The big short

Generali

The bankers paid off the regulators with taxpayers' dollars and I suspect that's that sadly.

It's well worth reading JK Galbrath's description of the Wall Street Crash.

Generali

Please nudge me via PM if I've not answered this in a day or so. It's 2:30am and I need to go to bed! I'd like to give a considered reply.

wotsthat

padington wrote: »

It's a great film, saw it last night. Possibly a bit of a game changer. I would imagine more heads will have to roll now.

I'd wonder what the world was coming to if people were so disengaged they didn't pay attention to stuff until Hollywood told them a nice story about it.

westernpromise

I thought it was quite funny when the Brad Pitt character scolded the two geeks for celebrating putting their trade on, by pointing out that they were going to benefit if the economy tanked and that meants repos, bankruptcies, suicides, etc. All they could see was an opportunity to make money out of a crash. Reminds me of some people, can't quite think who...

purch

Electrum wrote: »

what do you think about the debt and derivative bubbles in the world, do you think they are larger or smaller than in 2008?

There never was, and isn't now a Derivative "bubble". It's the kind of terminology used by people who only have a scant knowledge of what they are to scare people who don't know what they are.

There are far less open Derivative contracts, especially OTC contracts now than 7 years ago.

Debt on the other hand..............:eek:

padington

wotsthat wrote: »

I'd wonder what the world was coming to if people were so disengaged they didn't pay attention to stuff until Hollywood told them a nice story about it.

Nothing changes the world more than a good story.

Thrugelmir

padington wrote: »

What products, the mortgages sold with no due diligence, the bonds that hid the truth or the virtual bets that virtually hid the truth ?


... Or the people that bought into the idea the rating agencies weren't bent.


... Or the trust that merrol lynch and co weren't insuring their bets with the idea that the public would pay for their idiocy.


...or the trust that regulators weren't in bed, literally with the banks they were regulating ?

The banks were dumping the crap on German, Japanese and Saudi investors. That's why they survived. They caught onto the problem and shovelled it off their balance sheets.

If you may recall it wasn't a bank that took the biggest hit but AIG who were effectively insuring the whole poker game.

DiggerUK

Thanks for posting the movie, now that's what I call a money saver.

Anybody got any bright ideas how I can short p2p platforms..._

Generali

DiggerUK wrote: »

Thanks for posting the movie, now that's what I call a money saver.

Anybody got any bright ideas how I can short p2p platforms..._

Get a broker and find a reasonably liquid company. Then buy a short CFD through them. A CFD acts like a share but doesn't attract stamp duty. Or simply take the short side of a spread bet.

Yeah, Government and especially muni debt could well be in a bad place as rates rise. The muni debt market has got 'next financial crisis after small oil' written all over it.

Thrugelmir

DiggerUK wrote: »

Anybody got any bright ideas how I can short p2p platforms..._

What's wrong with the platforms? Depositers are taking all the risks.