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American Casino

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American Casino (2009)

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Reviews Counted:28

Fresh:19

Rotten:9

Average Rating:6.4/10

Consensus: American Casino presents the causes and effects of the American banking crisis with just enough clarity and rage to overcome its flaws.

Rated: Not Rated

Genre: Education/General Interest

Theatrical Release:Sep 4, 2009 Limited

Synopsis: “I don’t think most people really understood that they were in a casino” says award-winning financial reporter Mark Pittman. “When you’re in the Street’s casino, you’ve got to play by their... “I don’t think most people really understood that they were in a casino” says award-winning financial reporter Mark Pittman. “When you’re in the Street’s casino, you’ve got to play by their rules.” This film finally explains how and why over $8 trillion of our money vanished into the American Casino.

For chips, the casino used real people, like the ones we meet in Baltimore. These are not the heedless spendthrifts of Wall Street legend, but a high school teacher, a therapist, a minister of the church. They were sold on the American Dream as a safe investment. Too late, they discovered the truth. Cruelly, as African–Americans, they and other minorities were the prime targets for the subprime loans that powered the casino. According to the Federal Reserve, African-Americans were four times more likely than whites to be sold subprime loans.

We meet the players. A banker explains that the complex securities he designed were “fourth dimensional” and sold to “idiots.” A senior Wall Street ratings agency executive describes being ordered to “guess” the worth of billion dollar securities. A mortgage loan salesman explains how borrowers’ incomes were inflated to justify a loan. A billionaire describes how he made a massive bet that people would lose their homes and has won $500 million, so far.

Finally, as the global financial system crumbles and outraged but impotent lawmakers fume at Wall Street titans, we see the casino’s endgame: Riverside, California a foreclosure wasteland given over to colonies of rats and methamphetamine labs, where disease-bearing mosquitoes breed in their millions on the stagnant swimming pools of yesterday’s dreams.

Filmed over twelve months in 2008, American Casino takes you inside a game that our grandchildren never wanted to play.--© Official Site [More]

Director: Leslie Cockburn, Andrew Cockburn

Director: Leslie Cockburn, Andrew Cockburn
Studio: Argot Pictures

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Reviews for American Casino

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1 - 20 (sorted by date)
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As Leslie Cockburn's camera roams the foreclosed rowhouses of Baltimore, their planked-up doors reminiscent of shots from The Wire, I thought: Baltimore needs some good PR.

Full Review Source: Washington Post | comment Comment
11/05/09
Dan Kois
Dan Kois
Washington Post
Top Critic Icon Top Critic

Much of the final two-thirds of the documentary can have a TV newsmagazine feel: solidly presented, but not shaped to a larger end. As self-righteousness sets in, however justified, so does a certain artistic slackness.

Full Review Source: Boston Globe | comment Comment
11/05/09
Mark Feeney
Mark Feeney
Boston Globe
Top Critic Icon Top Critic

Putting a face on the incomprehensible figures, the film takes a look at some of the victims, middle-class professionals who bought into the dream of home ownership and lost everything.

Full Review Source: Boston Phoenix | comment Comment
10/29/09
Peter Keough
Peter Keough
Boston Phoenix

If there's an overarching theme it's that people respond to incentives and so regulation of the financial market is necessary to see that the incentives offered are not perverse.

Full Review Source: Playback:stl | comment Comment
10/24/09
Sarah Boslaugh
Sarah Boslaugh
Playback:stl

It may be a little too Jack Webb for the masses, but there is value to its sober, just-the-facts approach.

Full Review Source: Philadelphia Daily News | comment Comment
10/02/09
Gary Thompson
Gary Thompson
Philadelphia Daily News

The documentary details in no-nonsense, talking-head style how commercial and investment banks moved high-risk mortgages out into the economy, dumping debt and reaping profits in the process.

Full Review Source: Philadelphia Inquirer | comment Comment
10/01/09
Steven Rea
Steven Rea
Philadelphia Inquirer
Top Critic Icon Top Critic

A lopsided, visually uninspired film that works best when it eschews the complex numbers-crunching of its financial industry pundits and whistle-blowers to profile the everyday victims of the crisis.

Full Review Source: Los Angeles Times | comment Comment
09/18/09
Gary Goldstein
Gary Goldstein
Los Angeles Times
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This film stands as an intimate, terrifying document that renders an incomprehensible slice of recent history in human terms.

Full Review Source: Salon.com | comment Comment
09/18/09
Andrew O'Hehir
Andrew O'Hehir
Salon.com
Top Critic Icon Top Critic

The best look to date at the rotten US housing mortgage system that developed over the last ten years. Clear enough to make you cry.

Full Review Source: Monsters and Critics | comment Comment
09/10/09
Ron Wilkinson
Ron Wilkinson
Monsters and Critics

As the Cockburns interview exterminators and local police about the rats' nests and meth labs that tend to proliferate in foreclosed homes, the corruption metaphor is like something out of a Nathanael West novel.

Full Review Source: Slate | comment Comment
09/10/09
Dana Stevens
Dana Stevens
Slate

You'll never hear an economist explain derivatives again without thinking of the woman who walks away from the camera, weeping, as her mortgage broker refuses her check, or children's dolls splayed out on the floors of empty homes.

Full Review Source: New York Magazine | comment 1 Comment
09/07/09
David Edelstein
David Edelstein
New York Magazine
Top Critic Icon Top Critic

Essential viewing for understanding how banks systematically targeted low income groups in over-leveraged mortgage lending practices that led to a catastrophic economic collapse, "American Casino" is still a far from perfect documentary.

Full Review Source: ColeSmithey.com | comment Comment
09/05/09
Cole Smithey
Cole Smithey
ColeSmithey.com

The piece finds a balance between the tearjerkers caught in the crossfire and the reckless bidders who don't seem to feel troubled for the life of excess at the expense of others.

Full Review Source: Boxoffice Magazine | comment Comment
09/04/09
Matthew Nestel
Matthew Nestel
Boxoffice Magazine

The movie's lack of Michael Moore-style dynamism has a dulling effect.

Full Review Source: New York Daily News | comment Comment
09/04/09
Elizabeth Weitzman
Elizabeth Weitzman
New York Daily News
Top Critic Icon Top Critic

Has the feel of a quickie made-for-TV doc. It's bare bones ... but timely.

Full Review Source: Metromix.com | comment Comment
09/03/09
Geoff Berkshire
Geoff Berkshire
Metromix.com

The lesson of this story: if enough money is involved, greed trumps morality.

Full Review Source: New York Times | comment 1 Comment
09/03/09
Stephen Holden
Stephen Holden
New York Times
Top Critic Icon Top Critic

The film doesn’t come to life until too late in the game, when it takes the original tack of exploring the housing crisis through abandoned backyard swimming pools...

Full Review Source: AV Club | comment Comment
09/03/09
Scott Tobias
Scott Tobias
AV Club

A riveting and multidimensional examination of the subprime mortgage meltdown and its devastating impact on homeowners from poor African-Americans to wealthy Californians with swimming pools.

Full Review Source: Spirituality and Practice | comment Comment
09/03/09
Frederic and Mary Ann Brussat
Frederic and Mary Ann Brussat
Spirituality and Practice

A damning documentary which makes a convincing case that neither the federal government nor the corporate elite could care less about the plight of the working class.

Full Review Source: NewsBlaze | comment Comment
09/03/09
Kam Williams
Kam Williams
NewsBlaze

Thanks for not talking to us like idiots, but the lack of accessibility ends up turning this into a collegiate lecture.

Full Review Source: Time Out New York | comment Comment
09/02/09
David Fear
David Fear
Time Out New York
 
 
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