Imagine a casino. Inside the casino there is a crowd around a single roulette wheel. Instead of thirty-eight numbers on a roulette wheel, imagine there are a million numbers. Then imagine people betting a huge amount of money on a single number. The casino is happy to take all bets because they don’t see how they can lose.
And then someone hits big.
This is what the Big Short is. Housing was considered the safest investment since the 1930’s. The banks packaged loans into mortgage backed securities and CDO’s and synthetic CDOs. A few bright minds bought credit default swaps against it, and won.
Huge wins. Like buy a private island big.
The movie goes a long way to explain all of this to us. Margot Robbie and Selena Gomez are used to simplify it for the viewer. We watch Steve Carrell and Christian Bale and a few others figure out the fraud of Wall Street and what they go through to be on the right side of the bet.
The movie has a ton of star power and the acting is convincing. I particularly enjoyed Brad Pitt’s role as a disgruntled ex-banker who has a thing for post-apocalyptic preparation. For a better movie on the financial crisis, I recommend Margin Call.
GUEST HOST: RICK RHINESTONE FROM RED RHINESTONE CAPITAL
This movie gives Wall Street a bad wrap. The financial engineers are not to be blamed for any of this. The problem were those infomercials telling people to buy houses with no money down and flip-that-house television shows that filled ordinary americans with dreams of richness. Here is a hint people: If you want to get rich, follow me at RED RHINESTONE CAPITAL where you can get in on the ground floor of Red Rhinestones we received from a Prince from Nigeria (who was down on his luck when we came into contact with him and needed our help!). These red beauties are certified by the Prince himself and for a low price of $299.99 you too can get your hands on the best quality red rhinestones in the world! Imagine this. You are cruising the streets with the top down and the wind in your face and you or your lover is rocking the biggest red rhinestone in town. Imagine going to your High School reunion and telling stories of how you got the inside deal on the lucrative red rhinestone market. Call me. Matt has my number. (FACT CHECK: I have Rick’s card, which he shoved under my door much like the Chinese Restaurant Menu from Mr.Wang’s down he street)
Movie Rating: 7/10