The national government needs you not to fall

Rahul 2022-12-08 11:33:16

This movie deeply describes the process of the subprime mortgage crisis in the United States in 2008, mainly through the bankruptcy of Lehman Brothers, the fourth largest investment bank in the United States, to describe the actions of the US government and the investment industry in the face of the subprime mortgage crisis.
Documentary shows the bankruptcy of Lehman Brothers and the US subprime mortgage crisis and possible financial crisis. It well reveals that the U.S. government, major investment banking companies (Morgan Stanley, Goldman Sachs, Merrill Lynch) and commercial banks (Bank of America, Barclays, Citibank) struggle for their own interests, play against each other but rely on each other. complex relationship. And behind these complex relationships, the ultimate goal is to achieve national interests and reflect the national spirit. Among them are the participation of well-known side players such as the Federal Reserve, American International Group (AIG), and Buffett. It is a good work that allows ordinary audiences to have a preliminary understanding of the knowledge of the American financial system. It can also be regarded as a teaching film for practitioners who are new to the financial industry.
In addition, if you are interested in such topics, you can also watch another documentary "Inside Job".

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Extended Reading

Too Big to Fail quotes

  • Richard Fuld: [on the housing crisis] You know, people act like we're crack dealers. Nobody put a gun to anybody's head and said, "Hey, nimrod, buy a house you can't afford, and you know what? While you're at it, put a line of credit on that baby and buy yourself a boat."

    Joe Gregory: [chuckles] You heard anything from Buffett?

    Erin Callan: He's asking for preferred shares at 40, with a dividend of nine percent.

    Richard Fuld: [annoyed] We were just at 66. What the fuck?

    Joe Gregory: Maybe it's just an opening gambit, Dick.

    Richard Fuld: Sounds more like a goddamn insult!

    Erin Callan: Dick, we're at 36 right now. We haven't been anywhere near 66 in months. The markets like Buffett. His name will push the price up overnight.

    Richard Fuld: You know, I don't care who he is. I am not spending $360 million a year for the pleasure of doing business with him. Real estate will come back.

    Joe Gregory: Koreans have been sniffing around.

    Richard Fuld: There you go. And they won't steal us blind. I've seen this before: CEOs panic and they sell out cheap. Right now, the Street's running around with its hair on fire, but the storm always passes. We stand strong, and on the other side, we'll eat Goldman's lunch.

    Erin Callan: So what do we do about Buffett?

    Richard Fuld: Screw Warren Buffett.

  • Ben Bernanke: [Having breakfast with Henry Paulson] Lehman's down another 10%.

    Henry Paulson: You are not gonna let me get down a single bite, are you?

    Ben Bernanke: This is why I have oatmeal.