Nate Gosbin
The financial crisis of 2007/2008 was the largest and most severe financial event since the Great Depression and reshaped the world of finance and investment banking.The underlying cause of the financial crisis was a combination of debt and mortgage backed assets. In the 1980s financial institutions and traders realized that US mortgages were an untapped asset. Traders at Salomon Brothers were trying to take advantage of this untapped asset, and found that they could restructure mortgage payments into bonds and sell them to investors.
The stock market crash of 2008 could have been avoided. In 2006, the Commerce Department reported that new home permits dropped 28%. This meant that new home sales would decrease over the next nine months and the first sign of trouble which was ignored. The next clear sign of trouble, ignored by the Fed, was an inverted yield curve which is when short term
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It will make you feel wrong for doing it, but if you were in the position to make millions of dollars from something like this you would be all in. The men in the film knew what was going to happen and felt bad for the people it would affect and it was clearly portrayed in the movie. Playing in the stock market is just like gambling. Most everybody loses, but some make large sums of money.
Burry believes he has Asperger’s Syndrome, which is a neurobiological disorder on the higher functioning end of the Autism spectrum. Asperger’s has tie to an extensive vocabulary, superior memory, obsessiveness, and a formal style of speaking. These things all explain Burry as a person, and may be some of the reasons for how successful he became. As for Eisman, he suffered a huge loss. The loss being the death of his brother from suicide. It made him work harder and more determined to be successful. He was focused on helping people get away from this time bomb, and would do all that it takes to do