House of Cards (2009)

House of Cards is a documentary on the housing and economic crisis that explains in great detail exactly what caused the US economic crash of 2008. CNBC investigates the defining story of our time with inside accounts from key players, tracing the origins of the calamity from Main Street to Wall Street to Washington. The financial industry has so many layers and so many players that it makes it difficult for the average person / homeowner to truly understand how we got into this mess. This lays it out step by step. It gives a really good, in-depth look into one of the primary reasons for the financial meltdown. It explains the complicated issues and entwined responsibilities in a clear way. House of Cards straightforwardly examines the mistakes and/or cold-hearted decisions made all the way down the line, and finds villains in even the smaller players, who went along with what they knew was wrong out of greed and the desire not to get left behind. The justifications for immoral actions are pretty illuminating, as are the hard lessons that regular people learned when they trusted an industry that was, at its very core, populated by people who were not to be trusted. You have to wonder why something wasn’t done to stop the unethical practices of the banking industry that was driven by greed. None of the bankers or anyone involved in making a quick buck saw that they did anything wrong. And, that is one of the basic problems, they were rewarded with lots of money, so what could be wrong? A man who works for the banks is driving in a car with the license plates ‘EVICTEM’. In Europe if a man drove around in a car with that license plate during times like this he would have found it on fire. I remember the so-called analyst on MSNBC everyday talking about everything is good and a little volatility is normal…where are those same experts now! Greenspan and the way he views things was a major part of this countries downfall. What a coward to the greedy corporate powers that own our government. Not a single one of these people could actually put any sort of blame or remorse on their behavior and decisions. The Wall Street banker who feels no remorse. The “genius” mathematician who can’t admit that his formulas were crap, and the way he avoided eye contact and couldn’t muster even the slightest bit of feeling other than the intense internal struggle he felt inside, finally knowing that he’s not nearly as smart as he thinks he is. Don’t worry though, he’s now obscenely wealthy and pursuing his passion of photography. The only person I recall that had any character was the black woman, who even says that she’ll pay for her poor decisions, but asks, “When are the people at the top going to pay?” When will they be held responsible for what they did? They won’t. Bottom line – people were spending beyond their means. Why would I try to get a loan that is totally out of my income range and why would it be accepted? You should watch this. Terrific documentary on the housing and economic crisis. I very much enjoyed this movie and recommend it to anyone looking for a great way to understand the process that preceded the financial crisis. It’s an excellent, excellent documentary that explains in great detail exactly what caused the US economic crash of 2008. I highly recommend it because this is easy to follow. One of the better documentaries I’ve seen on the financial crisis. Watch “House of Cards” first, then followed by “The Flaw”. Documentary CNBC Originals 2009 TV-PG 1hr 30m.


The Flaw

Inside Job

Wall Street


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