Anyone see the movie "The Big Short." Wall Street and their role in the us housing bubble

[theplowboy]

I watched it over the Easter weekend and was sickened by the corrupt behaviour of the wall street crowd.

It is worth watching and is a little scarey how close we came in 2008 to a global financial meltdown.

Anyone else see it

[Grahamp]

Read the book, have always been a big fan of Michael Lewis. Wall Street well they are Wall Street so no big surprise there. The two things that I took away was amazement at how few people thought there was a serious problem. I mean today everyone claims that they forecast it but very few people had the conviction to back there beliefs with money. The second is just how gut wrenching a trade you believe in with all your heart can be when no one else believes you and it is moving against you. I remember reading about a few guys that blew out shorting the first Internet Bubble in late 99 early 2000. They ran out of money with absolute conviction. In the Big Short the Dr. is so impressive. He just plows ahead risking reputation, his fund, even his lifestyle. You have to admire that courage.

[blackpowder]

Great movie. Should be required in some schools.
Sometimes the only difference between success and failure is timing. Knowing when to hold/fold.

[bucket]

Watched it twice.

They created a derivative to short the market.

Thin air.....not that the mortgages were not worth more than toilet paper.

Good thing hillary says the money was all paid back ..... also by thin air.

Never mind the social issues ... hey hillary the puppet?

[LWeber]

The global derivatives market is increasing every single day.

There were NO lessons learned from 2008 other than Governments willingness to sacrifice people's freedom and liberty (property) via legislation.

Whether the derivatives market is 10 times the World GDP or 45 times - that is the range of guesses - 770 trillion to 3.4 quadrillion dollars - it cannot or will not have a happy ending.

When it implodes - the housing market stumble, will be a walk in the park.

If you think you can time the demise of a bank, commodities trader or financial institution – more power to you. I cannot.

Derivatives are out of control. When a major player is publicly in trouble, the first thing I look for is their marked to market derivatives exposure. The largest mining derivatives trader’s recent headlines should be required reading for everyone.

Today, U.S. banks have 250 TRILLION dollars of derivatives exposure. How they are balance sheet managed according to GAP is in my opinion untested and ineffective.

Derivatives based on the 2008 housing market that was clearly overstated had what as an under-lying asset base?

Let's develop an index of an index of an index...and trade it and see how it turns out.

Now tell me - when can they really stop printing money when it is an end game for so many.

But, what do I know. I just read this drek everyday ... now I qualify for tinfoil too.

[cottonpicken]

Ultimately the derivative market evaporates surprised it still has value now. If your insurance on your asset is worthless what is the asset worth. That is pretty worrisome to those that track this stuff. Anybody that buys debt especially jap is also buying a default swap and probably a little extra the naked stuff.

This house of cards only has a few more years left in it

[SASKFARMER3]

Yes I did watch it on the Easter weekend. Enjoyed how it was written and Yes it is scary how corrupt the system is and how no one learned a fricking thing.

[perfecho]

Have watched, blows your mind that we can be so addicted to markets/money that these sort of things are allowed, encouraged to keep the "economy" going.....

[mustardman]

Thank god we had Paul Martin as finance minister when he refused the Canadian Banks from getting in on the gambling mentality that was happening south of us

[sumdumguy]

Paul Martin and Cretien.

[farmgal71]

Good movie...we watched it a few nights ago. I didn't think I would like it but was surprised by the acting and story.

[cottonpicken]

To anyone paying attention at the time it was the most obvious thing in the world. And lots and lots of people seen it.

What people should be doing now is looking at what those same people are saying now.