What is the problem that Steve Carrell (Mark) points out in that meeting? I'm having trouble understanding the concept. And why was that problem important in creating the financial crisis?
Explain it to me like I'm 5, I dont get the grasp of the whole bussines thing.
>>70315562
Refresh me as to what he said and i will ELI5 so you TIL
>>70315562
You can't extract wealth endlessly via government programs and shady collateralization practices. Eventually everything will correct itself and everyone will lose.
>>70315562
The whole point of the movie is that it literally spoon feeds you the information
>>70315562
Which meeting? Because the movie literally stops and has a pretty girl explain it to you so I'm honestly curious how you could still miss the point.
>>70315562
What meeting? He's always in a meeting.
>>70315562
Basically lots of people were taking out mortgages that they couldn't afford, but the banks lent to them anyway because it was making them money. Investment banks packaged up thousands of mortgages into single bonds, which were constantly being bought and sold by investors. Eventually too many people defaulted on their mortgages which completely devalued the bonds and caused the collapse of the housing bubble.
It was a house of cards.
I once heard someone say this was a comfy movie. Is that true? How?
Did Bale have autism
Does it mean I have autism if I act that way
>>70315801
Its not only that, the banks were packaging b and c loans in bonds and having them rated aaa.
Also its more they gave loans to people who wouldnt be able to pay the payment once the intro apr went up. Thats the thing that got people. It wasnt explained that their payments would go up.
I assume hes talking about the synthetic CDO's and the discussion Carrell has in Vegas (which honestly went over my head)
>>70317995
>It wasnt explained that their payments would go up.
Yes it was.
You know how it was explained?
>And after the introductory rate, the rate will adjust in accordance to your lifestyle!
>>70316660
>Burry is married, with children, and currently lives in Saratoga, California.[5] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder.[5][13][3]
>>70315562
This movie was so fucking preachy
>>70320217
why?
>>70315611
Except the end showed thats rxactly what happened cos the governmebt bailed them out
>>70320217
Id say it wasnt preachy enough.
The financial system is totally corrupt, and the movie only denouced it with a footnote
>>70315801
What's defaulting? Is that like going bankrupt, but without a company?
>>70322072
Yes basically.
You cant pay off your debts
