Steve Eisman: “They mistook leverage for genius” 

TheClimbTo1 Pitt was fine - gave a good performance

Pitt is just equivalent to Pamela Anderson 😃

@@lunarmodule6419 What does that mean

@@kbanghart good looking - bad acting

@@lunarmodule6419 good acting, imo

He actually did at first I gave him crap because it felt like he was playing Dupont again. Who was the crazy mogul who thought he was a wrestling coach and shot an all time great Olympic wrestler.

They almost sound the same!

he does not imitate him, he created a character from references, that's acting

@Armenias Thunk what the fuck do you want him to say?

@Armenias Thunk Lmao imagine getting this mad at someone being impressed at an actors portrayal. Eisman himself said it was a good portrayal.

Yeah, she represents something other than the Big Lie, and without being the center of attention(Mike Wallace, and almost every other US pundit con or lib, are you listening?) she opens him up and by her work provides a substantive perspective. Yeah, I know, it's almost un-recognizable, isn't it.

Cute, too! (Yes, I know, sexist...)

Meh

Mo Mentum She was not very professional she's obviously triggered by Drumpf.

Exactly my thought. A great interview.

Plus, the way it was filmed! Having other well known faces come in via the 4th wall, talk directly to the camera and then disappear. Pretty genius thing right there.

rockn roll u can defenitely see this guy socially aggressive. He was like that back then cuz he was one of the few who knew how baad the situation was

Steve acts oyt the. Aggressive Jewish guy perfectly. Correct.

Me too. Brilliant conceived, important film.

Perhaps you should read a book. Like... this book.

I love to see him to more interviews. I definitely want to hear what he is thinking.

You nailed it. He was/is 100% right.

People tend to listen to the one who's most confident, not the one who knows more.

2019 Deutsche Bank is a fucking penny stock

@@colonelburton8451 🤣🤣🤣

Such a beautifully written comment!

Is this a joke? Why do Americans think that anyone with an English accent is a genius. Her questions are quite basic. Most European journalists behave in thin manner. We Europeans don't suffer fools..Americans are not used to this. American politicians wouldn't last 2 weeks in any government in Europe. The press alone would slaughter them, not in a populist way, but in a deep investigative way. Our Journalists dig deep. Every skeleton in every closet will he exposed. Most news reporting in Europe ( I'm in Ireland) is conducted without the drama normally used in the US to feign intelligence and mask ignorance.

@@Hiram1000 bro who the fuck asked you they were just complimenting a good interviewer

Yeah bro the daily record is a class rag

@@Hiram1000 How do you know he/she is American? I hope by your statement you don't mean ALL Americans, just as I know that ALL Europeans aren't complete arrogant jerks who think Americans are stupid and naive. Naturally, with over 330 million Americans, we have a greater percentage of ne'er do wells and absolute morons, but we're not ALLLL like that. "American politicians wouldn't last 2 weeks in any government in Europe." Is that meant to be an admission of the mess that is European guvmint?? I'm conservative because government by its nature is terribly flawed. Government isn't the solution to the problem...government IS the problem. And the media is ALL too happy to contribute to that problem...on both sides of the Atlantic. And by conservative, I don't mean Republican. All that said, I'm very proud of my Scots-Irish-Scandinavian ancestry.

paaatreeeck She have beatiful smile and teeth

She is a feminist so stay away.

@James Dowds Feminists have no nuance in their brains.

@James Dowds Are you a feminist? #metoo #believe

@@biplav32 by your own definition you sound like a feminist rofl

@TryllaTröllMaistre Fictitious Fables of Europa I think that was very realistic. As you delve into the world of finance you learn that you're only a speck of dust in the sea of the market. You really can't do anything to change it. The only thing you can do is react to it sadly; even if you know what's going to happen. This is implicitly told in the story where Jamie and Charlie try to warn the people by contacting the Wallstreet journal for which the journalist did nothing, telling their family of what would happen which nobody listened to. Mark going around telling people how wrong the system which absolutely no one listened to; not even Morgan Stanley, leading them almost to bankruptcy. The market is essentially moved by the people in the market and their fear and most importantly greed. Greed is the ultimate human nature and survival instinct so it's impossible to make the market rational because people just aren't rational. It's sad, I know, but that's just how history repeats itself. As a person who can really strongly relate to Mark Baum (or Steve Eisman), I would think that's what he realized too. Even if you want to save them, you just can save those who aren't willing to listen to you.... Hence the reason why he mentioned the analogy of Noah's arc I believe.

​@TryllaTröllMaistre Fictitious Fables of Europa So about the one administration comment, it doesn't matter how many administrations runs how much. Even if a couple run an equal amount, if one starts selling, the market is just gonna follow because it's basically driven by human emotions; mainly fear and greed. The housing bubble was a time bomb ticking that was just waiting for someone to pull the trigger. It really didn't matter who pulled that trigger. The system was ill-founded and as people are mainly driven by their own greed, they abused it to its core. Having no love for the creditors, I can understand that to a certain extent, because it was indeed mostly those who had insider information at least to a small degree that knew what was going on or knew what was going to happen. But to Mark/Steve's credit, that was why he was so mad at the world and the system because as he puts it "people care about the ball game, or what actresses went into rehab" "We live in an era of fraud in America. Not just in banking, but in government, education, religion, food, even baseball..." "What bothers me isn't that fraud is not nice. Or that fraud is mean. For fifteen thousand years, fraud and short sighted thinking have never, ever worked. Not once. Eventually you get caught, things go south. When the hell did we forget all that? I thought we were better than this, I really did." "I just know that at the end of the day regular people are going to pay for all of this. Because they always, always do." and I agree to everything he says. It's sad but people just don't care about the world, they only care for themselves. They don't take interest in the economy or politics, they care more about their entertainment. And those that do care about the economy or politics care only for their selfish needs. It's all about what "I" want and "my" selfish desires not being able see the bigger picture. That's what ultimately leads to turmoil, disaster, and crisis. And yes, though I try not to sound too much like so, I am bitter about the world, even to this day to an extent though not as much as the past for America. Which is why I can relate to the Steve Eisman in his past. Resetting won't fix anything. It will just eventually start everything all over again, just with different people. It would be a vicious unending cycle because you're not fixing the core issue; human greed, and you can't fix that unfortunately. In terms of the bible as you would put it, look what happened after the incident of the Noah's arc. People are just as corrupt as they used to be if not more. Nothing has been fixed and people just go back to the way they used to be, because in the end, you can't fix people.

@@Jeon1958able You're absolutely right, it's human nature, that's why we have these bubbles, crashes, corrections Human nature never changes

No ego? I think you're a little gullible.

@@aravindhanveeramani6142 Guys like this are why the Catholic Church forbid the number zero, back in the day. (Look it up.)

Always thought that was a strange move that he let his sensibilities get the better of him and basically advertised his short position.

@@mrtoad1408 because he was not in it purely for the financial gain. He says himself in this interview that although he was aware of the coming crisis, he was not hoping for it, on the contrary. He wanted to warn people of their own stupidity (but he was probably aware the probability that they would listen was ZERO!)

@@simonr7097 Very well explained!

@@mrtoad1408 You know it doesn't matter right? He's still making the trade of his life no matter what because he's betting against a market that's about to crash. The whole housing market of the US in that case. Not marketing his short position would only make more people lose everything and him getting a bit more of money. Which isn't illegal but is definetly immoral at that point.

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yG96RttfZtM.html

Bale sucked. Michael Burry is nothing like the crazy portrayal Bale came up with for who knows what.

Bale didn’t suck per se, it was a good acting job, but poor character direction A parallel can be drawn with Jared Leto joker. It was bad acting and bad character directions

It's all crap anyways.

@@charlesbaldo how so? They covered the financial disaster quite accurately.

Garrett K whats all crap is the Oscars. I loved the book and movie, lived the event working in a financial institution.

Nigga this interview trash, basic bitch questions.

@@mindfucker88 Interviews are about answers, not questions.

FIFTY6IX lol

I think you're right she's very good at drawing out information

It's scripted/pre planned. That's why she asked him things he just happened to think a lot about or answering yes to a long leading q

Are you serious? Very weak and shallow questions. Yeah, she's attractive. Stop with the pandering.

She's terrible, constantly hating on Trump. Total LOSER and evil bitter woman

@@pretorious700 Couldn't agree more. I think these questions have aged quite poorly and are very much a product of the time. Interesting guest wasted on questions with a very clear motive. Boring.

What came of them...?

People always swear more in movies

I see you also watched Margin Call.

It's called being bi lingual.

Ahah stupidity always surprises me

Zeitgeist X Americans cannot speaking English, so yh

Idiotic statement

CNN is total garbage. But i don't see what that has do with her speaking good english. I think CNN talks about supposed Russian election interference to distract everybody from real issues. Like the fact that they gave debate questions in advance to Hillary Clinton.

Yes

@rockn roll The euro has caused enormous problems throughout Europe. The countries on the Mediterranean, called 'Club Med', have been raped economically by using this currency.

Italy's problems were visible from a mile away. Italy almost suffered the same fate as Greece in 2008 and never really recovered from the crisis. Now Corona will do them in completely. But the overall issue in the EU, an issue that has been debated all the way back in the 80s when the first discussions about this topic happened, is the common currency. A currency usually reflects the economic strength of the country giving out the currency. Meaning if there is an economic downturn the currency's value goes down which in turn makes it easier to get exports back up. This makes it easier for countries to get back on their feet. Now in the EU everyone has the Euro and it kind of reflects an European average, meaning that economically weaker countries like Greece, Italy, Spain, Portugal etc. have a much more valuable currency than they should have, making it much hard for them to recover after a crisis. While economically strong countries like Germany can export much cheaper than they would be able to with their own national currency. Germany has a massive trade surplus and Germany's surplus is all its neighbor's deficit. The idea of this economic union does work in a half-assed approach like that. Either you need to fully integrate and have mechanisms to mitigate issues like these, or you need to go back to national currencies, which would be a very bad idea in my opinion.

@@BangThaBazie The US$ works because of the large capital transfers, from the richer areas to the poorer ones. These aren't in the form of debt: the money is *given* to the poor areas. This allows a single currency to service the needs of an area with many different economies. Germany refuses point blank to give money to Club Med, only allowing them to run up debts which, as you point out, their weak economies can't repay. Euro can only work if it follows the practices of the US$. That won't happen, so the Euro will destroy the EU far more effectively than political incompetence.

What 2018 Italian debt crisis? When did that happen?

Exactly

People on Wall Street are told by their higher ups to never worry about systemic risk. They know if the failure is large enough, they will be bailed out.

Good comment. But use [brackets] there instead of (parentheses).

@@daytonasayswhat9333 Huh? Where in English syntax are brackets used?

kasegi Yabu Start by looking up your misuse of “syntax,” then I’ll explain it to you.

😂

I see what you did there.

There is no hope. The majority of POS's you are given to vote for in Washington are in on it.

Sooooooooooooooo much higher! Stupid higher!

Bill bartman Yes, she doesn’t want to push for an idea. Besides, he doesn’t speak non-sense and that certainly helps.

Yes. Makes you wounder. If the government can just make things like this happen and then the banking industry revs up the leverage machine. Causing inflation and higher taxation. God help us all.🥶😈

Hold $AMC

They have commercialized and monetized the existence of humanity to a point where the indoctrinated masses feel their lives have no meaning unless they are consuming what they are told too.

Blinky Blonk Jim Acosta has to deal with hostile interviewees. She did not.

Thomas Headley if you think Acosta is a legit journalist with integrity asking the hard, gritty questions that need asking, then you’re a fool

Thomas Headley I don’t. None of them are. Political media is a cash grab. They don’t care about integrity or real journalism. But nice try trying to devalue my opinion as some gutless hillbilly.

Get you a man who looks at you like Jim Acosta looks at Jim Acosta, and you will be set for life.

@Thomas Headley a lion doesnt concern himself with the opinions of sheep. And you sir are q YUUUUUGE sheep.

Luke she's either phenomenally good at interviewing and doing proper research. and/or has a finance background

Probably a combination of both.

Luke She would have voted for Hillary.

And she's smart enough and courteous enough to let him talk - unlike so many ego interviewers. She did her homework and she did a great job.

She's Swedish, so I doubt that. She previously worked for the DN newspaper here in Sweden. She has a degree in political science (pol.kand)

How convenient that a virus originating in China destroyed Trumps economy, and now Nancy Pelosi and other democrats admit China wants Joe Biden to win. “Nothing to see here folks”

@@QuinnBlessed93 I have to say it's not just the US economy feeling the effects of covid, the Chinese market is also feeling it. And as for China "wanting" Trump not to be reelected, it might have something to do with the trade wars he's engaged in. Trump being re elected would strengthen China's position in my opinion.

Michael Sutton You’re correct that other countires including China are feeling the effects. The difference is that the US is in an election year, while they have a lifelong communist ruler. Their government can afford a recession or even a depression, and their power structure will remain the same. The US is in a power struggle, and China is shifting the leverage towards Joe Biden and the democrats for their own political purposes.

@@michaelsutton7053 lol China doesn’t want Trump not sure how anyone could think that

@@LiMitZplus China certainly prefers Trump over Biden. Contrary to popular beliefs, Biden wasn't born in Beijing.

Its worse now

I just recently got in the market and after learning a lot, I rlly enjoyed the movie

ru-vid.com/group/PL-aXa0lr5q4Wf1s6XU8d4Ob6DbuO4lJjV

Never french fry would you should've pizza'd

I know right! Real estate crisis 2.0?

Investing Intelligently it won’t be real estate causing this shrinking ship this time around, but it will widen the hole

Why would it be real estate?? This bubble has to do with unlimited QE and MMT.

@@akal1236 It can still be a housing crisis, granted it's under different conditions. JPM put aside 8 Billion+ of their own money for loan defaults + they canceled higher risk mortgages. QE is a sledgehammer to actual capitalism when it's used too frequently. Look at Bank of Japan and the ramifications. We basically become a perpetual Well fare state that can't have enough organic growth to survive a modest Interest rate hike without the system failing. There's a reason the interest rate are dipping negative on the futures. If don't stop QE soon we'll get to a point where we won't be able to dig out of.

hudsontoo1212 Well fuck a guy for making money like everyone else does

While I generally agree with your statement, he didn't just make a buck, he made a BILLION... so he's in no hurry as he says..

@@panama1942 I'm so late to the party that the place is an ancient ruin, but I'm guessing the OP is not dismissing people for making money, but talking about the sentiment that much of the finance industry makes money without adding value to the economy. And in my opinion, that is a far more interesting and reasonable claim to explore. I know several successful VCs believe that day-trading is practically gambling and much of what hedge funds do is bordering manipulation without benefiting anyone but themselves. I don't even remotely have the knowledge to examine the claims beyond what I want to believe and what the majority believes.

@@Muskar2 You’re not wrong, much of the finance world is just making new securities to bet on and make more money.

@@panama1942 The main pro-argument I've heard is that the securities can help price the market more correctly, but when it comes to high-frequency trading it probably doesn't help the company get a more fair evaluation for the rare times they need to raise capital (e.g. a few times a year). And overwhelming unprofitable startups with negative PR while massively shorting them is arguably neither optimal for the economy. And as I understand it, over-leveraging is the most common systemic flaw in securities.

If he’s honest the politicians won’t want to know him unfortunately.

JAW CRACKER JESUS they did. Repo market in September. Interest rates are going to go up and stocks are gonna collapse.

@@actualideas8078 but Stonks go up because printer goes BRRR

@@brendanmcgeown7043 wallstreetbets is leaking

3 years ago?

@@actualideas8078 - don't blaspheme

holy shit. haven't thought of that

Good observation!

Fucking lol indeed habibi! Great observation. Too sad that not many people watch this kind of interviews

In Band of Brothers Michael Fassbender is a member of the squad who first encounters a concentration camp, then later in his career becomes the nazi-hunting (and victim of the camps) Magneto in X-Men: First Class Not the same I know, but I thought it was interesting

@@baronvonfaust He also went on to hunt Nazi's in Inglorious Basterds

Daniel Marshall wow didn’t notice

And was taking care of you know who, even having a backdoor hand in sitting a justice on SCOTUS

Cite that

Tommy Petraglia and cite that

@@anagramconfirmed1717 Was Google down when you read this?

Zack Colbourne if one makes a claim, it's customary to provide citations along with those claims. Was your school system shut down when you read this?

Neither of those stmts are true.

Actually stock market changed big time since January. Big boys now killing retailers..

​@@George-cw2lk Um, are we looking at the same stock market?

@@Hagledesperado yes, but they are projecting narratives sold to them and looking for confirmation of their bias

He wouldn't get elected or stay elected long. Any number of things from personal skeletons to the very different dynamics between business and politics would kill any career he would build. At best, he'd be like John the Baptist: a lone voice in the wilderness. Lone voice politicians are not very effective. Most likely he'd actually resign due to the REQUIRED lack of ethics that is demanded of all politicians.

can you actually buy credit default swaps on student loans?

Me personally? No. Although I'm sure that Goldman Sachs could if they wished... take a look at this article: www.quora.com/Is-it-possible-to-short-the-student-loan-bubble I should probably say that I'm not suggesting that anyone go long or short on anything. I'm just of the opinion that the administration in higher education have collectively hurt the prospects and the futures of more young, naive, educated Americans than any other group I can think of. (Whoever happened to be responsible for the 2008 recession notwithstanding). I should say that I currently have no personal stake in this issue. My comments are mostly fueled by rage at the deliberate torturing of the concept of a non-profit institution by the University Administrations in this Country to fuel their own pockets at the expense of our future.

You cant, you need a special license to do those trades

The big difference when comparing student loans to the mortgage crisis is that the housing market was "backed" by the massive mbs market, where banks and people bet on a market that they thought was stable. There are no such thing related to student loans, therefore any potential delinquencies with student loans would be isolated to a single market. Not even remotely as bad as the effects of the housing market crashing.

I know of no reason why the student loan market couldn't be securitized. So... how can we be sure that it isn't? Is it not possible to do these things privately? Is it possible for a private network to be extensive enough that when a large private network crashes, that it doesn't bring down a score of other public networks as well?

And we are headed right back into trouble.

impossible to predict a literal global pandemic

Great hearing a billionaire talk about income inequality. Cleary he is part of the solution

Well put