Hello and welcome back to the podcast I'm Michael I'm Noe we are the Knights of
Entertainment a podcast covering your favorite and unknown movies games comic books anime
and more weekly we appreciate you being here and hope you enjoy the show this is what we
are covering tonight I'm covering the 19th now then you know sometimes you just fuck
up I'm covering the 2015 movie the big short but before we do like share and subscribe to
the channel you can enjoy the show on YouTube Spotify rumble Odyssey and more we also have
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buymeacoffee.com forward slash koe podcast alright so the big short is basically well it's based on
a true story which when a movie is based on a true story it's almost always completely
read dramatized to fit the narrative of the story because real life isn't story-esque you know like
if you're if you're in real life you're like you tell someone a real-life story when you're
telling them history and history does not fit a story of a book format it'd be like another
alligator jump to the window you're like what what do you mean what the fuck are you talking
about but you believe it because it happens and it has a story that happened the Florida man and
the fucking Florida man stories are wild as fuck and okay so it's the 2015 movie the big short
about the 2007 housing market crash just what you've seen it have you seen the big short fucking
fabulous movie like I watched that shit to be fair it's been a long time but yeah it was it was like
1155 at night right I'm like should I go to bed or should I make bad choices so I went on Netflix
let's watch a movie bad choices yeah let me stay up to 4 a.m. and fucking crash tomorrow morning so
I wasn't expecting it to just like hit as hard as it did but this movie is if you if you're trying
to make a screenplay this is the type of movie you watch because there is no fat on this movie
every scene it gets to the point and it moves on there's no lingering there's no overexposition
there's no fancy dialogue it is it's to the point you move forward to the point move forward that's
any scene you have to start at the end think about what your goal is in that scene and move
to the next scene don't I was watching an episode of the walking dead and that shit just kept fucking
dragging and drag I love the walking dead but some of those things just fucking drag and fucking
drag and I'm just like my god they just drag I'm watching Shane lick Laurie's belly button and I'm
like it's just taking too long so if you watch this movie if you get to the point move on so
basically it follows three groups of people it follows well I should tell you who the first of
all it's it's based on a book the big short by Michael Lewis which I ordered because I got to
read it now it was a dollar a dollar and like fucking six dollars tax so a seven dollar it's
like a six dollar shipping and handling that's how they do it like oh this books only a dollar
fifty seven dollars shipping handling like god dang so Michael Lewis wrote it it's a journalist
so it's a it's a true story just not the the fictionalized version in the movie right the
screenplay was by Charles Randolph and Adam McKay who also directed it Adam McKay also
directed the movie I'm trying to memorize screenwriters now for movies so you know if
I want to write my own screenplay if I actually reach the ones that I actually like oh he makes
good movies oh he writes good movies you know I mean all right so it is what so it follows who's
starring it so the star is Christian Bale it's an ensemble so it's Christian Bale Steve Carroll
Ryan Gosling and Brad Pitt and each of them are in their own separate groups so we start with
Scion Capital it's the the the actor that come off fucked all over the place I'm so tired so
it's so silent capital played by the characters Michael Burry played by Christian Bale and he
runs silent capital this hedge fund he's a hedge fund manager he runs his money for these people
and he I guess picks what places to send the money to invest for them and generate more money
for him so he's like he somehow for some reason he figures out that the housing market is about
to fucking collapse when they defaulted oh seven so he's like he has this fucking grand plan to
short the housing market and everyone everyone says that it's the most stable thing out there
like they're lying their tagline is who's not gonna pay their mortgage so that is the fucking
that's what they believe every all these banks all these all the lame people everybody so what
everyone believes the the housing market is fucking impenetrable I say I remember that too yeah
remember what they were saying on they're like not just a movie but if that happened in real life
oh yeah I remember that so they're like it's fucking infallible and so he's like wait a minute
because he's like he's like he's one of those like super socially awkward like geniuses with
math so he's like putting numbers together in his head and he figures out that if he takes out these
loans and so he creates a credit default swap market allowing him to bet against or short
market-based mortgage-backed securities for profit and so he just goes to all these banks so basically
what he was doing is how I there's a couple of these big companies like with GameStop where they
were trying to short GameStop saying that it's worth less like where is that why that's controversy
popped up yeah no they didn't have to do with that specifically right that was the same idea they
were trying to short GameStop because all these investors thought that okay if we take out a loan
and give everybody this amount of money we're gonna make money whenever they lose a bunch of
money right and then all these people came in with Wall Street bets and stuff like that that's
a couple years wasn't it yeah a couple years ago yeah was it last year it's very recent yes very
I can't remember the news people are losing their shit yeah cuz I sold off right before all that
happened which looked oh yeah you told me you were like the stock but Wall Street bets came in and
that's where the diamond hands meme came from because people that bought it it's like no no
just buy more because then it raises the price back right and then all those people that in those
companies that were like I think there was a BlackRock and a few of the others they came in
trying to make money and they ended up losing a fuck ton of money because they couldn't pay
back everything that they had bet against that's fucking why that's why you don't bet against
companies like because they will they will figure out a way to fuck you over well it was like the the
type of thing where aside from this people actually had a recourse to come back it's like fuck the
big banks now yeah we'll beat them at their own game they were wrong weren't they no they won the
companies or the people know the people did for the most part against GameStop against the companies
that were betting against GameStop good for them so they like there's people that became billion
close to billionaires from it damn yeah all right so Michael Murray Michael Burrell was
by just I'm gonna say there are actual characters as a fucking Christian Bale goofy as fuck Christian
Bale in this movie before Batman yeah or 2015 maybe after that's after Batman yeah so his long-term
bet exceeds 1 billion dollars of his investors money and they fucking flip out on him like that's
all their money the guy that got him started basically Lawrence Fields is like have you lost
your fucking mind you can't bet against the banks who did he was in a line who's gonna not pay their
mortgage and so Christian Bale practically has to put a something a cease on withdrawals of their
money because he has to keep paying the the premiums on the all these loans for because he'd figure
it out in like oh so 506 so he would have to keep paying these loans out until the default in in
07 he was doing a long-term bet so but he needed their money to keep it going to keep paying because
if you couldn't pay the Brabians I guess he defaults himself so he's like he pretty much
scared and everyone they're all suing the shit out of him everybody invested with this fucking
hedge fund is just losing their shit on him and so that's it that's pretty much what he's going
through with the whole movie so then Ryan Gosling is listening to a so this guy walks up to this one
banker is sitting down having drinks so he just closed the deal with Christian Bale's character
because he was he worked at the bank there and this other guy talks to him and he's like you
know you won't believe what this guy just did he's gonna short the bet of the housing market
said what who doesn't pay their mortgage that line every fucking all over this fucking baby I swear
because it's true people think that yes so then this guy goes up to the bar and Ryan Gosling like
what the fuck he's so happy about and they go you hear you this he's talking about this guy that
he's he just added he just bought these he pretty much invented Christian Bale's character pretty
much invented the credit default swap because they didn't exist at the time I guess is what they were
saying so it's a Ryan Gosling gets like like this to fucking flashlight in his eyes like like money
signs I wait a minute what so he finds out about it and he starts offering different people different
like hedge funds investment firms everybody credit swap to short the banking market or the the housing
market and nobody nobody bites except for Stephen Carroll Steve Carroll and his team they let's see
they so yeah because so Ryan Gosling runs Deutsche Bank or he doesn't run it but he's a member he's
a banker in the bank and he's trying to sell he's right do the same thing for other people and he
ends up meeting I should have probably prepared more so he ends up meeting Steve Carroll who has
his own little team and they got like maybe 50 million or something they have a lot of money too
but not enough to the level of Christian Bale and at first they don't want to they don't believe
him right because Steve Carroll is like there's one of those here's how they describe Steve
Carroll's character basically he when he was a kid he really read the Quran like he read it deeply
and it turned out he read it because he was looking for a mistake in God's Word he's the type of
person that reads the fine print within the fine print so he didn't believe when Ryan Gosling was
telling him that if this was gonna happen at the the housing market was gonna default in 07 and
all of the shit was gonna collapse so he did some research he went to Florida him and his team went
to Florida he they they went to a convention they went to a they went to a strip club and
Steve Carroll was talking to this woman and she was she was you can see her titties and everything
but at that moment you're like you're so invested in the movie you don't even think about it you
know you don't think about it wow and believe me when I deeply invest in something else everything
else is like a tunnel vision and she's saying that all he's telling her like all this is happening
to like you know in 07 when you're the all these mortgages default you're you're fucked right and
she's like on all my loans he's like how many loans you have like I got five houses he's like
so that strippers fucked and so Steve Carroll finally realized that this is true that this is
what's gonna happen so he he tells his second command like basically to all right buy those
shares from Ryan Gosling by the way Ryan Gosling he's the character he's the one in the whole movie
like every time you see him on screen he takes the whole fucking scene he's just that guy he's so
fucking funny and I know that character wasn't as funny until he got there I can already tell he
added some of the health some of his own shit so the guy calls him the the second command calls
Ryan Gosling and he's just as skeptical Steve so he asked him one question like is this legit like
what do you get out of this and Ryan Gosling is like all right let me be real honest with you this
is a hundred percent legit the fucking market's gonna crash in 07 that's gonna happen you guys
gonna make a bottle of a lot of money but when you do I'll be coming for my stake of that money
basically he's betting on them to make money so he can get money back he makes like 47 million
like they even showed a check with 47 million on it he's like he even talks right to the camera
he talks directly to the camera yeah I you know he's like I'm not the bad guy here I just got
coming out to make some money but he's over here just wiping his check 40 said I don't know if
you can even write a check for 47 million dollars so weird shit I've ever seen but there's a lot of
fourth wall breaks that he told Ryan Gosling talks to you it's fucking hilarious all right so that's
their team they're doing their thing so then these two guys named Charlie Geller and Jamie
Schepplin they run a very small firm called Brownfield Capital and by the way all these are
fictional characters that they had the base of a real people from the book basically so they run
a small firm out of their garage and they started with 110 grand that they generated into 30 million
dollars so they're like they're legit too like but they're still small time they're trying to get an
is the qualification to be able to do higher loans or whatever higher but I'm not a banker I have
no idea what the fuck they're talking about I'm just so embarrassed I was hard as fuck watching
this you just ride the random shit that interests me the most kind of the only kind of movie that
you've watched about finances works like I fucking like yeah like I'm just like man tell me more I
don't know what's going on but I'm invested and so they they're at they're at this fucking a bank
trying to get that is the loan or that is the qualification and they fail because they get they
need like a minimum like trillion in like assets or some shit they only have 30 million so they're
like fuck and then they find one of I guess Ryan Gosling's like charts for the the credit swap
short and they're like look they find it on the table because they're out there in the lobby they
they didn't even get to go to the office to talk to the people they didn't have to they they seen
some guy in the lobby to tell him fuck off in the nicest way possible and right here at this moment
the the scene stops and Ryan Gosling says like okay they didn't actually find this paper laying
and that's not how it happened in real life but for the movie that's how it happened but they
didn't just find a piece of paper and then it completely changed their their trajectory of what
they're gonna do that's the first time I've seen someone actually like actually legit say this is
a story element not real life yeah I was like oh and finally all the bullshit don't don't sell
me bullshit expect me to eat it like a cereal yeah so that for the story plot they found that piece
of paper or that like that portfolio it's like a presentation and they basically it was a backroom
deal they can't say that in the movie yeah something like that and so they take it back and they're
like whoa this is like like they're running the numbers too and one of the character one of the guys
I don't know if it's I'm gonna just say it's Charlie Geller or Jack one of them is friends
he's neighbors with Brad Pitt who his character used to be a legit Wall Street banker like the
cutthroat leaving dead bodies all over Wall Street type of banker yeah but he got so disenfranchised
disillusioned that he just he did away with like I can't this is this is the most immoral fucking
thing ever and he left like he's rich as fuck he's a he's a genius the banker you know he's got a
super credentials so they go to him because he's got more you know credibility than they do because
they're young upstarts and they're like Brad Pitt will you help us he's like I will help you on this
journey so he's like he's so low-key that you don't even realize is Brad Pitt cuz he's got a beard
he's got his hairs like he's a but it's a Brad Pitt yeah so they buy shares so now now fucking
Steve Carroll's group with Ryan Gosling Christian Bale Batman and these these two upstarts with
Brad Pitt they all have they're like the only three people groups in the entire world or America
that had that knows that the fucking bad housing market gonna crash at 07 and they're trying to
get the the credit swap thing to fucking take a profit right so there that's pretty much the
that's the whole movie now toward the end of acts to Steve Carroll the Brad Pitt group they
realize when they because they go to a conference of bankers and like housing market all this like
you know like like this really weird ass bad conference I guess everything has a conference
so like housing market real estate whatever has a conference they go to Las Vegas and they're
talking to various people and they're like they're trying to figure out whether they're evil because
they're basically taking sub par loans and they're bundling did bundle it like you're taking C loans
subprime mortgages was the big thing that's that's the subprime that's what they're doing they're
taking really shitty loans putting them together and saying they're triple a level and they were
giving them to people that could not pay them back in any way exactly they were giving it to fucking
everybody and they were like just fucking just writing checkbooks out it seemed like it's exactly
what happened and then they realized that right and then Steve Carroll realizes something really
bad he realized wait this is gonna this is gonna crash the economy and he just like they he realizes
that Brad Pitt realized that a while ago but he didn't say anything because the two guys were
dancing because they all do they had just got more shares yeah they were able to get double a loan
shares to bet against right and like don't dance you know what this means you know what happens after
every time 1% of unemployment rises like 40 40,000 people die I'm like God Brad Pitt what are you
talking about just don't dance he was so like calm about it but he was upset with them like
don't just don't celebrate don't celebrate the money that you're getting right now yeah because
like you're gonna crush a lot of people's lives I guess it's not really their fault they're just
betting against the market maybe they won I mean it's not like it's like if I if you're a false
betting like you say if this guy the surgery is gonna die or not but it's more of the the morality
of it yeah like you're profiting off like extreme profiting yeah they were man and then that is when
it's funny cuz at first they were all losing because they were the banks were lying like they
were they defaulted and those loans were unpayable and but they weren't saying they wasn't showing on
the the actual face value so the banks were lying their asses off at first until they couldn't yeah
and when they fucking crashed so when they crashed a brand-filled capital those two guys they made
84 million dollars out of the 30 that they invested so they made a small firm they made a nice chunk
of change for themselves it's funny because they asked Brad Pitt because he did most of the heavy
legwork he's like Brad I know you how you feel about the banks and how you do you think it's
immortal and you never wanted to be back in that world but why do you help us when we asked and
Brad Pitt just looked at you just like he's just like well you guys want to get rich huh that's
basically that's his answer you guys wanted to get rich so he helped him get rich yeah I mean
84 million dollars split between them and their investors probably nice chunk of change for him
yeah so Steve Carroll they invest like 50 million then they put like a hundred thousand a hundred
million shares I can't remember but their shit came out to like a trillion dollars Steve Carroll's
character made like 400 million dollars like he was set for life but he was so fucking devastated
morally because of like from what they said at the end of the the movie it's like eight million
people lost their jobs and like six million people lost their homes yeah I'm like god dang I don't
remember that at all I was too young it was bad yeah I heard from that was when we were around when
we were in high school it must have I guess my parents did well because we didn't lose our house
thank God for that but yeah like from one from going back and seeing it now in retrospect it
was fucking horrendous very very bad that's also around the same time that the car the industry
like the car industry the automobile industry when they had to be helped whenever Obama became
president of the bailouts yeah that's all part of it yeah they got bailed out the bank which I
think they should have been everybody got fucking bailed out yeah they shouldn't have been they had
to be no they didn't because all the people had their fucking 401ks and pensions they never got
anything back anyway so they still lost yeah well fuck people lost their 401ks completely bitch
that's why I said bailing the banks out didn't do anything whenever it becomes whenever a company
becomes too big to fail it's too big of a company damn because if it's something that oh we can't
let it fail because it you know it does this it does that shit you let it get too big then
imagine if Walmart fucking crashed but you still have targets of Amazon fuck Target you got dollar
tree dollar store and daughters all you got so alright so out of the big ones Christian
Bales character he invested a trillion dollars that motherfucker made him back 2.9 trillion 2.9
trillion dollars the guy Lawrence Lawrence feels the guy that was fucking about to have his head
down where I want my money back I want my money but he went to he went to his firm sat down like
I want my money back what he said he said Michael I want my money back he was so mad at him and he
made he made him personally four hundred eighty nine million dollars back he's like oh by the way
you're welcome and then then Christian Bell walked off into the sunset he fucking quit they all they
all lost their they all lost their fucking minds yeah like they were they were it's so weird seeing
people in the middle of something that they know is happening that no one else is even privy to and
it's like it's like it makes you feel like you're in that moment too is what made the movie so good I
felt like I was with them right so maybe I get this money but but if we do we're gonna fuck it
the whole morality of it all yeah but I'm like I'm still rich I still got I still gotta have a
house why can't I be rich you know what the real crazy part is the person that was the main part
I think it may have been the Christian Bale character the real guy is actually shorting the
US get bonds right now he's still at it yeah thought he was working only on water so what I
said at the end of the movie no at that time maybe but now he's yeah he's shorting the government
basically in the bond system oh no what the fuck does he know now that we don't exactly like he
thinks apparently that the US government and overall the US economy is gonna collapse son of
a bitch he's by right yeah I've seen that recently within the last five months that motherfucker yeah
fuck us again I think he said he has a 40 billion stake against the when the fuck did he get 40
billion dollars Russia you son of a bitch it's a good movie man it's crazy I didn't I didn't
explain it too well but uh you get the gist of it you can go watch it yeah and knowing coming out
of high school and everything how expensive houses were at that time and they sure haven't
got any less expensive no but that's another thing with a lot of the people that have been
buying real estate and stuff like that during the pandemic stuff even where it's like oh well we'll
buy it we'll turn around and try to resell it for like five times the amount and stuff the problem
with that though is is that the markets already starting to go down so luckily I got a house yeah
I mean not this house mine this is my parents house but my parents got me a house it's a real
shit huh I got a rebuilding my grandpa lives in right now but I'm just saying like the people that
were trying to take advantage of that whole housing market ballooning basically it's it's on its way
to collapse at the moment yeah that's the dumbest line that a bank could ever say oh by the way
there was three like they wanted to have these like moments where they explained something like
high-level economic concepts with actors that were like popular I mean they're still really
popular at the top right now like Selena Gomez was talking about something with blackjack as a as a
correlation or a what's the word like a mirror a parallel to the the the economy story she's trying
to tell I don't remember what the fuck she was talking she was basically she was betting that
she was gonna win the blackjack that's what it was she was betting that she was gonna win the
blackjack hand and then someone behind it was betting her a betting that she was gonna win
against someone else like I'll take that bet and someone was betting that the bet that they they
bet for Selena Gomez was also gonna win so that a person took a bet against that person so when
Selena failed that person failed and then the person behind them failed too it was basically the con I'm
still confused on the concept and that's the way a lot of the banks to do too where they assume that
what since they're gonna do good I'm gonna do good and then when they fail they fail and they fail
and they fail and then they had Anthony Bourdain he was using he was trying to teach me subprime
loans and it's he was a perfect teacher by the way he was like all right say I say I'm getting
my menu for the weekend right and I buy a bunch of halibut because I think that's what I'm gonna
that's gonna be the big seller for the weekend but then maybe during the weekend an article comes
out saying the halibut is just as smart as dolphins or that they're they're connected to
cancer growth so I don't sell as much halibut that weekend as I thought so now I got a bunch of
leftover halibut so what I do do I throw it out or do I figure something else with that well you
know I can't throw it out so what I do is I chop it up and I throw it into a stew and Monday morning
you got yourself some fish stew three with three day old halibut that's how you were saying like
instead of letting the loans throw throw them out they can combine them into those subprime loans
and then they just sell them as like triple-a those dirty motherfuckers triple-a loans because
whenever they're doing those subprime mortgages and stuff like that they would do it for people
that could they knew they could not afford them and repay them but then they would repackage them
and then sell them to a bigger company they're so fucking good yeah and then why do you think so
many people went into default and foreclosure and stuff like that that's why six million people
lost their homes I think this is probably the most intellectual conversation that we've had on this
fuck about economy and we're very smart we just don't we just pretend we're dumb as fuck I can't
articulate well what I want to say but my thoughts are profound the day the day I can right I might
have people jizzing in their pants like God he's so funny I just met that they're not used to this
from anything that I've covered so we can do it all people oh yeah so the third one was Margaret
Robbie she was in a bubble bath and she was like I don't know I don't know what she's talking about
I'm sorry but I remember anything she said I was trying to see if a titty will pop out you didn't
get that lucky though did you no she was drinking champagne she was saying something in her Australian
accent which is much better than her English accent yeah she's Australian but she's got to use
an English for certain movies and I was like I don't remember what the fuck she was talking
about there was something about banking I don't know what I remember Anthony Bourdain I remember
Selena Gomez I don't remember market Robbie they titillated her too much to the point that it
blinded you yeah yes I know what I'm saying try to use play on words you had it like like punching
a boxing bag or something or you know just jogging or or just sitting in an office like a like a
teacher but they had her in a fucking bubble bath they knew what they were doing they knew what they
were doing but they they completely they missed the point because I don't know what the fuck they
that was the point of it no wasn't they were trying to tell me something economic no they
wanted you to your focus to change I think had to do with something to the champagne too like it
was refilling like fuck what the fuck was she talking about Margot Robbie call me and let me
know let me know what you were talking about let's have a personal one-on-one conversation
she don't remember what it was either don't worry oh she's very smart she remembers she remembers
she remembers the line she'll just repeat them yeah basically just send me a bubble bath scene
a remake of the bubble bath just tell me what happened oh man it's crazy man what happens in
the world that we don't know about oh yeah and you only know about it years after years after
the fucking calamity happened mm-hmm well that's it for today nothing else to add um if you watch
it you watch out for Ryan Godley that man is he's jacked to the tits to the tits right now if you
get to that scene you know what I mean all right well I guess we will see you guys on the next one
more movies I might do the other Hanzo trilogy