Capitalism: A Love Story 2009

The film presents a compelling exploration of America’s socioeconomic landscape, intertwining biting social critiques with real-life accounts of those grappling with the fallout from the recent economic crisis. It opens with security footage of bank robberies, set to the tune of “Louie, Louie,” capturing the chaotic spirit of desperation. A juxtaposition is quickly made through an Encyclopedia Britannica archive video, allowing audiences to compare contemporary America with the fallen grandeur of the Roman Empire.

As the narrative unfolds, the audience is presented with poignant home videos depicting families facing eviction, alongside a glimpse into the world of the “Condo Vultures,” a Florida real estate agent who thrived amidst a backdrop of foreclosures. This transition leads to a reflection on a nostalgic era often depicted as the “golden days” of American capitalism post-World War II.

A significant moment occurs when the film showcases an excerpt from President Jimmy Carter’s “Malaise” speech, wherein he warns the nation about a looming “crisis of confidence.” As it progresses, we see the shift during the Reagan years in the 1980s; policies initiated by Don Regan dismantled many safeguards, allowing corporations to gain unprecedented clout while unions dwindled, and socioeconomic disparities widened.

The documentary dives into the Luzerne County court scandal, alongside powerful testimonies like that of Captain Sullenberger, who sheds light on the dismal treatment of airline pilots. It also highlights the disturbing revelation of “dead peasant insurance” policies that enabled companies to profit from employee deaths.

In a notable segment, Michael Moore engages with several Catholic priests, including Bishop Thomas Gumbleton, who voice their concerns regarding capitalism’s discord with Christianity’s teachings. He presents a satirical hypothetical in which Jesus, as a capitalist, would focus on “maximizing profits” and enforcing pay-for-service healthcare, juxtaposed against pundits who celebrate capitalist endeavors as divine blessings.

A leaked Citigroup memo emphasizes the stark reality of wealth concentration, revealing that the top 1% commands more financial resources than the bottom 95% combined. This alarming statistic raises questions about societal disparities and elicits commentary from Stephen Moore of the Wall Street Journal, who controversially claims that “capitalism is a lot more important than democracy.”

The film also ventures into alternative economic models like co-determination worker cooperatives, showcasing that democracy can thrive within business frameworks, challenging the conventional capitalist narrative.

Moore draws on Dr. Jonas Salk’s legacy, noting how he selflessly chose public good over profit. This prompts a profound question regarding the current generation’s draw towards high finance rather than scientific innovation. In his exploration, Moore makes an earnest attempt to decode Wall Street’s derivatives and credit default swaps but is met with vague explanations and cryptic responses, reinforcing his belief that the complexities serve only to obfuscate and allow wrongdoing.

The portrayal of Alan Greenspan and the U.S. Treasury’s pivotal roles leading to the housing bubble signals pivotal shifts in the American economic landscape. With first-hand accounts from a former employee at Countrywide Financial, the film uncovers how favorable mortgage programs benefited many Washington elites.

Discussions with William Black illuminate the precarious position of the economy, likening it to a dam on the verge of collapse. The series of events that led to the controversial 2008 bailout, championed by Hank Paulson, is meticulously laid out. As Moore engages members of Congress—most notably Marcy Kaptur, who frames the bailout as a “financial coup d’état”—the intensity of the situation becomes markedly pronounced.

A gripping moment occurs during Moore’s exchange with Elizabeth Warren, wherein he queries, “Where’s our money?” referring to the substantial bailout funds. Warren’s chilling response of “I don’t know,” follows a suspenseful pause that accentuates the level of accountability sought.

The film captures the excitement leading to the 2008 U.S. elections, contrasting the rhetoric of capitalism versus socialism as part of a broader political maneuver. Hope is momentarily found in Barack Obama’s potential to course-correct the nation. In a striking contrast, archival footage of Franklin D. Roosevelt advocating for a Second Bill of Rights powerfully underscores what could be in contrast to present-day policies.

Moore articulates his own spiritual conflict as a Catholic, pondering whether Jesus would engage in hedge funds or short selling. His conclusion burgeons from a deeper revelation, positing that one cannot claim both capitalism and Christianity without a fundamental contradiction in values.

Amidst the film’s heavier themes, we see bright spots represented by individuals like Elizabeth Warren, Warren Evans, and Marcy Kaptur, who advocate for responsible governance and community support. The conclusion sees Moore symbolically encircling banks with police lines, as he asserts that capitalism is an evil that must be supplanted by a just democratic system, beseeching like-minded individuals to “speed it up,” a nod to a past presidential exhortation.