Housing Collapse
The films The Big Short and Too Big to Fail both concentrate around similar affairs that led up to the 2007 and 2008 economic downfall. The two motion pictures are dependent on the book The Big Short: Inside the Doomsday Machine, composed by Michael Lewis that centers around the financial instruments enormous banks used to pave the way to the fall of the housing and credit bubble in 2007 and 2008. These movies give insight into the perspective of these big corporations and high up authorities that rule Wall Street, along with the Federal Reserve. With this, the movies also dive into the mortality of these officials and how these officials foresaw the crisis but everything was already too corrupt that it turned into a downward spiral of events. Fundamentally, the two motion pictures investigate into the rise of the crumple of these companies and the housing market, which in turn, led to the Great Recession of 2007 and 2008.
Now, the main officials that led to this ruin that to me stuck out the most was by far the Lehman brothers. I think they stuck out the most to me because they remain the largest bankruptcy filing ever throughout United States history. It just seems to me like their downfall changed the economy greatly. When the housing market began to crash in 2006, the Lehman Brothers doubled their share of real estate, but as a little time went forward it became clear that the loans taken out were less than ideal and unfavorable to the wellbeing of the firm. To me, the biggest reasoning I think the Lehman brothers, as well as the banks, and other executives, as well as Wall Street, failed greatly is because of the absence of trust, poor long-term ventures, and overall just unstable and over-utilized funding. While there are many different factors to the financial crisis of 2007 and 2008, it all comes back to the immeasurable appetite for money and inordinate authority of individuals that triumph over regulation and reasonability, it seems to be all about being the wealthiest out of corruption and who can rise to the top and stay there.