Basically, Lewis Ranieri's mortgage bonds were amazingly profitable for the big banks....
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Margot Robbie:
Basically, Lewis Ranieri's mortgage bonds were amazingly profitable for the big banks. They made billions and billions on their 2% fee they got for selling each of these bonds. But then, they started running out of mortgages to put in them. After all, there are only so many homes and so many people with good enough jobs to buy them, right? So, the banks started filling these bonds with riskier and riskier mortgages. That way, they can keep that profit machine churning, alright? By the way, these risky mortgages are called subprime. So, whenever you hear the word subprime, think shit. Our friend, Michael Burry, found out that these mortgage bonds that were supposedly 65% AAA, were actually just, mostly, full of shit, so now, he's going to short the bonds, which means to bet against. Got it? Good... Now, fuck off
Basically, Lewis Ranieri's mortgage bonds were amazingly profitable for the big banks. They made billions and billions on their 2% fee they got for selling each of these bonds. But then, they started running out of mortgages to put in them. After all, there are only so many homes and so many people with good enough jobs to buy them, right? So, the banks started filling these bonds with riskier and riskier mortgages. That way, they can keep that profit machine churning, alright? By the way, these risky mortgages are called subprime. So, whenever you hear the word subprime, think shit. Our friend, Michael Burry, found out that these mortgage bonds that were supposedly 65% AAA, were actually just, mostly, full of shit, so now, he's going to short the bonds, which means to bet against. Got it? Good... Now, fuck off
Full Transcript
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Basically Lewis Rainieri's mortgage bonds were amazingly profitable for the big banks
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They made billions and billions on their two percent fee they got for selling each of these bonds
00:00:12.056 --> 00:00:15.099
But then they started running out of mortgages to put in them
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After all there are only so many homes and so many people with good enough jobs to buy them right
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So the banks started filling these bonds with riskier and riskier mortgages
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Thank you Hendry
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That way they can keep that profit machine churning right
00:00:32.068 --> 00:00:36.077
By the way these risky mortgages are called Sub Prime
00:00:37.025 --> 00:00:40.029
So whenever you hear sub prime think Shit
00:00:41.018 --> 00:00:43.006
Our friend Michael Burry found out
00:00:43.072 --> 00:00:45.022
that these mortgage bonds
00:00:45.034 --> 00:00:50.028
that were supposedly 65 percent AAA were actually just basically full of shit
00:00:51.088 --> 00:00:54.041
So now he's going to short the bonds
00:00:54.053 --> 00:00:56.997
which means to bet against
00:00:57.088 --> 00:01:00.056
Got it Good
00:01:03.019 --> 00:01:04.001
Now fuck off
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Movie Summary
The men who made millions from a global economic meltdown.
Actors
Margot Robbie
