So basically it was just over inflated asset valuations and a weaker than expected economy that caused everything to...

the people who bend over for corpos aren’t also bending over for finance

uh huh

They put them in a fund and insured them with derivatives to give them a synthetic A rating. Only when they defaulted the insurers couldnt pay up because they'd covered too much debt and didnt have the money to pay up. Debt became worthless and everyone tried to dump it but no one was buying, so the value crashed, holders started to make losses and no one would lend to them, after a short time everyone just stopped lending to each other because they didnt know how much bad debt they owned and if they'd be able to pay back anything. So finally the central banks had to step in and print money to lend it to everyone so the financial system could get moving again. It was a clusterfuck of enourmous proportions.

There were several factors but one little talked about was the use of MBS as collateral, these were considered rock solid AAA rated, so you could use them to leverage up, once it was realized that they were actually dogshit, a whole lot of shit had to unwind which caused the crisis.

To pose an analogy, imagine you had a beautiful new mansion in a great location, and you went around to 15 banks and got a HELOC from each of them for the full value and then used that to invest in a bunch of shit, but then the banks found out that what you actually had was a cuckshed in Silent Hill - the whole shitshow collapses.

Greed, they made commission on loans, so the more loans they made the bigger the commission. Then they'd take it off their books by securitising them and selling it off in pieces to bigger fools.

Republicans are the party of big business and finance.

uh huh

The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks. The bill was proposed by Treasury Secretary Henry Paulson, passed by the 110th United States Congress, and was signed into law by President George W. Bush.

over inflated asset valuations

The problem wasn't the overvaluation, but how many other things were using that over valuation to lay stakes for bigger bets, the synthetic shit.
Basically if you ever hear the word "Synthetic" in anything but a manufacturing or materials context, run far away because what that literally mean is "lets just make shit up!"

the bailout happened before the crash

Cause they Christians

The party of people privatizing the govt aren’t in favor of big corporations

You’re retarded.

Americans are beyond fucking retarded. Who let these mutts hoard the majority of the world’s wealth?

The Democrats are le resistánce.

It was because of government fiscal intervention.

artificially low interest rates

excessive money creation

These policies promote reckless borrowing and an unsustainable housing bubble

doesn't realize market crashes are the best time to make wealth cause you buy the bottom instead of sell

that too

On a scale of 1-10 how fucking stupid are you?

recession began in 2007

Again, you’re retarded.

The democrats also only exist to do their corpo donors bidding, great job acknowledging half the issue.

This movie turns propoganda in that it completely ignore the fact that those banks were in bed with the government. That's how they were able to pull it all off with nearly zero repercussions. I did applaud that the film exposed media outlets for what they are: 'positive PR' for major corporations, but that's more obvious.

This movie turns propoganda in that it completely ignore the fact that those banks were in bed with the government.

there’s a lot of geniuses in this thread that would gladly believe otherwise

Interestingly enough Republicans are just about as Christian as Democrats these days. Neither political parties are really attending church anymore.

it completely ignore the fact that those banks were in bed with the government.

No it doesn't. The ultimate climax of the movie is the characters realizing that the reason no one was admitting the market was exploded was because the banks were trying to unload their positions in a firesale before buying out the short positions and they didn't care about the fallout because they knew the government was going to bail them out.

It's true the banks know the government will bail them out, but it doesn't reveal that they knew that because had already lobbied and bought out the government. It turns into a 'well what can we do?' instead of 'how did this really happen?'. That's where the film is disengenious. The banks were playing with house money. The film never exhibits why they were so comfortable doing it.

My only question is when's the next one happening and how much worse will it be?

you’re living through the intro right now

Basically, it was this:

banks get greedy

start selling off mortgage debts to others

the mortgage debts are shaky as fuck and won't get paid back, so the debt-buyers won't get their money back

but the banks have the debt raters lie for them

say the debts are great and definitely will be paid back

but banks have been giving mortgages out to anyone who would ask

people can't afford to pay back mortgages, so no money coming back to the debt-buyers

the debt-buyers throw a hissyfit

turns out some of those debt-buyers were fucking pension fund managers

everyone has lost their pensions because the banks lied about what the debt-buyers were buying

government steps in and throws the missing money back at the debt-buyers

banks got away with stealing money from everyone, and loads of free houses

The only ppl attending church now are old women in libshit "churches", and young men in more traditional ones.

Because its a movie about the three big shorts, not an in toto documentary about the financial crisis.
It also demonstrates what is ultimately the most important lesson of the entire event - that you had people fighting to get as close to the nozzle of the infinite money printer as possible and anyone trying to enforce some kind of restraint or intelligence about any of it was pretty much trampled by more people who don't care and want more infinite free wealth while they could.
Its greed and ignorance. At a million points in the story you see a "...if only..." moment, where shit could have stopped if only people weren't stupid and greedy.
I'd also say that Burry is the only one of the big three that doesn't come off as "part of the problem." The colorado bros were the burgeoning retail day trader clowns, and Michael Scott was just another wall street hedgefund manager getting rich off people losing money.

The film never exhibits why they were so comfortable doing it.

The hell it doesn't. The whole opening sequence explaining how mortgage securities and swaps work, and everyone loves them because they're based on the almost solid gold standard that "Most people pay off their house! IT CAN'T LOSE!"
Then the movie goes on to talk about the slippery slope of CDO's and Synthetic CDO's and the infinite money printer greasing all the wheels of anyone silly enough to suggest that we should bother the goose laying the golden eggs less.

Because the banks knew they would get bailouts from the government. So they made extremely risky bets with giving out loans to everybody because they knew they are covered by taxpayer money.
Why do you think that BLM, transgenderism, gender wars and everything else suddenly hit the limelight when Occupy Wall Street was getting traction?

Part of it is because there were laws that stopped banks from offering shitty loans because you live on the wrong side of the tracks. The idea being people in shitty neighborhoods might be more inclined to maintain their neighborhoods if they own or are invested in the places they live. Especially since historically they've been pretty harsh on those areas.
Which is fine, banks make plenty of money, they have an infinite money printer, and they can just value those lower class assets at face value, repackage them, sell them off. Or if its genuine shit, you just keep it on the books so you can show some losses to offset your gains.
But the demand for these mortgages became way greater than what existed, so this creates a pressure to give more people loans, even when they don't need it or deserve it, you can just tell someone "Sign on the dotted line, get a house!" so they can sell it off.
At some point you're just looking for slop to fill the trough.
Now you've got people trying to buy houses, so builders are booming making new houses, the market and speculation goes through the roof, which means more people taking out loans to buy houses, or entire development companies that basically flip houses by the hundreds.
But eventually you have to start selling loans to house pets and crazy homeless people to keep the pumps primed, and at that point you cannot hide that what you're selling is 99% shit, 1% gold, with a 1% margin of error.

Neither party are Christian either
They're jews

trashing the pensions was the most heinous shit, everything else was run off the mill jewry

was it mostly blacks who were defaulting on their loans?

Has there ever been a time in history where poor people didn’t ruin everything?

t. robber baron