Michael Moore w/ 'Talking Pictures': 'It's a Scam.' The Banks Want Land. 'Why Are We So Gullible?'

[Hissyspit]

Run time: 03:17 https://www.youtube.com/watch?v=XWIdi_sj0P0   Posted on YouTube: September 29, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: September 29, 2009 By DU Member: Hissyspit Views on DU: 1043

 
Michael Moore chats about his new film "Capitalism: A Love Story" with Talking Pictures' Tony Toscano. The New documentary focuses on the financial health of Americans.

TOSCANO: So, I'm watching this film going 'Yeah, I can't see where people can get misled.'

MOORE: Yeah, people who haven't been misled yet think 'Oh, people are just stupid or they're not paying attention or whatever.' If you actually pick up the 50 or 100 page contract of the refinancing or whatever, it's like... I gave it to a Harvard professor - she couldn't read it. She couldn't find how much the balloon payment was going to go up. It's a scam. It needs to be stopped. So many people are suffering. Did you know that one out of eight homes in this country are either in delinquency or foreclosure.

MOORE: You're not alone in this. Tens of millions of people are in your situation.

TOSCANO: No, and the problem is that they want you there. I think they are going after property now. I think they just want your property.

MOORE: Of course, of course. Because what did your grandparents, your parents tell you? Land. 'If you ever get any money, son, buy some property.' And the banks are going 'Wow, if we could kind of re-jigger this contract so that they fail, we're gonna own land.' And you can't go wrong with land. I mean, the housing bubble, you have a dip a little bit, but it will never go the way of a dot-com stock. It won't go from 100 dollar share a stock to 10 cents.

TOSCANO: But the bailout situation was for us, and yet we bailed out executives. That's how they sold it.

MOORE: Yeah, they sold it. Jeez, why are we so gullible. The American people, we're like, we just, I mean, when will we stop falling for this.

TOSCANO: I don't know. I mean, I think when it happens to everyone. Then it's too late...

MOORE: Well, we're approaching that day, I gotta tell you. I mean, there's a simmering, simmering anger out there across the country. People are fed up. They work hard. They were promised the American dream, if they, you know, put their nose to the grindstone and kept their head down and did good work, and that hasn't happened.

TOSCANO: Well, here's also the thing about your films - whether you're on this side of the political valley or this side of the political valley, it gets people to think and say 'Well, could that really happen to me? Is Michael Moore telling me the truth, the whole truth?' And it prompts people to investigate this, I think. But are you Chicken Little too? Are you just screaming right now and nobody's listening?

MOORE: Oh, actually, I'm the opposite of that. I'm the person who twenty years ago told you that General Motors was starting to fail. And I'm the person who told you before we went to Iraq that there would be no weapons of mass destruction there. And I'm the person who told you two years ago we're going to have to have universal health care and it's about time we start that debate. I mean that's the history of my movies right there. So even if you don't agree with me necessarily politically, you might want to at least give me the benefit of the doubt, considering how many times I've tried to warn you, the public, that something was coming down the pike here and we better pay attention to it.

[Kaleko]

1. Right.

[zeemike]

2. I think that guy was right about the land.

That is what the banks really want...it is the best hedge against inflation....that is why they call it REAL estate.
All that other stuff is just numbers on paper and can disappear fast.