Last night I went to a fabulous Oscar Party. We dished, we laughed, we made fun of all of the actors (especially the really 'unfortunate,' gowns that were on display, (and yes, Cate Blanchette I talking to you babe...next year do not, repeat do not let Captain Kirk of Star Trek pick out your dress for you honey). Anyway, the Oscars were boring but there were a few shining moments.
The moment that got me, and btw, this really is a big fucking deal (eat your heart out Joe Biden) was when Inside Job won the Oscar for best Documentary. Charles Fergurson's acceptance speech was stunning, and music to my ears because I knew that millions of people were about to be drawn into the light of day to understand exactly who is responsible for this World Wide Revolution we are now experiencing.
Mr. Ferguson is that rare individual who actually believes in holding those accountable who got away with economic terrorism and still are to this day. Upon receiving the Oscar, instead of giving a litany of thank you's to various producers, writers, etc., Mr. Ferguson stepped right up to the microphone and said clearly:
"Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong," Ferguson said.
Because I'm in the industry, I became aware of this film last year during the Cannes Film Festival. I read that the film had received an unusual standing ovation during it's screening and I immediately hunted down the producers to ask if they had a trailer for the film. They wrote me back, and said (at that time) they did not, but would be back in touch with me when they did. I wasn't disappointed. To date it is the finest film that uncovers the horrifying truth of those Wall St./Bankstas that got away with trillions of dollars, ruining our national and international economies, leaving millions of people homeless, without a job. Pension funds and retirement accounts were swallowed whole, while our government simply stood by and let them rape and pillage our way of life in this nation.
"Inside Job" won the 2011 Academy Award for best documentary on Sunday night. The film's director used his acceptance speech to delivery pointed criticism of Wall Street and the financial industry. The Oscar buildup featured speculation about whether Banksy, a mystery man of the street-art world, might show up for his awards entry, "Exit Through the Gift Shop." If he was at the Oscars, he did not declare himself.
But it was the topic on most people's minds the last two years, the economy, that resonated among Oscar voters. "Inside Job" director Charles Ferguson subjected Wall Street players, economists and bureaucrats to a fierce cross-examination to depict the economic crisis as a colossal crime perpetrated on the working-class masses by a greedy few. His film examined the financial crisis of 2008. His speech lamented the lack of accountability three years later.
http://www.huffingtonpost.com/...
One of the many reasons, that receiving this Oscar is so important for Inside Job, is that when the movie goes to DVD and moves into the market, the cover of the DVD will include a picture of the Oscar. This will draw an entirely new audience to the film, and thereby millions of people that may not have heard about this amazing film will become aware of exactly how our world ended up in a 'shit storm hole from hell' that we may never recover from, and indeed by all accounts is already leading to deep reactionary politics and civil unrest.
It didn't have to be this way people. Granted, there were tough choices to make at the time that George Bush and Hank Paulson threatened Congress with martial law if they didn't 'play ball and hand over the loot,' but after the fact the continued cover up and corruption that ensued...the 'looking forward instead of backward,' while passing a 'joke' of a Financial Reform Bill has led our nation, Europe and the Middle East into the hands of an out of control Oligarchy that has decided to just double down (hey, they figure they got away with it the first time, why not just keep stealing?) and continue their nefarious ways, as the move into so called 'austerity mode,' to make certain the working people and poor of the world pay, and pay dearly for their own criminal behavior.
After all, who is going to stop them? Certainly not our government.
This is an American tragedy. This is a economic tsunami of catastrophic proportions. Our housing market has collapsed and there is no end in sight, nor is there any real program in place to turn this around in our country. Illicit foreclosure mills run rampart as the cowardly 50 State US Attorneys are playing, 'let's make a deal,' with the Banks, while homeowners are demanding criminal charges.
WASHINGTON -- Fifty state attorneys general and nearly a dozen federal agencies are currently hashing out plans for a multibillion-dollar settlement with some of the nation's largest banks over alleged mortgage abuses. But some consumer advocates argue that the figures being discussed are too small to account for the economic damages incurred, and say no deal will be acceptable without criminal prosecutions of the bankers. There is no indication that such charges will be filed under the deal currently being negotiated.
By contrast, more than 1,100 bankers went to jail after the savings-and-loan crisis of the late 1980s and early 1990s. Because regulatory fines are typically levied against institutions rather than key decision-makers accused of wrongdoing, consumer advocates view them as a relatively weak deterrent against future abuses.
"You've got all of the top law enforcement officials investigating the foreclosure crisis, and it seems like if they found evidence that people broke the law, there would be criminal penalties," said George Goehl, the executive director of National Peoples' Action, an anti-foreclosure group. "There's no reason to go to all this trouble and not take that final step. It's mind-boggling for them to be considering letting all these guys off the hook."
http://www.huffingtonpost.com/...
Yes sir, it is mind-boggling that these criminals are off the hook, but that is because somewhere along the line, the powers that be decided that if they let 'anyone' in the financial sector be held criminally responsible, then that old adage, 'if one goes down, we all go down,' would ensue. Thereby setting up a rubber stamp of approval for the destruction of the most basic tenants of contractual laws that have held fast for centuries for property rights.
Two sets of laws: One for the rich, and one for the poor. The people of our nation and the world at large are now being forced into paying off the toxic debts that are still floating around in our shadow banking system, as we watch cities and towns throughout our nation being literally shut down. Police are being cut to the bone, which of course is leading to huge jumps in gangs and violence. School teachers are being cut and fired left and right, and States are cutting medicare and help for those that are most in need and pensions are up for grabs. I won't even go into the problems with the Unions such as is going on in Wisconsin.
It didn't have to be this way people.
When the film comes out on DVD, I'm going to purchase a few copies, and I'm going to make certain, that everyone I know has a chance to see this film. I hope that you will do the same.
Mr. Ferguson, I thank you with all my heart and soul for being a man with integrity and for showing the world that a civilization without a moral compass, human dignity and a respect of basic laws, cannot and will not survive. The proof is all around us, as we watch the world implode. As commodities and food prices soar (the new gambling casino for Wall St.) we will continue to watch the world falling into mayhem and chaos, because our so called leaders, were too cowardly to set the ship right, so that all could survive in a semblance of decency and fairness.
The ultimate cost to mankind/humanity at large for this horrifying mistake to not hold those accountable, will in the end cost the world more than we can ever, ever imagine, and in the end, none of it will be worth it. None of it.
I leave you with Mr. Ferguson's speech upon accepting this Oscar, which was so well deserved:
"Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong," Ferguson said.
Amazing.
Thanks as always,
Ms. B.