1
00:00:01,840 --> 00:00:04,001
when l started hearing
these new terms.

2
00:00:04,043 --> 00:00:08,173
So l went down to the New York Stock
Exchange to get some answers.

3
00:00:08,213 --> 00:00:09,942
Sir, can you explain
derivatives to me?

4
00:00:09,982 --> 00:00:12,212
Can anybody explain
derivatives or credit default swaps?

5
00:00:12,251 --> 00:00:13,479
Can someone explain
to me what these are?

6
00:00:13,519 --> 00:00:15,749
Sir, can you tell me what
a credit default swap is?

7
00:00:15,788 --> 00:00:17,312
Can you explain
a derivative to me?

8
00:00:17,356 --> 00:00:18,823
Can you tell me
what a derivative is?

9
00:00:18,857 --> 00:00:21,121
- Nobody'll talk to me.
- l'm just a blue-collar guy.

10
00:00:21,160 --> 00:00:22,821
l can see that.
Hey.

11
00:00:22,861 --> 00:00:25,386
- l'm looking for some advice.
- Yeah, good.

12
00:00:25,431 --> 00:00:28,559
You guys got any
advice for me here?

13
00:00:28,601 --> 00:00:30,592
A derivative?
Credit default swap?

14
00:00:30,636 --> 00:00:32,103
( sighs )

15
00:00:32,137 --> 00:00:34,662
Moore:
l did find one guy on Wall Street

16
00:00:34,707 --> 00:00:36,538
who wasn't a film critic.

17
00:00:36,575 --> 00:00:39,942
Marcus Haupt is an lvy League
educated engineer

18
00:00:39,979 --> 00:00:42,607
who was a vice president
of Lehman Brothers

19
00:00:42,648 --> 00:00:45,139
and spent 15 years
on Wall Street

20
00:00:45,184 --> 00:00:48,210
creating what they call
complex financial instruments.

21
00:00:48,253 --> 00:00:49,743
What is a derivative?

22
00:00:49,788 --> 00:00:51,881
A derivative
is a secondary bet

23
00:00:51,924 --> 00:00:53,721
on an underlying product.

24
00:00:53,759 --> 00:00:55,784
So you may have a stock
and you have an option on that stock.

25
00:00:55,828 --> 00:00:59,059
And that option on that stock
allows you the privilege

26
00:00:59,098 --> 00:01:01,464
but not the obligation
to buy or sell.

27
00:01:01,500 --> 00:01:04,526
How should we put this?
You are allowed to make a decision

28
00:01:04,570 --> 00:01:07,061
of whether or not you want to ultimately
take that exposure.

29
00:01:07,106 --> 00:01:09,666
Let me explain it another way.
The derivative's price

30
00:01:09,708 --> 00:01:11,699
is based on the price
of something else.

31
00:01:11,744 --> 00:01:13,678
lt's kind of like
a second-degree equation.

32
00:01:13,712 --> 00:01:16,442
lf you think of,
let's say...

33
00:01:16,482 --> 00:01:19,918
um, maybe l should go back.

34
00:01:19,952 --> 00:01:22,113
Let me start this over again.
Let's go back here.

35
00:01:23,188 --> 00:01:25,782
Moore:
l was lost.

36
00:01:25,824 --> 00:01:28,520
Maybe there's someone
at Harvard University

37
00:01:28,560 --> 00:01:30,187
who could explain it to me.

38
00:01:30,229 --> 00:01:32,663
Yeah, the-- the-- the--

39
00:01:32,698 --> 00:01:35,633
the-- the-- the--
the buyer--

40
00:01:35,668 --> 00:01:38,831
so the seller holds the loan
and it might default.

41
00:01:38,871 --> 00:01:42,068
And they sell off--

42
00:01:42,107 --> 00:01:44,871
somebody-- somebody else--

43
00:01:44,910 --> 00:01:47,879
Sorry, let me just back up.

44
00:01:47,913 --> 00:01:51,610
l apologize.
These are pretty exotic.

45
00:01:51,650 --> 00:01:53,675
Moore:
Derivatives are nothing more

46
00:01:53,719 --> 00:01:55,949
than complicated
betting schemes.

47
00:01:55,988 --> 00:01:58,923
Here's what the math equation
of one looks like.

48
00:01:58,957 --> 00:02:00,788
Can't figure it out?

49
00:02:00,826 --> 00:02:03,317
That's okay.
You're not supposed to.

50
00:02:03,362 --> 00:02:05,626
They've made them
purposely confusing

51
00:02:05,664 --> 00:02:07,723
so they can get away
with murder.

52
00:02:07,766 --> 00:02:09,734
Let's say you're a lawyer
and you're coming in

53
00:02:09,768 --> 00:02:11,599
and you're from the government
and you're trying to evaluate

54
00:02:11,637 --> 00:02:14,128
if these things
violate the tax code or not.

55
00:02:14,173 --> 00:02:16,073
lf you can figure out
what they're doing,

56
00:02:16,108 --> 00:02:18,440
most likely that Wall Street
firm will offer you a job.

57
00:02:18,477 --> 00:02:22,004
Could l go to Wall Street
and just ask them

58
00:02:22,047 --> 00:02:24,140
to set up a derivative
on anything?

59
00:02:24,183 --> 00:02:25,582
Yes.

60
00:02:25,617 --> 00:02:27,084
Believe me,
if it's out there

61
00:02:27,119 --> 00:02:28,711
there's a derivative on it.

62
00:02:28,754 --> 00:02:31,245
Moore:
So this is what Wall Street has come to--

63
00:02:31,290 --> 00:02:33,758
an insane casino.

64
00:02:33,792 --> 00:02:36,283
We've allowed them
to bet on anything,

65
00:02:36,328 --> 00:02:39,565
including our family home.

66
00:02:45,671 --> 00:02:48,640
Reporter #1 : ...the most powerful central
banker of the 20th century.

67
00:02:48,674 --> 00:02:50,938
Reporter #2:
Greenspan has become an economic icon.

68
00:02:50,976 --> 00:02:54,207
Reporter #3: Alan Greenspan says
the economy is hunky-dory.

69
00:02:54,246 --> 00:02:56,646
Reporter #4: Greenspan gone wild.
lt's like ''Girls Gone Wild.''

70
00:02:56,682 --> 00:02:59,549
What do Mick Jagger
and Alan Greenspan have in common?

71
00:02:59,585 --> 00:03:02,850
Alan Greenspan,
who at that moment in time

72
00:03:02,888 --> 00:03:05,083
was surely thought to be
the smartest man

73
00:03:05,124 --> 00:03:06,887
who had walked the face
of the earth,

74
00:03:06,925 --> 00:03:10,053
he starts using a phrase,
''tap your home equity,''

75
00:03:10,095 --> 00:03:12,928
--that Americans can tap
their home equity,

76
00:03:12,965 --> 00:03:15,195
which is just
Alan Greenspan-speak

77
00:03:15,234 --> 00:03:18,169
for ''borrow against
your home.''

78
00:03:18,203 --> 00:03:20,398
And if you can't repay it
you'll lose your house.

79
00:03:20,439 --> 00:03:24,603
lt actually started by talking
mostly older Americans,

80
00:03:24,643 --> 00:03:26,167
people who already
had homes,

81
00:03:26,211 --> 00:03:29,078
into refinancing
their homes

82
00:03:29,114 --> 00:03:30,877
to get them out of houses.

83
00:03:30,916 --> 00:03:34,750
Moore: Yes, get senior citizens
out of their houses.

84
00:03:34,787 --> 00:03:37,779
The scam to swindle people
out of the homes

85
00:03:37,823 --> 00:03:40,815
they already owned
was masterful.

86
00:03:40,859 --> 00:03:43,384
Here's how it worked.

87
00:03:43,428 --> 00:03:47,091
First, tell these homeowners
that they own a bank.

88
00:03:47,132 --> 00:03:50,101
And that bank is your home.

89
00:03:50,135 --> 00:03:53,866
So if your home
is worth $250,000,

90
00:03:53,906 --> 00:03:56,966
that makes you
a quarter millionaire.

91
00:03:57,009 --> 00:03:59,375
You're sitting
on a goldmine.

92
00:03:59,411 --> 00:04:02,312
You own your own bank.

93
00:04:02,347 --> 00:04:04,645
The bank of you.

94
00:04:04,683 --> 00:04:08,050
And you can use your bank
to get more money.

95
00:04:08,086 --> 00:04:09,553
Just refinance.

96
00:04:09,588 --> 00:04:11,283
Everyone's doing it.

97
00:04:11,323 --> 00:04:14,622
Of course hidden in the dozens
or hundreds of pages of fine print

98
00:04:14,660 --> 00:04:16,924
are tricky clauses that allow the bank
to raise your interest rate

99
00:04:16,962 --> 00:04:18,623
to a number
you didn't know about,

100
00:04:18,664 --> 00:04:20,689
perhaps so high that you won't
be able to repay your loan.

101
00:04:20,732 --> 00:04:22,461
But that's okay.

102
00:04:22,501 --> 00:04:25,959
lf you can't pay it
we'll just take your house.

103
00:04:28,473 --> 00:04:30,805
Of course, before they
could take your house

104
00:04:30,843 --> 00:04:33,812
they needed to change
the regulations and the rules.

105
00:04:33,846 --> 00:04:36,679
Moore:
What's this photo l found here?

106
00:04:36,715 --> 00:04:39,343
lt was in an annual
report of the FDlC.

107
00:04:39,384 --> 00:04:43,878
John Gilleran, the head of the Office
of Thrift Supervision,

108
00:04:43,922 --> 00:04:45,446
which is supposed to regulate
savings and loans,

109
00:04:45,490 --> 00:04:47,788
he's the guy
with the chainsaw.

110
00:04:47,826 --> 00:04:50,192
And the four other
grinning idiots

111
00:04:50,229 --> 00:04:54,757
in the photo are the three
leading lobbyists in banking

112
00:04:54,800 --> 00:04:58,759
and the deputy director of the Federal
Deposit lnsurance Corporation.

113
00:04:58,804 --> 00:05:02,763
And they're poised over
a pile of regulations.

114
00:05:02,808 --> 00:05:04,571
And this is supposed
to demonstrate

115
00:05:04,610 --> 00:05:07,704
their intention
to destroy regulation.

116
00:05:07,746 --> 00:05:10,214
And they succeeded.

117
00:05:10,249 --> 00:05:12,114
And now we know what happens

118
00:05:12,150 --> 00:05:14,277
when you destroy
financial regulation.

119
00:05:14,319 --> 00:05:16,685
You produce a financial
catastrophe.

120
00:05:16,722 --> 00:05:19,350
A growing family
with a lot of debt;

121
00:05:19,391 --> 00:05:21,552
A young couple
with no down payment;

122
00:05:21,593 --> 00:05:24,619
A business owner whose
income was hard to document;

123
00:05:24,663 --> 00:05:27,632
Every one of them was
turned down for a home loan

124
00:05:27,666 --> 00:05:29,224
by three different lenders.

125
00:05:29,268 --> 00:05:32,533
l'm with Countrywide
and l got them all approved.

126
00:05:32,571 --> 00:05:35,563
Moore:
Don't be fooled by the pleasant demeanor

127
00:05:35,607 --> 00:05:37,268
and blonde hair.

128
00:05:37,309 --> 00:05:39,709
lt's the same pitch
the mafia gives you

129
00:05:39,745 --> 00:05:41,542
in the neighborhood.

130
00:05:41,580 --> 00:05:43,104
( imitating Brando )
l know how you feel.

131
00:05:43,148 --> 00:05:45,139
You got a lot of debt.

132
00:05:45,183 --> 00:05:47,344
You don't have any money
for the down payment.

133
00:05:47,386 --> 00:05:49,752
You can't find
your documents.

134
00:05:49,788 --> 00:05:52,985
lt's okay.
l'll make you a loan you can't refuse.

135
00:05:53,025 --> 00:05:54,890
lt's called subprime.

136
00:05:54,927 --> 00:05:57,225
You pay no interest now.

137
00:05:57,262 --> 00:05:59,560
You pay a little more later.

138
00:05:59,598 --> 00:06:03,056
Don't worry about later.
We'll take care of you.

139
00:06:03,101 --> 00:06:06,264
And like the mafia,
Countrywide,

140
00:06:06,305 --> 00:06:09,934
Citibank, Wells Fargo,
Chase...

141
00:06:09,975 --> 00:06:11,772
Let's go.

142
00:06:11,810 --> 00:06:14,244
...they would someday
stop by to collect

143
00:06:14,279 --> 00:06:17,112
and take your home.

144
00:06:19,484 --> 00:06:23,113
Randy Hacker:
l was paying 1,700 a month and making it.

145
00:06:23,155 --> 00:06:25,783
Then it went to 2,000.
Then it went to 2,300.

146
00:06:25,824 --> 00:06:27,917
Then it went to 2,700.

147
00:06:27,960 --> 00:06:29,894
Can't do it.

148
00:06:33,699 --> 00:06:37,726
Moore: These are the Hackers
of Peoria, lllinois.

149
00:06:37,769 --> 00:06:40,363
Randy is a railroad worker

150
00:06:40,405 --> 00:06:43,169
and Donna works
for retirement homes.

151
00:06:43,208 --> 00:06:47,076
Their farm, which had
been in the family for over four decades,

152
00:06:47,112 --> 00:06:50,479
had been foreclosed
on by Citibank.

153
00:06:50,515 --> 00:06:53,313
Randy had had an accident
on the job years ago

154
00:06:53,352 --> 00:06:55,115
and was now
on disability.

155
00:06:57,723 --> 00:07:02,387
They absolutely just plain
fucking stole everything,

156
00:07:02,427 --> 00:07:04,418
my whole life's savings
and everything,

157
00:07:04,463 --> 00:07:08,331
by a stroke of a pen
and a lawyer and a judge.

158
00:07:08,367 --> 00:07:11,700
Moore: The Hackers showed me
the foreclosure notice from Citibank.

159
00:07:11,737 --> 00:07:13,364
What caught my eye

160
00:07:13,405 --> 00:07:16,135
was the town from which
their mortgage came.

161
00:07:16,174 --> 00:07:19,803
lt turns out that a company
owned by the big banks

162
00:07:19,845 --> 00:07:22,780
has chosen to run
60 million mortgages through,

163
00:07:22,814 --> 00:07:26,113
of all places, one of
the most desperate towns

164
00:07:26,151 --> 00:07:27,812
in the United States.

165
00:07:27,853 --> 00:07:30,321
This company hires
the people of Flint

166
00:07:30,355 --> 00:07:32,721
to send out nearly 60%

167
00:07:32,758 --> 00:07:36,057
of all the foreclosure
notices in the country.

168
00:07:36,094 --> 00:07:39,325
ln what seems to be some
sort of cruel joke,

169
00:07:39,364 --> 00:07:41,832
my hometown was now
in the service

170
00:07:41,867 --> 00:07:44,301
of helping to turn
the rest of America

171
00:07:44,336 --> 00:07:46,463
into Flint.

172
00:07:50,709 --> 00:07:53,701
Typically when a bank forces
a family like the Hackers

173
00:07:53,745 --> 00:07:56,407
out of their home
they hire professionals

174
00:07:56,448 --> 00:07:58,211
to come and clean up
the place.

175
00:07:59,651 --> 00:08:01,915
ln this case,
the bank figured,

176
00:08:01,953 --> 00:08:05,684
why pay top dollar when
we've got a desperate family

177
00:08:05,724 --> 00:08:07,749
who will work cheap?

178
00:08:07,793 --> 00:08:09,920
ln a final humiliation

179
00:08:09,961 --> 00:08:12,156
the Hackers went
to work for the bank

180
00:08:12,197 --> 00:08:14,062
that took their home.

181
00:08:16,034 --> 00:08:18,764
Donna: ''Property is to be turned over
in broom-clean condition

182
00:08:18,804 --> 00:08:21,739
with all trash, debris
and personal property removed.

183
00:08:23,575 --> 00:08:25,543
Upon delivery of the keys

184
00:08:25,577 --> 00:08:29,172
the PAS representative will
hand you a check for $1,000.''

185
00:08:34,820 --> 00:08:38,017
Randy:
You know, 1,000 bucks

186
00:08:38,056 --> 00:08:41,492
to get out
of my own house and stuff,

187
00:08:41,526 --> 00:08:44,586
l really want to thank them.
That was really something.

188
00:08:44,629 --> 00:08:47,393
My wife worked for a week
to clean the house up

189
00:08:47,432 --> 00:08:49,559
and make sure it was
presentable to somebody else.

190
00:08:49,601 --> 00:08:52,229
l'm glad they did that.
l have to thank them.

191
00:08:52,270 --> 00:08:54,238
lt was awful nice of them.

192
00:08:54,272 --> 00:08:57,002
Yeah, l'd like to
thank them all right.

193
00:09:06,017 --> 00:09:08,611
l have one more.

194
00:09:10,956 --> 00:09:13,686
Oh, that goes to
our bedroom door.

195
00:09:13,725 --> 00:09:15,784
Trying to think what--

196
00:09:15,827 --> 00:09:18,125
that goes that that.
l had a lock on it

197
00:09:18,163 --> 00:09:20,063
to keep kids out
'cause l have guns.

198
00:09:20,098 --> 00:09:22,430
And here's
your money, Randy.

199
00:09:22,467 --> 00:09:25,061
Moore:
What you're witnessing

200
00:09:25,103 --> 00:09:26,627
is a robbery.

201
00:09:28,073 --> 00:09:31,565
l'm starting to understand
why people,

202
00:09:31,610 --> 00:09:34,374
they lose their minds
and start shooting people.

203
00:09:34,412 --> 00:09:36,937
l'm not gonna say l would
do something like that,

204
00:09:36,982 --> 00:09:39,507
but l can see how
they get people

205
00:09:39,551 --> 00:09:41,746
into that situation where

206
00:09:41,786 --> 00:09:45,244
people go in there with bombs
and blow them up

207
00:09:45,290 --> 00:09:47,224
and shoot at them.

208
00:09:47,259 --> 00:09:49,352
Anything that happens to them
people, they deserve it,

209
00:09:49,394 --> 00:09:51,157
is all l can say.

210
00:09:51,196 --> 00:09:53,391
l hope something happens--

211
00:09:53,431 --> 00:09:56,628
yeah, well.

212
00:09:56,668 --> 00:09:58,932
Can't say no more.

213
00:10:03,642 --> 00:10:05,769
Some roadkill right there.

214
00:10:05,810 --> 00:10:07,539
Moore:
This is Bob Feinberg.

215
00:10:07,579 --> 00:10:11,345
He handled all the VlP loans
for Countrywide,

216
00:10:11,383 --> 00:10:15,319
the nation's largest
mortgage company.

217
00:10:15,353 --> 00:10:17,287
Although Countrywide
mainly specializes

218
00:10:17,322 --> 00:10:20,723
in outrageously high interest
loans for low income people,

219
00:10:20,759 --> 00:10:23,057
Bob's job was to take care of

220
00:10:23,094 --> 00:10:26,860
some of the country's
top political leaders.

221
00:10:26,898 --> 00:10:29,492
Bob: One day one of the bigger
bosses called me in the office.

222
00:10:29,534 --> 00:10:31,263
He said, ''l want you
to call this guy.''

223
00:10:31,303 --> 00:10:33,271
l said okay.

224
00:10:33,305 --> 00:10:36,240
And he said,
''He's a friend of Angelo's.''

225
00:10:36,274 --> 00:10:38,742
Angelo Mozilo's the CEO
of Countrywide.

226
00:10:38,777 --> 00:10:42,941
''Give him this rate.
Waive these fees.

227
00:10:42,981 --> 00:10:47,008
And get it locked in.
And don't fuck it up.''

228
00:10:47,052 --> 00:10:49,816
And l was like,
''Oh, okay.''

229
00:10:51,489 --> 00:10:53,150
So it was
a special department

230
00:10:53,191 --> 00:10:55,819
that handled friends
of Angelo.

231
00:10:57,195 --> 00:10:58,662
Discounts were being given.

232
00:10:58,697 --> 00:11:00,289
Fees were being waived.

233
00:11:00,332 --> 00:11:03,358
And at times paperwork
was being waived.

234
00:11:03,401 --> 00:11:07,497
We literally would
write on the file ''FOA.''

235
00:11:07,539 --> 00:11:10,269
These were really
important people.

236
00:11:10,308 --> 00:11:13,004
l had Richard Holbrooke--
Ambassador Holbrooke,

237
00:11:13,044 --> 00:11:15,239
Donna Shalala,

238
00:11:15,280 --> 00:11:18,443
people on Capitol Hill, people that
regulate the mortgage markets,

239
00:11:18,483 --> 00:11:20,747
people that regulate
Wall Street,

240
00:11:20,785 --> 00:11:24,016
and Jim Johnson,
head of Fannie Mae,

241
00:11:24,055 --> 00:11:26,922
Alphonso Jackson
the secretary of HUD...

242
00:11:28,526 --> 00:11:31,518
Senator Conrad from
the Finance Committee.

243
00:11:31,563 --> 00:11:34,589
l had the TV on in my house.
l was in the kitchen

244
00:11:34,633 --> 00:11:36,828
and l heard a voice
pontificating

245
00:11:36,868 --> 00:11:39,701
about predatory lending
and how we have to put an end to it.

246
00:11:39,738 --> 00:11:42,002
Our nation's financial regulators

247
00:11:42,040 --> 00:11:43,769
are supposed to
be the cops on the beat

248
00:11:43,808 --> 00:11:46,208
protecting working Americans

249
00:11:46,244 --> 00:11:47,973
from unscrupulous
financial actions.

250
00:11:48,013 --> 00:11:50,709
Bob: Senator Dodd--
Christopher Dodd-- was speaking.

251
00:11:50,749 --> 00:11:54,412
And l just stared at
the television and l was upset.

252
00:11:54,452 --> 00:11:56,977
Some of these loans
have legitimate uses,

253
00:11:57,022 --> 00:11:59,047
when made to sophisticated
borrowers

254
00:11:59,090 --> 00:12:01,217
with higher incomes.

255
00:12:01,259 --> 00:12:03,955
l had done a number
of loans for him

256
00:12:03,995 --> 00:12:06,725
in which he got discounts
and all the things

257
00:12:06,765 --> 00:12:08,528
that go with being
a friend of Angelo's

258
00:12:08,566 --> 00:12:10,090
and all the good stuff.

259
00:12:10,135 --> 00:12:12,103
Moore: The Senate Banking
and Housing Committee

260
00:12:12,137 --> 00:12:14,765
is supposed to be the watchdog
of the mortgage industry.

261
00:12:14,806 --> 00:12:18,071
Senator Dodd is the chairman
of this committee

262
00:12:18,109 --> 00:12:20,737
and has served on it
for over 28 years.

263
00:12:20,779 --> 00:12:23,009
As a friend of Angelo

264
00:12:23,048 --> 00:12:25,744
he received
over $1 million worth

265
00:12:25,784 --> 00:12:28,378
of discounted loans
from Countrywide.

266
00:12:28,420 --> 00:12:32,186
Someone next door here
is selling a toxic

267
00:12:32,223 --> 00:12:34,453
piece of crap
loan to somebody.

268
00:12:34,492 --> 00:12:38,326
l was required to give the most
suitable loan to that VlP.

269
00:12:38,363 --> 00:12:40,228
Moore:
Did you ever feel that

270
00:12:40,265 --> 00:12:42,358
what you were doing
might be bribery?

271
00:12:42,400 --> 00:12:45,369
Bob: l didn't feel like l was
bribing anybody, no.

272
00:12:45,403 --> 00:12:48,861
l was just doing my job.
l was the VlP guy.

273
00:12:48,907 --> 00:12:50,636
Everyone in the company
knew who l was.

274
00:12:50,675 --> 00:12:52,336
You know, everyone.

275
00:12:52,377 --> 00:12:54,937
So it was kind of
a flattering situation.

276
00:12:54,979 --> 00:12:58,471
But no, l don't feel like l did
anything wrong at all.

277
00:12:58,516 --> 00:13:01,576
And if l didn't do it, somebody else
would have been doing it.

278
00:13:03,455 --> 00:13:05,980
Moore:
That's why we need people like Bill Black,

279
00:13:06,024 --> 00:13:08,185
one of the bank regulators
who uncovered

280
00:13:08,226 --> 00:13:10,456
the Savings & Loan scandal
in the 1980s.

281
00:13:10,495 --> 00:13:12,622
Something improper happened

282
00:13:12,664 --> 00:13:14,962
and l bet you
the regulators know.

283
00:13:14,999 --> 00:13:17,934
Moore: One of the leading figures of
that scandal, Charles Keating,

284
00:13:17,969 --> 00:13:20,767
had an idea on what to do
with Bill Black

285
00:13:20,805 --> 00:13:23,296
and sent a memo out
with these instructions.

286
00:13:24,476 --> 00:13:27,502
l asked him who was
looking out for us today.

287
00:13:27,545 --> 00:13:30,173
Where was the FBl
in all of this?

288
00:13:30,215 --> 00:13:32,945
The FBl began
publicly warning

289
00:13:32,984 --> 00:13:35,475
in September 2004

290
00:13:35,520 --> 00:13:38,751
that there was an epidemic
of mortgage fraud

291
00:13:38,790 --> 00:13:40,985
perpetrated by the banks.

292
00:13:41,025 --> 00:13:42,686
Epidemic was their word.

293
00:13:42,727 --> 00:13:45,423
But when 9/11 hit,

294
00:13:45,463 --> 00:13:48,694
the Bush administration
transferred

295
00:13:48,733 --> 00:13:52,794
at least 500 white-collar
FBl specialists

296
00:13:52,837 --> 00:13:55,635
out of dealing
with white-collar crime,

297
00:13:55,673 --> 00:13:58,107
even though we were entering

298
00:13:58,143 --> 00:14:00,111
during the entire
Bush administration

299
00:14:00,145 --> 00:14:02,705
the greatest wave
of white-collar crime

300
00:14:02,747 --> 00:14:06,274
in the nation's history,
in fact, in the world's history.

301
00:14:06,317 --> 00:14:09,514
The FBl says that 80%

302
00:14:09,554 --> 00:14:11,545
of the mortgage
fraud losses

303
00:14:11,589 --> 00:14:14,422
are induced
by lender personnel.

304
00:14:14,459 --> 00:14:15,756
Meaning what?

305
00:14:15,794 --> 00:14:18,228
Meaning not the borrower

306
00:14:18,263 --> 00:14:21,391
coming off the street trying
to defraud the savings and loan.

307
00:14:21,433 --> 00:14:25,301
These are frauds led by whoever
controls the organization.

308
00:14:25,336 --> 00:14:27,998
- Right.
- lt's typically the CEO in other words.

309
00:14:28,039 --> 00:14:31,065
So did these CEOs
think they were gonna get away with it?

310
00:14:31,109 --> 00:14:33,270
They have gotten
away with it.

311
00:14:34,979 --> 00:14:37,072
Moore:
Yes, apparently they did.

312
00:14:37,115 --> 00:14:39,879
And with the presidential
election just around the corner...

313
00:14:39,918 --> 00:14:43,183
- Define rich.
- 5 million.

314
00:14:43,221 --> 00:14:47,021
...the elites were worried that their crime
spree might come to an end.

315
00:14:47,058 --> 00:14:50,221
After bilking trillions
from the American public

316
00:14:50,261 --> 00:14:51,888
by repossessing their homes,

317
00:14:51,930 --> 00:14:54,194
bankrupting them
when they got sick

318
00:14:54,232 --> 00:14:56,496
and convincing them
to invest their earnings

319
00:14:56,534 --> 00:14:59,833
and pensions in the casino
known as the stock market,

320
00:14:59,871 --> 00:15:03,272
the rich decided to make
one last heist

321
00:15:03,308 --> 00:15:06,675
and as their 30-year long
party came to an end,

322
00:15:06,711 --> 00:15:10,203
take as much of the silverware
with them as they could.

323
00:15:10,248 --> 00:15:13,081
But first they needed
a distraction.

324
00:15:13,117 --> 00:15:16,382
And as they learned
after 9/11,

325
00:15:16,421 --> 00:15:19,185
nothing works better
in the home of the brave

326
00:15:19,224 --> 00:15:22,216
than some good old
fashioned fear.

327
00:15:22,260 --> 00:15:26,094
And who better to wheel out
for one last scary performance

328
00:15:26,130 --> 00:15:29,065
than Chicken Little himself?

329
00:15:29,100 --> 00:15:32,592
Oscar voters,
for your consideration.

330
00:15:32,637 --> 00:15:34,298
Good evening.

331
00:15:34,339 --> 00:15:36,864
This is an extraordinary period
for America's economy.

332
00:15:36,908 --> 00:15:39,536
The government's
top economic experts

333
00:15:39,577 --> 00:15:41,841
warn that without immediate
action by Congress,

334
00:15:41,880 --> 00:15:44,872
America could slip into
a financial panic

335
00:15:44,916 --> 00:15:48,010
and a distressing scenario
would unfold.

336
00:15:48,052 --> 00:15:51,453
More banks could fail,
including some in your community.

337
00:15:51,489 --> 00:15:53,980
- ( thunder rumbling )
- The stock market would drop even more,

338
00:15:54,025 --> 00:15:56,391
which would reduce the value
of your retirement account.

339
00:15:56,427 --> 00:15:59,089
The value of your home
could plummet.

340
00:15:59,130 --> 00:16:01,621
Foreclosures would
rise dramatically.

341
00:16:01,666 --> 00:16:03,896
And if you own
a business or a farm,

342
00:16:03,935 --> 00:16:06,563
you would find it harder
and more expensive to get credit.

343
00:16:06,604 --> 00:16:09,266
More businesses
would close their doors

344
00:16:09,307 --> 00:16:11,867
and millions of Americans
could lose their jobs.

345
00:16:11,910 --> 00:16:14,708
- ( screams )
- Even if you have good credit history,

346
00:16:14,746 --> 00:16:17,647
it would be more difficult for
you to get the loans you need

347
00:16:17,682 --> 00:16:19,980
to buy a car or send
your children to college.

348
00:16:20,018 --> 00:16:22,452
And ultimately our country
could experience

349
00:16:22,487 --> 00:16:25,251
- a long and painful recession.
- ( people screaming )

350
00:16:25,290 --> 00:16:29,420
Fellow citizens,
we must not let this happen.

351
00:16:29,460 --> 00:16:33,055
Moore: ln reality there was no
need for this speech,

352
00:16:33,097 --> 00:16:35,190
because the mainstream media

353
00:16:35,233 --> 00:16:37,502
had already drunk
the Kool-Aid.

354
00:16:38,870 --> 00:16:41,168
Meltdown.
The American financial system

355
00:16:41,205 --> 00:16:42,763
is rocked to its foundation.

356
00:16:42,807 --> 00:16:45,139
The giant bank crumbles,
stocks plummet.

357
00:16:45,176 --> 00:16:48,543
- Nightmare on Wall Street.
- AlG fights for its life.

358
00:16:48,580 --> 00:16:50,514
- Blood on the floor.
- Armageddon.

359
00:16:50,548 --> 00:16:53,676
A category-five test
of our financial levies.

360
00:16:53,718 --> 00:16:57,176
What the fuck happened?

361
00:16:57,221 --> 00:16:59,553
Have you ever seen
a dam fail?

362
00:16:59,591 --> 00:17:02,992
lt starts with a little crack,
a little seepage.

363
00:17:03,027 --> 00:17:04,517
Reporter:
With overwhelming support,

364
00:17:04,562 --> 00:17:06,496
Congress struck down
the restrictions.

365
00:17:06,531 --> 00:17:08,465
Big banking
is barreling back.

366
00:17:08,499 --> 00:17:10,524
Black:
And it starts eroding

367
00:17:10,568 --> 00:17:14,299
and it destroys all
the internal strength of the dam.

368
00:17:14,339 --> 00:17:16,000
Reporter:
Poison from the housing mess

369
00:17:16,040 --> 00:17:18,531
seeped deeper and deeper
into the banking system.

370
00:17:18,576 --> 00:17:20,669
Black:
And soon the dam works against itself.

371
00:17:20,712 --> 00:17:22,703
The weight of the dam
and the weight of the water

372
00:17:22,747 --> 00:17:24,112
conspire against it.

373
00:17:24,148 --> 00:17:25,877
Reporter:
lnvestors were dumping Bear shares

374
00:17:25,917 --> 00:17:27,407
leading a huge selloff...

375
00:17:27,452 --> 00:17:29,511
Reporter #2:
The stocks of Fannie Mae and Freddie Mac

376
00:17:29,554 --> 00:17:31,351
were in freefall
this morning...

377
00:17:31,389 --> 00:17:34,256
Black:
Then there's kind of a significant flow.

378
00:17:34,292 --> 00:17:37,728
Reporter: Wall Street's losing
streak stretched into its seventh day.

379
00:17:37,762 --> 00:17:41,789
Black: And then suddenly you've
got 60-70 foot sections.

380
00:17:41,833 --> 00:17:42,993
A dam exploding.

381
00:17:43,034 --> 00:17:44,763
Reporter:
Lehman Brothers, bankrupt.

382
00:17:44,802 --> 00:17:46,599
Merrill Lynch,
sold in haste.

383
00:17:46,638 --> 00:17:48,572
- Now AlG.
- Black: Just crashing.

384
00:17:48,606 --> 00:17:50,369
Reporter:
The market's year long slide

385
00:17:50,408 --> 00:17:53,036
has brought down
some of the biggest blue chips.

386
00:17:53,077 --> 00:17:54,874
Black:
The water starts rushing through.

387
00:17:54,912 --> 00:17:57,506
Reporter: This morning,
Washington Mutual has gone under,

388
00:17:57,548 --> 00:18:00,016
the largest failure
in US banking history.

389
00:18:00,051 --> 00:18:01,848
Reporter #2:
Stocks fell off a cliff.

390
00:18:01,886 --> 00:18:04,878
The largest single point drop in history.

391
00:18:07,558 --> 00:18:11,016
Black:
lt destroys the rest of the dam.

392
00:18:11,062 --> 00:18:12,859
And the whole failure

393
00:18:12,897 --> 00:18:15,388
looks like it only takes
two minutes.

394
00:18:15,433 --> 00:18:18,766
But of course,
it's that little hole

395
00:18:18,803 --> 00:18:21,704
that's been there
for several years

396
00:18:21,739 --> 00:18:24,299
that really destroyed it.

397
00:18:24,342 --> 00:18:27,937
You have this fundamentally
unsound system

398
00:18:27,979 --> 00:18:31,142
built on
a foundation of sand

399
00:18:31,182 --> 00:18:33,309
instead of bedrock.

400
00:18:33,351 --> 00:18:35,683
And it was rotted
from the core.

401
00:18:37,221 --> 00:18:40,554
lt seems like capitalism
is just collapsing on itself.

402
00:18:40,591 --> 00:18:42,320
Who got rich here?

403
00:18:42,360 --> 00:18:44,692
Lots of people got rich
during this time,

404
00:18:44,729 --> 00:18:49,325
primarily the officers
and directors

405
00:18:49,367 --> 00:18:51,961
of the large banks
and savings and loans

406
00:18:52,003 --> 00:18:54,494
and the specialty
non-prime lenders.

407
00:18:54,539 --> 00:18:57,975
These people became
unbelievably rich.

408
00:18:58,009 --> 00:19:01,308
And members of Congress got rich,

409
00:19:01,345 --> 00:19:03,142
especially once
they left Congress.

410
00:19:03,181 --> 00:19:06,309
A number of them go and work
in the financial institutions.

411
00:19:06,350 --> 00:19:08,944
Sure, and as do
Rubin and Summers.

412
00:19:08,986 --> 00:19:12,581
Moore:
Robert Rubin, a one-time top executive

413
00:19:12,623 --> 00:19:15,683
at both Citigroup
and Goldman Sachs

414
00:19:15,727 --> 00:19:17,524
champion a change in the law

415
00:19:17,562 --> 00:19:19,996
that allowed commercial banks
to get into new areas

416
00:19:20,031 --> 00:19:23,797
like investment banking
and exotic insurance products.

417
00:19:25,603 --> 00:19:27,730
This made it legal
to let Citicorp

418
00:19:27,772 --> 00:19:29,535
merge with Travelers Group,

419
00:19:29,574 --> 00:19:32,600
a deal valued
at $70 billion,

420
00:19:32,643 --> 00:19:34,975
creating the world's
largest bank.

421
00:19:35,012 --> 00:19:37,879
After leaving
the Clinton administration,

422
00:19:37,915 --> 00:19:39,712
Rubin worked for Citigroup,

423
00:19:39,751 --> 00:19:44,313
earning more than
$115 million.

424
00:19:44,355 --> 00:19:46,346
Summers made
his money where?

425
00:19:46,390 --> 00:19:50,156
Summers made his money
as a supposed consultant

426
00:19:50,194 --> 00:19:53,186
and in giving speeches

427
00:19:53,231 --> 00:19:55,563
at apparently, in some cases,

428
00:19:55,600 --> 00:19:58,728
over $100,000 a pop.

429
00:19:58,770 --> 00:20:02,433
Moore: Summers also made $5.2 million
at his part-time job,

430
00:20:02,473 --> 00:20:05,704
advising a hedge fund.

431
00:20:05,743 --> 00:20:07,335
Where did Geithner work?

432
00:20:07,378 --> 00:20:10,211
Geithner has been a failure

433
00:20:10,248 --> 00:20:12,512
at pretty much everything
he's done in life.

434
00:20:12,550 --> 00:20:17,146
Most of the institutions
that destroyed the economy

435
00:20:17,188 --> 00:20:20,589
were under his direct
regulatory authority.

436
00:20:20,625 --> 00:20:22,923
How did he get the job
as Treasury Secretary?

437
00:20:22,960 --> 00:20:25,952
By completely
screwing up his job

438
00:20:25,997 --> 00:20:29,057
as President of the Federal
Reserve Bank of New York.

439
00:20:29,100 --> 00:20:30,829
That makes no sense.

440
00:20:30,868 --> 00:20:32,495
Of course, it makes
perfect sense.

441
00:20:32,537 --> 00:20:34,664
This is not
new to Washington.

442
00:20:34,705 --> 00:20:37,173
People who will give you
the wrong answer

443
00:20:37,208 --> 00:20:40,541
but the answer you want
are invaluable.

444
00:20:40,578 --> 00:20:42,910
And they often get promoted

445
00:20:42,947 --> 00:20:45,916
precisely because
they're willing to say

446
00:20:45,950 --> 00:20:48,418
and do absurd things.

447
00:20:48,452 --> 00:20:52,286
These are the people
that promised us

448
00:20:52,323 --> 00:20:56,282
that financial deregulation
would make all of us rich.

449
00:20:56,327 --> 00:20:59,797
And these are the people who
were personally made rich.

450
00:21:02,934 --> 00:21:07,030
Moore: lt was not surprising that
the rich wanted to get richer.

451
00:21:07,071 --> 00:21:10,837
But now they had come up with
a new and brazen way to do it.

452
00:21:10,875 --> 00:21:14,777
Just back a big truck up
to the Department of Treasury

453
00:21:14,812 --> 00:21:18,304
and take $700 billion
of our tax money,

454
00:21:18,349 --> 00:21:20,340
no questions asked.

455
00:21:20,384 --> 00:21:24,150
l got Michael Moore here. You know who
Michael Moore is, don't you?

456
00:21:24,188 --> 00:21:27,055
The film director.
He's filming me right now.

457
00:21:27,091 --> 00:21:28,649
- l got my wife on the line.
- Oh, hi.

458
00:21:28,693 --> 00:21:30,456
How are you doing?
Baron Hill from lndiana.

459
00:21:30,494 --> 00:21:31,961
How are you, sir?
Good state.

460
00:21:31,996 --> 00:21:33,827
- We're from Michigan you know?
- Yeah.

461
00:21:33,865 --> 00:21:35,457
How did this
collapse happen?

462
00:21:35,499 --> 00:21:39,731
l got home on a Friday, everything
was just fine in terms of the economy.

463
00:21:39,770 --> 00:21:42,500
l call back after my plane
landed in lndiana

464
00:21:42,540 --> 00:21:44,872
just to check in
with my office,

465
00:21:44,909 --> 00:21:46,740
and all of a sudden we've
got this crisis on our hands

466
00:21:46,777 --> 00:21:48,836
and that l'm gonna have to vote
when l come back Monday

467
00:21:48,880 --> 00:21:52,338
for a multibillion-dollar bailout
of the financial industry.

468
00:21:52,383 --> 00:21:56,319
The word that we got
was that if we did not act immediately

469
00:21:56,354 --> 00:22:01,155
the economy would collapse,
no doubt about it.

470
00:22:01,192 --> 00:22:04,525
l felt that
the announcement

471
00:22:04,562 --> 00:22:06,928
of this crisis in September,

472
00:22:06,964 --> 00:22:08,829
just a few weeks
before election,

473
00:22:08,866 --> 00:22:10,163
was very suspicious.

474
00:22:10,201 --> 00:22:13,227
This is when Congress
is the most nervous.

475
00:22:13,271 --> 00:22:15,637
And l thought, ''Wait a minute.
What's going on here?

476
00:22:15,673 --> 00:22:18,107
This is not normal.''

477
00:22:18,142 --> 00:22:20,007
Moore:
The leadership of Congress

478
00:22:20,044 --> 00:22:21,636
and the Bush administration

479
00:22:21,679 --> 00:22:24,011
quickly held a series
of private meetings

480
00:22:24,048 --> 00:22:26,949
with the titans
of Wall Street to figure out

481
00:22:26,984 --> 00:22:29,316
just how much money
was needed to cover

482
00:22:29,353 --> 00:22:32,914
all the bad bets
investors had made.

483
00:22:32,957 --> 00:22:37,018
A deal was cut with Treasury
Secretary Henry Paulson,

484
00:22:37,061 --> 00:22:39,552
the former CEO
of Goldman Sachs,

485
00:22:39,597 --> 00:22:43,465
whose net worth was estimated
at $700 million

486
00:22:43,501 --> 00:22:47,335
when he left Goldman
to go and run the Treasury Department.

487
00:22:47,371 --> 00:22:51,171
l think we saw the best of
the United States of America

488
00:22:51,208 --> 00:22:54,609
in the Speaker's
office tonight.

489
00:22:54,645 --> 00:22:57,637
Moore:
The best of America?

490
00:22:57,682 --> 00:23:01,584
Or did he mean
the best of Goldman Sachs?

491
00:23:01,619 --> 00:23:03,382
The Treasury Department,

492
00:23:03,421 --> 00:23:05,753
it's basically an arm
of Wall Street.

493
00:23:05,790 --> 00:23:08,850
All the people in charge
were from Goldman Sachs.

494
00:23:08,893 --> 00:23:12,021
We call it Government Goldman
in the modern era.

495
00:23:12,063 --> 00:23:14,224
Moore:
That's because there were now numerous

496
00:23:14,265 --> 00:23:18,031
former Goldman executives
inside the Bush Treasury Department,

497
00:23:18,069 --> 00:23:20,333
as there were under Clinton.

498
00:23:20,371 --> 00:23:23,272
They worked as powerful
lobbyists from the inside

499
00:23:23,307 --> 00:23:25,605
to abolish
financial regulations

500
00:23:25,643 --> 00:23:28,111
while we paid
their salaries.

501
00:23:28,145 --> 00:23:30,409
Black:
Treasury Secretary Paulson--

502
00:23:30,448 --> 00:23:32,382
he wasn't just randomly
at Goldman.

503
00:23:32,416 --> 00:23:35,908
He was the guy at Goldman
who got them big time

504
00:23:35,953 --> 00:23:39,650
into buying these exotic
housing derivatives.

505
00:23:39,690 --> 00:23:43,148
So he got Goldman in
a huge amount of trouble.

506
00:23:43,194 --> 00:23:45,355
Moore:
lnsane housing derivatives

507
00:23:45,396 --> 00:23:48,388
had now destroyed much
of Goldman's competition.

508
00:23:48,432 --> 00:23:50,957
And with the Goldman boys
now calling the shots

509
00:23:51,002 --> 00:23:53,835
inside the government,
they would ensure that Goldman

510
00:23:53,871 --> 00:23:56,601
would end up as the kings
of Wall Street

511
00:23:56,640 --> 00:23:58,073
when the dust settled.

512
00:23:58,109 --> 00:23:59,838
Black:
So the last possible people

513
00:23:59,877 --> 00:24:02,675
that should be giving advice
to Treasury would be Goldman.

514
00:24:02,713 --> 00:24:04,237
So naturally Paulson,

515
00:24:04,281 --> 00:24:07,478
former CEO of Goldman,
puts them on.

516
00:24:07,518 --> 00:24:10,214
And what advice do they
end up giving?

517
00:24:10,254 --> 00:24:13,087
Well, to use the taxpayers

518
00:24:13,124 --> 00:24:15,558
to bail out Goldman

519
00:24:15,593 --> 00:24:18,460
and other favored financial
institutions.

520
00:24:18,496 --> 00:24:21,488
Well, Secretary Paulson
has submitted

521
00:24:21,532 --> 00:24:23,397
a simple proposal
to Congress.

522
00:24:23,434 --> 00:24:25,629
This is it--
three pages.

523
00:24:25,669 --> 00:24:28,433
lt's about
$1 billion a word.

524
00:24:28,472 --> 00:24:30,463
And it is quite simple.

525
00:24:30,508 --> 00:24:33,636
Secretary Paulson gets
the key to the treasury.

526
00:24:33,677 --> 00:24:36,942
He's gonna start off
by borrowing $700 billion

527
00:24:36,981 --> 00:24:38,471
in the name
of the American people,

528
00:24:38,516 --> 00:24:41,747
maybe more later.
And it waives all laws.

529
00:24:41,786 --> 00:24:44,016
All laws!

530
00:24:44,055 --> 00:24:47,491
Not even court review.
Pretty simple proposal.

531
00:24:47,525 --> 00:24:51,086
We are in a real
crisis situation

532
00:24:51,128 --> 00:24:53,119
that could mushroom

533
00:24:53,164 --> 00:24:55,530
into something worse
than the Great Depression.

534
00:24:55,566 --> 00:24:59,161
So l saw fear.
One gentleman started to cry.

535
00:24:59,203 --> 00:25:02,536
People are telling us
that it's going to be this gigantic calamity.

536
00:25:02,573 --> 00:25:04,438
And l'm up for election
in two months.

537
00:25:04,475 --> 00:25:06,238
Eight weeks away
from election,

538
00:25:06,277 --> 00:25:08,905
l don't want to make a mistake.
What's the right thing to do?

539
00:25:08,946 --> 00:25:11,107
Heaven help us.

540
00:25:11,148 --> 00:25:13,139
lf we fail to pass this

541
00:25:13,184 --> 00:25:15,948
l fear the worst
is yet to come.

542
00:25:15,986 --> 00:25:18,250
And a few members
were even told

543
00:25:18,289 --> 00:25:21,884
that there would be martial law
in America if we voted no.

544
00:25:21,926 --> 00:25:24,087
They were ramming this
thing down our throat.

545
00:25:24,128 --> 00:25:26,153
They wanted us to vote on it
right away

546
00:25:26,197 --> 00:25:28,859
without any kind of
thoughtful analysis.

547
00:25:28,899 --> 00:25:30,958
- No real hearings?
- No real hearings.

548
00:25:31,001 --> 00:25:33,060
And l wasn't about to--

549
00:25:33,104 --> 00:25:36,232
l got cornered into voting

550
00:25:36,273 --> 00:25:38,935
for the lraq resolution
based upon some lies

551
00:25:38,976 --> 00:25:40,876
that they made to me and l wasn't going
to go through that again.

552
00:25:40,911 --> 00:25:44,210
l will not wait on events
while danger is gathering.

553
00:25:44,248 --> 00:25:47,740
l will not stand by as peril
draws closer and closer.

554
00:25:47,785 --> 00:25:50,618
Use fear and then you
get done what you want.

555
00:25:52,656 --> 00:25:55,250
And they created
in this window--

556
00:25:55,292 --> 00:25:58,022
two months before election--
this pressure cooker.

557
00:25:58,062 --> 00:26:00,758
People understand that
the House of Representatives

558
00:26:00,798 --> 00:26:03,426
needs to pass this piece
of legislation.

559
00:26:03,467 --> 00:26:06,402
Mr. Speaker, my message
to the American people...

560
00:26:06,437 --> 00:26:09,429
don't let Congress
seal this Wall Street deal.

561
00:26:09,473 --> 00:26:12,033
These criminals have
so much political power

562
00:26:12,076 --> 00:26:14,510
they can shut down the normal
legislative process

563
00:26:14,545 --> 00:26:16,945
of the highest lawmaking
body in this land.

564
00:26:16,981 --> 00:26:18,915
All the committees
that should be scanning

565
00:26:18,949 --> 00:26:22,077
every word of what is being
negotiated are benched.

566
00:26:22,119 --> 00:26:24,849
And that means the American
people are benched too.

567
00:26:24,889 --> 00:26:27,119
We are constitutionally sworn

568
00:26:27,158 --> 00:26:29,285
to protect and defend
this republic

569
00:26:29,326 --> 00:26:32,557
against all enemies
foreign and domestic.

570
00:26:32,596 --> 00:26:35,394
They say it's gonna be
Y2K all over again.

571
00:26:35,432 --> 00:26:37,923
This is the same politics
of fear we are hearing

572
00:26:37,968 --> 00:26:40,459
from the fat-cat financial
bullies from Wall Street.

573
00:26:40,504 --> 00:26:43,064
Why aren't we asking Wall Street
to clean up its own mess?

574
00:26:43,107 --> 00:26:46,565
Why aren't we helping
American families faced with bankruptcy?

575
00:26:46,610 --> 00:26:49,704
Why aren't we reducing debts
from Main Street instead of Wall Street?

576
00:26:49,747 --> 00:26:51,578
ls this the United States Congress

577
00:26:51,615 --> 00:26:53,810
or the board of directors
of Goldman Sachs?

578
00:26:53,851 --> 00:26:56,615
Moore:
The night before the vote

579
00:26:56,654 --> 00:26:59,521
the American people
in unprecedented numbers

580
00:26:59,557 --> 00:27:02,583
flooded Capitol Hill
with millions of messages

581
00:27:02,626 --> 00:27:05,322
demanding that
Congress vote no.

582
00:27:08,799 --> 00:27:11,700
The bailout package
was defeated today,

583
00:27:11,735 --> 00:27:13,965
voted down in the House
of Representatives.

584
00:27:14,004 --> 00:27:15,699
The stock market plunged--

585
00:27:15,739 --> 00:27:18,401
plunged to the single
greatest point loss

586
00:27:18,442 --> 00:27:20,740
in the Dow average
in one day ever.

587
00:27:20,778 --> 00:27:22,370
The question is this:

588
00:27:22,413 --> 00:27:24,779
is the failure of
the bailout reason enough

589
00:27:24,815 --> 00:27:28,012
to vote all the incumbents
out of office in five weeks?

590
00:27:28,052 --> 00:27:29,917
1 2 votes killed it.

591
00:27:29,954 --> 00:27:32,149
So did the voices of a lot
of the American people

592
00:27:32,189 --> 00:27:35,522
who called their representatives
and said no.

593
00:27:35,559 --> 00:27:37,925
Then Congress voted no.

594
00:27:37,962 --> 00:27:39,930
Tonight Congress
has left town.

595
00:27:39,964 --> 00:27:42,831
Moore: lt was a rebuke that Congress
and Wall Street

596
00:27:42,866 --> 00:27:45,664
had rarely,
if ever, experienced.

597
00:27:45,703 --> 00:27:48,797
lt was what the Citibank
memo had warned against:

598
00:27:48,839 --> 00:27:50,602
That if the peasants
ever chose

599
00:27:50,641 --> 00:27:52,768
to exercise their
democratic rights,

600
00:27:52,810 --> 00:27:55,802
the pillaging by the wealthy
would be over.

601
00:27:55,846 --> 00:27:59,976
So Paulson and company headed
back up to Capitol Hill.

602
00:28:00,017 --> 00:28:03,316
And faster than you can say
''Check, please,''

603
00:28:03,354 --> 00:28:07,120
they cut a backroom deal
with the help of the Democrats.

604
00:28:08,859 --> 00:28:10,349
This issue supersedes
an election.

605
00:28:10,394 --> 00:28:12,294
We need to get this right.
We need to do it quickly.

606
00:28:12,329 --> 00:28:13,762
l agree with the secretary.

607
00:28:13,797 --> 00:28:16,231
lt's not gonna openly cost
all these hundreds of billions.

608
00:28:16,267 --> 00:28:18,235
We will recover most of it,
maybe all of it.

609
00:28:18,269 --> 00:28:21,363
Kaptur:
The Democrats became

610
00:28:21,405 --> 00:28:24,932
the delivery man
for a bill

611
00:28:24,975 --> 00:28:27,307
for the Republican
president.

612
00:28:27,344 --> 00:28:30,836
The presidents and presidents-
to-be made phone calls

613
00:28:30,881 --> 00:28:34,009
and members-- l know
at least two members

614
00:28:34,051 --> 00:28:36,451
who have an interest
in the US Senate,

615
00:28:36,487 --> 00:28:37,681
and promises were made.

616
00:28:39,089 --> 00:28:41,284
Moore:
Within days, the Congress

617
00:28:41,325 --> 00:28:43,316
did an amazing about-face

618
00:28:43,360 --> 00:28:47,421
and gave the banks the 700-plus
billion they wanted,

619
00:28:47,464 --> 00:28:49,329
the people be damned.

620
00:28:49,366 --> 00:28:52,301
On this vote
the yeas are 263,

621
00:28:52,336 --> 00:28:55,635
the nays are 17 1.
The motion is adopted.

622
00:28:55,673 --> 00:29:00,007
lt was very carefully planned
to happen when it did,

623
00:29:00,044 --> 00:29:04,071
to involve the players
that it did.

624
00:29:04,114 --> 00:29:08,107
The message was carefully handled.

625
00:29:08,152 --> 00:29:10,177
They had Congress right where
they wanted them.

626
00:29:10,220 --> 00:29:13,348
You don't think it
was just happenstance?

627
00:29:13,390 --> 00:29:15,221
No.

628
00:29:15,259 --> 00:29:18,820
This was almost like
an intelligence operation

629
00:29:18,862 --> 00:29:22,229
that had to be coordinated
at the highest levels.

630
00:29:22,266 --> 00:29:24,826
This whole fiasco
shows you

631
00:29:24,868 --> 00:29:29,567
that there are
some forces--

632
00:29:29,606 --> 00:29:32,200
That are not democratic.

633
00:29:32,242 --> 00:29:34,107
Right.
That are in control.

634
00:29:34,144 --> 00:29:36,908
Big time.

635
00:29:36,947 --> 00:29:40,007
They did a masterful job.
Very well executed.

636
00:29:42,720 --> 00:29:43,948
Do you think it's too harsh

637
00:29:43,987 --> 00:29:47,388
to call what has happened
here a coup d'�tat?

638
00:29:47,424 --> 00:29:48,982
A financial coup d'�tat?

639
00:29:49,026 --> 00:29:52,154
No, because l think
that's what's happened.

640
00:29:52,196 --> 00:29:55,461
- A financial coup d'�tat?
- Yeah.

641
00:29:57,234 --> 00:29:58,826
l could agree with that.

642
00:30:00,170 --> 00:30:02,263
l could agree with that
because the people here

643
00:30:02,306 --> 00:30:04,240
really aren't in charge.

644
00:30:04,274 --> 00:30:06,765
Wall Street is in charge.

645
00:30:08,545 --> 00:30:10,570
Where's our money?

646
00:30:10,614 --> 00:30:13,014
l don't know.

647
00:30:13,050 --> 00:30:15,382
Reporter:
Citigroup is spending $50 million

648
00:30:15,419 --> 00:30:17,046
on a luxury corporate jet.

649
00:30:17,087 --> 00:30:19,647
You don't know?
But you're the person--

650
00:30:19,690 --> 00:30:22,682
you're in charge of--
they put you in charge to find out.

651
00:30:22,726 --> 00:30:24,421
Reporter:
Goldman Sachs has set aside

652
00:30:24,461 --> 00:30:26,827
6.8 billion for bonuses.

653
00:30:26,864 --> 00:30:30,197
But Treasury followed
a don't-ask-don't-tell policy.

654
00:30:30,234 --> 00:30:32,464
They didn't ask the banks

655
00:30:32,503 --> 00:30:34,733
what they were going to do
with the money.

656
00:30:34,772 --> 00:30:38,367
And not having asked them,
the banks are not required to tell.

657
00:30:38,409 --> 00:30:41,071
AlG poolside meetings
at a Valley resort...

658
00:30:41,111 --> 00:30:42,305
Doesn't make any sense.

659
00:30:42,346 --> 00:30:45,042
We're getting word
that 73 people

660
00:30:45,082 --> 00:30:48,017
received at least
$1 million apiece.

661
00:30:48,051 --> 00:30:50,178
Why would the Department
of Treasury

662
00:30:50,220 --> 00:30:52,381
not require the banks
to tell them

663
00:30:52,423 --> 00:30:54,015
what they're doing
with our money?

664
00:30:54,057 --> 00:30:57,754
You're going to have
to ask Secretary Paulson that question.

665
00:30:57,795 --> 00:31:00,628
Because l've asked
that question

666
00:31:00,664 --> 00:31:03,895
in my role as head of the Congressional
Oversight Panel,

667
00:31:03,934 --> 00:31:06,027
and so far l haven't gotten an answer.
Maybe you'll get a better one.

668
00:31:06,069 --> 00:31:08,264
( phone ringing )

669
00:31:08,305 --> 00:31:10,273
Woman: Good afternoon.
Hank Paulson's office.

670
00:31:10,307 --> 00:31:11,831
Yeah, this is Michael Moore.

671
00:31:11,875 --> 00:31:13,604
l'd like to talk
to Mr. Paulson.

672
00:31:13,644 --> 00:31:15,703
- l'm sorry. Your name again?
- Michael Moore.

673
00:31:15,746 --> 00:31:17,304
- Michael Moore?
- Yup.

674
00:31:17,347 --> 00:31:20,544
- ( hangs up )
- Hello? Hello?

675
00:31:20,584 --> 00:31:23,382
This is crazy what they're doing
with our money.

676
00:31:23,420 --> 00:31:26,184
lf l could get them
to actually give the money back--

677
00:31:26,223 --> 00:31:27,958
l'd be in favor of that.

678
00:31:45,843 --> 00:31:48,277
We're here to get the money
back for the American people.

679
00:31:48,312 --> 00:31:50,143
l understand, sir,
but you can't come in.

680
00:31:50,180 --> 00:31:51,613
- Can you just take the bag?
- No.

681
00:31:51,648 --> 00:31:53,206
- Take it up there?
- Absolutely not.

682
00:31:53,250 --> 00:31:55,184
Fill it up.
l got more bags.

683
00:31:55,219 --> 00:31:57,016
10 billion probably
won't fit in here.

684
00:31:57,054 --> 00:31:58,214
You can't help me
get the money?

685
00:31:58,255 --> 00:31:59,415
l can't help you
get the money.

686
00:31:59,456 --> 00:32:01,651
What would happen if l made
a run for it right now?

687
00:32:03,794 --> 00:32:06,354
Moore:
So l went to another bank.

688
00:32:07,564 --> 00:32:08,622
We want our money back.

689
00:32:08,665 --> 00:32:10,223
l went to all the banks.

690
00:32:10,267 --> 00:32:12,531
- You've seen this guy?
- Yeah.

691
00:32:12,569 --> 00:32:14,901
Okay, we're here to make
a citizen's arrest, actually.

692
00:32:14,938 --> 00:32:17,338
Just drop it
from the windows.

693
00:32:17,374 --> 00:32:19,934
And everywhere l went...

694
00:32:21,678 --> 00:32:22,975
l got the same reaction.

695
00:32:23,013 --> 00:32:25,174
We're actually here
to make a citizen's arrest

696
00:32:25,215 --> 00:32:26,705
of the entire board
of directors

697
00:32:26,750 --> 00:32:27,876
and the executives here.

698
00:32:27,918 --> 00:32:29,283
Why don't you speak
to my supervisor?

699
00:32:29,319 --> 00:32:31,150
- That's him right here.
- Where's he at?

700
00:32:31,188 --> 00:32:32,985
- ln the white shirt? Blue tie?
- Yup.

701
00:32:33,023 --> 00:32:34,388
- That's him.
- Receding hairline?

702
00:32:34,424 --> 00:32:37,985
They're using the money
to buy other companies.

703
00:32:38,028 --> 00:32:40,690
This is our money.

704
00:32:40,731 --> 00:32:42,756
Oh, this is
a police officer.

705
00:32:42,799 --> 00:32:44,926
l wanted to make a citizen's
arrest of the CEO.

706
00:32:44,968 --> 00:32:47,163
- Mr. Blankfein.
- ( chuckles )

707
00:32:47,204 --> 00:32:49,968
But you're here, so maybe
you could help me.

708
00:32:50,007 --> 00:32:53,465
- Let's do it outside.
- $170 billion of our taxpayer money.

709
00:32:53,510 --> 00:32:56,741
- You're not allowed in the building, sir.
- But l'm here to make an arrest.

710
00:32:56,780 --> 00:32:59,180
- l'm here to make an arrest.
- Make it outside, sir.

711
00:32:59,216 --> 00:33:00,649
l can't make it outside.
They're upstairs.

712
00:33:00,684 --> 00:33:02,584
l'll make an arrest, sir.

713
00:33:02,619 --> 00:33:04,280
You can arrest somebody?

714
00:33:04,321 --> 00:33:06,118
lf you can arrest somebody,
l can arrest somebody.

715
00:33:06,156 --> 00:33:07,555
Sir, leave the building, sir.

716
00:33:07,591 --> 00:33:08,956
Who else do you want
to leave the building?

717
00:33:08,992 --> 00:33:10,789
Your cameraman and your crew.
Come on out, sir.

718
00:33:10,827 --> 00:33:13,694
They don't speak English.
Donde?

719
00:33:15,332 --> 00:33:17,994
These guys have broken
so many laws, you know?

720
00:33:18,035 --> 00:33:21,630
This is money.
lt's theft, it's fraud.

721
00:33:31,148 --> 00:33:33,548
l'm gonna take it back
to the US Treasury

722
00:33:33,584 --> 00:33:35,381
right in this car.

723
00:33:35,419 --> 00:33:38,047
lt's safe.
You can trust me.

724
00:33:39,623 --> 00:33:41,325
( grunts )

725
00:33:41,491 --> 00:33:44,790
There's just these little hints

726
00:33:44,828 --> 00:33:49,265
that the unimaginable

727
00:33:49,299 --> 00:33:53,929
could occur, which is that...

728
00:33:56,373 --> 00:33:59,467
people in general

729
00:33:59,509 --> 00:34:02,137
in the United States
could actually

730
00:34:02,179 --> 00:34:05,580
become angry

731
00:34:05,616 --> 00:34:07,516
at the wealthy.

732
00:34:07,551 --> 00:34:11,043
Shame on you!
Shame on you!

733
00:34:11,088 --> 00:34:13,249
Shawn:
People who became rich in this country

734
00:34:13,290 --> 00:34:17,386
in the last decades
were not even making

735
00:34:17,427 --> 00:34:21,261
the things
that everybody loved.

736
00:34:21,298 --> 00:34:24,699
They were playing games

737
00:34:24,735 --> 00:34:27,135
that ended up actually
harming everybody.

738
00:34:27,170 --> 00:34:30,901
( chanting )

739
00:34:30,941 --> 00:34:35,435
So some kind of disease
has entered into the economy.

740
00:34:37,047 --> 00:34:40,710
Moore: lt was unusual for Americans
to turn against the rich

741
00:34:40,751 --> 00:34:43,982
because of the carrot that had
always been held out in front of us,

742
00:34:44,021 --> 00:34:47,218
that we too could be
one of them someday.

743
00:34:47,257 --> 00:34:50,021
People were starting not to believe that.

744
00:34:50,060 --> 00:34:52,756
And that frightened the rich.

745
00:34:52,796 --> 00:34:56,892
Because off in the distance
they heard something coming

746
00:34:56,933 --> 00:34:59,595
and it wasn't another dry martini.

747
00:34:59,636 --> 00:35:02,400
lt was the friggin' people.

748
00:35:04,307 --> 00:35:06,673
We are ready to take this country

749
00:35:06,710 --> 00:35:08,871
in a fundamentally new direction.

750
00:35:08,912 --> 00:35:11,506
That's what's happening
in America right now.

751
00:35:11,548 --> 00:35:15,211
Change is what's happening
in America.

752
00:35:15,252 --> 00:35:16,913
Moore:
Holy shit.

753
00:35:16,953 --> 00:35:19,945
This was not
what Wall Street wanted.

754
00:35:19,990 --> 00:35:22,481
What if he won?

755
00:35:22,526 --> 00:35:25,359
What would happen
to their way of life?

756
00:35:27,197 --> 00:35:29,631
So they did what they always do.

757
00:35:29,666 --> 00:35:31,827
They threw as much money
at him as they could.

758
00:35:33,537 --> 00:35:36,973
Goldman Sachs became his
number-one private contributor

759
00:35:37,007 --> 00:35:39,840
with nearly $1 million in contributions.

760
00:35:41,678 --> 00:35:45,273
But yet they still weren't sure
what he would do.

761
00:35:45,315 --> 00:35:48,216
How did he really feel about them

762
00:35:48,251 --> 00:35:50,721
and their way of life?

763
00:35:50,721 --> 00:35:54,623
My attitude is that if the economy
is good for folks from the bottom up,

764
00:35:54,658 --> 00:35:55,818
it's gonna be good for everybody.

765
00:35:58,929 --> 00:36:01,022
Senator Obama is running
to spread the wealth.

766
00:36:01,064 --> 00:36:03,498
Joe the Plumber said to him

767
00:36:03,533 --> 00:36:06,127
that plan sounded like socialism.

768
00:36:06,169 --> 00:36:08,569
( Russian music playing )

769
00:36:09,740 --> 00:36:11,264
Joe:
l love America.

770
00:36:11,308 --> 00:36:15,108
l want to make sure it stays a democracy
and not a socialist society.

771
00:36:18,448 --> 00:36:21,849
l really think he's gonna bring socialism
if he gets half a chance.

772
00:36:21,885 --> 00:36:24,615
l don't trust Obama at all.

773
00:36:26,223 --> 00:36:28,191
l left Europe four decades ago

774
00:36:28,225 --> 00:36:30,489
because socialism has killed
opportunities there.

775
00:36:30,527 --> 00:36:34,224
''Someone is going to have to
give up a piece of their pie

776
00:36:34,264 --> 00:36:36,494
so someone else can have more.''

777
00:36:36,533 --> 00:36:37,864
l want all my pie.

778
00:36:39,336 --> 00:36:42,237
Barack Obama is a socialist,
it's that simple.

779
00:36:46,076 --> 00:36:48,909
Moore:
The scare campaign wasn't working.

780
00:36:48,945 --> 00:36:52,574
ln fact, the more they called
Obama a socialist,

781
00:36:52,616 --> 00:36:55,676
the more he went ahead in the polls.

782
00:36:55,719 --> 00:36:58,415
And by using the word so much,

783
00:36:58,455 --> 00:37:02,721
it made a new generation curious
about what that was.

784
00:37:02,759 --> 00:37:05,387
For instance, few of them knew

785
00:37:05,428 --> 00:37:08,124
there was actually a socialist
in the United States Senate.

786
00:37:08,165 --> 00:37:11,396
Of course he was from
the gay state of Vermont.

787
00:37:11,434 --> 00:37:12,799
( moos )

788
00:37:12,836 --> 00:37:14,531
You say that you're a socialist.
Tell me what that means.

789
00:37:14,571 --> 00:37:16,436
l'm a democratic socialist,

790
00:37:16,473 --> 00:37:19,203
which means that the function
of government is to represent

791
00:37:19,242 --> 00:37:20,675
middle income and working people

792
00:37:20,710 --> 00:37:23,076
rather than just the wealthy
and the powerful.

793
00:37:23,113 --> 00:37:24,978
One of the things that we've done here,

794
00:37:25,015 --> 00:37:27,813
we've become very religious
in worshipping greed.

795
00:37:27,851 --> 00:37:30,183
We put on the front pages
of the magazines

796
00:37:30,220 --> 00:37:31,812
guys who have made
billions of dollars.

797
00:37:31,855 --> 00:37:34,483
We ignore the cops, the firemen,
the teachers, the nurses

798
00:37:34,524 --> 00:37:37,721
who every day are doing so much
in improving the lives of people.

799
00:37:37,761 --> 00:37:39,160
We've got to change our value system.

800
00:37:39,196 --> 00:37:41,960
Moore:
Hmm, that doesn't sound too bad.

801
00:37:41,998 --> 00:37:46,059
l mean, it sounds like something
maybe we should try.

802
00:37:46,102 --> 00:37:47,797
Within a few months,

803
00:37:47,838 --> 00:37:49,897
the Rasmussen poll reported

804
00:37:49,940 --> 00:37:52,534
that only 37% of young adults

805
00:37:52,576 --> 00:37:55,374
now favor capitalism over socialism.

806
00:37:55,412 --> 00:37:58,745
l hope the economy will...

807
00:37:58,782 --> 00:38:01,012
( people cheering )

808
00:38:01,051 --> 00:38:03,952
At 11 :00 we project Barack Obama

809
00:38:03,987 --> 00:38:06,615
President-Elect
of the United States of America.

810
00:38:06,656 --> 00:38:09,250
( cheering )

811
00:38:40,323 --> 00:38:42,757
Moore:
Just two years earlier

812
00:38:42,792 --> 00:38:44,987
had anyone predicted
this moment,

813
00:38:45,028 --> 00:38:47,588
they would have been
considered crazy.

814
00:38:48,865 --> 00:38:50,958
But that's how fast
things change.

815
00:38:53,637 --> 00:38:56,128
lt was in an instant

816
00:38:56,172 --> 00:38:59,801
a farewell to the old America.

817
00:39:02,812 --> 00:39:06,441
The country
was electrified by his victory.

818
00:39:06,483 --> 00:39:09,316
And suddenly people
were inspired

819
00:39:09,352 --> 00:39:12,222
to do things they never
would have done before.

820
00:39:13,123 --> 00:39:14,852
Like the sheriff in Detroit

821
00:39:14,891 --> 00:39:17,689
who decided it was time
to break the law

822
00:39:17,727 --> 00:39:19,820
in order to help the people.

823
00:39:19,863 --> 00:39:21,888
Warren Evans:
Doesn't it seem kind of strange to you

824
00:39:21,932 --> 00:39:25,197
they would seek a government bailout?
l thought that's not what they do.

825
00:39:25,235 --> 00:39:28,329
1-0-1 radio.

826
00:39:28,371 --> 00:39:31,932
l thought the free market
is you sink or swim.

827
00:39:31,975 --> 00:39:35,376
l just saw them sink
and cry like babies

828
00:39:35,412 --> 00:39:37,972
for assistance from everybody else.

829
00:39:39,149 --> 00:39:43,279
Today l will be stopping
all mortgage foreclosure sales

830
00:39:43,320 --> 00:39:44,981
in Wayne County.

831
00:39:45,021 --> 00:39:48,650
l cannot in clear conscience
allow anymore families

832
00:39:48,692 --> 00:39:51,217
to lose their homes
through foreclosure sales.

833
00:39:51,261 --> 00:39:54,025
Moore:
What must the banks have thought

834
00:39:54,064 --> 00:39:57,124
seeing the law that was set up
to protect their interests

835
00:39:57,167 --> 00:39:58,896
being subverted?

836
00:39:58,935 --> 00:40:01,927
Do you think the free market
has failed Detroit?

837
00:40:01,972 --> 00:40:05,203
Well, l mean, l think that the free market
failed the country.

838
00:40:05,241 --> 00:40:07,510
You know, this is crazy.

839
00:40:07,510 --> 00:40:09,478
Neighborhoods that are
completely destroyed

840
00:40:09,512 --> 00:40:11,844
because too many homes
have been foreclosed.

841
00:40:11,881 --> 00:40:14,941
And then you wonder,
is this really America

842
00:40:14,985 --> 00:40:17,044
or is this a third-world country?

843
00:40:17,087 --> 00:40:18,577
Exactly what are we doing here?

844
00:40:18,621 --> 00:40:22,751
Until things get so bad that people
can do nothing but protest,

845
00:40:22,792 --> 00:40:24,760
and then those
are called revolutions.

846
00:40:24,794 --> 00:40:28,787
Moore:
And sometimes revolutions begin

847
00:40:28,832 --> 00:40:30,060
in unlikely places.

848
00:40:30,100 --> 00:40:31,965
Wake up.

849
00:40:32,002 --> 00:40:33,663
Moore:
Living in the back of a truck

850
00:40:33,703 --> 00:40:37,901
after a bank foreclosed on
the home they had owned for 22 years,

851
00:40:37,941 --> 00:40:41,342
the Trody family of Miami,
with the help of their neighbors,

852
00:40:41,378 --> 00:40:43,812
took matters into their own hands.

853
00:40:43,847 --> 00:40:46,839
On behalf of this family
and this community,

854
00:40:46,883 --> 00:40:50,319
we liberate this home for this family.

855
00:40:50,353 --> 00:40:52,253
Cut the sign down.
Take it off.

856
00:40:52,288 --> 00:40:54,552
- ( applause )
- Yay!

857
00:40:54,591 --> 00:40:57,321
When l say community,
y'all say power.

858
00:40:57,360 --> 00:40:58,657
- Community!
- Power!

859
00:40:58,695 --> 00:40:59,753
- Community!
- Power!

860
00:40:59,796 --> 00:41:01,093
- Community!
- Power!

861
00:41:01,131 --> 00:41:02,655
- Community!
- Power!

862
00:41:02,699 --> 00:41:04,496
- Community!
- Power!

863
00:41:04,534 --> 00:41:06,900
Moore: lt wasn't long
before the guy from the bank

864
00:41:06,936 --> 00:41:09,131
who had evicted them came back.

865
00:41:09,172 --> 00:41:10,901
See this?

866
00:41:10,940 --> 00:41:12,601
l want you to go ahead
and take a picture of that.

867
00:41:12,642 --> 00:41:15,042
You're trespassing.

868
00:41:15,078 --> 00:41:17,603
We did an eviction here and the people
went back inside the property.

869
00:41:17,647 --> 00:41:20,309
Yes.
So l need police assistance.

870
00:41:20,350 --> 00:41:21,908
When all these houses are empty

871
00:41:21,951 --> 00:41:24,351
the value of everybody
else's house goes down.

872
00:41:24,387 --> 00:41:27,481
So if you can keep
these people in this house

873
00:41:27,524 --> 00:41:29,754
that will help not only them...

874
00:41:29,793 --> 00:41:32,762
So you see, the situation is that
the people--

875
00:41:32,796 --> 00:41:34,787
if the bank lets them go back inside,

876
00:41:34,831 --> 00:41:38,323
then the bank misses the opportunity
to sell the house to somebody else.

877
00:41:38,368 --> 00:41:40,996
The banks are selling
so many houses right now.

878
00:41:41,037 --> 00:41:44,529
Well, if the bank lets everybody
get back inside the house for free--

879
00:41:44,574 --> 00:41:46,508
Then people will have places to live.

880
00:41:46,543 --> 00:41:49,273
Moore: People fighting back
was an unusual sight.

881
00:41:49,312 --> 00:41:52,338
So nine police cars
responded to the call.

882
00:41:52,382 --> 00:41:54,373
Considering the neighborhood,

883
00:41:54,417 --> 00:41:56,647
the response time
was impressive.

884
00:41:56,686 --> 00:41:58,586
- You are not in charge.
- l'm not saying l'm in charge.

885
00:41:58,621 --> 00:42:01,112
l'm saying she doesn't want to be isolated.
You don't have to answer any questions.

886
00:42:01,157 --> 00:42:03,352
You don't have to say
anything to them, okay?

887
00:42:03,393 --> 00:42:05,293
Moore:
But the Trodys stood their ground.

888
00:42:05,328 --> 00:42:07,922
We don't have nowhere else to go.

889
00:42:07,964 --> 00:42:10,865
- This was the backup plan.
- We're forced to live inside of a truck.

890
00:42:10,900 --> 00:42:13,869
This was our plan B.
We don't have no plan C.

891
00:42:13,903 --> 00:42:16,371
That is our grandma and it's not right.

892
00:42:16,406 --> 00:42:18,897
She's been in this house for 22 years
and y'all gonna put her out?

893
00:42:18,942 --> 00:42:20,933
How do you feel putting people
out of their homes

894
00:42:20,977 --> 00:42:23,104
every single frickin' day?

895
00:42:23,146 --> 00:42:25,546
You should rather be home
instead of do something like that.

896
00:42:25,582 --> 00:42:28,915
Where is the money the federal
government put in the bank?

897
00:42:28,952 --> 00:42:32,911
We should be telling you that you're
trespassing because this is our house.

898
00:42:32,956 --> 00:42:35,481
( crowd yelling )

899
00:42:39,262 --> 00:42:42,561
"" Rooted like a tree,
rooted like a tree ""

900
00:42:42,599 --> 00:42:45,090
"" We are here ""

901
00:42:45,135 --> 00:42:48,104
"" Stand up strong... ""

902
00:42:48,138 --> 00:42:50,698
Let's go.

903
00:42:50,740 --> 00:42:52,765
- We did good. We did good.
- All right.

904
00:42:52,809 --> 00:42:56,108
Moore: The police and the man
from the bank were sent packing.

905
00:42:56,146 --> 00:42:58,341
Ain't no power
like the power of the people.

906
00:42:58,381 --> 00:43:00,645
And the power of the people don't stop.
Say what?

907
00:43:00,683 --> 00:43:03,311
Ain't no power
like the power of the people.

908
00:43:03,353 --> 00:43:05,913
And the power of the people don't stop.
Say what?

909
00:43:05,955 --> 00:43:08,617
Don't leave your home.

910
00:43:08,658 --> 00:43:10,023
Because you know what?

911
00:43:10,059 --> 00:43:12,323
When those companies say
they have your mortgage,

912
00:43:12,362 --> 00:43:15,297
unless you have a lawyer
that can put his finger

913
00:43:15,331 --> 00:43:17,822
or her finger on that mortgage,
you don't have that mortgage.

914
00:43:17,867 --> 00:43:21,826
And you're gonna find that they can't find
the paper up there on Wall Street.

915
00:43:21,871 --> 00:43:25,864
So l say to the American people,
you be squatters in your own homes.

916
00:43:25,909 --> 00:43:28,434
Don't you leave
in Ohio and Michigan,

917
00:43:28,478 --> 00:43:30,639
in lndiana and lllinois
and all these other places

918
00:43:30,680 --> 00:43:32,773
where our people are being
treated like chattel.

919
00:43:32,815 --> 00:43:35,978
And this Congress is stymied.

920
00:43:36,019 --> 00:43:37,316
Moore: Wow.

921
00:43:37,353 --> 00:43:40,151
lt's not every day you get
to see a member of Congress

922
00:43:40,190 --> 00:43:42,926
encouraging open rebellion.

923
00:43:42,926 --> 00:43:45,156
Back in Chicago,

924
00:43:45,195 --> 00:43:47,561
the workers at Republic
Windows & Doors

925
00:43:47,597 --> 00:43:48,859
had a bright idea.

926
00:43:50,500 --> 00:43:52,832
They decided
that on second thought,

927
00:43:52,869 --> 00:43:56,066
it wasn't okay to be fired
without notice,

928
00:43:56,105 --> 00:43:59,199
to be denied their vacation
and severance pay

929
00:43:59,242 --> 00:44:02,268
and to have their
medical benefits cut off.

930
00:44:04,380 --> 00:44:07,076
So they came up with a plan.

931
00:44:07,116 --> 00:44:10,051
Tell Bank of America
and the owners of the company

932
00:44:10,086 --> 00:44:12,577
that it was a new day in America.

933
00:44:12,622 --> 00:44:14,556
They weren't going
to leave the building

934
00:44:14,591 --> 00:44:17,890
until they were paid
what they were owed.

935
00:44:17,927 --> 00:44:21,886
Yes, it was a good old fashioned
sit-down strike.

936
00:44:24,667 --> 00:44:26,965
Man:
We understand that perhaps

937
00:44:27,003 --> 00:44:30,268
some bad business deals
were made.

938
00:44:30,306 --> 00:44:33,537
But guess what?
We don't make business deals.

939
00:44:33,576 --> 00:44:35,840
We make windows and doors.

940
00:44:35,878 --> 00:44:37,812
Why should we be punished?

941
00:44:50,360 --> 00:44:52,692
Moore: The union organizers
and the workers

942
00:44:52,729 --> 00:44:56,426
prepared for a police assault
that was sure to come.

943
00:44:56,466 --> 00:44:59,094
l'm gonna take the chance.

944
00:44:59,135 --> 00:45:01,035
You're prepared to be arrested?

945
00:45:01,070 --> 00:45:03,300
l am prepared to be arrested
if it's necessary.

946
00:45:03,339 --> 00:45:07,298
We've been here since yesterday
and we aren't going anywhere.

947
00:45:07,343 --> 00:45:09,174
We are committed to this.

948
00:45:09,212 --> 00:45:11,544
Moore:
lt wasn't long before the media showed up.

949
00:45:11,581 --> 00:45:14,482
And given the mood of the country
toward the bailout,

950
00:45:14,517 --> 00:45:18,476
even the TV anchors had run out
of sympathy for the banks.

951
00:45:18,521 --> 00:45:22,252
ln Chicago, a group of factory workers
watched like the rest of us

952
00:45:22,292 --> 00:45:24,920
as taxpayers bailed out
the financial industry.

953
00:45:24,961 --> 00:45:28,226
Now these laid-off workers
are demanding Bank of America

954
00:45:28,264 --> 00:45:30,960
spend some of its
bailout money on them.

955
00:45:31,000 --> 00:45:33,093
lt says ''Bank Robbers of America.''

956
00:45:33,136 --> 00:45:36,299
Look, if we the taxpayers
are going to provide

957
00:45:36,339 --> 00:45:39,331
a bailout for companies
like Bank of America,

958
00:45:39,375 --> 00:45:42,242
then the least they can do
is use those funds

959
00:45:42,278 --> 00:45:44,769
on American workers
and companies.

960
00:45:44,814 --> 00:45:47,942
Woman:
$25 billion to Bank of America.

961
00:45:47,984 --> 00:45:50,350
How do people sleep at night
when they act like that?

962
00:45:50,386 --> 00:45:51,978
l don't get it.

963
00:45:52,021 --> 00:45:53,921
Because what's the point
of bailing them out

964
00:45:53,956 --> 00:45:56,618
if there aren't any jobs?

965
00:45:56,659 --> 00:45:59,184
Moore:
The strike went on day after day.

966
00:45:59,228 --> 00:46:01,992
The police had not yet come.

967
00:46:02,031 --> 00:46:04,829
But the son of a Chicago
steelworker did.

968
00:46:04,867 --> 00:46:09,031
He just also happened to be
the bishop in Chicago.

969
00:46:09,072 --> 00:46:11,063
Ladies and gentlemen,

970
00:46:11,107 --> 00:46:13,302
l am Bishop James Wilkowski.

971
00:46:13,343 --> 00:46:16,540
l know that you are all undergoing

972
00:46:16,579 --> 00:46:18,604
a great trial.

973
00:46:18,648 --> 00:46:21,378
You are teaching

974
00:46:21,417 --> 00:46:23,783
to our young people

975
00:46:23,820 --> 00:46:25,845
that it is just

976
00:46:25,888 --> 00:46:29,449
to challenge
that which is unfair.

977
00:46:30,493 --> 00:46:34,589
l grew up on the far southeast
side of Chicago

978
00:46:34,630 --> 00:46:36,359
and l saw what happened

979
00:46:36,399 --> 00:46:39,732
when all the steel mills
disappeared.

980
00:46:39,769 --> 00:46:42,636
And l saw the impact that it had

981
00:46:42,672 --> 00:46:44,435
on families.

982
00:46:44,474 --> 00:46:46,374
But this time

983
00:46:46,409 --> 00:46:48,468
we are with you.

984
00:46:48,511 --> 00:46:51,446
And we will not abandon you.

985
00:46:51,481 --> 00:46:53,472
ln the name of the Father
and the Son

986
00:46:53,516 --> 00:46:55,143
and the Holy Spirit.
Amen.

987
00:46:55,184 --> 00:46:57,152
The body of Christ.

988
00:46:59,455 --> 00:47:01,082
The body of Christ.

989
00:47:03,626 --> 00:47:05,150
The body of Christ.

990
00:47:07,497 --> 00:47:10,295
President Obama:
When it comes to the situation

991
00:47:10,333 --> 00:47:13,734
here in Chicago
with the workers

992
00:47:13,770 --> 00:47:17,638
who are asking for the benefits
and payments

993
00:47:17,673 --> 00:47:20,369
that they have earned,
l think they're absolutely right.

994
00:47:20,410 --> 00:47:23,937
( cheering )

995
00:47:23,980 --> 00:47:27,245
What's happening to them
is reflective of what's happening

996
00:47:27,283 --> 00:47:29,251
across this economy.

997
00:47:29,285 --> 00:47:31,913
Reporter: He said, ''What's happening to
them is reflective of what's happening...''

998
00:47:31,954 --> 00:47:33,888
Reporter #2: He said what is
happening to those workers

999
00:47:33,923 --> 00:47:36,517
is reflective to what's happening
across this economy.

1000
00:47:36,559 --> 00:47:39,426
l was watching Obama's press
conference this morning.

1001
00:47:39,462 --> 00:47:41,760
l just got out of bed and decided

1002
00:47:41,798 --> 00:47:44,528
the best thing l could do
was to feed people.

1003
00:47:44,567 --> 00:47:46,057
So l brought some food.

1004
00:47:46,102 --> 00:47:48,400
- l brought some sandwiches.
- Oh, good.

1005
00:47:48,438 --> 00:47:52,238
Moore: ln fact, lots of Chicagoans
showed up to support the workers.

1006
00:47:52,275 --> 00:47:53,833
Reporter: The workers have become
a national symbol

1007
00:47:53,876 --> 00:47:55,901
for thousands of employees
laid off across the country.

1008
00:47:55,945 --> 00:47:58,175
Reporter #2: The sit-in has grabbed
the attention of politicians

1009
00:47:58,214 --> 00:48:01,843
who believe it exemplifies an imbalance
between a Wall Street

1010
00:48:01,884 --> 00:48:05,684
that gets government help
and a Main Street that gets the shaft.

1011
00:48:05,721 --> 00:48:07,712
Moore:
The question started to be asked:

1012
00:48:07,757 --> 00:48:10,225
Was this is the beginnings of a worker's
revolt against Wall Street?

1013
00:48:12,829 --> 00:48:14,956
The people united.

1014
00:48:14,997 --> 00:48:17,056
We'll never be defeated.

1015
00:48:17,099 --> 00:48:20,933
Bail out workers, not the banks.
Bail out workers, not the banks.

1016
00:48:20,970 --> 00:48:25,304
Moore: Pledges of financial support
and food showed up by the truckload.

1017
00:48:25,341 --> 00:48:28,708
Woman: lt's really beyond
what we had at first initially imagined.

1018
00:48:28,744 --> 00:48:31,542
And so now we're dreaming a little bit.

1019
00:48:31,581 --> 00:48:34,573
We even had a conversation--
well, what if we just tried

1020
00:48:34,617 --> 00:48:36,346
to run the factory like a cooperative?

1021
00:48:36,385 --> 00:48:38,410
We don't have any money.
We're not capitalists.

1022
00:48:38,454 --> 00:48:41,548
We're having those kind
of conversations

1023
00:48:41,591 --> 00:48:44,321
and the workers are thinking about it
and it's a difficult thing

1024
00:48:44,360 --> 00:48:46,624
'cause, you know, if you've been
told your whole life

1025
00:48:46,662 --> 00:48:49,961
that things are the way
other people tell you they are,

1026
00:48:49,999 --> 00:48:51,990
to be able to think
l can make it different

1027
00:48:52,034 --> 00:48:55,128
is quite a big deal.

1028
00:48:57,340 --> 00:49:00,002
We're all over the national news.
Everyone is watching you

1029
00:49:00,042 --> 00:49:03,375
because they're so inspired by you.
( speaks Spanish )

1030
00:49:06,048 --> 00:49:07,879
Moore:
After six days of the sit-in

1031
00:49:07,917 --> 00:49:11,148
Bank of America decided
enough was enough.

1032
00:49:11,187 --> 00:49:13,382
Better to pay off
these workers now

1033
00:49:13,422 --> 00:49:16,789
and hope their little
revolution goes away.

1034
00:49:16,826 --> 00:49:20,557
And so the bank and the company
agreed to all the worker's demands.

1035
00:49:20,596 --> 00:49:23,497
Yes we did!
Yes we did!

1036
00:49:23,533 --> 00:49:27,196
The average package for each worker

1037
00:49:27,236 --> 00:49:31,104
will be very close to $6,000.

1038
00:49:31,140 --> 00:49:34,371
But this is about more
than just money.

1039
00:49:34,410 --> 00:49:37,868
lt's about what can be achieved

1040
00:49:37,914 --> 00:49:41,907
when workers organize
and stand up for justice.

1041
00:49:41,951 --> 00:49:44,010
Just to fight--
fight fight fight fight fight

1042
00:49:44,053 --> 00:49:46,419
just to get the most basic thing

1043
00:49:46,455 --> 00:49:48,218
that people should take for granted

1044
00:49:48,257 --> 00:49:52,057
and that's legally theirs.

1045
00:49:52,094 --> 00:49:56,098
We just fight so hard just for
the most basic things in life.

1046
00:49:58,401 --> 00:50:01,529
Moore: lt's a fight we knew
all too well in Flint, Michigan.

1047
00:50:01,571 --> 00:50:04,938
For it was here that my uncle
and his fellow workers

1048
00:50:04,974 --> 00:50:07,704
first brought down the mighty
corporate interests

1049
00:50:07,743 --> 00:50:09,404
that dominated their lives.

1050
00:50:11,647 --> 00:50:15,048
lt was the day before
New Year's Eve in 1936.

1051
00:50:15,084 --> 00:50:18,520
Hundreds of men and women
took over the GM factories in Flint

1052
00:50:18,554 --> 00:50:20,886
and occupied them for 44 days.

1053
00:50:22,758 --> 00:50:26,125
They were the first union that beat
an industrial corporation.

1054
00:50:26,162 --> 00:50:28,460
And their actions eventually resulted

1055
00:50:28,497 --> 00:50:30,965
in the creation of a middle class.

1056
00:50:31,000 --> 00:50:34,128
But back in these days of the Flint
sit-down strike,

1057
00:50:34,170 --> 00:50:38,504
the police and the company thugs
were not going to just stand by.

1058
00:50:38,541 --> 00:50:42,136
After a bloody battle one evening,
the Governor of Michigan,

1059
00:50:42,178 --> 00:50:45,341
with the support of the President
of the United States

1060
00:50:45,381 --> 00:50:49,181
Franklin Roosevelt,
sent in the National Guard.

1061
00:50:49,218 --> 00:50:53,245
But the guns of the soldiers
weren't used on the workers.

1062
00:50:53,289 --> 00:50:54,950
They were pointed at the police

1063
00:50:54,991 --> 00:50:56,959
and the hired goons,

1064
00:50:56,993 --> 00:51:00,520
warning them to leave
these workers alone.

1065
00:51:01,664 --> 00:51:04,497
For Mr. Roosevelt believed
that the men inside

1066
00:51:04,533 --> 00:51:08,697
had a right to a redress
of their grievances.

1067
00:51:10,039 --> 00:51:13,270
Seven years later,
President Roosevelt was too sick

1068
00:51:13,309 --> 00:51:17,143
to go up to the Capitol and give his
annual State of the Union Address.

1069
00:51:17,179 --> 00:51:19,010
Ladies and gentlemen,

1070
00:51:19,048 --> 00:51:21,915
the President of the United States.

1071
00:51:21,951 --> 00:51:26,479
lt has been my custom to deliver
these annual messages in person.

1072
00:51:26,522 --> 00:51:29,548
Moore: So he gave it from
the White House over the radio.

1073
00:51:29,592 --> 00:51:32,652
When it was over he asked
the newsreel cameras

1074
00:51:32,695 --> 00:51:35,755
to step into his room because he
wanted the American people

1075
00:51:35,798 --> 00:51:39,427
to see one particular part
of his speech.

1076
00:51:39,468 --> 00:51:43,097
The President of the United States
then took the radical step

1077
00:51:43,139 --> 00:51:45,835
of proposing a second Bill of Rights

1078
00:51:45,875 --> 00:51:47,274
to the Constitution.

1079
00:51:47,309 --> 00:51:50,938
ln our day certain economic truths

1080
00:51:50,980 --> 00:51:54,177
have become accepted
as self-evident.

1081
00:51:54,216 --> 00:51:56,776
A second Bill of Rights

1082
00:51:56,819 --> 00:52:00,585
under which a new basis of security
and prosperity

1083
00:52:00,623 --> 00:52:02,887
can be established for all

1084
00:52:02,925 --> 00:52:06,622
regardless of station
or race or creed.

1085
00:52:06,662 --> 00:52:09,460
Among these are:

1086
00:52:09,498 --> 00:52:13,457
The right to a useful
and remunerative job;

1087
00:52:13,502 --> 00:52:16,960
The right to earn enough to provide
adequate food

1088
00:52:17,006 --> 00:52:18,564
and clothing and recreation;

1089
00:52:18,607 --> 00:52:21,132
The right of every farmer

1090
00:52:21,177 --> 00:52:23,611
to raise and sell his products

1091
00:52:23,646 --> 00:52:26,774
at a return which will
give him and his family

1092
00:52:26,816 --> 00:52:29,182
a decent living;

1093
00:52:29,218 --> 00:52:33,154
The right of every businessman
large and small

1094
00:52:33,189 --> 00:52:36,556
to trade in an atmosphere of freedom,

1095
00:52:36,592 --> 00:52:40,289
freedom from unfair competition
and domination

1096
00:52:40,329 --> 00:52:43,457
by monopolies at home or abroad;

1097
00:52:43,499 --> 00:52:46,957
The right of every family
to a decent home;

1098
00:52:47,002 --> 00:52:50,631
The right to adequate medical care

1099
00:52:50,673 --> 00:52:54,575
and the opportunity to achieve
and enjoy good health;

1100
00:52:54,610 --> 00:52:57,943
The right to adequate protection

1101
00:52:57,980 --> 00:53:01,381
from the economic fears
of old age,

1102
00:53:01,417 --> 00:53:03,908
sickness, accidents

1103
00:53:03,953 --> 00:53:05,784
and unemployment;

1104
00:53:05,821 --> 00:53:08,881
The right to a good education.

1105
00:53:08,924 --> 00:53:13,327
All of these rights spell security.

1106
00:53:13,362 --> 00:53:16,388
And after this war is won,

1107
00:53:16,432 --> 00:53:19,799
we must be prepared
to move forward

1108
00:53:19,835 --> 00:53:22,929
in the implementation
of these rights

1109
00:53:22,972 --> 00:53:26,738
to new goals of human happiness
and wellbeing.

1110
00:53:26,776 --> 00:53:31,270
For unless there is security
here at home,

1111
00:53:31,313 --> 00:53:36,148
there cannot be lasting peace
in the world.

1112
00:53:45,594 --> 00:53:48,893
Moore: Roosevelt would be dead
in little over a year.

1113
00:53:51,700 --> 00:53:55,033
He would not live to see
the end of the war.

1114
00:53:55,070 --> 00:53:58,904
Nor would there be any enactment
of his new Bill of Rights.

1115
00:54:06,382 --> 00:54:09,374
Had he lived and succeeded,

1116
00:54:09,418 --> 00:54:11,750
every American,
regardless of race,

1117
00:54:11,787 --> 00:54:14,915
would have had a right
to a decent job...

1118
00:54:17,860 --> 00:54:19,452
a livable wage...

1119
00:54:22,031 --> 00:54:23,430
universal health care...

1120
00:54:25,467 --> 00:54:27,196
a good education...

1121
00:54:29,638 --> 00:54:31,799
an affordable home...

1122
00:54:33,943 --> 00:54:36,207
a paid vacation...

1123
00:54:40,015 --> 00:54:42,643
and an adequate pension.

1124
00:54:45,487 --> 00:54:48,081
None of this would come to pass.

1125
00:54:50,159 --> 00:54:54,493
No American would be
guaranteed any of this.

1126
00:54:58,100 --> 00:55:00,728
But the people of Europe and Japan

1127
00:55:00,769 --> 00:55:03,465
got every one of these rights.

1128
00:55:03,505 --> 00:55:06,167
How did that happen?

1129
00:55:06,208 --> 00:55:10,941
After the war, the people
of Roosevelt's administration

1130
00:55:10,980 --> 00:55:13,949
went overseas
to help rebuild Europe.

1131
00:55:13,983 --> 00:55:17,976
During this time new constitutions
were written

1132
00:55:18,020 --> 00:55:22,480
for the defeated nations
of Germany, ltaly and Japan.

1133
00:55:22,524 --> 00:55:25,220
The ltalian constitution

1134
00:55:25,261 --> 00:55:28,230
guaranteed all women equal rights.

1135
00:55:28,264 --> 00:55:31,062
And this was 1947.

1136
00:55:31,100 --> 00:55:35,264
The German constitution
said that the state has the right

1137
00:55:35,304 --> 00:55:38,740
to take over property
and the means of production

1138
00:55:38,774 --> 00:55:40,674
for the common good.

1139
00:55:40,709 --> 00:55:43,769
And here's what we wrote up
for the Japanese.

1140
00:55:43,812 --> 00:55:47,213
All workers have a right
to organize into a union.

1141
00:55:47,249 --> 00:55:51,083
And academic freedom
is guaranteed.

1142
00:55:51,120 --> 00:55:53,987
For the next 65 years

1143
00:55:54,023 --> 00:55:56,082
we would not become the country

1144
00:55:56,125 --> 00:55:58,025
that Roosevelt wanted us to be.

1145
00:55:59,194 --> 00:56:02,857
lnstead, we became this...

1146
00:56:10,439 --> 00:56:13,135
l remember thinking
during the Katrina flood,

1147
00:56:13,175 --> 00:56:15,109
''Why is it always the poor

1148
00:56:15,144 --> 00:56:16,975
who have to suffer the misery?

1149
00:56:17,012 --> 00:56:19,446
Why isn't it ever Bernie Madoff
up on the roof

1150
00:56:19,481 --> 00:56:21,176
screaming for help?

1151
00:56:21,216 --> 00:56:22,979
Or the head of Citibank

1152
00:56:23,018 --> 00:56:26,510
or the hedge fund guys
at Goldman Sachs?

1153
00:56:26,555 --> 00:56:29,649
Or the CEO at AlG?''

1154
00:56:29,692 --> 00:56:31,922
lt never is these guys, is it?

1155
00:56:31,961 --> 00:56:35,692
lt's always those who
never got a slice of the pie

1156
00:56:35,731 --> 00:56:38,029
because these men
took it all

1157
00:56:38,067 --> 00:56:40,297
and left them with nothing,

1158
00:56:40,336 --> 00:56:42,099
left them to die.

1159
00:56:44,640 --> 00:56:47,438
l refuse to live in a country like this.

1160
00:56:47,476 --> 00:56:49,569
And l'm not leaving.

1161
00:57:03,492 --> 00:57:06,825
We live in the richest
country in the world.

1162
00:57:06,862 --> 00:57:10,457
We all deserve a decent job,

1163
00:57:10,499 --> 00:57:14,265
healthcare, a good education,

1164
00:57:14,303 --> 00:57:17,534
a home to call our own.

1165
00:57:17,573 --> 00:57:20,098
We all deserve FDR's dream.

1166
00:57:21,744 --> 00:57:24,008
And it's a crime that we don't have it.

1167
00:57:25,280 --> 00:57:26,907
And we never will,

1168
00:57:26,949 --> 00:57:30,407
as long as we have a system
that enriches the few

1169
00:57:30,452 --> 00:57:32,852
at the expense of the many.

1170
00:57:34,523 --> 00:57:37,083
Capitalism is an evil.

1171
00:57:37,126 --> 00:57:39,185
And you cannot regulate evil.

1172
00:57:41,296 --> 00:57:45,096
You have to eliminate it
and replace it with something

1173
00:57:45,134 --> 00:57:48,160
that is good for all people.

1174
00:57:48,203 --> 00:57:52,162
And that something
is called democracy.

1175
00:58:05,120 --> 00:58:07,645
Crimes have been committed
in this building.

1176
00:58:07,689 --> 00:58:10,453
l am here to make a citizen's arrest.

1177
00:58:10,492 --> 00:58:13,984
Please come down
and step away from the building.

1178
00:58:14,029 --> 00:58:16,224
Do not be afraid.

1179
00:58:16,265 --> 00:58:19,200
Federal prison is a nice place.

1180
00:58:23,272 --> 00:58:26,241
You know,
l can't really do this anymore

1181
00:58:26,275 --> 00:58:29,267
unless those of you who
are watching this in the theater

1182
00:58:29,311 --> 00:58:31,370
want to join me.

1183
00:58:31,413 --> 00:58:33,438
l hope you will.

1184
00:58:33,482 --> 00:58:36,212
And please, speed it up.

1185
00:58:38,020 --> 00:58:41,956
"" Arise ye workers
from your slumber ""

1186
00:58:41,990 --> 00:58:45,391
"" Arise ye prisoners of want,
that's right ""

1187
00:58:45,427 --> 00:58:49,557
"" For reason in revolt
now thunders ""

1188
00:58:49,598 --> 00:58:52,499
"" Chains of hatred, greed
and fear ""

1189
00:58:52,534 --> 00:58:56,994
"" Away with all
your superstitions ""

1190
00:58:57,039 --> 00:59:01,032
"" Servile masses arise, arise ""

1191
00:59:01,076 --> 00:59:04,842
"" We'll change henceforth
the old tradition ""

1192
00:59:04,880 --> 00:59:08,372
"" And spurn the dust
to win the prize ""

1193
00:59:08,417 --> 00:59:12,251
"" So comrades, come on and rally ""

1194
00:59:12,287 --> 00:59:16,087
"" And the last fight let us face ""

1195
00:59:16,125 --> 00:59:19,583
"" The lnternationale ""

1196
00:59:19,628 --> 00:59:23,758
"" Unites the whole darn
human race ""

1197
00:59:23,799 --> 00:59:26,029
"" So comrades, come on ""

1198
00:59:26,068 --> 00:59:27,797
"" Let's go rally ""

1199
00:59:27,836 --> 00:59:31,567
"" And the last fight let us face ""

1200
00:59:31,607 --> 00:59:35,008
"" The lnternationale ""

1201
00:59:35,043 --> 00:59:39,309
"" Unites the whole darn human race ""

1202
00:59:39,348 --> 00:59:43,307
"" No more deluded by reaction ""

1203
00:59:43,352 --> 00:59:46,753
"" On tyrants only we'll make war ""

1204
00:59:46,788 --> 00:59:51,020
"" The soldiers too will take strike action ""

1205
00:59:51,059 --> 00:59:54,085
"" They'll break ranks and fight no more ""

1206
00:59:54,129 --> 00:59:58,293
"" And if those cannibals keep trying ""

1207
00:59:58,333 --> 01:00:01,928
"" To sacrifice us to their pride ""

1208
01:00:01,970 --> 01:00:06,066
"" Each at the forge must do their duty ""

1209
01:00:06,108 --> 01:00:09,669
"" And we'll strike while the iron is hot ""

1210
01:00:09,711 --> 01:00:13,738
"" So comrades, come on, let's go rally ""

1211
01:00:13,782 --> 01:00:17,582
"" And the last fight let us face ""

1212
01:00:17,619 --> 01:00:20,782
"" The lnternationale ""

1213
01:00:20,822 --> 01:00:25,156
"" Unites the whole beautiful
human race ""

1214
01:00:25,194 --> 01:00:28,994
"" So comrades, come on, let's go rally ""

1215
01:00:29,031 --> 01:00:33,058
"" And the last fight let us face ""

1216
01:00:33,101 --> 01:00:36,229
"" The lnternationale ""

1217
01:00:36,271 --> 01:00:42,073
"" Unites the whole darn
human race. ""

1218
01:00:57,826 --> 01:01:00,795
"" Jesus Christ was a man ""

1219
01:01:00,829 --> 01:01:03,389
"" That traveled through the land ""

1220
01:01:03,432 --> 01:01:08,631
"" A carpenter true and brave ""

1221
01:01:08,670 --> 01:01:11,298
"" And he said to the rich ""

1222
01:01:11,340 --> 01:01:13,865
"" Give your goods to the poor ""

1223
01:01:13,909 --> 01:01:19,006
"" And they laid Jesus Christ
in the grave ""

1224
01:01:19,047 --> 01:01:21,811
"" He went to the sick ""

1225
01:01:21,850 --> 01:01:24,648
"" And he went to the poor ""

1226
01:01:24,686 --> 01:01:27,280
"" And he went to the hungry ""

1227
01:01:27,322 --> 01:01:29,882
"" And the lame ""

1228
01:01:29,925 --> 01:01:32,325
"" And he said that the meek ""

1229
01:01:32,361 --> 01:01:35,228
"" Would inherit the whole world ""

1230
01:01:35,264 --> 01:01:40,292
"" And they laid Jesus Christ in the grave ""

1231
01:01:41,470 --> 01:01:43,301
"" One day Jesus stopped ""

1232
01:01:43,338 --> 01:01:46,136
"" At a rich man's door ""

1233
01:01:46,174 --> 01:01:51,134
"" What must l do to be saved? ""

1234
01:01:52,147 --> 01:01:54,308
"" Take all you own ""

1235
01:01:54,349 --> 01:01:56,783
"" And give it to the poor ""

1236
01:01:56,818 --> 01:02:01,983
"" And they laid Jesus Christ in the grave ""

1237
01:02:02,024 --> 01:02:04,515
"" When the love of the poor ""

1238
01:02:04,559 --> 01:02:07,255
"" Shall one day turn to hate ""

1239
01:02:07,296 --> 01:02:09,924
"" When the patience of the workers ""

1240
01:02:09,965 --> 01:02:12,433
"" Gives away ""

1241
01:02:12,467 --> 01:02:15,493
"" lt would better for the rich ""

1242
01:02:15,537 --> 01:02:18,062
"" lf they'd never been born ""

1243
01:02:18,106 --> 01:02:22,941
"" So they laid Jesus Christ in the grave ""

1244
01:02:28,850 --> 01:02:31,478
"" When Jesus came to town ""

1245
01:02:31,520 --> 01:02:34,080
"" All the working folks around ""

1246
01:02:34,122 --> 01:02:39,355
"" Believed what he did say ""

1247
01:02:39,394 --> 01:02:42,420
"" But bankers and preachers ""

1248
01:02:42,464 --> 01:02:44,694
"" Nailed him to the cross ""

1249
01:02:44,733 --> 01:02:49,727
"" And they laid Jesus Christ in the grave ""

1250
01:02:49,771 --> 01:02:52,535
"" Well, the people held their breath ""

1251
01:02:52,574 --> 01:02:55,441
"" When they heard about his death ""

1252
01:02:55,477 --> 01:03:00,710
"" And everybody wondered why ""

1253
01:03:00,749 --> 01:03:03,912
"" lt was the landlord and soldiers ""

1254
01:03:03,952 --> 01:03:06,079
"" Lawmen they had hired ""

1255
01:03:06,121 --> 01:03:11,388
"" That nailed Jesus Christ in the sky ""

1256
01:03:11,426 --> 01:03:14,259
"" We would lay Jesus Christ ""

1257
01:03:14,296 --> 01:03:16,924
"" ln the grave, Lord, Lord ""

1258
01:03:16,965 --> 01:03:21,061
"" We would lay Jesus Christ
in the grave ""

1259
01:03:22,070 --> 01:03:24,664
"" lf Jesus preached today ""

1260
01:03:24,706 --> 01:03:27,470
"" Like he preached in Galilee ""

1261
01:03:27,509 --> 01:03:32,344
"" They would lay Jesus Christ
in his grave. ""