This movie is based on the "Big Short" novel written by Michael Lewis. It mainly talks about how several traders and hedge fund managers made a fortune during the economic crisis in the United States in 2008. The economic crisis in the United States in 2008 had a huge impact on me. At that time, three of the four banks on our street went bankrupt and were acquired by other banks, including my depository bank. The company where I bought life insurance also declared bankruptcy. Fortunately, It was rescued by the U.S. government that prevented it from going bankrupt. It is said that several European countries called the U.S. President to rescue the insurance company. This hit rate would be great if I bought lotto prizes. Is there anyone out there who is making a fortune during this time of crisis? Naturally I am very interested in this movie.
This movie is very entertaining and attractive. The film tells a complete story through the alternation of three independent stories.
In 2005, eccentric hedge fund manager Michael Barry (Christian Bale) discovers that the U.S. real estate market is extremely unstable as subprime loans have become highly risky and offer diminishing returns. . He predicted that the market would collapse sometime in the second quarter of 2007, and he realized that he could create a market for credit default swaps that he could use to counter the housing market and profit from it. He visited banks to sell them his idea. And those banks think the housing market is very safe. One bank accepted his proposal. But the bet angered Barry's clients, who thought he was wasting their money and asked him to stop betting, but he refused. Just as the collapse of the economy was approaching, his investors lost confidence and wanted to withdraw their money, but Barry provoked their anger by proposing a moratorium on withdrawals.
But, just as he predicted, it crashed at times and his investment generated a 489% profit.
Trader Jared Wynette (Ryan Gosling) hears about Barry's actions from his banker and quickly realizes that Barry's prediction is correct. He decided to put all his equity in the credit default swap market. Hedge fund manager Mark Baum (Steve Carlisle) accidentally learned of the plan and was persuaded by Wenette to join the plan. The two discovered that the collateralized debt obligations (CDOs) that were packaged together were rated AAA due to the evaluation of dishonest credit evaluators, and that large sales of such bonds (CDOs) would cause further disruption in the upcoming market. Collapse. In Las Vegas, Baum attended the American Securities Conference, where he interviewed the businessmen who created synthetic collateralized debt obligations. He realized that these fraudulent problem loans would cause a total collapse of the economy. Baum's business partners convinced him to profit from the credit default swap.
Young investors Charlie Geller and Jamie Shipley accidentally picked up Weinette's plan and decided to participate in this credit default exchange. Needing money, they enlist the aid of retired banker Ben Richter (Brad Pitt). Shipley and Geller were initially ecstatic, but Richter hated their celebration of the impending economic collapse. The two young men finally became frightened and tried to tip off reporters and their families about the impending disaster. In the end, they made huge profits, but they lost faith in the broken system.
Barry semi-retired and invested only in water, Baum refused to say "I told you so" to the outside world and continued his career, and Richter returned to his retirement, And Shipley and Geller tried and failed to sue the ratings companies. No one was arrested in the CDO bubble, and collateralized debt obligations were quickly sold out again.
Director McKay is best known for directing the comedy film "Anchorman." He is known for his sly films with seemingly silly self-deprecating humor. In the movie The Big Short, he also used many celebrity cameos, including Margot Robbie and Selena Gomez to directly explain "subprime mortgages" to the audience. Steve Carell in "Anchorman" plays Mark Baum, a financial prophet with a masochistic character. Finn.
Wittrock and John Macro play newbies studying hedge funds under the tutelage of Brad Pitt.
The clothes and hairstyles of the characters in the movie are older, like those from the 1990s. A lot of desaturated light was used in flashbacks to some of the characters’ backstories. But the narrative, intelligent dialogue, and great acting make this movie stand out. The movie truly reflects that all major banks were involved in subprime mortgage fraud crimes back then, and the U.S. government bailed out these banks at the expense of ordinary people.
The film uses both cinematic art and irrefutable facts to express people's anger, pessimism, and helplessness because these frauds may appear again in the future.
This movie can also be viewed as a financial textbook, which can help you understand how the 2008 financial crisis in the United States occurred.