Peace Posted July 28, 2011 Share Posted July 28, 2011 Just watched this. No easy feat to make a movie about the presidents of banking houses and the Fed Chair and Treasury secretary exciting but I liked it. If you followed the story as it happened, it's interesting to see it all dramatized. What strikes me is how often and close things came to blowing up. And contrary to optimistic Dante's prediction that defaulting won't be a big deal, I sure would like to avoid seeing that movie play out in mid-August, which is right where we're heading under the current Washington "leadership." "We shouldn't have let Lehman fail" is going to turn into "We shouldn't have let the default happen." Times 10. Lehman, Bear, AIG almost took down a relatively optimistic and healthy economy. Link to comment Share on other sites More sharing options...
DC Tom Posted July 28, 2011 Share Posted July 28, 2011 Just watched this. No easy feat to make a movie about the presidents of banking houses and the Fed Chair and Treasury secretary exciting but I liked it. If you followed the story as it happened, it's interesting to see it all dramatized. What strikes me is how often and close things came to blowing up. And contrary to optimistic Dante's prediction that defaulting won't be a big deal, I sure would like to avoid seeing that movie play out in mid-August, which is right where we're heading under the current Washington "leadership." "We shouldn't have let Lehman fail" is going to turn into "We shouldn't have let the default happen." Times 10. Lehman, Bear, AIG almost took down a relatively optimistic and healthy economy. And the only reason they didn't is because a few people made some very difficult decisions. One thing the Bush Administration had was backbone - not a benefit when you're stupidly throwing darts trying to hit a justification for invading Iraq, but a good thing when you're choosing between "very expensive bailout" and "holy ****, holy ****, the economy's gonna !@#$in' die!" Link to comment Share on other sites More sharing options...
Peace Posted July 28, 2011 Author Share Posted July 28, 2011 (edited) And the only reason they didn't is because a few people made some very difficult decisions. One thing the Bush Administration had was backbone - not a benefit when you're stupidly throwing darts trying to hit a justification for invading Iraq, but a good thing when you're choosing between "very expensive bailout" and "holy ****, holy ****, the economy's gonna !@#$in' die!" Right-o. No one has gone back and put Paulsen and Bush through the ringer about overstepping their legal boundaries in that mess. The movie does a good job contrasting then SEC Chair [name], who was trying to play by the rules and not overstep, with Paulsen, who was screwing up for sure, but basically willing to do whatever it took. At some point, the issue just became one of desperation: Do something, ANYTHING. The AIG move showed the turning tide of govt involvement. The cas infusion of TARP was the turning point. No one needed that money but something needed to start moving cash through the system. At that point, the market knew that big brother was willing to do anything and people started to (slowly, really slowly) calm. Edited July 29, 2011 by Peace Link to comment Share on other sites More sharing options...
birdog1960 Posted July 28, 2011 Share Posted July 28, 2011 (edited) Just watched this. No easy feat to make a movie about the presidents of banking houses and the Fed Chair and Treasury secretary exciting but I liked it. If you followed the story as it happened, it's interesting to see it all dramatized. What strikes me is how often and close things came to blowing up. And contrary to optimistic Dante's prediction that defaulting won't be a big deal, I sure would like to avoid seeing that movie play out in mid-August, which is right where we're heading under the current Washington "leadership." "We shouldn't have let Lehman fail" is going to turn into "We shouldn't have let the default happen." Times 10. Lehman, Bear, AIG almost took down a relatively optimistic and healthy economy. haven't seen it but would like to. sounds like you found it fair? Edited July 28, 2011 by birdog1960 Link to comment Share on other sites More sharing options...
Peace Posted July 28, 2011 Author Share Posted July 28, 2011 (edited) haven't seen it but would like to. sounds like you felt it fair? The opening and closing sequences of news stories show Sorkin's bias to blaming all the deregulation. But I'd say that the portrayal of the situation as complete chaos and the leaders as doing the biggest cat herding ever and somehow pulling it off--that part seemed pretty accurate. The best scene is one where Paulson is meeting with his Chinese counterpart in China and someone tries to hand him a flag for a photo op (he declines to take it) and his little daughter grabs at it and gets into a tug of war as her dad tries to take it away. Doubt it happened but it was funny. LAter the Chinese Econ Sec'y says, "You should have seen your face." Edited July 29, 2011 by Peace Link to comment Share on other sites More sharing options...
Buftex Posted August 4, 2011 Share Posted August 4, 2011 (edited) The opening and closing sequences of news stories show Sorkin's bias to blaming all the deregulation. But I'd say that the portrayal of the situation as complete chaos and the leaders as doing the biggest cat herding ever and somehow pulling it off--that part seemed pretty accurate. The best scene is one where Paulson is meeting with his Chinese counterpart in China and someone tries to hand him a flag for a photo op (he declines to take it) and his little daughter grabs at it and gets into a tug of war as her dad tries to take it away. Doubt it happened but it was funny. LAter the Chinese Econ Sec'y says, "You should have seen your face." What I found most remarkable about the movie (taking it as truth) is how close McCain sitting out a week on his campaign, (because "politicking" on the campaign trail seemed too crass to him, when things were so precarious) almost made things so much worse. It almost had unintended disasterous effects. Good movie, I thouhgt...as much as I have heard/read about that whole time, it was always hard (for me anyways...I don't just "know everthing" like some folks around here )to really understand all the complexities of that situation. Movie did a good job of shedding some light...realizing, there are some political biases inherent in the storytelling. Edited August 4, 2011 by Buftex Link to comment Share on other sites More sharing options...
DC Tom Posted August 4, 2011 Share Posted August 4, 2011 (for me anyways...I don't just "know everthing" like some folks around here ) You are aware that quite a few of us were directly involved in events? Link to comment Share on other sites More sharing options...
outsidethebox Posted August 5, 2011 Share Posted August 5, 2011 (edited) You are aware that quite a few of us were directly involved in events? So it IS your fault! I knew it! Edited August 5, 2011 by westside Link to comment Share on other sites More sharing options...
Buftex Posted August 5, 2011 Share Posted August 5, 2011 You are aware that quite a few of us were directly involved in events? Now what would make you think I was talking about you? Link to comment Share on other sites More sharing options...
DC Tom Posted August 5, 2011 Share Posted August 5, 2011 Now what would make you think I was talking about you? Because you said "I don't just "know everthing" like some folks around here." If you were talking about anyone else, you would have said "I don't think I "know everthing" like some folks around here " So I'll take it as a compliment, thank you. Link to comment Share on other sites More sharing options...
Buftex Posted August 6, 2011 Share Posted August 6, 2011 Because you said "I don't just "know everthing" like some folks around here." If you were talking about anyone else, you would have said "I don't think I "know everthing" like some folks around here " So I'll take it as a compliment, thank you. I think you know about 97% of everything... Link to comment Share on other sites More sharing options...
DC Tom Posted August 6, 2011 Share Posted August 6, 2011 I think you know about 97% of everything... Only because I keep forgetting the other 3%. But I wrote it down...somewhere... Link to comment Share on other sites More sharing options...
meazza Posted August 6, 2011 Share Posted August 6, 2011 Just watched this. No easy feat to make a movie about the presidents of banking houses and the Fed Chair and Treasury secretary exciting but I liked it. If you followed the story as it happened, it's interesting to see it all dramatized. What strikes me is how often and close things came to blowing up. And contrary to optimistic Dante's prediction that defaulting won't be a big deal, I sure would like to avoid seeing that movie play out in mid-August, which is right where we're heading under the current Washington "leadership." "We shouldn't have let Lehman fail" is going to turn into "We shouldn't have let the default happen." Times 10. Lehman, Bear, AIG almost took down a relatively optimistic and healthy economy. I read the book and it certainly was entertaining and gave a good inside on what was going on. Don't know how they could pack up that much into a 2 hour movie. Link to comment Share on other sites More sharing options...
DaveinElma Posted August 6, 2011 Share Posted August 6, 2011 I'll sum it up like this- good actors (William Hurt, James Woods, the guy who played Pig Vomit), but bad political messages at parts. Link to comment Share on other sites More sharing options...
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