The Big Short

I haven't seen the film, but I have worked in finance (primarily asset management) and can say from my experience that yes, people in this field really are that dishonest. The finance industry disproportionately attracts scumbags: people who are greedy, money-loving, selfish, sabotaging, narcissistic.

>>1020640
For background, one of my previous bosses is serving a prison sentence for securities fraud and I think there's enough evidence to indict another one of my previous bosses for the same if the SEC felt inclined. The one who's now in prison stole less than $20 million which is minor compared to Bernie Madoff but major for the families who lost their retirement and education funds.

>>1020640
So they consciously know that they are scamming people while putting up a facade? How do they live with themselves?

Are the majority of these poeple well-versed in finance?

>>1020652
And what might be the probability of him getting employed again? Are there employers who actively search for people with records like this?

>>1020655
>So they consciously know that they are scamming people while putting up a facade?
Yes, absolutely. You don't just accidentally walk into pulling off a fraud. These schemes are intentional, methodical, and meticulously planned.

>How do they live with themselves?
They are self-centered people who lack empathy. What's chilling is that there are plenty who do not get caught.

>And what might be the probability of him getting employed again? Are there employers who actively search for people with records like this?
Zero chance of being employed in the financial industry. Most people convicted of egregious securities fraud are permanently enjoined from the securities industry. He can get a non-financial job once out of prison but not many employers want to hire convicted felons.

>>1020627

Watched it online couple nights ago.

It's pretty accurate besides the fact that the Hebrews are once again looking to put themselves in the shoes (by having Jews act the part) of the superior intellect that is pure European.

My favorite actor in the movie had to be Christian Bale. Least favorite was that big mouthed faggot in the top right corner of your pic who has a framing square for a nose.

you know, bale looks like he could be mark cuban.

>>1020692
>disliking Steve Carrell
>Ever
lol why?

Financial markets are a zero sum game.

>>1020664
>>1020655
Over-generalization.

I know a lot of sales/trading guys at big firms and hedge funds (mortgage guys at that, since we're talking about big short)

There are a lot of assholes and a lot of greed, but to say that that makes up the entire population is wrong. Some people make their money just through their reputation of being good guys, so accounts will actually interact with them.

Other guys don't go off reputation entirely, but make their money without scamming people.

Point is, not everyone is horrible - there are good guys, but there are definitely scumbags. This is true of all professions though.

Download it, watched it, I didn't understand about 80% of it even when they tried to dumb it down for the audience. More of a movie fir people actually in finance or something.

>>1020770
There definitely are some good people in the financial industry and I never said otherwise. But as I mentioned in >>1020640 I think it's undeniable that the financial industry attracts a disproportionate number of scumbags.

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>>1020627
>My question is: are people in this field really THAT dishonest?
It's a fine line between not telling the whole truth and being actually dishonest.

The problem in the finance is that you don't make much money if you serve any dumbfuck the whole truth complete with a self study course including all public and private information you posses about a given thing and the rationale why you buy or want to sell it to him

>>1020627
>Did anyone see this? I personally liked it:
It's pretty gud, but I liked the (audio) book better.

Seems prone to sociopathy to me. Reductionist morality that turns people and assets into numbers games and not much else. More of a symptom of corporatism generally.

it's a good movie but it's liberal propaganda

>I just know the same people are gonna be blamed for this like they always are, poor people and immigrants!

>>1020791
that was, like, two times in the movie and in the last 15 minutes.

Not liberal propaganda.

>>1020781
ilooooove your jew meme xDDD

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For the next year, we are going to have teenagers asking how to get into structured products which bet against entire financial sectors.

Hilariously this will also come with another Christian Bale character, but this time with aspergers.

>>1020770

>#NotAllBankers

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The book and film are built on bullshit to create a compelling narratives that fits nicely into a film. I appreciated Bale's portrayal though.

http://www.nakedcapitalism.com/2015/12/debunking-the-big-short-how-michael-lewis-turned-the-real-villains-of-the-crisis-into-heros.html

http://www.forbes.com/sites/timworstall/2015/12/20/where-krugman-goes-wrong-about-the-big-short/

>>1020868
This isn't Jezebel/Tumblr.

>>1020772
Hah!
Gay!

>>1020929
This forbes article missed the entire point of the big short. The whole book was about how banks were wrong and then hid the information from the public.
Just like Christian Bale's character, no one looked at the data and said "this isn't as diversified."

The narrative is exactly what happened. Some people, who loved numbers, wanted to get rich or inherently hated the big banks, found ways to ride a falling knife.

Don't trust forbes contributors about general ideas. It is obvious from his writing that he just wanted to get clicks and hit the wave of "big short" talking.

>>1020627

> Are people in finance dishonest?

were you born yesterday?

My GOAT careers of scum:
1) Insurance reps
2) Finance reps and managers
3) Civil attorneys

>>1020627
>My question is: are people in this field really THAT dishonest?

erm... yes

especially people in sales, structurers etc...


a friend of mine works in commodities and they managed to make a million on a single deal selling a product to a client that was basically made up of exchange traded options

if clients are 'unsophisticated' banks will be very keen to rip them off in any way they can

>>1021031

Go back to reddit faggot

>>1021036

>Its immoral to let a fool keep his money

I guess i dont have a victim mentality like you. Every Time ive bought something overvalued or made a bad buy I blame myself not the person selling it

>>1021046
Being deceived is not the same as buying a 50 dollar mug

>>1021054

Agree, fraud is wrong, but when a buyer buys something that isnt in his best interest .... O well

>>1021043

sales rep detected.

how's your soul treating you anon?

Not a bad film. Pretty entertaining.

You just can't fight against mass stupidity.

Even after they get bitten in the ass and baseball batted in the face by it; still it continues.

>>1020931
>joke
>
>
>
>you

>>1021082
this.

The final statement in the movie was the biggest shocker.

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>>1021082
>>1021516

Hollywood produces Communist propaganda, what a shocker. I bet you thought Trumbo was profound too.

>>1021524
this was not communist propaganda.

This film was completely anti-governemtn and pro-capitalism.

any line of work that involves lots of money / power will attract dishonest people. just like law, politics etc.

>>1020791
>blaming poor and immigrants

Blaming poor is not true, but blaming immigrants is historically what people do in times of scarcity.

Its a very simple thin the herd behavior that keeps civilization afloat. When there are suddenly less resources then people naturally become more territorial. Suddenly its no more caring and sharing, instead the herd draws together and treats anything outside its number as a threat.

This is basic tribalism not liberal propaganda. Unless your going to claim reality and history have a lefty bias.

>>1021579
>blaming immigrants is historically what people do in times of scarcity.

Gonna need a source for that, faggot.

>>1021579
>Unless your going to claim reality and history have a lefty bias.

Or maybe 'your' citing history selectively to support your left wing bullshit.

>>1020868
kek

>>1021600
>Gonna need a source for that, faggot.
Literally any major disruptive event in human history