In the mortgage collapse that drove the world economy to the brink, the ratings agencies were rating dogshit in catshit as AAA, they certainly didn’t give it something more appropriate like BBB-. There was a good scene where Burry (played by Carrell) went to fitch and asked them why they hadn’t changed the rating on the MBS(shit sandwich) when the underlying mortgages were worth zero. The Fitch person said they didn’t feel the need to. They were of course being paid–and still are–by the companies they rate.
Edit: i also liked Margin Call which is a fictional story about some traders seeing what was about to happen in 2008 and how they responded because of it in 1 night.
The acting was good, the script was ok, I had just read and learned so much about it all in 08-12 I was over it by the time Hollywood and the rest of the world got around to engaging with it.
Margin call I watched a few years ago and also liked.
In the mortgage collapse that drove the world economy to the brink, the ratings agencies were rating dogshit in catshit as AAA, they certainly didn’t give it something more appropriate like BBB-. There was a good scene where Burry (played by Carrell) went to fitch and asked them why they hadn’t changed the rating on the MBS(shit sandwich) when the underlying mortgages were worth zero. The Fitch person said they didn’t feel the need to. They were of course being paid–and still are–by the companies they rate.
That was such a good movie.
Edit: i also liked Margin Call which is a fictional story about some traders seeing what was about to happen in 2008 and how they responded because of it in 1 night.
The acting was good, the script was ok, I had just read and learned so much about it all in 08-12 I was over it by the time Hollywood and the rest of the world got around to engaging with it.
Margin call I watched a few years ago and also liked.