When Hurricane Katrina ravaged America's Gulf Coast, it laid bare an uncomfortable reality-America is not only far from the world's wealthiest nation; it is crumbling beneath a staggering ...
See full summary »
When Hurricane Katrina ravaged America's Gulf Coast, it laid bare an uncomfortable reality-America is not only far from the world's wealthiest nation; it is crumbling beneath a staggering burden of individual and government debt. Maxed Out takes us on a journey deep inside the American debt-style, where everything seems okay as long as the minimum monthly payment arrives on time. Sure, most of us may have that sinking feeling that something isn't quite right, but we're told not to worry. After all, there's always more credit! Maxed Out shows how the modern financial industry really works, explains the true definition of "preferred customer" and tells us why the poor are getting poorer and the rich getting richer. By turns hilarious and profoundly disturbing, Maxed Out paints a picture of a national nightmare which is all too real for most of us.Written by
We started with nothing, built up a portfolio of over four million dollars' worth of real estate by the time I was 26, lost it all. Because I was stupid. And so I've done stupid with zeroes on the end, I know what it looks like.
See more »
Excellent-If you don't like it, it probably hits too close to home.
Excellent flick. I often felt that people were at fault for their own credit mess and to some extent, I still do.
This movie opened my eyes to how many of these credit giants prey on the uninformed and manage to make money through bankruptcies.
Someone charges $1000, makes a payment then goes delinquent. The late penalties cause that to become $3000, then after 180 days the bank writes that debt off and sells it at 50% to a debt collector for $1500. The bank still collects their principal, plus whatever payments the original person made, plus $500, plus takes a write off. It seems like a no brainer to hand money out like paper.
When a predator offers candy to a child, do we blame the child for taking the sweet bait? No, because the child didn't know better. So are these people at fault?
7 of 7 people found this review helpful.
Was this review helpful to you?
| Report this