The Big Short is a 2015 biopic drama biography film directed by Adam McKay and written by McKay and Charles Randolph, based on the 2010 book The Big Short: Inside Doomsday Machine by Michael Lewis about the 2007-2008 financial crisis triggered by the United States housing bubble. The film stars Christian Bale, Steve Carell, Ryan Gosling, Brad Pitt, Melissa Leo, Hamish Linklater, John Magaro, Rafe Spall, Jeremy Strong, Finn Wittrock and Marisa Tomei.
The film is best known for its unconventional techniques used to describe complex financial instruments. Among other things, features cameo appearance by actress Margot Robbie, chef Anthony Bourdain, singer-songwriter Selena Gomez, and economist Richard Thaler, who broke the fourth wall to explain concepts like subprime mortgages and bonds secured as meta-references. Several other actors immediately greeted the audience, most often Gosling, who served as the narrator.
The film started a limited release in the United States on December 11, 2015, followed by a widespread release on December 23 by Paramount Pictures. The film was commercially successful, earning $ 133 million on a $ 50 million budget. The film is also highly praised by critics, with many highlights of the performers' performances (especially Bale, Carrell and Gosling), McKay's directions and scenarios. The film won an Academy Award for Best Adaptation Scenario in addition to nominations for Best Movie, Best Director, Best Supporting Actor (Bale), and Best Picture Editing.
Video The Big Short (film)
Plot
The film consists of three separate but concurrent stories, loosely connected to their actions in the years leading up to the 2007 housing market crash.
Michael Burry
In 2005, eccentric hedge fund manager Michael Burry discovered that the United States housing market is very unstable, which is based on high-risk subprime loans. Anticipating the fall of the market in Q2 2007, as interest rates will rise from adjusted mortgage rates, it proposes to create a credit default swap market, allowing it to bet against market-based mortgage-backed securities, to make a profit.
His long-term bet, over $ 1 billion, was accepted by large investment and commercial banks, but because he needed a large monthly premium payment, it elicited his client's vocal unhappiness, believing he was a "waste of money". Many asked him to back down and sell, but Burry refused. Under pressure, he eventually restricted the withdrawal, angering investors. Eventually, the market collapsed and the value of the funds increased by 489% with an overall profit of more than $ 2.69 billion.
Future Partners and Jared Vennett
Deutsche Bank Seller Jared Vennett was the first to understand Burry's analysis, learning from one of the bankers selling Burry credit default swaps. Using quant to verify that Burry is right, he decides to go in, get paid to sell swaps to a company that will profit when the underlying bond fails. One of the wrong phone signals to Front Point hedge fund manager Mark Baum, who is convinced to buy a swap from Vennett because of his personal displeasure with the bank. The latter explains that the packaging of subprime loans into secured debt obligations (CDOs) is large enough to consider the AAA rating will guarantee the eventual collapse.
Baum staff investigated the Miami market, finding that mortgage brokers earned profits by selling risky mortgages to Wall Street banks, creating bubbles. In early 2007, when these loans began to fail, CDO prices rose and ratings agencies refused to downgrade bond ratings. Baum found a conflict of interest and dishonesty among credit rating agencies of an acquaintance in Standard & amp; Poor. Employee Baum questioned Vennett's motives, but he retained his position and invited Baum and the company to the American Securitization Forum in Las Vegas. Interviewed by Baum, Wing Chau CDO manager, on behalf of the investment bank, explains how synthetic CDOs create an increasingly betting chain on faulty loans - up to 20 times more than the loans themselves. Baum is horrified to realize that the fraud will actually undermine the global economy. He buys as much as possible, takes advantage of the bank fees and waits until the last minute to sell. Baum's funds reached $ 1 billion, and he regretted that the bank would not accept the blame for the crisis.
Brownfield Capital
Young investors Charlie Geller and Jamie Shipley accidentally found a prospectus by Vennett, convincing them to invest in swaps, as it fit their strategy of buying cheap insurance with huge potential payouts. Under the capital threshold for the ISDA Master Deal required to enter trades such as Burry's and Baum's, they enlist the help of retired merchant securities, Ben Rickert. As the value of bonds and CDOs increases despite defaults, Geller suspects banks of fraud. All three also visited the Forum, knowing that the US Securities and Exchange Commission has no rules to monitor the mortgage-backed security activities. They succeeded in making more profit than other hedge funds by reducing the higher rated AA mortgage securities, as they are considered very stable and bring a much higher payment ratio.
Geller and Shipley were initially excited, but Rickert was disgusted, citing the impending collapse and its impact; when unemployment rises 1%, 40,000 people will die. Furthermore, they are aware that banks and ratings agencies retain their CDO value to sell and shorten them before the inevitable accident. Horrified, they try to tell the press and their families about upcoming disaster and rampant fraud but no one trusts them. When the market begins to collapse, Ben, on holiday in England, sells their swap. In the end, they make a profit of $ 80 million, with their belief in a broken system.
Epilogue
Jared Vennett earned $ 47 million in sales from swap. Mark Baum got better from the financial collapse, and his staff continued to operate their funds. Charlie Geller and Jamie Shipley split up after failing to sue the ratings agency, with Charlie moving to Charlotte to start a family, and Jamie was still running the fund. Ben Rickert returns to his peaceful retirement. Michael Burry shuts off after public reaction and some IRS audits, now only investing in water commodities. It should be noted that by 2015, the bank sells the CDO again under the new label: A "Trane Pending Opportunity".
Maps The Big Short (film)
Cast
Production
Development
In 2013, Paramount acquired rights to Michael Lewis's 2010 Big Lewy's Intimate the Doomsday Book, to develop it into a film, to be produced by Brad Pitt Plan B Entertainment. On March 24, 2014, Adam McKay was hired to write and direct the film about the housing and economic bubble. Screenwriter Charles Randolph, who co-wrote the film with McKay, said one of the first challenges was finding the right tone for the film. He says Creative Screenwriting , "In general it's trying to find the right tone that's a bit more funny than your average Milo? Forman comedy, all of which are based on character but not too satirical where you got < I> Wag the Dog. Somewhere in between is what I shoot in. Once I get the tone down, then I go through the plot.The market movement gives you the underlying plot.You make your short deal, then the bank tries to push you out, and then it's all off so it's pretty easy, and it provides a character bow against it. "Two years after Randolph wrote his draft, McKay, as director, rewrote the Randolph movie scenario. It was McKay's idea to include celebrity acting in the movie to explain the concept of finance.
Casting
On January 13, 2015, Variety reported that Brad Pitt, Christian Bale, and Ryan Gosling were set to star in the film, with Pitt producing the film along with Dede Gardner and Jeremy Kleiner. Plan B Entertainment will fund, with Paramount handling distribution rights. Prior to this, Pitt had starred in the adaptation of the writer Moneyball , whom he was nominated for an Oscar. On January 14th, it was announced that Steve Carell would also be starring. On April 21, 2015, more players are downgraded by Deadlines , including Melissa Leo, Marisa Tomei, Tracy Letts, Hamish Linklater, John Magaro, Byron Mann, Rafe Spall, Jeremy Strong, and Finn Wittrock. Charles Randolph wrote the initial draft. Max Greenfield joins the film's ensemble player on April 23, 2015. Karen Gillan tweets about her involvement in the film on May 8, 2015.
Filming
The subject of photography on film begins on March 18, 2015 in New Orleans, Louisiana. On March 25, filming is underway at General De Gaulle Boulevard in Algeria in New Orleans. On May 8th, Gillan confirmed that she was filming the scene. On May 20, 2015, the filming took place at Mercer, between Prince Street and Spring Street in Manhattan, New York City. On May 22, the production crew reinvented the offices of the failed investment firm Lehman Brothers in the lobby of the New York State Department of Financial Services in Manhattan. Assistant advisor to the Financial Services Department plays one additional on the scene.
Release
On September 22, 2015, Paramount set the movie for a limited release on December 11, 2015 and a broad release on December 23, 2015.
The film was released on DVD and Blu-ray on March 15, 2016.
Reception
box office
The Big Short grossed $ 70.3 million in the United States and Canada and $ 63.2 million in other countries worldwide totaling $ 133.4 million, against a production budget of $ 50 million.
The film was released in eight theaters in Los Angeles, New York, San Francisco and Chicago on December 11, 2015 and earned $ 705,527 (an average of $ 88,191 per theater). It set a record for the best per-screen gross for movie opening in eight locations, breaking the previous record held by Memoirs of a Geisha ($ 85,313 per theater), and representing the third largest theater in 2015 behind four screen debuts Steve Jobs ($ 130,000) and The Revenant ($ 118,640).
The film was widely released on Wednesday December 23, 2015 and earned $ 2.3 million on the first day. On the opening weekend it grossed $ 10.5 million, completing 6 at the box office.
Critical response
At Rotten Tomatoes, the film earned an 88% approval rating based on 281 reviews, with an average rating of 7.8/10. The site's important consensus reads, "The Big Short approaches a serious subject, complicated by an impressive attention to detail - and managed to give a well-meaning and deceitful indictment of real-life criminals in bargaining. " At Metacritic, the film has a score of 81 out of 100, based on 45 critics, showing "universal recognition". Viewers surveyed by CinemaScore gave this movie an average rating of "A-" on a scale of A to F.
IGN gave this movie a score of 8.6/10, praised its "energetic direction" and made "a complex story palpable for the layman even when it triggered the anger on the fatcats that helped cause it".
The New York Times ' "UpShot" series states The Big Short offers "the strongest movie explanation of the global financial crisis". The series also states that "can not necessarily be monetized as successful as a character in The Big Short." The success of this film is due to the work of the actors who play the characters.
Film critics with a background in finance also commented on the film. Many agree with the public that The Big Short is entertaining and interesting, but also frightening. Glenn Kenny reports that the film accurately conveys his message even though the lives of the characters are not interconnected, their story.
Steve Eisman, who is portrayed as Mark Baum in the film, says that he respects Carell's depiction but that is not 100 percent true to his original character. Eisman told The Globe and Mail that he felt his character was too funny. Instead of having a sense of humor, he feels that his character should be angry all the time.
Accolades
Adam McKay and Charles Randolph won the Academy Award, BAFTA Award, and Writers Guild of America Award for the Best Adaptation Scenario. They also won the Empire Award for Best Screenplay. Christian Bale won the Critics' Choice Movie Award for Best Actor in Comedy and Satellite Award for Best Supporting Actor (Motion Picture). Hank Corwin won the American Cinema Editor Award for Best Edited Feature Film (Comedy or Music) and Los Angeles Film Critics Association Award for Best Editing.
The film received the Best Critics Film Award for Best Comedy and was named one of 10 Best Films of the Year at the 2015 Film Film Awards. Dede Gardner, Jeremy Kleiner and Brad Pitt won the Guild of America Producer Award for Best Theatrical Motion Picture. The players also won the National Board of Review Award for Best Ensemble.
See also
- The Big Short by Michael Lewis
- Lehman Brothers Bankruptcy
- Great Recession
- In Work (movie 2010)
- Margin Call (movie)
- Too Big for Failure (movie)
References
External links
- Official website
- The Big Short on IMDb
- The Big Short in Box Office Mojo
- The Big Short at Rotten Tomatoes
- The Big Short in Metacritic
- "The Big Short" in Tzivi Second City
Source of the article : Wikipedia
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