A recent Wall Street Journal article highlighted the astounding value of $110 Billion that various federal and state governments have received from their prosecution of banks for their alleged part in “creating” the conditions for the mortgage-induced financial market crash that led to the Great Recession. 897 more words
Tags » Mortgage Crisis
In the final moments of The Big Short, the intelligent and stylized argument that filmmaker Adam McKay slowly builds from the opening frame — an argument that effectively unmasks, not simply the unethical, but the institutionalized criminality that exists at the epicenter of global financial markets — is completely lost. 1,049 more words
Much of what occurs on Wall Street and within the global financial world is Enemy #1 of local economic development. Don’t believe me? See the movie The Big Short. 262 more words
Fannie Mae and Freddie Mac own or guarantee nearly half the $12 trillion U.S. mortgage market. Not long ago, they were the darlings of Wall Street, ranking next to U.S. 2,560 more words
I don’t like a lot of movies a lot, but I’d say I love “The Big Short” were I not prone to understatement.
In case you don’t know, it is about the collapse of the housing market in 2008 and under most circumstances it would never have become a movie. 366 more words