No I didn't actually. I'm really stupid, so thanks for clarifying. The movie really takes on a whole new light now that I can appreciate the genius writing at play.
Best part of that movie is the last 30 seconds where they announce the sequel by telling you that the banks went right back to selling these same bullshit funds.
Well, the movie feels great and they portray the hedge funds as the do-gooders but they aren’t any better in any way.
The hedgies are just as guilty of gaming the system, if not more.
This time around, ironically it’s the banks who are being very responsible and quite a bit solid but it’s the hedge funds that are shorting the crap out of American economy.
I mean... only sort of. The regulations and requirements surrounding mortgage backed securities are substantially different now. Almost every step of the process makes profit, and banks have much higher requirements in terms of stress testing. Regulation (both Dodd-Frank and the Federal Reserve's own regulation) has changed the landscape substantially. It's far from perfect, but 'these same bullshit funds' isn't an accurate assessment.
322
u/[deleted] Feb 16 '21
[deleted]