From NTXFF 2019
Greetings again from the darkness. The meek may inherit the earth, but if this Steven Soderbergh movie based on Jake Bernstein’s book (screenplay by Scott Z Burns) is correct, they aren’t likely to get the money too. To put it more bluntly, the first of the film’s 5 rules of creating and protecting wealth is, “the meek are screwed.” In order to follow this film that is “based on true secrets”, it helps to have a basic knowledge of the Panama Papers … a 2016 anonymous leak of more than 11 million documents exposing how the rich skirt the laws when it comes to protecting their money. Offshore entities had previously been a mainstream punchline, but these documents from Mossack Fonseca, a law firm in Panama, clearly outlined just how widespread the practice had become.
Rather than traditional narrative form, the information is presented through multiple vignettes featuring an impressive roster of well-known actors: Meryl Streep, Jeffrey Wright, Sharon Stone, Melissa Rauch, David Schwimmer, James Cromwell, Matthias Schoenaerts, Robert Patrick, Nonso Anozie, and Rosalind Chao, plus a few others you’ll recognize. In the role of tongue-in-cheek emcees are Gary Oldman and Antonio Banderas, as Jurgen Mossack and Ramon Fonseca, respectively. Their coordinating flamboyant outfits correspond to these caricatures of the real men behind this web of fraudulent activity. They are meant to add humor to the situation, but also tell “their side of the story.”
We are caught off-guard when Meryl Streep’s story and her character are not the main focus. Her slow unraveling of insurance fraud after her husband’s death is but one segment of the lesson that will likely confuse most people. The easy comparison is Adam McKay’s THE BIG SHORT (2015), which used some of this style in explaining the mortgage backed securities market. Whereas Mr. McKay won an Oscar for his screenplay, that’s highly unlikely for this one. Scott Z Burns is a talented writer, but this was simply too complex of a subject to tackle in 95 minutes. Mr. Soderbergh, as is tendency, not only directs the film, but is also the cinematographer, editor and producer.
This is a Netflix production, and thanks to the presence of Ms. Streep, will likely have at least a limited theatrical release. Unfortunately, neither big screen nor small will solve the inherent issues here. There are some nuggets such as Delaware, despite its population of less than one million, being king of corporation filings (thanks to its business-friendly tax laws). Understanding shell companies, tax evasion, and other illicit financial activities among the world’s ultra-rich requires more than a talented cast, but perhaps there is enough here to motivate some to dig a little deeper with their own research. That is, if the film’s finale – a lecture on reform – doesn’t turn you off completely. Many of us appreciate being informed, but rebel against the preaching.