>We are selling to willing buyers at the current fair market price so that we may survive
Isn't this literally fraud?
>We are selling to willing buyers at the current fair market price so that we may survive
>We are selling to willing buyers at the current fair market price so that we may survive
Isn't this literally fraud?
No because they take a huge loss in the process as well as greatly harming their reputation by selling other firms dogshit stocks they knew were about to go off like a time bomb
Its like selling milk thats about to expire tomorrow to a homeless shelter. you can do it yeah but it wont make you look good
Yes but don't worry the investment banks still got bailed out and every executive actually had BIGGER bonuses as a result.
>President Bush signed the bill into law within hours of its enactment, creating a $700 billion dollar Treasury fund to purchase failing bank assets. The revised plan left the $700 billion bailout intact and appended a stalled tax bill.
https://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008#:~:text=President%20Bush%20signed%20the%20bill,appended%20a%20stalled%20tax%20bill.
What would've happened if there was no bailout?
Corrupt institutions would've actually faced consequences for fricking over their own customers, for one thing.
Large institutions would've gone bankrupt and millions of people would've lost all their savings as a result
banks would actually fail and people would be worse off since the couple of banks who'd survive would have a much bigger market share and even more power. not defending bail-outs but in the end the banks always win, wether is 5 big banks or one giga bank controlling all makes little difference. Not like the government would have spent those B700$ any whiser.
>What would've happened if there was no bailout?
Regular businesses wouldn’t have had access to baking
That would've led to bread lines for sure
Pretty much Great Depression 2.0; global economic collapse, Obama or McCain being the new Hoover, Hillary waltzing in as the new FDR in 2016 and starting WW3 with Russia to "get us out of the depression" (but in truth would just get millions killed and barely make a dent repairing carnage that the collapse caused), and Donald Trump would still be the lovable frickboy millionaire that everyone loves.
Bush II and Obama basically made a monkey's paw deal with their bailouts, based on the fact that even someone like Bush II who is functionally moronic, knew doing nothing like Hoover did during Great Depression '29 would have been suicide for everyone.
By bailing out the banks, they turned a depression into a recession that never ended, as they both did jack shit to help out the average person who got fricked over. And endlessly papered over the fact that the recession never ended and the carnage it wrought on the poor and middle class to hide that it was a short term fix that didn't fix anything and only cauterized the wound, as the infection set in and continued to kill the patient.
Depressions end eventually
I don't understand. There was a bailout.
>don't worry the investment banks still got bailed out
privatizing the profits and socializing the losses is fricked up, idfaf if I sound like a reditor for saying this
I love rewatching this movies every once in a while
great acting from everyone, great layered storytelling beneath the surface
Prices fluctuate constantly as the market prices in new information. His only crime was being first.
Margin Call >>> The Big Short
>Isn't this literally fraud?
If the buyer isn't willing to do their research as to the product they're buying then they should be more careful about what they buy
so how's the three gorges dam doing?
his company values these stocks as 0, that is not the case for other companies, I don't think it's his duty to explain his line of thinking before sellling stocks at a market price.
>Isn't this literally fraud?
If I sell you a rotten sandwich and you buy the sandwich and bite into it and then come back and complain it's your fault for not looking at the sandwich in your hand before taking a bite. Anybody can look up stocks and do research, the buyers took losses just like any buyer does when a stock falls, only in this case it fell even more steeply.
>If I sell you a rotten sandwich and you buy the sandwich and bite into it and then come back and complain it's your fault for not looking at the sandwich in your hand before taking a bite.
Health and safety wants a word with you.
>it's your fault for not looking at the sandwich in your hand before taking a bite.
No, if you sell a product to a customer under the guise of it being of a certain quality and it is not, that's false advertisement.
>Health and safety
Sneed & Feed
>No, if you sell a product to a customer under the guise of it being of a certain quality and it is not, that's false advertisement.
Everybody had access to the same information, it's just that zachary quinto was smart enough to make a prediction based on it and the people buying it weren't
>If I sell you a rotten sandwich and you buy the sandwich and bite into it and then come back and complain it's your fault for not looking at the sandwich in your hand before taking a bite.
Wrong.
Implied Warrant of Merchantability and Implied Warranty of Fitness for a Particular Purpose off the UCC give an implied warranty of any sale of goods. It would also be a deceptive practice under FTC protections as its a deceptive practice.
>food analogy
I have $80,000 invested into 401Ks and IRAs, am I about to be bankrupt?
Don't worry, they'll print more money once the market crashes. That 80k should be able to buy you a loaf of bread in a couple years.
Can anyone explain how exactly
>random employee who was about to get fire
>makes AN ALGORITHM
>that makes PREDICTION
Makes ALL INVESTORS wake up and arrange urgent meeting
Even if the prediction was wrong its worth telling the captain about. And its turns out the captain could sense the prediction would be true. which was his whole job, it wasnt brains that got him there
He got fired. It's Stanley Tucci's work and he got sacced for pointing out the woman swept it under the rug.
The only reason it worked was because the mentalist shut the girl down when she tried to downplay it.
Didn't she get fired in the end though?
fired in banking means you get shown the door with a diamond up your ass. She probably took seven figures home that day when the whole world went bankrupt. Imagine having millions when 2008 happens, you'd be able to buy whole apartment blocks for sure.
Maybe. Point stays the same. Tucci nootices, writes algo for office politics gets sacked but Mentalist realises how big this is and pushes through
The firm's execs already knew that the "music is about to stop" as Tuld put it. They were just mistaken in their belief how much longer they might ride that wave. So Peter's prediction served as a wakeup call for the execs that they have to step on the breaks right now or suffer greatly. Again, they were aware that this moment would come eventually which is why nobody really doubts Peter's findings for a second. As the other anon noted, Eric Dale gets fired by that one woman banker because he was about to reveal to the execs how she had led the firm far too close to the abyss. However I'm frankly not sure what HER endgame was. With the crash being imminent, it would seem that her failure would come to light one way or another. The firm crashing against the rocks and going bankrupt would seem like the worse outcome for her, too, since I imagine it would adversely impact her severage package. She's not keeping her job either way after all.
more like
>head of RISK assessment
>detects RISK
>gets fired by HR roastie after pointing it out because that's just... it's just not okay
>his protege detects same RISK later on and tells more people than just the HR roastie
>someone higher up the ladder agrees and sets things in motion
The fact that demi moore was only fired and not burned at the stake in the front lawn of the office was quite astounding.
test
did he already know he was making all is lost after margin call? i suppose he must have, right?