Check out the trilogy "The Big Short", "Steal Yourself" and "Too Big to Not"

Flo 2022-12-01 09:45:38

All trilogy got. Because Micheal Burry watched "The Big Short", Burry is also the voice of this game station. The Big Short is the easiest of the three and has the strongest sense of story. When it comes to the most empty success, it means that the country is facing an unimaginable crisis. At that moment, I was also horrified. "Guarding Yourself" is divided into 5 stages. As a documentary, the context is clear. I agree that he mentioned manufacturing in the latter paragraph. At least in the current Sino-US trade, it can be confirmed that basic manufacturing is very important for major countries. "Too Big to Fail" is the most elite of the three films. It is also in line with the oatmeal he said in Bernanke's "Courage to Action", and he gave me the impression that the academic school is not as tough and stylish as Greenspan, and even a little weak.

The third department hopes that I have time to discuss the arguments and timelines of all parties. I don't know what to learn though haha. Obviously, even if you understand the meaning of the movie after watching these three films, it is still difficult to digest. If you don't have a little financial knowledge, it is not easy.

But overall, what I feel more deeply is:

1/ Whether it is an investment bank or a government agency represented by the Fed’s Treasury Department, they all display a human side and are reluctant to admit their mistakes. Seeing the signs of mistakes, it is difficult to admit at the moment, and this sign will lead to the whole body. Only as the hole gets bigger and bigger, I will make up for it but not necessarily admit my mistake.

Especially the CEO of Lehman, dick, I don't like him in any movie. It is said in "Stealing Yourself" that he has a private jet, and he usually takes a luxury car to the company, and goes straight to the private elevator to the 31st floor. The time between him and other employees does not exceed 10 minutes. And, with super high salaries. When it came to "Too Big to Fail", I tried to sell the junk assets of real estate to Koreans. I disliked Buffett's low price and always thought that the government would wipe his ass for him. Arrogance and greed, I want Lehman not to fall, he will be more arrogant and greedy! Intensified and arrogant!

2/ Wall Street salaries are really too high. High enough to distort human nature. At the end of the movie, it can be seen that these big investment banks are more worried about their own compensation system being restricted than the systemic risks they cause to the country. People at the bottom really look down on it. But from another point of view, whoever reaches that stage, how many people can rest in peace. Only by implementing a benign system from beginning to end can we not be imprisoned by evil habits as a yoke. People get rid of habits that have not been long-standing.

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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.