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American Casino

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American Casino (2009)

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Reviews Counted:30

Fresh:21

Rotten:9

Average Rating:6.5/10

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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Reviews
Tomatometer Critic Review Category
tomato

Jonathan F. Richards

The Cockburns paint a picture of a financial world devoid of morality and scruples, a culture in which reckless disregard of reason and caution led to a towering house of cards that could only come crashing down.

Full Review Source: | comment Comment | Nov., 22 2009 03:12 PM

Film.com

tomato
3.5/4

Michael Sragow

It's a nightmare that starts like a normal daytime drive and ends in a vortex-like sinkhole.

Full Review Source: | comment Comment | Nov., 13 2009 10:25 AM

Baltimore Sun

tomato
3/4

Dan Kois

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: | comment Comment | Nov., 05 2009 07:28 PM

Washington Post

splat
2.5/4

Mark Feeney

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: | comment Comment | Nov., 05 2009 10:46 AM

Boston Globe

tomato
3/4

Peter Keough

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: | comment Comment | Oct., 29 2009 04:36 AM

Boston Phoenix

tomato
6/10

Sarah Boslaugh

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: | comment Comment | Oct., 24 2009 06:28 AM

Playback:stl

tomato
B

Gary Thompson

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: | comment Comment | Oct., 02 2009 03:15 AM

Philadelphia Daily News

tomato
3/4

Steven Rea

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: | comment Comment | Oct., 01 2009 03:40 PM

Philadelphia Inquirer

splat
2.5/5

Gary Goldstein

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: | comment Comment | Sep., 18 2009 02:43 PM

Los Angeles Times

tomato

Andrew O'Hehir

This film stands as an intimate, terrifying document that renders an incomprehensible slice of recent history in human terms.

Full Review Source: | comment Comment | Sep., 18 2009 03:15 AM

Salon.com

tomato
9/10

Ron Wilkinson

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: | comment Comment | Sep., 10 2009 09:25 AM

Monsters and Critics

tomato

Dana Stevens

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: | comment Comment | Sep., 10 2009 04:55 AM

Slate

tomato

David Edelstein

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: | comment 1 Comment | Sep., 07 2009 02:31 PM

New York Magazine

tomato
B-

Cole Smithey

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: | comment Comment | Sep., 05 2009 09:11 PM

ColeSmithey.com

tomato
3.5/5

Matthew Nestel

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: | comment Comment | Sep., 04 2009 03:16 PM

Boxoffice Magazine

splat
2/5

Elizabeth Weitzman

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

Full Review Source: | comment Comment | Sep., 04 2009 01:39 PM

New York Daily News

tomato
3/5

Geoff Berkshire

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

Full Review Source: | comment Comment | Sep., 03 2009 07:41 PM

Metromix.com

tomato
3/5

Stephen Holden

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

Full Review Source: | comment 1 Comment | Sep., 03 2009 02:54 PM

New York Times

splat
C+

Scott Tobias

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: | comment Comment | Sep., 03 2009 02:08 PM

AV Club

tomato
3/5

Frederic and Mary Ann Brussat

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: | comment Comment | Sep., 03 2009 01:25 PM

Spirituality and Practice

 
 
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