Foreclosures are hitting record highs; Americans are declaring bankruptcy at rates ten times that during the great Depression; more college student...
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Dec 17, 2009
Sabiel
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Scurlock starts at the beginning. Apparently the guy who invented the first plastic crackpipe (aka credit card) was like, a total genius who wanted to make the world a better place by inventing a new currency, i.e. credit. This would therefore make us more efficient human beings by simplifying transactions (and racking up fees and interest in the process).
He then visits a real estate agent in Vegas who sells 20,000 sq. foot mansions to people who can barely afford them, but are able More...
He then visits a real estate agent in Vegas who sells 20,000 sq. foot mansions to people who can barely afford them, but are able More...
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Dec 16, 2009
Chazz
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Maxed Out, by James D. Scurlock - 3 and ½ stars; even though the book contains much that is predictable, it still spins its tales in a fascinating way. One example is the tale of Yolanda, an illegal immigrant from Mexico who makes about $20,000/year by digging recyclables from trash bins at night; in her fifty years in the U.S., she never took out a loan on anything in her life; one of her daughters breaks her heart by ringing up hundreds of dollars in bills every month on her cell phone; pinnin
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Dec 16, 2009
Sara
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I had been looking forward to reading this after hearing a bit about it from an online "no more debt" forum but I have to say, I'm a bit underwhelmed. While I completely agree with the author that credit is way too easy to get today, and that banks and financial institutions have really blown it by being so obsessed with selling debt that they will extend it to anyone, even those who clearly cannot afford to be extended that debt...I still felt that Scurlock didn't lay enough blame on
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Dec 17, 2009
Melissa
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Why has the cost of living skyrocketed while wages have stayed the same? Two words: easy credit. It's driven the cost of everything up while driving the world into debt. This cannot go on much longer. Something's gonna give.
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May 24, 2008
Eboni
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After reading this book you will understand the deceptive, tragic, and even illegal methods banks use to take your hard earned money.
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Aug 31, 2011
Barbara
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The problem, as writer and filmmaker Scurlock brings out in his book (and companion documentary film), is that Americans are living on borrowed funds and we'll all be in trouble when the bill comes in. The fact that the government kowtows to big corportions like Citigroup and Bank of America should be enough to anger most Americans. The simple fact that America is the only nation in the civilized Western world where you can declare bankruptcy due to medical bills should outrage any sane individu
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Apr 05, 2009
Anita
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Good expose of the evolution of credit/debt and the institutions who specialize in "lending" but for the sole purpose of profit for the banks, credit card, and collection entities. Illustrates tactics used to prey on the least educated and most vulnerable. Shows how consumer protection laws have been systematically eliminated and how these beheamouth institutions expect the Federal Gov't to bail them out. The ultimate in capitalist corruption; when the money runs out, just sell cred
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Dec 14, 2010
Ashley
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Devoured this one in less than 24 hours, but am having trouble deciding what the main point was exactly. This book was released in 2007, and I know that Scurlock - who has a dry humor and biting delivery - is positively cackling over the ensuing financial meltdown these past few years.
Overall, I know Scurlock's gist was that access to credit is too easy; banks, credit card companies and the like make access too available and people with no business having one, muchless five or six, c More...
Overall, I know Scurlock's gist was that access to credit is too easy; banks, credit card companies and the like make access too available and people with no business having one, muchless five or six, c More...
Sep 07, 2008
Sally
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This book is the companion piece to the film, Maxed Out. It's full of data that is chilling and prescient of our current economic chaos. This is an interview related to the film.
No credit cards were used when making this film
By Sally Duros
Chicago Sun-Times Real Estate Editor
March 2, 2007 — Has the American Dream become the American Mirage because of the
powerful debt industry? James Scurlock thinks so, and he makes a substantive case in the film, “Maxed O More...
No credit cards were used when making this film
By Sally Duros
Chicago Sun-Times Real Estate Editor
March 2, 2007 — Has the American Dream become the American Mirage because of the
powerful debt industry? James Scurlock thinks so, and he makes a substantive case in the film, “Maxed O More...
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May 16, 2008
Nola
rated it:
As I read...surprisingly, this is a page-turner! I started it before bed thinking it would help me go to sleep and stayed up past midnight, finally forcing myself to put it down. I was shocked! That doesn't usually happen to me with nonfiction.
Finished review:
Although I usually try to write a review soon after finishing the book, I actually had to wait quite awhile to write this one. Frankly, the reason came down to a strong difference of opinion on a minor portion of the book More...
Finished review:
Although I usually try to write a review soon after finishing the book, I actually had to wait quite awhile to write this one. Frankly, the reason came down to a strong difference of opinion on a minor portion of the book More...
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Nov 14, 2007
Brian
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By now, everyone should know about the perils of easy credit and the promises that your home's value will always go up. But James Scurlock saw this coming before many of us did, and warned about it in his documentary and book. The book provides a brief but damning history of how credit came to dominate our lives, along with a ton of examples of how the financial giants screw us at every turn, including, of course, buying politicians who are more than willing to sell their votes to deregulate the
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Jun 05, 2010
Sarah
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I did this one in a reverse order from what I normally do: I saw the movie first. HOWEVER, this is one of those times when I advocate seeing both the movie AND reading the book rather than choosing one over the other. Both are extremely accessible, both are incredibly relevant, and both will make you reevaluate your needs versus wants while simultaneously making you allergic to plastic money. I normally glaze over when I read about the banking industry and when I hear about credit and lending in
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Dec 06, 2008
Quinten
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A half-baked summary of the movie-making process. Scurlock's analysis is cursory at best. I looked for insights, but instead this book can fairly be described as a screed. Even though I agree with his conclusions, I was looking for something with some more substance. Some of the personal stories that he relates are shocking, but the writing was just-compelling enough that I can imagine that they made for good video. As a book, it was disappointing.
Mar 20, 2009
Nonie
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Published in early 2007, this story of the credit/mortgage meltdown in the US would not be so poignant if it had not been written before the event. Until the paradigm of US citizens gets off consumerism, we're in for a world of hurt and it could bring all of us down.
Jan 08, 2010
Kate
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Prescient, given that it was written just before the big 2008 crash. And chilling, because he's pointing out how bad things were, back when we thought they were basically good. He's the Michael Moore of personal finance, it seems.
Jul 18, 2010
Audra
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This was really good look into the history of credit cards and how they can ruin your life. It is funny to think that relatively speaking they are not that old, but they have been around for my lifetime. It now has become the way of life.
Mar 23, 2010
Amy
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Very interesting book. I was shocked to hear the basis of credit scores and how the lending/credit companies work. Eesh... The stories are heartbreaking, and being one who tried to fill a void in her life by using plastic, I know how easy it is to find yourself in that trap.
Jul 21, 2009
leslie
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At first I thought it was a great book talking about the credit problems. But near the end he drifted into blaming the lenders (predatory lending) and basically indemnifying the borrowers. Nobody forces anybody to get a credit card and charge stuff they can't afford. I'm not saying the lending practices are perfect, but if we say that people are too stupid to know whether or not they can afford something, then are we saying they are too stupid to run their own life and government must regulat
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Aug 22, 2008
Cris
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There’s a fine line to straddle when writing about a complex subject for the general public. The subject must be broken down into understandable (preferably logical) parts without oversimplifying or ‘talking down’ to the readers. I’d say the author manages.
Possible Read-A-Likes: A Short History of Nearly Everything by Bill Bryson & The X in sex: how the X chromosome controls our lives by David Bainbridge (Completely different subjects, but both are interesting, enjoyable reads where More...
Possible Read-A-Likes: A Short History of Nearly Everything by Bill Bryson & The X in sex: how the X chromosome controls our lives by David Bainbridge (Completely different subjects, but both are interesting, enjoyable reads where More...
Nov 24, 2009
Chris
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Extrememly interesting, I also watched the documentary that made a great companion with this book, but is a little choppy without it. Highly recommend it to anyone, in fact, just mailed my copy to my sister, and insisted she read it as well. Found the opionion of presidential domestic policy concerning credit, debt and the economy (think it was on page 107) very succinct.
Jun 27, 2009
Falbs
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Not too bad for a screaming Republican ass, but didn't really learn anything new.
Nov 02, 2007
Lauri
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I saw this movie at SIFF in 2006 and loved it. The director was present and I really enjoyed his comments & perspective after the movie. I'm so glad that he wrote a book (2007) so that I can learn more.
The book was pretty good. There's a lot of good and enlightening info in here, but if you've seen the movie, skip the book. If you haven't seen the movie, rent it, and then skip the book. The book is almost verbatim to the movie. The book was more anecdote than expose, which was very More...
The book was pretty good. There's a lot of good and enlightening info in here, but if you've seen the movie, skip the book. If you haven't seen the movie, rent it, and then skip the book. The book is almost verbatim to the movie. The book was more anecdote than expose, which was very More...
Apr 10, 2008
Mary
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Really good. Explains how many Americans surf the wave of debt from introductory credit cards and first time mortgages to multiple cards with high limits and McMansions. And how easily one can wipe out on debt. Gives an interesting take on the role of debt and the depth of the crisis the American economy is facing. Explained in non-technical language combined with interviews with ordinary people caught in the bear trap of debt.
May 19, 2011
Lola
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A very funny book so far. I'm on page 80 and I'm already very depressed. It's how I feel when I read books on the state of the environment: outraged and powerless. Though this one has the added bonus of making me want to deal in cash for the rest of my life.
Now that I'm finished with it, the above stands. And I'm now very paranoid about my credit dealings, banks, insurance, you name it. Great.
Now that I'm finished with it, the above stands. And I'm now very paranoid about my credit dealings, banks, insurance, you name it. Great.
Apr 14, 2010
Nan
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They would like to have you believe otherwise, but the credit card companies are not your friends! (If this is a surprise to you, you need this book right this second.) True, the stories here are the worst of the worst, but it's a worthwhile read. Lots of credit does not give you the American Dream. It just lets you pretend for a while.
Dec 16, 2009
Mike
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Super-Size Me for Credit Cards. That's what this is. And it's equally disgusting. While Super-Size Me was enough to make me a vegetarian, this one's enough to make me pull out the blender and do a Dave Ramsey-esque "Shredectomy" on my credit cards.
It paints a bleak financial picture for the US. Definitely worth a read.
It paints a bleak financial picture for the US. Definitely worth a read.
Mar 21, 2008
Ngaire
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Good book - it scared me actually. One of the things I've noticed since moving to the US, is that it seems so easy to fall into the debt trap and so difficult to get out (you can get loans that you'd never in a million years get in NZ). Big incentive to pay off the credit card and cut it up.
Sep 26, 2007
Chris
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This book will help you to fear and hate the credit/mortgage industry. It provides good insights on bankruptcy, financial traps, and why the way things are. This is not a self-help book, but rather a documentary type book - if that makes sense.
