In Debt We Trust

Former ABC News and CNN producer turned muckraking documentary filmmaker Danny Schechter (WMD: Weapons of Mass Deception [VL-5/05]) here looks at the subject of burgeoning American consumer debt in the form of credit cards and other loan products, a situation that has become increasingly grim for those trying to dig their way out of the financial hole (and it's not just the lower-waged working class who are affected—Lorraine Bracco of The Sopranos talks about her own debt-related problems here). Inspired by Robert Manning's book Credit Card Nation (Manning also serves as one of the film's key advisors), In Debt We Trust explores the alliance between credit card companies, the banking industry, and the Bush White House via their updated version of the federal bankruptcy laws, which make it very difficult for individuals to seek asylum through Chapter 11 filings. Congresswoman Sheila Jackson Lee (D-Tx.) discusses her attempts to change the legislation to offer more protection for consumers (the footage was shot before the Democrats regained Congress, but to date her proposed legislation has yet to gain momentum). One of the most powerful scenes of the film visits a service at a predominantly African-American church, where the proceeds from the collection plate are gathered to help financially strapped parishioners pay off their debts. A wake-up call about the growing social issue of consumer debt, this is recommended. Aud: C, P. (P. Hall)