Encinitas, CA
December 30, 2015
by Rich Scheck
Another great movie about recent events that appears to be too
little, too late in showing us what is wrong with America.
The Big Short does a good job of discussing the complicated
financial underpinnings of the nearly decade old housing scandal
that went down at the end of the Bush Administration.
With a great script and many excellent performances, the film
does it’s best to explain to the American public the how, why
and who of the events that rocked Wall Street and Main street
in 2008!
But the sad news is that no one was held accountable for that
tragedy. Rather than being too big to fail, the perps were too
big to jail.
No one was punished. Instead, the banksters were bailed out!
The can was kicked down the road and the hapless Obama
Administration inherited a huge mess which it has done little
to clean up. Dodd-Frank also looks like, too little, too late
Now, with the same problems festering along with new ones
and all attempts to revive the economy falling far short, the
desperate gurus at The Fed and Treasury are talking about
bail-ins as a cure for what ails the bankrupt institutions.
With hedge funds once again “dropping like flies” and the
housing market in the doldrums, the hope of finding a way to
kick-start the economy and generate a real recovery remains
an elusive dream. The use of quantitative easing, bail-outs
and interest rate manipulations have all come up short.
As the movie repeatedly states, the combination of greed
and stupidity insures that the only ones who suffer are the
innocent workers here and around the world who put their
faith in people who are deeply flawed and ethically challenged.
The Big Short captures the energy and mind-set of the
wheeler-dealers who man (and woman) the world of Wall Street.
It may not have adequately explained all aspects of the shady
dealings and only indirectly references the role of the SEC
and other government watch dog agencies.
It also totally avoids any mention of the black budget that funds
CIA projects and apparently syphons money to the Secret
Space Program described by Joseph Farrell, Richard Dolan
and Katherine Austin Fitts among others.
It is a cross between The Wolf of Wall Street and the documentary
narrated by Matt Damon, Inside Job (2010).
In the end, a few benefited from all the corruption because they
had the foresight and guts to bet against the greed-mongers.
But as current events show, we are a long way from fixing the
flawed practices that led to the 2008 crash as well as far from
ever repairing the human flaw of greed that fueled it.
As the articles below describe, the world financial system is
faced with dramatic upheaval once again…..probably worse
than in 2008 when the last collapse happened.
I guess they’ll be making a movie about that in years to come.
The question is: will more than a few be able to afford the
price of admission?
http://revolutionradio.org/?p=117484
http://revolutionradio.org/?p=117411
http://revolutionradio.org/?p=117401
http://revolutionradio.org/?p=117351
http://revolutionradio.org/?p=117345
http://revolutionradio.org/?p=117391
http://revolutionradio.org/?p=117476
http://www.imdb.com/title/tt1645089/
N. B.: The writer has limited understanding of financial matters.
He has followed the corruption and the associated scandals
over the years, but lacks the technical knowledge to fully
grok all aspects of these shenanigans. He is clear that the
problems that remain are getting worse!