Capitalism: Michael Moore

BOSTON (MarketWatch) -- OMG! I write a column for The Wall Street Journal, and I enjoyed Michael Moore's new movie about the financial crisis, "Capitalism: A Love Story."

Sure, there were the usual gaps and distortions. More on some of them in a moment. But at the heart of the story, Moore hits a lot of targets right on the money.

Among them: The incredible rise, and apparently unsinkable nature, of the new American establishment -- people like Tim Geithner, Larry Summers, Robert Rubin, Henry Paulson, and of course Alan "Bubbles" Greenspan. They prospered under Clinton, they prospered under Bush, and now they are prospering under Obama. You could argue these men (in succession) have been quietly running the country for two decades, and nobody seems to have noticed.