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The big short explained5/29/2023 These are all good points, though not completely without controversy. evil, and downplays the significance of post-crisis reforms. ![]() ![]() ![]() Michael Grunwald has a new piece that does a nice job pointing to three other problems: the movie overstates the importance of complex derivatives, understates the role of stupidity vs. Many people were aware of the housing bubble, but only a few were able to figure out how to make money off of it – and just had bad it was going to get. For example, it overstates how few people saw the crash coming. That said, the movie had some significant issues. ![]() It’s totally entertaining, and captures some hard to explain and very interesting dynamics in the lead-up to the housing crisis and the eventual bursting of the bubble.
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