I know Wall Street (1987) will always be legendary, but I like this film more because I think it better captures the minds of many people who work in big money Finance. They're not evil in the James Bond villain sense. It's more that they're amoral. They don't set out to destroy millions of jobs/lives, but if those things happen they simply consider it part of doing business.
Food in Films: The way Irons' is slicing through that steak at the end is perfect. Cements him as the apex predator.
Big Short is solid but I wasn't so much a fan of the celebrity cutaways.
This exchange pretty much sums up a lot of modern finance...
Sam: The real question is--who are we selling this to?
Tuld: The same people we've been selling it to for the last two years, and who else ever would buy it.
Sam: And you're selling something that you *know* has no value.
Tuld: We are selling to willing buyers at the current fair market price.
Especially scary when you consider that the livelihoods of hundreds of millions are affected by the decisions of a very small few...and the very small few are never much affected by their own decisions.
This one is about debt market, more specifically mortgage backed securities, which most people, I among them, were largely unaware of until it started to affect the masses during GFC, the famous banking crisis. Even aftermath I think it is still a bit technical for most people.
"Wall street" was about stock market, much easier to understand.
"The big short" was about derivatives, which is a lot more complex, without the celebrity explainers few would understand what it was about.
I never liked "The big short", because they tried to have heroes in it, especially Mark Baum played by Steve Carell. There was no hero in this, they were all scums trying to profit from the crisis.
There is also the wall street 2, which is much more ridiculous than this movie. Wall street guys don't kill themselves because of guilty conscience, they would not have survived if they had any.
The wall street movie was my favoured because I think it is the first one really talked about wall street with any depth. I like "Other People's Money" too, which is more of a Disney version of "Wall street", and it explained well about the wall street buyout concept, although portraying the wall street guy as more of a good guy.
I have read just about every book I could find about GFC, the truth, at least as I understand it, was considerably more cynical than what was shown in the movie, by 2006 majority of large wall street firms including Lehman Brothers were already starting to aware the risk. Goldman Sachs, which is the largest of investment banks, was already heavily betting against mortgage securities while packaging and selling them at the same time before the crisis.
If someone started the selling I bet it was Goldman Sachs. But I don't think even Goldman Sachs realised how quickly and badly things could deteriorate. Still once liquidity issue was resolved, by the intervention of the federal reserve, Goldman Sachs profited handsomely from the crisis.
This is so spot on that I laughed out loud--"Wall street guys don't kill themselves because of guilty conscience, they would not have survived if they had any."
Matt Taibbi's description of Goldman is perfect--"A great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."
Also, Goldman's nickname "Government Sachs" is pretty accurate since their leaders move so seamlessly between Wall St. and the government departments that are designed to regulate Wall St.
True. Considering how tightly Goldman Sachs was integrated with US government, and quite a few treasury secretaries, including the one at the time, were from Goldman Sachs, it was a bit scary.