23 reviews
Excellent film about witch hunt by Manhattan D.A.'s office
Very well-done documentary about small (2,651st largest bank in the U.S. at the time) family bank in Chinatown New York prosecuted for financial crimes after 2008, has interviews with all the major players (bank employees/owners, prosecutors, defense attorneys, jurors, audio from witnesses, etc.)
Absolutely head-scratching as to why the D.A. thought this was a good place to satisfy public outrage over the Great Recession (politics and racism are hinted at but not fully explored). (I do wish this angle has been pursued in more depth.)
Basic plot: low-level employees are fleecing home buyers into giving them cash fees and then falsifying their loan applications so they get approved by higher-ups, the government decides this is evidence of a systematic conspiracy and tries to go after the bank itself (this despite it having an extremely low default rate, which makes it strange that Fannie Mae is named the defendant in the case because overall it got much more money from this bank proportionally than from thousands of others, particularly the giant ones who not only didn't get prosecuted but actually got bailouts (courtesy of you and me)).
Also shows incredible scenes such as the bank employees shackled together in a chain gang and paraded into the courthouse in front of news cameras (which by all accounts is an unheard-of practice nowadays); the Manhattan D.A. (Cyrus Vance Jr.) and one of his underlings ("Polly Greenberg" iirc) are both masterful in denying any kind of prejudicial motivation in selecting and prosecuting Abacus (the case took five years and cost taxpayers ten million USD and resulted in *zero* convictions).
Anyone need anymore evidence that giant corporations run this country? Anyone?
Absolutely head-scratching as to why the D.A. thought this was a good place to satisfy public outrage over the Great Recession (politics and racism are hinted at but not fully explored). (I do wish this angle has been pursued in more depth.)
Basic plot: low-level employees are fleecing home buyers into giving them cash fees and then falsifying their loan applications so they get approved by higher-ups, the government decides this is evidence of a systematic conspiracy and tries to go after the bank itself (this despite it having an extremely low default rate, which makes it strange that Fannie Mae is named the defendant in the case because overall it got much more money from this bank proportionally than from thousands of others, particularly the giant ones who not only didn't get prosecuted but actually got bailouts (courtesy of you and me)).
Also shows incredible scenes such as the bank employees shackled together in a chain gang and paraded into the courthouse in front of news cameras (which by all accounts is an unheard-of practice nowadays); the Manhattan D.A. (Cyrus Vance Jr.) and one of his underlings ("Polly Greenberg" iirc) are both masterful in denying any kind of prejudicial motivation in selecting and prosecuting Abacus (the case took five years and cost taxpayers ten million USD and resulted in *zero* convictions).
Anyone need anymore evidence that giant corporations run this country? Anyone?
- sfviewer123
- Oct 16, 2016
- Permalink
David vs Goliath
This film received a standing ovation at the Chicago International Film Festival. At the Q and A after the film the family was as genuine as in the movie. Not only is this a story about government picking on the small guy (small by banking standards) but also a nice movie about immigration and family values. The entire movie was shot while filmmaker Steve James (Hoop Dreams) was unaware if the family or bank would be found innocent or guilty of mortgage fraud. Unfortunately the court proceedings are represented by paintings and live audio, but you still get the feeling of being in the courtroom. Even a couple of jurors are interviewed. Do not expect to sit on the edge of your seat with anxiety but a very interesting, thoughtful film
- johnsonalg
- Oct 18, 2016
- Permalink
It's Not Such a Wonderful Life
I don't know if you've heard, but the American justice system is probably too cozy with the Big Banks. The beauty of this little doc is that it puts a personal face on the decidedly impersonal numbers, giving a portrait of a family unjustly taking the fall for corporations much worse than them. Especially love the natural comparison it makes to It's a Wonderful Life...because maybe it's not always that wonderful.
- matthewssilverhammer
- Feb 22, 2018
- Permalink
The scapegoat for the 2008 Great Recession
6/2/18. Another perspective on the 2008 financial debacle. While watching this, you have to wonder if this Chinese-run bank wasn't singled out to be the scapegoat for the what happened during the 2008 Great Recession. Just seemed like an easy target to get picked on, while the mega-banks got away with murder. Granted they had their problems with record-keeping, but they weren't the only ones. So, watch this with that in mind. Oscar-nominated and worth catching.
- bettycjung
- Jun 3, 2018
- Permalink
Watch it
I want to be careful to ensure my opinion of the doc isn't just my opinion of the subject. I don't think the subjects of the doc are admirable or deserve to be felt sorry for. The doc however, does a good job of introducing the players and explaining each of their association with the bank and family who runs it. I found myself getting distracted by the numerous scenes showing the family talking over each other and communicating nothing. I wanted to know more about the the effect on the trial on the community instead. Although this isn't my favourite doc of the year, I certainly think it's worth a watch.
- ryanlaurencecole
- Feb 10, 2018
- Permalink
Very well done, must watch.
UNBELIEVABLE!
I have never written a review but feel compelled to by the emotional response and anger this documentary has stirred. It is a well-done documentary, and I guess I am just shocked by its content.
I have studied the 2008 financial crisis extensively. I had no idea this happened. The US government and the New York DA's office should be absolutely ashamed. The fact that this happened makes me disappointed in my government. Part of me is holding some hope that the documentary is extremely biased and one sided (though I do not believe this is true). It makes me physically ill to think that the large financial institutions such as Citi Group, Bank of America, JP Morgan, etc., got away with what they did in causing the financial crisis and our government spent its resources persecuting this small family run community bank. Unbelievable.
I have studied the 2008 financial crisis extensively. I had no idea this happened. The US government and the New York DA's office should be absolutely ashamed. The fact that this happened makes me disappointed in my government. Part of me is holding some hope that the documentary is extremely biased and one sided (though I do not believe this is true). It makes me physically ill to think that the large financial institutions such as Citi Group, Bank of America, JP Morgan, etc., got away with what they did in causing the financial crisis and our government spent its resources persecuting this small family run community bank. Unbelievable.
- johnsonmarques-83144
- Feb 11, 2018
- Permalink
Pull the Other Leg
Beware the Bureaucrat with Power and a Hunger for Headlines
Abacus: Small Enough to Jail is a suspenseful David v. Goliath documentary of family loyalty and stubborn courage facing a gigantic government agency and an ego to match. As follows: Tom Sung emigrated from China at 16 and became in time a citizen, a successful lawyer and a resident of upscale Connecticut. Nevertheless he noticed that 'establishment' banks were happy to take his deposits, but when it came to getting a loan, he didn't, as the saying went in the hateful days of the racist Exclusion Act, 'have a Chinaman's chance.' Sung then took a chance and started his own bank—Abacus Federal Savings. His timing was perfect: new immigration laws in the 1960s meant Chinatown soon had a] plenty of customers for Abacus and b] something besides Cantonese restaurants. He was a genuine positive force among the Chinese population, admired and respected by all. Then about a decade ago low-ranking Abacus personnel were caught falsifying mortgage applications; they were immediately sacked and their misdeeds reported to feds, as required. Mistake, as it turned out. The subprime- mortgage crisis was big news: until then, few Americans used the word 'trillion' for anything but the national debt or the distance from here to Alpha Centauri. Villains included Citibank, Merrill Lynch, Goldman Sachs, Wells Fargo, Fannie Mae and Freddie Mac, and while some were fined, no one went to jail and most bonuses were paid as usual. Unfortunately for Abacus, new-minted New York D.A. Cyrus Vance Jr., who was as hungry for publicity as NY's Sen. Charles Schumer, saw a chance for headlines and photo ops. Seeking a halo as the sole public avenger of the crisis, Vance charged Abacus with 80 counts of criminal wrongdoing, launching a court battle that ran five years and cost $10 million. Although the major villains had got off lightly as being 'too big to fail,' Vance's target was indeed 'small enough to jail': in size, Abacus was 2600th among U.S. banks. About the size, as it turned out, of David. This is an excellent documentary, suspenseful but lightened with some bursts of humor among the Sung family as they fight for the reputations and their principles.
- marsanobill
- May 27, 2017
- Permalink
Justice Perverted
This documentary had me fuming. The Too Big to Fail Banks got off scot-free, and actually made money from the crisis they created. Meanwhile, a bank catering to a migrant community, who tries to do the right thing gets screwed by an overzealous, politically motivated DA.
- bretcarbone
- Jun 23, 2018
- Permalink
A really brilliant documentary pitting the US Government against New York's Chinatown
Steve James is a very famous documentarian who was robbed when his master work "Hoop Dreams" was inexplicably ignored by the Oscars in the Best Documentary Feature category in 1994. His later films included "Stevie", "The Interrupters" and the moving record of Roger Ebert's last days, "Life Itself". And now finally the film that brought James his first nomination for Best Documentary Feature.
"Abacus: Small Enough to Jail" is an excellent documentary that centers on the Abacus Federal Savings Bank, a family-owned community bank in Manhattan's Chinatown which became the only bank to actually face criminal charges following the 2007 mortgage crisis - and only because it was deemed not 'too big to fail', an incredible injustice by the U.S. Justice Department merely looking for a scapegoat. But the film is not primarily socio-political; it is, in fact, a 'David vs. Goliath' story of the court battle of the Asian family's defense for their honor against the gigantic U.S. government, and, without shying away from showing the family's internal squabbles and moments of weakness, the film documents the difficult daily sacrifices necessary for them to stand up for their principles.
Perhaps some will find this too much a 'standard' documentary, but I feel the story and characters interesting enough not to necessitate a stylistic 'hyping up', and, as is, the film perfectly captures its time and place while keeping us on the edge of our seats until the final verdict. Critic Matt Zoller praised the director for "finding the universal within the specific", and for the film creating a portrait of Chinatown as a thriving community that "defines itself in relation to...American culture... but never entirely comfortable or accepted." It is also an inspiring film of an immigrant family who struggles to survive through a conflict that they know is virtually impossible over which to prevail - but still they find they cannot submit to what they see as an injustice they did not come to America for. This is a film I truly loved. Don't miss it.
"Abacus: Small Enough to Jail" is an excellent documentary that centers on the Abacus Federal Savings Bank, a family-owned community bank in Manhattan's Chinatown which became the only bank to actually face criminal charges following the 2007 mortgage crisis - and only because it was deemed not 'too big to fail', an incredible injustice by the U.S. Justice Department merely looking for a scapegoat. But the film is not primarily socio-political; it is, in fact, a 'David vs. Goliath' story of the court battle of the Asian family's defense for their honor against the gigantic U.S. government, and, without shying away from showing the family's internal squabbles and moments of weakness, the film documents the difficult daily sacrifices necessary for them to stand up for their principles.
Perhaps some will find this too much a 'standard' documentary, but I feel the story and characters interesting enough not to necessitate a stylistic 'hyping up', and, as is, the film perfectly captures its time and place while keeping us on the edge of our seats until the final verdict. Critic Matt Zoller praised the director for "finding the universal within the specific", and for the film creating a portrait of Chinatown as a thriving community that "defines itself in relation to...American culture... but never entirely comfortable or accepted." It is also an inspiring film of an immigrant family who struggles to survive through a conflict that they know is virtually impossible over which to prevail - but still they find they cannot submit to what they see as an injustice they did not come to America for. This is a film I truly loved. Don't miss it.
Abacus brought this entire thing on themselves
Too big to fall, too small so go to jail
This documentary shows you how politically motivated are the justice system. Rather than picking on banks that defrauded American trillions of dollars, they choose to indict a small family bank in Chinatown.
T's disgusting when you understand the scope of what the mortgage crisis did to America and not surprising that the only ones prosecuted were Chinese-American.The DAs in this film looks like pompous legal heavy hitter-wannabes tainted by self-righteous vain-glories.
What Happened to Justice?
Documentaries may be about true stories, but that doesn't mean they can't stir up emotional responses in the viewer. The last documentary I read, about first responders in Aleppo, Syria, made me feel anger against the callousness of governments, and sympathy for the strong and courageous men who have to deal with the consequences. This movie, too, made me rail against not just the enormous insensitivity of my own government, but also just how incompetent it seems to be.
"Abacus" is the name of a small federally chartered savings bank, with just six branches, operating in New York's Chinatown. It was founded by a Chinese man, born in Shanghai, who immigrated to the United States as a child with his parents. He went to law school and practiced law for a while and then decided to help his native community by operating a bank that could provide credit to other Chinese immigrants who have a native mistrust of banks, government, and pretty much any institution who wants a share of their money. In addition, to operating his bank, successfully for many years, he, with his devoted wife, also raised four amazing daughters, three of which also became lawyers and the fourth, a physician. In short, this was an impressive family - smart and hardworking.
The documentary camera spends a lot of time with this family, in their offices, and frequently in Chinese restaurants eating big, and appetizing, Chinese meals. We learn that the family is close-knit, loving, and commanding a sense of humor, in addition to being smart and committed to both their family and their community.
They had to have those qualities, in order to survive an ordeal that lasted five long years and would threaten their bank, their reputations, and their freedom. Abacus Federal Savings Bank was not just the first, but the only bank in all of America that was charged and prosecuted with felony charges as a result of all the financial misbehavior that created the 2008 financial collapse of America. You have to think about that a bit. If, like me, you've been waiting for ten years now for leaders of America's biggest banks (like Chase, Goldman-Sachs, Wells Fargo, and Citibank) to actually pay for the suffering they caused Americans because of the greedy deals they fraudulently packaged and promoted, then this documentary will do nothing except make you angry.
Instead of going after the banks that were 'too big to fail', instead, Cyrus Vance, the D.A. For the Southern District of New York, instead took the incredibly easy and cowardly approach of trying to punish a small community bank that had, at worst, committed some omissions of proper oversight over some of its employees. The Sung family, and the managers they employed, were definitely guilty of failing to adequately oversee several of their mortgage processors, because, frankly, they trusted them more than they should have. But, after five years of building a case, the assistant district attorney couldn't connect all the dots to prove criminal intent on the part of the owners, she instead developed absurd theories based on cultural misunderstandings and career advancement goals. No doubt she had encouragement from Vance who was desperately looking for an example that would pretend to show that they were indeed doing something about the financial crisis. They found a bank that was "small enough to jail!"
I've been concerned for some time now about the lack of leadership in our political institutions. It seems we have embraced leaders who are not only just plain stupid, but who also are motivated by the basest of impulses. This movie does nothing to alter that opinion. I give the movie 8 stars for so effectively making me angry!
"Abacus" is the name of a small federally chartered savings bank, with just six branches, operating in New York's Chinatown. It was founded by a Chinese man, born in Shanghai, who immigrated to the United States as a child with his parents. He went to law school and practiced law for a while and then decided to help his native community by operating a bank that could provide credit to other Chinese immigrants who have a native mistrust of banks, government, and pretty much any institution who wants a share of their money. In addition, to operating his bank, successfully for many years, he, with his devoted wife, also raised four amazing daughters, three of which also became lawyers and the fourth, a physician. In short, this was an impressive family - smart and hardworking.
The documentary camera spends a lot of time with this family, in their offices, and frequently in Chinese restaurants eating big, and appetizing, Chinese meals. We learn that the family is close-knit, loving, and commanding a sense of humor, in addition to being smart and committed to both their family and their community.
They had to have those qualities, in order to survive an ordeal that lasted five long years and would threaten their bank, their reputations, and their freedom. Abacus Federal Savings Bank was not just the first, but the only bank in all of America that was charged and prosecuted with felony charges as a result of all the financial misbehavior that created the 2008 financial collapse of America. You have to think about that a bit. If, like me, you've been waiting for ten years now for leaders of America's biggest banks (like Chase, Goldman-Sachs, Wells Fargo, and Citibank) to actually pay for the suffering they caused Americans because of the greedy deals they fraudulently packaged and promoted, then this documentary will do nothing except make you angry.
Instead of going after the banks that were 'too big to fail', instead, Cyrus Vance, the D.A. For the Southern District of New York, instead took the incredibly easy and cowardly approach of trying to punish a small community bank that had, at worst, committed some omissions of proper oversight over some of its employees. The Sung family, and the managers they employed, were definitely guilty of failing to adequately oversee several of their mortgage processors, because, frankly, they trusted them more than they should have. But, after five years of building a case, the assistant district attorney couldn't connect all the dots to prove criminal intent on the part of the owners, she instead developed absurd theories based on cultural misunderstandings and career advancement goals. No doubt she had encouragement from Vance who was desperately looking for an example that would pretend to show that they were indeed doing something about the financial crisis. They found a bank that was "small enough to jail!"
I've been concerned for some time now about the lack of leadership in our political institutions. It seems we have embraced leaders who are not only just plain stupid, but who also are motivated by the basest of impulses. This movie does nothing to alter that opinion. I give the movie 8 stars for so effectively making me angry!
- michael-young-585
- Dec 2, 2018
- Permalink
Abuse of Power by Overambitious DA
- wkcranberry
- Jun 16, 2017
- Permalink
Wonderful
Wonderful family, and they won the fight against the state
- snowbird-18445
- Nov 6, 2018
- Permalink
200 years after decapitationof Louix XIV
- jianqiaoyep
- Feb 23, 2018
- Permalink
Lucky you....
I only got one thought when I watched this film: Suppose your family didn't have that 10 million dollars, or suppose you've only got 8 millions, could you still afford to continue the lawsuit against the American bureaucratic system? Or suppose you didn't have enough financial backbone and your pocket was not deep enough, did it mean that you guys would still have been jailed? So this also means that if don't have enough money to fight in the court, you would have to plead guilty in the end, the injustice would never be overturned?
So even you've been exonerated and proved to be innocent, what's next?
- MovieIQTest
- Feb 20, 2018
- Permalink
A moving story on family, community and human strengths
Highly enjoyable documentary where events unfold in a matter-of-fact way with clarity and extreme realism.
Great
I love documentaries and this one is wonderful. Steve James is a master filmmaker and the way he constructs this film is perfect. His film Hoop Dreams is one of my favorites but this one is right up there. The story of this family and all that they go through is a story that people need to see. I hope more people can see this film and be moved like I was.
- chuckplotkin
- Apr 4, 2020
- Permalink
Pretty cut and dry
- reneereives
- Mar 12, 2019
- Permalink
Small Enough to Screw
Maybe I'm not the most objective reviewer for this title. I have known Mr. Sung's sister, Mary, since 1959. The conditions under which they fled China were never spoken of. But when Mary turned 80 it seemed like she had reached a rite of passage and now she was ready to open up.
There's only so much you can put in a documentary. One thing that continued playing through my mind was how successful the family had been before leaving China, and arriving in the U. S. with nothing--except business savvy and a drive to rebuild. Watching the documentary unfold I couldn't help but thinking, "Twice in one lifetime--loss of everything--again." And while I would never wish anything bad for the powers that sought to put Mr. Sung and what he had built out of business, there is this thing called Karma. I remember with clarity a conversation with a friend many years ago: "The mill of the gods grinds exceedingly slow but exceedingly fine." And just one more for the road: "Time wounds all heels."
And the aftermath? Moving ahead to serve their community. The documentary is a powerful reminder that marginalization along racial lines is alive and, unfortunately, much too well in America.
There's only so much you can put in a documentary. One thing that continued playing through my mind was how successful the family had been before leaving China, and arriving in the U. S. with nothing--except business savvy and a drive to rebuild. Watching the documentary unfold I couldn't help but thinking, "Twice in one lifetime--loss of everything--again." And while I would never wish anything bad for the powers that sought to put Mr. Sung and what he had built out of business, there is this thing called Karma. I remember with clarity a conversation with a friend many years ago: "The mill of the gods grinds exceedingly slow but exceedingly fine." And just one more for the road: "Time wounds all heels."
And the aftermath? Moving ahead to serve their community. The documentary is a powerful reminder that marginalization along racial lines is alive and, unfortunately, much too well in America.
FANTASTIC. MUST WATCH
Wow. I can't believe they caught all this on film. What a story. David vs. Goliath. Stop what you're doing now and watch this documentary. You truly can feel what the entire family had to go through. Can't stress enough how good this film is
Steve James Maestro
Is there a better documentary director than Steve James? I don't think so. His films are wonderful and captivating. From Hoop Dreams to the Ebert doc, he shows masterful storytelling skills. I love "Abacus: Small Enough to Jail" - he captures the Asian family's dilemma as they are caught up in the financial scandal. It's a beautiful American story. Bravo Steve!
- billhartzig
- Apr 11, 2020
- Permalink