Saturday, December 12, 2015

THE BIG SHORT-BullShit in Banking and Bonds Sales Leads to Major Financial Crisis

THE BIG SHORT is a film about the economic crash in the late 1970's caused by massive financial fraud & greed by major investment banking firms.  And, while millions lost their homes & savings, individual avarice and naivety are also to blame.  How then did the worst financial crisis since the Great Depression occur?  An excellent esoteric question that is answered in entertaining layman terms by blue chip actors and a solid gold supporting cast.  Of course, therein lies the enigma.  Can a movie of such disasterous and droll dynamics be educating & engaging?  Yes. The film is based on the book by best selling NonF writer Michael Lewis and directed with intensity & humor by Adam McKay (headwriter at SNL.)  Still, we feel a guilty pleasure watching the fast paced film knowing the calamitous fallout for so many.  We follow the few clever outsiders who discerned what others chose to disregard (and as a result, benefitted financially.)  The movie breaks down in simple terms (with some sexy cameos) how the banking bond business, tied to enticing, accessible mortgages was built on a house of cards.  In hindsight, how was it that only a handful were astute & asking the right questions?  The fraudulence and stupidity is audacious.  The superb ensemble cast portraying the actual players is led by Steve Carrell, Ryan Gosling, Christian Bale & Brad Pitt.  "Corrupton, embezzlement, fraud, these are all characteristics which exist everywhere.  What successful economies do is keep it to a minimum." (A Greenspan)

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