Even as a layman, this film allows you to understand the ins and outs of the subprime mortgage crisis. It was a seemingly stupid game, a completely avoidable disaster, and yet the highly intelligent elites of Wall Street and the Federal Reserve drove the ship of the world economy without hesitation to load this obvious iceberg.
A brief summary: Lending under financial supervision - Restricted lending for housing loans - Claims made into highly profitable financial derivatives - Derivatives sold better and better - Derivatives spread to insurance companies and pensions - Banks and insurance companies took the opportunity to speculate , increased leverage led to debt management——could not repay the mortgage and started bad debts——AIG and Lehman bankruptcy led to the outbreak of the crisis——the initiator retreated, and the toiling public paid the bill
The academic community classifies it as systemic financial risk. In my opinion, the so-called systemic risk is that individuals in the system only care about the immediate short-term interests, while ignoring the general direction and overall interests. Typical Western-style thinking, emphasizing personal liberation and profit-seeking. Everyone in the film doesn't seem to have clearly violated the law, but when the avalanche arrives, every snowflake is not innocent. As long as personal interests are maximized, no one makes long-term plans. "I don't want to pluck a hair to benefit the world." As an individual in the organization, it may be forgiven to be eager for quick success, but as the helmsman of the financial world and as the designer of the entire system, if you are also killing chickens and laying eggs, then there will be only one Equality and fraternity for short-term gain Freedom may always be just a distant utopia and fantasy Emphasizing that freedom and liberation will bring short-term and quick success
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