Movie The Big Short (about the housing market crash)

[mikekle]

I rented this movie last night, has Christian Bale, Steve Carrell, Ryan Gosling, and a few others in it. I was amazed at how this all went down and how a few people out there saw it was coming and how the banks did not see any of it.

Although I didnt understand why everyone hated the Doctor that thought to bet against the housing market in the first place, in the end, he made a 489% profit, $2.7 billion dollars, seems like they would have all loved him for making them this much money.

 

[GEddie]

I rented this movie last night, has Christian Bale, Steve Carrell, Ryan Gosling, and a few others in it. I was amazed at how this all went down and how a few people out there saw it was coming and how the banks did not see any of it.

Although I didnt understand why everyone hated the Doctor that thought to bet against the housing market in the first place, in the end, he made a 489% profit, $2.7 billion dollars, seems like they would have all loved him for making them this much money.

Haven’t seen it yet, sounds interesting

 

[7_Sorrows]

it was a very good movie. I would like to watch it again because I am sure I missed a few things. it was a complicated movie to follow with some of the vocabulary related to banking and housing. I live in one of the states hardest hit by the real estate market collapse and it was devastating to live through. the market is starting to rebound now and prices are going up, but it was difficult to watch at one point when my house was worth less than what I had paid for it in 1989 and I lost $300, 000 in equity practically overnight. to see so many people lose their homes or walk away from their homes was really sad. I felt like our government let us down in a a way because there should have been something to prevent the banks from doing what they did!
I wish these men had gone on every radio show and news program to warn the rest of us what was going to happen! so they might have gotten really rich, but they are not heroes to me.

 

[mikekle]

it was a very good movie. I would like to watch it again because I am sure I missed a few things. it was a complicated movie to follow with some of the vocabulary related to banking and housing. I live in one of the states hardest hit by the real estate market collapse and it was devastating to live through. the market is starting to rebound now and prices are going up, but it was difficult to watch at one point when my house was worth less than what I had paid for it in 1989 and I lost $300, 000 in equity practically overnight. to see so many people lose their homes or walk away from their homes was really sad. I felt like our government let us down in a a way because there should have been something to prevent the banks from doing what they did!
I wish these men had gone on every radio show and news program to warn the rest of us what was going to happen! so they might have gotten really rich, but they are not heroes to me.

they were definitely not heroes, they just figured out a way to make a ton of money due to the bank and Govt not knowing what they were doing…or not caring what was happening.

If the Govt had not bailed them out, I dont think many people realize we would likely be living in a semi post apocalyptic world. It was also interesting to learn that doctor is buying into water left and right now too, I wonder if that will be the next big thing?

Did you notice in the end, that Dr tried to contact the Govt to be interviewed, so this could never happen again and NO ONE was interested?! That was amazing to me, its almost guaranteed to happen again, not with the housing market, but probably something else

7Sorrows, How do you feel about many of those banks used the bailout money, for lavish lifestyles, golden parachutes for top people, etc? That should have been criminal imo…but nothing was done??? I would think after this, police would be watching these folks like hawks, but something tells me, they are not.

 

[7_Sorrows]

they were definitely not heroes, they just figured out a way to make a ton of money due to the bank and Govt not knowing what they were doing…or not caring what was happening.

If the Govt had not bailed them out, I dont think many people realize we would likely be living in a semi post apocalyptic world. It was also interesting to learn that doctor is buying into water left and right now too, I wonder if that will be the next big thing?

Did you notice in the end, that Dr tried to contact the Govt to be interviewed, so this could never happen again and NO ONE was interested?! That was amazing to me, its almost guaranteed to happen again, not with the housing market, but probably something else

7Sorrows, How do you feel about many of those banks used the bailout money, for lavish lifestyles, golden parachutes for top people, etc? That should have been criminal imo…but nothing was done??? I would think after this, police would be watching these folks like hawks, but something tells me, they are not.

to be honest, when this happened I really lost faith in our government and then how everything was handled after that. nobody cared about the people losing their homes. there have been so many murder-suicides of comlete families or married couples who saw themselves as failures and got into financial trouble, lost their homes and saw no way out. I think the government didn’t want to interview the doctor because he made them look bad as well as the banks. I still get angry when I think what happened. I really felt sorry for the people who bought right before the collapse and then were upside down in their loans because the house was worth about $125, 000 and they had a $300, 000 mortgage or higher. Many of those peope just walked away and the market was flooded with foreclosures for the next 5-6 years.
I wish the doctor would write a book for homebuyers and let us know what to be looking out for the next time. somebody needs to interview him!

 

[didymus]

I rented this movie last night, has Christian Bale, Steve Carrell, Ryan Gosling, and a few others in it. I was amazed at how this all went down and how a few people out there saw it was coming and how the banks did not see any of it.

Although I didnt understand why everyone hated the Doctor that thought to bet against the housing market in the first place, in the end, he made a 489% profit, $2.7 billion dollars, seems like they would have all loved him for making them this much money.

I think it’s human nature to hate a Cassandra who turns out to be right.
Odd that he was called the Doctor, he basically diagnosed the “patient” as terminal and took out a life insurance policy, writing premium checks every months. If the crash had come much later he would have lost his shirt.

In the event he was right and made a fortune and he was portrayed as profiting from people’s misery.

I read the book, I’ll still have to watch the movie.

 

[7_Sorrows]

I think it’s human nature to hate a Cassandra who turns out to be right.
Odd that he was called the Doctor, he basically diagnosed the “patient” as terminal and took out a life insurance policy, writing premium checks every months. If the crash had come much later he would have lost his shirt.

In the event he was right and made a fortune and he was portrayed as profiting from people’s misery.

I read the book, I’ll still have to watch the movie.

Was the book written by the doctor?

 

[mikekle]

I wish the doctor would write a book for homebuyers and let us know what to be looking out for the next time. somebody needs to interview him!

They did say at the end, the only thing Burry is involved in now, is buying water futures (commodity), I think that shows what the next crisis will be.

Did you understand why all of the doctors investors were still mad at him? That one major investor Lawrence, the one that threatened to sue him when he found out how much he had invested, that man received 489 million dollars in profit from the doctors foresight…along with many other investors, why would they all be mad at him for making them so much money??

 

[didymus]

Was the book written by the doctor?

No, it was written by Michael Lewis who also wrote several other books about Wall St, starting with Liar’s Poker. Two of his other books have been made into movies; Moneyball and The Blind Side.

 

[7_Sorrows]

No, it was written by Michael Lewis who also wrote several other books about Wall St, starting with Liar’s Poker. Two of his other books have been made into movies; Moneyball and The Blind Side.

okay. thanks for the info!