Maxed out…

January 21, 2008

images-12.jpegIn light of the holiday and the fact that markets are closed, we take a break from our usual trawl of the filings to talk about a movie I saw last night called Maxed Out, which you can watch for free here. Given its limited distribution, I had missed it in the theaters last year, but had heard about it and last night was time to play catch up. The movie starts out with this perky real estate agent in Las Vegas talking about all of the planned communities in Vegas named after places in Italy and how each house is bigger than the next. Given that Nevada has the highest foreclosure rates in the country, it would be interesting to see whether that agent — who boasted of having the bank finance the entire cost of her new fabulous house — is still quite so perky.

There’s also this very moving scene where two moms from Oklahoma talk about how their college-aged children committed suicide because they were in over their heads on credit cards and how they tried (but failed) to get their state to pass some laws restricting the marketing of cards to college students. Luckily, the guy in Washington State who runs Yuppie Pawn provides some comic relief in an otherwise dark documentary.

So with the markets closed today, I’d recommend spending some time with this movie, which is only 86 minutes long. It will help put into better perspective some of the headlines we read every day.

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