During the Cold War, an American lawyer is recruited to defend an arrested Soviet spy in court, and then help the CIA facilitate an exchange of the spy for the Soviet captured American U2 spy plane pilot, Francis Gary Powers.
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.
Acting under the cover of a Hollywood producer scouting a location for a science fiction film, a CIA agent launches a dangerous operation to rescue six Americans in Tehran during the U.S. hostage crisis in Iran in 1979.
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
An assistant counsel for the Department of Financial Services played one of the extras in the scene. See more »
Michael Burry supposedly discovers the rising number of risky mortgages by going through a huge spreadsheet. However, the movie shows these defaults in a single text column with many blanks and an occasional colloquial description, such as "30 months" for how long a mortgage is overdue.
The spreadsheet has no additional column containing the number of months (or zeros for no defaults), by which Burry could sort the whole data set to observe this information, and sorting via the column shown won't work (since for example "5 months" sorts later than "40 months" alphanumerically). See more »
[on the phone]
Ok, I want you to walk back in there and very calmly, very politely tell the risk-assessors to fuck-off!
[Walks into the room]
Gentlemen, I just spoke with Mark Baum and he says to 'fuck off'.
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'The Big Short' is a winner. Based on Michael Lewis book of the same title, it tells the sorry story of the fraud and deceit practiced on the American people, nay, on the world by Wall Streets finance capitalism. We know the culprits: Goldman Sachs, JP Morgan, Lehman Bros., Morgan Stanley, Citibank, Wachovia, Crdit Suisse, UBS and on and on who invented financial instruments such as CDO, credit swaps and other fancy unintelligible names, based on mortgages, with the connivance of the credit agencies--Dow Jone, Standard and Poors and Fitch. 'The Big Short' with a light seriousness is a crash course on the duplicity of Wall Street investment bankers who earned large fees on junk bonds with triple A ratings; who bundled junk to palm off on an unsuspecting public looking for big gains by pandering to the snake oil exilir of getting rich quickly; and who feed on the niavety of the broad American have-nots with the dream of owning a home of their own. And so with some humor but much sadness are we lead through the byways of four different groups of bankers who saw the hoax for what it was and its impending implosion that would bring down the deck of cards of capitalism. And the took out bets on the market, by buying short. And they won big time! But the banks are still around, and the ratepayers footed the bailout, but at what cost! And we see this in the turmoil of the Republican party: for the discontent abroad in the US has thrown more than 25 percent of the population into poverty, loss of jobs, home, into heavy debt and no future for their children. And these banks have not reformed their ways...now they've come up with the same of gimmicks with a fancy name--something like beneficial financial tranche--as the play the same old mug's game. And like the Bourbons, t The cast is stellar--especially Christian Bale and Steve Carell and Ryan Gosling as well as the minor players. And like the Bourbons, in the words of Talleyrand, 'they learned nothing and forgot nothing', but the contempt they have for all of us. And to make the case stronger, the fools on the Supreme Court have strengthened the hands of big money and the oligopoly and the fat cats of Wall Street and the coupon clippers and the devil take the rest of us!
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