For this assignment, I decided to review the movie The Big Short. Based on the book by author Michael Lewis, “The Big Short: Inside the Doomsday Machine”, the film was released in 2015. Directed by Adam Mckay and written by Mckay himself and Charles Randolph, the film is rated as an American biographical comedy-drama. The film had a large cast of A-list actors such as Christian Bale, Brad Pitt, Steve Carell, and Ryan Gosling, and. Overall, the movie had a $133.4 million box office revenue on a budget of $28 million. The film focuses on three separate storylines that follow the actions from it in the years that lead up to the collapse of the 2007 housing market. The Great Recession was from December 2007 to June 2009, where unemployment was …show more content…
It’s what you know for sure that just ain’t so.” Then as the movie progresses, one of the main characters by the name of Jared Vennett played by Ryan Gosling, starts off by breaking the “fourth wall” where he reveals to the audience on how the world of banking was “boring” until things changed when a man by the name of Lewis Ranieri created a plan that changed the world of banking. The plan that was created by Ranieri was for mortgage backed securities to ensure bigger profits with lower risks since everyone was paying their mortgage …show more content…
He is one of the few that understands Burry’s plan and quickly acts on it. By a simple misplaced phone call, Vennett is introduced to Mark Baum who is played by Steve Carrell. Baum is Front Point hedge fund manager. Vennett’s witty pitch to Baum and his team is a comedic where he explains on why the housing market will crash. According to WIKI, “Vennett explains that the market collapse is being further perpetuated by the packaging of subprime loans into collateralized debt obligations (CDOs) large enough to be considered AAA
2007-2008-2009 global financial crisis - many people compared to the experience to another large scale depression - now coined “great recession”
Throughout history there have only been two major economic downturns. The Great Depression and the Recession of 2008 both occurred due to poor financial policies and excessive spending. Both events left people with a sense of hopelessness and vulnerability. A comparison of the Great Depression Era and The Recession of 2008 reveals similarities in causes and effects economically, socially, and politically.
The different characters in the film are given different resolutions. Mark Zuckerberg becomes the youngest billionaire in the world. The Winklevoss twins receive a settlement of 65 million dollars and sign a non-discloser agreement. Eduardo Saverin received an unknown settlement believe to be 5% of Facebook with his name restored on Facebook masthead as a co-founder. Sean parker is busted in a party where underage girls and drugs were involved. That outcome came in as Mark’s Reward (Vogler, 2007), however his return with the elixir at the end of the film lies on an open end yet making him one of the strongest person or a hero in the real world. Without Aaron Sorkin’s Oscar winning screenplay, the film would have not gained that fame, and attention to detail.
It can be argued that the economic hardships of the great recession began when interest rates were lowered by the Federal Reserve. This caused a bubble in the housing market. Housing prices plummeted, home prices plummeted, then thousands of borrowers could no longer afford to pay on their loans (Koba, 2011). The bubble forced banks to give out homes loans with unreasonably high risk rates. The response of the banks caused a decline in the amount of houses purchased and “a crisis involving mortgage loans and the financial securities built on them” (McConnell, 2012 p.479). The effect on the economy was catastrophic and caused a “pandemic” of foreclosures that effected tens of thousands home owners across the U.S. (Scaliger, 2013). The debt burden eventually became unsustainable and the U.S. crisis deepened as the long-term effect on bank loans would affect not only the housing market, but also the job market.
There are famous people all around and their fans are loving every second of it. The fans' faces are full of joy and awe as their favorite actors and actresses enter the large building that will soon be showing the new movie. Soon, the two people that everyone in Hollywood is dying to see, appear in their stretched Rolls Royce and bring the crowd to its feet. As Lockwood and Lamont exit their luxurious ride they are received lovingly by everyone. They walk to the front of the building and are introduced to the crowd.
What caused the Great Recession that lasted from December 2007 to June 2009 in the United States? The United States a country with abundance of resources from jobs, education, money and power went from one day of economic balance to the next suffering major dimensions crisis. According to the Economic Policy Institute, it all began in 2007 from the credit crisis, which resulted in an 8 trillion dollar housing bubble (n.d.). This said by Economist analysts to attributed to the collapse in the United States. Even today, strong debates continue over major issues caused by the Great Recession in part over the accommodative federal monetary and fiscal policy (Economic Policy Institute, 2013). The Great Recession of 2007 – 2009 enlarges the longest financial crisis since the Great Depression of 1929 – 1932 that damaged the economy.
“The wolf of wall street.” Dir. Martin Scorsese. Perf. Leonardo DiCaprio, Jonah Hill and Margot Robbie. Paramount , 2013.Film.
The Great Depression was a very difficult time in American history. The Great Depression was the longest and most severe depression that was experienced in the Western World. The movie Riding the Rails is a good example of times during this depression. The movie presents a story of ten men and women in their youth, who gave their accounts about leaving their homes in search of a better life. I think Riding the Rails gives a very clear and accurate view of how life was for young teenagers during these historical times.
The observer can see this through the explicit cinematography of the movie and depiction of the Great Depression made by the director. However, the director left out a key aspect of the events of the depression, the stock market crash. Perhaps, this catastrophic event was irrelevant to the plot and message of the movie, but it is important to the actual Great Depression of the United States. Furthermore, the nation of 2010 is well on its way to repeating history. There are frightening similarities between that dreadful time of the 1930’s and the present that should not be overlooked, or the United States might condemn itself back into that horrific state it has so long tried to avoid.
What started these tragic ten years were really the events categorized under ‘economic factors’. The economy went into a downward spiral, first, with the Stock Market Crash of October 29, 1929, nicknamed “Black Tuesday” (PowerPoint). The cause of this was actually many factors all happening within a few months. Many companies went bankrupt from overproduction of goods and started stockpiling them. They assumed the economy will keep rising like it did during the “Roaring Twenties”; but when Europe started to mend from the destruction of the war, the demand for products went down. In addition, on October 29th, the value of the stocks became overpriced, and everyone wanted to sell while they were ahead. The sheer number of stocks on the market lowered their value so much, that the price afterwards was only a fraction of what it was before. However, it was not just the Stock Market Crash that overturned the economy, but the farmers also had trouble coping. In the early 1930’s, a massive drought swept through the prairies and the central US, killing off anything that...
Michael Lewis is the author of “The Big Short: Inside the Doomsday Machine” and Lewis’ main theme, or the main point, that he is trying to get across is how the 2008 financial crisis came to be, who saw it coming, and how people reacted. Lewis has experience with Wall Street and has worked for Salomon Brothers when he was younger. Today, Lewis is an American non-fiction author and financial journalist. There were three things I highly enjoyed “The Big Short”: the character development, themes, and personalization.
The Wolf of Wall Street produced and directed by Martin Scorsese tells a story of Jordan Belfort, a stockbroker living a luxurious life on Wall Street. Due to greed and corruption, Jordan falls into a life of crime and abusive activities. Belfort made millions of dollars by selling customers “penny stocks” and manipulating the market through his company, Stratton Oakmont, before being convicted of any criminal activity (Solomon, 2013). Jordan reveals behaviours and impulses all humans have, however, on an extreme level. This movie illustrates “why ethics is another tool whose importance cannot be overstated” (Delaney, 2014). Without ethics and morality, individuals can never truly live an honest and happy life.
Benjamin Franklin Gates, played by Nicolas Cage, comes from a family of treasure hunters. When he was young, Gates found out that his family’s job is to guard a treasure hidden by the Founding Fathers. The hidden clues lead to the whereabouts of the country's currency and a crucial clue can be found on the back of the Declaration of Independence. The only problem is that the clues are highly cryptic and are scattered all over the country. After an initial clue from Gates’ grandfather, he heads to a sunken ship, the Charlotte, in Alaska where he believes the treasure is. He is disappointed when it only leads to another clue located on the back of the Declaration of Independence. To make matters worse, Gates has found out that one of his partners, Ian Howe played by Sean Bean, is going after the treasure as well. In order to protect the treasure, Gates decides to warn the proper authorities of the planned robbery. When nobody believes him, Gates is forced to steal the document with the help of his sidekick Riley Poole played by Justin Bartha. The movie’s motto helps describe this situation perfectly by stating “In order to break the code, one man will have to break all the rules.”
The timing of this film was a significant factor in the story line. In the middle of the Great Depression unemployment and poverty were a major
This movie starts off as Jordan Belfort, the main character in the movie, losing his job as a stockbroker in Wall Street. After losing his job, he goes and gets a job in a Long Island brokerage room. In the brokerage room, he sells penny stocks. Thanks to him being aggressive in his selling skills, he was able to make a profit. With the new income, he gives his wife a bracelet and she asked him why doesn’t he go after the people that can afford to lose money, not the middle-class people or lower income people. That is when he gets the idea to get a lot of young people and train them to become the best stock brokers.