George Monbiot joins the conspiracy.
This, I think, is bang on:
People believe Loose Change because it proposes a closed world: comprehensible, controllable, small. Despite the great evil that runs it, it is more companionable than the chaos that really governs our lives, a world without destination or purpose. This neat story draws campaigners away from real issues - global warming, the Iraq war, nuclear weapons, privatisation, inequality - while permanently wrecking their credibility.