A small financial institution called Abacus becomes the only company criminally indicted in the wake of the United States' 2008 mortgage crisis.

Director:

Steve James
Nominated for 1 Oscar. Another 7 wins & 11 nominations. See more awards »

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Cast

Cast overview, first billed only:
Thomas Sung Thomas Sung ... Self - Founder, Abacus Federal Savings Bank
Hwei Lin Sung Hwei Lin Sung ... Self - Thomas Sung's Wife
Cyrus Vance Jr. Cyrus Vance Jr. ... Self - District Attorney, New York County
Matt Taibbi ... Self - Journalist & Author, The Divide
Jill Sung Jill Sung ... Self - Abacus President & CEO
Vera Sung Vera Sung ... Self - Abacus Director
Heather Sung Heather Sung ... Self - Physician
Chanterelle Sung Chanterelle Sung ... Self - Former Assistant DA
Linda Hall Linda Hall ... Self - Title Closer
David Lindorff David Lindorff ... Self - Investigative Journalist
Jiayang Fan Jiayang Fan ... Self - Staff Writer, The New Yorker
Polly Greenberg Polly Greenberg ... Self - Chief, Major Economic Crimes Bureay NY DA's Office
Yiu Wah Wong Yiu Wah Wong ... Self - Abacus Chief Credit Officer
Kevin Puvalowski Kevin Puvalowski ... Self - Attorney for Abacus
Sam Talkin Sam Talkin ... Self - Attorney for Mr. Wong
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Storyline

After the 2008 financial crisis that nearly destroyed the world economy, none of the American financial institutions faced prosecutions for their shady dealings that contributed to this debacle, except one. Abacus Federal Savings Bank, a small Chinese-American bank that catered to the neglected market of their community, was indicted on fraud charges and loan falsifications. As the bank disputed these accusations, many in the mainstream news media noticed that far larger competitors appeared to have committed similar misdeeds without legal consequence; likely because they were "too big to fail." This film explores the history of Abacus and its legal battle for survival against this hypocritical, and likely racist, application of the law that seemed to determined to punish them as a scapegoat for crimes that much larger felons deserve to face. Written by Kenneth Chisholm (kchishol@rogers.com)

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Genres:

Documentary

Certificate:

Not Rated | See all certifications »
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Did You Know?

Trivia

Steve James' first Oscar nomination for Best Documentary Feature, following notable omissions like "Hoop Dreams" and "Life, Itself". See more »

Quotes

Himself - Founder, Abacus Federal Savings Bank: Abacus, you know, is the Chinese calculator. China Regards abacus as a national treasure. So we say we'll name the bank Abacus.
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Connections

Featured in The Oscars (2018) See more »

User Reviews

 
Beware the Bureaucrat with Power and a Hunger for Headlines
28 May 2017 | by marsanobillSee all my reviews

Abacus: Small Enough to Jail is a suspenseful David v. Goliath documentary of family loyalty and stubborn courage facing a gigantic government agency and an ego to match. As follows: Tom Sung emigrated from China at 16 and became in time a citizen, a successful lawyer and a resident of upscale Connecticut. Nevertheless he noticed that 'establishment' banks were happy to take his deposits, but when it came to getting a loan, he didn't, as the saying went in the hateful days of the racist Exclusion Act, 'have a Chinaman's chance.' Sung then took a chance and started his own bank—Abacus Federal Savings. His timing was perfect: new immigration laws in the 1960s meant Chinatown soon had a] plenty of customers for Abacus and b] something besides Cantonese restaurants. He was a genuine positive force among the Chinese population, admired and respected by all. Then about a decade ago low-ranking Abacus personnel were caught falsifying mortgage applications; they were immediately sacked and their misdeeds reported to feds, as required. Mistake, as it turned out. The subprime- mortgage crisis was big news: until then, few Americans used the word 'trillion' for anything but the national debt or the distance from here to Alpha Centauri. Villains included Citibank, Merrill Lynch, Goldman Sachs, Wells Fargo, Fannie Mae and Freddie Mac, and while some were fined, no one went to jail and most bonuses were paid as usual. Unfortunately for Abacus, new-minted New York D.A. Cyrus Vance Jr., who was as hungry for publicity as NY's Sen. Charles Schumer, saw a chance for headlines and photo ops. Seeking a halo as the sole public avenger of the crisis, Vance charged Abacus with 80 counts of criminal wrongdoing, launching a court battle that ran five years and cost $10 million. Although the major villains had got off lightly as being 'too big to fail,' Vance's target was indeed 'small enough to jail': in size, Abacus was 2600th among U.S. banks. About the size, as it turned out, of David. This is an excellent documentary, suspenseful but lightened with some bursts of humor among the Sung family as they fight for the reputations and their principles.


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Details

Country:

USA

Language:

English

Release Date:

7 July 2017 (UK) See more »

Also Known As:

Abacus: Small Enough to Jail See more »

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Box Office

Opening Weekend USA:

$12,528, 21 May 2017

Gross USA:

$113,278

Cumulative Worldwide Gross:

$113,278
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Technical Specs

Runtime:

Sound Mix:

Dolby Digital

Color:

Color

Aspect Ratio:

1.85 : 1
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