>>64729890 Which industry? Finance or film-making?
Also, I haven't seen it yet, but the trailers made it look like the guys were really sticking it to the banks for the little guy! But...they're hedge fund managers...by definition, making money for wealthy, sophisticated investors. It's not like they went and paid off a bunch of mortgages to keep them from getting foreclosed, they just made a bunch of money by seeing something other people didn't see or chose to ignore. Is that what it's like, or does the film make it clear that these guys were basically just making money for themselves and other rich people?
How much did each of them make at the end of the film? Gosling got like 58 million, right? American Psycho made 458% (I think) the initial liquidity of like...1.3 Billion? The two guys made 80? Did Carrell make anything?
Though he suffered an investor revolt before his predictions came true, Burry earned a personal profit of $100 million and a profit for his remaining investors of more than $700 million. Scion Capital ultimately recorded returns of 489.34 percent (net of fees and expenses) between its November 1, 2000 inception and June 2008. The S&P 500 returned just over two percent over the same period.
I do not like how the movie almost completely glossed over the politicians that had a hand in the problem.
It was governments that were putting pressure on the banks to supply loans to "immigrants and lower income individuals" for home ownership, under threat of cutting off support. This caused an influx of risky loans to people who could never have possibly paid them back on paper, and would be ill-prepared to handle any sharp increases in interest rate - forcing them to default.
Then when the shit hit the fan, it was the White House that bailed out the banks THAT SUPPORTED THE DEMOCRATS ONLY - all of which used that bailout cash to give their own executives massive bonuses for nothing.
In hindsight, no matter the cost - it would have been wiser to allow the system to collapse. Because we did not, the politicians went free and the housing bubble is already showing signs of a return.
Also, nobody makes more money these days than Hollywood. Them making a movie about the "horrors of evils of wall street" as they sit in their Hollywood mansions outsourcing special effects work to Korea can kiss my ass.
>>64731119 Here's the thing though: while many poor people did default, most of the defaults actually came from speculators who we're renting out tons of homes without the capital to deal with the ARM rate rises. Remember that guy in the movie whose landlord wasn't paying the mortgage despite the guy paying his rent? There were tons of landlords just like that. The myth that it was mostly poor people is what the banks came up with so they could blame the big bad government instead of accepting responsibility.
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