Blog Archives

Abacus: Small Enough to Jail

       

thomas-sung

Thomas Sung, the subject of “Abacus: Small Enough to Jail.” Photo by Sean Lyness

        May 16, 2017.  Last October I wrote an article about

 Abacus: Small Enough to Jail,” a documentary which was

shown as part of the New York Film Festival. While I

realize most readers might not have been able to

make it to the festival, how fortunate it is that this

excellent documentary will start a run at IFC Center

on Friday, May 19. Read the rest of this entry

Abacus: Small Enough to Jail

thomas-sung

Thomas Sung, the subject of “Abacus: Small Enough to Jail.” Photo by Sean Lyness

October 01, 2016. “Abacus: Small Enough to Jail” is a gripping account of the, under reported, trial of the Abacus Federal Savings Bank, the only bank to have faced criminal charges in the wake of the 2008 financial crises. Even though much bigger banks participated in deliberate and massive mortgage fraud, no criminal indictments were every brought against them. They were bailed out by the tax payers because they were “too big to fail.” In other words, had they failed they would have wreaked havoc on the U.S. economy. So, they got a pass. Abacus, as the film’s title suggests, was small enough to pick on as the proxy for the much bigger banking corruption that was not, and apparently could not be, punished. Read the rest of this entry