2014-06-13

Current Events: Spent Looking For Change (Documentary)


Spent: Looking for Change is a film about everyday Americans without the financial options most of us take for granted and the movement giving them renewed hope. To find out more and take action, visit http://spentmovie.com/.
Turning to pawn shops, check cashing services, and using payday loans to meet basic financial needs can be costly for many of us, with $89 billion a year going to fees and interest* for using these types of alternative financial services.
It's time for change. New technology, new ideas and encouraging dialogue around this issue can help make managing money simple and more affordable.
American Express is presenting this documentary to help improve financial inclusion in the United States. Academy Award®-winning filmmaker Davis Guggenheim is the executive producer of the documentary which is narrated by Tyler Perry and directed by Derek Doneen.
*Source: CFSI, November 2013 Market Sizing Report


The words coming out of this Amex reps face sound good but I can't imagine that there isn't some larger scheme at play in the background in play. None-the-less the documentary is interesting and worth a watch. The only real motivator for Amex to be pushing for real substantive change to the financial system is that they perceive alternative monetary systems (Bit-coin etc...) as a real threat. When there is a viable option other than the establishment that will allow people to take their money entirely out of the old system that is when you may see these old guard establishments start to move. While for me it's too soon to get into Bit-coin I'm definitely a cheerleader of it. Anything that can put a scare into established financial institutions is a good thing in my book.

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