The Big Short-rm
You probably know that this movie is not about pants or the measurement of peoples’ height. It is about one of the largest financial meltdowns in this country’s history and how much of it was because of some behind-the-scenes financial trickery carried on by Wall Street insiders. It is based on a book by Michael Lewis which we have not read, although M.B. did read and recommend another book by him, Flash Boys which is about a different type of financial manipulation carried by some Wall Street people
In The Big Short, Christian Bale plays Michael Burry, a real person who is a brilliant, somewhat peculiar guy, maybe Asperger type. He actually was a physician who ended up as a chief of a large financial fund. He studies numbers very carefully and concludes that the mortgage market which has always been thought to be reliable and dependable, is on the verge of collapse. The reason for this (now this is the tricky part) is because hundreds or maybe thousands of mortgages have been lumped together in mortgage bond funds that people buy and trade for the high interest rates that they generate. These funds include AAA mortgages, BB and C mortgages, the latter groups being known as subprime mortgages.
Nobody seemed to have noticed how fragile and vulnerable these mortgage funds are and that this house of cards was on the verge of collapse. That is except this one strange guy and a few other financial wheeler dealers who get wind of what’s going down. Once such team is led by a character played by Steve Carell, who continues to demonstrate his acting chops in serious roles. There are the usual excellent depictions of various key players by Brad Pitt and Ryan Gosling.
There are some riveting dramatic moments as the movie goer can get caught up in the impending crash. You may not fully understand exactly what is happening but don’t feel badly since most people didn’t either as it was really happening. When the dust cleared, this cost our economy over a billion dollars (this movie only cost $28 million). We hope that people who run and regulate our economy learned some lessons from this story, but that probably is not the case. Many people, though, will find this movie quite enjoyable although it may make you uncomfortable about the future. (2015)