In Debt We Trust (2006)

Director:

Danny Schechter

Writer:

Danny Schechter (writer)

Genre:

Documentary

Cast

Nina Adams	...	Herself
David Aguilar	...	Himself - Entrepreneur
Roy Barnes	...	Himself - Former governor of Georgia
Steve Barnett	...	Himself - Former credit card executive
Tracy Berry	...	Herself
Michelle Best	...	Herself
Lorraine Bracco	...	Herself
Mildred Brown	...	Herself - Representative for ACORN
George W. Bush	...	Himself (archive footage)
Lou Cherico	...	Himself - Former prosecutor
Dennis Devareaux	...	Himself - Graduate student
Tamara Draut	...	Herself - Analyst
Darrin Elmore	...	Himself - US Navy
Michell Fayez-Olabi	...	Herself - Foreclosure victim
Daniel Gross	...	Himself - Computer expert
Orrin G. Hatch	...	Himself (archive footage)
Michael Hudson	...	Himself - Economist
Sheila Jackson Lee	...	Herself
Danita Jacobs	...	Herself - NM Relief Society
Charles Juntikka	...	Himself - Bankruptcy attorney
Ray Kelly	...	Himself (archive footage)
Ted Kennedy	...	Himself (archive footage)
Doug Lebda	...	Himself - Founder Lendingtree.com
Marcel LeDu	...	Himself
Sarah Ludwig	...	Herself - Founder of NEDAP
Dr. Robert D. Manning	...	Himself
Amelia Martin	...	Herself - Interviewee
Christina Murray	...	Herself - Director of Navy Marine Corps Relief Society
Josh Nassar	...	Himself - Lobbyist
Mary Paskiewicz	...	Herself - Foreclosure victim
Travis Plunkett	...	Himself - Lobbyist
Dave Ramsey	...	Himself
Andrea Rodriguez	...	Herself - Former student
Vernie Russell Jr.	...	Himself (as Bishop Vernie Russel Jr.)
Danny Schechter	...	Himself
Ronald Silverman	...	Himself - Law professor
Michael Thomas	...	Himself - US Navy
Jennifer Tomforde	...	Herself

Country:

USA

Language:

English

Color:

Color

Aspect Ratio:

1.78 : 1

Sound Mix:

Stereo

Company:

Globalvision

Movie Connections:

Features Wise Use of Credit (1960)

Soundtrack:

Pa La Lucha

The real victims are the lenders.

Two words specifically came to mind when I viewed this movie, personal accountability. This documentary however lays blame solely upon lenders and casts none toward borrowers where it belongs. If I'm lending someone money by God it's my right to set the terms, interest, and fees at whatever I desire. If I want to charge 700% interest, $200 late penalties, and write in the terms I'll break your legs if you don't pay me back by God that's my right as the lender. It's my money money and I have the right to lend it at whatever terms I so desire. If a prospective borrower is ignorant enough to accept my terms, then that is their problem not mine. I'm not holding a gun to their head telling them to take the loan. But pretty much this documentary suggests lenders forced people to borrower money from them.

Credit card companies are businesses. It is their job and purpose to solicit new customers. We customers are bombarded with advertisements, offers, and promotions each day but that doesn't mean we buy everything we see nor take advantage of every offer available to us. Credit card companies are no different then any other company, they are in business to make a profit, not be peoples personal unlimited piggy bank. If they send you a pre-approved credit card, you by no means have to activate it. You can likewise visit websites online and get your name and mailing address removed from credit card mailing lists. I receive zero credit card offers in the mail and I have 751 point credit score.

This documentary angered me, when it spoke of bankruptcy laws being amendment so it was harder for people to get out of repaying their debts. This documentary made the borrowers out to be the victims, when in fact it's the credit card companies that are the victims. These people borrow money and agree to repay it and for them to get out of repaying it by declaring bankruptcy is BS.

I'm without any doubt if any of these dishonorable borrowers lent money to a friend or family member and they didn't repay it they'd be angry! Yet they expect the lenders they borrow from to just forgive and let the debt they charged go, ridiculous.

I've had a credit card since I was 18 years old. I have always paid my debts on time and I have a 751 credit score to show for it. If I can do it, anyone can do it. The secret is not to borrow more than I have cash for. If I don't have $10,000 in the bank, I don't borrower $10,000 dollars. What happens if I get injured and I can't work, how will I repay that loan if I don't already have the $10,000 earned? It's alright to borrow money if you have it but don't borrow it if you don't. There's to many uncertainties in the world for people to expect to have a job next week or their health next year.