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WEBVTT - https://subtitletools.com 00:00:28.762 --> 00:00:30.389 This picture, 00:00:30.430 --> 00:00:33.194 truly one of the most unusual ever filmed, 00:00:33.233 --> 00:00:36.828 contains scenes which under no circumstances 00:00:36.870 --> 00:00:39.600 should be viewed by anyone with a heart condition 00:00:39.639 --> 00:00:42.233 or anyone who is easily upset. 00:00:42.275 --> 00:00:44.300 We urgently recommend 00:00:44.344 --> 00:00:47.177 that if you are such a person or the parent 00:00:47.213 --> 00:00:50.546 of a young or impressionable child now in attendance, 00:00:50.583 --> 00:00:54.314 that you and the child leave the auditorium. 00:00:54.354 --> 00:00:56.845 - (rock music playing) - % Yeah% 00:01:03.063 --> 00:01:06.931 % Louie Louie, whoa baby% 00:01:06.966 --> 00:01:09.400 % I gotta go now% 00:01:11.271 --> 00:01:15.037 % Louie Louie, whoa baby% 00:01:15.075 --> 00:01:17.600 % I really gotta go now% 00:01:19.446 --> 00:01:23.246 % The Communist world is fallin' apart% 00:01:23.283 --> 00:01:27.743 % The capitalists are just breakin' hearts% 00:01:27.787 --> 00:01:31.188 % Money is the reason to be% 00:01:31.224 --> 00:01:35.888 % It makes me just wanna sing Louie Louie% 00:01:35.929 --> 00:01:39.592 % Louie Louie, whoa baby% 00:01:39.632 --> 00:01:42.123 % I gotta go now% 00:01:44.037 --> 00:01:47.632 % Louie Louie, whoa baby% 00:01:47.674 --> 00:01:50.006 % I really gotta go now% 00:01:50.043 --> 00:01:54.571 % Some say it will, some say it won't% 00:01:54.614 --> 00:01:57.981 % Now you see it, now you don't% 00:01:58.017 --> 00:02:02.511 % We spent all our money on a disaster movie% 00:02:02.555 --> 00:02:06.286 % It makes me wanna sing Louie Louie% 00:02:06.326 --> 00:02:10.228 % Louie Louie, whoa baby% 00:02:10.263 --> 00:02:13.096 % I gotta go now% 00:02:14.234 --> 00:02:18.170 % Louie Louie, whoa baby% 00:02:18.204 --> 00:02:20.468 % I really gotta go now% 00:02:20.507 --> 00:02:22.600 % Oh, let's give it to 'em right now. % 00:02:26.613 --> 00:02:29.173 (trumpet playing) 00:02:42.128 --> 00:02:44.824 Narrator: Rome was the largest and the most beautiful city 00:02:44.864 --> 00:02:47.332 of the ancient world. 00:02:47.367 --> 00:02:49.767 The magnificent facade of the empire, however, 00:02:49.802 --> 00:02:53.203 could not conceal the seeds of decay, 00:02:53.239 --> 00:02:57.073 the unhealthy dependence of the economy on slaves, 00:02:57.110 --> 00:03:00.307 the disparity between rich and poor. 00:03:00.346 --> 00:03:02.211 Behind the splendor of the Forum 00:03:02.248 --> 00:03:05.308 were vast areas of crowded slums. 00:03:05.351 --> 00:03:09.685 Escape from the slums was difficult for there were few jobs available 00:03:09.722 --> 00:03:12.190 and practically none for the unskilled. 00:03:12.225 --> 00:03:15.558 To keep idle citizens entertained and out of mischief, 00:03:15.595 --> 00:03:19.656 frequent games and spectacles were held at public expense. 00:03:19.699 --> 00:03:22.862 At first, only chariot races were sponsored. 00:03:22.902 --> 00:03:24.699 But by the reign of Trajan, 00:03:24.737 --> 00:03:27.865 brutal combat to the death had become popular. 00:03:27.907 --> 00:03:29.966 Earlier in Rome's history, 00:03:30.009 --> 00:03:32.876 elected representatives exercised the power. 00:03:32.912 --> 00:03:35.312 But by now, every function of government 00:03:35.348 --> 00:03:37.373 had been absorbed by the emperor 00:03:37.417 --> 00:03:40.443 who was above the law and ruled by decree. 00:03:40.486 --> 00:03:43.421 That a people as civilized as the Romans, 00:03:43.456 --> 00:03:46.448 with the most humane system of law ever devised, 00:03:46.492 --> 00:03:48.824 could tolerate the violation of human beings 00:03:48.861 --> 00:03:50.795 is astonishing. 00:03:50.830 --> 00:03:53.594 This imbalance and the irresponsible behavior 00:03:53.633 --> 00:03:56.659 of public officials would become major reasons 00:03:56.703 --> 00:03:59.570 for Rome's eventual decline. 00:04:01.641 --> 00:04:05.509 Michael Moore: I wonder how future civilizations will view our society. 00:04:05.545 --> 00:04:07.410 Will they judge us by this? 00:04:07.447 --> 00:04:09.472 - % He's a cat flushin' a toilet... % - (mews) 00:04:09.515 --> 00:04:13.474 % He's a cat flushin' a toilet, he's a cat flushin' a toilet% 00:04:13.519 --> 00:04:15.646 % He's a cat flushin' a toilet. % 00:04:16.723 --> 00:04:18.247 (mews) 00:04:18.291 --> 00:04:21.928 Moore: Or will they judge us by this? 00:04:32.372 --> 00:04:34.237 Man #1: Do you see the sheriff's car? 00:04:34.274 --> 00:04:37.300 Man #2: Yeah, right there. The sheriff... that's the first car. 00:04:37.343 --> 00:04:39.709 - Woman: No... - There he is. 00:04:54.761 --> 00:04:57.662 Man #3: Three, four, five, six... 00:04:57.697 --> 00:04:59.688 Woman: Seven. 00:05:08.141 --> 00:05:10.200 - Man #1: Give me the phone. - Woman: It's on this... 00:05:10.243 --> 00:05:13.440 it's on the c... it's on the couch. 00:05:13.479 --> 00:05:16.971 All right, that's as close as I can get, Dad. 00:05:21.754 --> 00:05:24.552 - Don't stand in front of the door, Dad. - (knocking) 00:05:24.590 --> 00:05:26.922 (whispering) Get out from the... 00:05:26.959 --> 00:05:29.484 Hey, Sheriff, Robert inside the house here. 00:05:29.529 --> 00:05:32.259 - (knocking) - (loud banging) 00:05:32.298 --> 00:05:34.892 Woman: They're trying to beat the back door in, Dad. 00:05:34.934 --> 00:05:36.424 (loud banging) 00:05:36.469 --> 00:05:39.199 There are four of us in here. They're beating on the door. 00:05:39.238 --> 00:05:41.866 We're not gonna resist, but you will have to come 00:05:41.908 --> 00:05:43.876 in the house on your own. 00:05:43.910 --> 00:05:46.174 But there are four souls in this house. 00:05:49.949 --> 00:05:52.076 Woman: Dad, don't stand in front of the door. 00:05:52.118 --> 00:05:54.086 - Do not. - (doorknob rattling) 00:05:54.120 --> 00:05:58.284 (banging continues) 00:06:01.127 --> 00:06:03.118 Woman: Another witness. 00:06:03.162 --> 00:06:04.686 Tell your name to the camera. 00:06:04.731 --> 00:06:08.792 - I'm David Phillips. - Chris Collins. 00:06:08.835 --> 00:06:11.201 And Audra Collins. 00:06:11.237 --> 00:06:13.865 (banging continues) 00:06:16.175 --> 00:06:18.439 - David: And this is America? - Chris: Uh-huh. 00:06:18.478 --> 00:06:21.743 Audra: This is America, folks, what you're watching right here. 00:06:32.792 --> 00:06:35.317 - Sheriff's office. - Robert: Yeah, we know. 00:06:35.361 --> 00:06:39.923 - Okay, y'all have to come out, please. - Robert: All right. 00:06:39.966 --> 00:06:44.460 Woman: We cannot act like this... this is just something that's okay. 00:06:44.504 --> 00:06:46.472 And so this is new. 00:06:46.506 --> 00:06:49.373 They've never come out and boarded up our house 00:06:49.409 --> 00:06:51.172 after they've evicted the person 00:06:51.210 --> 00:06:53.770 and threw their furniture in the dumpster. 00:06:53.813 --> 00:06:55.838 So they're letting us know 00:06:55.882 --> 00:06:59.409 that they are stepping it up, 00:06:59.452 --> 00:07:01.784 boarding up somebody's house. 00:07:01.821 --> 00:07:03.880 This has been my family home. This is my parents' house. 00:07:03.923 --> 00:07:06.153 I've lived here for 41 years. 00:07:08.761 --> 00:07:11.127 This is the only home I've ever really lived in. 00:07:11.164 --> 00:07:13.962 This is the only... this will always be home to me, no matter what. 00:07:14.000 --> 00:07:15.729 - I'm a carpenter. - Woman: There you go. 00:07:15.768 --> 00:07:17.895 Man #1: Sandra, they're leaving. Let them leave. 00:07:17.937 --> 00:07:20.462 - Man #2: I'm a carpenter. So what? - That's all I am. 00:07:22.975 --> 00:07:25.739 - Well, people pay their bills. - This could happen to you. 00:07:25.778 --> 00:07:28.269 Carpenter: That's right. So why do you think I'm doing it? 00:07:28.314 --> 00:07:30.441 I don't have to be happy about this, but that's what I do. 00:07:30.483 --> 00:07:33.350 Sandra: That's all I'm saying is that maybe you can make another choice. 00:07:33.386 --> 00:07:35.980 - That's all we're saying. - That's no reason for... 00:07:36.022 --> 00:07:37.580 Sandra: You're a working-class person. 00:07:37.623 --> 00:07:40.649 ...people here to get upset and almost get themselves hurt. 00:07:40.693 --> 00:07:43.423 We ain't gonna get hurt. 00:07:43.463 --> 00:07:44.987 Are you threatening us? 00:07:45.031 --> 00:07:47.829 Y'all gonna get on out of here. You might end up even getting hurt. 00:07:47.867 --> 00:07:50.734 Talking about us getting hurt, you might get hurt. 00:07:50.770 --> 00:07:52.897 Man: There's gonna be some kind of a rebellion 00:07:52.939 --> 00:07:55.965 between the people that have nothing 00:07:56.008 --> 00:07:59.375 and the people that's got it all. 00:07:59.412 --> 00:08:00.936 I don't understand. 00:08:00.980 --> 00:08:02.880 There's no in-between no more. 00:08:02.915 --> 00:08:05.008 There's the people that's got it all 00:08:05.051 --> 00:08:06.951 and the people that have nothing. 00:08:09.822 --> 00:08:12.416 We gotta get this stuff out of the house and packed up 00:08:12.458 --> 00:08:15.325 and be out of here in about 30 days 00:08:15.361 --> 00:08:17.693 even though we don't have a place to go. 00:08:21.334 --> 00:08:24.167 Oh. 00:08:24.203 --> 00:08:26.296 Woman: We designed this house. 00:08:26.339 --> 00:08:30.366 The property that it's on was my family farm. 00:08:32.645 --> 00:08:37.639 So I've lost a piece of my heritage with this. 00:08:37.683 --> 00:08:41.414 Why do you do this to the hard-working people? 00:08:46.726 --> 00:08:50.093 Why do you take everything? 00:08:50.129 --> 00:08:52.996 You take everything away from them. 00:08:53.032 --> 00:08:56.331 We're just middle-class, hard-working people 00:08:56.369 --> 00:08:58.462 trying to make a living. 00:09:01.073 --> 00:09:03.940 Just trying to survive. 00:09:07.480 --> 00:09:09.573 An old Browning. 00:09:11.150 --> 00:09:13.812 (grunts) My pistol, 00:09:13.853 --> 00:09:17.550 my dad's pistol, my pistol. 00:09:17.590 --> 00:09:19.387 (sighs) 00:09:19.425 --> 00:09:21.985 - (knocking) - Man: Sheriff's department. 00:09:22.028 --> 00:09:24.223 It's supposed to be 30 days. 00:09:24.263 --> 00:09:26.356 I got 30 days to get my stuff out. 00:09:26.399 --> 00:09:28.959 - That's what the guy told me. - No. 00:09:29.001 --> 00:09:30.969 What? 00:09:31.003 --> 00:09:33.836 It's currently scheduled for today. 00:09:33.873 --> 00:09:35.397 But... 00:09:35.441 --> 00:09:37.739 The paper's telling us that we are due 00:09:37.777 --> 00:09:41.178 to do an eviction here today at 9:00 AM. 00:09:41.213 --> 00:09:43.238 Huh, shoot. 00:09:44.517 --> 00:09:47.281 Well, he's surprised too. 00:09:47.320 --> 00:09:49.481 The house is gone. 00:09:49.522 --> 00:09:51.046 That cop told me that the house 00:09:51.090 --> 00:09:53.354 has already been sold to somebody else. 00:09:53.392 --> 00:09:56.589 So we don't own the house no more, somebody else does. 00:09:57.930 --> 00:10:00.899 Moore: This is capitalism, 00:10:00.933 --> 00:10:04.562 a system of taking and giving... 00:10:04.604 --> 00:10:07.129 mostly taking. 00:10:07.173 --> 00:10:09.073 The only thing we didn't know 00:10:09.108 --> 00:10:12.305 was when the revolt would begin. 00:10:12.345 --> 00:10:14.506 Man: Everything, we've tried everything... 00:10:14.547 --> 00:10:16.174 except robbing a bank. 00:10:16.215 --> 00:10:18.843 I'm thinking about maybe doing that. 00:10:18.884 --> 00:10:22.718 You know, that's one way somebody could get their money back. 00:10:22.755 --> 00:10:24.814 If they did it... they did it to me, 00:10:24.857 --> 00:10:27.326 I don't know why I can't do it to them. 00:10:31.263 --> 00:10:33.458 Peter Zalewski: This is my second Hyundai Sonata. 00:10:33.499 --> 00:10:34.966 I'll probably get a new car next year. 00:10:35.001 --> 00:10:36.730 And when I do, it'll probably be another Sonata. 00:10:36.769 --> 00:10:38.327 You know, I'm not a car guy. 00:10:38.371 --> 00:10:40.134 If I can go in there and steal a condo 00:10:40.172 --> 00:10:42.663 for the equivalent of what a Mercedes would cost 00:10:42.708 --> 00:10:45.176 or a Bentley would cost, I'm all about that. 00:10:46.178 --> 00:10:48.078 Moore: Meet Peter Zalewski, 00:10:48.114 --> 00:10:50.480 Florida's up-and-coming real estate whiz. 00:10:50.516 --> 00:10:52.040 Here we go. 00:10:52.084 --> 00:10:55.645 Moore: He calls his real estate company Condo Vultures. 00:10:55.688 --> 00:10:57.349 (stuttering) We have a very good sign. 00:10:57.390 --> 00:10:58.914 You have the final notice of eviction. 00:10:58.958 --> 00:11:00.949 So you can see this person was basically thrown out 00:11:00.993 --> 00:11:02.824 by the police department. 00:11:02.862 --> 00:11:04.796 Welcome. 00:11:06.098 --> 00:11:07.725 Moore: Peter deals exclusively 00:11:07.767 --> 00:11:10.031 with clients who buy up foreclosed homes 00:11:10.069 --> 00:11:12.503 and then resell them at a profit. 00:11:12.538 --> 00:11:15.166 It's gonna be about 830 square feet or so... 00:11:15.207 --> 00:11:17.334 At the end of the day, the only people who are buying 00:11:17.376 --> 00:11:19.435 are primarily individuals that we represent... 00:11:19.478 --> 00:11:21.946 Today it's on the market for $66,000. 00:11:21.981 --> 00:11:24.245 ...which are basically bottom feeders who are going in there. 00:11:24.283 --> 00:11:26.148 They have no compassion, no sensitivity. 00:11:26.185 --> 00:11:28.949 They're running purely off numbers They're coming in all cash, 00:11:28.988 --> 00:11:31.388 and they're looking to slit any single seller's throat 00:11:31.424 --> 00:11:33.517 regardless of what their situation is. 00:11:33.559 --> 00:11:35.857 So people always ask, "What's 25¢ on the dollar?" 00:11:35.895 --> 00:11:37.658 This is it. This is what you're gonna get. 00:11:37.697 --> 00:11:40.894 The vulture basically represents a bottom feeder 00:11:40.933 --> 00:11:44.198 that goes in there and cleans off a carcass. 00:11:44.236 --> 00:11:46.761 Because they're dealing with so many different germs and situations, 00:11:46.806 --> 00:11:49.104 they'll have to vomit on themselves and there's some sort 00:11:49.141 --> 00:11:51.075 of cleansing process that occurs. 00:11:51.110 --> 00:11:52.975 The vultures aren't actually killing, 00:11:53.012 --> 00:11:54.775 they're the ones doing the clean-up. 00:11:54.814 --> 00:11:56.304 Which bank you want? Bank of America? 00:11:56.348 --> 00:11:58.213 What we do is we tap into data... 00:11:58.250 --> 00:11:59.842 and boom, voila. 00:11:59.885 --> 00:12:03.252 Here we got 3,400 foreclosing by Bank of America. 00:12:03.289 --> 00:12:04.756 Gotta love it. 00:12:04.790 --> 00:12:07.315 As we collect data, it's giving us 00:12:07.359 --> 00:12:10.089 the insight into the battlefield, 00:12:10.129 --> 00:12:13.496 almost like a drone that flies over the battleground in Afghanistan 00:12:13.532 --> 00:12:16.501 or in Pakistan or in Iraq. 00:12:16.535 --> 00:12:18.696 The current asking price is 355. 00:12:18.738 --> 00:12:20.797 Again, it was purchased for 840. 00:12:20.840 --> 00:12:23.138 A little bit of a discount. You're gonna have two... 00:12:23.175 --> 00:12:25.268 Our people are using that data to be able to go in 00:12:25.311 --> 00:12:28.303 and try to steal properties, legally and ethically, 00:12:28.347 --> 00:12:30.372 but take them at the bare-bone bottom price. 00:12:30.416 --> 00:12:32.384 It's all about taking right now. 00:12:32.418 --> 00:12:35.319 Look at the... look at the roof... completely gone and missing. 00:12:35.354 --> 00:12:37.822 We haven't had a hurricane in five years. 00:12:37.857 --> 00:12:39.882 (laughing) 00:12:39.925 --> 00:12:42.450 Welcome to the housing crash, Miami style. 00:12:42.495 --> 00:12:44.190 So this... this is what capitalism is 00:12:44.230 --> 00:12:46.391 and this is why the information is so critical. 00:12:46.432 --> 00:12:47.990 We go in there, we alert them to it, 00:12:48.033 --> 00:12:49.523 and if they like it, you know... 00:12:49.568 --> 00:12:51.536 (imitates shotgun) 00:12:51.570 --> 00:12:53.003 - Look at the window. - Look at that. 00:12:53.038 --> 00:12:54.801 Looks like the house next door was on fire. 00:12:54.840 --> 00:12:56.705 This is straight up capitalism. 00:12:56.742 --> 00:12:59.233 - Fire damage. - I wonder if somebody was living there... 00:12:59.278 --> 00:13:01.269 Zalewski: Everybody's got this desire to go in there 00:13:01.313 --> 00:13:03.747 and take advantage of others' misfortunes. 00:13:03.783 --> 00:13:04.909 Somebody asked me, 00:13:04.950 --> 00:13:07.111 "What's the difference between you and a real vulture?" 00:13:07.153 --> 00:13:09.986 I said, "It's very simple. I don't vomit on myself." 00:13:12.358 --> 00:13:15.418 Our topic today: What is capitalism? 00:13:15.461 --> 00:13:16.621 Capitalism? 00:13:16.662 --> 00:13:19.130 Well, why should there be any question about it? 00:13:19.165 --> 00:13:22.623 Hasn't it given us the highest standard of living in the world? 00:13:22.668 --> 00:13:25.398 We're free to try to make a profit, 00:13:25.437 --> 00:13:27.735 to just get by, or to fail. 00:13:27.773 --> 00:13:29.764 That's what capitalism is: 00:13:29.809 --> 00:13:32.300 A system of free enterprise. 00:13:32.344 --> 00:13:34.642 Now tell us what "free enterprise" means. 00:13:35.915 --> 00:13:38.315 Moore: I went to see my friend Wally Shawn, 00:13:38.350 --> 00:13:40.545 a playwright and sometimes actor. 00:13:40.586 --> 00:13:42.110 Inconceivable! 00:13:42.154 --> 00:13:45.385 Moore: But Wally also studied history and politics 00:13:45.424 --> 00:13:48.291 and even a little elementary economics. 00:13:48.327 --> 00:13:52.593 Free enterprise is a form of words 00:13:52.631 --> 00:13:55.361 that is intended to conjure up in your mind 00:13:55.401 --> 00:14:00.338 a little town with different shops. 00:14:00.372 --> 00:14:03.307 And the guy who runs the best shop 00:14:03.342 --> 00:14:05.833 has the most customers. 00:14:05.878 --> 00:14:08.278 Narrator: There is the basis of the capitalistic system: 00:14:08.314 --> 00:14:09.906 The profit motive. 00:14:09.949 --> 00:14:12.782 He's in business to make money. 00:14:12.818 --> 00:14:15.286 Shawn: The original theory of capitalism 00:14:15.321 --> 00:14:18.313 is that it's a very clever way 00:14:18.357 --> 00:14:22.726 of society voting on what goods 00:14:22.761 --> 00:14:25.161 it wants made. 00:14:25.197 --> 00:14:27.028 What do you use this for? 00:14:27.066 --> 00:14:30.900 That's... I could use that for practically everything I ever do. 00:14:30.936 --> 00:14:34.599 You know, society votes. 00:14:34.640 --> 00:14:36.904 They like the way this guy 00:14:36.942 --> 00:14:39.638 makes ice cream. 00:14:39.678 --> 00:14:41.305 But the other guy, 00:14:41.347 --> 00:14:44.680 they don't like his ice cream that much 00:14:44.717 --> 00:14:49.586 and they don't buy it, so it fades out. 00:14:49.622 --> 00:14:52.250 It's on me. That is a good fit. 00:14:52.291 --> 00:14:56.625 Shawn: The basic law of life is that if you have things, 00:14:56.662 --> 00:15:00.029 you can easily get more things. 00:15:00.065 --> 00:15:03.057 Very quickly, one guy can have 00:15:03.102 --> 00:15:05.798 five times more than anybody else. 00:15:05.838 --> 00:15:08.238 - Free enterprise. - Competition. 00:15:08.274 --> 00:15:09.741 Woman: The profit motive. 00:15:11.744 --> 00:15:14.645 Moore: My dad, an assembly-line worker at General Motors, 00:15:14.680 --> 00:15:16.341 bought and paid for our house 00:15:16.382 --> 00:15:20.045 before I graduated from kindergarten. 00:15:20.085 --> 00:15:23.213 We had a new car every three years. 00:15:25.257 --> 00:15:28.090 We went to New York every other summer. 00:15:28.127 --> 00:15:31.096 That's me on Wall Street. 00:15:31.130 --> 00:15:33.030 And that's me directing my first movie 00:15:33.065 --> 00:15:34.589 at the World's Fair. 00:15:34.633 --> 00:15:38.660 We went to Catholic schools, we lived a good life. 00:15:40.439 --> 00:15:43.772 If this was capitalism, I loved it... 00:15:43.809 --> 00:15:46.277 and so did everyone else. 00:15:46.312 --> 00:15:50.305 During these years a lot of people got rich 00:15:50.349 --> 00:15:54.342 and they had to pay a top tax rate of 90%. 00:15:54.386 --> 00:15:56.479 90%? 00:15:56.522 --> 00:15:58.353 Yep. 00:15:58.390 --> 00:16:02.952 But they still got to live like Bogie and Bacall. 00:16:02.995 --> 00:16:05.327 And what did we do with all their money? 00:16:05.364 --> 00:16:08.128 We built damns, bridges, 00:16:08.167 --> 00:16:11.967 interstate highways, schools, hospitals. 00:16:12.004 --> 00:16:14.438 We even sent a guy to the moon. 00:16:14.473 --> 00:16:16.873 Things seemed to be going in the right direction. 00:16:16.909 --> 00:16:19.969 Dad had a secure job and Mom could work 00:16:20.012 --> 00:16:22.446 if she wanted, but didn't have to. 00:16:22.481 --> 00:16:26.383 Middle-class families only needed one income to survive. 00:16:26.418 --> 00:16:29.683 Our union family had free health care and free dental. 00:16:29.722 --> 00:16:33.180 The kids could go to college without getting a loan from a bank. 00:16:33.225 --> 00:16:36.854 Dad had four weeks paid vacation every summer. 00:16:36.895 --> 00:16:40.729 Most people had a savings account and little debt. 00:16:40.766 --> 00:16:44.532 And Dad's pension was set aside where no one could touch it. 00:16:44.570 --> 00:16:48.563 It would be there for him when he retired. 00:16:48.607 --> 00:16:52.668 We got all of this because our main industrial competition 00:16:52.711 --> 00:16:55.236 had been reduced to rubble. 00:16:55.280 --> 00:16:57.942 Here's what the German car industry looked like. 00:16:57.983 --> 00:17:01.419 And here's the Japanese auto industry. 00:17:01.453 --> 00:17:03.546 I guess you could say it's easy to be number one 00:17:03.589 --> 00:17:06.524 when you have no competition. 00:17:06.558 --> 00:17:09.118 Yes, of course not everything was perfect. 00:17:09.161 --> 00:17:11.061 We didn't mind having to put up 00:17:11.096 --> 00:17:14.031 with a little bit of this and a little bit of that... 00:17:16.635 --> 00:17:19.263 just as long as we could be middle-class. 00:17:21.607 --> 00:17:25.304 And we could count on our kids having it better than we had it. 00:17:25.344 --> 00:17:28.677 It sounded like a good deal to us. 00:17:28.714 --> 00:17:32.878 Capitalism... no one ever had it so good. 00:17:40.759 --> 00:17:42.784 And then, right when we were in the middle 00:17:42.828 --> 00:17:46.265 of this big love affair with capitalism... 00:17:46.265 --> 00:17:48.733 Announcer: The ABC Sunday Night Movie "The Gambler" 00:17:48.767 --> 00:17:50.428 will continue in its entirety 00:17:50.469 --> 00:17:54.064 following this live report from ABC News. 00:17:54.106 --> 00:17:58.975 We are at a turning point in our history. 00:17:59.011 --> 00:18:01.275 Moore: Along came Debbie Downer. 00:18:01.313 --> 00:18:05.079 Too many of us now tend to worship 00:18:05.117 --> 00:18:09.520 self-indulgence and consumption. 00:18:09.555 --> 00:18:13.548 Human identity is no longer defined 00:18:13.592 --> 00:18:17.323 by what one does, 00:18:17.362 --> 00:18:20.229 but by what one owns. 00:18:20.265 --> 00:18:21.926 This is not a message 00:18:21.967 --> 00:18:25.528 of happiness or reassurance, 00:18:25.571 --> 00:18:27.801 but it is the truth 00:18:27.840 --> 00:18:29.831 and it is a warning. 00:18:29.875 --> 00:18:31.843 Moore: Wow, what a bummer. 00:18:31.877 --> 00:18:35.005 It was time to bring a new sheriff to town... 00:18:35.047 --> 00:18:36.139 (horse whinnies) 00:18:36.181 --> 00:18:38.649 ...one who knew how to act like a president. 00:18:38.684 --> 00:18:42.347 He knew how to handle workers who wanted a better wage. 00:18:42.387 --> 00:18:44.651 (gunshot) 00:18:44.690 --> 00:18:47.625 All right, mister, I guess you win. 00:18:47.659 --> 00:18:49.149 Moore: Or these annoying feminists 00:18:49.194 --> 00:18:51.958 whining about their Equal Rights Amendment. 00:18:51.997 --> 00:18:54.465 Well, I can change that in a hurry. 00:18:56.168 --> 00:18:59.968 Moore: A man who knew how to get the job done. 00:19:00.005 --> 00:19:03.532 Ronald Reagan came out of the B movies 00:19:03.575 --> 00:19:07.739 to become the most famous corporate spokesman of the 1950s. 00:19:07.779 --> 00:19:10.475 It's a transistor radio too. Weighs only a few ounces. 00:19:10.516 --> 00:19:11.949 You can slip it right into your pocket. 00:19:11.984 --> 00:19:14.350 Boraxo waterless hand cleaner really cleans up for us. 00:19:14.386 --> 00:19:16.320 Moore: He had found his calling 00:19:16.355 --> 00:19:19.290 and Wall Street had found their man. 00:19:19.324 --> 00:19:22.384 You see, the banks and corporations had a simple plan: 00:19:22.427 --> 00:19:25.794 To remake America to serve them. 00:19:25.831 --> 00:19:27.423 But to pull it off would require 00:19:27.466 --> 00:19:30.492 electing a spokesmodel for president. 00:19:30.536 --> 00:19:34.734 And on November 4th, 1980, that's what we did. 00:19:34.773 --> 00:19:36.604 ...that I will faithfully execute 00:19:36.642 --> 00:19:38.837 the office of President of the United States. 00:19:38.877 --> 00:19:41.072 Crowd: Ronald Ronald Ronald... 00:19:41.113 --> 00:19:43.343 Thank you. 00:19:43.382 --> 00:19:46.112 Moore: It was an historic moment 00:19:46.151 --> 00:19:48.915 because now corporate America and Wall Street 00:19:48.954 --> 00:19:51.946 were in almost complete control. 00:19:51.990 --> 00:19:54.686 See that guy standing next to the president? 00:19:54.726 --> 00:19:57.593 You know, the one that looks like a butler? 00:19:57.629 --> 00:19:59.995 His name was Don Regan, 00:20:00.032 --> 00:20:02.296 the Chairman of Merrill Lynch, 00:20:02.334 --> 00:20:06.862 the richest and biggest retail brokerage firm in the world. 00:20:06.905 --> 00:20:09.874 He took the key position of Treasury Secretary 00:20:09.908 --> 00:20:13.776 so he could enact the tax cuts that the rich wanted. 00:20:13.812 --> 00:20:16.110 Regan then became White House Chief of Staff 00:20:16.148 --> 00:20:19.709 as the president started to fade. 00:20:19.751 --> 00:20:22.879 Then they should give the president what 43 governors have, 00:20:22.921 --> 00:20:25.389 a line-item veto. 00:20:25.424 --> 00:20:27.585 - And... - (applause) 00:20:27.626 --> 00:20:31.687 - You're gonna have to speed it up. - Oh. 00:20:31.730 --> 00:20:34.893 Moore: Who tells the president to speed it up? 00:20:34.933 --> 00:20:38.767 The man from Merrill Lynch, that's who. 00:20:38.804 --> 00:20:43.264 Things in America would never be the same again. 00:20:43.308 --> 00:20:46.744 The country would now be run like a corporation. 00:20:46.778 --> 00:20:48.871 We're going to turn the bull loose. 00:20:48.914 --> 00:20:52.281 (cheering, applause) 00:20:52.317 --> 00:20:55.912 Moore: And four years later, when Reagan ran for reelection, 00:20:55.954 --> 00:20:59.390 it was all smiley faces and happy talk. 00:20:59.424 --> 00:21:01.949 I really feel that we're gonna be better off in the long run. 00:21:01.994 --> 00:21:04.929 We're on the upward swing 00:21:04.963 --> 00:21:08.490 and the factories are working much stronger than before. 00:21:08.533 --> 00:21:10.933 We're back on top. 00:21:14.473 --> 00:21:16.839 Moore: Actually, what Reagan presided over 00:21:16.875 --> 00:21:21.437 was the wholesale dismantling of our industrial infrastructure. 00:21:21.480 --> 00:21:25.314 This was not done to save money or remain competitive, 00:21:25.350 --> 00:21:27.409 as companies back then were already posting 00:21:27.452 --> 00:21:30.853 record earnings in the billions. 00:21:30.889 --> 00:21:34.620 No, it was done for short-term profits... 00:21:38.730 --> 00:21:41.631 and to destroy the unions. 00:21:41.667 --> 00:21:44.761 Millions of people were thrown out of work 00:21:44.803 --> 00:21:48.136 and the remaining workers were told to work twice as hard. 00:21:49.608 --> 00:21:53.066 But wages for working people remained frozen. 00:21:54.980 --> 00:21:57.813 The richest Americans had their top income tax rate 00:21:57.849 --> 00:22:00.784 cut in half. 00:22:02.621 --> 00:22:05.715 Instead of being paid a decent wage, 00:22:05.757 --> 00:22:08.521 we were encouraged to live on borrowed money 00:22:08.560 --> 00:22:12.621 until our household debt was nearly 100% of the GDP. 00:22:12.664 --> 00:22:15.827 There was an explosion of personal bankruptcies. 00:22:15.867 --> 00:22:19.735 We found it necessary to lock up millions of our citizens. 00:22:19.771 --> 00:22:22.069 Sales of antidepressants skyrocketed 00:22:22.107 --> 00:22:24.701 as insurance and pharmaceutical company greed 00:22:24.743 --> 00:22:27.940 pushed the cost of healthcare up and up. 00:22:27.979 --> 00:22:31.506 All of this was great news for the stock market 00:22:31.550 --> 00:22:34.610 and for America's CEOs. 00:22:39.624 --> 00:22:41.319 Moore: Half of Flint was now receiving 00:22:41.360 --> 00:22:44.523 some form of government welfare. 00:22:44.563 --> 00:22:46.428 During the end of the Reagan years, 00:22:46.465 --> 00:22:49.696 I made my first movie about what had happened to the country 00:22:49.735 --> 00:22:53.193 and specifically to my hometown of Flint, Michigan, 00:22:53.238 --> 00:22:56.469 the birthplace of General Motors. 00:22:56.508 --> 00:23:00.376 GM was posting profits of over $4 billion 00:23:00.412 --> 00:23:02.403 while at the same time eliminating 00:23:02.447 --> 00:23:05.211 tens of thousands of jobs. 00:23:05.250 --> 00:23:09.186 I went to see GM's chief lobbyist in Flint, Mr. Tom Kay, 00:23:09.221 --> 00:23:12.418 to ask him why this was happening. 00:23:12.457 --> 00:23:15.449 General Motors wouldn't be doing anybody any service 00:23:15.494 --> 00:23:16.961 if it goes bankrupt. 00:23:16.995 --> 00:23:18.758 It has to do what it has to do 00:23:18.797 --> 00:23:21.994 in order to stay competitive in today's economic climate. 00:23:22.033 --> 00:23:26.094 Moore: Even if that means eliminating 18,000 jobs? 00:23:26.138 --> 00:23:29.107 Even if it means eliminating 20,000 jobs. 00:23:29.141 --> 00:23:31.439 - Or 30,000? - Whatever. 00:23:31.476 --> 00:23:36.038 - How about all the jobs here in Flint? - It could feasibly happen. 00:23:36.081 --> 00:23:38.641 Moore: And it did. 00:23:38.683 --> 00:23:41.481 Nearly all the jobs were eliminated 00:23:41.520 --> 00:23:44.284 and GM went bankrupt. 00:23:46.091 --> 00:23:49.720 Perhaps more distressing was the fact that the rest of America 00:23:49.761 --> 00:23:53.891 was now starting to resemble Flint, Michigan. 00:23:53.932 --> 00:23:58.096 But there were some cities that still took pride in their greatness. 00:23:58.136 --> 00:23:59.899 % Cleveland% 00:23:59.938 --> 00:24:02.429 % Come on down to Cleveland Town, everyone% 00:24:02.474 --> 00:24:05.375 % Come and look at both of our buildings% 00:24:05.410 --> 00:24:08.208 % Here's the place where there used to be industry% 00:24:08.246 --> 00:24:11.079 % This train is carrying jobs out of Cleveland% 00:24:11.116 --> 00:24:14.108 % See the sun almost three times a year% 00:24:14.152 --> 00:24:16.916 % This guy has at least two DUls% 00:24:16.955 --> 00:24:19.890 % Our economy's based on LeBron James% 00:24:19.925 --> 00:24:22.758 % Buy a house for the price of a VCR% 00:24:22.794 --> 00:24:25.490 % Our main export is crippling depression% 00:24:25.530 --> 00:24:28.499 % We're so retarded that we think this is art% 00:24:28.533 --> 00:24:33.163 % It could be worse, though, at least we're not Detroit% 00:24:33.205 --> 00:24:35.400 % We're not Detroit. % 00:24:35.440 --> 00:24:39.137 Moore: No, they're not Detroit. 00:24:39.177 --> 00:24:41.805 For 20 years I tried to warn GM and others 00:24:41.847 --> 00:24:45.510 that this day was coming, but to no avail. 00:24:45.550 --> 00:24:47.814 Maybe now they'd listen. 00:24:47.853 --> 00:24:50.287 So I went down to the headquarters of General Motors 00:24:50.322 --> 00:24:53.985 one last time to share some of my ideas. 00:24:54.025 --> 00:24:56.186 You don't have permission. You can't film here. 00:24:56.228 --> 00:24:57.217 Huh? 00:24:57.262 --> 00:24:59.059 You don't have permission from General Motors. 00:24:59.097 --> 00:25:01.691 - You can't film here. - I'm just going up to see the chairman. 00:25:01.733 --> 00:25:03.724 No, sir. No, sir. 00:25:03.768 --> 00:25:05.998 You know, I've been doing this for, like, 20 years. 00:25:06.037 --> 00:25:07.527 I understand, sir. 00:25:07.572 --> 00:25:11.064 And I have not been let into this building for 20 years, 00:25:11.109 --> 00:25:14.772 and I think it's about time someone just let me in 00:25:14.813 --> 00:25:16.440 and let me talk to them. 00:25:16.481 --> 00:25:18.346 I've got some good ideas. 00:25:18.383 --> 00:25:22.820 4-7 to 7-6 Bravo Area Alpha. 00:25:22.854 --> 00:25:25.254 Man: Go ahead. 00:25:25.290 --> 00:25:28.521 It's Michael Moore here to see the chairman. 00:25:30.829 --> 00:25:33.354 Repeat that. 00:25:33.398 --> 00:25:35.491 It's the filmmaker Mr. Michael Moore. 00:25:35.534 --> 00:25:37.525 He's here to see the chairman. 00:25:38.770 --> 00:25:40.362 - Gentlemen. - Yes. 00:25:40.405 --> 00:25:42.805 You need to get prior permission. You cannot film here, okay? 00:25:42.841 --> 00:25:45.571 But if I can't go in and get permission, what am I supposed to do? 00:25:45.610 --> 00:25:48.101 I guess they're right. Breaking up is hard to do. 00:25:48.146 --> 00:25:50.444 Stop that. Don't do that. Just go in the building. 00:25:50.482 --> 00:25:53.178 Moore: For 35 years, GM made more money 00:25:53.218 --> 00:25:55.311 than any other corporation. 00:25:55.353 --> 00:25:56.945 But eventually, Germany and Japan 00:25:56.988 --> 00:25:59.786 rebuilt their car industry and produced vehicles 00:25:59.824 --> 00:26:02.850 that were safer than ours, more fuel efficient 00:26:02.894 --> 00:26:05.055 and rarely, if ever, broke down. 00:26:08.166 --> 00:26:12.535 In Germany, unions help hire and fire the board of directors 00:26:12.571 --> 00:26:15.972 so the workers have a say in what's going on. 00:26:18.843 --> 00:26:20.834 You see, the people of Japan and Germany 00:26:21.112 --> 00:26:24.548 fight to make sure that even their conservative political leaders 00:26:24.583 --> 00:26:26.710 don't destroy their middle class. 00:26:31.056 --> 00:26:33.684 So where exactly are we right now? 00:26:33.725 --> 00:26:38.287 On the day that General Motors declared Chapter 11 bankruptcy, 00:26:38.330 --> 00:26:41.766 I went with my dad to visit the AC Spark Plug plant 00:26:41.800 --> 00:26:44.394 where he had worked for over 30 years. 00:26:44.436 --> 00:26:48.099 - So you worked actually right here. - You'd have to go... 00:26:48.139 --> 00:26:51.939 they had a ramp that took you up over that, just beyond that... 00:26:51.977 --> 00:26:53.501 - Just beyond that space there? - Yeah. 00:26:53.545 --> 00:26:55.536 - And then the factory was all over there? - Yeah. 00:26:55.580 --> 00:26:57.980 Moore: The whole complex is, like, two miles long. 00:26:58.016 --> 00:27:00.348 I remember Mom bringing us kids in to pick you up. 00:27:00.385 --> 00:27:02.285 - 2:30 every day. - Yeah, uh-huh. 00:27:02.320 --> 00:27:05.346 You'd walk out of there, right over in there in fact. 00:27:05.390 --> 00:27:07.358 And we'd be waiting in the car for you 00:27:07.392 --> 00:27:09.883 and we'd see you come down the ramp. 00:27:09.928 --> 00:27:13.523 We got real excited every time we saw you. 00:27:13.565 --> 00:27:16.056 I was there 331/2 years. 00:27:16.101 --> 00:27:18.160 - 331/2 years? - Uh-huh. 00:27:18.203 --> 00:27:21.001 Moore: What's your best memory here, being here, working here? 00:27:21.039 --> 00:27:24.202 My best memory? I think the people. 00:27:24.242 --> 00:27:26.233 They were a really good bunch. 00:27:26.277 --> 00:27:29.144 - You liked the crowd you worked with? - Yeah. 00:27:29.180 --> 00:27:32.445 Frank Moore: A good place to work. I enjoyed it. 00:27:32.484 --> 00:27:35.351 But I'm sorry to see it go. 00:27:42.961 --> 00:27:45.691 Moore: Shortly before Christmas 2008, 00:27:45.730 --> 00:27:48.858 Republic Windows & Doors in Chicago, Illinois, 00:27:48.900 --> 00:27:52.131 abruptly fired its entire unionized workforce 00:27:52.170 --> 00:27:55.230 of over 250 people. 00:27:55.273 --> 00:27:58.731 They were given only three days' notice. 00:27:58.777 --> 00:28:00.836 Bank of America would no longer provide 00:28:00.879 --> 00:28:03.074 a line of credit to the company, 00:28:03.114 --> 00:28:07.210 and so the workers were not paid the money owed to them. 00:28:07.252 --> 00:28:10.050 Man #1: My life revolves around this job. 00:28:10.088 --> 00:28:14.252 I live according to my obligation to my job, you know? 00:28:14.292 --> 00:28:18.353 And it's not just me, it's all of the workers here. 00:28:18.396 --> 00:28:21.194 We go above and beyond 00:28:21.232 --> 00:28:23.826 the call of duty for Republic. 00:28:23.868 --> 00:28:26.598 And at the end, 00:28:26.638 --> 00:28:29.471 Republic cares nothing for us. 00:28:31.309 --> 00:28:34.278 Man #2: We found out that they're gonna shut the plant on Tuesday. 00:28:34.312 --> 00:28:37.543 We don't deserve what they're doing to us, you know? 00:28:37.582 --> 00:28:40.881 It really hurts because, like I said, 00:28:40.919 --> 00:28:42.887 this is my second family. 00:28:42.921 --> 00:28:45.515 So it was... it really hurts. It really hurts. 00:28:45.557 --> 00:28:49.459 I'm gonna miss all of them, you know? 00:28:49.494 --> 00:28:52.463 I'm gonna miss them and I don't think 00:28:52.497 --> 00:28:54.829 anybody on this planet 00:28:54.866 --> 00:28:58.097 deserves what they've done to us. 00:29:05.577 --> 00:29:07.636 Moore: Scenes like this were being repeated 00:29:07.679 --> 00:29:11.740 all over the country, and no one seemed to mind. 00:29:11.783 --> 00:29:14.183 % Zambezi, Zambezi% 00:29:14.219 --> 00:29:17.347 - % Zambezi, Zam. % - Woman: Whoo! 00:29:17.388 --> 00:29:21.256 Moore: The president was enjoying his final year in office. 00:29:21.292 --> 00:29:23.590 But as the economy started to fall apart, 00:29:23.628 --> 00:29:27.758 he decided it was time to roll out the C word. 00:29:27.799 --> 00:29:30.825 Capitalism is the best system ever devised. 00:29:30.869 --> 00:29:32.268 Moore: Huh. Really? 00:29:32.303 --> 00:29:35.568 Voices from the left and right are equating the free enterprise system 00:29:35.607 --> 00:29:39.270 with greed and exploitation and failure. 00:29:39.310 --> 00:29:41.301 Moore: Hmm, greed, 00:29:41.346 --> 00:29:44.509 exploitation, failure? 00:29:44.549 --> 00:29:46.073 Go on, I'm listening. 00:29:46.117 --> 00:29:50.986 Capitalism offers people the freedom to choose 00:29:51.022 --> 00:29:53.582 where they work and what they do... 00:29:53.625 --> 00:29:56.321 Reporter: Pat Andrews has been looking for work. 00:29:56.361 --> 00:30:00.229 Every morning she scans the classifieds in vain. 00:30:00.265 --> 00:30:02.028 There isn't anything in here. 00:30:02.066 --> 00:30:05.001 I'm not gonna be a gentleman's club hired dancer either. 00:30:06.337 --> 00:30:09.829 ...the opportunity to buy or sell products they want. 00:30:09.874 --> 00:30:11.808 Reporter: Tom Rendon has avoided layoffs 00:30:11.843 --> 00:30:14.505 at his sign company in Stockton, California, 00:30:14.546 --> 00:30:16.446 all because this one word now makes up 00:30:16.481 --> 00:30:18.540 for half his business. 00:30:18.583 --> 00:30:22.144 If you seek social justice and human dignity, 00:30:22.187 --> 00:30:26.021 the free market system is the way to go. 00:30:26.057 --> 00:30:27.752 (applause) 00:30:28.893 --> 00:30:32.021 Moore: And for those seeking justice in Pennsylvania, 00:30:32.063 --> 00:30:35.965 free enterprise was definitely the way to go. 00:30:39.470 --> 00:30:41.131 Wilkes-Barre, Pennsylvania, 00:30:41.172 --> 00:30:43.333 has one of the highest rates in the state 00:30:43.374 --> 00:30:47.003 of young people locked up in the juvenile home. 00:30:47.045 --> 00:30:49.377 Perhaps it's because the good people here 00:30:49.414 --> 00:30:51.780 employ the practices of capitalism 00:30:51.816 --> 00:30:55.047 in dealing with their wayward youth. 00:30:55.086 --> 00:30:57.987 The county hired a private profit-making corporation 00:30:58.022 --> 00:31:02.152 with a sweet-sounding name, PA Child Care. 00:31:03.394 --> 00:31:06.329 It was owned and run by two businessmen, 00:31:06.364 --> 00:31:11.028 one of whom was Robert Powell, an attorney and entrepreneur. 00:31:11.069 --> 00:31:13.003 His good friend Judge Conahan 00:31:13.037 --> 00:31:15.403 closed down the public juvenile home 00:31:15.440 --> 00:31:17.374 and then got PA Child Care to build 00:31:17.408 --> 00:31:20.571 an $8 million privately-owned facility 00:31:20.612 --> 00:31:22.512 and charge it back to the county 00:31:22.547 --> 00:31:25.243 for a mere $58 million lease. 00:31:27.185 --> 00:31:30.814 Let's meet some of Wilkes-Barre's juvenile delinquents. 00:31:30.855 --> 00:31:33.153 Magee smoked pot at a high school party. 00:31:33.191 --> 00:31:36.422 I was very rebellious when I was at this age. 00:31:36.461 --> 00:31:39.259 Moore: Matt, he got into an argument at the dinner table. 00:31:39.297 --> 00:31:41.959 I threw a piece of meat, as in steak, 00:31:42.000 --> 00:31:44.468 cooked dinner, at my mother's boyfriend. 00:31:44.502 --> 00:31:46.868 Moore: Jamie got in a fight at a shopping mall 00:31:46.905 --> 00:31:48.167 with her best friend. 00:31:48.206 --> 00:31:51.642 I just figured, you know, we just weren't gonna be friends anymore. 00:31:51.676 --> 00:31:54.201 Moore: And Hillary made a MySpace page 00:31:54.245 --> 00:31:56.406 making fun of her assistant principal 00:31:56.447 --> 00:31:58.938 for being strict and having no sense of humor. 00:31:58.983 --> 00:32:02.419 And it said some pretty silly, like, 14-year-old-girl stuff. 00:32:02.453 --> 00:32:06.184 Moore: Her assistant principal called the police. 00:32:06.224 --> 00:32:10.524 They all appeared before kindly Judge Mark Ciavarella. 00:32:10.561 --> 00:32:13.291 These kids were about to get their first lesson 00:32:13.331 --> 00:32:15.299 in American capitalism: 00:32:15.333 --> 00:32:20.134 Time is money, lots of money. 00:32:20.171 --> 00:32:23.470 I went in front of the court, in front of Mr. Ciavarella, 00:32:23.508 --> 00:32:25.305 and I wasn't even in front of him for four minutes. 00:32:25.343 --> 00:32:27.436 I was only in front of him for, like, two minutes. 00:32:27.478 --> 00:32:31.107 Hillary: The first thing that Judge Ciavarella said to me was, 00:32:31.149 --> 00:32:34.016 "What makes you think you can do this kind of crap?" 00:32:34.052 --> 00:32:36.486 I'm sure he knew in his mind when I walked in 00:32:36.521 --> 00:32:38.284 that he was locking this kid up no matter what. 00:32:38.323 --> 00:32:39.620 He didn't even look at me. 00:32:39.657 --> 00:32:42.626 Once I entered the courtroom, I didn't have any chance. 00:32:42.660 --> 00:32:44.924 There was about six kids who went in front of me. 00:32:44.963 --> 00:32:46.988 Every single kid who went in front of Ciavarella, 00:32:47.031 --> 00:32:50.398 for all different reasons... some minor, some serious... 00:32:50.435 --> 00:32:52.130 got sent away. 00:32:52.170 --> 00:32:56.072 Moore: Although Wilkes-Barre is located in the United States of America, 00:32:56.107 --> 00:33:00.237 here capitalism trumped democracy. 00:33:00.278 --> 00:33:03.509 Robert Powell, one of the owners of PA Child Care, 00:33:03.548 --> 00:33:07.951 cut a business deal with Judge Conahan and Judge Ciavarella. 00:33:07.986 --> 00:33:11.422 Judge Ciavarella then stepped up his conviction rates. 00:33:11.456 --> 00:33:13.185 Many of these kids were funneled 00:33:13.224 --> 00:33:17.991 into PA Child Care's for-profit juvenile facility. 00:33:18.029 --> 00:33:19.428 And for their troubles, 00:33:19.464 --> 00:33:23.662 the judges received over $2.6 million 00:33:23.701 --> 00:33:27.660 while the owners of PA Child Care received tens of millions 00:33:27.705 --> 00:33:30.299 of taxpayer dollars from the county. 00:33:30.341 --> 00:33:33.469 And where did Powell go to enjoy all that money? 00:33:33.511 --> 00:33:35.706 On his private plane 00:33:35.747 --> 00:33:38.807 and his yacht, the "Reel Justice." 00:33:40.485 --> 00:33:45.388 6,500 children were unjustly convicted. 00:33:45.423 --> 00:33:48.824 It was good business while it lasted. 00:33:49.961 --> 00:33:52.828 Reporter #1: Two Luzerne County judges in big trouble with the law. 00:33:52.864 --> 00:33:53.853 They're going to jail. 00:33:53.898 --> 00:33:55.331 Reporter #2: Some kids were locked up 00:33:55.366 --> 00:33:59.632 even when probation officers objected to detention. 00:33:59.670 --> 00:34:02.662 In there you lose track of time and you lose track of the date. 00:34:02.707 --> 00:34:03.935 I was barely keeping track. 00:34:03.975 --> 00:34:07.103 It was supposed to be, like... I believe it was, like, two months. 00:34:07.145 --> 00:34:09.545 And it went from two months to nine months. 00:34:09.580 --> 00:34:12.276 He said originally three to six months, 00:34:12.316 --> 00:34:16.309 but somehow I ended up being there 111/2 months 00:34:16.354 --> 00:34:19.187 and I never went back in front of the judge at all 00:34:19.223 --> 00:34:20.850 for him to give me extensions. 00:34:20.892 --> 00:34:22.689 Moore: Not only did PA Child Care 00:34:22.727 --> 00:34:25.560 pay off the judges to fill their cells, 00:34:25.596 --> 00:34:28.258 but their employees were the ones who got to decide 00:34:28.299 --> 00:34:31.700 when a child had enough rehabilitation. 00:34:31.736 --> 00:34:35.069 But that makes sense, because any time a governmental unit 00:34:35.106 --> 00:34:37.666 turns over to a profit-making corporation 00:34:37.708 --> 00:34:40.108 the duties it should be performing, 00:34:40.144 --> 00:34:42.169 what do you expect to happen? 00:34:42.213 --> 00:34:44.807 Matt: It makes me feel like an item that they just used 00:34:44.849 --> 00:34:47.249 to just get money and then tossed me aside. 00:34:47.285 --> 00:34:51.745 I'm just trying to work on my flying 00:34:51.789 --> 00:34:53.984 and just trying to prepare for my future 00:34:54.025 --> 00:34:57.256 so I can put this all behind me, finally be done with all this. 00:34:57.295 --> 00:34:59.763 During the whole trial I wasn't in control at all, 00:34:59.797 --> 00:35:02.231 but with flying it's only me. 00:35:02.266 --> 00:35:04.734 It's just that I just get to do everything by myself. 00:35:04.769 --> 00:35:06.794 I'm the only one on the control. 00:35:06.838 --> 00:35:08.669 Moore: Matt loves to fly 00:35:08.706 --> 00:35:11.971 and hopes to become a pilot someday. 00:35:12.009 --> 00:35:14.637 If he does, he'll get his second lesson 00:35:14.679 --> 00:35:17.273 in capitalism: 00:35:17.315 --> 00:35:20.341 That in America, sometimes you're better off 00:35:20.384 --> 00:35:22.820 working at Mickey D's. 00:35:22.820 --> 00:35:25.380 - (applause, cheering) - Remember Sully? 00:35:25.423 --> 00:35:26.754 Captain Sullenberger, 00:35:26.791 --> 00:35:29.817 who safely landed an airbus in the Hudson River 00:35:29.861 --> 00:35:32.887 - saving the lives of 150 passengers? - (patriotic music playing) 00:35:32.930 --> 00:35:35.797 - Man: A true American hero. - (applause) 00:35:38.936 --> 00:35:41.837 Moore: He met the mayor. He went to the State of the Union. 00:35:41.873 --> 00:35:44.569 Heck, he even went to the Super Bowl. 00:35:44.609 --> 00:35:46.839 And then he went to Congress. 00:35:46.878 --> 00:35:49.938 Sullenberger: Flying has been my lifelong passion. 00:35:49.981 --> 00:35:52.142 But while I love my profession, 00:35:52.183 --> 00:35:54.879 I do not like what has happened to it. 00:35:54.919 --> 00:35:57.012 - (music halts) - It is my personal experience 00:35:57.054 --> 00:36:00.251 that my decision to remain in the profession I love 00:36:00.291 --> 00:36:04.921 has come at a great financial cost to me and to my family. 00:36:04.962 --> 00:36:07.226 My pay has been cut 40%. 00:36:07.265 --> 00:36:10.928 My pension, like most airline pensions, has been terminated. 00:36:10.968 --> 00:36:14.495 So please do not think I exaggerate when I say that I do not know 00:36:14.539 --> 00:36:17.838 a single professional airline pilot who wants his or her children 00:36:17.875 --> 00:36:19.467 to follow in their footsteps. 00:36:19.510 --> 00:36:22.240 Moore: Whoa, you cleared the room with that one, Sully. 00:36:22.280 --> 00:36:24.578 I don't think the congressmen wanted to hear that stuff. 00:36:24.615 --> 00:36:27.550 - They like you as a hero. - The current experience... 00:36:27.585 --> 00:36:30.076 (patriotic music over dialogue) 00:36:42.133 --> 00:36:44.192 Moore: What was your starting pay as a pilot? 00:36:44.235 --> 00:36:46.533 I made $19,000 the first year. 00:36:46.571 --> 00:36:50.029 I was bumped up to about 22,000 or 23,000 the second year. 00:36:50.074 --> 00:36:52.702 Last year, gross pay 00:36:52.743 --> 00:36:55.177 I made $17,600. 00:36:55.213 --> 00:36:57.807 There's a joke in the airline when we get our wings pinned on us 00:36:57.848 --> 00:37:01.306 as new-hire airline pilots that the company just kinda says, 00:37:01.352 --> 00:37:04.116 "Hey, don't apply for food stamps in your uniform." 00:37:04.155 --> 00:37:07.022 Moore: I don't know about you, but I want the pilot 00:37:07.058 --> 00:37:10.858 who's got me 30,000 feet up in the air to be paid really well 00:37:10.895 --> 00:37:13.955 and not sitting up in the cockpit digging through the pilot's seat 00:37:13.998 --> 00:37:15.989 looking for loose change. 00:37:16.033 --> 00:37:18.001 There was a period of about four months 00:37:18.035 --> 00:37:20.799 where I was on food stamps. 00:37:20.838 --> 00:37:22.328 - You were on food stamps? - Yes. 00:37:22.373 --> 00:37:25.137 - And you were still flying the plane? - Yes. 00:37:25.176 --> 00:37:27.542 With my... with my food stamp card. 00:37:27.578 --> 00:37:30.342 The lady I talked to in the food stamp office, 00:37:30.381 --> 00:37:33.316 when I told her I was a pilot, she didn't bat an eye, 00:37:33.351 --> 00:37:35.683 but she didn't... I knew she didn't believe me. 00:37:35.720 --> 00:37:38.348 Moore: How have you gotten by? How have you been able to afford things? 00:37:38.389 --> 00:37:40.983 Relying on credit cards to buy the groceries at times 00:37:41.025 --> 00:37:42.754 - when I wasn't on food stamps. - Oh, really? 00:37:42.793 --> 00:37:45.091 I have about $10,000 in credit card debt 00:37:45.129 --> 00:37:47.120 just on the necessities, 00:37:47.164 --> 00:37:49.724 not on the big-screen TV and the stereo. 00:37:49.767 --> 00:37:52.964 Moore: You're using it to buy your groceries and get by. 00:37:53.004 --> 00:37:54.938 - Yes. - Do you have any student loan debt? 00:37:54.972 --> 00:37:56.667 - Yes. - How much? 00:37:56.707 --> 00:37:58.265 Mine is about 80,000. 00:37:58.309 --> 00:38:01.710 - I took out $100,000. - Moore: Student loans? 00:38:01.746 --> 00:38:04.613 And by the time I pay it back, at this rate, 00:38:04.649 --> 00:38:07.015 it'll probably cost me well over a half a million with interest 00:38:07.051 --> 00:38:09.611 and fees and penalties. 00:38:09.654 --> 00:38:11.884 It's something that I don't... I don't like to spend a lot of time 00:38:11.922 --> 00:38:13.617 thinking about because it's abysmal. 00:38:13.658 --> 00:38:16.126 It's one way that I get down really quickly 00:38:16.160 --> 00:38:17.821 about my chosen career field 00:38:17.862 --> 00:38:20.296 is to think about how much I owe and how little I make. 00:38:20.331 --> 00:38:23.232 Moore: Have you had to work a second job to make ends meet? 00:38:23.267 --> 00:38:25.633 I walk dogs on the side, 00:38:25.670 --> 00:38:28.867 I distribute MonaVie Juice. 00:38:28.906 --> 00:38:32.171 I have known pilots to donate plasma 00:38:32.209 --> 00:38:34.040 for extra cash. 00:38:34.078 --> 00:38:36.945 - You mean they give blood? - They... well... 00:38:36.981 --> 00:38:39.609 So they can make extra money even though they're flying an airplane? 00:38:39.650 --> 00:38:41.641 Yeah. They donate their plasma. 00:38:41.686 --> 00:38:45.952 So they get the blood back, but you can get paid for plasma. 00:38:45.990 --> 00:38:47.287 - (chuckles) - Oh, I see. 00:38:47.325 --> 00:38:49.122 They suck the blood out of you, take the plasma... 00:38:49.160 --> 00:38:50.627 - Give you the blood back. ...give you the... 00:38:50.661 --> 00:38:52.526 Oh, well then, not such a bad deal. 00:38:52.563 --> 00:38:56.055 The only reason people stay flying is because they love it. 00:38:56.100 --> 00:38:57.965 And managements take advantage of that. 00:38:58.002 --> 00:39:01.335 The airlines have managed to farm out 00:39:01.372 --> 00:39:05.775 a lot of the flying to commuters 00:39:05.810 --> 00:39:09.007 in an effort to basically bust the unions. 00:39:09.046 --> 00:39:11.139 You can't compete 00:39:11.182 --> 00:39:15.414 to a lower and lower level every year 00:39:15.453 --> 00:39:17.853 without skimping on safety somehow. 00:39:20.157 --> 00:39:24.958 Moore: At approximately 10:15 PM on February 12, 2009, 00:39:24.995 --> 00:39:27.725 Continental connection flight 3407 00:39:27.765 --> 00:39:30.359 began its descent to the airport in Buffalo. 00:39:30.401 --> 00:39:32.096 (sirens wailing) 00:39:32.136 --> 00:39:34.001 Man: Stand by, there's some ground communication, 00:39:34.038 --> 00:39:35.938 either state police or sheriff's department. 00:39:35.973 --> 00:39:37.668 We need to find out if anything is on the ground. 00:39:37.708 --> 00:39:40.108 This aircraft was five miles out, and all of a sudden 00:39:40.144 --> 00:39:41.975 we have no response to that aircraft. 00:39:42.012 --> 00:39:45.004 All I could tell you is there was an aircraft over the marker 00:39:45.049 --> 00:39:48.075 and we're not talking to them now. 00:39:48.119 --> 00:39:50.280 Moore: No one survived the crash 00:39:50.321 --> 00:39:53.256 and 50 people lost their lives. 00:39:54.792 --> 00:39:58.057 The media focused on the actions of the pilots. 00:39:58.095 --> 00:40:01.155 Reporter: Captain Marvin Renslow and First Officer Shaw 00:40:01.198 --> 00:40:03.428 were chatting about their careers. 00:40:03.467 --> 00:40:05.833 Moore: "Careers" is a euphemism 00:40:05.870 --> 00:40:08.270 for what the pilots were really talking about: 00:40:08.305 --> 00:40:12.435 How little they were paid and how overworked they were. 00:40:12.476 --> 00:40:14.569 There would be no discussion in the media 00:40:14.612 --> 00:40:16.876 about why we have an economic system 00:40:16.914 --> 00:40:20.543 that allows a pilot to be paid less than a manager at Taco Bell. 00:40:20.584 --> 00:40:21.983 Reporter: First Officer Shaw 00:40:22.019 --> 00:40:25.648 made between $16,000 and $20,000 a year 00:40:25.689 --> 00:40:29.250 and at one point worked a second job. 00:40:29.293 --> 00:40:31.727 Moore: Her second job had been waitressing 00:40:31.762 --> 00:40:33.753 at a coffee shop. 00:40:35.065 --> 00:40:38.592 How are these companies able to get away with this? 00:40:38.636 --> 00:40:41.332 (laughs) I guess that's the point of capitalism. 00:40:41.372 --> 00:40:44.136 It allows you to get away with anything, 00:40:44.175 --> 00:40:47.545 like making a profit off the death of an employee. 00:40:49.113 --> 00:40:51.479 Sweetie, I can open it. Let's try it with this. 00:40:51.515 --> 00:40:53.574 Moore: This is Irma Johnson. 00:40:53.617 --> 00:40:56.586 Irma's husband Dan worked in middle management 00:40:56.620 --> 00:40:58.781 at Amegy Bank in Houston, Texas. 00:40:58.823 --> 00:41:00.882 - Wanna try to spread it? - No. 00:41:00.925 --> 00:41:03.450 Moore: Dan recently died of cancer, 00:41:03.494 --> 00:41:07.726 leaving behind Irma and their two sons. 00:41:07.765 --> 00:41:10.325 But unbeknownst to Irma, Amegy had taken out 00:41:10.367 --> 00:41:14.326 a secret life insurance policy on Dan's life. 00:41:14.371 --> 00:41:18.603 The bank generously named itself as the beneficiary 00:41:18.642 --> 00:41:21.133 in the event of Dan's death. 00:41:21.178 --> 00:41:24.306 The insurance company then accidentally informed Irma 00:41:24.348 --> 00:41:28.478 that Amegy Bank had received a check for $11/2 million 00:41:28.519 --> 00:41:31.454 just weeks after Dan died. 00:41:31.489 --> 00:41:33.286 Thank you for helping. 00:41:33.324 --> 00:41:34.382 Johnson: They never told me. 00:41:34.425 --> 00:41:37.952 I wanted to find out, well, why did they purchase a policy for him? 00:41:37.995 --> 00:41:39.929 - Moore: You didn't know about it? - No. 00:41:39.964 --> 00:41:43.627 And they named themselves as the beneficiary. 00:41:43.667 --> 00:41:44.656 Yeah. 00:41:44.702 --> 00:41:46.863 Moore: So your husband's death 00:41:46.904 --> 00:41:49.873 made them $1.5 million richer? 00:41:49.907 --> 00:41:52.171 Mm-hmm. 00:41:52.209 --> 00:41:55.736 I know it's not right for them to try to profit 00:41:55.779 --> 00:41:58.213 from my husband's death. 00:41:58.249 --> 00:42:00.046 When I first realized what was happening, 00:42:00.084 --> 00:42:04.145 I was in disbelief. 00:42:04.188 --> 00:42:06.918 - It's hurtful. - I'm so sorry. 00:42:08.392 --> 00:42:09.825 Um... 00:42:12.329 --> 00:42:15.924 it's hurtful and I wanted answers. 00:42:15.966 --> 00:42:18.628 Moore: Irma contacted Michael D. Myers, 00:42:18.669 --> 00:42:21.160 a local attorney who had already been looking into 00:42:21.205 --> 00:42:24.504 these kind of corporate insurance policies on their employees. 00:42:25.910 --> 00:42:28.504 With the normal use of life insurance, where you're guarding against 00:42:28.546 --> 00:42:33.108 the loss of a loved one or a breadwinner of the family, 00:42:33.150 --> 00:42:37.553 you don't want that person to die. 00:42:37.588 --> 00:42:39.749 With these policies, the companies that buy these 00:42:39.790 --> 00:42:41.655 want the employees to die 00:42:41.692 --> 00:42:44.388 in accordance with the policy projections. 00:42:44.428 --> 00:42:48.330 You are more valuable dead to a company than alive. 00:42:49.633 --> 00:42:53.125 American Greetings, RR Donnelly & Sons, and Proctor & Gamble 00:42:53.170 --> 00:42:55.934 are all having problems with mortality. 00:42:55.973 --> 00:42:58.464 These four combined programs are running at 50% 00:42:58.509 --> 00:42:59.999 of expected mortality. 00:43:00.044 --> 00:43:03.502 These clients are acutely aware of this problem. 00:43:03.547 --> 00:43:06.243 Basically here the broker is complaining 00:43:06.283 --> 00:43:08.683 that not enough employees are dying. 00:43:08.719 --> 00:43:12.416 And therefore the investment returns are not matching the projections. 00:43:12.456 --> 00:43:14.890 The broker writes that NCC is running 00:43:14.925 --> 00:43:17.621 at 78% of expected mortality. 00:43:17.661 --> 00:43:21.529 Okay, so 78% of the people we expected to die died. 00:43:21.565 --> 00:43:24.796 But the problem with that is three of them were suicides. 00:43:24.835 --> 00:43:26.962 And you can't count on that every year. 00:43:27.004 --> 00:43:29.029 Moore: Can you think of any other situation 00:43:29.073 --> 00:43:33.407 were you'd actually want people to die? 00:43:33.444 --> 00:43:37.642 Combatants in war, I guess. 00:43:37.681 --> 00:43:41.481 Wow, when do you want people to die? 00:43:41.518 --> 00:43:43.145 I-I don't know. 00:43:43.187 --> 00:43:46.987 War situations, terrorism situations. 00:43:48.926 --> 00:43:51.622 Drug trials, perhaps. I don't know. 00:43:51.662 --> 00:43:54.256 I don't know. That's an odd question. 00:43:54.298 --> 00:43:57.529 Moore: I didn't understand how any of this could be legal. 00:43:57.568 --> 00:44:00.401 After all, there's a reason that there's a law 00:44:00.437 --> 00:44:04.840 prohibiting me from taking out a fire insurance policy on your house 00:44:04.875 --> 00:44:09.107 because I have a vested interest in your house burning down. 00:44:09.146 --> 00:44:12.274 Since Attorney Myers had been researching this for years, 00:44:12.316 --> 00:44:14.375 I asked him which companies were profiting 00:44:14.418 --> 00:44:16.215 from these insurance policies. 00:44:16.253 --> 00:44:17.686 I don't know, you don't know, 00:44:17.721 --> 00:44:20.349 because there's no place you can go and find out 00:44:20.391 --> 00:44:24.020 whether your company is a purchaser 00:44:24.061 --> 00:44:26.359 - of these types of products. - Which ones do you know? 00:44:26.397 --> 00:44:28.092 The ones that we know that have slipped out are 00:44:28.132 --> 00:44:30.157 Bank of America, Citibank, 00:44:30.200 --> 00:44:33.499 Wal-Mart, Winn-Dixie, Proctor & Gamble, 00:44:33.537 --> 00:44:35.664 McDonnell Douglas, Hershey, 00:44:35.706 --> 00:44:38.675 Nestle, AT&T, Southwestern Bell, 00:44:38.709 --> 00:44:40.768 Ameritech, American Express... 00:44:40.811 --> 00:44:42.870 - This is blue chip you're talking about. - Yeah. 00:44:42.913 --> 00:44:46.110 These aren't fly-by-night companies trying to do a scam here 00:44:46.150 --> 00:44:48.311 so they can collect a check if one of their employees dies. 00:44:48.352 --> 00:44:51.651 There are probably several million Americans 00:44:51.689 --> 00:44:55.523 who are covered by one of these policies or have been at some point. 00:44:55.559 --> 00:44:56.821 There's a lot of it out there. 00:44:56.860 --> 00:44:59.021 Moore: This is Paul Smith. 00:44:59.063 --> 00:45:02.624 He used to be what is known as a loyal employee. 00:45:02.666 --> 00:45:06.898 Smith: I worked for Wal-Mart for 18 years and I gave them 110%. 00:45:06.937 --> 00:45:08.700 I mean, I loved that company. 00:45:08.739 --> 00:45:10.229 And as it turned out, Wal-Mart took out 00:45:10.274 --> 00:45:13.334 over 350,000 life insurance policies 00:45:13.377 --> 00:45:15.504 on rank and file associates. 00:45:15.546 --> 00:45:16.740 These weren't executives. 00:45:16.780 --> 00:45:20.216 These were people like my wife, a cake decorator for 18 months. 00:45:20.250 --> 00:45:23.845 That's the type of people they were taking insurance policies out on. 00:45:23.887 --> 00:45:27.880 Moore: Paul's wife LaDonna left her job at the Wal-Mart bakery 00:45:27.925 --> 00:45:30.723 so she could be a stay-at-home mom for her two kids. 00:45:30.761 --> 00:45:33.924 Smith: She had asthma real real bad. 00:45:33.964 --> 00:45:35.898 She went into the emergency room one night 00:45:35.933 --> 00:45:37.901 and a nurse comes out and says, "Are you Mr. Smith?" 00:45:37.935 --> 00:45:39.425 And I said, "Yes." 00:45:39.470 --> 00:45:43.531 And she said, "We don't think your wife's gonna make it." 00:45:43.574 --> 00:45:45.542 Moore: LaDonna slipped into a coma 00:45:45.576 --> 00:45:47.908 from which she would never awaken. 00:45:47.945 --> 00:45:50.106 Her family rushed to the hospital, 00:45:50.147 --> 00:45:52.581 even though there was nothing they could do to help. 00:45:52.616 --> 00:45:55.176 There was a wall here and LaDonna's in the room 00:45:55.219 --> 00:45:56.652 on the other side of the wall. 00:45:56.687 --> 00:45:58.951 And Jessica kept saying, "Where is she?" 00:45:58.989 --> 00:46:01.617 And I said, "She's right on the other side of that wall." 00:46:01.658 --> 00:46:05.253 And Jessica said, "Can we cut a hole in the wall 00:46:05.295 --> 00:46:07.786 so that we can see her?" 00:46:07.831 --> 00:46:09.856 And that just sticks with me. 00:46:09.900 --> 00:46:11.731 Do you remember that? 00:46:13.837 --> 00:46:18.206 Smith: We had to stay in there with her, and so we'd write letters to her. 00:46:18.242 --> 00:46:22.702 "My dear wife, I miss you more than any words can possibly say. 00:46:22.746 --> 00:46:24.304 You are my life. 00:46:24.348 --> 00:46:26.748 You always see beauty in the simplest things. 00:46:26.784 --> 00:46:31.221 I've always admired you for that. I wish I could have told you that more. 00:46:31.255 --> 00:46:33.519 I want you to come back to me soon. 00:46:33.557 --> 00:46:36.549 I still have a lot left to learn from you, baby doll. 00:46:36.593 --> 00:46:38.754 Your loving husband, Paul." 00:46:40.697 --> 00:46:43.131 You okay, Wesley? 00:46:44.535 --> 00:46:47.299 She was 26 years old. 00:46:47.337 --> 00:46:50.272 LaDonna: You're silly. You're silly. 00:46:50.307 --> 00:46:53.970 Myers: The younger a person is, the higher the benefit is 00:46:54.011 --> 00:46:56.809 because they're expected to live longer. 00:46:56.847 --> 00:46:59.042 Women are also expected to live longer than men. 00:46:59.082 --> 00:47:02.051 So the most valuable employee to the company 00:47:02.085 --> 00:47:04.986 if they're dead, is a young woman. 00:47:05.022 --> 00:47:06.614 Moore: LaDonna's death earned 00:47:06.657 --> 00:47:08.887 one of the richest corporations in the world 00:47:08.926 --> 00:47:11.486 an extra $81,000. 00:47:11.528 --> 00:47:14.861 I was faced with over $100,000 worth of medical bills 00:47:14.898 --> 00:47:18.231 and a $6,000 funeral 00:47:18.268 --> 00:47:21.726 and Wal-Mart didn't offer a penny to help with that. 00:47:21.772 --> 00:47:25.037 I did trust them. 00:47:25.075 --> 00:47:28.340 And never in a million years would I have ever thought 00:47:28.378 --> 00:47:31.313 that somewhere on a profit statement, 00:47:31.348 --> 00:47:34.340 "Dead associate, $81,000." 00:47:34.384 --> 00:47:38.377 Wal-Mart doesn't care about you. 00:47:38.422 --> 00:47:40.253 When someone passes away, 00:47:40.290 --> 00:47:43.088 they shouldn't get something out of it. 00:47:53.770 --> 00:47:56.261 Myers: The common denominator to each form of coverage 00:47:56.306 --> 00:47:58.331 is that when the employee dies, 00:47:58.375 --> 00:48:01.606 the employer gets paid the insurance benefits. 00:48:01.645 --> 00:48:04.808 They're often referred to as "dead peasant insurance." 00:48:04.848 --> 00:48:08.409 Moore: Dead peasants? Why'd they use such a creepy name? 00:48:08.452 --> 00:48:11.580 Myers: It's very creepy. I don't know what it means either. 00:48:11.622 --> 00:48:12.782 Dead is clear. 00:48:12.823 --> 00:48:15.553 That's the worker who's passed away, so they're dead. 00:48:15.592 --> 00:48:18.026 Peasant, I don't know why they chose that word. 00:48:18.061 --> 00:48:20.086 I don't know if it has some historical significance 00:48:20.130 --> 00:48:23.122 or that's just the way they view the relative value 00:48:23.166 --> 00:48:24.895 of the employees' lives. 00:48:24.935 --> 00:48:26.527 Dead peasants? 00:48:26.570 --> 00:48:28.697 Yeah, amongst themselves that's what they call it. 00:48:30.274 --> 00:48:34.506 It's insulting to refer to my husband like that. 00:48:34.544 --> 00:48:36.569 (sniffles) 00:48:41.652 --> 00:48:43.210 Moore: It turned out that Amegy Bank 00:48:43.253 --> 00:48:45.949 had a second dead peasant policy on Dan, 00:48:45.989 --> 00:48:49.982 bringing their total take to nearly $5 million. 00:48:52.829 --> 00:48:53.830 - Is capitalism a sin? - Father Dick Preston: Yes. 00:48:53.830 --> 00:48:55.764 - Is capitalism a sin? - Father Dick Preston: Yes. 00:48:55.799 --> 00:48:58.359 Capitalism for me and for many of us 00:48:58.402 --> 00:49:01.735 at this present moment is an evil. 00:49:01.772 --> 00:49:05.538 It's contrary to all that's good. It's contrary to the common good. 00:49:05.575 --> 00:49:07.805 It's contrary to compassion. 00:49:07.844 --> 00:49:10.813 It's contrary to all of the major religions. 00:49:10.847 --> 00:49:14.908 Capitalism is precisely what the holy books, 00:49:14.952 --> 00:49:19.616 our holy books in particular, remind us is unjust 00:49:19.656 --> 00:49:22.625 and in some form and fashion, 00:49:22.659 --> 00:49:27.426 God will come down and eradicate somehow. 00:49:27.464 --> 00:49:29.796 Moore: This was Father Dick Preston, 00:49:29.833 --> 00:49:33.166 the priest from Flint who married my wife and me. 00:49:33.203 --> 00:49:35.364 Preston: Capitalism is wrong, 00:49:35.405 --> 00:49:39.136 and therefore has to be eliminated. 00:49:39.176 --> 00:49:41.167 Moore: Eliminated? 00:49:41.211 --> 00:49:43.202 That might be a little harsh, 00:49:43.246 --> 00:49:45.237 so I decided to go and talk to the priest 00:49:45.282 --> 00:49:47.580 that married my sister and brother-in-law. 00:49:47.617 --> 00:49:49.915 I'm sure he would have a more balanced approach 00:49:49.953 --> 00:49:52.080 when it came to capitalism. 00:49:52.122 --> 00:49:56.058 It is immoral, it is obscene, it is outrageous. 00:49:56.093 --> 00:49:58.823 You know... 00:49:58.862 --> 00:50:01.194 it is really radical evil. 00:50:01.231 --> 00:50:03.529 It's radically evil. 00:50:03.567 --> 00:50:07.094 Moore: Wow, does their boss know that they're talking like this? 00:50:07.137 --> 00:50:10.163 I thought it best to go and check this out with the bishop. 00:50:10.207 --> 00:50:12.471 Bishop Thomas Gumbleton: The system doesn't seem to be 00:50:12.509 --> 00:50:16.275 providing for the well being of all the people. 00:50:16.313 --> 00:50:19.214 And that's what makes it 00:50:19.249 --> 00:50:21.717 almost in its very nature 00:50:21.752 --> 00:50:25.688 something contrary to Jesus who said, 00:50:25.722 --> 00:50:29.249 "Blessed are the poor, woe to the rich." 00:50:29.292 --> 00:50:32.489 That's right out of St. Luke's gospel. 00:50:32.529 --> 00:50:34.827 Moore: How have we put up with this system for so long? 00:50:34.865 --> 00:50:37.026 I mean, it's... they talk about... 00:50:37.067 --> 00:50:41.436 The system has built into it what we call propaganda. 00:50:41.471 --> 00:50:43.701 I'm in awe of propaganda... 00:50:43.740 --> 00:50:46.709 the ability to convince people 00:50:46.743 --> 00:50:49.678 who are victimized by this very system 00:50:49.713 --> 00:50:52.682 to support the system and see it as good. 00:50:52.716 --> 00:50:56.117 We know that American capitalism is morally right 00:50:56.153 --> 00:50:58.314 because its chief elements... 00:50:58.355 --> 00:51:01.415 private ownership, the profit motive 00:51:01.458 --> 00:51:04.484 and the competitive market... are wholesome and good. 00:51:04.528 --> 00:51:07.827 They are compatible with God's laws and the teachings of the Bible. 00:51:08.832 --> 00:51:10.732 Moore: For as long as I can remember, 00:51:10.767 --> 00:51:14.362 I've been told that competition and profit are good things. 00:51:14.404 --> 00:51:16.497 (distorted) They are compatible with God's laws 00:51:16.540 --> 00:51:17.700 and the teachings of the Bible. 00:51:17.741 --> 00:51:21.074 Moore: And if increasing profits means locking up a few kids 00:51:21.111 --> 00:51:23.238 or cashing in on the death of an employee... 00:51:23.280 --> 00:51:26.113 (distorted) Compatible with God's laws and the teachings of the Bible. 00:51:26.149 --> 00:51:29.414 Moore: It is morally right to provide for the stockholders. 00:51:29.453 --> 00:51:31.785 (distorted) They are compatible with God's laws 00:51:31.822 --> 00:51:33.050 and the teachings of the Bible. 00:51:33.090 --> 00:51:36.321 Moore: Debt, eviction and exploitation. 00:51:36.359 --> 00:51:39.817 (distorted) God's laws and the teachings of the Bible. 00:51:39.863 --> 00:51:42.798 Moore: What were we really pledging our allegiance to? 00:51:42.833 --> 00:51:45.768 (distorted) The profit motive. 00:51:45.802 --> 00:51:48.498 Moore: And so all good Americans came to act as if they believed 00:51:48.538 --> 00:51:51.701 our capitalist economic system was compatible 00:51:51.741 --> 00:51:54.073 with the teachings of the Bible. 00:51:56.947 --> 00:51:59.939 (organ music playing) 00:52:02.352 --> 00:52:06.186 When I was a kid, I wanted to be a priest. 00:52:06.223 --> 00:52:08.020 It wasn't because of the fancy getups 00:52:08.058 --> 00:52:10.322 or the Knights of Columbus escorts, 00:52:10.360 --> 00:52:13.659 or even the groovy nuns who were so good to me. 00:52:14.698 --> 00:52:18.225 It was because of the priests who went on the march from Selma, 00:52:18.268 --> 00:52:20.828 or tried to stop the war, 00:52:20.871 --> 00:52:24.329 or devoted their lives to the poor. 00:52:24.374 --> 00:52:28.333 They told me quite clearly what Jesus said, 00:52:28.378 --> 00:52:32.747 that the first shall be last and the last shall be first; 00:52:32.782 --> 00:52:35.478 That the rich man will have a very hard time 00:52:35.519 --> 00:52:37.578 getting into heaven; 00:52:37.621 --> 00:52:41.455 That we will be judged by how we treat the least among us; 00:52:41.491 --> 00:52:44.119 And that there are no people more important to God 00:52:44.161 --> 00:52:46.686 than the poor. 00:52:46.730 --> 00:52:49.255 Since that time, it seems that Jesus got hijacked 00:52:49.299 --> 00:52:52.268 by a lot of people who believe that the son of God 00:52:52.302 --> 00:52:56.671 was sent here to create heaven on earth for the well-to-do. 00:52:56.706 --> 00:52:58.901 I must have missed that part of the Bible 00:52:58.942 --> 00:53:02.241 where Jesus became a capitalist. 00:53:06.550 --> 00:53:08.142 Man: Please tell me, master, 00:53:08.185 --> 00:53:10.949 what must I do to have eternal life? 00:53:10.987 --> 00:53:14.514 Go forth and maximize profits. 00:53:16.359 --> 00:53:19.692 You say the Kingdom of Heaven is at hand, 00:53:19.729 --> 00:53:21.253 but when exactly will it come? 00:53:21.298 --> 00:53:25.496 When you deregulate the banking industry. 00:53:25.535 --> 00:53:28.629 - (voices overlapping) - Help me. 00:53:28.672 --> 00:53:31.197 I've been this way for 20 years. 00:53:33.043 --> 00:53:36.535 I'm sorry, I cannot heal your pre-existing condition. 00:53:38.548 --> 00:53:40.209 He'll have to pay out of pocket. 00:53:43.620 --> 00:53:46.111 Moore: Somehow, I don't think Jesus came to earth 00:53:46.156 --> 00:53:49.319 so he could ring the bell at the New York Stock Exchange. 00:53:49.359 --> 00:53:51.350 And yet, from the very beginning, 00:53:51.394 --> 00:53:54.227 the rich have claimed him for their own. 00:53:54.264 --> 00:53:58.064 When I'm on Wall Street and I realize 00:53:58.101 --> 00:54:02.231 that that's the very nerve center of American capitalism, 00:54:02.272 --> 00:54:05.935 and I realize what capitalism has done 00:54:05.976 --> 00:54:09.605 for working people in America, to me that's a holy place. 00:54:09.646 --> 00:54:10.806 Let me add to it. 00:54:10.847 --> 00:54:14.874 Over the whole duration of the Iraq war and the terror war, 00:54:14.918 --> 00:54:18.752 you look at the world's stock markets and you look at the world economy, 00:54:18.788 --> 00:54:22.747 and despite these horrible pockets of unrest and killing and murdering 00:54:22.792 --> 00:54:25.693 that we've been describing, it's never been better. 00:54:25.729 --> 00:54:27.663 The global economy has never been better 00:54:27.697 --> 00:54:30.325 and the global stock markets have never been better, Jimmy. 00:54:30.367 --> 00:54:32.392 It is either a God-given miracle 00:54:32.435 --> 00:54:34.403 or it has something to do with the victories 00:54:34.437 --> 00:54:36.803 of the spreading world of capitalism or both. 00:54:36.840 --> 00:54:38.774 Moore: They think Wall Street's a holy place. 00:54:38.808 --> 00:54:41.743 What do you think Jesus would think of capitalism? 00:54:41.778 --> 00:54:46.147 I think he would simply refuse to... 00:54:46.182 --> 00:54:49.419 to be part of it. 00:54:50.587 --> 00:54:53.454 Moore: Jesus would refuse to be part of it, 00:54:53.490 --> 00:54:55.458 but he probably had a special place up there 00:54:55.492 --> 00:54:58.427 for whoever leaked a secret Citibank memo 00:54:58.461 --> 00:55:01.828 about their plan to rule the world. 00:55:01.865 --> 00:55:03.856 Back in 2005 and 2006, 00:55:03.900 --> 00:55:06.232 Citigroup wrote three confidential memos 00:55:06.269 --> 00:55:10.729 to their wealthiest investors about how things were going. 00:55:10.774 --> 00:55:13.174 They reached the conclusion that the United States 00:55:13.209 --> 00:55:15.439 was no longer really a democracy, 00:55:15.478 --> 00:55:18.242 but had become a plutonomy... 00:55:18.281 --> 00:55:21.375 a society controlled exclusively by and for the benefit 00:55:21.418 --> 00:55:24.512 of the top 1% of the population 00:55:24.554 --> 00:55:26.647 who now had more financial wealth 00:55:26.690 --> 00:55:30.319 than the bottom 95% combined. 00:55:30.360 --> 00:55:33.591 The memo gloated about the growing gap between rich and poor 00:55:33.630 --> 00:55:37.088 and how they were now the new aristocracy 00:55:37.133 --> 00:55:41.069 and that there was no end in sight for the gravy train they were on. 00:55:41.104 --> 00:55:44.665 There was, though, one problem. 00:55:44.708 --> 00:55:46.232 According to Citigroup, 00:55:46.276 --> 00:55:48.870 the most potent and short-term threat 00:55:48.912 --> 00:55:50.709 would be societies demanding 00:55:50.747 --> 00:55:53.341 a more equitable share of the wealth. 00:55:53.383 --> 00:55:57.752 In other words, the peasants might revolt. 00:55:57.787 --> 00:56:00.153 Citigroup lamented that the non-rich 00:56:00.190 --> 00:56:02.658 might not have much economic power, 00:56:02.692 --> 00:56:06.219 but they do have equal voting power with the rich. 00:56:06.262 --> 00:56:09.231 One person, one vote. 00:56:09.265 --> 00:56:11.927 And that's what really scares them... 00:56:11.968 --> 00:56:14.402 that we can still vote. 00:56:14.437 --> 00:56:17.736 In fact, we have 99% of the votes 00:56:17.774 --> 00:56:20.572 and they only have 1%. 00:56:23.646 --> 00:56:27.605 So why do the 99% put up with this? 00:56:27.650 --> 00:56:31.086 According to Citigroup, it's because the majority of the electorate 00:56:31.121 --> 00:56:33.612 believe that someday they will have a chance 00:56:33.656 --> 00:56:36.181 of becoming well-to-do themselves 00:56:36.226 --> 00:56:39.389 if they just keep trying hard enough. 00:56:41.731 --> 00:56:44.029 The wealthy were pleased that so many people 00:56:44.067 --> 00:56:46.900 had bought in to the American Dream 00:56:46.936 --> 00:56:49.996 while they, the rich, had no intention 00:56:50.039 --> 00:56:52.940 of ever sharing it with anyone. 00:56:52.976 --> 00:56:56.275 I think capitalism is a lot more important than democracy. 00:56:56.312 --> 00:56:58.678 I'm not even a big believer in democracy. 00:56:58.715 --> 00:57:02.310 I always say that democracy is... can be two wolves and a sheep 00:57:02.352 --> 00:57:04.013 deciding on what to have for dinner. 00:57:04.053 --> 00:57:07.284 Moore: This is Stephen Moore... no relation... 00:57:07.323 --> 00:57:09.757 a columnist and an editorial board member 00:57:09.793 --> 00:57:11.556 of "The Wall Street Journal," 00:57:11.594 --> 00:57:15.030 the daily bible of corporate America. 00:57:15.064 --> 00:57:18.124 Look, I'm in favor of people having the right to vote 00:57:18.168 --> 00:57:20.636 and things like that, but you know there are a lot of countries 00:57:20.670 --> 00:57:24.538 that have the right to vote that are still poor. 00:57:24.574 --> 00:57:27.941 Democracy doesn't always lead to a good economy 00:57:27.977 --> 00:57:29.911 or even a good political system. 00:57:29.946 --> 00:57:33.313 With capitalism, you are free to do what you want, 00:57:33.349 --> 00:57:35.408 to make whatever you want out of yourself. 00:57:35.452 --> 00:57:36.976 It doesn't mean you're gonna succeed. 00:57:37.020 --> 00:57:41.423 Remember, the US Constitution does not guarantee happiness. 00:57:41.458 --> 00:57:44.086 Moore: Ah, the Constitution. 00:57:44.127 --> 00:57:47.893 All my life I've heard that America is a capitalist country. 00:57:47.931 --> 00:57:52.197 So I went to see the original Constitution and check out if it was true. 00:57:52.235 --> 00:57:55.671 I'm trying to see where it sets up our economic system, 00:57:55.705 --> 00:57:58.936 like where it says we have a capitalist economy. 00:57:58.975 --> 00:58:01.136 Guard: The jurisdiction. 00:58:01.177 --> 00:58:02.974 - Judicial part of the... - Down there? 00:58:03.012 --> 00:58:06.812 Moore: There was no mention of free market or free enterprise 00:58:06.850 --> 00:58:09.444 or capitalism anywhere. 00:58:10.487 --> 00:58:13.752 In fact, all I saw was "We the people," 00:58:13.790 --> 00:58:16.384 something about "a more perfect union," 00:58:16.426 --> 00:58:19.793 and "promoting the general welfare." 00:58:19.829 --> 00:58:24.323 Welfare, union, we? 00:58:24.367 --> 00:58:26.767 That sounded like that other -ism. 00:58:26.803 --> 00:58:30.239 But no, that's democracy. 00:58:30.273 --> 00:58:31.975 And I began to wonder, "What would it be like 00:58:31.975 --> 00:58:32.999 And I began to wonder, "What would it be like 00:58:33.042 --> 00:58:36.375 if the workplace was a democracy?" 00:58:36.412 --> 00:58:39.745 There's always been a big separation between how the country is run 00:58:39.782 --> 00:58:43.013 and how businesses are supposed to run. 00:58:43.052 --> 00:58:44.246 Moore: It's true. 00:58:44.287 --> 00:58:46.152 There seems to be a disconnect 00:58:46.189 --> 00:58:48.521 between our professed love of democracy 00:58:48.558 --> 00:58:51.584 and how we're so willing to accept a dictatorship 00:58:51.628 --> 00:58:54.495 every day we show up to work. 00:58:54.531 --> 00:58:58.331 It's not that way at Isthmus Engineering in Wisconsin. 00:58:58.368 --> 00:59:02.202 They design and build robotic machines for industry. 00:59:02.238 --> 00:59:05.401 It's a $15 million-a-year business. 00:59:05.441 --> 00:59:07.238 Man: All of the workers 00:59:07.277 --> 00:59:10.610 are the owners of the business. 00:59:10.647 --> 00:59:14.208 Moore: He's not talking about some bullshit stock option. 00:59:14.250 --> 00:59:17.651 He means they're the true owners. 00:59:17.687 --> 00:59:20.520 Man: And it's a democratically-run operation where every member 00:59:20.557 --> 00:59:23.526 has one vote and an equal say. 00:59:23.560 --> 00:59:25.824 - All in favor? - All in favor? 00:59:25.862 --> 00:59:28.888 Man: It takes the money out of the equation. 00:59:28.932 --> 00:59:30.957 Moore: By taking the money out of the equation 00:59:31.000 --> 00:59:33.230 so that they can call the shots, 00:59:33.269 --> 00:59:35.601 they end up making more money. 00:59:35.638 --> 00:59:38.266 Cool, huh? 00:59:41.945 --> 00:59:44.743 And how patriotic that they want to extend 00:59:44.781 --> 00:59:48.615 their love of American democracy to their job. 00:59:54.924 --> 00:59:56.858 Just imagine if the place where you worked 00:59:56.893 --> 01:00:00.056 was run by you and your fellow workers. 01:00:00.096 --> 01:00:01.961 You probably wouldn't lay off your coworkers 01:00:01.998 --> 01:00:04.933 to increase the value of your stock, would you? 01:00:04.968 --> 01:00:06.435 Or give yourself a pay raise 01:00:06.469 --> 01:00:09.336 while making your coworkers take a pay cut. 01:00:09.372 --> 01:00:11.237 Man: We don't really do that here. 01:00:11.274 --> 01:00:14.869 You really can't because everyone else would be looking at you 01:00:14.911 --> 01:00:17.471 saying, "Why is this guy so fricking greedy?" 01:00:17.513 --> 01:00:20.107 You know, it would be too obvious. 01:00:20.149 --> 01:00:22.014 The bottom line is you've got plenty of people 01:00:22.051 --> 01:00:23.848 who roll up their sleeves every day and go to work. 01:00:23.886 --> 01:00:25.786 But if there's someone way up there on the chain 01:00:25.822 --> 01:00:28.848 that collects all the extra money, that's not fair. 01:00:28.891 --> 01:00:32.657 Moore: Huh, fairness in the workplace... 01:00:32.695 --> 01:00:35.027 what a novel idea. 01:00:36.466 --> 01:00:39.697 Out in California, there's a bread factory 01:00:39.736 --> 01:00:43.297 where workers make thousands of loaves of bread every day 01:00:43.339 --> 01:00:45.330 Man: The more hours you work towards 01:00:45.375 --> 01:00:46.672 the benefit of the co-op, 01:00:46.709 --> 01:00:49.576 the more you share in the profits. 01:00:49.612 --> 01:00:51.807 Man #2: The workers are happy here. 01:00:51.848 --> 01:00:54.316 No big Is, little yous. Everyone's the same. 01:00:54.350 --> 01:00:57.842 Me as the CEO, I get the same share 01:00:57.887 --> 01:00:59.912 that anybody else does. 01:00:59.956 --> 01:01:01.753 And that has proven 01:01:01.791 --> 01:01:04.123 to be very lucrative for us as workers. 01:01:05.962 --> 01:01:10.524 Moore: Assembly-line workers here earn over $65,000 a year, 01:01:10.566 --> 01:01:12.659 more than three times the pay 01:01:12.702 --> 01:01:15.262 for a starting pilot at American Eagle. 01:01:15.304 --> 01:01:18.102 Man: I'm just hoping that people take notice 01:01:18.141 --> 01:01:20.302 of this type of organizational activity 01:01:20.343 --> 01:01:23.744 and start considering it as an alternative. 01:01:23.780 --> 01:01:25.111 Why do you want to get rich? 01:01:25.148 --> 01:01:27.082 How many cars do you really need in life? 01:01:27.116 --> 01:01:31.712 Moore: Clearly, he's not a car guy, but that's okay. 01:01:31.754 --> 01:01:35.281 His bread factory and hundreds of other worker-owned businesses 01:01:35.324 --> 01:01:38.919 are proof that people aren't always motivated by profit. 01:01:38.961 --> 01:01:41.759 (fanfare) 01:01:41.798 --> 01:01:44.426 Announcer: An historic victory over a dread disease. 01:01:44.467 --> 01:01:47.834 Moore: Instead of using his genius to make a ton of money, 01:01:47.870 --> 01:01:51.135 Dr. Jonas Salk spent all of his time 01:01:51.174 --> 01:01:53.665 putting monkey kidneys in a blender 01:01:53.710 --> 01:01:55.769 trying to find a cure for polio. 01:01:55.812 --> 01:02:00.681 And when he did, he decided to give it away for free. 01:02:00.717 --> 01:02:03.777 This man could have been rich many times over 01:02:03.820 --> 01:02:07.153 had he sold his vaccine to a pharmaceutical company. 01:02:07.190 --> 01:02:09.624 But he thought his talents should be used 01:02:09.659 --> 01:02:10.853 for the greater good. 01:02:10.893 --> 01:02:13.828 And the decent salary he made as a doctor 01:02:13.863 --> 01:02:16.263 and a research professor was enough for him to live 01:02:16.299 --> 01:02:18.358 a comfortable life. 01:02:18.401 --> 01:02:20.801 Who owns the patent on this vaccine? 01:02:20.837 --> 01:02:22.805 Well, the people, I would say. 01:02:22.839 --> 01:02:26.400 There is no patent. Would you patent the sun? 01:02:26.442 --> 01:02:30.276 Moore: Yes, we've come a long way since the days of Dr. Salk. 01:02:30.313 --> 01:02:34.443 Because today our best minds are used for something else. 01:02:34.484 --> 01:02:35.251 Where do we send our top math and science people? 01:02:35.251 --> 01:02:38.516 Where do we send our top math and science people? 01:02:38.554 --> 01:02:39.885 Into finance. 01:02:39.922 --> 01:02:42.390 They don't go into science in America. 01:02:42.425 --> 01:02:45.121 They go to Wall Street. 01:02:45.161 --> 01:02:48.221 Moore: Today's students, unlike in Dr. Salk's time, 01:02:48.264 --> 01:02:50.824 can graduate from college with a student loan debt 01:02:50.867 --> 01:02:53.893 of up to $100,000 or more. 01:02:53.936 --> 01:02:56.234 These students are then beholden to the banks 01:02:56.272 --> 01:02:59.241 for the next 20 years. 01:02:59.275 --> 01:03:02.108 And the best way for them to pay off these banks 01:03:02.145 --> 01:03:04.079 is to go to work for them 01:03:04.113 --> 01:03:06.741 instead of working for the common good. 01:03:06.783 --> 01:03:11.152 Black: We've taken people that could be enormously productive... 01:03:11.187 --> 01:03:12.814 just what we're short of in America... 01:03:12.855 --> 01:03:15.881 and we take them and we put them in an activity 01:03:15.925 --> 01:03:17.916 that isn't simply less productive, 01:03:17.960 --> 01:03:20.758 but where they're actually destructive; 01:03:20.797 --> 01:03:24.597 where actually every day they work, they make the world worse. 01:03:24.634 --> 01:03:27.694 Moore: So what exactly were the top students from Harvard 01:03:27.737 --> 01:03:29.728 and other schools working on these days? 01:03:29.772 --> 01:03:31.797 Derivatives... derivatives... derivatives... derivatives... 01:03:31.841 --> 01:03:34.241 Credit default swaps. 01:03:34.277 --> 01:03:36.302 I can't make any sense out of this. 01:03:36.345 --> 01:03:38.108 I might as well quit. 01:03:38.147 --> 01:03:40.047 Moore: That's exactly how I felt 01:03:40.082 --> 01:03:42.243 when I started hearing these new terms. 01:03:42.285 --> 01:03:46.415 So I went down to the New York Stock Exchange to get some answers. 01:03:46.455 --> 01:03:48.184 Sir, can you explain derivatives to me? 01:03:48.224 --> 01:03:50.454 Can anybody explain derivatives or credit default swaps? 01:03:50.493 --> 01:03:51.721 Can someone explain to me what these are? 01:03:51.761 --> 01:03:53.991 Sir, can you tell me what a credit default swap is? 01:03:54.030 --> 01:03:55.554 Can you explain a derivative to me? 01:03:55.598 --> 01:03:57.065 Can you tell me what a derivative is? 01:03:57.099 --> 01:03:59.363 - Nobody'll talk to me. - I'm just a blue-collar guy. 01:03:59.402 --> 01:04:01.063 I can see that. Hey. 01:04:01.103 --> 01:04:03.628 - I'm looking for some advice. - Yeah, good. 01:04:03.673 --> 01:04:06.801 You guys got any advice for me here? 01:04:06.843 --> 01:04:08.834 A derivative? Credit default swap? 01:04:08.878 --> 01:04:10.345 (sighs) 01:04:10.379 --> 01:04:12.904 Moore: I did find one guy on Wall Street 01:04:12.949 --> 01:04:14.780 who wasn't a film critic. 01:04:14.817 --> 01:04:18.184 Marcus Haupt is an Ivy League educated engineer 01:04:18.221 --> 01:04:20.849 who was a vice president of Lehman Brothers 01:04:20.890 --> 01:04:23.381 and spent 15 years on Wall Street 01:04:23.426 --> 01:04:26.452 creating what they call complex financial instruments. 01:04:26.495 --> 01:04:27.985 What is a derivative? 01:04:28.030 --> 01:04:30.123 A derivative is a secondary bet 01:04:30.166 --> 01:04:31.963 on an underlying product. 01:04:32.001 --> 01:04:34.026 So you may have a stock and you have an option on that stock. 01:04:34.070 --> 01:04:37.301 And that option on that stock allows you the privilege 01:04:37.340 --> 01:04:39.706 but not the obligation to buy or sell. 01:04:39.742 --> 01:04:42.768 How should we put this? You are allowed to make a decision 01:04:42.812 --> 01:04:45.303 of whether or not you want to ultimately take that exposure. 01:04:45.348 --> 01:04:47.908 Let me explain it another way. The derivative's price 01:04:47.950 --> 01:04:49.941 is based on the price of something else. 01:04:49.986 --> 01:04:51.920 It's kind of like a second-degree equation. 01:04:51.954 --> 01:04:54.684 If you think of, let's say... 01:04:54.724 --> 01:04:58.160 um, maybe I should go back. 01:04:58.194 --> 01:05:00.355 Let me start this over again. Let's go back here. 01:05:01.430 --> 01:05:04.024 Moore: I was lost. 01:05:04.066 --> 01:05:06.762 Maybe there's someone at Harvard University 01:05:06.802 --> 01:05:08.429 who could explain it to me. 01:05:08.471 --> 01:05:10.905 Yeah, the... the... the... 01:05:10.940 --> 01:05:13.875 the... the... the... the buyer... 01:05:13.910 --> 01:05:17.073 so the seller holds the loan and it might default. 01:05:17.113 --> 01:05:20.310 And they sell off... 01:05:20.349 --> 01:05:23.113 somebody... somebody else... 01:05:23.152 --> 01:05:26.121 Sorry, let me just back up. 01:05:26.155 --> 01:05:29.852 I apologize. These are pretty exotic. 01:05:29.892 --> 01:05:31.917 Moore: Derivatives are nothing more 01:05:31.961 --> 01:05:34.191 than complicated betting schemes. 01:05:34.230 --> 01:05:37.165 Here's what the math equation of one looks like. 01:05:37.199 --> 01:05:39.030 Can't figure it out? 01:05:39.068 --> 01:05:41.559 That's okay. You're not supposed to. 01:05:41.604 --> 01:05:43.868 They've made them purposely confusing 01:05:43.906 --> 01:05:45.965 so they can get away with murder. 01:05:46.008 --> 01:05:47.976 Let's say you're a lawyer and you're coming in 01:05:48.010 --> 01:05:49.841 and you're from the government and you're trying to evaluate 01:05:49.879 --> 01:05:52.370 if these things violate the tax code or not. 01:05:52.415 --> 01:05:54.315 If you can figure out what they're doing, 01:05:54.350 --> 01:05:56.682 most likely that Wall Street firm will offer you a job. 01:05:56.719 --> 01:06:00.246 Could I go to Wall Street and just ask them 01:06:00.289 --> 01:06:02.382 to set up a derivative on anything? 01:06:02.425 --> 01:06:03.824 Yes. 01:06:03.859 --> 01:06:05.326 Believe me, if it's out there 01:06:05.361 --> 01:06:06.953 there's a derivative on it. 01:06:06.996 --> 01:06:09.487 Moore: So this is what Wall Street has come to... 01:06:09.532 --> 01:06:12.000 an insane casino. 01:06:12.034 --> 01:06:14.525 We've allowed them to bet on anything, 01:06:14.570 --> 01:06:17.807 including our family home. 01:06:23.913 --> 01:06:26.882 Reporter #1:the most powerful central banker of the 20th century. 01:06:26.916 --> 01:06:29.180 Reporter #2: Greenspan has become an economic icon. 01:06:29.218 --> 01:06:32.449 Reporter #3: Alan Greenspan says the economy is hunky-dory. 01:06:32.488 --> 01:06:34.888 Reporter #4: Greenspan gone wild. It's like "Girls Gone Wild." 01:06:34.924 --> 01:06:37.791 What do Mick Jagger and Alan Greenspan have in common? 01:06:37.827 --> 01:06:41.092 Alan Greenspan, who at that moment in time 01:06:41.130 --> 01:06:43.325 was surely thought to be the smartest man 01:06:43.366 --> 01:06:45.129 who had walked the face of the earth, 01:06:45.167 --> 01:06:48.295 he starts using a phrase, "tap your home equity," 01:06:48.337 --> 01:06:51.170 - that Americans can tap their home equity, 01:06:51.207 --> 01:06:53.437 which is just Alan Greenspan-speak 01:06:53.476 --> 01:06:56.411 for "borrow against your home." 01:06:56.445 --> 01:06:58.640 And if you can't repay it you'll lose your house. 01:06:58.681 --> 01:07:02.845 It actually started by talking mostly older Americans, 01:07:02.885 --> 01:07:04.409 people who already had homes, 01:07:04.453 --> 01:07:07.320 into refinancing their homes 01:07:07.356 --> 01:07:09.119 to get them out of houses. 01:07:09.158 --> 01:07:12.992 Moore: Yes, get senior citizens out of their houses. 01:07:13.029 --> 01:07:16.021 The scam to swindle people out of the homes 01:07:16.065 --> 01:07:19.057 they already owned was masterful. 01:07:19.101 --> 01:07:21.626 Here's how it worked. 01:07:21.670 --> 01:07:25.333 First, tell these homeowners that they own a bank. 01:07:25.374 --> 01:07:28.343 And that bank is your home. 01:07:28.377 --> 01:07:32.108 So if your home is worth $250,000, 01:07:32.148 --> 01:07:35.208 that makes you a quarter millionaire. 01:07:35.251 --> 01:07:37.617 You're sitting on a goldmine. 01:07:37.653 --> 01:07:40.554 You own your own bank. 01:07:40.589 --> 01:07:42.887 The bank of you. 01:07:42.925 --> 01:07:46.292 And you can use your bank to get more money. 01:07:46.328 --> 01:07:47.795 Just refinance. 01:07:47.830 --> 01:07:49.525 Everyone's doing it. 01:07:49.565 --> 01:07:52.864 Of course hidden in the dozens or hundreds of pages of fine print 01:07:52.902 --> 01:07:55.166 are tricky clauses that allow the bank to raise your interest rate 01:07:55.204 --> 01:07:56.865 to a number you didn't know about, 01:07:56.906 --> 01:07:58.931 perhaps so high that you won't be able to repay your loan. 01:07:58.974 --> 01:08:00.703 But that's okay. 01:08:00.743 --> 01:08:04.201 If you can't pay it we'll just take your house. 01:08:06.715 --> 01:08:09.047 Of course, before they could take your house 01:08:09.085 --> 01:08:12.054 they needed to change the regulations and the rules. 01:08:12.088 --> 01:08:14.921 Moore: What's this photo I found here? 01:08:14.957 --> 01:08:17.585 It was in an annual report of the FDIC. 01:08:17.626 --> 01:08:22.120 John Gilleran, the head of the Office of Thrift Supervision, 01:08:22.164 --> 01:08:23.688 which is supposed to regulate savings and loans, 01:08:23.732 --> 01:08:26.030 he's the guy with the chainsaw. 01:08:26.068 --> 01:08:28.434 And the four other grinning idiots 01:08:28.471 --> 01:08:32.999 in the photo are the three leading lobbyists in banking 01:08:33.042 --> 01:08:37.001 and the deputy director of the Federal Deposit Insurance Corporation. 01:08:37.046 --> 01:08:41.005 And they're poised over a pile of regulations. 01:08:41.050 --> 01:08:42.813 And this is supposed to demonstrate 01:08:42.852 --> 01:08:45.946 their intention to destroy regulation. 01:08:45.988 --> 01:08:48.456 And they succeeded. 01:08:48.491 --> 01:08:50.356 And now we know what happens 01:08:50.392 --> 01:08:52.519 when you destroy financial regulation. 01:08:52.561 --> 01:08:54.927 You produce a financial catastrophe. 01:08:54.964 --> 01:08:57.592 A growing family with a lot of debt; 01:08:57.633 --> 01:08:59.794 A young couple with no down payment; 01:08:59.835 --> 01:09:02.861 A business owner whose income was hard to document; 01:09:02.905 --> 01:09:05.874 Every one of them was turned down for a home loan 01:09:05.908 --> 01:09:07.466 by three different lenders. 01:09:07.510 --> 01:09:10.775 I'm with Countrywide and I got them all approved. 01:09:10.813 --> 01:09:13.805 Moore: Don't be fooled by the pleasant demeanor 01:09:13.849 --> 01:09:15.510 and blonde hair. 01:09:15.551 --> 01:09:17.951 It's the same pitch the mafia gives you 01:09:17.987 --> 01:09:19.784 in the neighborhood. 01:09:19.822 --> 01:09:21.346 (imitating Brando) I know how you feel. 01:09:21.390 --> 01:09:23.381 You got a lot of debt. 01:09:23.425 --> 01:09:25.586 You don't have any money for the down payment. 01:09:25.628 --> 01:09:27.994 You can't find your documents. 01:09:28.030 --> 01:09:31.227 It's okay. I'll make you a loan you can't refuse. 01:09:31.267 --> 01:09:33.132 It's called subprime. 01:09:33.169 --> 01:09:35.467 You pay no interest now. 01:09:35.504 --> 01:09:37.802 You pay a little more later. 01:09:37.840 --> 01:09:41.298 Don't worry about later. We'll take care of you. 01:09:41.343 --> 01:09:44.506 And like the mafia, Countrywide, 01:09:44.547 --> 01:09:48.176 Citibank, Wells Fargo, Chase... 01:09:48.217 --> 01:09:50.014 Let's go. 01:09:50.052 --> 01:09:52.486 ...they would someday stop by to collect 01:09:52.521 --> 01:09:55.354 and take your home. 01:09:57.726 --> 01:10:01.355 Randy Hacker: I was paying 1,700 a month and making it. 01:10:01.397 --> 01:10:04.025 Then it went to 2,000. Then it went to 2,300. 01:10:04.066 --> 01:10:06.159 Then it went to 2,700. 01:10:06.202 --> 01:10:08.136 Can't do it. 01:10:11.941 --> 01:10:15.968 Moore: These are the Hackers of Peoria, Illinois. 01:10:16.011 --> 01:10:18.605 Randy is a railroad worker 01:10:18.647 --> 01:10:21.411 and Donna works for retirement homes. 01:10:21.450 --> 01:10:25.318 Their farm, which had been in the family for over four decades, 01:10:25.354 --> 01:10:28.721 had been foreclosed on by Citibank. 01:10:28.757 --> 01:10:31.555 Randy had had an accident on the job years ago 01:10:31.594 --> 01:10:33.357 and was now on disability. 01:10:35.965 --> 01:10:40.629 They absolutely just plain fucking stole everything, 01:10:40.669 --> 01:10:42.660 my whole life's savings and everything, 01:10:42.705 --> 01:10:46.573 by a stroke of a pen and a lawyer and a judge. 01:10:46.609 --> 01:10:49.942 Moore: The Hackers showed me the foreclosure notice from Citibank. 01:10:49.979 --> 01:10:51.606 What caught my eye 01:10:51.647 --> 01:10:54.377 was the town from which their mortgage came. 01:10:54.416 --> 01:10:58.045 It turns out that a company owned by the big banks 01:10:58.087 --> 01:11:01.022 has chosen to run 60 million mortgages through, 01:11:01.056 --> 01:11:04.355 of all places, one of the most desperate towns 01:11:04.393 --> 01:11:06.054 in the United States. 01:11:06.095 --> 01:11:08.563 This company hires the people of Flint 01:11:08.597 --> 01:11:10.963 to send out nearly 60% 01:11:11.000 --> 01:11:14.299 of all the foreclosure notices in the country. 01:11:14.336 --> 01:11:17.567 In what seems to be some sort of cruel joke, 01:11:17.606 --> 01:11:20.074 my hometown was now in the service 01:11:20.109 --> 01:11:22.543 of helping to turn the rest of America 01:11:22.578 --> 01:11:24.705 into Flint. 01:11:28.951 --> 01:11:31.943 Typically when a bank forces a family like the Hackers 01:11:31.987 --> 01:11:34.649 out of their home they hire professionals 01:11:34.690 --> 01:11:36.453 to come and clean up the place. 01:11:37.893 --> 01:11:40.157 In this case, the bank figured, 01:11:40.195 --> 01:11:43.926 why pay top dollar when we've got a desperate family 01:11:43.966 --> 01:11:45.991 who will work cheap? 01:11:46.035 --> 01:11:48.162 In a final humiliation 01:11:48.203 --> 01:11:50.398 the Hackers went to work for the bank 01:11:50.439 --> 01:11:52.304 that took their home. 01:11:54.276 --> 01:11:57.006 Donna: "Property is to be turned over in broom-clean condition 01:11:57.046 --> 01:11:59.981 with all trash, debris and personal property removed. 01:12:01.817 --> 01:12:03.785 Upon delivery of the keys 01:12:03.819 --> 01:12:07.414 the PAS representative will hand you a check for $1,000." 01:12:13.062 --> 01:12:16.259 Randy: You know, 1,000 bucks 01:12:16.298 --> 01:12:19.734 to get out of my own house and stuff, 01:12:19.768 --> 01:12:22.828 I really want to thank them. That was really something. 01:12:22.871 --> 01:12:25.635 My wife worked for a week to clean the house up 01:12:25.674 --> 01:12:27.801 and make sure it was presentable to somebody else. 01:12:27.843 --> 01:12:30.471 I'm glad they did that. I have to thank them. 01:12:30.512 --> 01:12:32.480 It was awful nice of them. 01:12:32.514 --> 01:12:35.244 Yeah, I'd like to thank them all right. 01:12:44.259 --> 01:12:46.853 I have one more. 01:12:49.198 --> 01:12:51.928 Oh, that goes to our bedroom door. 01:12:51.967 --> 01:12:54.026 Trying to think what... 01:12:54.069 --> 01:12:56.367 that goes that that. I had a lock on it 01:12:56.405 --> 01:12:58.305 to keep kids out 'cause I have guns. 01:12:58.340 --> 01:13:00.672 And here's your money, Randy. 01:13:00.709 --> 01:13:03.303 Moore: What you're witnessing 01:13:03.345 --> 01:13:04.869 is a robbery. 01:13:06.315 --> 01:13:09.807 I'm starting to understand why people, 01:13:09.852 --> 01:13:12.616 they lose their minds and start shooting people. 01:13:12.654 --> 01:13:15.179 I'm not gonna say I would do something like that, 01:13:15.224 --> 01:13:17.749 but I can see how they get people 01:13:17.793 --> 01:13:19.988 into that situation where 01:13:20.028 --> 01:13:23.486 people go in there with bombs and blow them up 01:13:23.532 --> 01:13:25.466 and shoot at them. 01:13:25.501 --> 01:13:27.594 Anything that happens to them people, they deserve it, 01:13:27.636 --> 01:13:29.399 is all I can say. 01:13:29.438 --> 01:13:31.633 I hope something happens... 01:13:31.673 --> 01:13:34.870 yeah, well. 01:13:34.910 --> 01:13:37.174 Can't say no more. 01:13:41.884 --> 01:13:44.011 Some roadkill right there. 01:13:44.052 --> 01:13:45.781 Moore: This is Bob Feinberg. 01:13:45.821 --> 01:13:49.587 He handled all the VIP loans for Countrywide, 01:13:49.625 --> 01:13:53.561 the nation's largest mortgage company. 01:13:53.595 --> 01:13:55.529 Although Countrywide mainly specializes 01:13:55.564 --> 01:13:58.965 in outrageously high interest loans for low income people, 01:13:59.001 --> 01:14:01.299 Bob's job was to take care of 01:14:01.336 --> 01:14:05.102 some of the country's top political leaders. 01:14:05.140 --> 01:14:07.734 Bob: One day one of the bigger bosses called me in the office. 01:14:07.776 --> 01:14:09.505 He said, "I want you to call this guy." 01:14:09.545 --> 01:14:11.513 I said okay. 01:14:11.547 --> 01:14:14.482 And he said, "He's a friend of Angelo's." 01:14:14.516 --> 01:14:16.984 Angelo Mozilo's the CEO of Countrywide. 01:14:17.019 --> 01:14:21.183 "Give him this rate. Waive these fees. 01:14:21.223 --> 01:14:25.250 And get it locked in. And don't fuck it up." 01:14:25.294 --> 01:14:28.058 And I was like, "Oh, okay." 01:14:29.731 --> 01:14:31.392 So it was a special department 01:14:31.433 --> 01:14:34.061 that handled friends of Angelo. 01:14:35.437 --> 01:14:36.904 Discounts were being given. 01:14:36.939 --> 01:14:38.531 Fees were being waived. 01:14:38.574 --> 01:14:41.600 And at times paperwork was being waived. 01:14:41.643 --> 01:14:45.739 We literally would write on the file "FOA." 01:14:45.781 --> 01:14:48.511 These were really important people. 01:14:48.550 --> 01:14:51.246 I had Richard Holbrooke... Ambassador Holbrooke, 01:14:51.286 --> 01:14:53.481 Donna Shalala, 01:14:53.522 --> 01:14:56.685 people on Capitol Hill, people that regulate the mortgage markets, 01:14:56.725 --> 01:14:58.989 people that regulate Wall Street, 01:14:59.027 --> 01:15:02.258 and Jim Johnson, head of Fannie Mae, 01:15:02.297 --> 01:15:05.164 Alphonso Jackson the secretary of HUD... 01:15:06.768 --> 01:15:09.760 Senator Conrad from the Finance Committee. 01:15:09.805 --> 01:15:12.831 I had the TV on in my house. I was in the kitchen 01:15:12.875 --> 01:15:15.070 and I heard a voice pontificating 01:15:15.110 --> 01:15:17.943 about predatory lending and how we have to put an end to it. 01:15:17.980 --> 01:15:20.244 Our nation's financial regulators 01:15:20.282 --> 01:15:22.011 are supposed to be the cops on the beat 01:15:22.050 --> 01:15:24.450 protecting working Americans 01:15:24.486 --> 01:15:26.215 from unscrupulous financial actions. 01:15:26.255 --> 01:15:28.951 Bob: Senator Dodd... Christopher Dodd... was speaking. 01:15:28.991 --> 01:15:32.654 And I just stared at the television and I was upset. 01:15:32.694 --> 01:15:35.219 Some of these loans have legitimate uses, 01:15:35.264 --> 01:15:37.289 when made to sophisticated borrowers 01:15:37.332 --> 01:15:39.459 with higher incomes. 01:15:39.501 --> 01:15:42.197 I had done a number of loans for him 01:15:42.237 --> 01:15:44.967 in which he got discounts and all the things 01:15:45.007 --> 01:15:46.770 that go with being a friend of Angelo's 01:15:46.808 --> 01:15:48.332 and all the good stuff. 01:15:48.377 --> 01:15:50.345 Moore: The Senate Banking and Housing Committee 01:15:50.379 --> 01:15:53.007 is supposed to be the watchdog of the mortgage industry. 01:15:53.048 --> 01:15:56.313 Senator Dodd is the chairman of this committee 01:15:56.351 --> 01:15:58.979 and has served on it for over 28 years. 01:15:59.021 --> 01:16:01.251 As a friend of Angelo 01:16:01.290 --> 01:16:03.986 he received over $1 million worth 01:16:04.026 --> 01:16:06.620 of discounted loans from Countrywide. 01:16:06.662 --> 01:16:10.428 Someone next door here is selling a toxic 01:16:10.465 --> 01:16:12.695 piece of crap loan to somebody. 01:16:12.734 --> 01:16:16.568 I was required to give the most suitable loan to that VIP. 01:16:16.605 --> 01:16:18.470 Moore: Did you ever feel that 01:16:18.507 --> 01:16:20.600 what you were doing might be bribery? 01:16:20.642 --> 01:16:23.611 Bob: I didn't feel like I was bribing anybody, no. 01:16:23.645 --> 01:16:27.103 I was just doing my job. I was the VIP guy. 01:16:27.149 --> 01:16:28.878 Everyone in the company knew who I was. 01:16:28.917 --> 01:16:30.578 You know, everyone. 01:16:30.619 --> 01:16:33.179 So it was kind of a flattering situation. 01:16:33.221 --> 01:16:36.713 But no, I don't feel like I did anything wrong at all. 01:16:36.758 --> 01:16:39.818 And if I didn't do it, somebody else would have been doing it. 01:16:41.697 --> 01:16:44.222 Moore: That's why we need people like Bill Black, 01:16:44.266 --> 01:16:46.427 one of the bank regulators who uncovered 01:16:46.468 --> 01:16:48.698 the Savings & Loan scandal in the 1980s. 01:16:48.737 --> 01:16:50.864 Something improper happened 01:16:50.906 --> 01:16:53.204 and I bet you the regulators know. 01:16:53.241 --> 01:16:56.176 Moore: One of the leading figures of that scandal, Charles Keating, 01:16:56.211 --> 01:16:59.009 had an idea on what to do with Bill Black 01:16:59.047 --> 01:17:01.538 and sent a memo out with these instructions. 01:17:02.718 --> 01:17:05.744 I asked him who was looking out for us today. 01:17:05.787 --> 01:17:08.415 Where was the FBI in all of this? 01:17:08.457 --> 01:17:11.187 The FBI began publicly warning 01:17:11.226 --> 01:17:13.717 in September 2004 01:17:13.762 --> 01:17:16.993 that there was an epidemic of mortgage fraud 01:17:17.032 --> 01:17:19.227 perpetrated by the banks. 01:17:19.267 --> 01:17:20.928 Epidemic was their word. 01:17:20.969 --> 01:17:23.665 But when 9/11 hit, 01:17:23.705 --> 01:17:26.936 the Bush administration transferred 01:17:26.975 --> 01:17:31.036 at least 500 white-collar FBI specialists 01:17:31.079 --> 01:17:33.877 out of dealing with white-collar crime, 01:17:33.915 --> 01:17:36.349 even though we were entering 01:17:36.385 --> 01:17:38.353 during the entire Bush administration 01:17:38.387 --> 01:17:40.947 the greatest wave of white-collar crime 01:17:40.989 --> 01:17:44.516 in the nation's history, in fact, in the world's history. 01:17:44.559 --> 01:17:47.756 The FBI says that 80% 01:17:47.796 --> 01:17:49.787 of the mortgage fraud losses 01:17:49.831 --> 01:17:52.664 are induced by lender personnel. 01:17:52.701 --> 01:17:53.998 Meaning what? 01:17:54.036 --> 01:17:56.470 Meaning not the borrower 01:17:56.505 --> 01:17:59.633 coming off the street trying to defraud the savings and loan. 01:17:59.675 --> 01:18:03.543 These are frauds led by whoever controls the organization. 01:18:03.578 --> 01:18:06.240 - Right. - It's typically the CEO in other words. 01:18:06.281 --> 01:18:09.307 So did these CEOs think they were gonna get away with it? 01:18:09.351 --> 01:18:11.512 They have gotten away with it. 01:18:13.221 --> 01:18:15.314 Moore: Yes, apparently they did. 01:18:15.357 --> 01:18:18.121 And with the presidential election just around the corner... 01:18:18.160 --> 01:18:21.425 - Define rich. - 5 million. 01:18:21.463 --> 01:18:25.263 ...the elites were worried that their crime spree might come to an end. 01:18:25.300 --> 01:18:28.463 After bilking trillions from the American public 01:18:28.503 --> 01:18:30.130 by repossessing their homes, 01:18:30.172 --> 01:18:32.436 bankrupting them when they got sick 01:18:32.474 --> 01:18:34.738 and convincing them to invest their earnings 01:18:34.776 --> 01:18:38.075 and pensions in the casino known as the stock market, 01:18:38.113 --> 01:18:41.514 the rich decided to make one last heist 01:18:41.550 --> 01:18:44.917 and as their 30-year long party came to an end, 01:18:44.953 --> 01:18:48.445 take as much of the silverware with them as they could. 01:18:48.490 --> 01:18:51.323 But first they needed a distraction. 01:18:51.359 --> 01:18:54.624 And as they learned after 9/11, 01:18:54.663 --> 01:18:57.427 nothing works better in the home of the brave 01:18:57.466 --> 01:19:00.458 than some good old fashioned fear. 01:19:00.502 --> 01:19:04.336 And who better to wheel out for one last scary performance 01:19:04.372 --> 01:19:07.307 than Chicken Little himself? 01:19:07.342 --> 01:19:10.834 Oscar voters, for your consideration. 01:19:10.879 --> 01:19:12.540 Good evening. 01:19:12.581 --> 01:19:15.106 This is an extraordinary period for America's economy. 01:19:15.150 --> 01:19:17.778 The government's top economic experts 01:19:17.819 --> 01:19:20.083 warn that without immediate action by Congress, 01:19:20.122 --> 01:19:23.114 America could slip into a financial panic 01:19:23.158 --> 01:19:26.252 and a distressing scenario would unfold. 01:19:26.294 --> 01:19:29.695 More banks could fail, including some in your community. 01:19:29.731 --> 01:19:32.222 - (thunder rumbling) - The stock market would drop even more, 01:19:32.267 --> 01:19:34.633 which would reduce the value of your retirement account. 01:19:34.669 --> 01:19:37.331 The value of your home could plummet. 01:19:37.372 --> 01:19:39.863 Foreclosures would rise dramatically. 01:19:39.908 --> 01:19:42.138 And if you own a business or a farm, 01:19:42.177 --> 01:19:44.805 you would find it harder and more expensive to get credit. 01:19:44.846 --> 01:19:47.508 More businesses would close their doors 01:19:47.549 --> 01:19:50.109 and millions of Americans could lose their jobs. 01:19:50.152 --> 01:19:52.950 - (screams) - Even if you have good credit history, 01:19:52.988 --> 01:19:55.889 it would be more difficult for you to get the loans you need 01:19:55.924 --> 01:19:58.222 to buy a car or send your children to college. 01:19:58.260 --> 01:20:00.694 And ultimately our country could experience 01:20:00.729 --> 01:20:03.493 - a long and painful recession. - (people screaming) 01:20:03.532 --> 01:20:07.662 Fellow citizens, we must not let this happen. 01:20:07.702 --> 01:20:11.297 Moore: In reality there was no need for this speech, 01:20:11.339 --> 01:20:13.432 because the mainstream media 01:20:13.475 --> 01:20:15.744 had already drunk the Kool-Aid. 01:20:17.112 --> 01:20:19.410 Meltdown. The American financial system 01:20:19.447 --> 01:20:21.005 is rocked to its foundation. 01:20:21.049 --> 01:20:23.381 The giant bank crumbles, stocks plummet. 01:20:23.418 --> 01:20:26.785 - Nightmare on Wall Street. - AIG fights for its life. 01:20:26.822 --> 01:20:28.756 - Blood on the floor. - Armageddon. 01:20:28.790 --> 01:20:31.918 A category-five test of our financial levies. 01:20:31.960 --> 01:20:35.418 What the fuck happened? 01:20:35.463 --> 01:20:37.795 Have you ever seen a dam fail? 01:20:37.833 --> 01:20:41.234 It starts with a little crack, a little seepage. 01:20:41.269 --> 01:20:42.759 Reporter: With overwhelming support, 01:20:42.804 --> 01:20:44.738 Congress struck down the restrictions. 01:20:44.773 --> 01:20:46.707 Big banking is barreling back. 01:20:46.741 --> 01:20:48.766 Black: And it starts eroding 01:20:48.810 --> 01:20:52.541 and it destroys all the internal strength of the dam. 01:20:52.581 --> 01:20:54.242 Reporter: Poison from the housing mess 01:20:54.282 --> 01:20:56.773 seeped deeper and deeper into the banking system. 01:20:56.818 --> 01:20:58.911 Black: And soon the dam works against itself. 01:20:58.954 --> 01:21:00.945 The weight of the dam and the weight of the water 01:21:00.989 --> 01:21:02.354 conspire against it. 01:21:02.390 --> 01:21:04.119 Reporter: Investors were dumping Bear shares 01:21:04.159 --> 01:21:05.649 leading a huge selloff... 01:21:05.694 --> 01:21:07.753 Reporter #2: The stocks of Fannie Mae and Freddie Mac 01:21:07.796 --> 01:21:09.593 were in freefall this morning... 01:21:09.631 --> 01:21:12.498 Black: Then there's kind of a significant flow. 01:21:12.534 --> 01:21:15.970 Reporter: Wall Street's losing streak stretched into its seventh day. 01:21:16.004 --> 01:21:20.031 Black: And then suddenly you've got 60-70 foot sections. 01:21:20.075 --> 01:21:21.235 A dam exploding. 01:21:21.276 --> 01:21:23.005 Reporter: Lehman Brothers, bankrupt. 01:21:23.044 --> 01:21:24.841 Merrill Lynch, sold in haste. 01:21:24.880 --> 01:21:26.814 - Now AIG. - Black: Just crashing. 01:21:26.848 --> 01:21:28.611 Reporter: The market's year long slide 01:21:28.650 --> 01:21:31.278 has brought down some of the biggest blue chips. 01:21:31.319 --> 01:21:33.116 Black: The water starts rushing through. 01:21:33.154 --> 01:21:35.748 Reporter: This morning, Washington Mutual has gone under, 01:21:35.790 --> 01:21:38.258 the largest failure in US banking history. 01:21:38.293 --> 01:21:40.090 Reporter #2: Stocks fell off a cliff. 01:21:40.128 --> 01:21:43.120 The largest single point drop in history. 01:21:45.800 --> 01:21:49.258 Black: It destroys the rest of the dam. 01:21:49.304 --> 01:21:51.101 And the whole failure 01:21:51.139 --> 01:21:53.630 looks like it only takes two minutes. 01:21:53.675 --> 01:21:57.008 But of course, it's that little hole 01:21:57.045 --> 01:21:59.946 that's been there for several years 01:21:59.981 --> 01:22:02.541 that really destroyed it. 01:22:02.584 --> 01:22:06.179 You have this fundamentally unsound system 01:22:06.221 --> 01:22:09.384 built on a foundation of sand 01:22:09.424 --> 01:22:11.551 instead of bedrock. 01:22:11.593 --> 01:22:13.925 And it was rotted from the core. 01:22:15.463 --> 01:22:18.796 It seems like capitalism is just collapsing on itself. 01:22:18.833 --> 01:22:20.562 Who got rich here? 01:22:20.602 --> 01:22:22.934 Lots of people got rich during this time, 01:22:22.971 --> 01:22:27.567 primarily the officers and directors 01:22:27.609 --> 01:22:30.203 of the large banks and savings and loans 01:22:30.245 --> 01:22:32.736 and the specialty non-prime lenders. 01:22:32.781 --> 01:22:36.217 These people became unbelievably rich. 01:22:36.251 --> 01:22:39.550 And members of Congress got rich, 01:22:39.587 --> 01:22:41.384 especially once they left Congress. 01:22:41.423 --> 01:22:44.551 A number of them go and work in the financial institutions. 01:22:44.592 --> 01:22:47.186 Sure, and as do Rubin and Summers. 01:22:47.228 --> 01:22:50.823 Moore: Robert Rubin, a one-time top executive 01:22:50.865 --> 01:22:53.925 at both Citigroup and Goldman Sachs 01:22:53.969 --> 01:22:55.766 champion a change in the law 01:22:55.804 --> 01:22:58.238 that allowed commercial banks to get into new areas 01:22:58.273 --> 01:23:02.039 like investment banking and exotic insurance products. 01:23:03.845 --> 01:23:05.972 This made it legal to let Citicorp 01:23:06.014 --> 01:23:07.777 merge with Travelers Group, 01:23:07.816 --> 01:23:10.842 a deal valued at $70 billion, 01:23:10.885 --> 01:23:13.217 creating the world's largest bank. 01:23:13.254 --> 01:23:16.121 After leaving the Clinton administration, 01:23:16.157 --> 01:23:17.954 Rubin worked for Citigroup, 01:23:17.993 --> 01:23:22.555 earning more than $115 million. 01:23:22.597 --> 01:23:24.588 Summers made his money where? 01:23:24.632 --> 01:23:28.398 Summers made his money as a supposed consultant 01:23:28.436 --> 01:23:31.428 and in giving speeches 01:23:31.473 --> 01:23:33.805 at apparently, in some cases, 01:23:33.842 --> 01:23:36.970 over $100,000 a pop. 01:23:37.012 --> 01:23:40.675 Moore: Summers also made $5.2 million at his part-time job, 01:23:40.715 --> 01:23:43.946 advising a hedge fund. 01:23:43.985 --> 01:23:45.577 Where did Geithner work? 01:23:45.620 --> 01:23:48.453 Geithner has been a failure 01:23:48.490 --> 01:23:50.754 at pretty much everything he's done in life. 01:23:50.792 --> 01:23:55.388 Most of the institutions that destroyed the economy 01:23:55.430 --> 01:23:58.831 were under his direct regulatory authority. 01:23:58.867 --> 01:24:01.165 How did he get the job as Treasury Secretary? 01:24:01.202 --> 01:24:04.194 By completely screwing up his job 01:24:04.239 --> 01:24:07.299 as President of the Federal Reserve Bank of New York. 01:24:07.342 --> 01:24:09.071 That makes no sense. 01:24:09.110 --> 01:24:10.737 Of course, it makes perfect sense. 01:24:10.779 --> 01:24:12.906 This is not new to Washington. 01:24:12.947 --> 01:24:15.415 People who will give you the wrong answer 01:24:15.450 --> 01:24:18.783 but the answer you want are invaluable. 01:24:18.820 --> 01:24:21.152 And they often get promoted 01:24:21.189 --> 01:24:24.158 precisely because they're willing to say 01:24:24.192 --> 01:24:26.660 and do absurd things. 01:24:26.694 --> 01:24:30.528 These are the people that promised us 01:24:30.565 --> 01:24:34.524 that financial deregulation would make all of us rich. 01:24:34.569 --> 01:24:38.039 And these are the people who were personally made rich. 01:24:41.176 --> 01:24:45.272 Moore: It was not surprising that the rich wanted to get richer. 01:24:45.313 --> 01:24:49.079 But now they had come up with a new and brazen way to do it. 01:24:49.117 --> 01:24:53.019 Just back a big truck up to the Department of Treasury 01:24:53.054 --> 01:24:56.546 and take $700 billion of our tax money, 01:24:56.591 --> 01:24:58.582 no questions asked. 01:24:58.626 --> 01:25:02.392 I got Michael Moore here. You know who Michael Moore is, don't you? 01:25:02.430 --> 01:25:05.297 The film director. He's filming me right now. 01:25:05.333 --> 01:25:06.891 - I got my wife on the line. - Oh, hi. 01:25:06.935 --> 01:25:08.698 How are you doing? Baron Hill from Indiana. 01:25:08.736 --> 01:25:10.203 How are you, sir? Good state. 01:25:10.238 --> 01:25:12.069 - We're from Michigan you know? - Yeah. 01:25:12.107 --> 01:25:13.699 How did this collapse happen? 01:25:13.741 --> 01:25:17.973 I got home on a Friday, everything was just fine in terms of the economy. 01:25:18.012 --> 01:25:20.742 I call back after my plane landed in Indiana 01:25:20.782 --> 01:25:23.114 just to check in with my office, 01:25:23.151 --> 01:25:24.982 and all of a sudden we've got this crisis on our hands 01:25:25.019 --> 01:25:27.078 and that I'm gonna have to vote when I come back Monday 01:25:27.122 --> 01:25:30.580 for a multibillion-dollar bailout of the financial industry. 01:25:30.625 --> 01:25:34.561 The word that we got was that if we did not act immediately 01:25:34.596 --> 01:25:39.397 the economy would collapse, no doubt about it. 01:25:39.434 --> 01:25:42.767 I felt that the announcement 01:25:42.804 --> 01:25:45.170 of this crisis in September, 01:25:45.206 --> 01:25:47.071 just a few weeks before election, 01:25:47.108 --> 01:25:48.405 was very suspicious. 01:25:48.443 --> 01:25:51.469 This is when Congress is the most nervous. 01:25:51.513 --> 01:25:53.879 And I thought, "Wait a minute. What's going on here? 01:25:53.915 --> 01:25:56.349 This is not normal." 01:25:56.384 --> 01:25:58.249 Moore: The leadership of Congress 01:25:58.286 --> 01:25:59.878 and the Bush administration 01:25:59.921 --> 01:26:02.253 quickly held a series of private meetings 01:26:02.290 --> 01:26:05.191 with the titans of Wall Street to figure out 01:26:05.226 --> 01:26:07.558 just how much money was needed to cover 01:26:07.595 --> 01:26:11.156 all the bad bets investors had made. 01:26:11.199 --> 01:26:15.260 A deal was cut with Treasury Secretary Henry Paulson, 01:26:15.303 --> 01:26:17.794 the former CEO of Goldman Sachs, 01:26:17.839 --> 01:26:21.707 whose net worth was estimated at $700 million 01:26:21.743 --> 01:26:25.577 when he left Goldman to go and run the Treasury Department. 01:26:25.613 --> 01:26:29.413 I think we saw the best of the United States of America 01:26:29.450 --> 01:26:32.851 in the Speaker's office tonight. 01:26:32.887 --> 01:26:35.879 Moore: The best of America? 01:26:35.924 --> 01:26:39.826 Or did he mean the best of Goldman Sachs? 01:26:39.861 --> 01:26:41.624 The Treasury Department, 01:26:41.663 --> 01:26:43.995 it's basically an arm of Wall Street. 01:26:44.032 --> 01:26:47.092 All the people in charge were from Goldman Sachs. 01:26:47.135 --> 01:26:50.263 We call it Government Goldman in the modern era. 01:26:50.305 --> 01:26:52.466 Moore: That's because there were now numerous 01:26:52.507 --> 01:26:56.273 former Goldman executives inside the Bush Treasury Department, 01:26:56.311 --> 01:26:58.575 as there were under Clinton. 01:26:58.613 --> 01:27:01.514 They worked as powerful lobbyists from the inside 01:27:01.549 --> 01:27:03.847 to abolish financial regulations 01:27:03.885 --> 01:27:06.353 while we paid their salaries. 01:27:06.387 --> 01:27:08.651 Black: Treasury Secretary Paulson... 01:27:08.690 --> 01:27:10.624 he wasn't just randomly at Goldman. 01:27:10.658 --> 01:27:14.150 He was the guy at Goldman who got them big time 01:27:14.195 --> 01:27:17.892 into buying these exotic housing derivatives. 01:27:17.932 --> 01:27:21.390 So he got Goldman in a huge amount of trouble. 01:27:21.436 --> 01:27:23.597 Moore: Insane housing derivatives 01:27:23.638 --> 01:27:26.630 had now destroyed much of Goldman's competition. 01:27:26.674 --> 01:27:29.199 And with the Goldman boys now calling the shots 01:27:29.244 --> 01:27:32.077 inside the government, they would ensure that Goldman 01:27:32.113 --> 01:27:34.843 would end up as the kings of Wall Street 01:27:34.882 --> 01:27:36.315 when the dust settled. 01:27:36.351 --> 01:27:38.080 Black: So the last possible people 01:27:38.119 --> 01:27:40.917 that should be giving advice to Treasury would be Goldman. 01:27:40.955 --> 01:27:42.479 So naturally Paulson, 01:27:42.523 --> 01:27:45.720 former CEO of Goldman, puts them on. 01:27:45.760 --> 01:27:48.456 And what advice do they end up giving? 01:27:48.496 --> 01:27:51.329 Well, to use the taxpayers 01:27:51.366 --> 01:27:53.800 to bail out Goldman 01:27:53.835 --> 01:27:56.702 and other favored financial institutions. 01:27:56.738 --> 01:27:59.730 Well, Secretary Paulson has submitted 01:27:59.774 --> 01:28:01.639 a simple proposal to Congress. 01:28:01.676 --> 01:28:03.871 This is it... three pages. 01:28:03.911 --> 01:28:06.675 It's about $1 billion a word. 01:28:06.714 --> 01:28:08.705 And it is quite simple. 01:28:08.750 --> 01:28:11.878 Secretary Paulson gets the key to the treasury. 01:28:11.919 --> 01:28:15.184 He's gonna start off by borrowing $700 billion 01:28:15.223 --> 01:28:16.713 in the name of the American people, 01:28:16.758 --> 01:28:19.989 maybe more later. And it waives all laws. 01:28:20.028 --> 01:28:22.258 All laws! 01:28:22.297 --> 01:28:25.733 Not even court review. Pretty simple proposal. 01:28:25.767 --> 01:28:29.328 We are in a real crisis situation 01:28:29.370 --> 01:28:31.361 that could mushroom 01:28:31.406 --> 01:28:33.772 into something worse than the Great Depression. 01:28:33.808 --> 01:28:37.403 So I saw fear. One gentleman started to cry. 01:28:37.445 --> 01:28:40.778 People are telling us that it's going to be this gigantic calamity. 01:28:40.815 --> 01:28:42.680 And I'm up for election in two months. 01:28:42.717 --> 01:28:44.480 Eight weeks away from election, 01:28:44.519 --> 01:28:47.147 I don't want to make a mistake. What's the right thing to do? 01:28:47.188 --> 01:28:49.349 Heaven help us. 01:28:49.390 --> 01:28:51.381 If we fail to pass this 01:28:51.426 --> 01:28:54.190 I fear the worst is yet to come. 01:28:54.228 --> 01:28:56.492 And a few members were even told 01:28:56.531 --> 01:29:00.126 that there would be martial law in America if we voted no. 01:29:00.168 --> 01:29:02.329 They were ramming this thing down our throat. 01:29:02.370 --> 01:29:04.395 They wanted us to vote on it right away 01:29:04.439 --> 01:29:07.101 without any kind of thoughtful analysis. 01:29:07.141 --> 01:29:09.200 - No real hearings? - No real hearings. 01:29:09.243 --> 01:29:11.302 And I wasn't about to... 01:29:11.346 --> 01:29:14.474 I got cornered into voting 01:29:14.515 --> 01:29:17.177 for the Iraq resolution based upon some lies 01:29:17.218 --> 01:29:19.118 that they made to me and I wasn't going to go through that again. 01:29:19.153 --> 01:29:22.452 I will not wait on events while danger is gathering. 01:29:22.490 --> 01:29:25.982 I will not stand by as peril draws closer and closer. 01:29:26.027 --> 01:29:28.860 Use fear and then you get done what you want. 01:29:30.898 --> 01:29:33.492 And they created in this window... 01:29:33.534 --> 01:29:36.264 two months before election... this pressure cooker. 01:29:36.304 --> 01:29:39.000 People understand that the House of Representatives 01:29:39.040 --> 01:29:41.668 needs to pass this piece of legislation. 01:29:41.709 --> 01:29:44.644 Mr. Speaker, my message to the American people... 01:29:44.679 --> 01:29:47.671 don't let Congress seal this Wall Street deal. 01:29:47.715 --> 01:29:50.275 These criminals have so much political power 01:29:50.318 --> 01:29:52.752 they can shut down the normal legislative process 01:29:52.787 --> 01:29:55.187 of the highest lawmaking body in this land. 01:29:55.223 --> 01:29:57.157 All the committees that should be scanning 01:29:57.191 --> 01:30:00.319 every word of what is being negotiated are benched. 01:30:00.361 --> 01:30:03.091 And that means the American people are benched too. 01:30:03.131 --> 01:30:05.361 We are constitutionally sworn 01:30:05.400 --> 01:30:07.527 to protect and defend this republic 01:30:07.568 --> 01:30:10.799 against all enemies foreign and domestic. 01:30:10.838 --> 01:30:13.636 They say it's gonna be Y2K all over again. 01:30:13.674 --> 01:30:16.165 This is the same politics of fear we are hearing 01:30:16.210 --> 01:30:18.701 from the fat-cat financial bullies from Wall Street. 01:30:18.746 --> 01:30:21.306 Why aren't we asking Wall Street to clean up its own mess? 01:30:21.349 --> 01:30:24.807 Why aren't we helping American families faced with bankruptcy? 01:30:24.852 --> 01:30:27.946 Why aren't we reducing debts from Main Street instead of Wall Street? 01:30:27.989 --> 01:30:29.820 Is this the United States Congress 01:30:29.857 --> 01:30:32.052 or the board of directors of Goldman Sachs? 01:30:32.093 --> 01:30:34.857 Moore: The night before the vote 01:30:34.896 --> 01:30:37.763 the American people in unprecedented numbers 01:30:37.799 --> 01:30:40.825 flooded Capitol Hill with millions of messages 01:30:40.868 --> 01:30:43.564 demanding that Congress vote no. 01:30:47.041 --> 01:30:49.942 The bailout package was defeated today, 01:30:49.977 --> 01:30:52.207 voted down in the House of Representatives. 01:30:52.246 --> 01:30:53.941 The stock market plunged... 01:30:53.981 --> 01:30:56.643 plunged to the single greatest point loss 01:30:56.684 --> 01:30:58.982 in the Dow average in one day ever. 01:30:59.020 --> 01:31:00.612 The question is this: 01:31:00.655 --> 01:31:03.021 Is the failure of the bailout reason enough 01:31:03.057 --> 01:31:06.254 to vote all the incumbents out of office in five weeks? 01:31:06.294 --> 01:31:08.159 12 votes killed it. 01:31:08.196 --> 01:31:10.391 So did the voices of a lot of the American people 01:31:10.431 --> 01:31:13.764 who called their representatives and said no. 01:31:13.801 --> 01:31:16.167 Then Congress voted no. 01:31:16.204 --> 01:31:18.172 Tonight Congress has left town. 01:31:18.206 --> 01:31:21.073 Moore: It was a rebuke that Congress and Wall Street 01:31:21.108 --> 01:31:23.906 had rarely, if ever, experienced. 01:31:23.945 --> 01:31:27.039 It was what the Citibank memo had warned against: 01:31:27.081 --> 01:31:28.844 That if the peasants ever chose 01:31:28.883 --> 01:31:31.010 to exercise their democratic rights, 01:31:31.052 --> 01:31:34.044 the pillaging by the wealthy would be over. 01:31:34.088 --> 01:31:38.218 So Paulson and company headed back up to Capitol Hill. 01:31:38.259 --> 01:31:41.558 And faster than you can say "Check, please," 01:31:41.596 --> 01:31:45.362 they cut a backroom deal with the help of the Democrats. 01:31:47.101 --> 01:31:48.591 This issue supersedes an election. 01:31:48.636 --> 01:31:50.536 We need to get this right. We need to do it quickly. 01:31:50.571 --> 01:31:52.004 I agree with the secretary. 01:31:52.039 --> 01:31:54.473 It's not gonna openly cost all these hundreds of billions. 01:31:54.509 --> 01:31:56.477 We will recover most of it, maybe all of it. 01:31:56.511 --> 01:31:59.605 Kaptur: The Democrats became 01:31:59.647 --> 01:32:03.174 the delivery man for a bill 01:32:03.217 --> 01:32:05.549 for the Republican president. 01:32:05.586 --> 01:32:09.078 The presidents and presidents- to-be made phone calls 01:32:09.123 --> 01:32:12.251 and members... I know at least two members 01:32:12.293 --> 01:32:14.693 who have an interest in the US Senate, 01:32:14.729 --> 01:32:15.923 and promises were made. 01:32:17.331 --> 01:32:19.526 Moore: Within days, the Congress 01:32:19.567 --> 01:32:21.558 did an amazing about-face 01:32:21.602 --> 01:32:25.663 and gave the banks the 700-plus billion they wanted, 01:32:25.706 --> 01:32:27.571 the people be damned. 01:32:27.608 --> 01:32:30.543 On this vote the yeas are 263, 01:32:30.578 --> 01:32:33.877 the nays are 171. The motion is adopted. 01:32:33.915 --> 01:32:38.249 It was very carefully planned to happen when it did, 01:32:38.286 --> 01:32:42.313 to involve the players that it did. 01:32:42.356 --> 01:32:46.349 The message was carefully handled. 01:32:46.394 --> 01:32:48.419 They had Congress right where they wanted them. 01:32:48.462 --> 01:32:51.590 You don't think it was just happenstance? 01:32:51.632 --> 01:32:53.463 No. 01:32:53.501 --> 01:32:57.062 This was almost like an intelligence operation 01:32:57.104 --> 01:33:00.471 that had to be coordinated at the highest levels. 01:33:00.508 --> 01:33:03.068 This whole fiasco shows you 01:33:03.110 --> 01:33:07.809 that there are some forces... 01:33:07.848 --> 01:33:10.442 That are not democratic. 01:33:10.484 --> 01:33:12.349 Right. That are in control. 01:33:12.386 --> 01:33:15.150 Big time. 01:33:15.189 --> 01:33:18.249 They did a masterful job. Very well executed. 01:33:20.962 --> 01:33:22.190 Do you think it's too harsh 01:33:22.229 --> 01:33:25.630 to call what has happened here a coup d'etat? 01:33:25.666 --> 01:33:27.224 A financial coup d'etat? 01:33:27.268 --> 01:33:30.396 No, because I think that's what's happened. 01:33:30.438 --> 01:33:33.703 - A financial coup d'etat? - Yeah. 01:33:35.476 --> 01:33:37.068 I could agree with that. 01:33:38.412 --> 01:33:40.505 I could agree with that because the people here 01:33:40.548 --> 01:33:42.482 really aren't in charge. 01:33:42.516 --> 01:33:45.007 Wall Street is in charge. 01:33:46.787 --> 01:33:48.812 Where's our money? 01:33:48.856 --> 01:33:51.256 I don't know. 01:33:51.292 --> 01:33:53.624 Reporter: Citigroup is spending $50 million 01:33:53.661 --> 01:33:55.288 on a luxury corporate jet. 01:33:55.329 --> 01:33:57.889 You don't know? But you're the person... 01:33:57.932 --> 01:34:00.924 you're in charge of... they put you in charge to find out. 01:34:00.968 --> 01:34:02.663 Reporter: Goldman Sachs has set aside 01:34:02.703 --> 01:34:05.069 6.8 billion for bonuses. 01:34:05.106 --> 01:34:08.439 But Treasury followed a don't-ask-don't-tell policy. 01:34:08.476 --> 01:34:10.706 They didn't ask the banks 01:34:10.745 --> 01:34:12.975 what they were going to do with the money. 01:34:13.014 --> 01:34:16.609 And not having asked them, the banks are not required to tell. 01:34:16.651 --> 01:34:19.313 AIG poolside meetings at a Valley resort... 01:34:19.353 --> 01:34:20.547 Doesn't make any sense. 01:34:20.588 --> 01:34:23.284 We're getting word that 73 people 01:34:23.324 --> 01:34:26.259 received at least $1 million apiece. 01:34:26.293 --> 01:34:28.420 Why would the Department of Treasury 01:34:28.462 --> 01:34:30.623 not require the banks to tell them 01:34:30.665 --> 01:34:32.257 what they're doing with our money? 01:34:32.299 --> 01:34:35.996 You're going to have to ask Secretary Paulson that question. 01:34:36.037 --> 01:34:38.870 Because I've asked that question 01:34:38.906 --> 01:34:42.137 in my role as head of the Congressional Oversight Panel, 01:34:42.176 --> 01:34:44.269 and so far I haven't gotten an answer. Maybe you'll get a better one. 01:34:44.311 --> 01:34:46.506 (phone ringing) 01:34:46.547 --> 01:34:48.515 Woman: Good afternoon. Hank Paulson's office. 01:34:48.549 --> 01:34:50.073 Yeah, this is Michael Moore. 01:34:50.117 --> 01:34:51.846 I'd like to talk to Mr. Paulson. 01:34:51.886 --> 01:34:53.945 - I'm sorry. Your name again? - Michael Moore. 01:34:53.988 --> 01:34:55.546 - Michael Moore? - Yup. 01:34:55.589 --> 01:34:58.786 - (hangs up) - Hello? Hello? 01:34:58.826 --> 01:35:01.624 This is crazy what they're doing with our money. 01:35:01.662 --> 01:35:04.426 If I could get them to actually give the money back... 01:35:04.465 --> 01:35:06.200 I'd be in favor of that. 01:35:24.085 --> 01:35:26.519 We're here to get the money back for the American people. 01:35:26.554 --> 01:35:28.385 I understand, sir, but you can't come in. 01:35:28.422 --> 01:35:29.855 - Can you just take the bag? - No. 01:35:29.890 --> 01:35:31.448 - Take it up there? - Absolutely not. 01:35:31.492 --> 01:35:33.426 Fill it up. I got more bags. 01:35:33.461 --> 01:35:35.258 10 billion probably won't fit in here. 01:35:35.296 --> 01:35:36.456 You can't help me get the money? 01:35:36.497 --> 01:35:37.657 I can't help you get the money. 01:35:37.698 --> 01:35:39.893 What would happen if I made a run for it right now? 01:35:42.036 --> 01:35:44.596 Moore: So I went to another bank. 01:35:45.806 --> 01:35:46.864 We want our money back. 01:35:46.907 --> 01:35:48.465 I went to all the banks. 01:35:48.509 --> 01:35:50.773 - You've seen this guy? - Yeah. 01:35:50.811 --> 01:35:53.143 Okay, we're here to make a citizen's arrest, actually. 01:35:53.180 --> 01:35:55.580 Just drop it from the windows. 01:35:55.616 --> 01:35:58.176 And everywhere I went... 01:35:59.920 --> 01:36:01.217 I got the same reaction. 01:36:01.255 --> 01:36:03.416 We're actually here to make a citizen's arrest 01:36:03.457 --> 01:36:04.947 of the entire board of directors 01:36:04.992 --> 01:36:06.118 and the executives here. 01:36:06.160 --> 01:36:07.525 Why don't you speak to my supervisor? 01:36:07.561 --> 01:36:09.392 - That's him right here. - Where's he at? 01:36:09.430 --> 01:36:11.227 - In the white shirt? Blue tie? - Yup. 01:36:11.265 --> 01:36:12.630 - That's him. - Receding hairline? 01:36:12.666 --> 01:36:16.227 They're using the money to buy other companies. 01:36:16.270 --> 01:36:18.932 This is our money. 01:36:18.973 --> 01:36:20.998 Oh, this is a police officer. 01:36:21.041 --> 01:36:23.168 I wanted to make a citizen's arrest of the CEO. 01:36:23.210 --> 01:36:25.405 - Mr. Blankfein. - (chuckles) 01:36:25.446 --> 01:36:28.210 But you're here, so maybe you could help me. 01:36:28.249 --> 01:36:31.707 - Let's do it outside. - $170 billion of our taxpayer money. 01:36:31.752 --> 01:36:34.983 - You're not allowed in the building, sir. - But I'm here to make an arrest. 01:36:35.022 --> 01:36:37.422 - I'm here to make an arrest. - Make it outside, sir. 01:36:37.458 --> 01:36:38.891 I can't make it outside. They're upstairs. 01:36:38.926 --> 01:36:40.826 I'll make an arrest, sir. 01:36:40.861 --> 01:36:42.522 You can arrest somebody? 01:36:42.563 --> 01:36:44.360 If you can arrest somebody, I can arrest somebody. 01:36:44.398 --> 01:36:45.797 Sir, leave the building, sir. 01:36:45.833 --> 01:36:47.198 Who else do you want to leave the building? 01:36:47.234 --> 01:36:49.031 Your cameraman and your crew. Come on out, sir. 01:36:49.069 --> 01:36:51.936 They don't speak English. Donde? 01:36:53.574 --> 01:36:56.236 These guys have broken so many laws, you know? 01:36:56.277 --> 01:36:59.872 This is money. It's theft, it's fraud. 01:37:09.390 --> 01:37:11.790 I'm gonna take it back to the US Treasury 01:37:11.826 --> 01:37:13.623 right in this car. 01:37:13.661 --> 01:37:16.289 It's safe. You can trust me. 01:37:17.865 --> 01:37:19.567 (grunts) 01:37:19.733 --> 01:37:23.032 There's just these little hints 01:37:23.070 --> 01:37:27.507 that the unimaginable 01:37:27.541 --> 01:37:32.171 could occur, which is that... 01:37:34.615 --> 01:37:37.709 people in general 01:37:37.751 --> 01:37:40.379 in the United States could actually 01:37:40.421 --> 01:37:43.822 become angry 01:37:43.858 --> 01:37:45.758 at the wealthy. 01:37:45.793 --> 01:37:49.285 Shame on you! Shame on you! 01:37:49.330 --> 01:37:51.491 Shawn: People who became rich in this country 01:37:51.532 --> 01:37:55.628 in the last decades were not even making 01:37:55.669 --> 01:37:59.503 the things that everybody loved. 01:37:59.540 --> 01:38:02.941 They were playing games 01:38:02.977 --> 01:38:05.377 that ended up actually harming everybody. 01:38:05.412 --> 01:38:09.143 (chanting) 01:38:09.183 --> 01:38:13.677 So some kind of disease has entered into the economy. 01:38:15.289 --> 01:38:18.952 Moore: It was unusual for Americans to turn against the rich 01:38:18.993 --> 01:38:22.224 because of the carrot that had always been held out in front of us, 01:38:22.263 --> 01:38:25.460 that we too could be one of them someday. 01:38:25.499 --> 01:38:28.263 People were starting not to believe that. 01:38:28.302 --> 01:38:30.998 And that frightened the rich. 01:38:31.038 --> 01:38:35.134 Because off in the distance they heard something coming 01:38:35.175 --> 01:38:37.837 and it wasn't another dry martini. 01:38:37.878 --> 01:38:40.642 It was the friggin' people. 01:38:42.549 --> 01:38:44.915 We are ready to take this country 01:38:44.952 --> 01:38:47.113 in a fundamentally new direction. 01:38:47.154 --> 01:38:49.748 That's what's happening in America right now. 01:38:49.790 --> 01:38:53.453 Change is what's happening in America. 01:38:53.494 --> 01:38:55.155 Moore: Holy shit. 01:38:55.195 --> 01:38:58.187 This was not what Wall Street wanted. 01:38:58.232 --> 01:39:00.723 What if he won? 01:39:00.768 --> 01:39:03.601 What would happen to their way of life? 01:39:05.439 --> 01:39:07.873 So they did what they always do. 01:39:07.908 --> 01:39:10.069 They threw as much money at him as they could. 01:39:11.779 --> 01:39:15.215 Goldman Sachs became his number-one private contributor 01:39:15.249 --> 01:39:18.082 with nearly $1 million in contributions. 01:39:19.920 --> 01:39:23.515 But yet they still weren't sure what he would do. 01:39:23.557 --> 01:39:26.458 How did he really feel about them 01:39:26.493 --> 01:39:28.963 and their way of life? 01:39:28.963 --> 01:39:32.865 My attitude is that if the economy is good for folks from the bottom up, 01:39:32.900 --> 01:39:34.060 it's gonna be good for everybody. 01:39:37.171 --> 01:39:39.264 Senator Obama is running to spread the wealth. 01:39:39.306 --> 01:39:41.740 Joe the Plumber said to him 01:39:41.775 --> 01:39:44.369 that plan sounded like socialism. 01:39:44.411 --> 01:39:46.811 (Russian music playing) 01:39:47.982 --> 01:39:49.506 Joe: I love America. 01:39:49.550 --> 01:39:53.350 I want to make sure it stays a democracy and not a socialist society. 01:39:56.690 --> 01:40:00.091 I really think he's gonna bring socialism if he gets half a chance. 01:40:00.127 --> 01:40:02.857 I don't trust Obama at all. 01:40:04.465 --> 01:40:06.433 I left Europe four decades ago 01:40:06.467 --> 01:40:08.731 because socialism has killed opportunities there. 01:40:08.769 --> 01:40:12.466 "Someone is going to have to give up a piece of their pie 01:40:12.506 --> 01:40:14.736 so someone else can have more." 01:40:14.775 --> 01:40:16.106 I want all my pie. 01:40:17.578 --> 01:40:20.479 Barack Obama is a socialist, it's that simple. 01:40:24.318 --> 01:40:27.151 Moore: The scare campaign wasn't working. 01:40:27.187 --> 01:40:30.816 In fact, the more they called Obama a socialist, 01:40:30.858 --> 01:40:33.918 the more he went ahead in the polls. 01:40:33.961 --> 01:40:36.657 And by using the word so much, 01:40:36.697 --> 01:40:40.963 it made a new generation curious about what that was. 01:40:41.001 --> 01:40:43.629 For instance, few of them knew 01:40:43.670 --> 01:40:46.366 there was actually a socialist in the United States Senate. 01:40:46.407 --> 01:40:49.638 Of course he was from the gay state of Vermont. 01:40:49.676 --> 01:40:51.041 (moos) 01:40:51.078 --> 01:40:52.773 You say that you're a socialist. Tell me what that means. 01:40:52.813 --> 01:40:54.678 I'm a democratic socialist, 01:40:54.715 --> 01:40:57.445 which means that the function of government is to represent 01:40:57.484 --> 01:40:58.917 middle income and working people 01:40:58.952 --> 01:41:01.318 rather than just the wealthy and the powerful. 01:41:01.355 --> 01:41:03.220 One of the things that we've done here, 01:41:03.257 --> 01:41:06.055 we've become very religious in worshipping greed. 01:41:06.093 --> 01:41:08.425 We put on the front pages of the magazines 01:41:08.462 --> 01:41:10.054 guys who have made billions of dollars. 01:41:10.097 --> 01:41:12.725 We ignore the cops, the firemen, the teachers, the nurses 01:41:12.766 --> 01:41:15.963 who every day are doing so much in improving the lives of people. 01:41:16.003 --> 01:41:17.402 We've got to change our value system. 01:41:17.438 --> 01:41:20.202 Moore: Hmm, that doesn't sound too bad. 01:41:20.240 --> 01:41:24.301 I mean, it sounds like something maybe we should try. 01:41:24.344 --> 01:41:26.039 Within a few months, 01:41:26.080 --> 01:41:28.139 the Rasmussen poll reported 01:41:28.182 --> 01:41:30.776 that only 37% of young adults 01:41:30.818 --> 01:41:33.616 now favor capitalism over socialism. 01:41:33.654 --> 01:41:36.987 I hope the economy will... 01:41:37.024 --> 01:41:39.254 (people cheering) 01:41:39.293 --> 01:41:42.194 At 11:00 we project Barack Obama 01:41:42.229 --> 01:41:44.857 President-Elect of the United States of America. 01:41:44.898 --> 01:41:47.492 (cheering) 01:42:18.565 --> 01:42:20.999 Moore: Just two years earlier 01:42:21.034 --> 01:42:23.229 had anyone predicted this moment, 01:42:23.270 --> 01:42:25.830 they would have been considered crazy. 01:42:27.107 --> 01:42:29.200 But that's how fast things change. 01:42:31.879 --> 01:42:34.370 It was in an instant 01:42:34.414 --> 01:42:38.043 a farewell to the old America. 01:42:41.054 --> 01:42:44.683 The country was electrified by his victory. 01:42:44.725 --> 01:42:47.558 And suddenly people were inspired 01:42:47.594 --> 01:42:50.464 to do things they never would have done before. 01:42:51.365 --> 01:42:53.094 Like the sheriff in Detroit 01:42:53.133 --> 01:42:55.931 who decided it was time to break the law 01:42:55.969 --> 01:42:58.062 in order to help the people. 01:42:58.105 --> 01:43:00.130 Warren Evans: Doesn't it seem kind of strange to you 01:43:00.174 --> 01:43:03.439 they would seek a government bailout? I thought that's not what they do. 01:43:03.477 --> 01:43:06.571 1-0-1 radio. 01:43:06.613 --> 01:43:10.174 I thought the free market is you sink or swim. 01:43:10.217 --> 01:43:13.618 I just saw them sink and cry like babies 01:43:13.654 --> 01:43:16.214 for assistance from everybody else. 01:43:17.391 --> 01:43:21.521 Today I will be stopping all mortgage foreclosure sales 01:43:21.562 --> 01:43:23.223 in Wayne County. 01:43:23.263 --> 01:43:26.892 I cannot in clear conscience allow anymore families 01:43:26.934 --> 01:43:29.459 to lose their homes through foreclosure sales. 01:43:29.503 --> 01:43:32.267 Moore: What must the banks have thought 01:43:32.306 --> 01:43:35.366 seeing the law that was set up to protect their interests 01:43:35.409 --> 01:43:37.138 being subverted? 01:43:37.177 --> 01:43:40.169 Do you think the free market has failed Detroit? 01:43:40.214 --> 01:43:43.445 Well, I mean, I think that the free market failed the country. 01:43:43.483 --> 01:43:45.752 You know, this is crazy. 01:43:45.752 --> 01:43:47.720 Neighborhoods that are completely destroyed 01:43:47.754 --> 01:43:50.086 because too many homes have been foreclosed. 01:43:50.123 --> 01:43:53.183 And then you wonder, is this really America 01:43:53.227 --> 01:43:55.286 or is this a third-world country? 01:43:55.329 --> 01:43:56.819 Exactly what are we doing here? 01:43:56.863 --> 01:44:00.993 Until things get so bad that people can do nothing but protest, 01:44:01.034 --> 01:44:03.002 and then those are called revolutions. 01:44:03.036 --> 01:44:07.029 Moore: And sometimes revolutions begin 01:44:07.074 --> 01:44:08.302 in unlikely places. 01:44:08.342 --> 01:44:10.207 Wake up. 01:44:10.244 --> 01:44:11.905 Moore: Living in the back of a truck 01:44:11.945 --> 01:44:16.143 after a bank foreclosed on the home they had owned for 22 years, 01:44:16.183 --> 01:44:19.584 the Trody family of Miami, with the help of their neighbors, 01:44:19.620 --> 01:44:22.054 took matters into their own hands. 01:44:22.089 --> 01:44:25.081 On behalf of this family and this community, 01:44:25.125 --> 01:44:28.561 we liberate this home for this family. 01:44:28.595 --> 01:44:30.495 Cut the sign down. Take it off. 01:44:30.530 --> 01:44:32.794 - (applause) - Yay! 01:44:32.833 --> 01:44:35.563 When I say community, y'all say power. 01:44:35.602 --> 01:44:36.899 - Community! - Power! 01:44:36.937 --> 01:44:37.995 - Community! - Power! 01:44:38.038 --> 01:44:39.335 - Community! - Power! 01:44:39.373 --> 01:44:40.897 - Community! - Power! 01:44:40.941 --> 01:44:42.738 - Community! - Power! 01:44:42.776 --> 01:44:45.142 Moore: It wasn't long before the guy from the bank 01:44:45.178 --> 01:44:47.373 who had evicted them came back. 01:44:47.414 --> 01:44:49.143 See this? 01:44:49.182 --> 01:44:50.843 I want you to go ahead and take a picture of that. 01:44:50.884 --> 01:44:53.284 You're trespassing. 01:44:53.320 --> 01:44:55.845 We did an eviction here and the people went back inside the property. 01:44:55.889 --> 01:44:58.551 Yes. So I need police assistance. 01:44:58.592 --> 01:45:00.150 When all these houses are empty 01:45:00.193 --> 01:45:02.593 the value of everybody else's house goes down. 01:45:02.629 --> 01:45:05.723 So if you can keep these people in this house 01:45:05.766 --> 01:45:07.996 that will help not only them... 01:45:08.035 --> 01:45:11.004 So you see, the situation is that the people... 01:45:11.038 --> 01:45:13.029 if the bank lets them go back inside, 01:45:13.073 --> 01:45:16.565 then the bank misses the opportunity to sell the house to somebody else. 01:45:16.610 --> 01:45:19.238 The banks are selling so many houses right now. 01:45:19.279 --> 01:45:22.771 Well, if the bank lets everybody get back inside the house for free... 01:45:22.816 --> 01:45:24.750 Then people will have places to live. 01:45:24.785 --> 01:45:27.515 Moore: People fighting back was an unusual sight. 01:45:27.554 --> 01:45:30.580 So nine police cars responded to the call. 01:45:30.624 --> 01:45:32.615 Considering the neighborhood, 01:45:32.659 --> 01:45:34.889 the response time was impressive. 01:45:34.928 --> 01:45:36.828 - You are not in charge. - I'm not saying I'm in charge. 01:45:36.863 --> 01:45:39.354 I'm saying she doesn't want to be isolated. You don't have to answer any questions. 01:45:39.399 --> 01:45:41.594 You don't have to say anything to them, okay? 01:45:41.635 --> 01:45:43.535 Moore: But the Trodys stood their ground. 01:45:43.570 --> 01:45:46.164 We don't have nowhere else to go. 01:45:46.206 --> 01:45:49.107 - This was the backup plan. - We're forced to live inside of a truck. 01:45:49.142 --> 01:45:52.111 This was our plan B. We don't have no plan C. 01:45:52.145 --> 01:45:54.613 That is our grandma and it's not right. 01:45:54.648 --> 01:45:57.139 She's been in this house for 22 years and y'all gonna put her out? 01:45:57.184 --> 01:45:59.175 How do you feel putting people out of their homes 01:45:59.219 --> 01:46:01.346 every single frickin' day? 01:46:01.388 --> 01:46:03.788 You should rather be home instead of do something like that. 01:46:03.824 --> 01:46:07.157 Where is the money the federal government put in the bank? 01:46:07.194 --> 01:46:11.153 We should be telling you that you're trespassing because this is our house. 01:46:11.198 --> 01:46:13.723 (crowd yelling) 01:46:17.504 --> 01:46:20.803 % Rooted like a tree, rooted like a tree% 01:46:20.841 --> 01:46:23.332 % We are here% 01:46:23.377 --> 01:46:26.346 % Stand up strong... % 01:46:26.380 --> 01:46:28.940 Let's go. 01:46:28.982 --> 01:46:31.007 - We did good. We did good. - All right. 01:46:31.051 --> 01:46:34.350 Moore: The police and the man from the bank were sent packing. 01:46:34.388 --> 01:46:36.583 Ain't no power like the power of the people. 01:46:36.623 --> 01:46:38.887 And the power of the people don't stop. Say what? 01:46:38.925 --> 01:46:41.553 Ain't no power like the power of the people. 01:46:41.595 --> 01:46:44.155 And the power of the people don't stop. Say what? 01:46:44.197 --> 01:46:46.859 Don't leave your home. 01:46:46.900 --> 01:46:48.265 Because you know what? 01:46:48.301 --> 01:46:50.565 When those companies say they have your mortgage, 01:46:50.604 --> 01:46:53.539 unless you have a lawyer that can put his finger 01:46:53.573 --> 01:46:56.064 or her finger on that mortgage, you don't have that mortgage. 01:46:56.109 --> 01:47:00.068 And you're gonna find that they can't find the paper up there on Wall Street. 01:47:00.113 --> 01:47:04.106 So I say to the American people, you be squatters in your own homes. 01:47:04.151 --> 01:47:06.676 Don't you leave in Ohio and Michigan, 01:47:06.720 --> 01:47:08.881 in Indiana and Illinois and all these other places 01:47:08.922 --> 01:47:11.015 where our people are being treated like chattel. 01:47:11.057 --> 01:47:14.220 And this Congress is stymied. 01:47:14.261 --> 01:47:15.558 Moore: Wow. 01:47:15.595 --> 01:47:18.393 It's not every day you get to see a member of Congress 01:47:18.432 --> 01:47:21.168 encouraging open rebellion. 01:47:21.168 --> 01:47:23.398 Back in Chicago, 01:47:23.437 --> 01:47:25.803 the workers at Republic Windows & Doors 01:47:25.839 --> 01:47:27.101 had a bright idea. 01:47:28.742 --> 01:47:31.074 They decided that on second thought, 01:47:31.111 --> 01:47:34.308 it wasn't okay to be fired without notice, 01:47:34.347 --> 01:47:37.441 to be denied their vacation and severance pay 01:47:37.484 --> 01:47:40.510 and to have their medical benefits cut off. 01:47:42.622 --> 01:47:45.318 So they came up with a plan. 01:47:45.358 --> 01:47:48.293 Tell Bank of America and the owners of the company 01:47:48.328 --> 01:47:50.819 that it was a new day in America. 01:47:50.864 --> 01:47:52.798 They weren't going to leave the building 01:47:52.833 --> 01:47:56.132 until they were paid what they were owed. 01:47:56.169 --> 01:48:00.128 Yes, it was a good old fashioned sit-down strike. 01:48:02.909 --> 01:48:05.207 Man: We understand that perhaps 01:48:05.245 --> 01:48:08.510 some bad business deals were made. 01:48:08.548 --> 01:48:11.779 But guess what? We don't make business deals. 01:48:11.818 --> 01:48:14.082 We make windows and doors. 01:48:14.120 --> 01:48:16.054 Why should we be punished? 01:48:28.602 --> 01:48:30.934 Moore: The union organizers and the workers 01:48:30.971 --> 01:48:34.668 prepared for a police assault that was sure to come. 01:48:34.708 --> 01:48:37.336 I'm gonna take the chance. 01:48:37.377 --> 01:48:39.277 You're prepared to be arrested? 01:48:39.312 --> 01:48:41.542 I am prepared to be arrested if it's necessary. 01:48:41.581 --> 01:48:45.540 We've been here since yesterday and we aren't going anywhere. 01:48:45.585 --> 01:48:47.416 We are committed to this. 01:48:47.454 --> 01:48:49.786 Moore: It wasn't long before the media showed up. 01:48:49.823 --> 01:48:52.724 And given the mood of the country toward the bailout, 01:48:52.759 --> 01:48:56.718 even the TV anchors had run out of sympathy for the banks. 01:48:56.763 --> 01:49:00.494 In Chicago, a group of factory workers watched like the rest of us 01:49:00.534 --> 01:49:03.162 as taxpayers bailed out the financial industry. 01:49:03.203 --> 01:49:06.468 Now these laid-off workers are demanding Bank of America 01:49:06.506 --> 01:49:09.202 spend some of its bailout money on them. 01:49:09.242 --> 01:49:11.335 It says "Bank Robbers of America." 01:49:11.378 --> 01:49:14.541 Look, if we the taxpayers are going to provide 01:49:14.581 --> 01:49:17.573 a bailout for companies like Bank of America, 01:49:17.617 --> 01:49:20.484 then the least they can do is use those funds 01:49:20.520 --> 01:49:23.011 on American workers and companies. 01:49:23.056 --> 01:49:26.184 Woman: $25 billion to Bank of America. 01:49:26.226 --> 01:49:28.592 How do people sleep at night when they act like that? 01:49:28.628 --> 01:49:30.220 I don't get it. 01:49:30.263 --> 01:49:32.163 Because what's the point of bailing them out 01:49:32.198 --> 01:49:34.860 if there aren't any jobs? 01:49:34.901 --> 01:49:37.426 Moore: The strike went on day after day. 01:49:37.470 --> 01:49:40.234 The police had not yet come. 01:49:40.273 --> 01:49:43.071 But the son of a Chicago steelworker did. 01:49:43.109 --> 01:49:47.273 He just also happened to be the bishop in Chicago. 01:49:47.314 --> 01:49:49.305 Ladies and gentlemen, 01:49:49.349 --> 01:49:51.544 I am Bishop James Wilkowski. 01:49:51.585 --> 01:49:54.782 I know that you are all undergoing 01:49:54.821 --> 01:49:56.846 a great trial. 01:49:56.890 --> 01:49:59.620 You are teaching 01:49:59.659 --> 01:50:02.025 to our young people 01:50:02.062 --> 01:50:04.087 that it is just 01:50:04.130 --> 01:50:07.691 to challenge that which is unfair. 01:50:08.735 --> 01:50:12.831 I grew up on the far southeast side of Chicago 01:50:12.872 --> 01:50:14.601 and I saw what happened 01:50:14.641 --> 01:50:17.974 when all the steel mills disappeared. 01:50:18.011 --> 01:50:20.878 And I saw the impact that it had 01:50:20.914 --> 01:50:22.677 on families. 01:50:22.716 --> 01:50:24.616 But this time 01:50:24.651 --> 01:50:26.710 we are with you. 01:50:26.753 --> 01:50:29.688 And we will not abandon you. 01:50:29.723 --> 01:50:31.714 In the name of the Father and the Son 01:50:31.758 --> 01:50:33.385 and the Holy Spirit. Amen. 01:50:33.426 --> 01:50:35.394 The body of Christ. 01:50:37.697 --> 01:50:39.324 The body of Christ. 01:50:41.868 --> 01:50:43.392 The body of Christ. 01:50:45.739 --> 01:50:48.537 President Obama: When it comes to the situation 01:50:48.575 --> 01:50:51.976 here in Chicago with the workers 01:50:52.012 --> 01:50:55.880 who are asking for the benefits and payments 01:50:55.915 --> 01:50:58.611 that they have earned, I think they're absolutely right. 01:50:58.652 --> 01:51:02.179 (cheering) 01:51:02.222 --> 01:51:05.487 What's happening to them is reflective of what's happening 01:51:05.525 --> 01:51:07.493 across this economy. 01:51:07.527 --> 01:51:10.155 Reporter: He said, "What's happening to them is reflective of what's happening..." 01:51:10.196 --> 01:51:12.130 Reporter #2: He said what is happening to those workers 01:51:12.165 --> 01:51:14.759 is reflective to what's happening across this economy. 01:51:14.801 --> 01:51:17.668 I was watching Obama's press conference this morning. 01:51:17.704 --> 01:51:20.002 I just got out of bed and decided 01:51:20.040 --> 01:51:22.770 the best thing I could do was to feed people. 01:51:22.809 --> 01:51:24.299 So I brought some food. 01:51:24.344 --> 01:51:26.642 - I brought some sandwiches. - Oh, good. 01:51:26.680 --> 01:51:30.480 Moore: In fact, lots of Chicagoans showed up to support the workers. 01:51:30.517 --> 01:51:32.075 Reporter: The workers have become a national symbol 01:51:32.118 --> 01:51:34.143 for thousands of employees laid off across the country. 01:51:34.187 --> 01:51:36.417 Reporter #2: The sit-in has grabbed the attention of politicians 01:51:36.456 --> 01:51:40.085 who believe it exemplifies an imbalance between a Wall Street 01:51:40.126 --> 01:51:43.926 that gets government help and a Main Street that gets the shaft. 01:51:43.963 --> 01:51:45.954 Moore: The question started to be asked: 01:51:45.999 --> 01:51:48.467 Was this is the beginnings of a worker's revolt against Wall Street? 01:51:51.071 --> 01:51:53.198 The people united. 01:51:53.239 --> 01:51:55.298 We'll never be defeated. 01:51:55.341 --> 01:51:59.175 Bail out workers, not the banks. Bail out workers, not the banks. 01:51:59.212 --> 01:52:03.546 Moore: Pledges of financial support and food showed up by the truckload. 01:52:03.583 --> 01:52:06.950 Woman: It's really beyond what we had at first initially imagined. 01:52:06.986 --> 01:52:09.784 And so now we're dreaming a little bit. 01:52:09.823 --> 01:52:12.815 We even had a conversation... well, what if we just tried 01:52:12.859 --> 01:52:14.588 to run the factory like a cooperative? 01:52:14.627 --> 01:52:16.652 We don't have any money. We're not capitalists. 01:52:16.696 --> 01:52:19.790 We're having those kind of conversations 01:52:19.833 --> 01:52:22.563 and the workers are thinking about it and it's a difficult thing 01:52:22.602 --> 01:52:24.866 'cause, you know, if you've been told your whole life 01:52:24.904 --> 01:52:28.203 that things are the way other people tell you they are, 01:52:28.241 --> 01:52:30.232 to be able to think I can make it different 01:52:30.276 --> 01:52:33.370 is quite a big deal. 01:52:35.582 --> 01:52:38.244 We're all over the national news. Everyone is watching you 01:52:38.284 --> 01:52:41.617 because they're so inspired by you. (speaks Spanish) 01:52:44.290 --> 01:52:46.121 Moore: After six days of the sit-in 01:52:46.159 --> 01:52:49.390 Bank of America decided enough was enough. 01:52:49.429 --> 01:52:51.624 Better to pay off these workers now 01:52:51.664 --> 01:52:55.031 and hope their little revolution goes away. 01:52:55.068 --> 01:52:58.799 And so the bank and the company agreed to all the worker's demands. 01:52:58.838 --> 01:53:01.739 Yes we did! Yes we did! 01:53:01.775 --> 01:53:05.438 The average package for each worker 01:53:05.478 --> 01:53:09.346 will be very close to $6,000. 01:53:09.382 --> 01:53:12.613 But this is about more than just money. 01:53:12.652 --> 01:53:16.110 It's about what can be achieved 01:53:16.156 --> 01:53:20.149 when workers organize and stand up for justice. 01:53:20.193 --> 01:53:22.252 Just to fight... fight fight fight fight fight 01:53:22.295 --> 01:53:24.661 just to get the most basic thing 01:53:24.697 --> 01:53:26.460 that people should take for granted 01:53:26.499 --> 01:53:30.299 and that's legally theirs. 01:53:30.336 --> 01:53:34.340 We just fight so hard just for the most basic things in life. 01:53:36.643 --> 01:53:39.771 Moore: It's a fight we knew all too well in Flint, Michigan. 01:53:39.813 --> 01:53:43.180 For it was here that my uncle and his fellow workers 01:53:43.216 --> 01:53:45.946 first brought down the mighty corporate interests 01:53:45.985 --> 01:53:47.646 that dominated their lives. 01:53:49.889 --> 01:53:53.290 It was the day before New Year's Eve in 1936. 01:53:53.326 --> 01:53:56.762 Hundreds of men and women took over the GM factories in Flint 01:53:56.796 --> 01:53:59.128 and occupied them for 44 days. 01:54:01.000 --> 01:54:04.367 They were the first union that beat an industrial corporation. 01:54:04.404 --> 01:54:06.702 And their actions eventually resulted 01:54:06.739 --> 01:54:09.207 in the creation of a middle class. 01:54:09.242 --> 01:54:12.370 But back in these days of the Flint sit-down strike, 01:54:12.412 --> 01:54:16.746 the police and the company thugs were not going to just stand by. 01:54:16.783 --> 01:54:20.378 After a bloody battle one evening, the Governor of Michigan, 01:54:20.420 --> 01:54:23.583 with the support of the President of the United States 01:54:23.623 --> 01:54:27.423 Franklin Roosevelt, sent in the National Guard. 01:54:27.460 --> 01:54:31.487 But the guns of the soldiers weren't used on the workers. 01:54:31.531 --> 01:54:33.192 They were pointed at the police 01:54:33.233 --> 01:54:35.201 and the hired goons, 01:54:35.235 --> 01:54:38.762 warning them to leave these workers alone. 01:54:39.906 --> 01:54:42.739 For Mr. Roosevelt believed that the men inside 01:54:42.775 --> 01:54:46.939 had a right to a redress of their grievances. 01:54:48.281 --> 01:54:51.512 Seven years later, President Roosevelt was too sick 01:54:51.551 --> 01:54:55.385 to go up to the Capitol and give his annual State of the Union Address. 01:54:55.421 --> 01:54:57.252 Ladies and gentlemen, 01:54:57.290 --> 01:55:00.157 the President of the United States. 01:55:00.193 --> 01:55:04.721 It has been my custom to deliver these annual messages in person. 01:55:04.764 --> 01:55:07.790 Moore: So he gave it from the White House over the radio. 01:55:07.834 --> 01:55:10.894 When it was over he asked the newsreel cameras 01:55:10.937 --> 01:55:13.997 to step into his room because he wanted the American people 01:55:14.040 --> 01:55:17.669 to see one particular part of his speech. 01:55:17.710 --> 01:55:21.339 The President of the United States then took the radical step 01:55:21.381 --> 01:55:24.077 of proposing a second Bill of Rights 01:55:24.117 --> 01:55:25.516 to the Constitution. 01:55:25.551 --> 01:55:29.180 In our day certain economic truths 01:55:29.222 --> 01:55:32.419 have become accepted as self-evident. 01:55:32.458 --> 01:55:35.018 A second Bill of Rights 01:55:35.061 --> 01:55:38.827 under which a new basis of security and prosperity 01:55:38.865 --> 01:55:41.129 can be established for all 01:55:41.167 --> 01:55:44.864 regardless of station or race or creed. 01:55:44.904 --> 01:55:47.702 Among these are: 01:55:47.740 --> 01:55:51.699 The right to a useful and remunerative job; 01:55:51.744 --> 01:55:55.202 The right to earn enough to provide adequate food 01:55:55.248 --> 01:55:56.806 and clothing and recreation; 01:55:56.849 --> 01:55:59.374 The right of every farmer 01:55:59.419 --> 01:56:01.853 to raise and sell his products 01:56:01.888 --> 01:56:05.016 at a return which will give him and his family 01:56:05.058 --> 01:56:07.424 a decent living; 01:56:07.460 --> 01:56:11.396 The right of every businessman large and small 01:56:11.431 --> 01:56:14.798 to trade in an atmosphere of freedom, 01:56:14.834 --> 01:56:18.531 freedom from unfair competition and domination 01:56:18.571 --> 01:56:21.699 by monopolies at home or abroad; 01:56:21.741 --> 01:56:25.199 The right of every family to a decent home; 01:56:25.244 --> 01:56:28.873 The right to adequate medical care 01:56:28.915 --> 01:56:32.817 and the opportunity to achieve and enjoy good health; 01:56:32.852 --> 01:56:36.185 The right to adequate protection 01:56:36.222 --> 01:56:39.623 from the economic fears of old age, 01:56:39.659 --> 01:56:42.150 sickness, accidents 01:56:42.195 --> 01:56:44.026 and unemployment; 01:56:44.063 --> 01:56:47.123 The right to a good education. 01:56:47.166 --> 01:56:51.569 All of these rights spell security. 01:56:51.604 --> 01:56:54.630 And after this war is won, 01:56:54.674 --> 01:56:58.041 we must be prepared to move forward 01:56:58.077 --> 01:57:01.171 in the implementation of these rights 01:57:01.214 --> 01:57:04.980 to new goals of human happiness and wellbeing. 01:57:05.018 --> 01:57:09.512 For unless there is security here at home, 01:57:09.555 --> 01:57:14.390 there cannot be lasting peace in the world. 01:57:23.836 --> 01:57:27.135 Moore: Roosevelt would be dead in little over a year. 01:57:29.942 --> 01:57:33.275 He would not live to see the end of the war. 01:57:33.312 --> 01:57:37.146 Nor would there be any enactment of his new Bill of Rights. 01:57:44.624 --> 01:57:47.616 Had he lived and succeeded, 01:57:47.660 --> 01:57:49.992 every American, regardless of race, 01:57:50.029 --> 01:57:53.157 would have had a right to a decent job... 01:57:56.102 --> 01:57:57.694 a livable wage... 01:58:00.273 --> 01:58:01.672 universal health care... 01:58:03.709 --> 01:58:05.438 a good education... 01:58:07.880 --> 01:58:10.041 an affordable home... 01:58:12.185 --> 01:58:14.449 a paid vacation... 01:58:18.257 --> 01:58:20.885 and an adequate pension. 01:58:23.729 --> 01:58:26.323 None of this would come to pass. 01:58:28.401 --> 01:58:32.735 No American would be guaranteed any of this. 01:58:36.342 --> 01:58:38.970 But the people of Europe and Japan 01:58:39.011 --> 01:58:41.707 got every one of these rights. 01:58:41.747 --> 01:58:44.409 How did that happen? 01:58:44.450 --> 01:58:49.183 After the war, the people of Roosevelt's administration 01:58:49.222 --> 01:58:52.191 went overseas to help rebuild Europe. 01:58:52.225 --> 01:58:56.218 During this time new constitutions were written 01:58:56.262 --> 01:59:00.722 for the defeated nations of Germany, Italy and Japan. 01:59:00.766 --> 01:59:03.462 The Italian constitution 01:59:03.503 --> 01:59:06.472 guaranteed all women equal rights. 01:59:06.506 --> 01:59:09.304 And this was 1947. 01:59:09.342 --> 01:59:13.506 The German constitution said that the state has the right 01:59:13.546 --> 01:59:16.982 to take over property and the means of production 01:59:17.016 --> 01:59:18.916 for the common good. 01:59:18.951 --> 01:59:22.011 And here's what we wrote up for the Japanese. 01:59:22.054 --> 01:59:25.455 All workers have a right to organize into a union. 01:59:25.491 --> 01:59:29.325 And academic freedom is guaranteed. 01:59:29.362 --> 01:59:32.229 For the next 65 years 01:59:32.265 --> 01:59:34.324 we would not become the country 01:59:34.367 --> 01:59:36.267 that Roosevelt wanted us to be. 01:59:37.436 --> 01:59:41.099 Instead, we became this... 01:59:48.681 --> 01:59:51.377 I remember thinking during the Katrina flood, 01:59:51.417 --> 01:59:53.351 "Why is it always the poor 01:59:53.386 --> 01:59:55.217 who have to suffer the misery? 01:59:55.254 --> 01:59:57.688 Why isn't it ever Bernie Madoff up on the roof 01:59:57.723 --> 01:59:59.418 screaming for help? 01:59:59.458 --> 02:00:01.221 Or the head of Citibank 02:00:01.260 --> 02:00:04.752 or the hedge fund guys at Goldman Sachs? 02:00:04.797 --> 02:00:07.891 Or the CEO at AIG?" 02:00:07.934 --> 02:00:10.164 It never is these guys, is it? 02:00:10.203 --> 02:00:13.934 It's always those who never got a slice of the pie 02:00:13.973 --> 02:00:16.271 because these men took it all 02:00:16.309 --> 02:00:18.539 and left them with nothing, 02:00:18.578 --> 02:00:20.341 left them to die. 02:00:22.882 --> 02:00:25.680 I refuse to live in a country like this. 02:00:25.718 --> 02:00:27.811 And I'm not leaving. 02:00:41.734 --> 02:00:45.067 We live in the richest country in the world. 02:00:45.104 --> 02:00:48.699 We all deserve a decent job, 02:00:48.741 --> 02:00:52.507 healthcare, a good education, 02:00:52.545 --> 02:00:55.776 a home to call our own. 02:00:55.815 --> 02:00:58.340 We all deserve FDR's dream. 02:00:59.986 --> 02:01:02.250 And it's a crime that we don't have it. 02:01:03.522 --> 02:01:05.149 And we never will, 02:01:05.191 --> 02:01:08.649 as long as we have a system that enriches the few 02:01:08.694 --> 02:01:11.094 at the expense of the many. 02:01:12.765 --> 02:01:15.325 Capitalism is an evil. 02:01:15.368 --> 02:01:17.427 And you cannot regulate evil. 02:01:19.538 --> 02:01:23.338 You have to eliminate it and replace it with something 02:01:23.376 --> 02:01:26.402 that is good for all people. 02:01:26.445 --> 02:01:30.404 And that something is called democracy. 02:01:43.362 --> 02:01:45.887 Crimes have been committed in this building. 02:01:45.931 --> 02:01:48.695 I am here to make a citizen's arrest. 02:01:48.734 --> 02:01:52.226 Please come down and step away from the building. 02:01:52.271 --> 02:01:54.466 Do not be afraid. 02:01:54.507 --> 02:01:57.442 Federal prison is a nice place. 02:02:01.514 --> 02:02:04.483 You know, I can't really do this anymore 02:02:04.517 --> 02:02:07.509 unless those of you who are watching this in the theater 02:02:07.553 --> 02:02:09.612 want to join me. 02:02:09.655 --> 02:02:11.680 I hope you will. 02:02:11.724 --> 02:02:14.454 And please, speed it up. 02:02:16.262 --> 02:02:20.198 % Arise ye workers from your slumber% 02:02:20.232 --> 02:02:23.633 % Arise ye prisoners of want, that's right% 02:02:23.669 --> 02:02:27.799 % For reason in revolt now thunders% 02:02:27.840 --> 02:02:30.741 % Chains of hatred, greed and fear% 02:02:30.776 --> 02:02:35.236 % Away with all your superstitions% 02:02:35.281 --> 02:02:39.274 % Servile masses arise, arise% 02:02:39.318 --> 02:02:43.084 % We'll change henceforth the old tradition% 02:02:43.122 --> 02:02:46.614 % And spurn the dust to win the prize% 02:02:46.659 --> 02:02:50.493 % So comrades, come on and rally% 02:02:50.529 --> 02:02:54.329 % And the last fight let us face% 02:02:54.367 --> 02:02:57.825 % The Internationale% 02:02:57.870 --> 02:03:02.000 % Unites the whole darn human race% 02:03:02.041 --> 02:03:04.271 % So comrades, come on% 02:03:04.310 --> 02:03:06.039 % Let's go rally% 02:03:06.078 --> 02:03:09.809 % And the last fight let us face% 02:03:09.849 --> 02:03:13.250 % The Internationale% 02:03:13.285 --> 02:03:17.551 % Unites the whole darn human race% 02:03:17.590 --> 02:03:21.549 % No more deluded by reaction% 02:03:21.594 --> 02:03:24.995 % On tyrants only we'll make war% 02:03:25.030 --> 02:03:29.262 % The soldiers too will take strike action% 02:03:29.301 --> 02:03:32.327 % They'll break ranks and fight no more% 02:03:32.371 --> 02:03:36.535 % And if those cannibals keep trying% 02:03:36.575 --> 02:03:40.170 % To sacrifice us to their pride% 02:03:40.212 --> 02:03:44.308 % Each at the forge must do their duty% 02:03:44.350 --> 02:03:47.911 % And we'll strike while the iron is hot% 02:03:47.953 --> 02:03:51.980 % So comrades, come on, let's go rally% 02:03:52.024 --> 02:03:55.824 % And the last fight let us face% 02:03:55.861 --> 02:03:59.024 % The Internationale% 02:03:59.064 --> 02:04:03.398 % Unites the whole beautiful human race% 02:04:03.436 --> 02:04:07.236 % So comrades, come on, let's go rally% 02:04:07.273 --> 02:04:11.300 % And the last fight let us face% 02:04:11.343 --> 02:04:14.471 % The Internationale% 02:04:14.513 --> 02:04:20.315 % Unites the whole darn human race. % 02:04:36.068 --> 02:04:39.037 % Jesus Christ was a man% 02:04:39.071 --> 02:04:41.631 % That traveled through the land% 02:04:41.674 --> 02:04:46.873 % A carpenter true and brave% 02:04:46.912 --> 02:04:49.540 % And he said to the rich% 02:04:49.582 --> 02:04:52.107 % Give your goods to the poor% 02:04:52.151 --> 02:04:57.248 % And they laid Jesus Christ in the grave% 02:04:57.289 --> 02:05:00.053 % He went to the sick% 02:05:00.092 --> 02:05:02.890 % And he went to the poor% 02:05:02.928 --> 02:05:05.522 % And he went to the hungry% 02:05:05.564 --> 02:05:08.124 % And the lame% 02:05:08.167 --> 02:05:10.567 % And he said that the meek% 02:05:10.603 --> 02:05:13.470 % Would inherit the whole world% 02:05:13.506 --> 02:05:18.534 % And they laid Jesus Christ in the grave% 02:05:19.712 --> 02:05:21.543 % One day Jesus stopped% 02:05:21.580 --> 02:05:24.378 % At a rich man's door% 02:05:24.416 --> 02:05:29.376 % What must I do to be saved? % 02:05:30.389 --> 02:05:32.550 % Take all you own% 02:05:32.591 --> 02:05:35.025 % And give it to the poor% 02:05:35.060 --> 02:05:40.225 % And they laid Jesus Christ in the grave% 02:05:40.266 --> 02:05:42.757 % When the love of the poor% 02:05:42.801 --> 02:05:45.497 % Shall one day turn to hate% 02:05:45.538 --> 02:05:48.166 % When the patience of the workers% 02:05:48.207 --> 02:05:50.675 % Gives away% 02:05:50.709 --> 02:05:53.735 % It would better for the rich% 02:05:53.779 --> 02:05:56.304 % If they'd never been born% 02:05:56.348 --> 02:06:01.183 % So they laid Jesus Christ in the grave% 02:06:07.092 --> 02:06:09.720 % When Jesus came to town% 02:06:09.762 --> 02:06:12.322 % All the working folks around% 02:06:12.364 --> 02:06:17.597 % Believed what he did say% 02:06:17.636 --> 02:06:20.662 % But bankers and preachers% 02:06:20.706 --> 02:06:22.936 % Nailed him to the cross% 02:06:22.975 --> 02:06:27.969 % And they laid Jesus Christ in the grave% 02:06:28.013 --> 02:06:30.777 % Well, the people held their breath% 02:06:30.816 --> 02:06:33.683 % When they heard about his death% 02:06:33.719 --> 02:06:38.952 % And everybody wondered why% 02:06:38.991 --> 02:06:42.154 % It was the landlord and soldiers% 02:06:42.194 --> 02:06:44.321 % Lawmen they had hired% 02:06:44.363 --> 02:06:49.630 % That nailed Jesus Christ in the sky% 02:06:49.668 --> 02:06:52.501 % We would lay Jesus Christ% 02:06:52.538 --> 02:06:55.166 % In the grave, Lord, Lord% 02:06:55.207 --> 02:06:59.303 % We would lay Jesus Christ in the grave% 02:07:00.312 --> 02:07:02.906 % If Jesus preached today% 02:07:02.948 --> 02:07:05.712 % Like he preached in Galilee% 02:07:05.751 --> 02:07:10.586 % They would lay Jesus Christ in his grave. % 02:07:18.001 --> 02:07:19.586 }}