Basically Lewis Ranieri’s Mortgage bonds were amazingly profitable for the big banks. They made billions and billions off of their 2% fee on each of these bonds they sold. But then they started running out of mortgages to put in them. After all, there’s only so many homes and so many people with good enough jobs to buy them. So the banks starting doing something different. Instead of creating mortgage bonds that were guaranteed by the US government, they started creating their own private mortgage bonds. No government, no pesky standards like good credit or minimum income. And then the big banks were able to fill the bonds with riskier and riskier mortgages and keep the profit machine churning. By the way, the risky mortgages are called “subprime.” Anytime you hear subprime, think shit.
The Big Short (2015)
SCARLETT JOHANSSON
A screenplay character in The Big Short (2015).
- lines
- 2
- words
- 168
- scenes
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- dialogue
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- shortest / longest
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Sample dialogue
Basically Lewis Ranieri’s Mortgage bonds were amazingly profitable for the big banks. They made billions and billions off of their 2% fee on each of these bonds they sold. But then they started running out of mortgages to put in them. After all, there’s only so many homes and so many people with good enough jobs to buy them. So the banks starting doing something different. Instead of creating mortgage bonds that were guaranteed by the US government, they started creating their own private mortgage bonds. No government, no pesky standards like good credit or minimum income. And then the big banks were able to fill the bonds with riskier and riskier mortgages and keep the profit machine churning. By the way, the risky mortgages are called “subprime.” Anytime you hear subprime, think shit.
scene 14, source scene 16 — EXT. SMALL WATERFALL - DAYMichael Burry found out these mortgage bonds that we supposedly 65% AAA were actually mostly full of shit, so now he’s going to “short” the bonds, which means to “bet against.” Got it? Good.
scene 14, source scene 16 — EXT. SMALL WATERFALL - DAY
Bookends
Michael Burry found out these mortgage bonds that we supposedly 65% AAA were actually mostly full of shit, so now he’s going to “short” the bonds, which means to “bet against.” Got it? Good.