As Harvard student Mark Zuckerberg creates the social networking site that would become known as Facebook, he is sued by the twins who claimed he stole their idea, and by the co-founder who was later squeezed out of the business.
A con man, Irving Rosenfeld, along with his seductive partner Sydney Prosser, is forced to work for a wild F.B.I. Agent, Richie DiMaso, who pushes them into a world of Jersey powerbrokers and the Mafia.
The story of Dick Cheney, an unassuming bureaucratic Washington insider, who quietly wielded immense power as Vice President to George W. Bush, reshaping the country and the globe in ways that we still feel today.
Three separate but parallel stories of the U.S mortgage housing crisis of 2005 are told. Michael Burry, an eccentric ex-physician turned one-eyed Scion Capital hedge fund manager, has traded traditional office attire for shorts, bare feet and a Supercuts haircut. He believes that the US housing market is built on a bubble that will burst within the next few years. Autonomy within the company allows Burry to do largely as he pleases, so Burry proceeds to bet against the housing market with the banks, who are more than happy to accept his proposal for something that has never happened in American history. The banks believe that Burry is a crackpot and therefore are confident in that they will win the deal. Jared Vennett with Deutschebank gets wind of what Burry is doing and, as an investor believes he too can cash in on Burry's beliefs. An errant telephone call to FrontPoint Partners gets this information into the hands of Mark Baum, an idealist who is fed up with the corruption in the ...Written by
Jeffry Griffin was an extra on set for the day. He was pulled out of the crowd to play Jared Vennett's assistant, Chris. Later, his role was expanded to two weeks of filming, sharing every scene with Ryan Gosling. See more »
After Mark Baum returns from Vegas, Cynthia says to him, "You're not a saint. Saints don't live on Park Avenue." At the end of the movie, when Mark is speaking on the phone with Vinnie, he is clearly on the west side of Central Park. Park Avenue is on the east side. See more »
Is this America's angriest hedge fund?
All right, listen. I've got one last question for you. How are you fucking us?
There's a nicer way to say that, Vinnie.
I'm serious. We'll buy your swaps, but only if you say how you're fucking us.
I'm not fucking you, Vinnie. I'm kissing you. I'm looking deep into your eyes as I make love to you, Vinnie. I'm handing you the deal of the century on a fucking platter. What do I get out of it? Easy. I've got a 20 million a month negative carry. I've got bosses ...
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Tú Y Tu Mirar, Yo Y Mo Canción
Written by Oscar Germain De La Fuente
Performed by Los Angeles Negros (as Los Ángeles Negros)
Courtesy of EMI Music Chile
under license from Universal Music Enterprises See more »
Harry Knowles once wrote a review of Das Boot that said the movie was so well made that you'd find yourself rooting for Nazi sailors trying to sink American ships. So here. You find yourself rooting for clever "outsiders and weirdos," as one of them puts it, who saw what nobody else wanted to see -- that an immense structure of mortgage based securities was doomed to collapse because it rested on the backs of subprime borrowers who couldn't support the weight and should never have been loaned the money. We have been taught by generations of fiction to identify with characters who are outsiders and rebels. Because these guys are smart, because they are antisocial and because they were laughed at by smug fools who believed the conventional wisdom, you identify with them, and you wait anxiously for their vindication. Then you realize that their vindication means the collapse of the American economy. They were the guys on the Titanic who knew what the iceberg meant and booked reserved seats in the lifeboats.
Michael Lewis, from whose book the movie was adapted, got his training at Salomon Brothers in the mid-80s, as mortgage based securities were being invented. (There's an early shout-out to Lew Ranieri, the Salomon trader who invented them.) As anyone knows who's read Lewis's memoir of those days, Liar's Poker, the culture at Salomon was that your job was to be smarter than everybody else in the bond market, understand values better, and know what other traders were going to do before they knew it themselves. If you were smart enough, you deserved whatever you took away from somebody less smart on the other side of the trade. That's why Lewis admires his protagonists and that, despite a thick coating of moral outrage, is the heart of the movie. The guys who shorted the housing market weren't any more virtuous or less greedy than the great majority of complacent, conventionally minded bankers who believed that the trees would keep growing all the way up to the sky. They just saw more clearly and had plenty of nerve and faith in their own judgment. If they had been wrong, as shorts often are, they and their clients would have been wiped out. When they turned out right, they took the money and kept it, even if some of them felt guilty about it.
I know somewhat about this area, having litigated some of the aftermath. The celebrity cameo explanations of subprime debt, collateralized debt obligations, and synthetic CDOs are not only simple but accurate -- the two involving Anthony Bourdain and Selena Gomez are downright elegant. The key concept of the credit default swap comes out nicely through the dialogue -- a chance to buy fire insurance on the house down the street just before it catches fire. There are a couple of more points that could have used the same thing, especially when people start talking about "FICO scores." It could also have been a little more clear that the eventual collapse was delayed because the smarter investment banks like Goldman finally woke up, saw it coming, unloaded their CDO inventory on investors who were still asleep, and cut their losses by buying swaps themselves. But this is a smart, entertaining telling of an outrageous true story. It deserves all the praise it has gotten, and maybe an Oscar for best adapted screenplay. If it teaches people without a financial background a little of what went on, it will be more than a momentary entertainment. But it will certainly entertain.
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