The other gougers

Submitted by Matthew on 4 February, 2016 - 10:59 Author: Barry Finger

I enjoyed Ira Berkovic’s review (Solidarity 390, 20 January 2016), but he may have short changed the big shortcoming of The Big Short.

The Michael Lewis source material gives too much hero status to the subjects of this movie (and book) who created a far wider crisis by creating yet another, and hitherto nonexisting, market to short the worst of the subprime securities.

These outliers didn’t just enrich themselves, but enriched themselves at the expense of the very same people that the movie argues were fleeced entirely by other gigantic, too big to fail, Wall Street firms and their rating agency and mortgage lender accomplices. That is, the “heroes” were fully culpable partners in this vast plunder operation.

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