Trailer video at the link.
Plunder: The Crime of Our Time is a hard-hitting investigative film by Danny Schechter. The "News Dissector" explores how the financial crisis was built on a foundation of criminal activity uncovering the connection between the collapse of the housing market and the economic catastrophe that followed.
The film opens with the conviction of Ponzi King Bernie Madoff, whose acknowledged criminality drove a $65 billion dollar pyramid scheme. It argues that the wrong doing committed by a few individuals distracts from the real story, implicating the best-known institutions that financed and profited from fraudulent sub prime lending. This connection is now being investigated by the FBI as part of a probe into what it calls a "fraud epidemic."
PLUNDER shows how these firms created special securities to repackage and resell these dubious loans after they were re-rated as Triple A. These firms then bet against many of these toxic assets with credit default swaps and other insurance scams. By leveraging these investments, they recklessly put trillions of dollars and the world economy at risk.
To tell this story Schechter speaks with bankers involved in these activities, respected economists, insider experts, top journalists, including Paul Krugman, and even a convicted white-collar criminal, Sam Antar, who blows the whistle on intentionally dishonest practices.
If you read Richard Heinberg, you get the idea that the whole 2008 financial crisis had oil scarcity at its root. Not true. It would be good for the PO doom fantasy if it were, though, huh?
