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Archibald 2022-09-03 12:40:50

It's been 17 years since I saw this film, and I don't know much about the financial crisis at my age. In the past, "Stealing Yourself" gave me a great shock, and I saw the financial industry move the whole world. Although it is a negative pry. "Stealth and robbery" tends to put the blame on the financial industry, whose greed led to the crisis. From the perspective of then-U.S. Treasury Secretary Hank Paulson, the film tells how the Treasury Department rescued Wall Street and how these banks became the behemoths they are today.
The story of the film is very shallow, and it only shows some of the methods used by the financial industry and the Ministry of Finance to face the crisis, and it is a well-known method. It's not so much a movie as it's a reenactment of the news clips from the financial crisis, followed by brain supplements. It doesn't make much sense.
Under the operation of the market economy, the economic crisis is bound to come. Over the years, whether it is regulation, restructuring, etc., it is always unavoidable. China is also heading for a crisis, people are seeing a real estate bubble, and people are still flocking to real estate. Just hope this strong government avoids an economic cliff.
For companies that are too big to fail, breaking up may be a good idea. Unfortunately, legally, "too big to fail" is not a reason for splitting.
Recently, Huishan Dairy's Hong Kong stock market fell by nearly 90%. Shenyang's first decision was to save the market, and 40,000 employees could not lose their jobs instantly. Huishan was unable to repay the Bank of China due to a shortage of capital chains, drawing scrutiny. True and false news appeared in the market. Among them, the embezzlement of 3 billion yuan for real estate speculation in Shenyang was the most popular. Everyone expressed their confusion. Are you stupid not to go to Beijing to speculate in real estate with 3 billion yuan? Last year, a listed company lost money, sold the house in Beijing and made a profit. Huishan is not the first, nor will it be the last. When companies are at risk, they think that the government will rescue the market, and the government has indeed used a lot of power to rescue the market, so why should the market be needed? In the 2016 stock market crash, when the stock market rose wildly, everyone entered the market one after another. When the stock market began to dive, everyone put their hopes on the country to save the market. In the end, the people who were trapped said they were "taking the offer for the country". But the stock market is risky, and you need to be cautious when entering the industry. Everyone will carry it! The government in a market economy is not omnipotent, and under this economic size, it cannot be a guarantee for the capital market. Since the establishment of the capital market, there has been a group of people who want to plunder wealth. Capital circulation and speculation go hand in hand in the market.
Too big to fail lies in the initial government's credit guarantee for enterprises.
Ps: When CIC people smoked on Wall Street, their expressions and actions reminded me of smoking big cigarettes.

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Extended Reading

Too Big to Fail quotes

  • Mack's Assistant: Tim Geithner's calling again.

    John Mack: Cover your ears. You tell Tim Geithner to fucking blow me. I'm trying to save my company.

  • Michele Davis: They almost bring down the US economy as we know but we can't put restrictions on how they spend the $125 billion we're giving them because... they might not take it!

    [the Assistant Secretary of the Treasury for Public Affairs upon hearing that the 9 bank CEOs may refuse to take free money from the federal government if they had to be held accountable for how they spent it]