Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lend

[IBMeddling]

Hey, the movie didn't end with the credits "under pressure" song. Booooo!

[dochokeana]

One of the problems, a lot of parents seem to never teach their kids about credit cards, debt etc... while the kids are too young to get them. Sure where are credit cards for minors but spending limit is low, parents/guardians need to co-sign etc.. If no one is where to teach the kids about things during that time and parents think that if you're not employed you won't get credit, no wonder my age group (18-twenties) is such a gold mine to all those credit sharks.

[mcjny007]

Its simple. debt is a prison. All you have to do is stop. Stop buying what you can't afford. You don't need much of the things you buy. Pay the cards you have off and get rid of them. replace them with an amex card. You must pay at the end of each month or they cut you off. Be smart.

[ElshamyWalid]

@mcjny007 Agree! thats exacly what i did and im living like a king.

[7csilva]

At 54:30, what was the bill called?

[gtarules1]

That random "Ice Ice baby" intro when the screen turned on scared me! lol

[IBMeddling]

@gtarules1, The song is "Under pressure" by Queen. Vanilla Ice used it for his song and was sued for it. "Under pressure" is actually a good song.

[gonads20]

I call BS all the military couple that had to file bankruptcy. If he was in Iraq and she was at home there is no reason why they shouldnt be able to pay their bills. You make good money when youre deployed plus the gov is giving him Basic Allowance for Housing. That couple is full of you know what.

[autobot69000]

woooo Louis CK!

[ginahowardgiannattas]

I wonder who that comedian is. He was spot-on!

[BlondieonBlack]

I've never had a credit card because the thought of owing people money makes me tremendously sick to my stomach. Once I had a car payment and I would pay double the amount a month, I was 3 months late when I lost my job & they took that car back without hesitation. Ever since I knew they don't care about you or what you have done or even how loyal you've been...when THEY want THEIR money they will take it some how.

[jebenn23]

Live minimally, dont borrow money

[NYyankeeboi]

@jebenn23 While thats ideal. When you have everyone around you using credit and taking out loans. The prices of the things you need and want rise significantly. It's the reason housing costs so much and cars and most recently ....education.. Its a real mess, because most of our economy now depends on the flow of credit...

[ElshamyWalid]

@NYyankeeboi Bro your 100% right ... thats soo true

[christo930]

One thing that should be done is to teach personal finance and personal economics in high school for at least 2 years. Make sure our kids understand compound interest and how by borrowing money for consumption today, you are reducing future consumption by a MUCH higher amount than the consumption you will enjoy today with a credit card. Teach our children long term planning and thinking. Had we done this before, the housing and credit bubble would NEVER have happened.

[NYyankeeboi]

@christo930 I agree, but something like educating the people so they're able to make wise decisions cuts into their profit margin. A program like one you suggest would actually fix the problem, and that is not the business the U.S. Government is in.

[christo930]

@NYyankeeboi If nothing else, we should at least aspire to do that.

[McDouche77]

I'll never understand why you idiot Americans keep electing the same pigs into power election after election that empower these banks to rape you.

[christo930]

@McDouche77 Because there is nobody else to vote for because 3rd parties can't get on the ballots and even if they can, they get zero coverage and nobody even knows who they are

[190819862011]

Sometimes I want bad credit so some credit collector can call me and I can beat them at their own game! I can't believe people let these collectors get to them. Skip that... I wish they would call me! I will have them on the phone for 5 hrs acting interested so that they can't call anyone else to harrass

[pixiesyay]

Really glad I saw this.

[sutragrub]

Notice how prominent Elliot Spitzer was in this. They nailed him with the Client 9 scandal. Rod Blagoavich also went up against Bank of America, just weeks before that phone call got to the press, in which he allegedly tries to sell Obama's seat. Who recorded that call? Who leaked it? He has still not been convicted of anything. Not cause he's slippery or corrupt, but because the only thing he did was threaten to launch a state of Illinois boycott of BoA just 3 weeks before the "scandal"

[Seasass]

5:17 - Elizabeth Warren <3 People of Massachusetts, please-please-please send this woman to the U.S. Senate!

[FortNikitaBullion]

Credit cards are a drug. Just say no.

[IC1101]

We all know its the Jews, but no one has the guts to say it.

[denelson83]

MBNA stands for "Must Be Naughty Assholes".

[Sorvea]

1:19:11 I started crying...

[trybal007]

@Sorvea It hurts for sure. Stand strong and learn common law, REAL law that is. :)

[skewlboypin]

the guy at 7:30, am I supposed to feel sorry for him cuz he bought worthless cr@p with credit cards? who forced him to do that?

[Sorvea]

@skewlboypin I think he was going to try an "As Seen on TV" buisness. They have alot of them in tourist area's

[wesrAHN]

these people are all literally retarded

[cjwjr95]

44:50 what a bitch

[1337DementedOne]

What people need to understand is that debt slavery runs at an international level. That's how we get resources very cheap from other countries. Of course, they find some B.S. way to triple the prices for the customers, but that's another story.

Just pay in cash. It's that simple. That goes for your car too. If you can't afford it, don't buy it.

[636roadrunner]

My personal finance teacher gave our class the courtesy of viewing this documentary. I really feel like my eyes have been opened to the facts of debt. I never quite realized that even by going to college I will be in debted. I am very thankful that I was shown this before the expenses began to pile up. I can begin planning.

[ElshamyWalid]

@636roadrunner i owned creadit cards for almost seven years until last year i decided to pay them all off and keep on one pre paid master card where i put my own money in and use what i have and not what the bank has

it works fine with ebay paypal and gas stations just like a credit card but its debit

you can search it up on google "pre paid credit card" and its easy to apply

since then and all the banks are non stop sending me crazy offers they want me back but huh over my dead body ;)

[christo930]

@ElshamyWalid Those things are a fortune, just open a free checking account and use your debit card with your money in the bank. The thing you have has fees for everything, from putting money on it, monthly fees and transaction fees and even atm fees if you want to withdraw cash.

[jmcmahan15]

Examples in this documentary are exactly why schools should implement courses specifically designed to teach kids the correct way to use money. Practical money management NEEDS to be taught to our kids. It also begins at home...

[violetvwatson]

Among Christians, giving is motivated by love, not law. “Let each one do just as he has resolved in his heart, not grudgingly or under compulsion, for God loves a cheerful giver.” (2 Corinthians 9:7) .

True Christians do not have to be coerced or bribed into giving. Religious groups that resort to the passing of collection plates reveal that they have not given their people spiritual food. The same could be said of those who resort to the outdated practice of tithing.—Matthew 10:8.

[violetvwatson]

good video very sad when people get to the point of suicide because of debt. I suppose some have put trust in something that was wasn't guaranteed. money can sure give us a false sense of security. its almost as if we are measured by how much we have which is far from the truth. if your rich or your poor in the end its who you are as a person that counts

[hotcrossbones]

Who was the woman they pulled out of the river?

[rflxtdw4]

@hotcrossbones the women her commited suicide by driving into the river

[maydayfire]

debt kill more and destroy more than drugs, yet in school they warn you of drugs but not debt.

[SocialSciMedleyTV]

@maydayfire So true, I don't think people realize the implications of extreme debt until they were in it.

[hamsample]

this is why usury is forbidden in Islam and Christianity.

[jmm1233]

@hamsample yet christian organisations like the vatican are the largest lenders 2nd only to banks and corporations which undoubtly are run by the religious majority

[rivethead1982]

Good documentary. I always thought this movie was a prelude to Capitalism: A Love Story. When I saw Capitalism, the shock value was already gone. A lot of people NEED to see both films.

[SocialSciMedleyTV]

@rivethead1982 Thanks for the recommendation...seems familiar...

[dogfight156]

what's with all these documentaries with their retro-50's flashbacks? is it a requirement?

[Willennium85]

jazak allah kolo khir brother

[hiphopsocnroc]

this shit need to go viral...WTF

[TheCreedFollower]

Mr.$: Here's his record at the Credit Bureau.

Judy:Wow, it goes clear back to before i was born.

Me: It's the size of a notecard. Either that is a very empty report, or thats some mighty fine print.

[ShinjukuHH]

We need another Abe Lincoln who frees the new slaves.

... debt slaves.

[anon94707]

Ramsey/Mr. Money in 2012

[mulattoraver]

Great documentary. They need to warn kids about this when they are in high school.

Is it just my imagination or were the black people's stories heavily truncated and edited?

[oooshitman9]

I was a collector....Sucked. I felt horrible.

[aladdin1946]

Mr. Money rocks

[conman2317]

People who try to argue for the use of credit cards need to watch this

[ether150]

the system is corrupt....people need to wake up."I was fast asleep under the spell of reserve notes and religion….but now I’m wide awoke."

[MalchikBlue]

That Mr. Money knows his shit.

[alexkh77]

It is a good film to see in order to understand about life with credit card. I learned a lot from the film

[jmolly3080]

0:54:30