Over the last few weeks I’ve been familiarizing myself with the economic mumbo jumbo and reading up on the financial crisis of 2007-2008. Not going to lie, the economics and politics are 2 major things I tend to stay away from, as I don’t fully understand the former, and I get angered way too easily by the latter.
The recent Academy Award contender The Big Short, and the 2010 Matt Damon-narrated documentary Inside Job are the two movies responsible for my sudden interest in this subject matter.
They were not only compelling, but also made all the effort to present the circumstances of the crisis in an extremely coherent and straightforward fashion, so that even a layman like me got a lot from viewing them. Then again, ultimately I wish I didn’t know the dirty machinations that went on at that time.
So are the banks as bad as the filmmakers often make them to be? The short answer is they are far worse. Continue reading →