10 of 13 people found the following review helpful
Terrible - made worse if you know anything about finance ............,
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This review is from: Wall Street 2: Money Never Sleeps [DVD] (DVD)The film is just a terrible mismatch of recent financial events, but written with only the most superficial understanding of events - it's as though someone put "financial crisis" into Wiki, took the headlines, and then used this to extend the original Wall Street.
The best (well, worst bit) is a speach Gekko makes to a room of financially astute listeners - it basically goes "CDO, CDS, SIV, etc. etc." - just a mismatch of financial terms that the general public might have heard, nothing coherent is actually said. They then all applaud and hail him a `genius' (not bad for doing nothing other than reciting some acronyms).
The whole plot is just superficial from a financial perspective (it's just buzz words strung together), the rest of the plot is highly unbelievable (it's basically a hijacking of Lehman's bankruptcy), and moves so quickly that it becomes incoherent at times.
I watched this back-to-back with the original (which I have obviously seen before) and I enjoyed the original, but during Wall Street 2 was sat there thinking "when will this end".
If you liked Wall Street, and particularly if you work in finance and actually know what CDO, CDS, SIV etc. are, then wait until this DVD is £5, as it won't take long.
It could have been so good, they had the proper CNBC anchors as part of the show, and a host of other financial semi celebrities (so long as you know your US commentators and economists that is) - sad, very sad.
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Showing 1-8 of 8 posts in this discussion
Initial post: 25 May 2011 14:18:00 BDT
Well, if you work on finance, you know it has created the crisis. Some people are getting tired of being slaved by finance, see Spanish revolution. Some may actually enjoy realizing what a bunch of (...) financial sharks are. Gee, they may even enjoy that even through a sweetened Hollywood movie!
In reply to an earlier post on 25 May 2011 14:48:51 BDT
Well, it could be the fault of the people in finance, or it could be the fault of the individuals (and countries) who borrowed beyond their means, hid their debts and lied about their financial status to obtain credit.
Unfortunately Capitalism and Socialism both result in the same problems, it's just a matter of who it is that is exploiting the rest of society.
As for the Spanish revolution, better get ready, because when the country is finally bailed out by the IMF, and the government has to cut pay, increase taxes and bring in austerity measures so that the people actually have to live within their means, then perhaps we will see a revolution - but it will not be brought about by people having been slaves to finance, it will be from people thinking they are entitled to a lifestyle they have not earned and not living within their means.
If you are actually interested, the financial crisis started with Bill Clinton strengthening the regulation around the Community Reinvestment Act and of repealing the Glass-Steagall Act - the Community Reinvestment Act forced lending to low income households who, it would turned out (you've heard of 'sub prime' right?) couldn't afford it.
So, you see, the whole financial crisis started with a socialist idea of giving low income households access to the same financial services and products as high income households (as, hitherto, banks had only been lending to wealthy households who could afford it).
viva la revolucion
In reply to an earlier post on 31 May 2011 15:47:44 BDT
If I might observe, Clinton repealed Glass-Steagall in order to prevent the banking industry moving en masse from new York to London in the light of Gordon Brown's removal of banking capital requirements.
Interesting where the fingers should be pointed, isn't it?
In reply to an earlier post on 31 May 2011 16:35:01 BDT
Last edited by the author on 19 Oct 2011 20:10:57 BDT
Indeed, but I blame Clinton on the basis that it really took the strengthening of the Community Reinvestment Act to started banks lending to people with NINJA - Brown only did half a job and was saved by a lack of developed securitisation market in the UK (otherwise I would love to have blamed him!).
That said, I think Greenspan and has more to answer for than Brown (alas).
Don't buy the DVD though, it's rubbish (to end on an intellectual note ;-)
In reply to an earlier post on 5 Jun 2012 14:50:13 BDT
i love how people in the so called 'business' make out they know they are doing like it is unquestionable logic. in reality, it is just like walking into william hill armed with a bit of knowledge gleaned just like sports betting. educated guesswork but no surefire long-term answer. however, this is done with public money, not theirs. it's like first class travel. largely only taken if you are not paying for it with your own funds. easy to make certain extravagent decisions if you are not the one paying the actual cost. the 'experts' love to denounce/slaughter socialism, then come running back towards it when the obvious happens. the intricate ponzi charades fail. can't have it both ways in ideology but they clearly do. there is room for capitalism. no question about that. overcharge for something that is not worth it, the market should decide that items fate. however, this should only be applied to the tangible. the stock market deals with a lot of intangible impossible to understand nonsense, designed to be a smokescreen to the majority for that very reason. and this should not a basis to undermine society and it clearly does. anyone who profits from the misery of others is like putting a suit on a pig anyway. having to live with that is punishment enough. measuring self worth in that way makes you a life loser. or does that make me a yoghurt knitter? perhaps it is comfortable for right wing conservatives to think that is the case.
In reply to an earlier post on 5 Jun 2012 16:09:41 BDT
Last edited by the author on 6 Jun 2012 08:59:35 BDT
NoDroneZone, you seem to forget that the general public was more than willing to borrow other people's money that they had not earned and could not reasonably expect to pay back - this is equally as unacceptable as the actions of those that lent money to them. In reality both the lenders and the borrowers should accept as much responsibility as each other.
I wish I could take credit for the following example, but I am afraid I cannot, however I think it is worth pondering ............
"An economics professor at a local college made a statement that he had never failed a single student before, but had recently failed an entire class. That class had insisted that socialism worked and that no one would be poor and no one would be rich, a great equalizer.
The professor then said, "OK, we will have an experiment in this class on socialism". All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.
After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little.
The second test average was a D! No one was happy.
When the 3rd test rolled around, the average was an F.
As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.
To their great surprise, all failed and the professor told them that socialism would also ultimately fail because when the reward is great, the effort to succeed is great, but when government takes all the reward away, no one will try or want to succeed.
It could not be any simpler than that:
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.
2. What one person receives without working for, another person must work for without receiving.
3. The government cannot give to anybody anything that the government does not first take from somebody else.
4. You cannot multiply wealth by dividing it!
5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation."
In reply to an earlier post on 11 Aug 2013 19:14:59 BDT
Brilliant. Couldn't agree with you more. 5 stars to you matey!
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