bbook:

What stuck with me the most after reading Joe Nocera’s New York Times piece about Lauren Greenfield and her documentary The Queen of Versailles—arguably the most important documentary of the year—was her apparent guilt about revealing the subjects for who they really are. In case you haven’t read or heard, Greenfield’s film chronicles the Siegel family—worth a billion dollars and in the midst of building a 90,000-square-foot mega-mansion—from 2009 to 2011, right in the teeth of the recent recession. Even more incredible, David Siegel made his fortunes through his timeshare company Westgate Resorts, which sells the majority of their timeshare properties to people who usually cannot afford them. They were cinematically perfect subjects for an examination of the over-consumptive top one-percent in America during a financial meltdown. Greenfield captures the Siegel family’s obliviousness, stubbornness, and gaudy repugnance with equally shocking, sad, and humorous grace, culminating in the loss of one of Westgate’s most prized business assets and the discounted, unfinished hotel-sized home being put up for sale. The film should be a lesson to all of us about wealth and irresponsibility and how history has, once again, repeated itself. Greenfield should be proud.

Yet she seems protective of the Siegels, that there may be some inner turmoil for leading all of us to their palace gates. Part of this may be strategy, due to the defamation lawsuit the still very wealthy and powerful David Siegel filed against Greenfield, among others, a week before The Queen of Versailles premiered at Sundance—even though his wife attended the screening and sat right beside the director. However, it’s these types of contradictions that may give insight into another source of the talented filmmaker’s guilt: are her subjects living metaphors for American overconsumption or just a specific case of filthy rich people who have lost all sense of reality? Greenfield and I chatted about the film in a large empty ballroom of a luxury hotel about how the film came together around her and why she cared what the Siegels ultimately thought.

I first heard about this film on NPR.

This game is awesome.

andasfortakingitinstride:

Proving that people aren’t just looking for handouts, it’s hard to get back on your feet.

http://playspent.org/

This reminds me of an episode of The Cosby Show where Theo wanted to move out so Bill busted out the Monopoly money for a brief lesson in real world finances.

Debtors’ Prison Is Back — and Just as Cruel as Ever

According to a report inThe Wall Street Journal,debt collectors in Missouri, Illinois, Alabama and other states are using a legal loophole to justify jailing poor citizens who legitimately cannot pay their debts.

Here’s how clever payday lenders work the system in Missouri — where, it should be noted, jailing someone for unpaid debts is illegal under the state constitution.

First, explains St. Louis Post-Dispatch, the creditor gets a judgment in civil court that a debtor hasn’t paid a sum that he owes. Then, the debtor is summoned to court for an “examination”: a review of their financial assets.

If the debtor fails to show up for the examination — as often happens in such cases — the creditor can ask for a “body attachment” — essentially, a warrant for the debtor’s arrest. At that point, the police can haul the debtor in and jail them until there’s a court hearing, or until they pay the bond. No coincidence, the bond is usually set at the amount of the original debt.

____________________

The U.S. government is TRILLIONS of dollars in debt. I don’t see them getting their assess hauled off to jail.

#B_effing_S

theweekmagazine:

BANKRUPT USA
A numerical look at the average family’s financial struggles:

$126,400 
Net worth of the median American family in 2007

$77,300 
Net worth of the median family in 2010

40 
Percentage drop in wealth over that three-year period

15.2 
Median percentage of debt that was education-related in 2007

19.2 
Median percentage of education-related debt in 2010

7 
Percentage of Americans late on their debt payments in 2007

11 
Percentage late on payments in 2010

The dwindling wealth of the American family: By the numbers

(via npr)

crookedindifference:

FACTS: State of the Union

Before you watch the speeches, get the facts:

• Since the last SOTU, the economy has created 1.9 million private sector jobs. [Source]

• The top 1 percent take home 24 percent of the nation’s income, up from about 9 percent in 1976. [Source]

• Private sector job creation under Obama in 2011 was larger than seven out of the eight years Bush was president. [Source]

• The top 1 percent of Americans own 40 percent of our country’s wealth while the bottom 80 percent owns only 7 percent. [Source]

• Thanks to the Affordable Care Act, 2.5 million young adults gained health insurance. [Source]

• For every one job opening, there are four people looking for work. [Source]

• Last year, China spent 9 percent of its GDP on infrastructure. The U.S. spent 2.5 percent. [Source]

• 2.65 million seniors saved an average of $569 on prescriptions last year thanks to the Affordable Care Act. [Source]

• “In 2011, the United States killed Al Qaeda’s most effective propagandist, Anwar al-Awlaki; its operating chief, Atiyah Abd al-Rahman; and of course its founder, chief executive and spiritual leader, Osama bin Laden.” [Source]

• Union membership is at a 70-year low. [Source]

• Unemployment benefits have lifted 3.2 million people out of poverty. [Source]

• The United States used to have the world’s largest percentage of college graduates. We’re now #14. [Source]

• One quarter of all contributions to federal campaigns come from 0.01 percent of Americans. [Source]

47.8 percent of households that receive food stamps are working, because having a job is not enough to keep them out of poverty. [Source]

• In the last three years, 30 major corporations spent more on lobbying than they paid in taxes. [Source]

• 50 percent of U.S. workers make less than $26,364 per year. [Source]

• More than one in 70 homes faced foreclosure last year. [Source]

• Since 1985, the federal tax rate for the 400 wealthiest Americans dropped from 29 percent to 18 percent. [Source]

(via colourblind-vision-backup)

but before that happens, I’d like to kick the guy in the middle right in the ding-ding.

#ReallyHard

(via andasfortakingitinstride)

Obama and the GOP agree: Eliminate tax breaks for millionaires

If the two parties could come together around this change to the tax system, it would be a very, very big deal. Coburn’s office estimates that millionaires received $30 billion in tax breaks in 2009. Extend that over 10 years, adjust for economic growth and reductions in interest payments, and cutting out those subsidies would save the Treasury well over $500 billion and while making the tax code considerably more progressive.

__________________

I bolded the shit outta that text for emphasis.

The European Super Highway of Debt

These info-graphics shows how much banks borrowed to Portugal, Ireland, Italy, Greece & Spain (PIIGS). Europe is in a deep crisis, and this shows how much must be repaid.

____________________

It’s just mind-boggling. See the human figure at the bottom of the image?

Next to it is a pallet of 100 Million Euros.

Each tractor trailer is loaded with these pallets.

One tractor trailer represents €2,000,000,000 (that’s Billions).

mohandasgandhi:

It’s getting rather exhausting listening to people try to use the Tea Party rallies as some sort of check on the Occupy Wall Street movement in order to demonize it. While the Tea Partiers do have some legitimate political concerns, for the most part, they were and still are pawns. Why was there constant mainstream media coverage of Tea Party demonstrations? Why were there so few incidents of clashes with police and zero arrests? Why were Tea Party protesters who carried guns, many semiautomatic riffles, untouched by law enforcement? Why were they taken so seriously? Why were they hailed as “patriots?” Why weren’t any Tea Party rallies shut down?

Because the Tea Party in no way threatened the establishment. They demanded completely privatized healthcare, eating right out of the hands of Big Pharma and healthcare insurance companies. They protested against corporate and environmental regulations, allowing big business to essentially steamroll over whatever they please, even if that meant destroying our Earth, with zero accountability. They demanded funding for services and programs that generally help the lower classes like Medicaid, employment insurance, Planned Parenthood, etc. be cut in order to “slash the deficit.” After billionaires like the Koch brothers poured money into their groups, they demanded it was unfair to tax big corporations and the rich because “they’re the job makers.” Maybe we should look at some of their corporate and mega-rich sponsors:

  • Massey Energy
  • Microsoft
  • FreedomWorks
  • Americans for Prosperity
  • Armstrong Foundation
  • Carthage Foundation
  • Castle Rock Foundation
  • Claude R. Lambe Charitable Foundation
  • Earhart Foundation
  • Exxon Mobil
  • F.M. Kirby Foundation
  • Gordon and Mary Cain Foundation
  • Jaquelin Hume Foundation
  • John M. Olin Foundation
  • Leadership Institute
  • Philip M. McKenna Foundation
  • Richard and Helen DeVos Foundation
  • Rodney Fund
  • Samuel Roberts Noble Foundation
  • Lynde and Harry Bradley Foundation
  • Sarah Scaife Foundation 
  • British Petroleum
  • Bayer
  • NewsCorp
  • Heritage Foundation
  • Manhattan Institute
  • George C. Marshall Institute
  • Reason Foundation
  • American Enterprise Institute
  • Scaife Family Foundation
  • Shelby Cullom Davis Foundation
  • MetLife
  • Americans for Tax Reform
  • Family Research Council
  • John Birch Society
  • Ensuring Liberty Corp.
  • AT&T
  • Verizon
  • Polaris Consulting
  • Southern Co.
  • Comcast
  • American Airlines
  • Time Warner
  • Kirby Corp.
  • Ernst & Young
  • Publix
  • Caterpillar
  • Fed. of Amer. Hospitals
  • Tyco International

There’s a major incentive to allow the AstroTurf Tea Partiers, which make up only 18% of the population, to stomp their little feet. There is, however, virtually zero incentive to allow the Occupy movement, which denounces such overreaching corporate power, to even open their mouths and let out a single utterance. So, how do you suppress an all-inclusive movement with legitimate and striking concerns regarding the unequal balance of power? You beat them in the streets and try to do everything possible to cut off their resources because your corporate overlords, guys like Bloomberg who made billions by doing business with Wall Street, said, “jump.” Because you’re part of the 40% the top 1% owns. They buy you with their massive amounts of wealth to do their bidding in order to increase that wealth.

I will give these critics of the Occupy movement one thing though: it’s difficult to figure out how the system really works because of how horribly broken it is. However, it doesn’t take a great mind to understand the very fact that it’s broken in the first place or pinpoint who broke it.

mohandasgandhi:

pantslessprogressive:

soupsoup:

Members of Congress can legally trade stock based on non-public information from Capitol Hill.

As Lizzie O’Leary points out, much of this report owes its information from the work done by Brody Mullins at the Wall Street Journal:

It is astounding to know this is legal.

And what incentive do they have to make this behavior illegal? Amazing. We need to get money out of politics - completely.

mohandasgandhi:

proletarianengineer:

Police beat peaceful student demonstrators at Occupy Cal, 11.9.2011

I audibly gasped and covered my mouth watching this. I just…. I’m speechless. Reblog.

thedailywhat:

This Is All Kinds Of Wrong of the Day: When Bank of America told a Texas man that his home was being foreclosed upon, he thought that was a bit weird. You see, Brad Gana’s home was destroyed by Hurricane Ike three years ago.

Gana had been dutifully paying his mortgage since despite not having a physical home in the hopes of being able to rebuild. But Bank of America raised Gana’s rate after it incorrectly placed homeowner’s insurance — on a home that doesn’t exist — and didn’t bother letting him know.

BoA said it had mailed several notices, but Gana points out, again, that his non-existent home didn’t have a mailbox. Gana says he gave the bank an e-mail address and two phone numbers, none of which were used.

Making matters even more infuriating, the foreclosure notice came two days before his property was due to go on the auction block. “Bank of America is ruthless in their incompetency,” Gana told Local 2.

A BoA rep released a statement saying they “have contacted Mr. Gana” and “will work with him directly to address his concerns.”

[kprc / huffpo.]

The Bank of DIAF is more like it.

Here’s my own BoA horror story:

My wife and I were on our honeymoon and stayed at a B&B chosen at random in St. Augustine, FL on our way to Savannah, GA.

We liked it so much there that we planned on stopping there again on our way home from Savannah.

However, once in Savannah, we determined that it would be best to just drive straight home to save some money so we canceled our reservations at the B&B in St. Augustine. We gave them at least 48 hours notice.

So a couple days after we get home, I check our bank account online and see that about 15-20 automatic transactions in the red and a negative balance of over $300!

Apparently, the B&B charged us one night’s stay because we didn’t give them a week’s notice of our cancellation. This stipulation was nowhere to be found on any of the documents we had signed. And the clerk never mentioned this when we called to cancel. We made copies of our receipts and sent them to BoA. They refunded our money back but then, for some reason, they took our money and gave it back to the B&B which resulted in even more negative transactions taking place.

It literally took several months just to get back in the black from all the damn overdraft/insufficient fund fees.

I have had a severe disdain for BoA ever since and honestly wish they fail their assess off. And if I ever win the lottery, I’m buying that B&B and bulldozing the shit out of it with a bulldozer made out of dynamite.

That was the crappiest way to start our marriage. Yes, after 5 years, I’m still bitter about it.

(via andasfortakingitinstride)