New Film Spotlights Federal Reserve Involvement in Financial Crisis
With all the talk of the big banks’ role in the financial crash, which began in late 2007, you would think there would be more focus on the biggest of them all: the Federal Reserve System of the United States. Bringing the Fed into the discussion is just what a new documentary does — Money for Nothing: Inside the Federal Reserve. Reason TV’s Zach Weissmueller interviews the filmmaker in the video below:
So much scrutiny has been put on the banking industry, skeptics might see this as merely a corporate-financed documentary to shift the blame away from them and to the government. That isn’t what has happened here. In fact, the filmmaker financed the project himself with money he earned by betting against the success of the major banks using a type of financial transaction known as “shorting.” It’s what you want to do when you think the stock price will decline in the future.