Sometimes, it's the smallest of detail in a news story, movie script or book that can take one's mind to places the writer never intended that mind to go. And It was just such a detail in Jodi Foster's Money Monster starring George Clooney and Julia Roberts, that did it for me. While the film had its moments, it was the only one that captured my imagination and provided food for further thought. Let's get to the details.
The plot is fairly simple. Wall Street CEO rips off investors. Poor slob decides to fight back. Gunshots are fired. OMG he's got a bomb, too! The cops are on the scene. Hostages are taken. A lot of blah blah blah. The "married" CEO's CCO/girlfriend spies his cell phone for clues and rats him out. Some more blah blah blah. Poor slob forces admissions of guilt during televised showdown with "scum-bag" CEO. "Scum-bag" CEO is shamed but unharmed. Another shot fired. Poor slob is dead. Fade to black. Roll credits. Did you spot the moment?
The moment the CCO/girlfriend started scrolling through her boss/boyfriend's smartphone looking for clues, was the last moment I could focus on the writer's plot. I started asking myself questions like why would a CEO who'd just stolen $800 million leave a trail of evidence on any cellphone, let alone one a "girlfriend" would ever have access to. Wouldn't someone like this be paranoid about hackers or government spies? And why wouldn't government spies be interested in keeping a spying eye on people entrusted with billions and billions of investor's money?
After Wall Street's near-financial collapse/bailout of 2008 and the economic devastation still being felt to this day, one would think it a matter of national security to closely monitor anyone handling the public's money. When it comes to the public's money, there should be no expectation of privacy, because there shouldn't be anything to hide. When someone has access to hundreds of billions of other people's money, the government should be watching them like hawks and thanks to Edward Snowden, we all know it can be done. So why not?
If the NSA can spy on Chancellor Angela Merkle of Germany, as well as a host of other world leaders in the interest of national security, why can't the NSA spy on the board members of Goldman Sachs or JP Morgan Chase. After all, Wall Street bankers have proven to be far more destructive to the United States and the rest of the world than any terrorist organization will ever have the capability to match. We should know every thought in their head, everybody they talk to, every dime they have and where they got it. Think about it. Could you be trusted not to skim a little off the top of trillions if you thought it wouldn't be noticed? I rest my case!
On the other hand, I could be completely off the mark. Maybe someone is spying on the super rich. Maybe law enforcement has been collecting and compiling evidence of wrongdoing among the "money monsters." Maybe the SEC, FBI, and NSA are covertly cooperating and sharing intelligence about activities that might not be in the best interest of corporate clients and customers. Maybe one day we will see Jamie Dimon or Lloyd Blankfein being escorted from federal court in handcuffs. Still, you probably shouldn't hold your breath until that day.
Bottom line: Unfortunately when it comes to the billionaire class, it just don't seem to work that way. Sure, you'll find the occasional high level small fish made an example of to quell the public's outrage from time to time, but as a rule, the bigger the crime the less likely they'll do any time. Let's face it, some people are simply untouchable. Podcast below!
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