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♪ This picture, one of the most unusual that have ever been shot, contains scenes that under no concept must be seen by people with heart problems or by anyone who gets easily upset. We urgently recommend that if that is your case or if
Michael Moore's documentary explores capitalism's impact on society, focusing on inequality, evictions, and systemic failures.
Key Takeaways
- Capitalism creates significant social and economic inequality, often at the expense of the vulnerable.
- Housing and eviction crises reveal systemic exploitation by real estate and financial sectors.
- Democratic institutions are undermined by plutocratic control and corporate interests.
- Economic crises are exacerbated by lack of regulation and enforcement against white-collar crimes.
- Alternative economic models and community action are necessary to address capitalism's failures.
Summary
- The documentary opens with a stark warning about the emotional intensity of the content, highlighting capitalism's harsh realities.
- It draws historical parallels between ancient Rome's economic inequality and modern capitalist societies.
- The film documents personal stories of eviction and housing crises, illustrating the human cost of capitalist systems.
- Real estate speculation and opportunism are exposed, showing how vulnerable people are exploited for profit.
- The narrative critiques the erosion of democratic processes and the rise of plutocracy benefiting the wealthy elite.
- It highlights systemic failures such as mortgage fraud, economic crimes, and inadequate government responses.
- The documentary questions capitalism's morality and sustainability, emphasizing the growing divide between rich and poor.
- It showcases grassroots resistance and the potential for cooperative alternatives to traditional capitalist models.
- The film discusses the role of unions, social safety nets, and public policy in shaping economic outcomes.
- Overall, it challenges viewers to reconsider capitalism's role in society and its future trajectory.
Chapters
- 00:00Introduction and Warning
- 09:40Housing Crisis and Evictions
- 16:56Capitalism and Real Estate Speculation
- 24:51Economic Inequality and Corporate Power
- 32:19Systemic Failures and White-Collar Crime
- 38:18Political Influence and Plutocracy
- 46:18Community Resistance and Alternatives
- 57:10Conclusion: Questioning Capitalism's Future
Full Transcript — Download SRT & Markdown
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you are accompanied by a child of short age and influence, that you and the minor leave the room. Whoa, baby, gotta go now. Louie, Louie. Whoa, I really gotta go now. The communist world is falling apart. The capitalists are
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just breaking hearts. Money is the reason to be. Makes me just wanna sing. Louie, Louie. Louie, Louie. Whoa, baby, gotta go now. Louie, Louie. Whoa.
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I really gotta go now. Some say it will, some say it won't. Now you see it, now you don't. We spent money on a disaster movie. It makes me wanna sing Louie Louie. You gotta leave me. Whoa, baby. I really
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gotta go now. You gotta leave me. Whoa, baby. I really gotta go now. I'm just gonna drive you.
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Rome was the largest and most beautiful city in the ancient world. However, the magnificent facade of the empire could not hide the germ of decadence, an economy with an unhealthy dependence on slaves and inequality between rich and poor. After the splendor of the forum, there were huge neighborhoods of kids. Escaping
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from those neighborhoods was difficult because there were few jobs available and practically none for the unspecialized workers. To avoid temptations and keep the unemployed citizens entertained, frequent games and shows were organized paid with public funds. At first, only the racing races were subsidized,
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but under the command of Trajano, some brutal fights to the death became very popular. Previously, in Rome, the elected representatives exercised power, but now all government functions had been absorbed by the emperor, who was above the law and ruled by decree. It is amazing
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that a people as civilized as the Roman, who enjoyed the most human legal system ever conceived, could tolerate such a violation of those rights. This imbalance and irresponsible behavior of public officials would become over time the main reasons for the decline of Rome.
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I wonder what future civilizations of our society will think. Will they judge us for this? Or will they judge us for this? Do you see the sheriff's car? Yes, there's the sheriff, in the first car. Yes. There he is. Three,
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four, five, six... Seven. Give me the phone. It's on the... It's there. It's on the sofa, on the sofa. All right. I can't get any closer. Don't stay in front of the door, Dad. Hello, Sheriff. I'm Robert Lou. I'm in
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the house. They're trying to beat the back door, Dad. We're four inside the house. They're forcing the door.
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We won't resist, but he has to go in alone. We're four people inside. Dad, don't stay in front of the door. No. Liu, another witness. Tell us your names. I'm David Phillips. Chris Collins. I'm Odra Elena. And this
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is America. Yes. It's America, ladies and gentlemen, what you're seeing here. I'm the sheriff. Yes, we know. Good. You have to leave, please. We cannot act like this, as if this was good. This is new.
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First time they cover a house after discharging the occupants and throwing their furniture in the trash. They want us to know that they are putting firm. Cover the house of a person. This was the house of my family, my parents. I lived here 41 years.
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It's the only home I've ever lived in, and it'll always be my home, no matter what. I'm just a carpenter. Yeah, of course. You're leaving, Sandra. Let them go.
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Okay, he's a carpenter. I'm just that. If people paid their bills, I'd kick them out. Well, people pay their bills and still kick them out. The real estate agents are kicking people out of their homes. I'm not happy, but it's my job. I'm
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just telling you that you can choose to do something else. It's the only thing we say. We're just saying that. That's not the reason. That's not the reason for people to get angry. They can go out of their minds. We're not going to
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go out of our minds. Are you threatening us? You'll find out. Maybe you're the one who goes out of your mind. There must be some kind of rebellion of people who have nothing against the one who has it all. I do
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not understand. There is no middle class. There are people who have it all and people who have nothing. We have to get things out of the house, put them in boxes and leave in a 30-day period, even if we have
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nowhere to go. We designed this house. The property that it was on was my family's farm. So I've lost a piece of my heritage with this. Why do you do this to people who work hard? Why? Because they take everything away from them. We're just middle-class
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workers who try to make a living. Well, the clothes are gone. They just try to survive.
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My old Brony. My gun. My father's gun. My gun. I'm the sheriff. It was supposed to be 30 days. I have 30 days to get my things. That's what that man told me. No. What?
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It's scheduled for today. But it is... The order says we must execute the eviction today at 9 a.m.
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Oh, my God. He is also surprised. The house is no longer ours. The police told me that it is already sold to another, so we are no longer the owners, they are others. This is capitalism. A system of take and daca. Rather,
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take. The only thing we didn't know was when the revolt would begin. Everything, we've tried everything, except robbing a bank. Look, maybe I'll do it, you know? It would be a good way to get our money back. They did it to me.
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I should be able to do the same to them. This is my second Hyundai Sonata. Maybe I'll buy another car next year, maybe another Sonata. But I'm not interested in cars. If I can get a flat for the
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price of a Mercedes or a Bentley, I would love to. I introduce you to Peter Zalewski, a new real estate genius from Florida. Shall we? His agency has called him "The Baiters of the Floors." This is a good sign, the final notification
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of eviction. As you can see, this person has already been expelled by the police. Welcome. Peter exclusively deals with people who buy shanty floors and then resell them for benefits. It's about 80 square meters. It was bought for 250,000. Most of
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the people we represent are the only ones who can afford to buy now. The market today is at 66,000 dollars. They are basically opportunists, people without compassion or sensitivity.
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They are only interested in money, they pay the bill and they will never take pity on a seller, whatever their situation. People often ask me, "What is 25 cents per dollar?" Well, that's what's going to come out. Vultures are opportunists who show
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up and clean a corpse. They ingest so many microbes that they end up vomiting and that leads to a cleaning process. Vultures don't kill, they clean. Which Bank of America do you want? We go to a database and boom, voila. We
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have 3,400 orders from the Bank of America. It's great. As we click down, it gives us information about the battlefield. Like spy planes that fly over a battlefield in Afghanistan, Pakistan or Iraq. The price you ask for is 355,000 and I insist,
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it was bought for 840,000, a small discount. It will have a two-story house. Our people use that data to try to get gangs. We do it ethically and legally, but at the lowest price. That's what it's done now. Look there, look at that
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roof. It has completely disappeared, but we have been without any hurricane for five years.
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Welcome to the real estate crisis in Miami. So this is capitalism, and that's why having information is so vital. We go in, we inform them, and if they like it, you know, boom. Look out the window. There was a fire in the house.
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This is pure capitalism. You see the remains of a fire. Would someone who lived in it or a Cuban do it? No. Everyone wants to take advantage of the misfortune of others. Someone asked me what I differ from a vulture. I said: "Very
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simple. I don't throw up on top of it." Our topic today is: What is capitalism? Capitalism? Why should we question it? Hasn't it given us the highest standard of living in the world? We are free to enrich ourselves, to go shooting or to
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fail.
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some of the foundations of economics. Free enterprise is a form of work that is intended to cover a small town with different shops.
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And the guy who runs the best shop is the one who has the most customers. That's the basis of the capitalist system. The benefit: making money by doing business. The original theory of capitalism is that it's a clever way that allowed society to choose what
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products it wanted to be made. What do you use it for? I could use it for practically everything I do. You know, society votes that they like the way this guy makes ice cream, and also votes that they don't like the ice creams of this other
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guy, and they don't buy them, so they disappear. I invite you. This is good. The basic principle of life is that if you have things you can get more easily. Very quickly a guy can have five times more things than others. Free company. Competitions. Benefits. My
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father, who worked in a assembly chain at General Motors, bought and paid our house before I finished the parvularium. We changed cars every three years. We went to New York every two years. That's me in Wall Street. And there I am
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shooting my first film during the Universal Exhibition. We went to Catholic schools. We lived well. If capitalism was that, I loved it. And the others too. During those years, many people got rich and the tax rate was 90%. 90%? Yes. But they
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still lived like Bogart and Bacall. And what did we do with all his money? We built dams, bridges, highways, schools, hospitals, we even sent a man to the moon. Things seemed to go well. Dad had a good job and mom could work if she wanted, but it was
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not necessary. Middle-class families lived with a single salary. The company or the union gave us free medical and dental coverage. The young people could go to university without having to ask for a loan from the bank. Dad had four weeks
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of vacation paid in summer. Most people had a savings account and few debts. And dad put aside money for the pension where no one could touch it. He would be waiting for him when he retired. We got all that because our main industrial
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competitors had been reduced to ashes. This was the German car industry. And this, the Japanese. It's easy to take the first place when you don't have competition. Yes, of course, not everything was perfect. We didn't care to have to endure a
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little of this or this or that, in order to belong to the middle class. And that our children lived even better than us. It seemed like a good business to us. Capitalism. No one ever had anything better. And
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suddenly, in the midst of a love story with capitalism... The Sunday night movie "The Player" will continue without interruptions after this last-minute news. We are at a decisive moment in our history. The bad bird has arrived. Too many
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of us tend to lack moderation in consumption. Our identity It is no longer defined by what we do, but by what we own. This is not a pleasant or comforting message, but it is reality and it is a warning. Oh, what a party. It
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was time for a new sheriff to arrive. One who acted like a president. He knew how to deal with workers who were looking for better salaries. "Alright, sir. I guess you win." Or with those feminists always demanding equality of rights. "I'll fix that in a flash."
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A man who knew how to act. Ronald Reagan. From the B-series movies, he became the most famous corporate spokesperson of the 50s. "This is a transistor model, very light and fits in the pocket. The clean hand without water is a true cleaner." He had found his vocation and Wall Street
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to his man Banks and companies had a simple plan Reconstruct America to serve it But to achieve it they had to choose one of their spokesmen as president And that's what we did on November 4, 1980 And solemnly swear that
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I will exercise with fidelity the position of President of the United States Thank you It was a historic moment Since then, business America and Wall Street have been practically in power. Do you see the man next to the president? The
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one who looks like a mayor? His name was Don Regan, the president of Merrill Lynch, the richest and most powerful brokerage company in the world. He was made a key secretary of the Treasury to promote tax cuts that rich people were looking for.
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Don Reagan later became head of the White House when the decline of the president began. The president should have what 43 governors have, the right to discretionary veto. And... faster. Who can tell the president to go faster? Merrill Lynch's man, who else? In the United States
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things would never be the same again. Now the country would be directed like a company. We're going to let the bull go.
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And four years later, when Reagan was re-elected, the nation was all smiles and happy comments. I think we'll be better in the long run. We're getting better and the factories are working harder than before. We're back up. In reality, what Reagan presided
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over was the systematic dismantling of our industrial infrastructure. That was not done to save money or continue to be competitive, since companies already presented record profits of thousands of millions. No, it was done to obtain short-term benefits.
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And to destroy trade unions. Millions of people were left without work. The rest had to work twice as hard.
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But wages remained frozen. The richest were reduced by 50% the IRPF rate. Instead of paying decent salaries, we were encouraged to ask for loans until the family debt almost reached 100% of the GDP. The number of people in bankruptcy was shot. We found
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it necessary to imprison millions of citizens. The sale of antidepressants was shot. The avarice of health insurance made the cost of health care go up in a dizzying way.
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All this was great news for the stock market and for the high American executives.
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50% of the population of Flint received subsidies from the government. At the end of Reagan's term, I made my first film, which dealt with what was happening in the country and especially in my hometown Flint, in Michigan, the cradle of General Motors. General
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Motors accounted for benefits of more than 4 billion dollars while destroying tens of thousands of jobs. I went to see the leader of the pressure group of General Motors in Flint, Mr. Tom Key, to ask for explanations. "It would not benefit
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anyone if General Motors broke. We must take the necessary measures to continue being competitive in the current economic situation." "Even if that means eliminating 18,000 jobs?" "Even if it means eliminating 20,000 jobs." "Even 30,000?" "Whatever." "What if we had to eliminate all of
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Flint's jobs?" "It could happen." And it happened. Almost all jobs were removed and General Motors was declared bankrupt. The most worrying thing was that the rest of the country was becoming more and more like Flynn, Michigan. But some cities were still proud of its greatness. Cleveland! Come
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on down to Cleveland Town everyone Come and look at both of our buildings Here's the place where there used to be industry This train is carrying jobs out of Cleveland You see the sun almost three times a year This guy has at least
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two DUIs Our economy's based on LeBron James No, they are not Detroit. For 20 years I tried to warn General Motors and other societies of what was coming, but it was in vain. Maybe now they would listen to me. So I went to the headquarters of
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General Motors for the last time to communicate my ideas. Gentlemen, if you do not have permission, you cannot film here. What? Without permission from General Motors, you cannot film. I just want to see the president. No sir. No sir. No sir. I've been trying for 20 years. I understand, sir. And
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in those 20 years, they have never let me enter this building. Yes. I think it's time for me to let them pass and talk to them. I have a few good ideas. 4776 Bravo or A Alpha. Forward. Yes, Michael Moore
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is here to see the president. Can you repeat? It's the filmmaker Michael Moore who wants to see the president. Gentlemen? Yes?
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I need an authorization to film here. But if they don't let me in, how am I going to get it? You're right, the breaks are painful. Don't film. Get in the building, come on. For 35 years, General Motors earned more money than any
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other company. But over time, Germany and Japan rebuilt their automotive industry and manufactured more safe vehicles than ours, of more efficient consumption and that almost never or never got damaged. In Germany, the unions help elect and dismiss the Board of Directors. The employees make their own decisions.
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But it wouldn't be long before those countries and their politicians try to imitate the United States in their own way. Where are we exactly now? The day General Motors was accepted to Chapter 11 of the law of breaks I went with my father to visit the factory of
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spark plugs where he had worked for more than 30 years. So you worked right there. You had to go up, there was a ramp that you climbed right behind that. Right behind that land and the factory occupied all that. Yes. The entire complex
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was about three kilometers long. I remember that mom brought us here to pick you up every day at two and a half. You went out exactly there. We were waiting for you in the car and we saw you go down the ramp. Oh,
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yeah, yeah. We were always excited to see you arrive. I've been working here for 33 years and a half. 33 years and a half? What's your best memory of working here? My best memory? I think the people. We formed a good gang. Did
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you like the people you worked with? Yes. It was a good place to work.
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I liked it. I'm embarrassed to see this like this. Shortly before Christmas 2008, Chicago, Illinois's Ports and Windows Republic, suddenly fired all its workers, more than 250 people. They were only given three days' notice. The Bank of America had canceled its credit line and
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employees did not charge the money they owed them. My life revolves around this job. I live according to my obligations towards my job, you know? And not just me, also all the workers here.
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We give much more than Republic expects from us. And, in the end, we bring Republic carelessly. We have known that they will close the plant on Tuesday. We do not deserve this treatment, you know? It really hurts me. Because, as I said before, this is my
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second family. It has been very hard, really very hard. I will miss everyone, you know? I will miss them.
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And I don't think anyone in this world deserves what they are doing to us. Scenes like this were repeated throughout the country. and no one seemed to care. The president enjoyed his last year in office. But when the economy began to collapse,
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he decided it was time to mention the word that starts with "C". Capitalism is the best system ever designed. Is capitalism better than Christianity? There are voices on the left and right that identify the free market system with greed, exploitation and failure. Greed, exploitation, failure? Continue, listen. Capitalism offers people
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the freedom to choose where to work. and what to do. Pat Andrews is looking for work. Every morning he looks at the classifieds in vain. There is nothing here. I'm not going to be a dancer in a men's club. The opportunity
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to buy or sell the products they want. Don Rendon has avoided dismissals in his company of stockbrokers in Stockton, California, because this cartel with this word is 50% of its bill. For those looking for social justice and dignity, The free market
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economy is the way to go. For those who sought justice in Pennsylvania, the free market was undoubtedly the way. Wilkes-Barre, Pennsylvania, has one of the highest rates of the state of young people in juvenile centers. Maybe because here the people resort to
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capitalism to put the problematic young people on the line. The county hired a private company with a very nice name: "Help to the Childhood of Pennsylvania". It was run by two businessmen. One of them was Robert Powell, lawyer and businessman. His good friend, Judge
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Conahan, closed the public minors center and made sure that Ayuda La Infancia would build a new private center with a cost of $8 million and rent it to the county for the modest amount of $58 million. Let's meet some young criminals of Wilkes-Barre.
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Maggie smoked marijuana at a party at the institute. At that age, I was very rebellious. Matt argued at the table during dinner. I threw a piece of meat at my mother's boyfriend. Jamie fought in a mall with his best friend. I figured that
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our friendship was over. And Hillary made a page in MySpace where she made fun of the sub-director because she was tough and had no sense of humor. I wrote stupid things as a 14-year-old teenager. The sub-director called the police. Everyone
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appeared before the kind judge Mark Chiavarella. Those guys were going to learn their first lesson of American capitalism. Time is gold, a lot of gold. I appeared before the court, before Judge Chiavarella, and I was not even four minutes. I was only in
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front of him for about two minutes. The first thing Judge Chiavarella told me was: Why do you think you can do all that nonsense? I know that inside I already thought: "I'm going to lock this kid up, no matter what." He didn't even
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look at me. He didn't have the slightest opportunity. Before I did, about six kids passed. All the young people that Chiabarella judged that day, whatever the position, were condemned.
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Although Wilkes-Barre is in the United States of America, here capitalism defeated democracy. Robert Powell, one of the owners of "Help to Childhood" made a commercial deal with the judges Conahan and Chiavarella. Judge Chiavarella increased his number of sentences. They
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sent many of those boys to the private detention center with the spirit of profit "Help to Childhood". For their efforts, the judges received more than 2,600,000 dollars.
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The children's welfare owners charged tens of millions of dollars from the county's taxpayers. And where did Powell go to enjoy all that money? To his private plane and his yacht. The true justice. 6,500 children were unjustly condemned. It was a good business
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as it lasted. Two judges from the Luzern County have serious problems with the law and will go to jail. Some children were locked up despite the opposition of their security agents. In there you lose the notion of time and the day you live.
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I did not remember what day it was. It was supposed to be like, I think, two months. And it went from two months to nine months. At first, he said he would be sentenced to three to six months, but somehow I ended up
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spending eleven and a half months there without appearing before the judge for the extension of the sentence. "Help to childhood" He paid the judges to fill their cells and the employees decided when a child was sufficiently rehabilitated. Does it make sense? When a
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government delegates in a private company with a profit spirit the services that compete with it, what can you expect? I feel like an object that they used to enrich themselves and then they discarded I try to focus on my flight classes
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and prepare my future to leave all that behind forget it once during the trial I did not control anything but when I fly everything depends on me I make the decisions I control Mike loves to fly and wants to be
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a pilot If he gets it, he will learn his second lesson of capitalism, that in the United States sometimes it is preferable to work at a McDonald's. Do you remember Sally? Commander Sullenberger who watered an Airbus in the Hudson River and saved the lives of 150 passengers? A true American
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hero. He met the mayor, attended the speech of the president, they even invited him to the Super Bowl and then he went to Congress. Flying has been the passion of my life. But while I love my profession, I do not
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like what has happened to him. I know from experience that my decision to continue exercising it has negatively affected my family and me. My salary has been reduced by 40%. My pension, like most of the pensions of the airlines, has been canceled. So
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please do not think I exaggerate when I say that I do not know any professional airline pilot who wants his children to follow in his footsteps. Wow, Sally, with that you have emptied the room. I do not think congressmen would want to hear
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those things. They like to see you as a hero. The current experience and the capacity of professional pilots in our country come from investments made years ago when we were able to attract people with talent and ambition. How much did you earn when
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it started? I made $19,000 the first year and they raised it to about 22,000 or 23,000 the second year. Last year, my gross salary was $17,600. We have a joke for when the company hires a new pilot, they tell him, please do not
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sign up to receive food vouchers wearing our uniform. I don't know about you, but I would like the pilot who takes me to 9200 meters high was well paid and not sitting in the cabin, stirring under the seat looking for a cauldron I
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had to resort to food vouchers for four months He resorted to vouchers? Yes And he was still piloting a plane? Yes with my card to buy food. The lady from the food bank, when I told her I was a pilot, she didn't pester
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me, but I knew she didn't believe me. How do you fix it? Like buying things that... I made the purchase with the credit card before having a problem. Did you buy? Really? I have a debt of 10,000 dollars in credit cards. Yes, in
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first-hand things, not for a giant screen TV or a music equipment, just the essential.
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Right, to buy food and keep throwing. Yes. Do you owe any loan for studies?
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Yes. How much? Mine is about 80,000. I took out a hundred thousand dollars. A loan for students. And by the time I get back to school, It will probably cost me more than half a million with the interests, commissions and charges. Anyway, I
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prefer not to think too much about it because it is a overwhelming amount. It makes me think about the profession I have chosen when I see how much I owe and how little I earn. Have you had to look for a second job
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to get to the end of the month? I also walk dogs and I also distribute Monavis juices. I know pilots who donate plasma to get extra money. -You mean they donate blood? -Yes, they donate blood. -To earn extra money, even if they are
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pilots? -Yes. They donate their plasma. They recover the blood, but they pay for the plasma. I understand, they take their blood and extract the plasma. And they re-inject the blood. They return the blood, then there is no mistreatment. The pilots keep flying
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only because they love it and the management takes advantage of that. The big airlines have managed to subcontract numerous flights to regional companies. Basically, to weaken the unions.
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You can't reduce costs year after year without compromising security. And on February 12, 2009, approximately at 10:15 p.m., the Continental 3407 connection flight began its descent to the Buffalo airport. Operator, we communicate from the state office or the sheriff's office. They must find out if there
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is anything on land. The ship was 8 kilometers away and suddenly it no longer responds. The only thing I can say is that the plane is on screen and we have no communication. No one survived the accident and
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50 people lost their lives. The media focused on the performance of the pilots. Commander Marvin Reslow and pilot Shaw were talking about their careers. "Careers" was a euphemism. In fact, what the pilots were talking about was how little they were paid and the
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excess work. In the media, there was no mention of an economic system that allows a pilot to charge less than the manager of a fast food restaurant. The pilot Shaw earned between $16,000 and $20,000 a year and even had to
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look for a second job. His second job was the waiter of a cafeteria. How do these companies do things like that? I guess it's the advantage of capitalism.
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You can do whatever you want. For example, benefit from the death of an employee.
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Honey, it won't open so easily. Let's try this. This is Irma Johnson. Dan, Irma's husband, was a middleman at Amagi Bank in Houston. Do you want to sit it?
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No, I don't know how to do it. Dan recently died of cancer, leaving Irma and her two children. What Irma didn't know was that Amagi had hired a life insurance company on behalf of Dan. The bank, generously, had named itself a beneficiary
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in case Dan died. The insurance company informed Irma by mistake that Amagi Bank had received a check worth a million and a half dollars a few weeks after Dan's death. Benji. What? Thank you for helping me. They had never told me. And I
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wanted to know why they had made you a life insurance. You didn't know anything?
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No. And... They named themselves beneficiaries. Yes. So your husband's death made you earn a million and a half dollars? I just know it's not right for them to try to make money with my husband's death. When I first realized what was happening,
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I couldn't believe it. It's very painful. I'm so sorry. It's very painful and I wanted answers. Irma contacted Michael Demme Myers, a local lawyer who had already been investigating that type of insurance that companies made to their employees.
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Normally, the purpose of a life insurance is to protect yourself from the death of a loved one or someone who keeps the family, and you don't want that person to die. But with these policies, the companies that hire them want the
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employees to die according to the policy conceptions. For the company you are more valuable dead than alive. American Greetings, RR Donley & Sons and Procter & Gamble are companies with mortality problems. Mortality in these cases is half of what is
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expected. Customers are aware of this problem. Here the insurance agent complains that not enough employees die and therefore the benefits of the investment do not meet the forecasts.
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The agent affirms here that the NCC index is 78% of expected mortality. Okay, 78% of the people who were expected to die have died, but three of those deaths were suicides and you can't count on that every year. Does it occur to you
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any other situation in which you may wish someone to die? the combatants in a war I guess Wow, when do you want people to die? I do not know, war situations, situations of terrorism, drug trafficking trials, I do not
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know, I do not know, it's a strange question I did not understand how all this could be legal after all there may be a reason for the law prohibits me to hire a fire insurance for the house of another since
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I have all the interest in that house is on fire As lawyer Myers has been researching this for years, I asked him what companies were benefiting from these insurance policies. I don't know, and you don't either, because you can't look
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anywhere and the company you work for hires this kind of product. Which one do you know? The ones that we have discovered because they have been neglected are Bank of America, Citibank, Walmart, Winn-Dixie, Procter & Gamble, McDonnell Douglas, Hershey, Nestlé, AT&T, Southwestern
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Bell, Ameritech, American Express... They are solid companies. Yes. They are not bad-mouthing companies that order plans to charge a check if an employee dies. Probably several million Americans are covered by one of these policies or have been at some point.
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It's very common. This is Paul Smith. It was what they call a faithful employee.
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I worked at Walmart for 18 years, giving myself 110%. I loved the company. And then it turned out that Walmart hired more than 350,000 life insurance policies for all non-directive staff. They weren't executives. They were people like my wife, who decorated cakes for
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18 months. That's the type of people who were given life insurance. Ladona, Paul's wife, left her job at the Walmart pastry shop to be able to attend to her two children. Yes, she had a very serious asthma crisis. One night
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she had to go to the emergency room. A nurse came out and asked me, "Are you Mr. Smith?" I answered yes. And she said, "We don't think your wife will get out of this." And Ladona went into a coma that she would never
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wake up from. Her family ran to the hospital, although there was nothing to do. There was a wall here and Madonna was in the room on the other side and Jessica didn't stop asking where she was. I answered, "She's behind this wall."
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And Jessica said, "Can we make a hole so we can see her?" And that just stayed with me. Do you remember that? We had to stay there, so we wrote her letters. "My dear wife, I miss you the way you miss
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me. You're my life. You always see me in the same place. I've always admired you. I wish I could have told you more.
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I want you to come back soon. You still have a lot to teach me. Your loving husband, Paul. You okay, Wesley? She was 26. You're a jerk. You're a jerk. The younger the person, the greater the benefit, because their life expectancy is higher. Women are also expected to live
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longer than men, so the most valuable employees for a company when they die are young women. The death of Donna reported 81,000 dollars to one of the richest companies in the world. I faced more than 100,000 dollars in medical bills and 6,000 more
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for the funeral. And Walmart didn't offer me a penny to help me with that. And I trusted them. I never in a million years ever thought that somewhere in the profit account I was going to read: "Debt Assets: $81,000." Walmart doesn't care. When
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someone dies, they shouldn't get to benefit. The common denominator of all those policies is that when the employee dies, the employer takes the insurance. They are often referred to as dead peasants. Dead peasants? Why do they use such a sinister name?
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It's very sinister. I don't know what it means either. Dead is clear, and peasants, I don't know why they chose that word. I don't know if it has any historical meaning or if it's just the value they give to the lives of their
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employees. Dead peasants? Yes, that's how they call it. It's insulting to refer to my husband like that. It turned out that Amagi Bank had a second policy of the peasant dead in the name of Dan. So in total they won five million dollars.
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Is capitalism a sin? Yes. Capitalism for me and for many of us at this moment is evil. It goes against everything that is good, against common good, compassion, against the main religions. Capitalism is precisely what the sacred books,
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ours in particular, remind us that it is unfair and somehow God will come down to earth to destroy it. It was Father Dick Preston, the priest of Flynn who married my wife and me. Capitalism is bad and therefore must be eliminated. Eliminated? Maybe it's a
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bit radical. So I decided to talk to the priest who married my sister and my brother-in-law. Surely he would have a more balanced approach to capitalism. It is immoral, it is obscene, it is outrageous, you know.
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Yes, it's a radical evil. It's absolutely perverse. Wow, does your boss know what these things say? I thought it would be better to consult the bishop. It seems that the system does not seek the well-being of the entire population. And by its own nature, that goes against the word of Jesus,
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who said: Blessed are the poor, there are the rich. It is written in the Gospel according to St. Luke. How have we put up with this system for so long? They say: "The system has integrated what we call
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propaganda. I am amazed by the propaganda, the ability to convince people who are victims of that same system that they should support it and see it as good. We know that American capitalism is morally correct because its main elements, private
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property, the incentive of benefit and competition are healthy and good. They are compatible with the laws of God and the teachings of the Bible. If I remember correctly, they taught me that competition and benefit are good. They are compatible with the laws of
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God and the teachings of the Bible. And if increasing benefits means locking up a few kids or spending money at the expense of the death of an employee, compatible with the laws of God and the teachings of the Bible, it is morally fair
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to keep the shareholders. Compatible with the laws of God and the teachings of the Bible. Debt, eviction and exploitation. The laws of God and the teachings of the Bible. What did we really promise loyalty to?
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The incentive of benefit. And so the Americans ended up acting as if they believed that our capitalist economic system was compatible with the teachings of the Bible. When I was a child, I wanted to be a priest. It was not because of the elegant clothes of the
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scouts of the Knights of Cologne or because of the admirable nuns who took care of me. It was because of the priests who were manifesting themselves with the blacks, who tried to end the war or who consecrated their lives to the poor. They
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clearly transmitted to me what Jesus preached: that the first will be the last and the last will be the first; that the rich will have it very difficult to go to paradise; that we will be judged by how we treat the disinherited; and
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that for God there are no people more important than the poor. Since then, it seems that Jesus has been kidnapped by a lot of people who believe that the Son of God was sent to us to create a paradise on earth for the
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rich. I have had to skip that chapter of the Bible in which Jesus becomes a capitalist. Please, Master, tell me, how can I reach eternal life? Go ahead and optimize your benefits. You say that the kingdom of heaven is near, but when will it come exactly? When you liberate
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the banking sector. Help me. I've been doing this for 20 years. I'm sorry, I cannot heal you of a pre-existing ailment. He'll have to pay for it with his pocket. I don't think Jesus came to earth to ring the New York Stock Exchange bell. and
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yet from the beginning the rich have appropriated it when I'm on Wall Street and I realize that it is the neural center of American capitalism And I realize what capitalism has done for the workers of this country, for me
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it is a sacred place. And even more, during the whole stage of the Iraq war and the war against terror, if you look at the stock markets of the whole world, as well as the world economy, you will see that despite those cores
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of instability and murders that we have described, they have never gone better. both the global economy and the global stock markets. Jimmy, is it a miracle of God or is it related to the victories of the growing capitalist world or both?
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They think Wall Street is a sacred place. What would Jesus think about capitalism? I think he would simply refuse to be part of that. Would Jesus refuse to be part of that? But probably, it would have a special place up
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there for those who spread a secret Citibank memorandum with their plans to dominate the world. In 2005-2006, Citigroup wrote three confidential memorandums to their richest investors about how things were going. They came to the conclusion that the United States was
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no longer really a democracy, but a plutonomy. A society controlled exclusively for and for the benefit of 1% of the population. that has more wealth than all 95% of poor households. The note was hacked from the growing gap between rich
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and poor, in how now the rich were the new aristocracy and that there was no end to that easy money train. But there was a problem.
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According to the Citigroup, the strongest and most immediate threat would be the demand by society for a fair distribution of wealth. In other words, the peasants could rebel. The Citigroup lamented that those who were not rich could not have much
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economic power, but yes equal power of vote than the rich. One person, one vote. And that's what scares them. that we can vote. In fact, we have 99% of the votes and only 1% of them.
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So why does that 99% tolerate this? According to Citigroup, it is because most voters believe that one day they will also have the opportunity to be rich, if they continue to make enough effort.
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The rich were delighted that so many people had swallowed the American dream. While they, the rich, had no intention of sharing it with anyone. I think capitalism is much more important than democracy. I don't believe much in democracy. I always say
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that democracy is like two wolves and a sheep deciding what they are going to eat. This is Stephen Moore, who is not a relative of mine. Columnist and member of the editorial board of the Wall Street Journal, the daily Bible of business America.
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I am in favor of people having the right to vote and things like that, but there are many countries that have the right to vote and are still poor.
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Democracy does not always lead to a strong economy or a good political system. Thanks to capitalism, you are free to do whatever you want and take the initiatives you want. That doesn't mean you're going to succeed. Remember, the American Constitution does not guarantee
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happiness. Ah, the Constitution. All my life I have heard that the United States is a capitalist country. So I went to see the original Constitution to see if it was true. I try to see where our economic system is established,
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where it says that we have a capitalist economy. The jurisprudence in the legal part of the Constitution. In no part was the free market mentioned, the free company or capitalism. In fact, the only thing I saw was "we the people". Something about a more perfect union
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and promote general well-being. Well-being? Union? Us? That looked like "otherness". But no, this is democracy. And I started wondering what would happen if the workplace was a democracy. It has always been very different to lead a country and to lead
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a company. It is true. There seems to be a contradiction between the love we say profess to democracy and how willing we are to accept a dictatorship on a daily basis in our work. But in "ISMOS Engineering" in Wisconsin it
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is not like that. They design and build robotics for the industry. The business volume is 15 million dollars a year. All the workers are owners of the company. And it does not refer to those rolls of buying and selling shares. It is saying
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that they are the authentic owners. And we have a totally democratic management where each member has a voice and vote. - Votes in favor? - Votes in favor? We do not decide things according to money. Obstructing themselves from money
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to be able to make decisions themselves, they earn more money. Cool, right? Yes. And how patriotic, for wanting to take their love for American democracy to their workplace. Imagine that you and your colleagues manage the company. They would not carry out template
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reductions to increase the value of your shares, right? They would not raise the salary while they lowered it to their colleagues.
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We don't really do that. You can't do it because everyone else is watching you and they'll say, "What a fricking avaricious guy he is." That would be very obvious.
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The bottom line is that there are a lot of people here who work hard every day, and if someone in the upper part of the chain took the benefits, it wouldn't be fair. Justice in the workplace. What a new idea. In California, there
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is a bakery where workers make thousands of bars of bread a day. The more hours you work for the benefit of the cooperative, the more you share your part of the benefits. The workers here are happy. Nobody is superior to anyone. We
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are all the same. As CEO, I receive the same salary as everyone else. And that has proven to be very profitable for us as workers. These assembly chain workers earn more than $ 65,000 a year, more than triple than a new American Eagle
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pilot. I just hope people take note of our way of organizing work and consider it a good alternative. Why do you want to get rich? How many cars do you really need in life? It is clear that cars do not go to
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him. But nothing happens. His bread maker and hundreds of cooperative properties of his workers are proof that people are not always motivated to get benefits. A historic victory over a disease in life. Instead of using his genius to cover himself, Dr.
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Jonas Salk devoted all his time to introduce monkey kidneys in a blender, with the intention of finding a cure for poliomyelitis. And when he found it, he decided to give it away. That man could have made a lot of money if he had
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sold his vaccine to a pharmaceutical company. but he thought his talent should be at the service of the good of all and that the acceptable salary he earned as a doctor and research professor was enough to live comfortably. Who has the patent for
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your vaccine? Well, I would say that people. There is no patent. Can you patent the sun? We have traveled a long way since the time of Dr. Sol because today our best minds are used for other purposes. Where do we send our young
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mathematicians and scientists? To the financial sector. They don't do science, they go to Wall Street. Today, students, unlike those of Dr. Schalk's time, leave the university with a debt that can go up to 100,000 dollars or more. These students will be indebted to
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the banks for the next 20 years. And the best way to return the money to those banks is to work for them, instead of doing it for the common good. We've taken people who could be very productive, something that we're
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short of here, and we give them an activity that isn't simply less productive, but where they're actually destructive. Where they actually, every day they work, they make the world worse. So, what are the Harvard and other universities working on? -
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In derivatives. - Derivatives. - Derivatives. - Derivatives. Credit. I can't find any sense in that. I give up. That's exactly what I felt when I started hearing these new terms. So I went to the New York Stock Exchange in search of answers.
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Sir, can you explain to me what the derivatives are? Derivatives, credit derivation. Can someone explain to me what they are? Sir, can you explain to me what a credit derivation is? Can you tell me what a derivative is? Can you explain to me
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what a derivative is? Nobody wants to talk to me. I'm sorry, I'm a worker.
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Yes, I see. Hello. Hello. Hello, I need some advice. Yes, good. Do you have any advice for me? Stop making movies. Derivative? Credit derivatives? I finally found a guy on Wall Street who wasn't a film critic. Marcus Hobb is an engineer, graduated
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from an elite university, vice president of Lehman Brothers and spent 15 years in Wall Street creating what they call complex financial instruments. What is a derivative? A derivative is actually a second bet on the underlying product, so you can have an action and
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then have an option on that action and an option on that action gives you the privilege but not the obligation to buy or sell. How would I explain it?
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You can decide whether or not to do that operation. In other words, the price of the derivative is based on the price of another product. It's like a second degree equation if we consider a ... how to say it ... maybe I should
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rewind, let's start over. Let's go back to ... I was lost. Maybe someone from Harvard University can explain it to me. Yes, yes, the buyer, so the seller retains the loan and could not pay and sell to someone else ... sorry, let me start again, I apologize,
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they are very exotic In short, derivatives are only complicated bets This is the aspect that has the equation of one of them, do not know? It does not matter, that is the intention. They have done everything so confusingly to be able to do what they want. Let's say you're
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a lawyer from the government that tries to find out the derivatives that infringe the tax legislation. If you find out what they are doing, it is very likely that that Wall Street company will offer you a job. Can I go to Wall Street
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and just ask them to offer me a derivative? Yes. Believe me, each product has a derivative. That's what Wall Street has become. in a hellish casino we have allowed them to play with anything including our family home the
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most powerful banker of the 20th century Greenspan has become an icon of finance Greenspan says that the economy is going great Greenspan is out of control What do Mick Jagger and Alan Greenspan have in common that doesn't satisfy them? Alan Greenspan, who is considered the smartest man
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in history, started using the phrase "take advantage of the value of your home". He claimed that Americans could take advantage of the value of their homes and that was his way of saying "hipotect your home and if you can't pay it, lose it".
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The first to be convinced were the elderly who already had a house to refinance and thus lose it Yes, get the elderly out of their homes The trick to steal your house from people was masterful This is the method First tell a landlord who owns a
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bank and that bank is your own house So, if your house is worth $250,000, it turns out that it is a 25% millionaire. It has a gold mine. It owns your own bank. Your own bank. And you can use it
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to get more money. You just have to refinance. Everyone does it. Of course, in hundreds of small-letter pages there are twisted clauses that allow the bank to raise the interest rate to the extent that you will not be able to return the loan.
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But it does not matter. If he can not pay, we simply remove the house. Of course, to remove the house, before they had to modify the regulations.
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What is this photo I found here? It was in a report from the FDIC John Gillian, head of the Federal Office of Control of Savings Cases that must regulate the institutions of savings and loans is the one from the Sierra Mecánica the other
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four idiots smiling in the photo are the three main members of the bank pressure and the deputy director of federal deposit insurance corporation are poised next to a lot of regulations supposed to show their intention to destroy them and they succeeded. Now we know what happens when the regulations are destroyed. A
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financial catastrophe occurs. A couple, she pregnant, with many debts. A young couple without money to give an entrance. A small businessman who has not been able to document his income. In the three cases, three different entities denied them a mortgage loan. I have
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managed to Countrywide approve the loan. Don't be fooled by that charming smile and that blonde mane. He's letting go of the same vibe that would let go of the mafia in his neighborhood. I know what you feel. You have a lot of debts,
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you don't have money for an entrance and you can't prove your income. It doesn't matter. I'm going to offer you a loan that you can't refuse. It's called "sublime".
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Yes, you don't pay interest now, later you will pay a little more. Don't worry about the future. We'll take care of you. And just like the Mafia, Countrywide, Citibank, Wells Fargo, Chase... Shut up! Move! ...some day they will come to charge and take away their
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home. I was paying $1,700 a month without any problems. Then it went up to $2,000, then to $2,300 and later to $2,700. I can't do it anymore. These are the hackers from Peoria, Illinois. Randy works on the railroad and donates
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in old people's homes. His farm, which belonged to the family for 40 years, was seized by Citibank. Randy had a labor accident a few years ago and now he is charging a pension for disability. They have stolen everything, as I say, absolutely everything. The savings of my whole life and everything
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from a lead with a lawyer and a judge. The hackers taught me the city bank notification, what caught my attention was what city the mortgage came from.
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It turns out that a company owned by the big banks has decided to process 60 million mortgage loans, look where, through one of the most ruined cities in the United States. That company hires the inhabitants of Flint to send about 60% of the country's embargo notifications. In what seems like
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a cruel joke, my hometown helped now to turn the rest of the United States into another Flint. When a bank leaves a family on the street like the hackers, Hire professionals to clean. In this case, the bank thought: "Why pay a money when we have a desperate family that
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will do it for little money?" As a last humiliation, the hackers started working for the bank that took their house from them. The property must be delivered after it has been cleaned. The garbage and personal effects must be removed. Upon delivery of the keys, the representative of the bank will deliver
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a check of $ 1,000. -I already have a thousand bucks to get out of my own house and clean it. I want to thank you, it's too much, you know? My wife was cleaning for a week so that the house was presentable to
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others. I'm glad they did it, I must thank you. It was all a detail on your part. Yes, I would like to thank you, I believe so.
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The keys. I no longer need them. Oh, this is our bedroom. Very good. I try to remember which is which. Well, I put a padlock for the children because I have weapons. Here you have your money, Randy. They are being
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witnesses of a robbery. And, uh, anyway... I begin to understand people who go crazy. They enter there and start shooting these individuals and that. I would not do it, but I understand that people get to that situation. People
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who enter there with bombs make them explode and shoot people. Everything that happens to them, they deserve it, it's all I can say. I wish something happened to them. Yes, finally. I can not say more.
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An animal ran over there. This is Bob Feinberg. He managed all the loans of Countrywide, the most important mortgage company in the country. Although Countrywide specializes mainly in loans with shamefully high interests for people with little resources, Popper's job was
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to take care of some of the country's main political leaders. One day, one of the bosses called me to his office and said: "I want you to call this guy." I answered: "Okay." And he added: "He's a friend of Angelo." "Angelo Mozzillo is
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Countrywide's president." "Offer him this type of interest, don't charge him, and close the deal." And don't fuck it up. I was like, "Oh, okay." So there was a special department to handle Angelo's friends. We'd give them discounts, we'd cut costs, and sometimes we'd even cut paperwork.
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We were literally in the ADA column, so Angelo's friends were really important people. I attended Richard Holbrook, the Holbrook ambassador, Donna Shalala, people of the congress, people who regulated the mortgage markets, people who regulated Wall Street, and Jim Johnson, president of Fannie Mae, Alfonso Jackson, Secretary
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of Housing and Urban Development, Senator Conrad of the Finance Committee, I had the TV on at home, I was in the kitchen and I heard a voice pontificating on shameful loans and how to end them. Our financial regulators are like
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the police. They protect Americans from financial sharks without scruples. Senator Dodd spoke, Christopher Dodd.
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I was watching TV and I was pissed off. Some of these loans are justified when they are granted to sophisticated people with high incomes. I had granted him several loans with discounts and all the benefits that are granted to Angelo's
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friends. The Senate Banking Committee is the guardian dog of the mortgage industry. Senator Dodd presides over that committee and has been working on it for more than 28 years. As Angelo's friend, he received loans with Countrywide discounts for more than
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a million dollars. Someone next door here is offering a junk mortgage to a client. I was always required to give the most advantageous loan to that VIP. Did you ever feel like you were being bribed? I didn't feel like I was bribing
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anyone. I only did my job, I was in charge of the VIPs. Everyone in the company knew who I was, everyone. And in a way I felt praised. I don't think I did anything wrong at all. If I hadn't done it, I would
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have done it. That's why we need people like Bill Black, one of the bank regulators who uncovered the scandal of loans in the 80s. There have been abuses and regulators know it. One of the key figures of that scandal, Charles Keating, had
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an idea of what to do with Bill Black and sent a report with these instructions. I asked him who was taking care of us now. Where was the FBI in all this? The FBI began to perceive in September 2004 that there was an
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epidemic of mortgage fraud perpetrated by banks and used that word "epidemic". But with the attack of the 11-S, Bush's administration transferred at least 500 FBI agents specialized in economic crimes and removed them from the investigation. Even though during his entire term there were the greatest number of white collar crimes in
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the nation's history, even in the history of any country on the planet. The FBI says that 80% of the losses caused by mortgage fraud are induced by the debtor's staff. What does that mean? It means that it is not the borrower who comes
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from the street to fraud the society of savings and loans, but they are frauds directed by who is controlling the organization. Let's see. In other words, which are usually the presidents. Did the presidents think they would get away with it? They have gone
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out with his. Yes, apparently they have done it. And with some presidential elections around the corner. Define rich. Five million. The elite feared that his criminal career would come to an end. After burning thousands of millions to the Americans, taking away their houses,
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ruining them when they were sick and convincing them to invest savings and pensions in the casino of the stock market, the rich planned their last robbery for When their 30 years of party came to an end, take all the
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money they could. They needed a distraction maneuver. As they learned in the 11-S, nothing is more effective in the homeland of the brave than the old fear of always. To offer a last terrifying performance, who surpasses Chicken Little? Members of the Academy pay attention. good
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evening this is an extraordinary period of character for the American economy the top government economy experts warn that without an immediate action from the congress the us would fall into a financial panic whose consequences would be very serious More banks could fail, and
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even some in the community. The stock market would drop even more, which would reduce the value of the retirement account. The value of your home could drop significantly. The rents would increase considerably. And if you own a business or a farm, it would
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be harder and more expensive to get a loan. More companies would close their doors and millions of Americans could lose their jobs. Although he has always paid his debts, it would be more difficult to get the loan he needs to buy a car
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or send his children to the university. Finally, our country could face a long and painful recession. Dear fellow citizens, we must not allow this to happen. In fact, that speech was unnecessary. The media was already on the verge of suicide. A
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disaster. The financial system is falling apart. A large bank is collapsing and so are the shares. It's a nightmare on Wall Street. AIG is fighting for survival. Blood in the park. It's Armageddon, a category 5 hurricane that tests our financial dams. What the
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fuck happened? Have you ever seen a dam cede? No. It starts with a little scream, a little escape. For overwhelming majority, the Congress rejects the restrictions. The big banks return to the attack. It starts to destroy the structure of the
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dam. The mortgage poison infiltrates the banking system. The dam begins to self-destruct. The weight of the dam and the water join in its concern. Investors sold as if it were shares of Baird, taking Wall Street to a mass sale. Fannie Mae and Freddie
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Mac shares have plummeted this morning. Water is starting to leak. Wall Street begins its seventh day of losses. Blood continues. And suddenly, portions of dams from 18 to 20 meters begin to burst. The Lehman Brothers' bankruptcy. Merrill Lynch sold at full speed and
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now AIG. and collapses. The progressive fall of the markets has ended the solid shares. And the water comes out under pressure. This morning Washington Mutual sank. It is the biggest failure in the history of the US bank. The shares have
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collapsed. The biggest fall in points in history. And destroys the rest of the dam. The whole process seems to have lasted only two minutes. but of course it has been the small crack that has been there for years the one that has actually destroyed everything the system was fundamentally
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defective built on sand not on stone and it was totally rotten It seems like capitalism is falling on itself. And here, who has enriched? A lot of people have enriched during this period. Mainly the high-ranking directors and the directors of large banks, credit institutions and those
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who granted high-risk loans. These people became incredibly rich. and some members of the congress also got rich, especially after leaving it, some went to work for financial institutions. Yes, like Rubin and Summers. Robert Rubin, who was a member of the City Group and Goldman Sachs board, supported that the laws allow
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to expand the activities of banks to the investment bank and exotic insurance products. This allowed the merger of City Corp and Travelers Group An operation estimated at 70 billion dollars, thus creating the largest bank in the world After leaving the Clinton government, Rubin worked for Citigroup, earning more
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than 115 billion dollars And where did Summers make his money? Summers made his money as an alleged advisor and giving speeches, apparently, at 100,000 dollars each Summers also earned 5.2 million dollars in a part-time job as a high-risk fund consultant. Where did Geithner work? Geithner's
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life is full of failures. Everything he has done has been a failure. Most of the institutions that have destroyed the economy depended on his regulatory authority. How did he become Secretary of the Treasury? Failing completely as President of the Federal
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Reserve Bank of New York. That doesn't make sense. Of course it makes perfect sense, it makes a lot of sense. This is not new to Washington. People who give you the wrong answer, but it is the answer you want, it has no
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price. And they often get a rise precisely because they are willing to say and do absurd things. These are the people who promised us that financial deregulation would make us rich. And instead, they have been the ones who have enriched themselves.
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It is not surprising that the rich would like to get even richer but now they have invented a new and bold way to get it park a van in front of the treasure department and take 700 billion dollars of our tax money will
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not ask questions I have Michael Moore in front of me. You know who Michael Moore is, don't you, Betty? The film director. He's filming me right now. My wife is on the phone. Oh, hi. How are you? I'm Baydon Hill from Indiana. How
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are you, sir? Good. We're from Michigan, you know? Yeah. How did this disaster happen?
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I got home on Friday. Everything was just fine. I called the office. As soon as I landed in Indiana... to see how it was going and suddenly we find ourselves with the crisis in hand and on returning on Monday I would have to
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vote for a multimillionaire rescue of the financial sector what they told us was that if we did not act immediately The economy would sink, there was no doubt.
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I thought the announcement of this crisis in September, just a few weeks before the elections, was very suspicious. It's when Congress is more nervous and I thought, wait a minute, what's going on here? This is not normal. The
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leaders of the Congress and the Bush government quickly held a series of private meetings with the titans of Wall Street to decide how much money would be needed to cover all the wrong bets that the investors had made. They reached an agreement with
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Treasury Secretary Henry Paulson, former president of Goldman Sachs, whose net wealth was 700 million dollars when he left the company to run the Treasury Department. I think we saw the best of the United States of America tonight in the office of the
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president of the chamber the best of the United States Or he meant the best of Goldman Sachs The Treasury Department is basically an arm of Wall Street His senior plan was in Goldman Sachs We currently call it the Goldman government
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That's because in the Bush Treasury Department there were many high positions of Goldman Sachs, as in the Clinton era They acted as a powerful group of pressure from within to abolish financial regulation while we paid them the salary. Paulson, the
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Treasury Secretary, was not in Goldman by chance. He was the one who filled them to buy those exotic derivatives of the house. So he got Goldman into a huge amount of trouble. The volatile real estate derivatives had ended Goldman's competition.
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and with the "Golden Boys" making decisions in the government they would make sure that when things calmed down, Goldman would become the king of Wall Street. So the last people who would have to advise the treasury should be those of Goldman. Naturally, Paulson,
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former general director of Goldman, places them. And what advice do they end up giving?
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because using the money of the contributors to save goldman and other financial institutions friends and good secretary polson has presented a simple proposal and here it is three pages comes out to about a billion dollars per word and it's quite
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simple. Secretary Paulson will have the key to the treasure in his power and will start lending 700 billion dollars in the name of the American people. And then maybe more, suspending all laws, ALL the laws. Not even a court review. It's a very
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simple proposal. We are in a real crisis that could end in something worse than the Great Depression. I saw fear. One gentleman was made to cry. People are telling us it's going to be a huge disaster. And I'm going to be reelected in
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two months. It's only eight weeks away. I don't want to make a mistake. What would be the right thing to do? Heaven help us. If we fail to pass this, I fear... The worst is yet to come. And some members were even told
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that if they voted no, martial law would be restored. They were getting it in their mouths. They wanted us to vote for the "yes" immediately, without even analyzing what they were doing. - Without debate. - Without debate. I was not going to allow
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it, you know? They had already cornered me once, to vote for the resolution against Iraq telling me some lies, and I was not going to make the same mistake again. I will not wait for events while the danger increases. I will not stay
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with arms crossed while the danger gets closer and closer. Use fear and you will get what you want. They made a pressure point in this framework two months before the elections. People understand that the House of Representatives has to approve this
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law. Mr. Speaker, my message to the American people is that the Congress should not approve this deal with Wall Street. These criminals have so much political power that they can neutralize the normal functioning of the most important legislative body in this country. All
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the committees that should be examining every word of what is being negotiated have been excluded, and that means that the American people have also been. We have sworn on the Constitution to protect and defend this Republic against all enemies. Inside or outside. Announce
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a disaster like the 2000 effect. This is the same fear policy we're hearing from the fat Wall Street fish. Why aren't we asking Wall Street to clean up its own garbage? Why aren't we helping the families on the edge of the ruin? And
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why aren't we reducing people's debts instead of Wall Street's? This is the US Congress or Goldman Sachs' Board of Directors. The day after the vote, the American people, in an unprecedented number, flooded the Capitol Hill with messages demanding that Congress vote
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no. The financial rescue plan has been defeated today, rejected by the House of Representatives. The stock market has fallen, the biggest fall in Dow Jones points in a single day in history. The question is the following: Is the rejection of the rescue plan enough reason to leave all congressmen without
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a fight within five weeks? Twelve votes decided it, and also the voices of many Americans who called their representatives and said no. Then the Congress voted no. Tonight, its members have abandoned the city. The Congress and Wall Street had never received such a
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vote of censorship. Precisely for this, he had warned the Citibank memorandum that if one day the peasants decided to exercise their democratic rights, the looting by the rich would end. So Paulson and company returned to the Capitol and, unless a rooster sings, signed
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an agreement with the help of the Democrats. This is more important than elections. We have to do it right. We have to act quickly. I agree with the Secretary. In the end, it won't cost us so many millions. We'll recover
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most of it, maybe everything. The Democrats became the ones who were worth a bill for the Republican president. Both the president and the future president made calls. And there were congressmen, I know at least two, who were interested in being senators. They promised
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things. In a matter of days, the Congress backed down and granted the banks the 700 billion dollars they wanted and the people they gave them. In this vote, there are 263 votes in favor and 171 against.
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The motion is approved. It was carefully planned, to happen when it happened, to involve the players involved. The message was very careful. They had Congress exactly where they wanted it. You don't think it was just a fortuitous act? No. This was almost like a crime operation.
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That had to be coordinated at the highest level. This whole fiasco shows that there are some forces that are not democratic.
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Exactly, that are in control. Big time. Totally. They did a magnificent job. Very well executed. Do you think it's too harsh to define what happened here as a coup d'etat or a financial coup d'etat? Well, no. Because I think that's what
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happened. A financial coup d'etat? Yes. I could agree with that. Because these people are not really in charge. Wall Street is in charge.
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Where's our money? I don't know. Citigroup is going to spend 50 million dollars on buying a luxury private plane. You don't know, but you're the person in charge to supervise it. Goldman Sachs has reserved 6,800 million dollars for
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premiums. But Treasury Fonds has followed the policy of "I don't ask the banks what they were going to do with the money." And if they don't ask, the banks don't have to answer. A and G meetings in a holiday center. That doesn't make
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any sense. We have news that 73 people received at least a million dollars each.
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And why doesn't the Treasury Department ask the banks what they do with our money?
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You're going to have to ask Secretary Paulson that question, because I've asked that question as president of the Toxic Activity Rescue Committee, and so far I haven't received an answer. Maybe you're luckier. - Good afternoon, this is the office of Han
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Paulson. - Yes, this is Michael Moore. I'd like to speak to Mr. Paulson. - Excuse me, can you repeat your name? - Michael Moore. - Michael Moore? - Yes.
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- Hello? - Hello? - Hello? - This is crazy. - What they're doing with our money is crazy. If I could get it back to the US Treasury... - I'd support you.
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We're here to get the money from the American people. I understand, sir, but you can't get in here. Could you at least take the bag and carry it upstairs?
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Absolutely. And fill it? I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've
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got more bags. I've got more bags. I've got more bags. I've got more bags.
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I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've
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got more bags. I've got more bags. I've got more bags. I've got more bags.
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I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've
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got more bags. I've got more bags. I've got more bags. I've got more bags.
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I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've
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got more bags. I've got more bags. I've got more bags. I've got more bags.
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I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags. I've got more bags I had the same answer. - We actually come to make the citizen
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arrest of the entire board of directors and executives. - He will have to talk to my supervisor. There he is. - Where is he? In white shirt and blue tie? Is he half bald? They are using the money to buy other companies and,
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well, it's our money from the rescue plan and ... oh, oh, a police officer.
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I wanted to do the citizen arrest of the general director, Mr. Blankfein, and well, since he's here, he could help me. - Well, let's go, sir. - 170 billion dollars of our money from contributors. - You can't come in here, sir. - I
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know, but I'm here to do an arrest. - No, not in the building. - But I'm here to do an arrest. - Do it outside, sir. - I can't do it outside, they're upstairs. - I'll do the arrest, sir. What? You can arrest
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someone? If you can, I can too. No, sir. Get out of the building. Who else wants to get out of the building? Your camera and your equipment. Oh, they don't speak English.
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Donde? Those guys have broken a lot of laws, you know? That's money, that's theft, that's fraud. I'm going to take it back to the US, right in this car. It's safe. You can trust me. There are just these little hints that...
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that the unimaginable could occur, that is, that people, in general, in the United States, could become angry with the rich. What a shame! What a shame!
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The people who have enriched themselves in this country in recent decades, did not even produce the things that everyone liked. They were playing games that ended up hurting everyone. How do you sign financial news? A, I, G. So the economy was
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affected by a kind of disease. It was strange to see the Americans turning against the rich, taking into account the carrot that they have always put in front of our nose. That is, that one day we could also be one of them. But
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people started not to believe it. And that scared the rich. because there in the distance they heard something coming and it was not another dry martini it was the whole town we are prepared to take this country in a totally different direction that is what is happening in america right
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now what is happening is the change oh shit this was not what wall street wanted and if it won what would happen with his way of life so they did what they always do They offered him as much money as they could. Goldman Sachs became his main private donor
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with almost a million dollars in donations. But even so, they were not sure what he would do. What did he think of them and their lifestyle? my opinion is that if the economy benefits those below will benefit everyone I think when you distribute wealth well everyone benefits senator
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obama wants to distribute wealth I or the fountainhead told him that this plan is a socialism I love the us and I want to make sure that it remains a democracy and not a socialist society The campaign of
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fear did not work. In fact, the more they called Obama a socialist, the more it went up in the polls. And since they used the word so much, they made a new generation interested in knowing what it was. For example, few of them knew that in the US Senate there
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was already a socialist. Of course, it was from the Guy Berman state. You say you're a socialist. What does that mean? Well, I'm a social democrat. That means that the government's job is to represent the working people and the middle-income people, instead of
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just the rich and powerful. We've become very religious in the sense of venerating greed.
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We put on magazines people who have earned millions of dollars and we ignore the police, firefighters, teachers or nurses who do so much every day to improve people's lives.
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We must change the system of values. Hmm. That doesn't sound so bad. I mean, it sounds like America. Well, on election day, the Rasmussen probe company reported that only 37% of young adults preferred capitalism to socialism.
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I hope the economy goes well because I have invested in the stock market. It's 11 o'clock at night and we predict that Barack Obama will be elected president of the United States. Just two years ago, If someone had predicted this moment, they would
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have taken him for crazy. This shows how fast things change. It was, in an instant, the goodbye to ancient America. The country burst with joy with Obama's victory. And suddenly, people were encouraged to do things that they would never have done before.
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like the sheriff of Detroit. Thank you Joe, I appreciate it. Who decided it was time to enforce the law to help people. Don't you think it's weird that they have asked the government to rescue him? I thought the companies didn't do that. 101
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Radio. I thought that in the free market, either you sink or you swim. I saw them sink and cry like kids so that everyone could help them. Today I will stop all mortgage transactions in the county of Wayne. I cannot allow more
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families to lose their homes due to a mortgage. What would the banks have thought when they saw that the law that should protect their interests was being altered?
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Do you think the free market has failed in Detroit? I think the free market has failed in the whole country. This is crazy. Totally destroyed neighborhoods because too many houses have been flooded and you wonder, "Is this really America or is it a
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third world country?" What are we doing? Until things get so bad that people can only reveal themselves. And that's called revolution. Sometimes the revolutions begin in the most unsuspected places. Annie, wake up! They live inside a truck since a bank seized
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the house they owned 22 years ago. The Troddy family in Miami, with the help of their neighbors, decided to take action. On behalf of this family and this community, we return this house to this family. Take that sign off, take it off!
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When I say community, you say power! Community! Power! Community! Power! Community! Power! Community! Power! Community! Power! The man from the bank who had evicted them did not take long to return. See this? Come and take a picture of this. This is a flat. We proceeded to a eviction here and people have
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reoccupied the property. Yes, please, I need the police to come. When all these houses are empty, the other houses depreciate. - Sure. - So if you let these people stay in the house, it will help them, not only them, but also the others.
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The point is that if the bank allows people to come back in, the bank loses the opportunity to sell the house to another, okay? - Yes. - The banks are selling many houses. If the bank allowed everyone People would have a place to
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live It was so rare that people resisted that nine patrol cars responded to the call Taking into account the neighborhood, the speed was impressive I'm not saying he's in command, I'm just saying you can't be left without surveillance But the
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Troddys remained firm We don't have another place to go. Exactly. We're forced to live in a truck. This was our plan B. We don't have a plan C. That is our grandmother. And it's not right to expel her after 22 years. And now
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you're going to throw her out. What does it feel like to throw people out like that every day? It's not fair. She should be ashamed of herself. Where is the money the federal government put in the bank? Where is the money? And
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now you come here. You are the criminals because this house is ours. Soon you will have to arrest babies because you are kicking everyone out. Like a tree, rooted like a tree, we are here, keeping ourselves in our legitimate place.
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Well done, good job. Very good. There is nothing like the power of the people because the power of the people will never end. There is nothing like the power of the people because the power of the people Don't leave your homes. Because you know what? Those companies can claim they have the
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mortgages, but if you don't have a lawyer who can see and touch the original documents, those mortgages don't exist. And you'll find that in Wall Street, you won't find those papers. So I say to the American people, who are squatters in your homes,
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don't you leave. In Ohio, in Michigan, in Indiana, in Illinois, and in all those places where they treat our citizens like cattle. This Congress is blocked. Damn! Not every day you see a member of Congress encouraging the popular rebellion. Meanwhile,
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in Chicago, the workers of the Republic's doors and windows had a great idea. They thought and decided that it was unfair to fire them without notice, without compensation, without paid holidays, and to withdraw their medical coverage. So they devised a plan. to communicate to
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the bank of america and the owners of the company that things had changed in the us that they would not leave the building until they were paid what they owed if it was an occupation of the factory in all order we understand that maybe some agreements were made unfavorable but
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you know that we do not we dedicate ourselves to making commercial agreements we make doors and windows because they have to punish us The union leaders and workers prepared for the more than predictable police assault. I'm willing to take a risk. And you're willing to be stopped? Yes, I'm willing
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to be stopped if necessary. We've been here since yesterday and we're not going to move from here. We've committed to this. The media did not take long to appear. And as the whole country was against the rescue plan, not even the
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chains and their informants were already in favor of the banks. In Chicago, a group of workers saw how all the contributors rescued the financial industry. Now those fired workers demand that Bank of America dedicate some of the money from those funds to rescue
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them. "Bank of American Thieves". If we, the contributors, are going to provide a rescue to companies like the Bank of America, then the least they can do is to allocate funds to help American workers. 25 billion dollars for the Bank of America. I
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don't know. How can people who act like this sleep peacefully? I don't understand. What's the point of rescuing them if they don't have a job? And the occupation continued day after day. The police had not yet made an appearance, but
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the son of a metalworker did, and it turned out to be the Bishop of Chicago. Ladies and gentlemen, I am Bishop James Wilcoxley. I know that you are all going through very difficult times. You are teaching our young people that it is
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justified to challenge what is unfair. I grew up in the southeast of Chicago and I saw what happened when all the steel doors disappeared and I saw the impact that had on families but this time we are with you and we will not abandon you
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in the name of the father of the son and the holy spirit amen the body of christ the body of christ the body of Christ. Regarding that situation here in Chicago, with the workers who are claiming the subsidies and the
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money they have earned, I think they are right. What is happening to them is a reflection of what is happening to the economy. He said that what is happening to them is a reflection of what is happening to them. And he said: "What is happening to them is
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a reflection of what is happening with this economy." I saw the Obama press conference this morning. I got up and said that the best thing I could do was to come and help these people. And I brought some food. I brought some sandwiches.
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Great, thank you. In fact, many inhabitants of Chicago came to support the workers. workers have become a national symbol for all employees fired across the country. The occupation has attracted the attention of politicians who believe it exemplifies the imbalance between Wall Street, which
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obtains government aid, and the street people, who are the ones who pay the bill.
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And people began to wonder: Was it the beginning of a rebellion of workers against Wall Street? The people united will never be defeated. Rescue the workers, not the banks. They began to arrive tons of shipments with economic aid and food. The
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truth is that much more than we had imagined at the beginning. So we are a bit like a dream. We even talked about the possibility of managing the factory as a cooperative. We don't have money, we're not capitalists. We do all those
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projects and the workers are thinking about it. And it's a difficult thing because, you know, all their lives they've told us that things are like others tell you they are. And the fact of thinking, "No, I can make them change." It's very strong.
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They sold us and they're rescuing us. You can find us on all national news.
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You're a model for many people. And I'm very proud to be with you. After six days of occupation, the Bank of America decided it was enough. It's better to pay these workers now and start their little revolution. So the bank and the company
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accepted all the workers' complaints. Yes, we did it! Yes, we did it! The compensation for each worker will be very close to the $6,000. But this is about more than money. It's about what the workers can achieve when they organize themselves
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to claim justice. Fight, fight, fight, fight, fight, fight, fight, fight, fight, fight, fight, fight, fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight
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fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight
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fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight
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fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight
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fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight fight, fight, fight, fight, fight, fight, fight, fight, fight, fight, It is a struggle that we knew very well in Flint, Michigan. Because this is where my uncle and
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his colleagues triumphed for the first time on the business interests that dominated their lives. It was December 30, 1936. Hundreds of men and women occupied the General Motors factories in Flint for 44 days. It was the first trade union to
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defeat an industrial company. And over time, that act resulted in the creation of a middle class. But at that time, in the face of the occupation of factories in Flint, the police and the thugs of the company were not going to stay
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with their arms crossed. After a bloody confrontation, one afternoon the governor of Michigan, with the support of the president of the United States Franklin D. Roosevelt, sent the National Guard. But the soldiers did not use the weapons against the workers. They pointed them
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at the police and the thugs on the job, warning them to leave the workers alone. because Mr. Roosevelt believed in the right of workers to ask for the repair of grievances. Seven years later, President Roosevelt was too sick to go to
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the Capitol to pronounce his annual speech on the State of the Union. Ladies and gentlemen, the President of the United States of America. It has always been my habit to pronounce these annual messages in person. So he did it on the radio from
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the White House. At the end, he asked the cameras of the informants to enter his office because he wanted the American people to contemplate a specific part of his speech. Then the president of the United States took a radical step by
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proposing to add a second declaration of rights to the constitution. Currently certain economic truths are accepted as evident by themselves. A second declaration of rights, under which a new base of security and prosperity is established for all citizens, without distinction of social position, race or creed. Among these
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rights are: access to a useful and paid job; the right to sufficient income to provide adequate food, clothing and distribution; the right of every farmer to grow and sell his products; with a benefit that allows him and his family a dignified life. The right of all businessmen, large
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and small, to exercise their activities in a climate of freedom, free from disloyal competition and domination exercised by national or foreign monopolies. The right of each family to a decent home. The right to adequate medical coverage and the possibility of having good health and enjoying it. The right
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to adequate protection against economic fears linked to old age, illness, accidents or unemployment. The right to a good education. All of these rights represent security. And after this war, we must be prepared to move forward in the implementation of
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these rights towards new goals of happiness and well-being. Because unless there is security here in our country, there cannot be lasting peace in the world. Roosevelt died after a little over a year. He would not live to see the end
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of the war, nor would his new declaration of rights be promulgated. If he had lived and achieved it, all Americans, without distinction of race, would have had the right to decent work, a reasonable salary, a universal health system, a good
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education, a house they could afford, paid holidays and a suitable pension. None of this came to light.
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No American was guaranteed any of these rights. But Europeans and Japanese did get them. How could it happen? After World War II, Roosevelt's government helped to rebuild Europe. During that time, new constitutions were written for the defeated nations:
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Germany, Italy and Japan. The Italian constitution guaranteed women equal rights, and that was in 1947. The German constitution said that the state had the right to take over properties and means of production for the common good. And this is what we write for the Japanese: "All workers have
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the right to organize themselves in unions and the freedom of teaching is guaranteed." During the next 65 years we do not become the country that Roosevelt wanted. Instead, we become this. I remember thinking, during the floods of Katrina, why are always the poor who suffer the misfortune? Why
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is not Bernie Madoff who asks for help up on a roof? Or the president of the Citibank? Or the uncles of the high-risk funds of Goldman Sachs? Or the president of AIG? They are never those guys who pay, right? They always pay those
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who never eat a piece of the cake. Because the others have left everything behind and left them with nothing. They have let them die. I refuse to live in a country like this. And I'm not going to leave. We live in the richest
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country in the world. We all deserve a decent job, medical care, a good education, a decent home. We deserve the dream of Roosevelt to come true. And it is a crime that is not so. And it will never be, as
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long as we have a system that enriches a few at the expense of many. Capitalism is a evil and evil cannot be regulated. It must be eradicated. and replace it with something that is good for everyone.
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And that something is called democracy. Crimes have been committed in this building. I'm here to make a citizen arrest. Please come down and get out of the building. Don't be afraid. The Federal Prison is a very nice place. You know, the truth is that I can't go
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on with this. Unless you, who are watching this in the cinema, want to join me. I hope you do. And please, hurry up. Arise, you workers from your slumber. Arise, you prisoners of want. That's right. Reason and revolt now thunder. Chains of
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hatred, greed and fear. Away with all your superstition. Survival says arise. We'll change henceforth the old tradition. Just to win the prize. So comrades, come on and rally. Then the last fight, let us face. The inside unites the
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whole darn human. So comrades, come on, let's go rally. The last fight, let us face.
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Deluded by reaction On tyrants only we'll make war The soldiers too will take strike action They'll break ranks and fight no If those cannibals keep trying To sacrifice us to their Each of us must do And we'll strike So comrades,
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come on, let's go rally And the last fight Let us fade into Unites the whole beautiful human race So comrades, come on, let's go rally Ha! The last fight, let us be into it Jesus Christ was a man that traveled through the land, a
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carpenter true and brave. And he said to the rich, give your goods to the poor, and they laid Jesus Christ in the grave. He went to the sick, and he went to the poor, and he went to the hungry and the lame.
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And he said that the meek would inherit the whole world And they laid Jesus Christ in the grave One day Jesus stopped at a rich man's door What must I do to be saved? Take all you own and
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give it to the poor And they laid Jesus Christ in the grave When the love of the poor shall one day turn to hate, And the patience of the workers give away, Would be better for the rich if they'd never been born, So they laid
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Jesus Christ in the grave. When Jesus came to town, all the working folks around believed what he did say. But bankers and preachers nailed him to the cross and they laid Jesus Christ in the grave. Well, the people held
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their breath when they heard about his death. And everybody wondered why Was the landlord and soldiers, lawmen buried hired, that nailed Jesus Christ in the sky. We would lay Jesus Christ in the grave, Lord, we would lay Jesus Christ in the
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grave. If Jesus preached today like he preached in Galilee, we would lay Jesus Christ in his grave.
Topics:capitalismeconomic inequalityhousing crisisevictionsMichael Moorereal estate speculationplutocracyeconomic crisissocial justicedocumentary
