Saturday, November 12, 2011

modernhomeslosangeles: Films with Banking Crisis Themes

As time goes by and 2008 seems to stay in our rear view mirror, we are still asking ourselves how we, as a country, got into the financial state we are in at the moment.  The below films make it on my “Favorites” list of films that expose the corrupt practices of Wall Street and the Banking system; and how both failed our economy.  Was it testosterone and the lack of women on the trading floors amongst the viral men in a manic frenzy or was it poor regulation that has spurred this latest financial crisis where we see unemployment reaching above 9% and the housing market virtually collapsing, leaving many home owners without employment and thus not able to pay their mortgage.  The scenario is a vicious cycle as realtors are continually seeing resistance from the banking institutions to negotiate easily and smoothly while in short sale transactions.  The collapse was due to capitalistic greed that got the better of the men who ran a system dry.  

To help better educate my clients, I highly suggest watching the below films centering around the 2008 Banking Crisis and the failure of Wall Street in protecting investment clients.  Each film has it's own perspective and whether a documentary or a fictional theatrical release, the astounding brazen attitudes shown by the CEO's, CFO's and traders that are only self-serving, ego-driven, testosterone-crazed "professionals".

"The Inside Job" - documentary
I always tell folks to watch this tremendous documentary about the collapse of our financial markets.  It really is just Part I of a double-feature I suggest you take on in one sitting.  I find viewing the documentary "Client 9: The Rise and Fall of Eliot Spitzer" after viewing "Inside Job" one heck of an evening!  Remember, this is an Oscar-winning film.

"Client 9: The Rise and Fall of Eliot Spitzer" - documentary
What was most impressive about this documentary was the fact Mr. Spitzer sat down for a lengthy interview.  This film made me stop shopping at Home Depot.  That guy is nuts!  I really felt bad for Mr. Spitzer upon watching this piece.  This film shows the viewer how dirty politics can be and to what extent someone will go to remove someone from power.  Brilliant!

"Too Big to Fail" - HBO feature film
Directed by the brilliant Curtis Hanson for HBO Films, "Too Big to Fail" is my favorite feature about the crisis.  The all-star cast delivers a historically-based script that reveals what was happening behind the closed doors of the investment banks.  William Hurt is excellent.

"Banks and How to Break Them" - BBC documentary
The video above is the full-length feature you can watch now.  From the BBC, this expose breaks down the Financial Breakdown in 2008.  Crashes and Rallies.  Hedge Funds and Bundling Bad Mortgages to sell on the secondary market, including the investment banks.  On a side note, the soundtrack is great with music from Moby, Massive Attack, Beastie Boys, White Stripes, William Orbit...

"Margin Call" - feature film
Currently in release, "Margin Call" is a slow-paced story with a great performance by Kevin Spacey and a sinister performance by Jeremy Irons.  I could live without Demi and her monotone performance.

The state of the real estate market is constantly changing on a daily basis with new rules, requirements and regulations delivered at an alarming pace.  If you would like a current perspective of the market, allow me to assist you.

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