Valeant Pharmaceuticals was a multinational specialty pharmaceutical company based in Canada. It grew rapidly through a series of mergers and acquisitions under the leadership of J. Michael Pearson. The company was involved in a number of controversies surrounding drug price hikes and the use of a specialty pharmacy for the distribution of its drugs, which led to an investigation by the U.S. Securities and Exchange Commission and caused its stock price to plummet more than 90 percent from its peak while its debt surpassed $30 billion. Wall Street short-sellers exposed a scam that regulators overlook: how Big Pharma gouges patients in need of life-saving drugs.
How might your life be better with less? The film examines the many flavors of minimalism by taking the audience inside the lives of minimalists from all walks of life -- families, entrepreneurs, architects, artists, journalists, scientists, and even a former Wall Street broker -- all of whom are striving to live a meaningful life with less.
Super quick computers and advanced mathematical formulas have taken over trading on the financial markets from human beings -algorithms- which seem to have a life of their own. The only ones who understand the system in any way are its architects, the algorithm developers. Haim Bodek is one such algo-developer. After finding some strange wrongdoings he set out on a personal crusade against this elusive system". The machinery behind our financial markets, consisting of mathematical models, data centers and miles and miles of fiber optic cables, is disguised by technological complexity and secrecy. The builders of this financial system are a new breed of Wall Street employees -quants- mathematicians and physicists who are responsible for a technological revolution. Haim Bodek is a quant; he specialized in artificial intelligence and worked for Goldman Sachs. He knows the system from the inside, he helped build it. Haim Bodek was invited to tell his story at the "Battle of the Quants" - a recurring event where quants discuss high-frequency trading, amongst other things. Bodek wrote an algorithm for trading machines that would generate guaranteed income - a money machine that weathered the financial meltdown of 2008. But then from one day to the next the algorithm stopped working.
Michael Moore returns to controversial territory with this documentary examining the events that led to the last global financial crisis, while putting forward an indictment of the current economic order in the United States and unfettered capitalism in general. Topics covered include Wall Street's "casino mentality", for-profit prisons, Goldman Sachs' influence in Washington, D.C., the poverty-level wages of many workers, the large wave of home foreclosures, corporate-owned life insurance, and the consequences of "runaway greed".
In February 2009, Michael Moore issued an appeal to people who worked for Wall Street or in the financial industry to share first hand information, requesting, 'Be a hero and help me expose the biggest swindle in American history'. He uncovers the social costs of corporate interests pursuing profits at the expense of the public good.
Michael Ruppert is an independent journalist who has made a minor career out of telling people news that most folks do not want to know. Ruppert, a former police officer, predicted the Wall Street debacle of 2008 several years before the fact, at a time when most analysts were still imagining infinite growth for the stock market and major investment banks. Since then, his vision of the world's future has grown only darker. As Ruppert sees it, civilization and the global economy has yet to wean itself off fossil fuels, and when the world's supply of oil finally runs out, it will lead to a global financial catastrophe that will leave no one unscathed. But while most of what Ruppert has to say bears the ring of truth, there's a small audience for his dire message -- the primary medium for his work is a self-published newsletter, and his most recent book has done so poorly in the marketplace that he faces eviction from his home. Is Ruppert right? And if he is, why doesn't anyone care? Filmmaker Chris Smith profiles Michael Ruppert and gives him a chance to explain his apocalyptic vision of the future at length
Wall Street short-sellers exposed a scam that regulators overlook: how Big Pharma gouges patients in need of life-saving drugs.