Bankers have been erroneously reviled throughout history, and in particular were wrongly held responsible for the 2008 crash that crippled the U.S. economy. So argues filmmaker Chris Mortensen, who advances a libertarian economic argument against regulations on the lending industry, ultimately pointing the finger of blame for the recent recession at lawmaking politicians. Sarcastically narrated by a contemporary loan shark named Shylock (Chase Williamson), the documentary begins with a chatty history that recounts how interest-taking on loans was condemned by ancient philosophers such as Aristotle, as well as by medieval Christian theologians—even though rulers and the Church took advantage of the practice while abusing and even sometimes expelling the Jews who engaged in what was called usury. The film contends that ignoring the benefits of money-lending—which are here enumerated as the expansion of trade and commerce, the flourishing of art and letters, the Industrial Revolution, and the technical innovations of the 20th century—while also deprecating those engaged in the practice all came to a head in the United States after World War II, a time when politicians promoted policies that encouraged borrowers to take out unwise loans, and lenders were promised government guarantees against loss. The result was first the savings and loan crisis during the 1980s, and then the 2008 disaster, which Washington exacerbated by compelling even solvent firms to accept bailout funds in order to forestall public panic. Combining graphics and archival footage with interviews of bankers, economists, and ex-regulators (along with excerpts from The Merchant of Venice and It's a Wonderful Life), Mortensen delivers a jeremiad that Ayn Rand would have loved, although its snarky tone may well put off the uninitiated. A strong optional purchase. Aud: C, P. (F. Swietek)
The Moneychangers: Shylock's History of Moneylending
(2016) 101 min. DVD: $75: public libraries & high schools; $350: colleges & universities. DRA. Tugg. PPR. Closed captioned. Volume 32, Issue 2
The Moneychangers: Shylock's History of Moneylending
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