I saw this film recently at River East and it's a serious movie about the mortgage crisis. A number of individuals in this movie portrayed by actors Christian Bale, Steve Carell, and Ryan Gosling had the foresight to bet against the subprime mortgage market.
There are some hilarious aspects of the movie to explain the mumbo jumbo explained during the course of the movie. Many of us likely won't understand the Wall Street language as far as this mortgages it needs to be put in layman's terms.
Either way we do get the message about how these mortgages have made many of these players wealthy and how far down it went until some of the players on Wall Street began to suffer for their mistakes. Bad terms for these loans and not only the people who took up these loans suffer, also those who either invested in this market or who sold these loans.
As we saw in the movie and in real life about 2008-09 two investment houses eventually closed up shop because of this collapse. Lehman Bros. and Bear Stearns essentially no longer exist.
Now I only wish I had the ability of Dr. Michael Burry who owned his own fund and although not trained or educated in finance knew enough to dig and found a reason to bet against the subprime mortgages. People thought he was nuts but in time figured out he was right and got their rewards to.
No comments:
Post a Comment
Comments are now moderated because one random commenter chose to get comment happy. What doesn't get published is up to my discretion. Of course moderating policy is subject to change. Thanks!