little view

Shakira 2022-12-10 00:03:06

Even though I have a foundation in economics, I still find it difficult to watch this film. After all, I just learned the theory. Although I have heard the teacher talk about the 2008 US subprime mortgage crisis countless times in the classroom, when I face the reality, I really admire the finances. The minister's decisive decision, time and time again. The film tells the story of the global financial crisis that broke out in 2008, with U.S. Treasury Secretary Hank Paulson as the main clue, recording the decisions and actions of the powerful figures who decided the fate of the world's largest economy within a few weeks.
Not from the literary aspect, I really think this film is quite good. It fully describes the various efforts made by the top executives in the United States during the subprime mortgage crisis. First of all, the real estate industry in the United States is seriously froze. Everyone is busy making money. Banks Also, they lend to savers with insufficient credit index to buy real estate, but they did not expect that when the bubble burst, most of the loans could not be collected at all, and they only owned a bunch of properties that could not be realized. At the same time, the Minister of Finance himself also proposed his own Wrong, no one supervises the credit market in the financial industry, because everyone
was busy making money at that time... but he regretted it when it came out.
After watching the whole film, there is a faint feeling that unity is strength. It is a bit ridiculous to say it, but in fact, if you analyze it slowly, you will find that it is true. Everyone is working hard to restore the financial market. Only the entire economic circle If you are healthy, then each individual in it will be able to function better, otherwise there will only be collapses one by one. As shown in the film, after the collapse of Lehman Brothers, market panic and credit stagnation occurred, and the other nine major banks were also unable to Insurance, and even related to the insurance industry, the entire Wall Street. If Congress hadn't agreed to print money to give the market confidence, it's hard to imagine what would have happened if the subprime crisis had fully erupted and affected the entire world... Thousands of banks and businesses of all kinds failed , I do not know how many people will lose their jobs and starve to death on the streets.

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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]