Magnolia to venture in credit biz

No its not a docu pic on George Miller’s many attempts at getting the Mel Gibson futuristic film off the ground, instead this newest doc likely to be purchased by Magnolia looks at how the credit industry plunges you and me into disastrous debt.

Directed by and not French Fry bandit Morgan Spurlock, Maxed Out takes the point of view of people who are seduced by but then often choke on mortgages, credit cards and other bank loans. It also investigates practices and tactics of the banks and credit card companies.

Variety reports that the pic likely will be released to theaters on Magnolia’s Truly Indie label in late winter and could, under one scenario, go into homevid as a Red Envelope release for Netflix and a Magnolia Home Entertainment release to retail outlets.