Capitalism: A Love Story 2009

As the curtain rises on Michael Moore’s scathing social commentary, the audience is immediately immersed in a world where the status quo is vigorously challenged. The film seamlessly weaves together a tapestry of personal stories, biting social satire, and pointed critiques of the economic system that has ravaged modern-day America.

The narrative begins with a series of security footage montages, showcasing brazen bank robberies (one culprit, remarkably, was seen navigating on a crutch) set to the infectious beat of “Louie, Louie”. This jarring juxtaposition of high-stakes criminal activity and carefree rock ‘n’ roll serves as a wake-up call to the audience, setting the tone for the rest of the film.

Moore then delves into the archives of Encyclopedia Britannica, utilizing vintage footage to draw parallels between contemporary America and the once-mighty Roman Empire. This thought-provoking comparison serves as a stark reminder that, despite our grand illusions about progress and advancement, we are not immune to the same pitfalls that have beset civilizations throughout history.

The film’s focus then shifts to the human cost of the economic crisis, with poignant home videos capturing the devastation as families are evicted from their homes. This is juxtaposed with the comically absurd “Condo Vultures”, a Florida real estate agent who thrived in the wake of foreclosure chaos.

In a bold move, Moore takes the audience on a journey through time, revisiting the “golden days” of American capitalism following World War II. The film then presents an excerpt from President Jimmy Carter’s landmark July 15, 1979 speech, in which he issued a poignant warning about America’s crisis of confidence and the dangers of self-indulgence and consumption.

As the years pass, we find ourselves in the Reagan era of the 1980s, where policies were designed to unleash the power of free enterprise. This led to an unprecedented concentration of corporate might, the erosion of union power, and a widening of socioeconomic disparities. The film then cuts to the Luzerne County court scandal, Captain Sullenberger’s impassioned congressional testimony regarding the mistreatment of airline pilots, and the expose on “dead peasant insurance” policies that have companies profiting from the deaths of their employees.

Moore also engages in thought-provoking conversations with several Catholic priests, including Bishop Thomas Gumbleton (Archdiocese of Detroit), all of whom see capitalism as fundamentally at odds with Christian teachings. This serves as a powerful reminder that even those who might be expected to uphold traditional values are not immune to the harsh realities of an economic system that prioritizes profit over people.

The film concludes by poking fun at what would happen if Jesus were a capitalist, driven to maximize profits, deregulate the banking industry, and expect the sick to pay out-of-pocket for their pre-existing conditions. This is juxtaposed with news pundits who declare the success of various capitalist ventures as a “blessing from God”. As the curtain falls, the audience is left grappling with the uncomfortable truth that our economic system is often at odds with our most deeply held values and beliefs.

As the film delves deeper into the intricacies of modern finance, it presents a stark reality: a plutocratic society where the wealthiest 1% hold more financial wealth than the remaining 95% combined. A leaked internal memo from Citigroup gleefully proclaims this state of affairs, sparking concern over the demand for a more equitable distribution of wealth. Moore then engages with Wall Street Journal columnist Stephen Moore (no relation), who posits that capitalism reigns supreme over democracy.

The film shifts its focus to worker cooperatives like Wisconsin’s Isthmus Engineering and California’s Alvarado Street Bakery, where employees democratically own and operate the companies, offering an alternative to the current capitalist system. This serves as a poignant reminder of the selflessness exhibited by Dr. Jonas Salk, who relinquished the patent for the polio vaccine, asking “Would you patent the sun?” Moore then ponders how America’s brightest young minds are drawn to finance instead of science, prompting him to seek technical explanations on Wall Street.

Moore encounters a brick wall when attempting to grasp the complexities of derivatives and credit default swaps, only to be rebuffed with the advice, “Don’t make any more movies.” Marcus Haupt, a former VP at Lehman Brothers, agrees to help but struggles to clearly elucidate these terms. Harvard professor Kenneth Rogoff also fails to simplify the concepts, apologizing for their exotic nature. Moore concludes that the convoluted system and jargon exist solely to confound and deceive, likening Wall Street to an “insane casino.”

Moore then turns his attention to Alan Greenspan’s role in the U.S. Treasury’s lead-up to the devastating United States housing bubble, which ravaged the American middle class. He also interviews a former Countrywide Financial employee responsible for their VIP program for “FOAs,” revealing how numerous members of Congress and political figures received preferential mortgage rates under the program.

The film then explores the build-up to the 2008 bailout proposed by Treasury Secretary Hank Paulson, formerly CEO of Goldman Sachs. Moore engages with several Members of Congress, including Ohio congresswoman Marcy Kaptur, who supports his assertion that the passage of the bailout constitutes a “financial coup d’état.”

As Moore delves into a candid conversation with Elizabeth Warren (head of the US Congressional Oversight Committee), he poses a probing question: “Where’s our money?” - a query that sparks introspection about the $700 billion bailout funds Congress allocated to big banks and Wall Street investment firms. The silence is palpable as Warren’s response, “I don’t know,” serves as a stark reminder of the administration’s lack of transparency. Undeterred, Moore seeks answers by contacting Paulson’s office, only to be met with a swift disconnection upon recognizing his identity.

Moore then ventures onto Wall Street, driven by a determination to reclaim the money on behalf of the American people. However, he is repeatedly denied entry into the major banks’ offices, highlighting the insurmountable barriers erected to conceal the truth.

As the documentary hurtles toward the 2008 US presidential election, Moore notes the pervasive branding of capitalism and socialism as scare tactics. He expresses hope that Barack Obama’s election might mark a turning point, setting America back on the path towards prosperity. The film juxtaposes the bleak economic reality of today with the progressive policies of President Franklin D. Roosevelt, who championed the Flint Sit-Down Strike in 1936.

Moore also shares archival footage of FDR advocating for a Second Bill of Rights, which would ensure every American access to “a useful job, a decent home, adequate health care, and a good education.” This historical context serves as a poignant reminder of the government’s responsibility to protect its citizens’ well-being.

Throughout the documentary, Moore grapples with his own spiritual beliefs as a Catholic. He queries whether Jesus would condone hedge fund practices or engage in short selling. His conclusion is that one cannot simultaneously claim allegiance to both capitalism and Christianity, for “you can’t love your money and love your neighbor.”

The documentary features several uplifting portrayals, including bailout watchdog Elizabeth Warren, Wayne County Sheriff Warren Evans, who implemented a moratorium on home evictions, and Ohio Representative Marcy Kaptur, who advocated on the US Congress floor for Americans to reclaim their homes as “squatters” - refusing to vacate.

As the cinematic narrative reaches its climax, Moore orchestrates a symbolic blockade of financial institutions, cordoning off banks and ultimately, the iconic hub of high-stakes trading, Wall Street. The film concludes with Moore delivering a poignant indictment of capitalism, positing that it is an insidious force that can only be vanquished by replacing it with a more equitable system - one where power resides not in the wallets of the wealthy, but in the collective will of the people. In a clever nod to the memorable phrase uttered by Don Regan to Ronald Reagan during a stirring speech, Moore issues a rallying cry to all who share his vision: “Speed it up,” urging those aligned with his ideals to hasten the pace of change and bring about a brighter future where economic power is harnessed for the greater good.