Wednesday, September 23, 2009

Clips From Michael Moore's 'Capitalism: A Love Story'










1 comment:

Anonymous said...

Michael Moore's "Capitalism" Opens in Los Angeles: An Inconvenient Review

With his media mogul producer and capitalist-friendly marketing Moore is receiving "more" reviews than he bargained for.

Michael Moore's new movie "Capitalism: A Love Story" is being criticized for using capitalism and the media to promote "anti-capitalism" ideals. Moore's movie is being co-financed and distributed domestically by Overture Films, which is part of John Malone's Liberty Media. Liberty, reports Joe Flint of the Los Angeles Times,  also owns satellite broadcaster DirecTV, and recently took a stake in Sirius XM.

If the idea that Michael Moore has teamed up with a media magnate weren't ironic enough, Malone's company Sirius XM was the subject of the financial documentary "Stock Shock" which highlights the company as one of the most manipulated stocks in the market. Investors in Sirius XM lost over 95% of the value of their shares in the company when it nearly went bankrupt earlier this year due to alleged illegal naked short selling, and some contend, internal corporate greed. John Malone was touted as the satellite company's white knight for saving it from ruin at the 11th hour with a loan of several hundred million dollars, but not everyone agrees.

"Stock Shock" interviewed disgruntled investors like Michael Hartleib, founder of SaveSirius.org, who insist that Malone virtually swindled the company away from shareholders when he was awarded a 40% stake in the billion dollar company for the last minute loan. Hartleib asks, "How was this management team able to steal forty percent of our company without we, the true owners of this company, having a vote or a seat at the table? How was Mr. Malone given forty percent of our company for free?" Many journalists are asking, "is this the producer Michael Moore hand picked?" Newsday's John Anderson comments that Moore provides "enough convenient logic to bury the Federal Reserve."

"Stock Shock"  is a new release on DVD and is available at Amazon.com or stockshockmovie.com.