American Casino

In We All Lost, the gripping narrative unfolds as award-winning financial reporter Mark Pittman shares a striking observation: “I don’t think most people really understood that they were in a casino.” This film meticulously reveals the elaborate scheme that led to the disappearance of over $8 trillion of our money, likening it to a high-stakes game in the American casino.

The narrative introduces us to real individuals from Baltimore, showcasing their personal stories rather than the stereotypical spendthrifts often associated with Wall Street. Among them are a dedicated high school teacher, a compassionate therapist, and a committed church minister. All were seduced by the allure of the American Dream, only to later uncover a harsh reality. The film sheds a poignant light on how African Americans and other minorities became prime targets for subprime loans, a devastating decision that set the stage for countless financial tragedies. According to the Federal Reserve, these individuals were four times more likely to be sold subprime loans compared to their white counterparts.

As we delve deeper, we meet various players in this financial catastrophe. A banker reveals how he crafted complex securities, calling them “fourth dimensional”, which were sold to unsuspecting buyers. Meanwhile, a senior executive from a Wall Street ratings agency candidly shares how he was pressured to speculate on the value of billion-dollar securities. A mortgage loan salesman exposes the uncomfortable truth of inflating borrowers’ incomes to secure loans. Lastly, a billionaire recounts a chilling gamble where he bet on the misfortune of others, ending up with a staggering $500 million profit from the ordeal.

The film paints a stark picture of the collateral damage inflicted as the global financial system teeters on the brink of collapse. With lawmakers looking on in bewilderment, struggling to rein in the Wall Street moguls, we witness the casino’s grim conclusion. The camera takes us to Riverside, California, a desolate landscape marred by foreclosures, where abandoned homes devolve into havens for rats and methamphetamine labs, fostering an environment where disease-riddled mosquitoes thrive in the stagnant waters of broken dreams.

Filmed meticulously over a twelve-month period in 2008, American Casino immerses viewers into a perilous game that our grandchildren will likely wish to avoid at all costs.

Last Updated: October 25, 2024 at 10:26