Greatest Fraud Ever Told

Rating: 9/10 (31 January 2016)

There is so much politically economic -- basically everything -- from foreign policy to economic banking and trade policy that has raped the little guy and this film addresses one of the greatest economic frauds in the nation's history that is at the heart of much of the nation's woes. The Great Recession of 2007 had the potential to revisit the Great Depression on steroids. The film explained some of the complex minutiae of it defining the mortgage backed securities fraud that was at the epicenter of it and explaining some things like CDS (Credit Default Swaps), CDOs (Colateralized Debt Obligations), sub-prime loans and worthless mortgage backed securities through persons who knew the collapse would happen years before it actually did.
This gargantuan complex fraud had the attendant potential to collapse not only the US economy but the world economy and even end the capitalist system as we know it. Yes, we were that close until the US government, funded by you and me, bailed out the too-big-to-fail banks that created the fraud and allowed their CEO's to collect bonuses to boot. They put the 99% in a sink hole leaving us to drown in the muck they created as they sped away in their yachts toting their money bags in hand. Their profits tricked down to nowhere but themselves.
The film was not boring, it was precise and tried to explain the complexity of what happened and how trillions of bucks were lost, millions of jobs were lost and millions more homes were lost relegating many to live on the street at the mercy of what the immoral predatory banksters had perpetrated.
It was and still, in part, is an unhappy time, a catastrophic time and no one from the Wall Street that perpetrated the greatest fraud has been jailed ... yet. Instead they were rewarded, collected their bonuses and knew that if the system collapsed again the government would come to their rescue and bail them out saving their banks moral hazard be damned.
Every sector of our nation, I believe, bears the DNA of this gargantuan fraud. Wall Street knew Congress, which most understand is bought by Wall Street, would never let it fail and so it continues albeit with some changes dressed somewhat differently but still keeps the 1% fat cats happy knowing that Congress will be there to provide the safety net should the nation stand on the catastrophic precipice they create again. The Glass-Stegall Act of 1933 having been repealed in 1999 makes unregulated Wall Street economic anarchy a recipe for disaster yet again.
The film is blood pressure raising but understanding what occurred is a must if we are to fix that which is so broken in our nation and by doing so never allow this to happen again. It can, I believe, be done but will NOT be done by electing the very same persons of the same political stripes that perpetrated the greatest fraud ever told.