60 Minutes 10/21/12 Recap: Spielberg on His Parents, Legalizing Marijuana, Goldman Sachs Expose

Although California, Denver and 15 other states consider marijuana legal for chemotherapy (think Stepmom) and glaucoma, growing, manufacturing, selling and ingesting it is a federal crime. 60 Minutes also talks about  Steven Spielberg’s childhood and the Goldman Sachs expose.

In Denver, you can buy almond-looking weeds in low- and high-end shops.  Growers track marijuana from seed to sale.  60 Minutes interviews the maker of the award-winning Biodiesel strain of marijuana.

Marijuana also comes in edible forms.  Dixie Elixirs makes chocolate rolls, ice creams, and red currants.  Edible and medical marijuana bring in $ 20 million in taxes for Denver. Its legalization is now pending in referendums and federal court.

Anderson Cooper interviews middle-level employee Greg Smith walked away from a half a million-dollar salary at Goldman Sachs, where he worked for twelve years, to expose the unethical issues in the company.  When he was at Goldman Sachs, the company grew five times in five years, due to a boom that led to deregulation (Former Federal Reserve Chairman Alan Greenspan said in another show, which I don’t remember, that he was at first in favor of, but thinks is a bad idea on hindsight).

Greg Smith said that Goldman Sachs was betting against their clients, one of them told him they would continue doing business with them even though they did not trust them.  Smith said that Goldman Sachs charged a client an extra million dollars because the clients did not bother to check the transaction.

In answer to Cooper’s question, Smith said that he would still have exposed the company in the book, Why I Left Goldman Sachs, if Goldman Sachs had been paid him the million dollars that Smith wanted from the company.

Steven Spielberg talks about his childhood.  His mom was Peter Pan, who refused to grow up.  He was not close to his dad.

To get back to his neighbors, who called them “dirty Jews,” he smeared peanut butter on their windows.  Due also to the anti-Semitism, he told everyone that he was German.

He also reacted to his parents’ divorce, by making ET.  Although his mom left his dad, he blamed his dad for the divorce and was angry with him for fifteen years, until his wife Kate Capshaw encouraged him to make peace with his dad.

His movies reflect this change in his life.  From the dad as a bad guy, the dad becomes the hero, like in War of the Worlds and Schindler’s List.  The latter made $ 320 million.

Spielberg’s latest movie is on Abraham Lincoln, which Spielberg researched for twelve years.  Daniel Day Lewis plays Lincoln; Sally Field, his wife.  The movie is about “process and politics,” not the action-type that Spielberg is known for.  60 Minutes comments that the movie is like a stage play.

Check out our 60 Minutes archives HERE.

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