Maxed Out: The Truth About Debt in America
by Brandon Eley ~ November 10th, 2008. Filed under: Commentary.
I recently watched Maxed Out, a documentary about the dark secrets of America’s banking industry. If you’re reading this blog, then you most likely already know that debt is bad… but you probably have no idea how bad it is.
Maxed Out focuses on banks and financial institutions that lend money to people who are less than credit worthy, knowing they can’t or won’t pay their bills. These credit card companies and banks make the majority of their profits off the late charges, over the limit fees and high interest they charge to people who are behind on their payments.
The documentary uncovers the shady (and possibly illegal) practices of some of the nation’s largest banks, as they prey on the young and the poor. From giving credit cards to college kids with no income, to ruthless collection agencies that use scare tactics to get people to pay on their past due debts before putting food on the table, Maxed Out is a moving film that will have you seriously questioning our casual use of debt in this country.
Maxed Out is a moving and informative documentary that will make you think about the banking industry (and government) is a completely different way.