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Thread: The Big Short

  1. #1
    Read The Clue Bearcata's Avatar
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    The Big Short

    This is a movie about the mortgage/housing bubble that caused an economic crash, brought the big banks down and basically had the American public bail the banks out and the banks are starting to sell the same financial instruments again that caused this world wide mess.

    It was not what I was expecting. It came across as a mock documentary. I did like how they explained complex financial instruments so it was easy for Johnny Public to understand. The acting was good. With the large cast not one actor had to carry the film so it comes across like a series of cameos. I did like the film but I do not think it is the best picture of the year like I heard on the radio today.
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

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    Re: The Big Short

    Thanks for the review, Bearcata. I've been looking forward to seeing this movie. Still boggles the mind how very few of these white color crooks never paid a price and got away with the spoils. We can thank our congress for that.
    You can't have everything....where would you put it?

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    Read The Clue Bearcata's Avatar
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    Re: The Big Short

    Quote Originally Posted by Punkin View Post
    Thanks for the review, Bearcata. I've been looking forward to seeing this movie. Still boggles the mind how very few of these white color crooks never paid a price and got away with the spoils. We can thank our congress for that.
    Shocked me too, the movie goes over that and I was amazed that only one person actually went to jail for this. We all know the banks paid themselves huge bonuses with the bail out money but they also used the bailout money to lobby congress successfully to not put through any reforms that they wanted to do to regulate the banking business. We paid for that. Talk about making fools of the American public.
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    FORT Fanatic cavendish's Avatar
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    Re: The Big Short

    The misleading impression (if I may use that overworked phrase) that the movie gives is that somehow the banks used TARP money to lobby congress not to regulate the industry. The thing is, these mega-institutions just as one of their self-perceiving functions (in the interest of shareholders etc etc) lobby congress to pass legislation that is good for banks, and against any regulation, oversight, etc of their money-making operations. Since the decision was made not to take over the banks-- and in order to keep them--and our whole economy-- afloat there need to be huge subsidies--- they continued on. Therefore, it was business as usual, lobbying congress to water down legislation or to pass favorable bills. That the TARP money was used for this is in a sense then not the point-- because they simply continued their customary practices, one of which is to lobby congress on their own behalf.
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    Read The Clue Bearcata's Avatar
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    Re: The Big Short

    Quote Originally Posted by cavendish View Post
    The misleading impression (if I may use that overworked phrase) that the movie gives is that somehow the banks used TARP money to lobby congress not to regulate the industry. The thing is, these mega-institutions just as one of their self-perceiving functions (in the interest of shareholders etc etc) lobby congress to pass legislation that is good for banks, and against any regulation, oversight, etc of their money-making operations. Since the decision was made not to take over the banks-- and in order to keep them--and our whole economy-- afloat there need to be huge subsidies--- they continued on. Therefore, it was business as usual, lobbying congress to water down legislation or to pass favorable bills. That the TARP money was used for this is in a sense then not the point-- because they simply continued their customary practices, one of which is to lobby congress on their own behalf.
    huh?
    "When life gives you lemons, squirt lemon juice in your enemy's eyes."

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    FORT Fanatic cavendish's Avatar
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    Re: The Big Short

    Well, I'm trying to make a distinction between using whatever funds they have at their disposal, which happened to be TARP money, and there being something unusual about the TARP money per se that allowed them to use TARP money for giving executives higher bonuses and lobbying congress more than usual. I'm just saying that banks always lobby congress for favorable legislation, and that therefore if they exist, they will be lobbying congress, as part of their perceived responsibility to their shareholders-- There's nothing so shocking about their doing that-- unless you're shocked by how banks are run. It's really the ordinary business of banks-- and our whole system-- because all corporations use a lot of money to lobby congress for favorable legislation-- that's the problem.

    But it's not as if it's a mark against TARP that they did that. That's all I'm saying. If you're going to blame the bailout for the lobbying-- then in effect, you're just saying you don't believe the banks should have been bailed out and should instead have been allowed to fail, or should have been nationalized. There's a valid argument about whether TARP or failure/nationalization would have been better-- of course.

    Also the Dodd/Frank legislation is in fact a very strong bill-- and has had a significant impact on how banks run. So their lobbying although it was not ineffective didn't stop meaningful legislation from being passed.

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    FORT Fanatic cavendish's Avatar
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    Re: The Big Short

    As an aside, I really detested the BIg Short movie, and actually left before the end. I guess I'm just too much of an old-line feminist to find it at all amusing that a blond in a jacuzzi with a glass of champagne (ie probably not-too-bright arm candy of rich banker or hedge fund dude) tells me about the banking industry. It's not "cute" imo. Plus that the scene in the strip club at the beginning could have made the same point without going so far, the fact that the two people shown giving aspberger-guy big money to bet against the market are a snooty (ie uppity) woman and a black (East Indian, to dress it up) guy. Plus that messed-up guy is shown basically hanging up/ignoring his nagging/"tell me your feelings" wife. Which offensive stereotypes about women have I missed? I'll bet there were others after I walked out.

    I;m trying to remember the name of the fallacy where you describe a quality (like being boring), but fall into the same quality on your own (your description is boring). This movie did that with misogyny.

    But I guess the movie did a good thing in trying to education the public about some of the details of the financial crisis.

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    Re: The Big Short

    I didn't think I would like this, as I thought I had seen everything there was on the financial crisis and I will admit the first 30 minutes did not impress me but then I got sucked in and at the end I actually thought it was a good movie
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