I hate to admit it but i've watched The Big Short about 30 times since I bought it....about 2 months ago. This is a piece of history, 2006 up to the crash in 2008 touched everyone world wide. Whether or not you knew it, some piece of your future changed when Wall Street started to fail. This is so well done with such wonderful acting you will want the DVD rather then just downloading it to your set top box. If you are a stock trader or maybe a psychology student you will be drawn to watching The Big Short repeatedly. I've only purchased one DVD this year, and this was it!
For my money, this is the best, yet most disturbing movie I have watched the past year. I wish it would have won the academy award for Best Picture. My personal hero came to be Steve Carroll's "Mark Baum"- FrontPoint Partners hedge fund manager - a character based on the real-life Steve Eisman. The idealistic Mark Baum is relentless in his pursuit of ferreting out the truth behind Deutsche Bank bond salesman Jared Vennet's claims that at Deutsche Bank and others, bank fraud was in place that would cause a collapse of the housing market and ruin the lives of millions of average Americans as its pawns. (The real life inspiration for character Jared Vennet is Deutsche's Greg Lippman)
The movie begins in 2005, when (real life) Silicon Valley hedge fund manager Dr. Michael Burry (played by Christian Bale) discovers that the U.S. housing market is extremely unstable, being based on subprime loans that are high risk and providing fewer and fewer returns. Predicting that the market will collapse sometime in the second quarter of 2007, he realizes that he can profit from this situation by creating a credit default swap market, allowing him to bet against the housing market. He visits several major banks and investment dealers with this idea; these firms, believing that the housing market is secure, accept his proposal. This earns the ire of Burry's clients who believe that he is wasting their money and demand that he stop his activities, but he refuses.
Deutsche Bank's Trader Jared Vennett (Ryan Gosling) hears of Burry's actions from one of the bankers he dealt with, and soon realizes that Burry's predictions are likely true. He decides to put his own stake in the credit default swap market. A misplaced phone call alerts hedge fund manager Mark Baum (Steve Carell) to his plans, and Baum is convinced to join Vennett. The two discover that the impending market collapse is being further perpetuated by the sale of collateralized debt obligations (CDOs), groups of poor loans that are packaged together and incorrectly given AAA ratings due to the conflict of interest and dishonesty of the rating agencies.
When Baum attends the American Securitization Forum in Las Vegas, he learns of the existence of synthetic CDOs, making what is described as a chain of increasingly large bets on the faulty loans. Baum realizes, much to his horror, that the scale of the bank fraud against the American public will cause a complete collapse of the economy. Baum's business partners convince him to go through with the credit default swaps, profiting from the situation at the banks' expense.
As we know in the end, Deutsche and the other banks' fraud did indeed ruin of millions of Americans' lives - just like Vennett's demonstration game of Jenga gone horribly wrong. I've included photos of the real Michael Burry, Steve Eisman, and Greg Lippmann alongside their Big Short characters. Again, in my opinion, this should have won Best Picture. YOU WON'T BE DISAPPOINTED!
Another deserving movie that helps to show the corruption fallout that ruined so many average Americans' lives at a personal level is "99 HOMES." It demonstrates the banks' fraud in robbing millions of Americans of their homes in orchestrated defaults by the loan servicers and banks. Prior to very recent Supreme Court rulings, the lower courts just ignored the defrauded homeowners' pleas that the defaults were often rigged, (including payments refused so the loan servicer could claim "non-payment" and bogus "forced placed insurance fees" that immediately put the owner into default, even though they actually had their own insurance in force ). Careless judges wrongfully have helped the defrauding banks and loan servicers to rob hundreds of thousands of innocent people of their homes. Pay attention as Dennis pleads to the judge that the servicer told him not to pay his mortgage for 2 months so that he could qualify for a modification. That is indeed one of the scams they perpetrated against homeowners. Then instead they tacked on so many bogus fees the homeowner couldn't meet them, and would also deny the modification application and foreclose. 99 HOMES can be purchased here on Amazon, and like The Big Short, is an intensely good portrayal of how these corrupt banks brought down the American economy, and wreaked devastation on so many innocent people.
The actual film is fantastic. As someone studying economics, it is always fun to see your studies made a little more entertaining.
However, the case did arrive cracked and cannot close as a result. That was a bit of a bummer. I would give it five stars otherwise.
Michael Lewis has wrote many great books including Moneyball, The Blind Side, Liar's Poker, The Undoing Project, Flash Boys and of course The Big Short. Every one of his books has the potential to become a movie. The cast in this movie is among the best of all time. With Brad Pitt, Christian Bale, Ryan Gosling and Steve Carrell starring in the film. As a Finance major the film was both entertaining and informational. The book is just as good.
Do not buy this! I received mine and the digital code inside showed that it expired March of 2018. Amazon was kind enough to send a replacement but it had the same expiration date for the code. These expiration dates should be included on the product page and clearly disclosed by the studio.
I love the movie. That’s why I bought the DVD. Specifically, what sold me was access to a code that unlocks streaming on digital platforms. Unfortunately, my code has apparently been used. Perhaps someone previously bought my particular Big Short from Amazon, unwrapped it carefully, used the code, re-packaged the product and processed a return. In turn, Amazon may have unknowingly sent me this blue ray with the used code. Either way, the DVD is useless to me if I’m not able to affiliate a digital version to my online platform accounts like Vudu. That’s the reason I made the purchase in the first place.