"The wealthy, at some point, decided they didn't have enough wealth," the statement quoted Moore as saying.
"They wanted more -- a lot more. So they systematically set about to fleece the American people out of their hard-earned money. Now, why would they do this? That is what I seek to discover in this movie."
Wonderful news. I'm always glad for the perspective he brings to the important issues of the day.
Wasn't the Global financial meltdown caused by the American Mortgage meltdown caused by Clinton's administration regulating the banks so they would give mortgages to those who couldn't really afford to own a house.
But then again Michael Moore has never lied before :roll:
Joined: 29 May 2009
Location: Scarborough - Rouge River (Toronto)
Posted: Thu Jun 04, 2009 11:03 am Post subject:
people with low income getting million dollar mortgage is a valid reason.
I also I think it also has to do with the whole fundamental "money" culture of the states as well. People are so reluctant about savings or thinking about the future. Too many people have been living paycheck to paycheck. So, when they get a mortgage they don't know how to save or make payments on time.
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The cause of the global financial meltdown, solved!