“The Big Short”, the movie the Conservatives don't want you to see. (short version)

[rhett o rick]

In 2008 the corrupt Wall Street culture experienced what was called a “crash”. I call it the great bank heist of 2008 where essentially 5 trillion dollars changed hands from the People (99%) to the Oligarchy (1%).

The movie “The Big Short” clearly shows how banks, insurance companies, and the great gambling houses called “investment” companies, gambled with our money and when they lost it, got it replaced with more of our money.

The Conservatives, including some Democrats, have been working for decades to undo the safe-guards set up to prevent this magnitude of “crash”.

Through lies, deceit, greed and incompetence, all came together in 2008. And those responsible got bonuses, again from our money.
I go into more detail in this post: http://www.democraticunderground.com/127710339

The bottom line is that if you want to continue the current culture of Wall Street corruption that will undoubtedly lead to another major bank wealth heist (crash), then vote for H. Clinton who has amassed a $50 million dollar personal wealth in this culture.

If you want to help the millions out of work, those kicked out of their homes, those struggling under crushing debts, those on Social Security, etc. then support the People's candidate, Senator Sanders.

[WillyT]

1. HUGE K & R !!! - THANK YOU !!!

[rhett o rick]

18. Thanks WillyT nm

[emsimon33]

2. Great film

It makes a complex subject both understandable and entertaining.

[rhett o rick]

14. Thanks for your reply. nm

[ProudToBeLiberal]

3. I saw the movie, but it was boring as hell. Though Steve Carell did some great acting.

It was never explained but, did Steve Carell character actually get rich at the end or was it only his investors?

[rhett o rick]

4. He got rich because he got a cut of the profits as a manager. I am sorry you found it boring.

I would hope it would open your eyes to the fact that this corrupt culture spans parties. The Clintons are well entrenched in this corrupt culture that some want to continue, ignoring the fact that we have 16,000,000 children living in poverty.

[ProudToBeLiberal]

5. So, in the end Christian Bale character made the most money because he was one of the first

to recognize the housing bubble? I think he made like 400 something percent for his company.

[rhett o rick]

6. I believe so. Also he risked the most. What I didn't understand

is that at one point his boss demanded him to sell out and give him his money back. But he didn't. How did he get away with not doing what the boss demanded?

[ProudToBeLiberal]

7. Well, it's a movie. I'm sure some parts were exaggerated.

I'm glad to hear he made a lot of money. He stuck to his guns.

[rhett o rick]

10. The way the movie portrayed it, Burry was the one to figure out that the bubble was

about to burst and he bet big. The others noticed the big bets and were smart enough to jump in.

As I mentioned in the other thread, I was rooting for Burry and the others that were going against the banks, but at the end I realized that they were just smarter but their "winnings" were tainted. Just because the took money from the crooks doesn't make the money clean. The money came from the middle and working class of Americans. IMO it's theft any way you cut it.

[ProudToBeLiberal]

11. So, you gonna force Burry to give it back? Come on man...he got it fair and square. Nt

[rhett o rick]

12. In a perfect world, yes. Millions lost their homes and are saddled with huge debts as

the banks, insurance companies, hedge funds, gambled with our money. The money the Burry got is dirty.
I know people that lost their homes, lost their jobs, and lost their retirements. 5 trillion dollars moved from the middle and working class into the hands of the super wealthy. I think there are a lot of people that would like to drag them all into the street and tar and feather them.

[Skwmom]

19. If anything, it was understated. n/t

[BlueStateLib]

8. managed accounts have a withdrawl clause

Joel Greenblatt (the guy who flew out to Burry and demanded his money back) was an investor in Michael Burry's Scion Capital and ran a different hedge fund as the director at Pzena Investment Management, a high-end value firm.

[rhett o rick]

9. Thank you very much. That clears that up. Burry froze withdrawls. I wonder if Greenblatt

ever thanked him.

[hill2016]

13. I don't think

Joel ran Pzena. You must be thinking of Gotham

[AzDar]

15. K & R

[bigwillq]

16. Great movie. A must-see. (nt)

[DirkGently]

17. Great movie.

Thought they did a good job of keeping it moving and keeping it interesting.

And it certainly clarified that "shadow banking" wasn't the source of all the shenanigans.