fight so hard just for
the most basic things in life.

2291
01:53:36,648 --> 01:53:39,776
Moore: It's a fight we knew
all too well in Flint, Michigan.

2292
01:53:39,818 --> 01:53:43,185
For it was here that my uncle
and his fellow workers

2293
01:53:43,221 --> 01:53:45,951
first brought down the mighty
corporate interests

2294
01:53:45,990 --> 01:53:47,651
that dominated their lives.

2295
01:53:49,894 --> 01:53:53,295
It was the day before
New Year's Eve in 1936.

2296
01:53:53,331 --> 01:53:56,767
Hundreds of men and women
took over the GM factories in Flint

2297
01:53:56,801 --> 01:53:59,133
and occupied them for 44 days.

2298
01:54:01,005 --> 01:54:04,372
They were the first union that beat
an industrial corporation.

2299
01:54:04,409 --> 01:54:06,707
And their actions eventually resulted

2300
01:54:06,744 --> 01:54:09,212
in the creation of a middle class.

2301
01:54:09,247 --> 01:54:12,375
But back in these days of the Flint
sit-down strike,

2302
01:54:12,417 --> 01:54:16,751
the police and the company thugs
were not going to just stand by.

2303
01:54:16,788 --> 01:54:20,383
After a bloody battle one evening,
the Governor of Michigan,

2304
01:54:20,425 --> 01:54:23,588
with the support of the President
of the United States

2305
01:54:23,628 --> 01:54:27,428
Franklin Roosevelt,
sent in the National Guard.

2306
01:54:27,465 --> 01:54:31,492
But the guns of the soldiers
weren't used on the workers.

2307
01:54:31,536 --> 01:54:33,197
They were pointed at the police

2308
01:54:33,238 --> 01:54:35,206
and the hired goons,

2309
01:54:35,240 --> 01:54:38,767
warning them to leave
these workers alone.

2310
01:54:39,911 --> 01:54:42,744
For Mr. Roosevelt believed
that the men inside

2311
01:54:42,780 --> 01:54:46,944
had a right to a redress
of their grievances.

2312
01:54:48,286 --> 01:54:51,517
Seven years later,
President Roosevelt was too sick

2313
01:54:51,556 --> 01:54:55,390
to go up to the Capitol and give his
annual State of the Union Address.

2314
01:54:55,426 --> 01:54:57,257
Ladies and gentlemen,

2315
01:54:57,295 --> 01:55:00,162
the President of the United States.

2316
01:55:00,198 --> 01:55:04,726
It has been my custom to deliver
these annual messages in person.

2317
01:55:04,769 --> 01:55:07,795
Moore: So he gave it from
the White House over the radio.

2318
01:55:07,839 --> 01:55:10,899
When it was over he asked
the newsreel cameras

2319
01:55:10,942 --> 01:55:14,002
to step into his room because he
wanted the American people

2320
01:55:14,045 --> 01:55:17,674
to see one particular part
of his speech.

2321
01:55:17,715 --> 01:55:21,344
The President of the United States
then took the radical step

2322
01:55:21,386 --> 01:55:24,082
of proposing a second Bill of Rights

2323
01:55:24,122 --> 01:55:25,521
to the Constitution.

2324
01:55:25,556 --> 01:55:29,185
In our day certain economic truths

2325
01:55:29,227 --> 01:55:32,424
have become accepted
as self-evident.

2326
01:55:32,463 --> 01:55:35,023
A second  Bill  of Rights

2327
01:55:35,066 --> 01:55:38,832
under which a new basis of security
and prosperity

2328
01:55:38,870 --> 01:55:41,134
can be established for all

2329
01:55:41,172 --> 01:55:44,869
regardless of station
or race or creed.

2330
01:55:44,909 --> 01:55:47,707
Among these are:

2331
01:55:47,745 --> 01:55:51,704
The right to a useful
and remunerative job;

2332
01:55:51,749 --> 01:55:55,207
The right to earn enough to provide
adequate food

2333
01:55:55,253 --> 01:55:56,811
and clothing and recreation;

2334
01:55:56,854 --> 01:55:59,379
The right of every farmer

2335
01:55:59,424 --> 01:56:01,858
to raise and sell his products

2336
01:56:01,893 --> 01:56:05,021
at a return which will
give him and his family

2337
01:56:05,063 --> 01:56:07,429
a decent living;

2338
01:56:07,465 --> 01:56:11,401
The right of every businessman
large and small

2339
01:56:11,436 --> 01:56:14,803
to trade in an atmosphere of freedom,

2340
01:56:14,839 --> 01:56:18,536
freedom from unfair competition
and domination

2341
01:56:18,576 --> 01:56:21,704
by monopolies at home or abroad;

2342
01:56:21,746 --> 01:56:25,204
The right of every family
to a decent home;

2343
01:56:25,249 --> 01:56:28,878
The right to adequate medical care

2344
01:56:28,920 --> 01:56:32,822
and the opportunity to achieve
and enjoy good health;

2345
01:56:32,857 --> 01:56:36,190
The right to adequate protection

2346
01:56:36,227 --> 01:56:39,628
from the economic fears
of old age,

2347
01:56:39,664 --> 01:56:42,155
sickness, accidents

2348
01:56:42,200 --> 01:56:44,031
and unemployment;

2349
01:56:44,068 --> 01:56:47,128
The right to a good education.

2350
01:56:47,171 --> 01:56:51,574
All  of these  rights spell  security..

2351
01:56:51,609 --> 01:56:54,635
And  afterthis waris won,

2352
01:56:54,679 --> 01:56:58,046
we must be prepared
to move forward

2353
01:56:58,082 --> 01:57:01,176
in the implementation
of these rights

2354
01:57:01,219 --> 01:57:04,985
to new goals of human happiness
and wellbeing.

2355
01:57:05,023 --> 01:57:09,517
For unless there is security
here at home,

2356
01:57:09,560 --> 01:57:14,395
there cannot be lasting peace
in the world.

2357
01:57:23,841 --> 01:57:27,140
Moore: Roosevelt would be dead
in little over a year.

2358
01:57:29,947 --> 01:57:33,280
He would not live to see
the end of the war.

2359
01:57:33,317 --> 01:57:37,151
Nor would there be any enactment
of his new Bill of Rights.

2360
01:57:44,629 --> 01:57:47,621
Had he lived and succeeded,

2361
01:57:47,665 --> 01:57:49,997
every American,
regardless of race,

2362
01:57:50,034 --> 01:57:53,162
would have had a right
to a decent job...

2363
01:57:56,107 --> 01:57:57,699
a livable wage...

2364
01:58:00,278 --> 01:58:01,677
universal health care...

2365
01:58:03,714 --> 01:58:05,443
a good education...

2366
01:58:07,885 --> 01:58:10,046
an affordable home...

2367
01:58:12,190 --> 01:58:14,454
a paid vacation...

2368
01:58:18,262 --> 01:58:20,890
and an adequate pension.

2369
01:58:23,734 --> 01:58:26,328
None of this would come to pass.

2370
01:58:28,406 --> 01:58:32,740
No American would be
guaranteed any of this.

2371
01:58:36,347 --> 01:58:38,975
But the people of Europe and Japan

2372
01:58:39,016 --> 01:58:41,712
got every one of these rights.

2373
01:58:41,752 --> 01:58:44,414
How did that happen?

2374
01:58:44,455 --> 01:58:49,188
After the war, the people
of RooseveIt's administration

2375
01:58:49,227 --> 01:58:52,196
went overseas
to help rebuild Europe.

2376
01:58:52,230 --> 01:58:56,223
During this time new constitutions
were written

2377
01:58:56,267 --> 01:59:00,727
for the defeated nations
of Germany, ltaly and Japan.

2378
01:59:00,771 --> 01:59:03,467
The ltalian constitution

2379
01:59:03,508 --> 01:59:06,477
guaranteed all women equal rights.

2380
01:59:06,511 --> 01:59:09,309
And thiswas 1947.

2381
01:59:09,347 --> 01:59:13,511
The German constitution
said that the state has the right

2382
01:59:13,551 --> 01:59:16,987
to take over property
and the means of production

2383
01:59:17,021 --> 01:59:18,921
for the common good.

2384
01:59:18,956 --> 01:59:22,016
And here's what we wrote up
for the Japanese.

2385
01:59:22,059 --> 01:59:25,460
All workers have a right
to organize into a union.

2386
01:59:25,496 --> 01:59:29,330
And academic freedom
is guaranteed.

2387
01:59:29,367 --> 01:59:32,234
For the next 65 years

2388
01:59:32,270 --> 01:59:34,329
we would not become the country

2389
01:59:34,372 --> 01:59:36,272
that Roosevelt wanted us to be.

2390
01:59:37,441 --> 01:59:41,104
Instead, we became this...

2391
01:59:48,686 --> 01:59:51,382
I remember thinking
during the Katrina flood,

2392
01:59:51,422 --> 01:59:53,356
"Why is it always the poor

2393
01:59:53,391 --> 01:59:55,222
who have to suffer the misery?

2394
01:59:55,259 --> 01:59:57,693
Why isn't it ever Bernie Madoff
up on the roof

2395
01:59:57,728 --> 01:59:59,423
screaming for help?

2396
01:59:59,463 --> 02:00:01,226
Or the head of Citibank

2397
02:00:01,265 --> 02:00:04,757
or the hedge fund guys
at Goldman Sachs?

2398
02:00:04,802 --> 02:00:07,896
Or the CEO at AlG?"

2399
02:00:07,939 --> 02:00:10,169
It never is these guys, is it?

2400
02:00:10,208 --> 02:00:13,939
It's always those who
never got a slice of the pie

2401
02:00:13,978 --> 02:00:16,276
because these men
took it all

2402
02:00:16,314 --> 02:00:18,544
and left them with nothing,

2403
02:00:18,583 --> 02:00:20,346
Ieft them to die.

2404
02:00:22,887 --> 02:00:25,685
I refuse to live in a country like this.

2405
02:00:25,723 --> 02:00:27,816
And I'm no  leaving.

2406
02:00:41,739 --> 02:00:45,072
We live in the richest
country in the world.

2407
02:00:45,109 --> 02:00:48,704
We all deserve a decent job,

2408
02:00:48,746 --> 02:00:52,512
healthcare, a good education,

2409
02:00:52,550 --> 02:00:55,781
a home to call our own.

2410
02:00:55,820 --> 02:00:58,345
We all deserve FDR's dream.

2411
02:00:59,991 --> 02:01:02,255
And it'sa crimethat we don't have  it.

2412
02:01:03,527 --> 02:01:05,154
And we never will,

2413
02:01:05,196 --> 02:01:08,654
as long as we have a system
that enriches the few

2414
02:01:08,699 --> 02:01:11,099
at the expense of the many.

2415
02:01:12,770 --> 02:01:15,330
Capitalism is an evil.

2416
02:01:15,373 --> 02:01:17,432
And you cannot regulate evil.

2417
02:01:19,543 --> 02:01:23,343
You have to eliminate it
and replace it with something

2418
02:01:23,381 --> 02:01:26,407
that is good for all people.

2419
02:01:26,450 --> 02:01:30,409
And that something
is called democracy.

2420
02:01:43,367 --> 02:01:45,892
Crimes have been committed
in this building.

2421
02:01:45,936 --> 02:01:48,700
I am here to make a citizen's arrest.

2422
02:01:48,739 --> 02:01:52,231
Please come down
and step away from the building.

2423
02:01:52,276 --> 02:01:54,471
Do not be afraid.

2424
02:01:54,512 --> 02:01:57,447
Federal prison is a nice place.

2425
02:02:01,519 --> 02:02:04,488
You know,
I can't really do this anymore

2426
02:02:04,522 --> 02:02:07,514
unless those of you who
are watching this in the theater

2427
02:02:07,558 --> 02:02:09,617
want to join me.

2428
02:02:09,660 --> 02:02:11,685
I hope you will.

2429
02:02:11,729 --> 02:02:14,459
And please, speed it up.

2430
02:02:16,267 --> 02:02:20,203
Arise ye workers
from your slumber

2431
02:02:20,237 --> 02:02:23,638
Arise ye prisoners of want,
that's right

2432
02:02:23,674 --> 02:02:27,804
For reason in revolt
now thunders

2433
02:02:27,845 --> 02:02:30,746
Chains of hatred, greed
and fear

2434
02:02:30,781 --> 02:02:35,241
Away with all
your superstitions

2435
02:02:35,286 --> 02:02:39,279
Servile masses arise, arise

2436
02:02:39,323 --> 02:02:43,089
We'll change henceforth
the old tradition

2437
02:02:43,127 --> 02:02:46,619
And spurn the dust
to win the prize

2438
02:02:46,664 --> 02:02:50,498
So comrades, come on and rally

2439
02:02:50,534 --> 02:02:54,334
And the last fight let us face

2440
02:02:54,372 --> 02:02:57,830
The  Internationale

2441
02:02:57,875 --> 02:03:02,005
Unites the whole darn
human race

2442
02:03:02,046 --> 02:03:04,276
So comrades, come on

2443
02:03:04,315 --> 02:03:06,044
Let's go rally

2444
02:03:06,083 --> 02:03:09,814
Andthe  lastlast fight let us face

2445
02:03:09,854 --> 02:03:13,255
The  Internationale

2446
02:03:13,290 --> 02:03:17,556
Unitesthe whole darn  human  race

2447
02:03:17,595 --> 02:03:21,554
No more deluded by reaction

2448
02:03:21,599 --> 02:03:25,000
On tyrants only we'll make war

2449
02:03:25,035 --> 02:03:29,267
The soldiers too will take strike action

2450
02:03:29,306 --> 02:03:32,332
They'll break ranks and fight no more

2451
02:03:32,376 --> 02:03:36,540
And if those cannibals keep trying

2452
02:03:36,580 --> 02:03:40,175
To sacrifice us to their pride

2453
02:03:40,217 --> 02:03:44,313
Each  atthe forge  must do their duty

2454
02:03:44,355 --> 02:03:47,916
And we'll  strike whilethe  iron is  hot

2455
02:03:47,958 --> 02:03:51,985
So comrades, come on, let's go rally

2456
02:03:52,029 --> 02:03:55,829
Andthe  lastlast fight let us face

2457
02:03:55,866 --> 02:03:59,029
The  Internationale

2458
02:03:59,069 --> 02:04:03,403
Unites the whole beautiful
human race

2459
02:04:03,441 --> 02:04:07,241
So comrades, come on, let's go rally

2460
02:04:07,278 --> 02:04:11,305
Andthe lastlast fight let us face

2461
02:04:11,348 --> 02:04:14,476
The Internationale

2462
02:04:14,518 --> 02:04:20,320
Unites the whole darn
human race.

2463
02:04:36,073 --> 02:04:39,042
Jesus Christ was a man

2464
02:04:39,076 --> 02:04:41,636
That traveled throughthe  land

2465
02:04:41,679 --> 02:04:46,878
A carpenter true and brave

2466
02:04:46,917 --> 02:04:49,545
And he saidtothe rich

2467
02:04:49,587 --> 02:04:52,112
Give your goods to the poor

2468
02:04:52,156 --> 02:04:57,253
And they laid Jesus Christ
in the grave

2469
02:04:57,294 --> 02:05:00,058
Hewenttothe sick

2470
02:05:00,097 --> 02:05:02,895
And he went to the poor

2471
02:05:02,933 --> 02:05:05,527
And hewenttothe  hungry

2472
02:05:05,569 --> 02:05:08,129
Andthe  lame

2473
02:05:08,172 --> 02:05:10,572
And he saidthatthe meek

2474
02:05:10,608 --> 02:05:13,475
Would  inherit the wholeworld

2475
02:05:13,511 --> 02:05:18,539
And they laid Jesus Christ in the grave

2476
02:05:19,717 --> 02:05:21,548
One day Jesus stopped

2477
02:05:21,585 --> 02:05:24,383
At a rich  man's door

2478
02:05:24,421 --> 02:05:29,381
What must I do to be saved?

2479
02:05:30,394 --> 02:05:32,555
Take all you own

2480
02:05:32,596 --> 02:05:35,030
And give  ittothepoor

2481
02:05:35,065 --> 02:05:40,230
And they laid Jesus Christ in the grave

2482
02:05:40,271 --> 02:05:42,762
When the love of the poor

2483
02:05:42,806 --> 02:05:45,502
Shall one day turn to hate

2484
02:05:45,543 --> 02:05:48,171
When the patience of the workers

2485
02:05:48,212 --> 02:05:50,680
Gives away

2486
02:05:50,714 --> 02:05:53,740
it would better forthe  rich

2487
02:05:53,784 --> 02:05:56,309
If they'd never been born

2488
02:05:56,353 --> 02:06:01,188
So they laid Jesus Christ in the grave

2489
02:06:07,097 --> 02:06:09,725
When Jesus came to town

2490
02:06:09,767 --> 02:06:12,327
All theworking folks around

2491
02:06:12,369 --> 02:06:17,602
Believed what he did say

2492
02:06:17,641 --> 02:06:20,667
But bankers and preachers

2493
02:06:20,711 --> 02:06:22,941
Nailed him tothe cross

2494
02:06:22,980 --> 02:06:27,974
And they laid Jesus Christ in the grave

2495
02:06:28,018 --> 02:06:30,782
the people held theirbreath

2496
02:06:30,821 --> 02:06:33,688
When they heard about his death

2497
02:06:33,724 --> 02:06:38,957
And everybody wondered why

2498
02:06:38,996 --> 02:06:42,159
itwasthe  landlord and  soldiers

2499
02:06:42,199 --> 02:06:44,326
Lawmen they had hired

2500
02:06:44,368 --> 02:06:49,635
That nailed Jesus Christ in the sky

2501
02:06:49,673 --> 02:06:52,506
We would lay Jesus Christ

2502
02:06:52,543 --> 02:06:55,171
In the grave Lord,  Lord

2503
02:06:55,212 --> 02:06:59,308
We would lay Jesus Christ
in the grave

2504
02:07:00,317 --> 02:07:02,911
If Jesus preached today

2505
02:07:02,953 --> 02:07:05,717
Like he preached in Galilee

2506
02:07:05,756 --> 02:07:10,591
They would lay Jesus Christ
in his grave.