The Big Short Analysis

Words: 1813
Pages: 8
Open Document
Throughout our class discussions and assignments, I found myself intrigued by the topic of the Financial Crisis of 2008. The film “The Big Short”, although offering a thorough explanation and summary of the events that transpired, did not quench my sense of curiosity on the subject. For this reason, I decided to interview someone who might offer a different perspective on the crisis. Working in the mortgage industry for almost 30 years now, Lynn Driscoll certainly accomplished this for me. The interview obviously contained numerous comparisons and connections to the film “The Big Short”. Many of the concerns raised by Lynn Driscoll were also raised in the film. Most interesting of these coalitions was their examination of who was really to …show more content…
As evidenced on several occasions throughout my interview with Driscoll, it is clear that banks prayed on low income borrowers more than any other social class. This is not to say that this is because they were more uneducated that other social classes and thus easier to take advantage of but rather their desperate need of a loan that made them perfect targets for the bankers’ scheme. As I aforementioned, to keep their scheme in motion banks needed to acquire a large number of mortgages. To do this, as explained by Driscoll, lenders participated in lending that “did not do appraisals on property, or did not verify income, or had extremely relaxed guidelines on verification of income”. With this type of lending, low income borrowers were able to receive loans they should not have been approved for and bankers were more than happy to accept while fully aware the rates were too high for the borrower’s income. Driscoll admits, “some loan officers charged a lot of fees and made a lot of money per loan, and often those loans were made to low or median income borrowers”. We, of course, know this did not end well for those who signed onto these unforgiving loans. These borrowers could not keep up with their mortgage payments and were “underwater” as the value of their homes fell well below that of their mortgage. Many, because …show more content…
Walley speaks of this sad reality in her book “Exit Zero”. More specifically she describes this reality as a lack of ‘upward mobility’, or one’s ability to attain a higher financial status, within our society. She explains how our society is constantly creating factors that make it exceedingly difficult to climb the social ladder. Essentially the message Walley conveys to her readers is that the so-called “American Dream” is nothing more than an unattainable goal. I think this is a fact Driscoll would resonate with. She, herself, said in her interview that in order to see our economy improve for the betterment of all people, “We need to make it easier for them (the lower bracket) to get a
Show More

Related Documents: The Big Short Analysis

The Big Short Movie Analysis

Brief introduction of the movie The name of the film I chose is "The Big Short." In, 2008 Wall Street guru Michael Burry realizes that some subprime home loans are in the vulnerability of lapsing. He bets against the housing market by investing more than $1 billion of his investors' money in credit default swaps. Because of his actions, Burry attracts the attention of a banker Jared Vennett (out to make as much money as possible), hedge-fund specialist Mark Baum (he wants to prove that the corporate…

Words 2063 - Pages 9

Comparing 'Go Back To Where You Came From And'

From” by Ivan O’Mahoney and the short story “Big World” by Tim Winton, the main characters undergo discoveries, which provoke a change in their views and perception of themselves, as a result of their respective journeys. Within GBTWYCF, three participants in particular experience the life of a refugee and, through personal connections and experiences of new worlds and cultures, discover a new understanding of the world that challenges their beliefs and assumptions. “Big World” follows a protagonist’s…

Words 1182 - Pages 5

Target Grocery Customer

brands? Analysis 1: Loyalty and Retention: A loyal customer is someone who buys the same product or goes to the same business for a service every time. Its what keeps customers going back time and time again. If you are a loyal customer to a specific business or product, it may try various retention techniques to keep you coming back. This can include loyalty programs, quality of service and contractual agreements. By having customer loyalty, a business can become very profitable. Analysis 2:…

Words 497 - Pages 2

TSL,a jewellery corporation Essay

Table of Contents 1 Executive Summary 2 Corporate Profile: 3 Macro Analysis 4 Industry Analysis 5 Company Analysis 5.1 SWOT analysis 5.2 Ratio&Trend Analysis 5.3 Industry Comparison 5.4 Review of components in the annual report 5.5 Quality of earnings 6 Conclusion 7 References Appendix 1 Executive Summary 2 Corporate Profile: Tse Sui Luen Jewellery (International) Ltd., through its subsidiaries, manufactures, sells, and markets jewellery products…

Words 1025 - Pages 5

An Analysis Of Philip Chandler's The Big Sleep

Chandler’s first novel, “The Big Sleep”, introduces the detective and narrator Philip Marlowe. Though Marlowe had prototypes in the hard-boiled sleuths of the short stories, he now appears as a protagonist of unmistakable originality while also bearings an ironic resemblance to the stereopticon private eye. As many critics have recognized, Marlowe’s flinty persona his cynical outlook, bitter wit, and outlaw self-image is a think disguise for the frustrated ideals and sentimentalism of one of the…

Words 546 - Pages 3

Essay on Strategic Planning for Big Print

Title: Performing Strategic Planning for Big Print Executive Summary This paper covers the strategy planning that was performed for a company operating in the Australian printing industry. Topics discussed include strategic vision, analysis on the internal and external environment and generic strategies that can be pursued. It looks at these topics as it applies to the company Big Print and concepts and tools such as Porter’s five forces, SWOT analysis and Strategic group maps are discussed. A…

Words 2954 - Pages 12

Stakeholder Analysis Of IT Project

Stakeholder analysis of IT Project Stakeholder analysis is critical to the success of every project in every organization. Analysing the right kind of stakeholders in the right way in IT project can make a big to its success. In fact, stakeholder analysis is a phenomena used to identify the key people who have to be influenced. Stakeholder Analysis includes a group of institutional project owners, the design /programming team, advisory groups/committees, groups representing future users/occupants…

Words 385 - Pages 2

Tell Tale Heart Analysis Essay

Alani Zabala-Perez November 5, 2015 Block 4 Mr.Wiglesworth Analysis of setting in “Tell-Tale Heart” EQ: How did Edgar Allan Poe use the literary device of setting to create a dark threatening tone in his short story, “Tell-Tale Heart”? In the story “Tell-Tale Heart” by Edgar Allan Poe the element of setting plays a big role in the short story. The setting makes the story more scary for the people reading it. This essay will explain the 3 elements of setting Poe used. One of…

Words 383 - Pages 2

Is Concentration And Career Analysis

IS Concentration and Career Analysis Introduction Coming from a family that owns a small business, I decided to pursue a degree in business administration with concentration in management and marketing. By the time I graduated from college, I realized how important it is to implement information technology into a small business like ours. Our competitors have created online shopping websites which result in increasing sales and expanding territories. It would be cost insufficient for us to hire…

Words 1825 - Pages 8

Training Working Memory

Working Memory Training Effective? A Meta-Analytic Review by Melby-Lervag, & Hulme, and Improving intelligence: a literature review by Buschkuebl, & Jaeggi were used to examine the analysis of a variety of studies done in this field. Both of these articles have various similarities and discrepancies in their findings and analysis of them. In both articles, there is an emphasis on working memory and how training of working memory can potentially enhance intelligence. Both articles analysed the findings…

Words 1205 - Pages 5