The Big Short (2015)

'The Big Short' is a winner. Based on Michael Lewis book of the same title, it tells the sorry story of the fraud and deceit practiced on the American people, nay, on the world by Wall Streets finance capitalism. We know the culprits: Goldman Sachs, JP Morgan, Lehman Bros., Morgan Stanley, Citibank, Wachovia, Crdit Suisse, UBS and on and on who invented financial instruments such as CDO, credit swaps and other fancy unintelligible names, based on mortgages, with the connivance of the credit agencies--Dow Jone, Standard and Poors and Fitch. 'The Big Short' with a light seriousness is a crash course on the duplicity of Wall Street investment bankers who earned large fees on junk bonds with triple A ratings; who bundled junk to palm off on an unsuspecting public looking for big gains by pandering to the snake oil exilir of getting rich quickly; and who feed on the niavety of the broad American have-nots with the dream of owning a home of their own. And so with some humor but much sadness are we lead through the byways of four different groups of bankers who saw the hoax for what it was and its impending implosion that would bring down the deck of cards of capitalism. And the took out bets on the market, by buying short. And they won big time! But the banks are still around, and the ratepayers footed the bailout, but at what cost! And we see this in the turmoil of the Republican party: for the discontent abroad in the US has thrown more than 25 percent of the population into poverty, loss of jobs, home, into heavy debt and no future for their children. And these banks have not reformed their ways...now they've come up with the same of gimmicks with a fancy name--something like beneficial financial tranche--as the play the same old mug's game. And like the Bourbons, t The cast is stellar--especially Christian Bale and Steve Carell and Ryan Gosling as well as the minor players. And like the Bourbons, in the words of Talleyrand, 'they learned nothing and forgot nothing', but the contempt they have for all of us. And to make the case stronger, the fools on the Supreme Court have strengthened the hands of big money and the oligopoly and the fat cats of Wall Street and the coupon clippers and the devil take the rest of us!

Fmovies: No subject in the world is inherently interesting or uninteresting, for it's always about the communicative method or channel used to promote or inform one about the subject that is either interesting or not. Having said that, some subjects are more alienating than others, and one of those subjects is economics/finance, largely because of its dependency upon a plethora of terminology and jargon that usually cannot be adequately defined without including other terminology or jargon. Before you know it, searching the definition of something like a "Roth IRA" leads you to Google searches about embezzlement and quantitative easing in efforts to try and circumvent and define what you were originally looking for.

Thankfully, Adam McKay's The Big Short assumes the audience is fairly stupid and blissfully ignorant when it comes to the interworkings of what led to the global economic crisis of 2007-2008, which saw record unemployment and catastrophic results for the usually reliable housing market. In true movie fashion, we observe the financial crash, not from an insider standpoint, where sure-fire, grade-A trades and exchanges are being made, but by a plethora of quirky outsiders trying to run away from a boulder that keeps gaining on them until it flattens them and everyone in their tracks. The only ones saved are the ones who didn't manage to fall or stumble when pushing said boulder down the hill in the first place.

We initially meet a quirky hedge fund manager named Michael Burry (Christian Bale), who discovers that the U.S. housing market is based on a series of subprime loans (which, we are told by Margot Robbie as she soaks in a bubblebath whilst sipping champagne, may as well be synonymous with "s***") and is inevitably going to collapse sometime in the second quarter of 2007. Being that the housing market is often viewed as the safest bet in America, Michael begins to go around to different banks to bet against the stability and long-term security of the housing market in efforts to profit from the impending disaster.

Then there's Jared Vennett (Ryan Gosling), a fairly small-time investor, who winds up putting in his own money to bet against the housing market, along with Mark Baum (Steve Carell), a cynical and depressed banker of many years. The two wind up discovering that the market collapse is further aided by the solicitation of collateralized debt obligations (CDOs), basically collections of the aforementioned subprime loans that come packaged together and market as competent and reliable investments.

Finally, there's Charlie Geller (John Magaro) and Jamie Shipley (Finn Wittrock), two young-bloods anxious to break into the financial market. The inexperienced duo enlist in the help of a retired, conservative banker named Ben Rickert (Brad Pitt), who helps them make decisions with their money. Unlike the other more experienced men, both Charlie and Jamie lack the kind of gusto and namesake that allows them into the offices of big name bankers. As a result, they pine for a bigger piece of the pie in a smaller way, largely by lounging in their parents' basements, hunched over their iPads.

The Big Short functions as a competent, satirical anthology that breaks down the financial crisis - that is now nearly a decade old, if you can believe that - enough to be informative and entertaining. Considering this is from Adam McKay, a frequent collaborator with Will Ferrell and Funny or Die, responsible for films like Casa De Mi Padre, The Other Guys, a

"The Big Short" is a good film but also a film that would be tough for the average viewer to enjoy and understand. This is because although the housing bubble's burst was a mess and destroyed a lot of peoples' lives, few folks really understand it. Sure, folks know that the banks were foolish as were home buyers (since they couldn't possibly afford these homes)....but that's about as far as their understanding goes. And, with the film tossing around all sorts of insider jargon, it's sure to confuse more than entertain.

What I would LOVE to see is a pop-up video version of the film with explanatory text appearing on the screen throughout the movie to further clarify what is happening. I've seen several Japanese import films like this--and they helped to explain cultural references that most non-Japanese viewers would miss.

The bottom line is that I am extremely well educated compared to the average person and yet I sometimes felt a bit lost. Enjoyable but best watched with an economics professor sitting in the room to explain it all in detail.

The Big Short fmovies. Reviewed by Larry Gleeson. Viewed during the AFI Filmfest 2015.

"The Big Short," directed by Adam McKay, based on the book by Michael Lewis, was adapted by McKay and Charles Randolph and made its world premiere Thursday, November 12, 2015 at the historic TCL Grauman's Chinese Theater as the closing night film for the latest edition of the American Film Institute's AFI FEST film festival.

The film's narrative is driven by four cynical, fringe Wall Street entities disgusted with the large banking institutions' overriding greed for profits. They make the decision to capitalize on the ensuing housing market calamity and the financial meltdown of 2008 upon discovering the market frenzy is being driven by worthless collateral debt obligations.

McKay chooses to inject a significant dose of humor in the early scenes to condition the audience receptors for what they are about to experience. Utilizing the Martin Scorsese docudrama style in a similar setting with "Wolf of Wall Street," a strong narrative voice dominates particular moments. Several of these deliberately break the 'Fourth Wall" in the style of "Wolfie," Jordan Belfort, as the characters, including a hilarious cameo by Selena Gomez, speak directly into the camera to explain the complexities of Wall Street finance. The overall effect adds additional humor and adds another layer in creating a sense of authenticity and truth about the film's subject matter.

After a rather lengthy dizzying, yet delightful, character introduction, the film picks up pace as the drama begins to unfold. Dr. Michael Burry, an eccentric financial analyst, with complete autonomy of an investment fund, uncovers variables in his economic forecast indicating a massive housing market collapse. He informs his higher up, Lawrence Fields, played convincingly by Tracy Letts, of his discovery and creates a financial prospectus. In essence, he creates a commodity of selling short on bundled mortgages.

The bankers laugh as they willingly sell Burry all the "insurance" he wants. Word quickly spreads of Burry's perceived madness in a after-work cocktail scene. With interest piqued upon overhearing the Wall Street gossip of the day, Jarred Bennett, portrayed by Ryan Gosling, scoops up the essence of Burry's move. Soon, he sells a group led by Steve Carell's all-too-human, Mark Baum to buy in.

As the debacle is in full free-fall, Baum struggles with disbelief as he and his group have bet against their own umbrella entity, Morgan Stanley. The final team that has uncovered the impending financial crisis, made up of two Wall Street neophytes and veteran Ben Rickert, played by one of the film's producers, Brad Pitt, also struggles with the imploding financial system caused by corporate greed and indifference.

With a mammoth cast, McKay draws on a plethora of talent in the likes of Hollywood A-listers including Brad Pitt, Ryan Gosling, Selena Gomez, Christian Bale, Karen Gillan Steve Carell, Marisa Tomei, Melissa Leo and Finn Wittrock. McKay and Randolph create characters with witty dialogue coupled with complementary cinematography provided by Barry Ackroyd. The soundtrack carries a similar tone of "Wolf of Wall Street," with a compilation of classic rock anthems. Nicholas Britell widely recognized for his work on Steve McQueen's "12 Years a Slave," where Britell composed on set the on-screen violin performances, work songs, dances and spiritual songs rarely

Don't know how Adam McKay made deplorable humans, blinding fear, gut-boiling outrage and gleeful shaming so much fun to watch. He brought along his bag o' laffs but planted them in such rich soil so we had to hack our way through the thick underbrush of tainted greenbacks and marked decks.

Everyone's in top form. Didn't recognize Brad Pitt for awhile. Ryan Gosling funniest. Christian Bale let us feel his pain and lonely genius. Steve Carell dug deep and came up with a real mensch.

Nice to see Marisa Tomei, Hamish Linklater, John Magaro, Rafe Spall, Finn Wittrock, Max Greenfield and talented others working at a solid level.

I walked out of the Westwood Bruin Theater in awe and mad as hell.

Harry Knowles once wrote a review of Das Boot that said the movie was so well made that you'd find yourself rooting for Nazi sailors trying to sink American ships. So here. You find yourself rooting for clever "outsiders and weirdos," as one of them puts it, who saw what nobody else wanted to see -- that an immense structure of mortgage based securities was doomed to collapse because it rested on the backs of subprime borrowers who couldn't support the weight and should never have been loaned the money. We have been taught by generations of fiction to identify with characters who are outsiders and rebels. Because these guys are smart, because they are antisocial and because they were laughed at by smug fools who believed the conventional wisdom, you identify with them, and you wait anxiously for their vindication. Then you realize that their vindication means the collapse of the American economy. They were the guys on the Titanic who knew what the iceberg meant.

Michael Lewis, from whose book the movie was adapted, got his training at Salomon Brothers in the mid-80s, as mortgage based securities were being invented. (There's an early shout-out to Lew Ranieri, the Salomon trader who invented them.) As anyone knows who's read Lewis's memoir of those days, Liar's Poker, the culture at Salomon was that your job was to be smarter than everybody else in the bond market, understand values better, and know what other traders were going to do before they knew it themselves. If you were smart enough, you deserved whatever you took away from somebody less smart on the other side of the trade. That's why Lewis admires his protagonists and that, despite a thick coating of moral outrage, is the heart of the movie. The guys who shorted the housing market weren't any more virtuous or less greedy than the great majority of complacent, conventionally minded bankers who believed that the trees would keep growing all the way up to the sky. They just saw more clearly and had plenty of nerve and faith in their own judgment. If they had been wrong, as shorts often are, they and their clients would have been wiped out. When they turned out right, they took the money and kept it, even if some of them felt guilty about it.

I know somewhat about this area, having litigated some of the aftermath. The celebrity cameo explanations of subprime debt, collateralized debt obligations, and synthetic CDOs are not only simple but accurate -- the two involving Anthony Bourdain and Selena Gomez are downright elegant. The key concept of the credit default swap comes out nicely through the dialogue -- a chance to buy fire insurance on the house down the street just before it catches fire. There are a couple of more points that could have used the same thing, especially when people start talking about "FICO scores." It could also have been a little more clear that the eventual collapse was delayed because the smarter investment banks like Goldman finally woke up, saw it coming, unloaded their CDO inventory on investors who were still asleep, and cut their losses by buying swaps themselves. But this is a smart, entertaining telling of an outrageous true story. It deserves all the praise it has gotten, and maybe an Oscar for best adapted screenplay. If it teaches people without a financial background a little of what went on, it will be more than a momentary entertainment. But it will certainly entertain.