ryoder 1,590 #1 March 17, 2016 It is now available for rental streaming on iTunes. http://www.imdb.com/title/tt1596363/ It is based on the book by Michael Lewis on the 2009 crash. I don't think I've ever seen a film done in this style. It ranges from educational documentary to drama to over-the-top satire, with actors frequently breaking the fourth wall. e.g. Steve Carell discussing mortgages with a stripper while she is giving him a private dance. Trailer https://www.youtube.com/watch?v=vgqG3ITMv1Q 88/88 on Rotten Tomatoes http://www.rottentomatoes.com/m/the_big_short/"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
Elisha 1 #2 March 17, 2016 I've heard good things about it, but my big question is: What's so great about it and/or why do it when "Inside Job" was done so well? Someone just wanted to make it "movie-fun"? Quote Share this post Link to post Share on other sites
ryoder 1,590 #3 March 17, 2016 ElishaI've heard good things about it, but my big question is: What's so great about it and/or why do it when "Inside Job" was done so well? Someone just wanted to make it "movie-fun"? It has been awhile since I saw "Inside Job", but it seems like there is material in it that IJ didn't cover, such as how the institutions were fraudulently keeping the price of the mortgage-backed bonds up (while the mortgages were collapsing) in order to keep from paying out on the CDOs. I also don't recall IJ explaining "synthetic CDOs". I must hand it to the film editors: It is really fast-paced! You never have a chance to get bored."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
Elisha 1 #4 March 18, 2016 Added to my queue after I finish Downton Abbey and GoT Season 5. Quote Share this post Link to post Share on other sites
Rstanley0312 1 #5 March 18, 2016 ryoder***I've heard good things about it, but my big question is: What's so great about it and/or why do it when "Inside Job" was done so well? Someone just wanted to make it "movie-fun"? It has been awhile since I saw "Inside Job", but it seems like there is material in it that IJ didn't cover, such as how the institutions were fraudulently keeping the price of the mortgage-backed bonds up (while the mortgages were collapsing) in order to keep from paying out on the CDOs. I also don't recall IJ explaining "synthetic CDOs". I must hand it to the film editors: It is really fast-paced! You never have a chance to get bored. The movie is excellent. For a very long time I was a part of that world and this film nails what was going on. I kick myself every day that I did not dig deeper during that time and realize the plays I could have made. Things are different now but they are also the same. CDO's (different name now) are being used again and subprime is coming back. We never learn. The key part of the film was revealing the ratings agencies and how much they are in bed with the big institutions. Even the right short took a lot of capital to weather serious losses bc of the corrupt system. Back then you had housing crashing but the inverse indexes did not move bc of the ratings agencies. Even with the education factor, the film is really well done and very entertaining.Life is all about ass....either you're kicking it, kissing it, working it off, or trying to get a piece of it. Muff Brother #4382 Dudeist Skydiver #000 www.fundraiseadventure.com Quote Share this post Link to post Share on other sites
wmw999 2,485 #6 March 18, 2016 I saw an ad yesterday about getting "the credit you deserve." I saw those in the 80's and the 2000's... We'll probably watch this tonight. Wendy P. There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown) Quote Share this post Link to post Share on other sites
Rstanley0312 1 #7 March 18, 2016 wmw999 I saw an ad yesterday about getting "the credit you deserve." I saw those in the 80's and the 2000's... We'll probably watch this tonight. Wendy P. Yup.... is right. Enjoy the flick.Life is all about ass....either you're kicking it, kissing it, working it off, or trying to get a piece of it. Muff Brother #4382 Dudeist Skydiver #000 www.fundraiseadventure.com Quote Share this post Link to post Share on other sites
JohnMitchell 16 #8 March 18, 2016 It's in the Redbox now too. Probably be my next rental. Quote Share this post Link to post Share on other sites
ryoder 1,590 #9 March 19, 2016 My curiosity got the better of me and I just bought the book for the Kindle app on the iPad."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
DougH 270 #10 March 19, 2016 Everyone was drinking the coolaid big time. I am a CPA that specializes in corporate taxes at a public accounting firm, so I sometimes get to peek inside some of these organizations. I was just starting in the industry just before the bottom fell out. I remember going out to a decent sized regional bank in the MA area. We were there to look at the tax calculation that was going to be presented in their financial statements. The bank president at the time was bragging about this new investment that he got the bank involved in, according to him it was outperforming the market. He was a proud papa of his new killer investment vehicle. He explained that the investment was a security the was made up of packaged sub-prime car loans. A CDO filled with shitty borrowers, and shitty cars! Take MY MONEY! At the time I asked him if it was a great idea to invest in a security that was comprised of people who couldn't pay their bills even in a good economy! At the time I was crazy, and I was wet behind the ears and had no idea what I was talking about. It was a great investment, and he couldn't comprehend the question. About a year later we found out who was drinking the crazy juice!"The restraining order says you're only allowed to touch me in freefall" =P Quote Share this post Link to post Share on other sites
GD64 1 #11 March 19, 2016 DougHEveryone was drinking the coolaid big time. Well, when Alan Greenspan head of the Federal Reserve insisted there was "no real estate bubble" what were those not on the inner circle to do? Rhetorical. DougHI am a CPA that specializes in corporate taxes at a public accounting firm, so I sometimes get to peek inside some of these organizations. As a former licensed developer, and licensed builder who was active during that era (30 plus projects) I dealt with the "banksters" (major banks, hedge funds, and what I call "mystery money".....LLC's from LLC's from LLC"s). Once they saw that you could pay them back in spite of many, many obstacles such as weather stops, material issues, strikes, protests over project (NIMBY) although approved by city councils, state, and some cases fed's, politicos of all stripes at all levels coming with their hands out, osha, epa, various "clean water" grifters, inspectors of all sorts, diversity requirements, and on and on......I guess I started reliving as I'm writing.......anyway I also saw a side to this lending cabal. In my case. my "skin in the game" was the project land had to be owned by me free and clear. After that $ was just a phone call away, and minimal faxed doc's "for the record". Fortunately, I kept all $ in the projects and not a new Ferrari or two. But I was also keenly aware that a major f-up that I couldn't cover, could possibly put me on the wrong side of a late night concrete pour.......those LLC's from LLC's? DougH']I was just starting in the industry just before the bottom fell out. I remember going out to a decent sized regional bank in the MA area. We were there to look at the tax calculation that was going to be presented in their financial statements. The bank president at the time was bragging about this new investment that he got the bank involved in, according to him it was outperforming the market. He was a proud papa of his new killer investment vehicle. He explained that the investment was a security the was made up of packaged sub-prime car loans. A CDO filled with shitty borrowers, and shitty cars! Take MY MONEY! Doug, this is the question that actually made me want to post (above post of life experience .....just flashing back ...I guess?......what is your current take on the sub-prime car loans ( according to some reports 48% of all car loans), combined with $1.5 trillion in outstanding student loans, and a reported $1 trillion in USA credit card debt, AND numerous reports of that perhaps another "real estate bubble" being near, as well as the $20 trillion national debt and the $150-$200 trillion in unfunded pensions and benefits nationwide? I'm not trying to be doom and gloom here (although it could seem so), I'm just looking at your personal take on the issues considering your experience and background. How do you think all of this will look going forward? One thing I have learned is politico's can't/won't do "numbers". [quote "DougHAt the time I asked him if it was a great idea to invest in a security that was comprised of people who couldn't pay their bills even in a good economy! At the time I was crazy, and I was wet behind the ears and had no idea what I was talking about. It was a great investment, and he couldn't comprehend the question. About a year later we found out who was drinking the crazy juice! Quote Share this post Link to post Share on other sites
ryoder 1,590 #12 March 21, 2016 I just finished the book. I must give kudos to the film makers; The most startling and funniest scenes in the film were right out of the book! Much dialog was verbatim. On the very last page of the book, under "Acknowledgements", I found this gem: A 2009 thesis written by a 22yo Harvard undergrad, which analyzes what happened, and which Michael Lewis credits as being his best technical source. A brief interview with the Harvard student: http://www.nbcnews.com/video/dylan-ratigan-show/36088862#36088862 The thesis: http://www.hks.harvard.edu/m-rcbg/students/dunlop/2009-CDOmeltdown.pdf"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
GTAVercetti 0 #13 March 21, 2016 Watched it last night. Loved it but I am glad I did not see it in theatres. I had to keep pausing it so I could go look up more details about CDOs, CDSs, mortgage bonds, etc. Yeah, I know they are explained in the movie, but I wanted more detail cause I am nerd like that. Took me about 4 hours to finish it. Why yes, my license number is a palindrome. Thank you for noticing. Quote Share this post Link to post Share on other sites
ryoder 1,590 #14 March 21, 2016 GTAVercetti Watched it last night. Loved it but I am glad I did not see it in theatres. I had to keep pausing it so I could go look up more details about CDOs, CDSs, mortgage bonds, etc. Yeah, I know they are explained in the movie, but I wanted more detail cause I am nerd like that. Took me about 4 hours to finish it. I did likewise in the film, and even more while reading the book. One thing I am still researching is the collateral issue with CDSs. These are apparently analogous to margin calls on stock options. There is a situation in the book involving them that is hilarious, and really should have been in the film. Hell, I wish the film had been done as a mini-series so it could have included more of the book."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
Rstanley0312 1 #15 March 21, 2016 ryoder ***Watched it last night. Loved it but I am glad I did not see it in theatres. I had to keep pausing it so I could go look up more details about CDOs, CDSs, mortgage bonds, etc. Yeah, I know they are explained in the movie, but I wanted more detail cause I am nerd like that. Took me about 4 hours to finish it. I did likewise in the film, and even more while reading the book. One thing I am still researching is the collateral issue with CDSs. These are apparently analogous to margin calls on stock options. There is a situation in the book involving them that is hilarious, and really should have been in the film. Hell, I wish the film had been done as a mini-series so it could have included more of the book. Welcome to my former world... F'd up! It is all happening again by the way. The film is right about that. There are tighter restrictions but they loosen by the day. It's pretty scary.Life is all about ass....either you're kicking it, kissing it, working it off, or trying to get a piece of it. Muff Brother #4382 Dudeist Skydiver #000 www.fundraiseadventure.com Quote Share this post Link to post Share on other sites
JohnMitchell 16 #16 March 22, 2016 Rstanley0312 Welcome to my former world... F'd up! It is all happening again by the way. The film is right about that. There are tighter restrictions but they loosen by the day. It's pretty scary. This is what sucks, that the regulators turn a blind eye, again, to the wolves of Wall Street and to the banks. And all of us sheep get fleeced (or eaten) again. Quote Share this post Link to post Share on other sites
Rstanley0312 1 #17 March 22, 2016 JohnMitchell *** Welcome to my former world... F'd up! It is all happening again by the way. The film is right about that. There are tighter restrictions but they loosen by the day. It's pretty scary. This is what sucks, that the regulators turn a blind eye, again, to the wolves of Wall Street and to the banks. And all of us sheep get fleeced (or eaten) again. Bingo. If you live in that world there are ways to "win" but for the normal guy/girl.... bend over, here comes another. It's kind of like our food.... nobody really knows what's in it. Life is all about ass....either you're kicking it, kissing it, working it off, or trying to get a piece of it. Muff Brother #4382 Dudeist Skydiver #000 www.fundraiseadventure.com Quote Share this post Link to post Share on other sites
JohnMitchell 16 #18 March 22, 2016 We really need another president like Teddy Roosevelt, someone who carries a big stick and loves to bust up toxic trusts. Quote Share this post Link to post Share on other sites
ryoder 1,590 #19 March 24, 2016 I just started reading the book that jumpstarted author Michael Lewis's career: "Liar's Poker". It is about his time fresh out of college, working for Salomon Brothers. Well, this paragraph caused me to do a double-take: To be fair, art was only the start of my problems. It didn't help that I had flunked a course called "Physics for Poets" or that my resume listed bartending and skydiving as skills. Born and raised in the Deep South, I had never heard of investment bankers until a few months before my first interview. I don't think we had them back home. He is about 55yo now. Anyone know anything about his skydiving?"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
