OCCUPY - THE MOVIE
TRANSMISSION SCRIPT
JOB ID: 57315
CLOCK INFO: |
DURATION: 01:25:45 |
(4% speed up to 25fps) |
|
NATIVE DURATION : 01:29:20 |
(at 23.98 fps) |
|
|
|
Cover Page
Transcripts provided by
Tel: 0800 0854418
+44 (0)1580 720923
Time-codes & Captions |
Dialogue |
10:00:02:21 CAPTION On September 17 2011 in New York City, a group of activists ignited a global protest
movement. 10:00:08:14 CAPTION This film documents who they are and what they protest. |
|
10:00:14:00 10:00:26:19 CAPTION Priscilla Grim Occupy Wall Street Web Outreach |
Interviewer If I was in town from an eight month excursion, I
had no media access at all and I asked you, what is Occupy? How would you respond? |
10:00:32:03 |
Priscilla Grim Occupy Wall Street is a reaction to the toxic
corporate culture in which we live.
It is a tactic in which people put themselves in inconvenient places
to garner attention to the problem of wealth and resource and equality that
is caused by a toxic relationship between big business and media and our
government. |
10:01:16:07 |
Interviewer What was the actual genesis moment? |
10:01:19:22 |
Kalle Lasn VO Around the time when Tunisia first happened after a
lot of interesting anarchic stuff that had been happening in Greece and Spain
to some degree and then of course there was regime change in Egypt. |
10:01:35:06 |
Kalle Lasn VO We are really in a situation in America where there
is also kind of a corporatocracy, I guess you could call it, or a regime
there. |
10:01:43:05 10:01:53:11 CAPTION Kalle Lasn Adbusters Occupy Founder |
Kalle Lasn And in our brainstorms we said to ourselves, we
need a regime change in America as well.
And we came to the conclusion that there is nothing more sexy, there's
nothing more exciting than occupying the very iconic heart of global
capitalism, which is Wall Street and to start our revolution there. |
10:02:03:18 |
Newsreader Mass arrests in New York today. |
10:02:05:17 |
Newsreader What's being called a mass pay of action for the
movement battling corporate greed. |
10:02:09:18 |
Newsreader With protests planned in many Occupy cities,
including LA, Portland, London and Madrid.
|
10:02:14:10 |
Newsreader New York City's Lower Manhattan still by far the
largest. |
10:02:17:02 |
Newsreader Will the demonstrations continue and will they
remain peaceful? |
10:02:20:22 10:02:22:04 CAPTION MOORE ON THE STREET |
Michael Moore The reason it doesn't have to be violent is because
there's millions of us and there's only really a few hundred of them. |
10:02:28:11 10:02:31:01 CAPTION Chris Hedges Journalist & Author |
Chris Hedges And I think it understood where power lay, that it
was outside of Wall Street, not out of Washington. |
10:02:33:13 |
Newsreader Our country's biggest banks were, and I quote here,
shoddy, risky and deceptive. |
10:02:39:05 |
Man in News Clip But you get to keep $480 million, is this
fair? |
10:02:46:09 10:02:47:17 CAPTION Jesse LaGreca Occupy Wall Street Journalist |
Jesse LaGreca It's infuriating, because the banks look at you
like you're lazy, the politicians look at you like oh, you just want a
handout, I'm like, motherfuckers. |
10:02:53:15 |
Suited Man in News Clip Take a shower and get a job. |
10:02:56:02 |
Jesse LaGreca Here's my wage as stagnant, here's my cost of
living going up, what did I fill the gap with? Debt. So I went into
debt and then I got poor and I couldn't afford basic shit and you're gonna
call me lazy? |
10:03:05:02 |
Man in News Clip with Red Tie If you are envious of somebody that happens to be
rich that you call a “fat cat”, go and get rich. |
10:03:11:17 |
Jesse LaGreca I'm telling you, these guys need to start creating
jobs or we're gonna start building guillotines and I only say that jestingly,
but you know, if someone takes me up on it… |
10:03:19:04 10:03:20:18 CAPTION Cornel West Philosopher |
Cornel West Of course, as you know, the Occupy movement's like
a jazz or an orchestra, there's no one leader. All the voices are lifted and it's a conversation. |
10:03:31:09 10:03:45:15 CAPTION Vlad Teichberg Global Revolution TV Founder 10:03:50:08 CAPTION Stephen Squibb Occupy Boston Organizer |
Vlad Teichberg You either go with the movement and you're pushing
the movement forward or you stand in the way. Well, if you choose to stand in the way the movement's like
water, it just goes around you. You
can't really stop it short of extreme violence, because of the people who are
perpetuating it and I think we've seen all these examples from the past where
people try to suppress ideas with violence, it never works. |
10:03:50:16 |
Stephen Squibb Its weaknesses?
Well, there are a lot! |
10:03:54:12 10:03:55:03 CAPTION Eli Feghali Occupy Boston Media |
Eli Feghali Historically fighting in social movements and been
the number one cause of it falling apart.
|
10:04:00:14 |
Kalle Lasn Now a question mark is hanging over the movement,
we're wondering where it's gonna go next and some people say it's dead. |
10:04:06:04 10:04:06:12 CAPTION Occupy Wall Street Organizer |
Interviewer If there's one threat to Occupy, what is it? |
10:04:21:05 10:04:22:21 MAIN TITLE OCCUPY THE MOVIE 10:04:46:21 CAPTION Chapter 1: Kill
the Bull |
Sandy Nurse I think it's
ourselves. |
10:04:49:17 10:05:00:11 CAPTION Cornel West Philosopher 10:05:11:04 CAPTION Aaron Black Occupy Wall Street Organizer |
Cornel West It's crucial that we understand the nature of this
particular moment, the capitalist economist is not true just for the United
States, this is true for the system as a whole and what this means then is
that we have to be able to tell an analytical narrative, tell an analytical
story of what some of the causes of the wealth inequality are. |
10:05:12:16 |
Aaron Black There was one meme
that really, really hits it home and we've all chanted it, it goes something
like this, "banks got bailed out, we got sold out." |
10:05:35:02 |
Aaron Black Enough said. |
10:05:39:08 10:05:51:22 CAPTION Robert Monks Author & Former Banker |
Robert Monks
In terms of allocating public resources, the
government's response to the financial crisis of 205 to now represents the
largest commitment of public resources to any project since the beginning of
the country. |
10:06:01:07 |
Rep. Peter DeFazio (Video Clip) I thank the
chair. |
10:06:04:03 |
Rep. Peter DeFazio (Video Clip) Well, secretary
Paulson has submitted a simple proposal to Congress, this is it, three
pages. It's about a billion dollars
award and it is quite simple.
Secretary Paulson gets the key to the treasury and can start off by
borrowing $700 billion in the name of the American people, maybe more later
and it waives all laws, all laws. No
oversight, no one looking over his shoulder, no conflict of interest rules. |
10:06:32:18 10:06:33:18 CAPTION The $700 billion pitch 10:07:01:22 CAPTION The pitch worked |
Henry
Paulson (Video Clip) I am convinced that
this approach will cost American families far less than the alternative, a
continuing series of financial institution failures and frozen credit markets
unable to fund everyday needs and economic expansion. Again, I'm frustrated. The taxpayer is on the hook, the
taxpayer's already on the hook, the taxpayer already is gonna suffer the
consequences and so the best protection for the taxpayer and the first
protection for the taxpayer is to have this work. |
10:07:03:00 |
George Bush
(Video Clip) Here in Washington
we reached an extraordinary agreement to deal with an extraordinary problem
in our economy. Working closely with
my administration, congressional leaders from both parties produced the
emergency economic stabilization act.
|
10:07:17:05 10:07:31:16 CAPTION Amin Husain Occupy Wall Street Theory |
George Bush
(Video Clip) Bold bill, this
bill commits up to $700 billion taxpayer.
Every member of congress and every American should keep in mind a vote
for this bill is a vote to prevent economic damage for you and your
community. |
10:07:31:13 |
Amin Husain I mean, that was a
redistribution of wealth under Bush and it carried through with Obama and in
the process of these bailouts was a redistribution of wealth upward. |
10:07:41:15 |
Amin Husain Again, that was
indicative of the people having to fend for themselves. |
10:07:47:20 10:07:49:02 CAPTION Alan Greenspan Federal Reserve Chairman 1987 - 2005 |
Alan
Greenspan There are firms in this country which are too big
to fail. |
10:07:52:13 |
Jesse
LaGreca Too big to fail.
|
10:07:53:05 |
Jesse
LaGreca Too big to fail.
|
10:07:53:24 |
Newsreader Too big to fail.
|
10:07:54:19 |
Newsreader Too big to fail.
|
10:07:55:21 |
Man in Video
Clip The whole concept
of too big to fail, that's disturbing markets all over the place. |
|
|
10:07:59:19 10:08:00:01 CAPTION Reggie Middleton Investor & Analyst |
Reggie
Middleton The logic behind
the too big to fail movement was that there's certain incidents and certain
entities and certain banks that are so big they cannot fail without dragging
down the rest of the financial world.
Absolute nonsense, you know.
Banks have been failing for the two or 3,000 years that we've been
having banks, probably before 2,000 years when you had cavemen trading rocks,
basically. One caveman had too many
rocks, he couldn’t carry, he fell, broke his leg, he's out of business. Did cavemen stop existing? Did rocks stop? No. They had another guy
who picked up the rocks and started doing business. |
10:08:30:05 10:08:30:08 CAPTION Douglas Rushkoff Media Theory |
Douglas
Rushkoff The banks actually
got bigger, right? And in the
aftermath where we ended up now with institutions that are even too bigger to
fail than they were before. |
10:08:40:18 |
Reggie
Middleton Now your JP Morgan, which in my opinion is nowhere
near as big as is alleged and this one actually leaves it alone. The problem is if you're healthy you're
not gonna remain healthy if you consistently eat sick things. |
10:08:55:08 |
Reggie
Middleton [UNSURE OF WORD],
you know, the smallest of all by the way that was allowed to go bust, back in
America both Countrywide and Maryland, like those two entities alone could
have been enough to bring the system down, right? Now you have Bank of America so involved with them, the Bank of
America is having its own problems, the Bank of America is a walking zombie
right now. |
10:09:15:22 |
Mr Murphy What would we do if we wanted to eliminate too big
to fail? What would be the steps that
we would take? |
10:09:21:17 |
Alan
Greenspan Well, I think the
first thing you have to say as a minimum you could raise capital charges or
raise fees, but you cannot allow it to go on without very serious
consequences. |
10:09:32:08 10:09:32:11 CAPTION Jesse LaGreca Occupy Wall Street Journalist |
Jesse
LaGreca We need to break up the too big to fail banks, we
need to break up these big monopolies, because if we don't break them up at
some point they break us up. |
10:09:39:13 |
Stephen Squibb And that's why I don't think you hear a lot of
people being angry about Bill Gates even, you know, Bill Gates is not a great
enemy of Occupy, right? Ben and
Jerry's are not a great enemy of Occupy, Google is not a great enemy of
Occupy yet, hopefully it'll stay that way.
|
10:09:53:21 |
Stephen Squibb Who is the enemy of Occupy? The banks, because the banks are in Matt's
legendary phrase, "a great vampire squid on the face of humanity,
sticking its blood funnel in anything that smells like money." |
10:10:08:15 |
Interviewer I guess where I wanna start is the bank, I think a
lot of people, you know, when they talk of banks, corporations, they bundle
them together. What are these
institutions? How are they structured
and are they structurally going to always lead to failure as they did in
2008? |
10:10:25:22 10:10:26:10 CAPTION Robert Monks Author & Former Banker |
Robert Monks I think the bank
really can be understood as being two things. One is a utility, it is like water, light, air, it's something
people have to have in order to maintain anything like the level of
civilisation that we now do. |
10:10:46:18 |
Eli Feghali Banks are critical, they're critical for economic
growth, small business, big business,
home ownership, they're an essential institution. |
10:10:56:14 |
Robert Monks The other part of
what people call a bank is a gambling casino and the difficulty that we've
run into is that we conjoin the gambling casino with the bank and when the
casino gambled and lost the money came out of the guarantee by the government
of the utility function of the bank. |
10:11:16:08 |
Interviewer Historically what led to that conjoinment? |
10:11:20:21 |
Robert Monks Well, historically
it's quite strange and I can speak with a certain amount of passion and
experiences, I used to be chairman of a bank and I ultimately sold the bank
to perhaps the single individual who most well explains the rise of the bank
and he's a man named Sandy Weill. |
10:11:41:10 10:12:26:06 CAPTION Lloyd Blankfein CEO, Goldman Sachs |
Robert Monks As is so often the
case in both democracies and in large corporations, a single individual
explains most everything and Sandy Weill essentially was a man who understood
power and he had the impression that by building the thing that was the
biggest he could build the thing that was the best and that was the most
enriching and ultimately being able to induce virtually all of the
governmental officials at the end of the Clinton administration and they
overruled it and so he ended up with the ultimate institution. It provided every kind of financial
service to everybody everywhere, you know.
One stop shopping. |
10:12:26:18 10:12:35:12 CAPTION PARTNERSHIP MODEL |
Robert Monks In order to meet
the competition that Weill's bank presented, Blankfein had a difficult
problem running Goldman Sachs, because at that time while Sandy Weill was
building this Goldman Sachs was a partnership and a partnership is very,
very, very different than a corporation.
|
10:12:46:16 |
Reggie
Middleton Well you have
partners who pool together, they took their capital, they put it into a
partnership, they did business, they made money and then they reinvested
their money. |
10:12:55:18 |
Robert Monks Goldman Sachs then became a corporation, it then
became a public corporation, then it became a very large public corporation
and they thereby changed their character really violently. |
10:13:10:17 |
Reggie
Middleton The risks that you
see going on in investment banks being blown up was unheard of just a few
years ago, the reason why you have that now and you didn't have it back then
is because investment banks are using OPM, other people's money. They are able to lever up and take risks,
because the risks they are taking now is primarily public stockholders'
money. When you're using someone
else's money you can be extremely, extremely risky, which brings in the
investment bank cartel, pardon me, the investment banking industry. |
10:13:35:02 |
Robert Monks So what Sandy Weill had done through guts and
perseverance and just playing [UNSURE OF WORD] now became legal for anybody
to do. |
10:13:43:12 |
Lady in
Purple Top I wanna get to that
high unemployment, because that is one of the things driving these Occupy
Wall Street protests that have been happening all over New York City. What is your thought about these
protests? Do you think that the anger
towards big bank, like City Group, for example, is merited? |
10:13:59:10 10:14:12:16 CAPTION Nine months after this interview 10:14:15:11 CAPTION Something changed his mind |
Sandy Weill What I really think is that it's time to stop
pointing fingers about the past. If
we are so possessed with thinking about the past and pointing fingers we're
not gonna get moving and that's bad. |
10:14:16:00 |
Newsreader Former CEO Sandy
Weill now says he would support breaking up the biggest banks. His comments touched off a firestorm
across Wall Street. |
10:14:25:10 |
Sandy Weill What I think mostly
is that there is such a feeling among people all over the world against the
banking system and I don't think that's gonna change so soon, so I think what
we should probably do is go and split up investment banking from banking and
have banks do something that's not gonna risk the taxpayer dollars, that's
not gonna be too big to fail. |
10:14:52:24 |
Newsreader You would never expect something like that to come
out of Sandy Weill's mouth, I mean, the person who created the animal now
wants to kill the animal. |
10:15:00:04 |
Newsreader That's a pretty radical idea though, the idea of
breaking up the investment banks and the banks, were you suggesting going
back and really breaking these companies up?
|
10:15:07:02 |
Sandy Weill That's exactly what
I'm suggesting. I wanna see the
United States be the leader and we're not gonna be a leader if we keep on
trashing our institutions. |
10:15:16:18 10:15:34:14 CAPTION Chapter 2: Utopian Theater |
Sam Seder I don’t know what happened to this guy, maybe he
had like one of those like, near death experiences or something. Or he just figured “I've made all my
money!” |
10:16:18:22 |
VO Manhattan has a very cloistered pedestrian
vibe. You walk down the street and
you look forward and you don’t talk to anyone, like that's how this
works. |
10:16:30:14 |
VO There's 20 million people living in this
metropolitan area and no place for us to mass assemble. |
10:16:40:20 10:16:50:14 CAPTION Andy Bichlbaum Yes Men |
Andy
Bichlbaum And we started hearing about it from various people
in New York and I just remember thinking well, yeah, good luck, like you're
gonna occupy Wall Street, ok, totally impossible and I've got other things to
do and then it happened. |
10:17:02:07 10:17:08:17 CAPTION Kalle Lasn Adbusters Occupy Founder |
Kalle Lasn The core impulse
behind Occupy is this feeling that hundreds of millions of people around the
world have that the future, their future just doesn't compute. Their life is going to be full of
ecological crisis and climate change and tipping points and financial crisis
and an ability to pay off your loans and you're never going to be able to
live the kind of life that your parents lived and if you want to have any
kind of a future then you have to fight for that future. |
10:17:30:04 |
Michael
Levitin This was the outburst, this was the tantrum, the
rebellion that had to happen, you had to take over, physically occupy parks
and spaces and ignore beatings from police telling you, you could not do it,
we had to do that as a tactic to wake this country up. |
10:17:46:01 |
Man in Grey
Jumper This is my fourth
night, I've gathered kind of a roommate kinda. |
10:17:51:01 |
Man On
Street in Tie I've been here since 12 o' clock last night. I intend to stay for 30 hours, since I've
got class 12 o' clock tomorrow. |
10:17:59:03 10:18:06:02 CAPTION Mattathias Schwarz The New Yorker Journalist |
Mattathias
Schwarz It was a kind of utopian theatre, but it was a
place where people could just go and act out what they thought a
revolutionary society would look like on a very small scale. |
10:18:11:00 10:18:23:19 CAPTION Nathan Schneider Waging Nonviolence Blog Editor |
Nathan
Schneider And I think that's
part of why it was able to sustain the attention for so long of the media, it
provided so many interesting and rich questions and so many interesting
answers, it was kind of like a reporter's playground. |
10:18:27:03 10:18:33:08 CAPTION Pete Dutro Occupy Wall Street Finance |
Pete Dutro The kitchen went very quickly from feeding, you
know, doing a few hundred meals to doing thousands of meals a day. We were actually at that point where the
largest soup kitchen in New York. |
10:18:37:04 |
Medic on
Wall Street I'm with the medic crew here in Occupy Wall
Street. I've treated some basic
things - cut fingers, coughs and colds.
|
10:18:45:10 10:18:45:00 CAPTION Molly Crabapple Artist |
Molly
Crabapple And I've lived
across from Zuccotti Park, there was nothing going in that park before
Occupy. |
10:18:49:23 10:18:55:01 CAPTION Priscilla Grim Occupy Wall Street Web Outreach |
Priscilla
Grim And I et you any money that all of, you know, all
the business immediately around the park experienced huge jumps in, you know,
in profits during that time. |
10:19:01:06 |
Cory I'm Cory. |
10:19:02:16 |
Sam What's your name? |
10:19:02:24 |
Cory I'm Cory. |
10:19:03:13 |
Sam Sam. |
10:19:04:06 |
Cory Sam, nice to meet
you. |
10:19:05:12 10:19:06:20 CAPTION Sam Sam's Hotdogs |
Sam Nice to meet you,
buddy. |
10:19:07:22 |
Cory Just wanted to know
what did you think about Occupy when they were here? |
10:19:10:17 |
Sam I don't know, I
don't speak English, sorry about that.
|
10:19:13:01 |
Cory Yeah you do. |
10:19:16:16 |
Cory Were they good for
business or bad for business? |
10:19:19:12 |
Sam I don’t speak
English, I'm eating. |
10:19:21:13 |
Newsreader The Occupy Wall Street protestors continue to call
Lower Manhattan "home". |
10:19:25:15 |
Newsreader There are questions about exactly what it wants and
more importantly how it plans to get it.
|
10:19:31:04 10:19:32:18 CAPTION Mark Beissinger Social Movement Theory Princeton
|
Mark
Beissinger Occupy, by standing
for so many things and really refusing to strategise in some ways may have
missed the boat. |
10:19:42:13 10:19:58:17 CAPTION September 24, 2011 New York City |
Kalle Lasn And now this Occupy movement, which last year felt
like it would never fizzle out, all of a sudden even that movement is in
danger of fizzling out, so I think the real trick to learn is how to be
energised, how to be spontaneous and how to play jazz. |
10:19:59:23 |
Stephen
Squibb VO Right at the beginning of Occupy there was a moment
I think that really was the birth of Occupy more than any single moment and
that was the second weekend of Occupy Wall Street. During a march up to Union Square the police decided that
enough was enough after occupiers had taken the street and kettled the
marchers with orange nets, surrounding them and trapping them and one
officer, Officer Bologna, came up and sprayed, pepper sprayed the women in
the face. |
10:20:42:17 |
Stephen Squibb The days after that were really interesting at
Liberty Plaza at Zuccotti Park, because suddenly a lot more reporters were
there. |
10:20:52:06 |
Stephen
Squibb VO Well on October 1st there was a big march called
and it began in Liberty Plaza in Zuccotti Park and a couple thousand people
rallied there and began marching and the plan was to cross the Brooklyn
Bridge. The plan that the Direct
Action Working Group had made and publicised was primarily to go over the
pedestrian walkway, but then another group of people decided actually to go
onto the road. |
10:21:24:23 10:21:28:21 CAPTION Stuart Applebaum RWDSU Union President |
Stuart
Applebaum What
happened on Brooklyn Bridge is going to be a stain on this city for a long
time to come. |
10:21:31:16 |
Stephen
Squibb VO They got about a third of the way across the
bridge, they were stopped by police nets and a blockade and the NYPD
proceeded to arrest everyone who was there, including journalists, including
children. |
10:21:48:00 |
Stuart
Applebaum VO People of New York
who were trying to express peacefully a point of view were attacked for
having that point of view. |
10:22:03:11 |
Priscilla
Grim I think it was three or four weeks in, I woke up,
it was Sunday morning and I opened the New York Times and I realised half the
paper literally was dedicated to Occupy.
It was setting everyone's mind on fire. |
10:22:18:07 10:22:26:17 CAPTION Tim McCarthy Social Movement Theory Harvard 10:22:37:11 CAPTION Chapter 3: The Fed |
Tim McCarthy
Then the next thing you know it's all over the place, it's in Boston, it's in Philadelphia, it's in Oakland, it's in a whole range of places all over the country, it proliferated pretty quickly and that's when I really began to think oh, this is something. |
10:22:40:21 |
Protester There is nowhere left to run. If we lose America we lose the world to
the elite. The one percent will
continue to get rich as we all live like slaves. If you think the way of life is bad now you will all be living
in projects like Hoovervilles. We
need to end the Federal Reserve. |
10:23:03:17 10:23:04:00 CAPTION Reggie Middleton Investor & Analyst |
Interviewer What is the Federal Reserve? |
10:23:05:12 10:23:22:17 CAPTION What Is The Fed? Ben S. Bernanke Chairman, Federal Reserve |
Reggie
Middleton The Federal Reserve
is a quasi private or a private bank that basically acts as a bank to the
banks. I follow this stuff very well
and I'm not sure I know what the Federal Reserve is. It's basically a big guy box. |
10:23:26:03 |
Ben S. Bernanke Hi, I'm Ben
Bernanke, chairman of the Federal Reserve system. |
10:23:29:23 |
Steve Meyer Hello, I'm Steve Meyer.
I'm an economist here at the Federal Reserve in Washington. |
10:23:34:24 |
Ben S.
Bernanke The Fed, as it's
often called, is the central bank of the United States. |
10:23:38:24 |
Steve Meyer The congress
created the Fed and made it responsible for monetary policy |
10:23:43 |
Richard
Parker That is the
government-controlled bank or government related bank that will be the
standard for issuing the pieces of paper that will be the substitute for
carrying around inordinate numbers of gold coins in order to conduct
business. |
10:24:00:16 10:24:07:16 CAPTION Jamie Dimon CEO, JP Morgan Board of Directors New York |
Ben S.
Bernanke The Federal Reserve
also helps to supervise and regulate
nation's banks and works to promote a stable financial system. |
10:24:07:21 10:24:19:20 CAPTION Jesse LaGreca Occupy Wall Street Journalist |
Jesse
LaGreca Jamie Dimon is on
the governing body of the Federal Reserves, so let me get this straight, the
guy who's in charge of one of the big banks is also in charge of the
organisation that's supposed to be applying oversight to the big banks? Yeah, it's kind of literally like putting
the fox in charge of the henhouse. |
10:24:26:10 |
VO That Jamie Dimon is on the board of the New York
Fed is just very consistent with the origins of the Fed, which was this
bargain that created a semi government, semi private central bank. |
10:24:40:09 |
VO The Federal Reserve
was set up in the wake of an enormous financial crisis in 1905 in which Wall
Street melted down, the economy started to melt down and there was no Federal
Reserve. |
10:24:53:17 |
VO At the time of that
crisis the policy response came solely from private bankers cantered around
JP Morgan. |
10:25:02:12 |
VO One of the most influential banker, most powerful
banker in the country, essentially rallied other large banks in New York to
provide the emergency landing needed to get the economy back on its feet. |
10:25:17:15 |
Richard
Parker That drew the
attention of lots of people who asked the question, "why are we turning
over the health of the economy in terms of its recovery to JP Morgan and a
handful of other wealthy bankers?
Because it's quite clear that Morgan made an enormous amount of money
in the way that he structured the recovery. |
10:25:36:01 |
Richard
Parker When the Federal
Reserve was then set up, the republicans and democrats, you may have heard
about this, didn't trust one another enough to believe that if it was a
directly supervised entity that politics wouldn't enter in and the bankers
were very reluctant for their own reasons to join a system that risked that
kind of political pressure on them from elected officials in Washington, so the
bankers set up as nominally independent.
|
10:26:09:15 |
Ben S.
Bernanke As we learned
during the financial crisis, financial instability can pose a severe threat
to the broader economy. |
10:26:15:17 |
Steve Meyer So the Fed reduced
short term interest rates sharply, about as low as possible. Even so, output and employment continued
to shrink. The Fed decided it needed
to do more. |
10:26:28:04 10:26:33:06 CAPTION Richard Parker Mother Jones Magazine Co-Founder 10:26:39:18 CAPTION The term "toxic mortgage asset" was coined in the financial crisis of 2008 10:26:43:17 CAPTION DEFINITION A stock that bases its value on high-risk sub-prime mortgages. 10:26:48:17 CAPTION When too many homeowners default, the stock has no buyers on the market. |
Richard
Parker And what is does is
it's been going out to the banks and it's saying all right, we'll buy those
toxic mortgage packages from you and we'll give you cash for them. |
10:26:54:02 10:27:00:13 CAPTION $1,700,000,000,000 |
Steve Meyer The Fed bought a
large amount of bonds and other longer term securities, about $1.7 trillion
in total. |
10:27:01:24 |
Richard
Parker Because in effect,
in 2008 and 2009 nobody wanted to buy any of those packages and their
effective net worth was zero. |
10:27:10:05 10:27:13:18 CAPTION (actual Fed animation) |
Steve Meyer You may wonder how
the Fed pays for the bonds and other securities it buys; the Fed does not pay
with paper money. Instead the Fed
pays the seller's bank using newly created electronic funds and the bank adds
those funds to the seller's account.
The seller can spend the funds or can simply leave them in the
bank. |
10:27:32:04 |
Protester That's fake money that they printed out of thin
air. FIAT money, that’s FIAT
currency! |
10:27:40:04 10:27:44:04 CAPTION TRANSLATION 10:27:47:09 CAPTION a risky trader that can print money who answers to no one 10:28:03:18 CAPTION Chapter 4: I Am Not Moving |
Reggie
Middleton Seven years ago the Federal Reserve was a totally
different animal than it is now.
Right now the Federal Reserve, the closest approximately could be a
gigantic dynamic hedge fund with unlimited leverage capability and the
inability to be taken to task by its shareholders and investors. |
10:28:08:09 |
Stephen
Squibb In every movement there are acts of resistance and
there are acts of alternative building.
For Gandhi, for instance, the alternative building was far more
important and took up far more of his energy actually on a day to day basis than
the resistance, and he thought they were far more important. So I think that the occupiers' emphasis on the
occupations and on creating the life there, you know, is not out of keeping
with the tradition of effective resistance movements. |
10:28:39:13 10:28:46:06 CAPTION Gideon Oliver National Lawyer's Guild President, NY Chapter |
Gideon
Oliver The city has taken the position that none of the
activities that really formed the heart of the physical occupation, aside
from the mere fact of gathering, are protected under the first amendment. |
10:28:51:22 |
Molly
Crabapple So he announce that the park was gonna be cleared
and that night thousands of people, teamsters and party promoters from
Brooklyn and homeless street kids and old ladies, they cleaned the park, on
their hands and knees they cleaned it and then they stood in solidarity all
night and said no, you're not gonna clear the park and Bloomberg backed
down. |
10:29:12:03 |
Newsreader In New York Zuccotti Park all morning long, a
confrontation between police and Occupy Wall Street protesters was avoided
after the park owners cancelled cleanup and decided that the protest can
stay. |
10:29:22:10 10:29:35:16 CAPTION 2 weeks after the failed eviction, an early snow storm hit New York |
Pete Dutro The real heroes of Zoccotti Park was the sanitation
team. They worked harder and longer
hours than most of the other working groups and really got very little
credit. I mean, they saved us from
getting evicted. |
10:29:38:15 |
Pete Dutro I was in bed with like, 104 degree fever and the
snow hit and then it just started going wild and everybody was getting
hypothermic. I thought to myself, you
know, people could actually die out here.
|
10:29:51:05 |
Stephen
Squibb Occupation is the central tactic for the Occupy
movement, it's what put it on the map, it's what people did all over the
country in order to identify with this movement and to unite their goals and
aspirations. Of course, sometimes the
means has become mistaken for the ends.
|
10:30:11:13 10:30:19:18 CAPTION Pete Dutro Occupy Wall Street Finance |
Pete Dutro From after that
first, you know, real attempt to evict us it,was kind of a waiting game, you
know, like we knew that they were gonna try it again, we just didn't know
when. |
10:30:23:13 10:30:37:20 CAPTION George Machado Occupy Wall Street Organizer |
Michael
Bloomberg Over time I'd become increasingly concerned that
the occupation was coming to pose a health and fire safety hazard to the
protestors and to the surrounding community, but make no mistake, the final
decision to act was mine and mine alone.
|
10:30:38:03 10:30:42:19 CAPTION November 15 2011 Zuccotti Park |
George
Machado Well, the raid was
brutal. |
10:30:43:09 |
Protester What's going on?
What's going on? |
10:30:44:19 |
Protester The police are
beating the people with billy clubs now.
|
10:30:47:09 10:30:53:18 CAPTION Nicole Carty Occupy Wall Street Organizer |
Nicole Carty
It's just the space that was so much to so many
people and home to friends being wiped off the face of the earth. |
10:30:56:21 |
George
Machado VO I had left with Nicole. |
10:30:59:10 |
Nicole Carty Just even coming
off of a really exhausting day period.
|
10:31:02:12 |
George
Machado VO So when you decide just to go home and get some
food and relax. |
10:31:06:04 |
Nicole Carty We were just like,
I'm so tired, I'm like so stoked to like, sleep, you know, I'm gonna sleep. |
10:31:12:06 |
George
Machado VO Around 12 o' clock we get a text message that the
park is being raided, we were like, oh my god. |
10:31:17:00 |
Nicole Carty We just hopped in a
cab and went back to Zuccotti Park. |
10:31:20:05 |
George
Machado VO It's completely locked down, four block
radius. |
10:31:22:22 |
Nicole Carty And George is like,
running around and had all this energy and I was like, are you kidding
me? |
10:31:27:05 |
George
Machado I booked it and
just sprint inside and it was great, the sanitation workers like, were
defence for me. |
10:31:33:09 |
Nicole Carty Somewhere they just
got orders to like, start pushing people doubt. Then like, I saw them take it out and like, start spraying it
and it was like this very surreal moment before we were like oh, I'm being
pepper sprayed right now. |
10:31:43:05 |
George
Machado VO And as soon as I
get there I sit down, I put a U lock around my neck, lock myself down to the
rest of my friends and just wait. |
10:31:50:13 |
Nicole Carty We rushed to this
convenience store and like, Sandy was there and she like, made this
concoction of water and milk and like, doused us with it so that we could see
again. |
10:31:58:23 |
George
Machado I was livid
watching these garbage trucks just destroy everyone's property. |
10:32:03:12 |
George
Machado I just picked up a booklet, brave new world revisited by Alous Huxley. |
10:32:08:14 |
Interviewer What did they do with everything? |
10:32:10:11 |
Nicole Carty They trashed it, they trashed
everything. : |
10:32:12:16 |
Protester Where are you
taking this stuff? 10:32:14:22 SUBTITLE: I guess to the
dump! |
10:32:15:04 |
Police
Officer I guess to the
dump. 10:32:15:18 SUBTITLE: say that again |
10:32:15:24 |
Man in Grey
Jumper Say that
again. 10:32:16:20 SUBTITLE: don't say nothing |
10:32:16:21 |
Police
Officer Don't say
nothing. |
10:32:19:02 10:32:24:16 CAPTION Gideon Oliver National Lawyer's Guild President, NY Chapter 10:32:33:00 CAPTION November 16 2011 Zuccotti Park |
Gideon
Oliver Because it happened literally in the middle of the night
and without any meaningful warning, you know, those of us who wanted to
provide some legal support were left in a position where we had to scramble
and wake up a judge. |
10:32:36:19 |
Gideon
Oliver VO Judge Lucy Billings issued a court order, an injunction
basically, a restraining order on the NYPD, but the NYPD refused to adhere to
the court order.
|
10:32:58:07 |
Pete Dutro The city thought
that if they evicted us before our N17 that this was going to get us to stop
protesting and really what it did was I think swelled our ranks on N17. |
10:33:12:14 |
George
Machado Experiencing the
eviction the night before and having that be on like, the lashing that it was
and having to see that, people came that morning with a lot more anger. 10:33:23:09 SUBTITLE: Mic check |
10:33:23:13 |
Protesters Mic check. 10:33:24:04 SUBTITLE: Mic check |
10:33:24:07 |
Man Chanting
Mic check. 10:33:24:21 SUBTITLE: Mic check |
10:33:24:23 |
Protesters Mic check. 10:33:25:02 SUBTITLE: Mic check 10:33:25:22 SUBTITLE: Look at you now |
10:33:26:13 |
Man Chanting
Look at you now.
10:33:26:19 SUBTITLE: Look at you now |
10:33:26:24 |
Protesters Look at you now.
10:33:28:02 SUBTITLE: Look how strong we are |
10:33:28:01 |
Man Chanting
Look how strong we are. 10:33:29:09 SUBTITLE: Look how strong we are |
10:33:29:11 |
Protesters Look how
strong we are.
|
10:33:31:06 |
Newsreader We're about three hours into this day long Occupy
Wall Street event marking the two month anniversary of this movement that
began here in New York, dozens of people have been arrested, sound cannons
have already been used, women tackled to the ground and hauled off in vans. |
10:33:49:24 |
George
Machado At first it was
like, a few dozen of us and a few hundred came behind us and I stood in front
of a wall of police, like walls and walls of police with no fear. There was one point where like, this cop's
face was like, literally an inch from mine, his scooter wheel was in between
my legs and I'm just up there with two peace signs yelling in his face
"we are peaceful, I am not moving." |
10:34:14:00 |
Tim Pool Brendan, a bunch of blue shirts jumped the barricade and
ran up to him and they knocked him on the ground, bashing his head on a
curb. They were stomping on his head,
they were kicking him and when they picked him up just his whole face is
covered in blood, you can see his teeth are knocked loose and he's totally out of it. |
10:34:30:07 10:34:39:07 CAPTION November 18 2011 Zuccotti Park |
Man in Blue
T-shirt I wouldn't be a bit
surprised if it was not blood on the Occupier on MSNBC, but rather ketchup or
stage blood. |
10:34:41:19 10:34:53:14 CAPTION Jen Waller Occupy Wall Street Organizer 10:35:07:23 CAPTION Chapter 4: Corporatocracy |
Jen Waller My main feeling
was, you know, we're gonna get through this and hopefully this will make us
stronger as activists and as people and hopefully this will make our movement
stronger, hopefully we can do the press work after this to, you know, show
people that look at what we're trying to do here, we're trying to sit in a
park and talk. |
10:35:12:24 |
Mitt Romney We have to make sure that the promises we make in
social security, medicate and Medicare are promises we can keep and there are
various ways of doing that. One is we
could raise taxes on people, that's not the way… corporations are people, my
friend. We can raise taxes. Of course they are, everything
corporations earn ultimately goes to people.
Where do you think it goes? |
10:35:34:22 |
Audience It goes in your
pockets. |
10:35:36:16 |
Mitt Romney Whose pockets? Whose pockets? People's pockets. Ok,
human beings, my friend. |
10:35:42:00 10:35:42:17 CAPTION Aaron Black Occupy Wall Street Organizer |
Aaron Black I could probably
grab any of these people off the sidewalk and say "what do you think of
corporate personhood? Do you think
that's a good idea? Do you think
corporations should have the same rights as people? Do you think money is free speech?" What do you think they'd say? I don't think they'd yeah, yeah that's a
really good idea. |
10:36:08:04 |
VO The corporation has been evolving toward
personhood, you know, since the very beginning, that was its destiny, you
know, it kind of flipped into personhood in the Lincoln era. |
10:36:22:15 10:36:35:08 CAPTION money = speech |
VO After the civil war corporations were defined as
individuals in court cases in the law as a way to think about the kind of legal
identity of a corporation, of a business.
This idea of money is speech I think is really something that's fairly
new and we're already beginning to see just how horrible it is. |
10:36:43:17 10:36:53:04 CAPTION Robert Monks Author & Former Banker |
Robert Monks The law of the land was that a corporation is a
person, that it is unconstitutional to restrain corporate speech, now what is
corporate speech? I don't know, but
the supreme court said corporate speech turns out to be money. |
10:37:01:03 10:37:03:17 CAPTION speech = free money = speech |
Jesse
LaGreca Naturally what the heard of citizens united comes
down to, if speech is free then money should equal speech. Well it's not free speech if someone paid
for it. |
10:37:09:24 |
Lisa Fithian The brazenness by which they're doing this is
really quite stunning. |
10:37:16:12 10:37:17:07 CAPTION ALEC THE AMERICAN LEGISLATIVE EXCHANGE COUNCIL |
Cenk Uygur Now if you don’t
know this, there's a group called ALEC, it's the business community which
gets together and says how can we basically buy all the politicians on a
state and federal level and then actually hand them the piece of legislation
and have them submit it and go huh, golly gee, I got this great idea to crush
unions, where did I get that from? |
10:37:33:07 10:37:34:03 CAPTION Rachel Burgin |
Cenk Uygur We've got a Florida
State representer, Rachel Burgin, who put in a bill and forgot to take out
the part that was actually in the memo about ALEC itself, ok? Get a load of what she submitted into the
legislature, quote, "House Memorial.
A memorial to the Congress of the United states urging congress to cut
federal corporate tax rate. Whereas,
it is the mission of the American Legislative Exchange Council to advance
Jeffersonian principles of free markets, limited government, federalism, and
individual liberty, and… |
10:38:07:20 |
Cenk Uygur You
understand? That's the thing that
they wrote, gave to the politicians saying this is why it is our position and
that's of course ALEC, American Legislative Exchange Council. |
10:38:18:16 |
Cenk Uygur You
understand? They don't represent us
at all. |
10:38:23:11 |
Cenk Uygur When she realised her mistake 24 hours later she pulled
it in a panic, like I didn't mean that, I didn't mean that and then she
resubmitted the same exact thing just with that sentence about ALEC taken out. |
10:38:37:04 10:39:09:18 CAPTION Ian Murphy, editor of the BEAST online newspaper 10:39:14:11 CAPTION prank calls Wisconsin Republican Governor, Scott Walker 10:39:19:07 CAPTION posing as New York's richest man, David Koch 10:39:23:24 CAPTION The Koch empire has donated over $196 million to Republican front groups |
Robert Monks We've had what I call a capture by the business
round table, chamber of commerce, large companies of the power to control the
allocation of resources in this country.
And so resources that in the past might have been directed in ways
that enhanced the public welfare are now being directed to industries that
have participated in this capture of the governmental process. |
10:39:30:12 10:39:31:24 CAPTION Gov. Scott Walker Real David Koch |
Scott Walker Hi, this is Scott
Walker. |
10:39:32:02 |
Ian Murphy Scott, David Koch,
how are you? |
10:39:34:08 |
Scott Walker Hey David, I'm good
and yourself? |
10:39:36:22 |
Ian Murphy I'm very well. Little disheartened by the situation
there, but what's the latest? |
10:39:42:13 |
Scott Walker We're actually
taking it pretty tough, you know, amazingly there's a much smaller group of
protesters, almost all of them are in from other states today. |
10:39:50:10 |
Ian Murphy Now who could we
get to budge on this collective bargaining?
|
10:39:54:19 |
Scott Walker Well I think in the
end one, the paycheque will have an impact.
|
10:39:59:09 |
Ian Murphy Beautiful, beautiful, gotta crush that union. |
10:40:03:04 10:40:09:01 CAPTION Chris Hedges Journalist & Author |
Chris Hedges
Politicians are
essentially corporate employees, they run errands for corporate lobbyists,
they pass legislation written by corporate lobbyists and when they get out of
office they become corporate lobbyists.
|
10:40:16:01 10:40:16:23 CAPTION Douglas Rushkoff Media Theory |
Douglas
Rushkoff It's funny, my
friends on the, I don't know if you call them on the right, is Kissinger on
the right? I don't know what he is…
now tell me that it's well established in their circles that democracy didn't
work. |
10:40:29:24 10:40:37:15 CAPTION Richard Parker Senior Economist, Harvard 10:40:46:11 CAPTION Wall Street Donors 10:40:49:05 CAPTION Bank of America $421,242 10:40:52:01 CAPTION Morgan Stanley $512,232 10:40:54:24 CAPTION UBS $532,674 10:40:57:20 CAPTION citibank $736,771 10:41:00:18 CAPTION J.P. Morgan $808,799 10:41:03:15 CAPTION Goldman Sachs $1,013,091 Obama's Biggest 2008 Donor |
Richard
Parker The Obama administration, for its own reasons, was
very reluctant to begin a cycle of prosecution during its first term of
office and I can just imagine what the arguments are that the president
heard. His economic advisers would
have said to him they will punish you badly in return if you try to prosecute
some of them. Then as they group they
will recognise that you are a threat to them and when the 2012 campaign comes
around, Monday that you, President Obama, actually raised on Wall Street,
which was not insignificant, will go to your republican opponent. |
10:41:14:15 10:41:20:02 CAPTION Amin Husain Occupy Wall Street Theory 10:41:39:13 CAPTION Chapter 6: Occupy 2.0 |
Amin Husain The status quo's
untenable. People that get elected
are responsive to people that elect them, but they're responsive to global
capital and I think that was the break.
|
10:41:44:05 10:41:49:14 CAPTION Sandy Nurse Occupy Wall Street Organizer |
Sandy Nurse Losing the park propelled us into this two to three
month window where people were just like, falling off, because they no longer
had a place to stay and they no longer had a constant food source. |
10:41:59:10 10:42:10:18 CAPTION Comel West Philosopher |
Comel West I can understand a person
becoming pessimistic or becoming more despairing, because they want to go
back to those first moments, those moments of unbelievable enthusiasm and
intensity and passion and no, you can't go back. |
10:42:14:19 |
Suited Man
in News Clip So, the Occupy Wall Street movement is dead,
finished as a legitimate political force in this country and that's a good
thing. |
10:42:21:24 10:42:21:14 CAPTION Stephen Squibb Occupy Boston Organizer |
Stephen
Squibb No one can keep a camp going at this point for longer
than two and a half months, whether that's in a denial camp in Spain or an
Occupy camp in America. |
10:42:29:03 10:42:30:19 CAPTION Nicole Carty Occupy Wall Street Organizer |
Nicola Carty In a way losing the parks liberated the movement,
in a way it confused it. |
10:42:36:10 10:42:50:08 CAPTION Mark Bessinger Social Movement Theory Princeton |
Mark
Beissinger One of its unique
aspects is its absence of leadership structure. In fact, social movement theory would tell you that a social
movement that doesn't have clear leadership, doesn't have clear goals
probably won't persist over a long period of time. In some ways Occupy has defied the odds. |
10:42:53:04 |
Mattathias
Schwarz One thing I think
that you saw in Occupy is leaders who deny that they were leaders. |
10:42:59:03 10:43:00:00 CAPTION Aaron Black Occupy Wall Street Organizer |
Interviewer So let me just ask you, what is it like being a
leader in this movement? I know
that's a really tough word, but let's be honest, man, I've seen you at work,
I've seen the people asking you for advice.
|
10:43:10:12 |
Aaron Black A little
uncomfortable. |
10:43:14:23 |
Aaron Black We don’t have a
leader. But there are people steering
the ship. I'm not gonna lie to you,
there are people who have influence in this movement. |
10:43:27:03 |
Barack Obama
Well before I came
to school today I had coffee. 10:43:30:00 SUBTITLE: Mic Check! Mic Check! |
10:43:30:14 |
Audience Mic check, mic check. |
10:43:34:12 |
Newsreader And more recently we have seen another new process
tactic gain some traction across the country and that is the human mic, an
Occupy Wall Street innovation. In the
absence of a microphone it's a means of communicating to a large group of
people. |
10:43:46:23 |
Human
Microphone We amplify each
other's voices. |
10:43:49:12 |
Protesters We amplify each
other's voices. 10:43:51:24 SUBTITLE: Mic Check! Mic Check! |
10:43:52:02 |
Audience Mic check!
Mic check. 10:43:53:04 SUBTITLE: Mr. President |
10:43:53:24 |
Audience Mr President, over 4,000 peaceful protesters have
been arrested, while banksters continue to destroy the economy with
impunity. 10:43:55:13 SUBTITLE: Over 4,000 peaceful protesters 10:44:00:20 SUBTITLE: have been arrested 10:44:03:17 SUBTITLE: While banksters continue 10:44:07:01 SUBTITLE: to destroy the economy with impunity |
10:44:12:10 |
Barack Obama No, no, it's
ok. |
10:44:13:10 10:44:14:04 CAPTION Kevin Zeese Occupy DC Organizer |
Kevin Zeese We also want to show them alternatives to
governance, the general assembly, with its participatory nature, with
listening to everybody's voice, even minority voices get heard, so that the
majority, which is often wrong, can hear a minority perspective and maybe
change its view. |
10:44:29:07 |
Mark
Beissinger There are rules about speaking that are enforced
by, you know, particular people who are trained in mediating this
discourse. |
10:44:37:04 10:44:37:19 CAPTION Lisa Fithian Occupy Wall Street Facilitator |
Lisa Fithian I have not become a
big advocate or fan of how the general assembly process has manifested,
particularly in New York and in fact it's really not even working
anymore. |
10:44:45:11 |
Protest
Organiser Put your finger in the air, put your finger in the
air, we'll be given a chance to speak. |
10:44:50:20 |
Group of
Protesters You'll be given a chance to speak. |
10:44:53:15 |
Protester I'm concerned… |
10:44:54:20 |
Group of
Protesters I'm concerned… |
10:44:56:14 |
Protester That our general
agenda… |
10:45:00:05 |
Group of
Protesters That our general
agenda… |
10:45:01:17 |
Protester Usually takes quite some time. |
10:45:03:10 |
Group of
Protesters Usually takes quite
some time. |
10:45:05:08 |
Protester The working groups… |
10:45:06:13 |
Group of
Protesters The working
groups… |
10:45:07:12 |
Protester Have quite a few important things to get
across. |
10:45:09:19 |
Amin Husain We would have GAs at church and we would have
meetings at E5 and so it was just like you go to work in the morning and you
go straight there. Wow, I do not feel
like going to GA today at all, is this doing anything? |
10:45:23:09 |
Amin Husain
VO The danger is that
people are just trying to do too much and that they're gonna burn themselves
out. |
10:45:31:00 |
Interviewer Like, what's the mechanics, man? What's the day to day of being a leader in
this movement? What you gotta
do? What do you do every day? |
10:45:41:13 |
Aaron Black Well first of all,
I don't like being in this position, it sucks. I wanna go out on the road and take pictures again, but there's
a lot of work to be done and I don't know if I'll ever do that again. I'm on the phone most of the day and
answering emails and settling rifts between different groups and often times
I'm doing 20 things at once and I haven't been home to see my father or my mother
in almost a year and it's hard to have a relationship with somebody. It's a paradox, because on one hand I'm
saying that it sucks, but I think it's the best thing I've ever done and I
love it too. After the eviction I
spent like, the whole winter in an office with 30 or 40 people, trying to
keep this thing alive and we figured out how to organise outside of a
centralised location and we starved and a lot of us didn't have anywhere to
go and, you know, we cried and we comforted one another and, you know, those
guys are my family. |
10:47:09:07 10:47:16:14 CAPTION George Martinez Global Block Foundation Founder |
George
Martinez We find in Occupy that our family can be
involved. For us this is literally
about not only us as individuals, but what will the world for our children
look like? |
10:47:20:01 10:47:33:15 CAPTION Priscilla Grim Occupy Wall Street Organizer |
Priscilla
Grim My relationship
with my daughter for the past year has been really tough. The year prior her father and I split up and
then this started and it was me being away, I mean I thought it was literally
gonna be like a week and I kept telling her ok, next week I'll be done or
next week I'll be done. |
10:47:37:13 |
George
Martinez And early on in the park, in the Zuccotti Park, my
wife and my son came down with me, my son is three years old, what we told
him was that this was the people taking over what's already theirs. |
10:47:51:11 |
Priscilla
Grim She doesn't
like activism right now; she was all for it until it started getting really
messy and we were actually on a march one weekend and almost got corralled by
the cops, her and I. Since then every
time she sees a police vehicle or police person in the subway she gets very jumpy. |
10:48:11:14 |
George
Martinez And then he was in
the video and you know, there's a part where we're singing "I'm
Free," the chorus and we're putting our fists up and it turns out that
so was he in the video and he's putting his little fist up. People say to us when they saw us doing it
like yeah, that was beautiful, your baby was so great and I had no clue. |
10:48:30:15 |
Priscilla
Grim Our friends
were taking care of her, she's doing a lot of overnights during the week
until finally in December her father said to me, you know, maybe it'd be best
if we just switched primary custody for six months or so and so we did that
in December and it's been really hard, because, you know, I'm a mom, she's my kid. |
10:48:56:16 |
George
Martinez The words
"power to the people" to him have a picture in his mind now,
there's a picture of what that means and what that means is that people can
come together, that a lot of people can come together and have fun and share
and have a lot of love in the environment and that in and of itself is power
to the people. Just people sharing
space and love is power to the people in my son's three year old mind. |
10:49:25:06 10:50:05:17 CAPTION Chapter 7: Propaganda War |
Priscilla
Grim I want this world to be better for her when she's
older, but I also don't want her to lose me and both could happen, neither
could happen. I don't know. Right now the only thing she thinks about
Occupy Wall Street is that it took her mom away, so that's hard. |
10:50:12:13 10:50:18:23 CAPTION Lee Camp Comedian |
Priscilla
Grim Corporate media is the devil, because it's only run
by five to six organisations. |
10:50:19:03 10:50:22:19 CAPTION CBS CBS News CBS Sports CBS TV Network CNET Showtime TV.com CBS Radio Inc. CBS Consumer Products CBS Outdoor CW Network Infinity Broadcasting Simon & Schuster Westwood One Radio Network 10:50:25:17 CAPTION Disney ABC Television Disney Publishing ESPN Inc. Disney Channel SOAPnet A&E Lifetime Buena Vista Home Buena Vista Prod Buena Vista Records Disney Records Hollywood Records Miramax Films Touchstone Pictures Walt Disney Pictures Pixar Studios Buena Vista Games Hyperion Books 10:50:27:23 CAPTION NBC Bravo CNBC NBC News MSNFC NBC Sports NEC TV Network Oxygen SciFi Magazine Syfy (Sci Fi Channel) Telemundo USA Network Weather Channel Focus Features NBC Universal TV Dist. Paxson Communications Universal Parks & Resorts Universal Pictures Universal Home Video 10:50:29:21 CAPTION VIACOM Paramount Pictures Paramount Home Ent. BET Comedy Central CMT MTV MTV Canada MTV2 Nick Magazine Nick at Nite Nick Jr. Nickelodeon Noggin Spike TV The Movie Channel TV Land VH1 10:50:31:12 CAPTION Time Warner Cable HEC Time Inc. Turner Broadcasting Warner Bros. CW Network TMZ New Line Cinema Time Warner Cable TBS TNT America Online MapQuest Moviefone Castle Rock Sports Illustrated Fortune Marie Claire People Magazine
|
Lee Camp So you'll have six people essentially, the CEOs of these
corporations, six entities deciding everything we see and hear. |
10:50:32:02 10:50:32:23 CAPTION News Corporation Fox Television Stations The New York Post Battlenet Fox Business Network Fox Kids Europe Fox News Channel Fox Sports Net Fox Television Network FX My Network TV MySpace News Limited News Phoenix InfoNews Channel Phoenix Movies Channel Sky PerfectTV Speed Channel STAR TV India STAR TV Techno STAR World Times Higher Education Times Literary Supplement Times of London 20th Century Fox 20th Century Fox International 20th Century Fox Studios 20th Century Fox Television BSkyB DIRECTTV The Wall Street Journal Fox Broadcasting Company Fox Interactive Media FOXTEL HarperCollins Publications The National Geographic Channel National Rugby League News Interactive News Outdoor Radio Veronica ReganBooks Sky Italia Sky Radio Denmark Sky Radio Germany Sky Radio Netherlands STAR Zondervan 10:50:41:03 CAPTION Chris Hedges Journalist & Author |
Chris Hedges Publications like the New York Times have a kind of
unwritten credo, which is do not significantly alienate those on whom we
depend for money and for access and I worked there for 15 years. |
10:50:44:23 10:50:45:03 CAPTION Tim Pool Livestreamer |
Tim Pool You have, you know,
in some instances MSNBC being way too nice.
|
10:50:51:22 |
Newsreader Our history as a country founded by and invigorated
by and reinvigorated by protest. |
10:50:57:04 |
Tim Pool And then you have
Fox News saying they're a bunch of crazy drug addicts doing ridiculous
things. |
10:51:02:19 |
Newsreader Big government anarchists. |
10:51:03:23 |
Newsreader Spitting on a woman in a coastguard uniform. |
10:51:06:01 |
Newsreader They even have ties to terror groups. |
10:51:08:01 |
Tim Pool It's really just
people, you know, there's a bunch of different kinds of people, good, bad,
you know, whatever. |
10:51:13:20 10:51:20:16 CAPTION On January 18, 2012, a wave of online protests occurred against SOPA - the Stop Online Piracy Act 10:51:24:23 CAPTION The story dominated the airwaves. 10:51:29:06 CAPTION Yet in the months before the SOPA protest, there was a media blackout. 10:51:33:00 CAPTION TV News Segments of SOPA VS Other TV News Segments October 26 - January 12 MSNBC, Fox News, ABC, CBS, NBC, CNN 10:51:38:22 GRAPHICS ON SCREEN Graph of News Segments |
Chris Hedges But generally
it's what they don't tell you and this is especially true on the airwaves,
where news is only judged for its entertainment
value. |
10:51:42:12 |
Newsreader Catherine, Duchess of Cambridge, gave her first
public address as a royal today. |
10:51:47:20 |
Man in Shop Everybody at the
wedding will be wearing a hat. |
10:51:50:04 |
Lady in Shop Everyone wears a
hat. |
10:51:51:08 |
Man in Shop You have to wear a
hat. |
10:51:54:07 |
Newsreader My goodness, have you watched the video yet on
YouTube? Unbelievable. |
10:51:58:23 |
Newsreader I'm extremely excited that I'll be able to Skype. |
10:52:02:18 |
Newsreader Mine, mine, mine, that is Casey Anthony. |
10:52:08:06 |
Newsreader Well Kim and Kris fought over just about everything
from a naked yoga instructor in their apartment to Kris' clothes being all
over the floor, that fight led to a ripped toenail. |
10:52:17:16 |
Kim
Kardashian He fell in love
with me and I fell in love with him and now my feelings have changed. At 30 years old I thought I'd be married
with kids and I'm not. |
10:52:31:21 10:52:34:00 CAPTION Noam Chomsky Philosopher |
Noam Chomsky
The media has concocted the illusions which are
indescribable. |
10:52:40:00 10:52:43:04 CAPTION Comel West Philosopher |
Comel West Kim Kardashian's,
they do sell, these things generate tremendous attention, tremendous
titillation, tremendous stimulation, tremendous distraction, but generate big
cash. |
10:52:53:09 10:52:53:08 CAPTION Michael Levitin Occupied Wall Street Journal Co-Editor |
Michael
Levitin They are the same
channels that have the interests of not changing our system and the same Wall
Street interests that elect our government, our presidents, our congressmen,
that write our laws are the same ones that run our media. |
10:53:04:15 |
Douglas
Rushkoff Well, Erin was on the opening night of her show out
front, you know, she's from the banking community, that's her world. |
10:53:11:22 |
Erin That's down 110,
your financials are obviously leading it, utilities are down, transports are
down, drugs are down, retailers are down.
|
10:53:17:16 10:53:18:04 CAPTION Douglas Rushkoff Media Theory |
Douglas
Rushkoff Understandably she looks at Occupy movement as a
bunch of wealthy, angry children complaining about all these bankers and
people who are trying to do right by them.
|
10:53:30:08 |
Erin Seriously? The Occupy Wall Street protest entered its
third week today, but what are they protesting? Nobody seems to know, so this afternoon we went to Wall Street
to find out. |
10:53:41:22 |
Man with
Dreadlocks The media that we're used to being indoctrinated
with uses techniques. |
10:53:47:17 |
Douglas
Rushkoff And they start
looking for what they consider to be inconsistency. |
10:53:51:10 10:53:51:01 CAPTION Jesse LaGreca Occupy Wall Street Journalist |
Jesse
LaGreca What they do
for the first question is to set you up. |
10:53:53:11 |
Erin What do you do for
a living? |
10:53:54:23 |
Software
Developer I'm a software
developer. |
10:53:56:09 |
Erin Software developer,
so currently employed or unemployed? |
10:53:58:15 |
Software
Developer Unemployed. Funemployed, we like to call it. |
10:54:01:18 |
Jesse
LaGreca The second question is to make you look bad. |
10:54:03:21 |
Erin So do you know that taxpayers actually made money on the
Wall Street bailout? |
10:54:07:06 |
Software
Developer I was unaware of
that. |
10:54:08:22 |
Jesse
LaGreca And the third question is to blame democrats. |
10:54:10:19 |
Erin In fact, the only
reason we haven't made all the money back is actually GM. |
10:54:14:01 |
Douglas
Rushkoff Which isn't
true. She was running around to
people saying "do you know that the bailout was paid back?" and
kids will go no idea, see. |
10:54:20:23 |
Erin Seriously? That's all it would take to put an end to
the unrest? |
10:54:25:04 10:54:42:02 CAPTION Justin Wedes Occupy Wall Street Media |
Justin Wedes The mainstream
media represents the largest distraction from the real issues in our country
that exist today. They've prewritten
the fate of Occupy. In their book
it's all done and it's not going to be depicted the way that it needs to be
depicted if we rely upon those old institutions, those old structures,
they're not going to inform people in the way that we need them to. So we build our own. |
10:54:52:22 |
Vlad
Teichberg What we are trying to do globally I think is empower
the citizens to become journalists just using their cell phones and are
training people how to take that immediate real time narrative from the
streets and explain it and the people who know how to explain it are going to
be able to speak to the whole world. |
10:55:09:18 |
Tim Pool So this is my light
setup, I have a heavy, I have a medium and I have a light setup. Our live streaming is pretty simple. The simplest way to put it is I take my
phone, I download the uStream mobile app, you know, you sign in to your
account and then you literally press play as if you're recording on your
phone normally, but it uses your data service to send the video over the
internet to anybody who wants to watch it.
|
10:55:35:14 |
Tim Pool So this is pretty
much just I've got a threaded cable to my phone. |
10:55:40:03 |
Vlad
Teichberg The big limit for
streaming is that the batteries in the phones are very small, so if they
stream for like, one hour your phone is dead, so people usually have these
little things attached to give them like, five or six hours for
streaming. |
10:55:50:12 |
Tim Pool And then I use an
external battery, it's a USB energiser deal that keeps everything going. This is a defender case, this is the case
that I had when I was attacked. |
10:56:01:06 |
Protester Turn off the camera or you'll loose your fucking
camera. |
10:56:06:24 |
Tim Pool You guys are
attacking me right now. |
10:56:08:16 |
Protester I'm not attacking shit. |
10:56:09:21 |
Tim Pool Dude, stop
advancing on me. |
10:56:11:07 |
Tim Pool They come at me,
one guy puts his, you know, hands at my face, one person swings at me, hits
my hand and I'm backing up the whole time.
|
10:56:19:19 |
Protester Put your fucking camera away, put your fucking
camera away, get the fuck out of here.
|
10:56:23:18 |
Tim Pool When I thought, you
know, this is one of the only windows into what's actually happening right
now and because these four people want to air out some tyres they think the
world should not know what's about to happen, you'll get some kind of death
threat and then I've gotten the veiled Mafioso threats like hey, yeah, like
what you're doing, you might wanna consider getting some protection for this
next action I'm gonna be at, you know what I'm saying? And I'm like uh huh. But I'm not worried about it. |
10:56:48:10 |
Newsreader And all night last
night we heard from dozens of protesters and independent journalists about
raids and traffic stops taking place across this city. Now, that kind of allegation is hard for
us to confirm unless or until we see the kind of video that came into us from
around two this morning. |
10:57:10:05 |
Police
Officer Hands off, fucking
hands. |
10:57:12:05 |
Tim Pool We're being raided
right now, for those that are watching we are being raided by the CPD as we
speak. |
10:57:16:12 |
Tim Pool The car pulled out
of nowhere from behind us, the unmarked Convictoria, grey cut us off and
we're surrounded by 12 cars. |
10:57:24:15 |
Tim Pool What is this for,
officer? What is this for? |
10:57:27:19 |
Tim Pool And we were
interrogated, car numbers were taken down, they banged our hard drives
against the ground. |
10:57:34:23 |
Newsreader We contacted CPD about this incident, but we've not
yet heard back. Danielle and Stefan,
back to you. |
10:57:40:10 10:58:06:05 CAPTION Chapter 8: Diversity of Tactics |
Vlad
Teichberg It makes it harder
for them to lie, because every time now they're lying about what happened it
becomes very easy to say "oh, you're right." Basically we're creating an object that
uses everything the movement's creating, so to speak, to fight the propaganda
war. |
10:58:30:01 10:58:31:14 CAPTION MAY DAY May 01 2012 International Worker's Day |
Tim Pool May Day was pretty intense, I had no idea what was
gonna happen. There was a lot of
suspense building up to it, you know, people were worried, they're talking
about the wild cat march and that there's gonna be, you know, people thought
it was gonna be a lot of chaos. |
10:58:46:17 |
Newsreader Police say if you can avoid downtown Seattle and
Portland you should. |
10:58:51:07 |
Newsreader We were warned that May Day protests could spin out
of control today and that is exactly what happened. |
10:58:56:14 10:58:57:10 CAPTION Seattle, May Day |
Newsreader We got there in time to see flares thrown up onto
an upper tier and then rocks thrown at the big Nike windows. The panes came down. |
10:59:03:15 |
Newsreader Wells Fargo downtown sustained severe damage,
windows shattered, glass showering upon the crowd. Police finally arrive, self proclaimed superhero Phoenix Jones
tries to calm the crowd. |
10:59:15:23 |
Newsreader Published reports indicate the Black Bloc worldwide
is synonymous with what many also called anarchists, that it is not an
organisation, but a tactic. |
10:59:25:24 10:59:32:15 CAPTION Andy Bichlbaum Yes Men |
Andy
Bichlbaum There's a moment when a lot of people in Occupy
were debating, you know, non-violence versus diversity of tactics, whether it
was ok to break a window every once in a while, it started getting really
over intellectual. |
10:59:39:14 10:59:39:22 CAPTION Chris Hedges Journalist & Author |
Chris Hedges I wrote a
column that called the Black Bloc the cancer of the Occupy movement, because
the power of the Occupy movement is precisely that it is a mainstream movement. |
10:59:59:04 |
Chris Hedges The tactics of the Black Bloc, because it embraces
petty vandalism and taunting the police, are not palatable within the
mainstream and are gift therefore to the security and surveillance
state. |
11:00:13:15 |
Interviewee I don't even know what to say, I don't even know
what the protests are for, it's stupid.
|
11:00:17:13 |
Interviewee I think it's crazy, I think it's insane, like
everybody who probably did it had a pair of Nikes on. |
11:00:23:02 11:00:27:13 CAPTION New York, May Day |
Chris Hedges And I think taunting the police is very
short-sighted. |
11:00:34:22 |
Tim Pool The biggest threat to the Occupy movement in my
opinion would be the inability to reconcile the reformists with the
revolutionaries and, you know, there's been an ongoing debate about the
diversity of tactics. You have the
revolutionaries who think… |
11:00:50:22 11:00:51:13 CAPTION Amin Husain Occupy Wall Street Theory |
Amin Husain The diversity of
tactics is necessary to maintain the broad coalition that Occupy has to have
to be successful. |
11:00:58:07 |
Tim Pool You have the
reformists who actually make up the majority who think… |
11:01:01:12 11:01:05:01 CAPTION Kevin Zeese Occupy DC Organizer |
Kevin Zeese If your goal is for mass movement you wanna do
things that pull people toward you.
The problem with breaking windows and looking for conflicts with the
police is that does the opposite, it pushes people away. |
11:01:11:20 |
Tim Pool You know, the
revolutionary faction is the one that kept the movement going, but the
reformist is the one that makes the movement large and so they need to come
together and find a way to work together.
|
11:01:25:08 |
Nicole Carty
VO The May Day march in Bryant Park was at the same time as
the wealth cat march. |
11:01:31:08 11:01:32:00 CAPTION Bryant Park Lisa & Nicole's March |
Lisa Fithian
VO It was a rainy morning, we weren't sure what it
was, we grew slowly, slowly, but yeah, when we rolled out at two o' clock I
think we were close to three, four, 5,000 strong. |
11:01:41:11 11:01:42:07 CAPTION Nicole Carty Occupy Wall Street Organizer |
Nicole Carty My group actually
got saddled with leading that march.
Our plan was just to go on the sidewalk and just do an march that was
very low risk and, you know, family friendly and everything, there was like,
this leaked communicate that the police department had sent out, they were
really worried about this wildcat march and so there was like a predicted
huge mobilisation for it and so I think that pulled a lot of the cops. |
11:02:10:10 11:02:10:12 CAPTION Lisa Fithian Occupy Wall Street Facilitator |
Lisa Fithian
We did a fabulous march from Bryan Park down to
Madison Square Park when the police were like, you know, you have to stay on
the sidewalk, which was really putting, you know, pedestrians in a hard
place, because if you're trying to run thousands of people down a sidewalk
it's not safe and the police refused and ultimately the people just couldn't
be contained and ultimately took the lane and all of Fifth Avenue. |
11:02:31:16 |
Nicole Carty Lisa Fithian comes
running up to me and she's like, just so you know, like, the whole middle of
the march has taken the street and we're like, ok, alright. |
11:02:41:15 |
Nicole Carty Thinking tactically
about what it takes to take this street and where in the march that should
come from, we've gotten better about that.
Usually you'll have the front of the march take the street and then
you have the cops that are always there.
|
11:02:58:03 |
Nicole Carty So having it come
from the middle, where they are usually thin was just the way to go. |
11:03:19:02 |
Lisa Fithian You know, it was
this beautiful cacophony of resistance that was room for lots of stuff. |
11:03:24:04 |
Nicole Carty It was
beautiful. The wildcat march I heard
was in the press, so I think it's kind of a combination of the wildcat march
happening and also practice and, you know, evolution of our tactics. |
11:03:36:01 |
Tim Pool You know, on May
Day we found the wildcat, there was a little bit of paint drawn on cop cars,
a couple of garbage cans, it was a hostile aesthetic, if you will, but there
was definitely no secret vandalism, they agreed, they said no windows, that
was the first thing they all agreed on, they said no windows. |
11:03:51:20 |
Interviewer If the Black Bloc, you know, pulled that back do
you think that they could be rehabilitated as an ally of Occupy? |
11:04:01:01 |
Chris Hedges I think the
secret of the success of Occupy, as Lisa Fithian and others have pointed out,
is this one, transparency, which means don't cover your face and two,
non-violence and if there are Black Bloc elements that can live with that
there's certainly room for that. |
11:04:23:17 |
Interviewer Did you read Chris Hedges' article on Black Bloc? |
11:04:26:03 11:04:28:06 CAPTION George Machado Occupy Wall Street Organizer |
George
Machado I did, I did read
Chris Hedges' article on Black Bloc. |
11:04:31:21 |
Interviewer What did you think of it? |
11:04:33:12 |
George
Machado It frustrates me,
honestly. |
11:04:36:15 |
Interviewer Just one sec.
Are they coming this way?
Sorry man, just one sec. |
11:05:06:14 |
Chris Hedges Well, the single biggest threat to Occupy is
without question the security surveillance state. |
11:05:30:01 |
Newsreader In these stage demonstrations, the men dressed in
black will typify hardcore professional agitators. |
11:05:39:10 |
Protestor They don't tell me what to do, man, I'm a civilian,
you get that? |
11:05:41:10 |
Newsreader When the group refuses to disband, action must be
taken. Note that the reinforcements
approach in formation, organised, in tact and formidable. |
11:05:51:24 |
Newsreader Since the people have no real interest or
involvement in the issue they fade away quickly, depriving the agitators of
their most valuable weapon, the crowd.
|
11:06:01:11 |
Chris Hedges Well the power lead
has always attempted to crush movements, anything that threatens their
ability to dominate both political and economic systems. |
11:06:11:18 |
Newsreader Fire extinguisher can be utilised when men and
equipment are in short supply. Spread
on a corridor floor the foam or a substitute high concentration of soap suds
can work wonders, watch. |
11:06:27:12 |
Newsreader For the problem of an aroused, belligerent mob a
riot control agent is a practical, humane solution. A disperser provides the wider coverage necessary for such a
large group. |
11:06:46:04 |
Chris Hedges We've seen externally the resources that they have
employed to physically eradicate the cameras. What we don't see are the massive internal effort that they are
making to subvert and destroy the movement and I think sometimes the Occupy
people are a little naïve about what they're up against. |
11:07:02:16 11:07:02:13 CAPTION Aaron Black Occupy Wall Street Organizer |
Aaron Black And those of you listening on the phone that don't like
what I'm doing you can go fuck yourselves, but what are you… yeah, my phone's
being tapped too, by the way. |
11:07:14:10 |
Chris Hedges There's been a steady erosion under the Obama
administration of basic civil liberties, they've created all sorts of
mechanisms to shut out all but the elite, whether that is the FISA amendment
act, a warnless wiretapping, monitoring and eavesdropping of tens of millions
of American citizens, whether that is the refusal to shutter Guantanamo and
end our offshore penal colonies, whether that is the decision to serve as
judge, jury and executioner and order the assassination of American citizens,
such as we saw with the [UNSURE OF WORD].
|
11:07:54:12 11:07:54:14 CAPTION National Defense Authorization Act December 31, 2011 |
Chris Hedges
VO And of course the national Defense Authorisation
Act, signed on December 31st 2011, which section 1021 and section 1022 permit
the US Government to hold or seize an American citizen. |
11:08:08:05 |
Cornel West Can be detained without due process, can be
detained without judicial process and in fact can also be assassinated. |
11:08:17:13 |
Chris Hedges
OV Someone who substantially supports, whatever that
means, al-Qaeda, the Taliban or something called associated forces. |
11:08:26:09 |
Man in Red
Jumper And there is the problem, it says "associated
forces", what does that mean? |
11:08:31:12 |
Kevin Zeese It also talks abut what actions would be deemed a
threat and one of the words they use is belligerence, belligerence? I mean, I get belligerent when I'm at a
traffic light I got stopped at. |
11:08:43:23 |
Chris Hedges To hold those people in military facilities until,
in the language of the bill, the end of hostilities, which in an age of
permanent war is forever. You don't
wanna hand that kind of power to the state, because eventually they'll use
it. |
11:08:57:01 11:08:56:17 CAPTION CHRISTOPHER HEDGES - v - BARACK OBAMA |
Moore Chris Hedges brought a complaint, it's really a
suit against the federal government. |
11:09:01:13 |
Chris Hedges I sued Barack Obama and [UNSURE OF WORD], I had a
trial in a federal court. |
11:09:06:13 |
Man in Red
Jumper Chris' situations
are unique, because he's a columnist writer, he's travelled all over the
world. |
11:09:11:20 |
Kevin Zeese He has actually dealt with al-Qaeda, dealt with
what are labelled terrorist groups, so he would fit perfectly with the kind
of person who could be challenged by this.
|
11:09:21:06 |
Chris Hedges You know, I'm not naïve about the corporate
dominance of the judiciary, especially the supreme court, but I think that,
you know, we shouldn't take pieces of legislation like this lying down. |
11:09:34:14 11:09:35:14 CAPTION CHRISTOPHER HEDGES defeats BARACK OBAMA |
Newsreader A federal judge Wednesday struck down part of a
controversial law signed by Barack Obama that gave the government the power
to indefinitely detain anyone it considers a terrorism suspect, including US
Citizens. Judge Catherine Forest of
the Southern District of New York struck down the indefinite detention
provision, saying it likely violates the first and fifth amendments of US
citizens. |
11:09:55:22 |
Newsreader And five times Judge Forest asked the US Attorney,
"will you agree that first amendment activates will not bring someone
under the scope of this law?" and the government five times said
"we can't answer that question."
|
11:10:06:21 |
Newsreader What is the significance of this judge's
ruling? |
11:10:10:10 11:10:26:01 CAPTION Chapter 9: Death by Complexity |
Chris Hedges Well, it in essence invalidates that provision,
section 1021, so it's monumental, because she threw the whole thing out. |
11:10:31:23 |
Robert Monks Well I always fantasised and said if I were him,
what would I do? And he comes in and
there's an enormously collapsing situation and the difficulty is that it
appears as if this is a system that can break and nobody really knows what to
do not to have it break, but you know if you break it you're gonna have a
wasteland. |
11:11:00:24 |
Richard
Parker Wall Street now lives in complexity and hides
behind complexity and is in fact undone by complexity. I mean, I don’t think that any of these
big banks wanted to go through the last four years. They have fought their way through, they've fought ferociously
like Spartan warriors, but none of them wanted this experience. |
11:11:21:23 |
Reggie
Middleton How do you make
that complexity? It's my opinion that
you cannot successfully regulate complexity, because you have financial
engineers whose sole job is to work around regulation. |
11:11:31:21 |
Man in Blue
Shirt And so often times policy makers don't understand
the markets that they're trying to regulate.
|
11:11:38:18 |
VO One of the things that happens in financial markets
is that they're so interconnected that oftentimes we don't know who is on
which side of which trade and so the impacts of a faulty product are not just
between me and the person who sold it to me, but they might be between me and
someone else that I've transacted with and the people that they've transacted
with. |
11:12:03:04 |
VO The fact of the matter is those instruments are
very complicated and it's the case that neither the purchaser nor the seller
truly understands what's in them to the degree that prudent judgement would
expect. |
11:12:17:14 11:12:29:13 CAPTION WHAT IS A DERIVATIVE?
|
Man in Blue
Shirt They're developed in many cases not to be
transparent, yet, you know, regulators have to understand them well enough to
know when they're making a valuable contribution to the economy and at which
point they get dangerous. |
11:12:30:19 11:12:37:19 CAPTION DERIVATIVE 11:12:40:10 CAPTION 1972 11:12:52:15 CAPTION WHAT MAKES DERIVATIVES BAD?
11:13:06:23 CAPTION 4th Derivative of: 11:13:37:10 CAPTION WHO TRADES DERIVATIVES?
|
Reggie
Middleton A derivative is an
instrument that derives its value from something else. For instance, the dollar bill was a
derivative up until 1972, '73. If you
take a dollar and say a dollar's backed by 1/8th of an ounce or a 16th of an
ounce of gold, you know, it's a very simple formula, you know one
correlation, easy for everyone to understand. But what makes derivative a bad thing is once you start making
contents with derivatives you start losing the ability to value derivatives,
ok. If you change this derivative and
say a dollar is based upon the 4th derivative of some complex formula based
on the colour of the book bag behind you, only if the colour of the book bag
behind you matches the colour of the book bag on the guy sitting in the
corner of 42nd street who won't tell you his name, because it's a proprietary
formula and then that is based upon 1/5th the value of gold, as long as the
value of gold is the average of gold sold in 15 countries, of which we're
only going to reveal four of those countries, because the other 11 countries
are a part of our proprietary formula.
|
11:13:38:23 11:13:40:08 CAPTION 96% |
Reggie
Middleton In the US 96 percent of the derivative market is
shared between five individual entities, five banks. 96 percent of the risk and they do
business the exact same way, with each other. |
11:13:51:05 |
Interviewer What banks?
|
11:13:52:17 11:14:11:20 CAPTION To simplify the derivatives market, the Obama government introduced the Dodd-Frank Act 11:14:18:08 CAPTION It is 848 pages long |
Reggie
Middleton JP Morgan,
Citibank, Morgan Stanley, Goldman Sachs and Bank of America. So that's the biggest problem with
derivatives, ok, complexity and a lack of transparency in reporting. |
11:14:23:20 |
Richard
Parker The reforms under Dodd-Frank themselves have
oftentimes been so complex that their complexity will provide a legal defence
for those who don't abide by them, which is surely what will happen when the
next meltdown comes. |
11:14:42:13 |
Man in Blue
Shirt As we've already seen with the major losses at JP
Morgan, where they were attempting to comply with parts of Dodd-Frank, yet
they were still able to lose $2 billion in a very quiet market. |
11:14:58:17 |
Newsreader We learned on Thursday that JP Morgan Chase lost $2
billion, that's billion with a B from the derivatives trading desk. |
11:15:05:21 |
Newsreader It was a shocking announcement from JP Morgan
Chase, the United States' largest bank based on assets. |
11:15:12:09 |
Newsreader Several news reports today also reveal that the FBI
and the justice department are beginning their own investigations. |
11:15:18:22 11:15:27:18 CAPTION Emergency conference call between Jamie Dimon and shareholders |
Dawn Kopecki
Generally when the department of justice and FBI
gets involved it's generally because they suspect there's some sort of cover
up going on. |
11:15:27:23 |
Jamie Dimon Regarding what happened, the synthetic credit
portfolio was a strategy to head the firm's overall credit exposure, which is
our largest risk overall in a stress credit environment. We We're reducing that hedge, but in
hindsight the new strategy was flawed, complex and poorly monitored. It could cost us as much as a billion
dollars or more. |
11:15:46:24 |
Man in
Conference Call Just in real simple
terms, in six weeks you lost $2 billion, as simple as you can explain it,
what went wrong? |
11:15:54:24 11:16:07:19 CAPTION in the following weeks, the derivatives did more damage to JP Morgan 11:16:32:23 CAPTION CEO Jamie Dimon was summoned to explain the huge derivatives losses 11:16:45:18 CAPTION May 10 2012 Washington DC |
Jamie Dimon You already mentioned there's huge moves in the
marketplace, these are complex, we made these positions more complex and I
can repeat it 800 times, I'm not gonna get into more specifics than
that. 11:16:57:18 SUBTITLE: Mr Dimon |
11:16:57:11 |
Deborah
Harris Mr Dimon, I was doing the paramedic for the fire
department for 23 years, my name is Deborah Harris and you stole my house
from underneath me. Why don't you face the people that you foreclosed
on? Stop foreclosures now. Stop foreclosures now! You can gamble and lie like hell with 2
billion dollars and you can't give her a modification Dimon? There's your day coming. Stop foreclosures now. 11:16:59:06 SUBTITLE: I was doing the paramedic for the fire department for 23 years 11:17:02:03 SUBTITLE: My name is Deborah Harris 11:17:03:14 SUBTITLE: and you stole my house from underneath me 11:17:05:17 SUBTITLE: Why don't you face the people that you foreclosed on? 11:17:08:22 SUBTITLE: Stop foreclosures now! 11:17:10:16 SUBTITLE: Stop foreclosures now! 11:17:12:17 SUBTITLE: You can gamble and lie like hell with 2 billion dollars 11:17:15:06 SUBTITLE: and you can't give her a modification Dimon? 11:17:17:19 SUBTITLE: There's your day coming 11:17:23:02 SUBTITLE: Give Deborah her home back Dimon |
11:17:23:09 11:17:33:04 CAPTION Deborah went to jail for the day 11:17:38:01 CAPTION Jamie did not |
Man in Court
Give Deborah her home back, Dimon. She is a paramedic, she spent 23 years
saving lives. Stop foreclosures
now. 11:17:25:03 SUBTITLE: She is a paramedic 11:17:26:20 SUBTITLE: She spent 23 years saving lives 11:17:42:08 SUBTITLE: There's a day coming |
11:17:42:10 |
Man in Court
There's a day coming. |
11:17:44:04 11:17:52:05 CAPTION Epilogue: When Dissent is Duty |
Jamie Dimon We'll see. |
11:17:58:09 |
Comel West Jesus made his way to Jerusalem, ran out the money
changers and said "you will not make this house of prayer a den of
thieves." |
11:18:09:23 |
Man in Red
Jumper Jesus confronted the Pharisees, who were the
lawgivers that kept everything in order all along the way. |
11:18:18:19 |
Comel West He was going up against not just organised
religion, at that time the temple represented Wall Street, Hollywood, White
House and Congress, because they were all together. |
11:18:26:13 |
Man in Red
Jumper The system itself, when it makes a fetish of its
own existence, that's an idolatry and that's what's happened in the corporate
life today. |
11:18:35:03 |
Comel West So when he ran out the money changers they were all
tied to those elite institutions, so you knew he was going to the cross. |
11:18:42:07 |
Man in Suit One of my favourite quotes is a quote by Gandhi,
where he says "I like your Christ, I do not like your Christians, they
are so unlike your Christ." |
11:18:53:09 |
Stephen
Squibb All that we are, including our rights, everything
that we cherish, everything that we privilege, everything that we like best
in ourselves has its origins in dissent.
|
11:19:06:03 |
VO The long history of
the United States has been a struggle on the part of populist movements to
widen the space within the democracy. |
11:19:14:18 |
VO When the United States was founded it was founded
by people who were being occupied.
The founders were essentially insurgents. |
11:19:20:13 |
VO Right, the Declaration of Independence is what I
like to call the founding document of American protest literature, it's the
first act of dissent that created the nation. |
11:19:28:15 |
Lisa Fithian All of the rights, all the privileges, everything
we have was never given to us, people had to fight for it. |
11:19:36:14 |
Comel West And yet, you know, as we know it, it is oftentimes
the case that people are fearful of those who are visionary and
courageous. |
11:19:46:08 11:20:04:08 CAPTION April 4 1968 |
Comel West I think occupy
is the most significant social effort to build on Martin King's poor people's
campaign, which was a massive sit in, in Washington DC. Now, he was able to execute it, because he
was assassinated.
|
11:20:06:07 |
Newsreader Good evening, Dr Martin Luther King, the apostle of
non-violence in the civil rights movement has been shot to death in Memphis,
Tennessee. Dr King was standing on
the balcony of his second floor hotel room tonight when, according to a
companion, a shot was fired from across the street. In the friend's words, "the bullet exploded in his
face." |
11:20:28:02 |
Noam Chomsky
In fact, he did have dream, he talked about it in his last speech in Memphis,
Tennessee the evening before he was assassinated and his dream was, he said… |
11:20:42:18 |
Martin
Luther King (Archive) I just wanna do
God's will. And he has allowed me to
go up to the mountain and I've looked over and I see the promise lands. I may not get there with you, but I want
you to know the night that we as a people will get to the promise land. |
11:21:12:23 |
Martin
Luther King (Archive) So I'm happy
tonight, I'm not worried about anything, I'm not fearing any man. My eyes have seen the glory of the coming
of the lord. |
11:21:26:10 11:21:37:24 CAPTION Resurrection City May 12 1968 |
Noam Chomsky He was killed, the
march took place after his death from Memphis, it was led by Coretta King,
his wife, set up at Tent City in Washington, Resurrection City, it was
called. |
11:21:40:11 |
Comel West Martin knew that if he could bring those folk to
Washington DC and engage in a dramatic action of staying there and maybe even
shutting the city down for a day or two there had to be a public conversation
about the rich humanity and dignity of poor people. |
11:22:02:01 |
Coretta King
(Archive) This is the last chance, I think, for this country
to respond to the quiet and peaceful petitions of people who are asking for
very, very just solutions to very, very real problems. |
11:22:13:10 |
Man in
Protest (Archive) We are gonna plague the [UNSURE OF WORD] of this
nation with plague after plague until they decide to give us some meaningful
jobs and a guaranteed annual income. |
11:22:29:04 |
VO They sent the security forces in, smashed up the
Tent City, drove them out of town.
They had to flee Washington. |
11:22:36:23 |
Lady in
White Top It is working down in Resurrection City and please
listen to that, that beautiful thing down there is just the top of a movement
that stretches from coast to coast. |
11:22:58:14 |
VO People have to think of the story of the monarch
butterfly. The monarch butterfly
flies from Mexico all the way up north to Canada or Alaska. |
11:23:11:19 |
VO A butterfly that starts the journey is not the same
butterfly that ends the journey. In
fact, there are generations of butterflies that complete the journey, I think
that's what we do with social change.
Our role is to move social change forward. We may not get to Alaska or Canada, but we make it possible for
others to get there too and that's what we should be about. |
11:23:48:14 END CREDITS: written,
directed & produced by Corey Ogilvie produced by Andrew
Halliwell co-producer Liam Leahy associate
producer Jeffrey Van
Rens music composed
by Andrew
Halliwell cinematography
& editing by Corey Ogilvie additional
cinematography by Liam Leahy Iva
Radivojevic Martyna
Starosta Anna Leah
Jacobson David Sauvage Dennis Tralnor
Jr cartoon
animations Simon
Streatfield Infographic
segments by Bran
Dougherty-Johnson Executive
Producer Corey Ogilvie CAST Aaron Black Anim Husain Andy Biclebaum Comel West Chris Hedges Douglas
Rushkoff Eli Feghali George Machido
George
Martinez Gideon Oliver Jen Waller Kesse LaGreca Justin Wedes Kalle Lasn Kevin Zeese Lee Camp Margaret
Flowers Marianne
LeNabat Mark Adams Mark
Beissinger Mattathias Schwartz Michael
Levelin Michael Preno Nathan
Schneider Nicole Carty Noam Chomsky Nolan McCarty Pete Dutro Priscilla Gryn Reggie
Middleton Richard Parker Robert Monks 'Sam' Sandy Nurse Stephen Squibb Stuart
Applebaum Tim McCarthy Tim Pool Vlad Teichberg 2nd Unit
Cinematographers Liam Leahy Anna Leah
Jacobson Additional
Cinematographers Syd Woodward Dennis Trainor
Jr. Casey Neistat David Sauvage Iva Radivovic Marlyna
Staresta Mary Notari NewYorkRawVideos Luke Radkowski Additional
Research & Archival Acquisition Jeffrey van
Rens Casino Footage
courtesy of Juan
Riedinger, director, "Shark Out of Water" Strangeways
Media and Made in the Shade Productions © 2009 Butterfly
Footage Provided by John Pascuzzi
of HapiTones Location Sound
Mixers Andrew Halliwell Colorist Achim Kapitza Color
Correction Supervisors Todd Garous Carey Dickson Sound Design
& Final Mix Keith White Producer's
Assistant Tina Aslanyan Web
Development Strangeways
Media Clearance
Counsel Lisa Callif,
Esq. Michael Denaldsen,
Esq. Callif &
Donaldson Production
Counsel Aaron Altman,
Esq. Citizen
Journalists Tina Poul StruggleVideoMedia
(youtube username) anhurkr222
(youtube username) StephenHannardADGUK
(youtube username) 12160info
(youtube username) adamsjonathn30
(youtube username) WhereisZEMBLA
(youtube username) Joseph Finton SocialMediaChimps
(youtube username) jamieinpictures
(youtube username) thleenzo
(youtube username) O4ONY (youtube
username) SaveLibya
(youtube username) MrSteeper33
(youtube username) THEDUMBPLANET
(youtube username) MrThezxz
(youtube username) MaghnaKhana
(youtube username) Elaisha Stokes Robert Strype Austin Hill NakedEyeFilms
(youtube username) Crowd-funding
Supporters Andrew Peacock Joseph
Henderson Janie Della Ryan Cowie thenuskrat69 (IndieGoGo
user) Yann Lallenant danil3
(IndieGoGo user) Marcie Monroe Bobbie
Countryman (IndieGoGo user) eatingoatmeal2
(IndieGoGo user) Mark Horowitz Bran
Dougherty-Johnson Dan Marker James Bell Vincent Verzat Dave
Caykendall June hunt John &
Carol Halliwell Special Thanks
to: Nicole &
Tom Maertens Barbara
Gabriel at CUNY David Savage
of Occupy.com Michael
Parsons Elisa John &
Carol Halliwell Sarah &
Todd Gerecke Syd Woodward Archival Video
Footage Courtesy of: Greenpeace
Canada Roland Faust
of Wierdo Video CSPAN CNN Associated
Press Gettys Reuters RT News MSNBC PBS FOX CBS CNBC Bloomberg News Federal
Reserve Democracy Now MM Flint
YoutubeChannel Rush Limpaugh
Show The Young
Turks / Current TV The Beast News ABC HLN Prime News NBC NWCN Seattle King 5 news
Seattle Kiro News
Seattle US ARMY video
archives Al Jazera Sam Seder -
Radio Majority Report - Majority.fm Archival
Photographs Courtesy of: Getty Images David
Shankbone Kevin Lamarque
/ Reuters Daniel Aguilar
/ Reuters Roger L.
Wollbenberg / UPI J. Scott
Applewhite / AP Vivyan Tran /
Reuters Win McNamee /
Getty Images AFP Photo /
Karen Bleier Amanda Gordon
/ Bloomberg Lukas
Keapproth /Wisconsin Center for Investigative Journalism Jule Skarralt Muhammad
ud-Deen Lt. Col.
Leslie Pratt / Air Force Mark Wilson /
Getty Images Pete Souza /
The Official White House Photostream Chip
Somodevilla / Getty Images News Additional
Music Credits Sturnum (Kein
Wort)' performed by Frank Brettschneider, written by
Yolker Bertdmann, published by
La Chunga Music Publishing © 2012 Karaoke
Kalk 'Talk Radio',
performed by Jason Collett, written and
composed by Jason Collett published by
Arts & Crafts © 2012 'Birds Fly by
Flapping Their Wings', 'Dissolving Clouds', 'Uva Ursi',
'The Club', performed and written by Biosphere, published by
Touch Music Publishing (UK). © 2012 Touch Cotom', Sous
Marin', 'Bidec, 'Subaquatic', 'Resurgence',
'Wandless', and 'Status from album 'Stasus', performed by
Loscil, published via netlabel under
creative commons, permission acquired from
Scott Morgan composer. 'Folie a
Deaux' & 'Odd From Every Angle', performed by
Tipper, written and composed by Dave Tipper, published by
Dave Tipper Publishing c/o ASCAP © 2012 'Diverse
Tactics', custom song by Crispin Hars of Lionshead
Entertainment Inc © 2012 'Upward
Beat', custom song by Ian Somers of
Ian Somers Music © 2012 Post
Production Facility Robot
Post Robot
Post logo Ogilvie
Film © 2012 All
rights reserved |