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  • Essay / "The Big Short Movie: Summary

    The Big Short Movie begins with a narrative from Ryan Gosling's character Jared Vennet, which provides a somewhat sardonic introduction to the seemingly boring world of banking. However, this setup is the prelude to the summary of the film "The Big Short" which reveals a captivating and complex story. The plot gains momentum with Lewis Rainieri's invention of mortgage-backed securities, a system designed for greater profits with seemingly lower risks, assuming that people reliably paid their mortgages. This was a success for the bankers, but then it was in 2008 that the financial crisis occurred. We then meet Michael Burry, played by Christian Bale, a glassy-eyed hedge fund millionaire. Michael Burry wonders why the housing market rose when the tech bubble burst in 2001. He hires an analyst and asks him to compile a list of the 20 best-selling mortgage bonds. Say no to plagiarism. Get a tailor-made essay on '. Why violent video games should not be banned?Get original essayMark Baum is another protagonist in this film. This character is played by Steve Carell. He hates people who work in big banks because his brother committed suicide being a victim of them. His wife Cynthia, played by Marisa Tomei, really wants Mark to resign because she thinks it is not healthy for him to work in such a degraded work environment and because her brother committed suicide because of that. In the meantime, Michael Burry takes a look at the list of the 20 best-selling mortgage bonds. He realizes that the real estate market is supported by high-risk loans made to clients who have lower returns, then decides what he can bet against and profit from the real estate market. Burry then goes to different banks, where he mentions that the bonds will fail and create a market for credit default swaps. The bankers thought he was crazy and they completely disagreed, they thought the bonds were safe. Vennett (Ryan Gosling) discovers Burry's (Christian Bale) deals and then meets with Baum and his team of investors to propose the idea of ​​the credit default swap. After Vennett left, Baum and his team took very seriously what Vennett presented. Next, we're introduced to Charlie Geller and Jaime Shipley, two hopeful investors who wanted to meet someone from JP Morgan Chase. But these two don't have an ISDA agreement that limits them. They listened to a speech by Vennett about how the housing market was a bubble and decided to bet against the housing market as well. They do this with the help of Ben Rickert, played by Brad Pitt, a rebranded trader. In early 2007, it was reported that mortgage fraud had reached a new peak. Risk advisors tell Baum and his team to abandon their swaps. Baum forces Daniel to tell them to go to hell. The two meet with Georgia Hale, an official at Standard and Poor's, and criticize her for giving banks AAA percentages on high-risk loans. She defends herself by saying that banks will default if she doesn't have these ratings, and Baum criticizes her actions, but she responds that he and his team have several credit default swaps. In April 2007, everyone was preparing for the financial crisis. Michael Burry prevents investors from withdrawing their money, leading to multiple lawsuits. Geller and Shipley speak to the press intending to warn them of the coming financial crisis, but no one cares and no one is interested in the story. Baum and his team are urged to abandon or sell their