Title: The Big Short - Trailer Source:
[None] URL Source:[None] Published:Apr 6, 2016 Author:The big short Post Date:2016-04-06 01:14:53 by Pinguinite Keywords:None Views:327 Comments:8
I watched this movie last night. I wasn't sure I'd actually do more than see the beginning but it grabs you. It goes beyond outlining the collapse of the housing market in 07-08 by illustrating the complete failure of the PTB's to do the right thing in preventing it. From the big banks having monopolizing control, the SEC with compromised personnel, self-serving fund managers, real estate agents rewarded more for selling sub-prime mortgages and even the ratings agencies all had a financial motive not only to look the other way in the years leading up to the crash, but even continue to do so as the crash was unfolding.
Most ominous is the final note of the movie that the same practices that lead to the 07-08 crash are being repeated.
It's informative and decently entertaining. A bit longer than most movies at a bit over two hours long but worth a watch.
the same practices that lead to the 07-08 crash are being repeated.
The boom & bust practices are inherent in a for-profit capitalist society whose minions are always looking for the fast buck. Owners are happy to sell at a greater price than they originally paid and oblivious to the higher cost of the next home, higher price means bigger commissions, local governments collect more taxes to pay bureaucrats higher salaries and pensions, banks collect more revenues from higher-priced homes which require longer term mortgages. Once house prices reach ridiculous levels, some event triggers a collapse and sharpies pick up bargains at rock bottom prices. No one realizes that a home, like food, needs to be a right, once built remains family property free of any taxes; costs of municipal services coming from tax on income.