The Big Short Preview

In May of 2011, HBO Films released Too Big to Fail chronicling the bailout of the greedy and irresponsible financial institutions that brought about the biggest economic disaster in world history since the Great Depression.  In the fall of 2008, the market in the US fell over 700 points closing at below 10,000 for the first time in over 4 years.  On the same day, Great Britain, Germany, France, Russia and Iceland reported large economic losses as well.  President George Bush signed a TARP law (Troubled Asset Relief Program) as orchestrated by the US Treasury that gave over 700 Billion dollars to the top financial institutions.  To date, 958 companies received a piece of the taxpayer's money; of which, approximately $390 Billion has been repaid.

Based on the same economic meltdown, The Big Short covers the story from a different viewpoint.  Michael Burry (Christian Bale), was a physician and hedge fund manager, creator of Scion Capital LLC.  He was the first to recognize the impending doom of the careless practices by financial institutions and bet heavy on the housing market bubble to burst in a big way.  He was so confident in his analysis that he used $1 Billion of his investors money.  Some of his investors were more than displeased and pulled out in 2006 and 2007.  When the market crashed in 2008, Burry profited $100 million for himself and another $700 for his remaining investors.  He was quoted as saying, "I don't go out looking for good shorts.  I'm spending my time looking for good longs."

Banker Jared Vennett (Ryan Gossling) and another hedge fund manager Mark Baum (Steve Carell) caught wind of what Burry was up to and jumped in as well.  Some young investors accidentally discovered what Vennett was up to and talked Ben Rickert (Brad Pitt) into taking part.  The group collaborates and ultimately agrees on 3 things: First, what the banks had been doing was wrong both legally and morally; second, that the government and the banks are too caught up in the greed and profit and short term success that they don't see the fall coming; and finally, that they can take advantage of the banks' stupidity.

The Big Short was nominated for Best Picture of the Year and Bale was nominated for his supporting role.  It won for Best Adapted Screenplay.  The preview looks to be a stinging look at the corporate greed that rocked the world with a bit of humor as a small group forms a bit of a financial coup.  However, the humor is either going to be one of those "it's funnier because it's true" situations, or it will illicit a sort of "ha-ha-ouch" at just how crippling their ignorance and greed was, and still remains today.

I'm anticipating 3.5 stars.  It looks very well-written and superbly acted by an all-star cast.  It's a fascinating and upsetting story, but I also have a feeling that this will not be one I'm rushing out to add to my personal home collection.  Am I right?  We shall see.