goddamn this movie is confusing. Can anyone clarify what is going on in this movie?
Rich assholes getting richer
weren't you paying attention to the celebrity cutaways explaining it? fuck off moron, pay attention next time
>>83031108
Capitalism 101
4 people see the falling housing market in the united states and invest against it. Getting rich off of stupid bankers and investors giving triple a mortgages to people who blatantly could never afford them. Profiting off of the unfortunate.
>>83031137
This
Fuck this gay movie
>>83031108
this is a movie I saw but can't even remember
It actually is made difficult to follow for no reason
What happened was very simple, but the movie tries to obfuscate the issue for some reason.
long story short, bankers are making bad loans to home buyers who can never pay them back and then repackaging those loans and selling them on the market as AAA rated debt. These bad loans are called NINJA loans be because the debtor taking out the home loan typically had No Income No Job or Assets
They sell these loans to gullible idiots who lose all their money when it turns out that the loans are trash but were rated as AAA debt by credit rating agencies. It's no different then a guy selling you fake Rolex watches on the side of the road.
This used to be called securities fraud, but it became perfectly legal in the US due to lack of regulation or policing of financial markets.
>>83031230
Everyone with more than two brain cells on wall street saw it coming
They just didn't care because they knew they'd get bailed out and that they would get bonuses AND that no one would go to jail.
And that's exactly what happened.
>>83031108
Econ prof here
The book is much better. The movie is fine, but partisan when it shoehorns in Bernie propaganda.
If you're interested about the subject, Too Big to Fail is a very well done movie with based Paul Giamatti
>>83031473
Bob Dylan said it best; "All the criminals in their suits and their ties, are free to drink martinis and watch the sunrise."
>>83031404
>this movie is confusing
>>83031108
>made difficult to follow
You're joking, right? The movie actually went out of their way to explain in very simplistic laymen terms. You two must suck at this english comprehension thing.
>>83031473
most of the losses at big banks happened because credit products went crazy and they were levered as typically those instruments move very slowly. maybe they knew the housing market was in a bubble but i dont think they foresaw the collapse of lehman and the ensuing panic. it all happened pretty fast and i highly doubt the mood was "gee its all gonna be okay cause there will be bailouts"...people on trading floors were seriously pricing in the possibility that the banks would be nationalized