Posted on 01/13/2016 3:59:12 PM PST by randita
We just saw The Big Short. It was an interesting and entertaining movie. The language was pretty coarse, but I've no doubt that's the way those high rollers converse. It was s serious subject, but there were many humorous exchanges.
Most of the bad guys were hit pretty hard blame wise (banks, lenders, rating agencies), but there was no mention of the role of government policy over many years (Community Reinvestment Act and Fannie Mae/Freddie Mac) in leading to the subprime mortgage crisis.
Surprisingly, Bush wasn't blamed!
I did take issue with the observation at the end that minorities and poor people rather than banks ended up getting blamed for the crash.
The movie did a good job of explaining how the whole system was rigged and banks knew they were "too big to fail" and that there would not be penalties to pay. How true.
If you've seen the movie, feel free to comment.
True but they couldn't conceal the fact that the bailouts happened. What's the greater evil, the frauds at every layer of the system or the perversely incentivizing government bailing them out with money wrought out of thin air?
No it was glaringly obvious: "...they know and they just don't care..."
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