The Other Guys: Will Ferrell and the Lehman Brothers December 10, 2011Posted by Garibaldy in Capitalism, Film.
I’ve never been a massive Will Ferrell fan. Anchorman bored me, while Old School I never found that great. On the other hand, Talladega Nights was hilarious. The Other Guys is alright, and not much more, though it does have some funny moments. But that’s not what’s interesting about the film. I watched it a while ago, and can’t remember much about the plot now, except that it involved something to do with the TARP bailout given to the US banks. So far, so meh. The best bit of the film though is actually during the credits. There you can find the following the details, which are enough to make your blood boil, and shock you that a mainstream Hollywood film that was number one at the box office will criticize bank bailout so openly. Even if only after the film has actually ended, it’s still progress.
Starting with Ponzi himself, they move on to mention Bernie Madoff, then point out that the $700 billion TARP means $2,258 for every man, woman and child in the US – enough to buy a trip round the world. AIG received $183 billion, while planned bonuses to its executives were $1,200,000,000. 73 AIG staff received bonuses after the bailout.
According to the film, Goldman Sachs in 2007 paid 34% tax. In 2008, after the bailout, 1%. The average salary ratio of a CEO to their average employee was 8:1 in 1916, 24:1 in 1965, 107:1 in 1990, and in 2010 stood at 319:1. In 1998, the average executive salary was $2.3 million. By 206, it was $11.8 million. Many Americans pay into a 401(k) account for their retirement. In 2005, the average was $102,014. By 2009, it had fallen by 47%, to $64,200.
Maybe Frank Miller’s next work will feature The Fixer dealing with the corrupt bankers next. We are, after all, all in this together.