Maxed Out, the movie: Release Information

[David A. Szwak]

[David A. Szwak]

[David A. Szwak]

http://www.play.com/Books/Books/4-/1133 ... oduct.html

[David A. Szwak]

http://www.brownstationers.com/BookItem ... 0007242887

[David A. Szwak]

http://www.landmarktheatres.com/Films/f ... p?id=53097

[David A. Szwak]

http://www.landmarktheatres.com/Films/f ... p?id=53097

[David A. Szwak]

I thought I'd let folks know about the screenings being co-sponsored by
Americans for Fairness in Lending (AFFIL), which NCLC has been heavily involved
with. Many of you heard about AFFIL, for those who didn't, check out
affil.org.

The list of screenings co-sponsored by AFFIL and other groups/individuals is
still in constant flux... but here's what set. People can email Sarah Byrnes,
AFFIL Campaign Manager, sbyrnes@nclc.org for information.

Feb 21 - San Francisco
Feb 22 - Minneapolis
Feb 28 - Chicago
March 6 - AFFIL Launch! Forum and Screening in New York city
March 7 - Congressional Screening
March 8, 9, or 10 - Seattle Screening
March 9 - Theatrical Release of the film in Dallas, San Fran, LA, NYC, DC,
Seattle
March 14 - Harvard Law Screening
March 16 and later - film hits more cities in theaters, pending its success.
Check affil.org after Feb 16 for details.

[David A. Szwak]

U.S. film shows despair under mountain of debt By Pedro Nicolaci da Costa
Tue Feb 20, 6:28 PM ET

http://news.yahoo.com/s/nm/20070220/fil ... axedout_dc

NEW YORK (Reuters) - Sky-high interest rates on credit cards can make a mountain of debt seem insurmountable. Eventually for some, it is.

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An unfortunate minority depicted in the new movie "Maxed Out" finds the burden too great to bare: suicide seems like the only way out.

America's predilection for debt is well documented. U.S. consumers owe over $2.4 trillion, nearly one fifth the size of the total economy. As a country, the United States borrows over $2 billion a day to cover an insatiable demand.

Larger-than-life as they seem, these figures mask individual tales of tragedy and despair, according to "Maxed Out," which gives viewers a peek at moments when indebtedness becomes deadly.

Director James Scurlock uses those personal tales as a platform for a critique of the financial industry, arguing that far from discouraging irresponsible borrowing, the big banks rely on it for the core of their profits.

"Banks and credit card companies are setting their customers up to fail," said Scurlock. "When we inevitably fall behind, they can charge late fees, over-limit fees and the stratospheric interest rates that drive their profits."

Indeed, bank profits broke new records in 2006, despite slowing economic growth. Fee income was often cited as a key source of earnings.

The banks themselves argue they are only offering credit to those who need and want it, and that the parties involved should be responsible for paying back what they owe. Furthermore, they say they are in full compliance with existing government regulations on lending.

"There are programs out there for people who are having problems," said Tracey Mills, a spokesperson for the American Bankers' Association. "If movies like 'Maxed Out' encourage people to reach out to those programs, then we hope that happens. It creates better customers for banks. We want long-term customers."

Scurlock suggests that rather than acting as a regulatory break, politicians actively encourage the predatory behavior of lenders, coming up with ever more elaborate loopholes for the industry, which is a key campaign contributor.

Elizabeth Warren, a bankruptcy expert at Harvard Law School who is featured in the film, says that instead of reining in financial firms, the government has become an advocate for them.

"One would expect the government to come down on the side of the consumer," said Warren. "Instead, it regulates on the side of the banks."

CREDIT MARAUDERS

One factor favoring the industry, according to the movie, is a lack of privacy protection that allows debt collectors to amass detailed information about debtors and their families.

One employee of a collections firm featured in the film fancies himself a modern-day pirate: "You want to push them out on that plank as far as possible without making them jump," he says.

Their methods include calling family members and neighbors in the hopes that the embarrassment factor will shame debtors into payback.

Banks note that the credit boom has helped fuel economic growth. But skeptics say the gains are not sustainable, and are already coming back to haunt many American families.

"Households, in their quest for sources of financing, have now been moved from mortgage borrowing to credit cards," notes Gabriel Stein, economist at Lombard Research. "This is extremely bad news for the U.S. economy over the course of 2007 and suggests that households are at their last gasp to find some form of credit."

TRAGEDY OF ERRORS

Scurlock said he set out to take a comic look at America's spending excesses. But as he dug deeper, most of what he found was tragic.

"I thought this was going to be a light-hearted romp through the world of credit," he said. "But when I started interviewing people, I came to realize how emotional this topic is. We talked to bankruptcy attorneys and they said these clients will come in absolutely prepared to commit suicide."

Scurlock tells bizarre tales of lawyers whose safes contained the guns -- and even cyanide in one case -- of suicidal clients, for whom a visit to the lawyers' office had been a last hope.

Such stories abound in the film. One features two mothers who lost their children to suicide. Both victims had amassed massive credit card bills in college.

Such lending is readily available to students, with credit card companies setting up booths with giveaways to entice would-be borrowers -- even though most college kids have yet to hold down their first real job.

Yet, rather than discouraging such practices, regulators look the other way.

The message of Scurlock's film, which arrives in theaters on March 9, is clear: regulators' links to the industry are too tight for political appointees to keep financial services firms in check.

Or, in the Harvard law professor Warren's words: "The lobbying dollars are all on the side of industry. That's why they get to make the rules."

[David A. Szwak]

http://www.netflix.com/MovieDisplay?trk ... d=70058892

[David A. Szwak]

Maxed Out
Magnolia Pictures // R // $26.98 // June 5, 2007
http://www.dvdtalk.com/reviews/read.php?ID=28471

Review by Brian Orndorf | posted June 6, 2007 | E-mail the Author | Start a Discussion

C O N T E N T
V I D E O
A U D I O
E X T R A S
R E P L A Y

A D V I C E
Recommended



THE FILM

"Maxed Out" is going to make you furious. It's a viewing experience specifically designed to get the angry juices flowing, forcing anyone who sits down with it to confront their financial lifestyle and how they recognize monetary difficulty.

James Scurlock's toxic-shock documentary has the yearning to change the way people view the credit card culture of American society. That's an ambitious goal, but worth every moment the filmmaker can devote to the topic. Just addressing such a crucial subject is half of the battle for "Maxed Out." The rest of the film simply has to locate great arguments to help sell the idea of taking personal financial responsibility seriously.

Scurlock does come with a parade of stunning information and teary testimonials, and "Maxed Out" benefits from his homework and careful planning. The picture starts off lightly, using the Enron business model to explain how many of the rich are paying for their expensive living spaces. After that, the film tears off on a bumpy journey that drills to the core theme of the film: the credit card, and how it's killing America.

I wouldn't call witnessing how the credit card companies rake in their money exactly shocking, but it is alarming. "Maxed Out" paints a vivid picture of how these predatory corporations swoop in and "save" the poor and the needy, hiding insane interest rates and assorted rules and violations in the small print trusting (hoping) that the individual will eventually trip up. It's legal, but increasingly devious in intention, especially compared to the calmer credit seas of 30 years ago.

Scurlock wants the viewer to see the ravages of credit card debt on the faces of the average American. Unable to keep up with their bills, the interviewees are stuck in a whirlpool of debt; unable to achieve the slightest bit of hope. For many, the situation will take years to recover from. For others, suicide is the answer. If there's anything "Maxed Out" is especially crafty at, it would be painting a portrait of confusion and despair, and the picture milks this mood for every sympathetic moment it can find.

The documentary also examines college campus credit sign-up practices, the efforts of the government to keep America in debt and the vice-like grip lobbyists have on Washington, Suze Orman and her deceptions, increasingly whorish ways some younger people are considering to pay off their debts, and the plight of the pawn shop owner, who has seen the business change from one of desire to one of feverish need in the last few years.

The best venom is saved for the debt collectors. To be fair, these men and women of cubical power are justified in their purpose - you borrow money, you should pay back money - but how these smug idiots go about their business is enough to make you snap the DVD in half. Arrogant, deceptive, and celebratory with their practices of humiliation, these bottom feeders of the industry deserve an entire movie of their own.

THE DVD

Visual:

"Maxed Out" is presented in anamorphic widescreen (1.78:1 aspect ratio). An HD documentary, the DVD has trouble with fleshtones, which tend to register in the cherry and pink ranges. The image is stable with little in the way of defects.

Audio:

The 2.0 Dolby Digital sound mix for "Maxed Out" is given very little to do. Interviews are clearly recorded, leaving only the occasional soundtrack cue to burst into the soundscape. A modest effort, but an acceptable one.

Extras:

The supplements on the "Maxed Out" DVD further the theme of the film, either through deleted moments or a straight-up commercial. No true investigation of the documentary is found here, but this modest round-up of supplements should satisfy the curious viewer.

"The Wise Use of Credit" (running 11 minutes) is a B&W short from 1960. With only snippets used during the film, it's interesting to see this short, hosted by "Mr. Money," in its entirety. Granted, the lack of Mike, Tom Servo, and Crow in the corner of the screen is unsettling. However, the short reveals a forward-thinking attitude even 47 years ago when it came to the responsible usage of credit.

"What Is a Credit Report?" (7 minutes) is a dry deleted scene with consumer advocate attorney David Szwak explaining how reports work and how they can be exploited.

"Bankruptcy: A Life-Changing Experience" (5 minutes) is a second deleted scene, this time featuring lawyer Elizabeth Warren as she discusses the psychological devastation that follows the declaration of bankruptcy.

"Dave Ramsey on Personal Responsibility" (5 minutes) is a wild burst of info from the radio personality on how to shape up your money troubles. Some interesting info here, but from a guy who seems too slick and polished for his own good.

"Americans for Fairness in Lending" (5 minutes) is a commercial for the cause.

FINAL THOUGHTS:

When it comes time to expose the benefits of fiscal responsibility, "Maxed Out" isn't the strongest tool to show a potential credit care nightmare customer. The film is more comfortable telling sob stories than getting uncomfortably tough on borrowers, but I can understand the desire to pull back on the venom to make a distinctive point. "Maxed Out" is sharp documentary on a vicious topic, and if it fails to encapsulate an entire argument into 85 minutes, it lets enough trouble out of bag to make a vivid point about the crumbling of America's financial health.