Four opportunists in the world of high-finance predict the credit and housing bubble collapse of the mid-2000s, and decide to take on the big banks for their greed and lack of foresight. The Wall Street banks (aka Goldman Sachs, JP Morgan, B of A, Wells Fargo) were loaning out home mortgages to anyone who could sign their name. Additionally, these institutions got the major banks to insure the loans at a AAA level. And when the Ponzi scheme failed, the whole thing came crashing down and the economy collapse.
At the end, the movie makes the salient point that these criminal did not go to jail and they knew ahead of time, courtesy of criminals like Hank Paulson, then Secretary of Treasury, was going to have the Congress bail out these crooks with the people’s money.
In the last five minutes of the movie, take out your notepad as you will want to take copious notes. Because it is in these last five minutes, that the story, albeit a very brief revelation, of unfathomable government and corporate complicity and corruption, is revealed. I am shocked that the censors allowed the last five minutes of the movie to reveal as much truthful information as to who was responsible for the collapse of the global economy.
Today, the Credit Swap Derivative debt exceeds $1.5 quadrillion dollars. We could not pay off this debt by the 30th century! Here is the movie trailer for the Big-Short.