My Must Watch Films to Understand the 2008 Financial Crisis

They Don't Want You to Understand It

I spent just shy of a decade working in some facet of the mortgage industry. I've seen predatory mortgage loans from the inside out. However, at the time, all I could do to help was better educate myself to help others. If I learned anything during my time in that industry, it's that they do not want the general consumer to understand anything. They're counting on us not reading those hundred-page document stacks, because if we did, we would probably never sign them in the first place. What happened in 2008 wasn't just the mortgage industry, though that's who took the brunt of the understood burden. The misunderstood burden was how so many Americans were affected, yet only a few responsible parties were punished, and the world kept on spinning without the right change. I am certainly not a professional, which is what qualifies me to tell you this: of all the documentaries, TV, film, etc. that I have watched on what happened regarding the financial crisis of 2008, this is the best collection out of Hollywood for the everyday consumer like myself to understand it better.

The Big Short

The amount of A-list actors in this one will surprise you. The mortgage industry uses terms that are difficult to understand, so throughout the film, they provide entertaining cameos to define such terms. One man did figure it all out before anyone else, and of course, they didn't listen to him. This film is from his viewpoint, providing an interesting look at the cruel side of our money. As far as understanding 2008 goes, this will explain how and why it changed the lives of our parents, grandparents, retirees, erased pensions, dismantled 401k's, and shook the world altogether.

Too Big To Fail

This is the one that will really piss you off. This movie is about the big banks behind the crash and the multiple countries and governments that were involved. Most people think the 2008 crash was all about mortgages. Surprise, that's what they want you to think. In reality, not only did our largest banks spend more than they had, but the largest insurers in the world, backing the biggest companies around, were also about to default. Not only was the American economy about to fail, but the world was about to financially shut down. The bailout that should have gone to the American people went to the banks. Again, just my opinion, but watch this film and if your blood isn't boiling, let me know. This is also why you should always consider a local credit union.

Madoff: The Monster of Wall Street

A Ponzi scheme so large and egregious, it took years to find because it was so unbelievable. Bernie Madoff is another major factor in the 2008 financial crisis, but his contribution comes on a whole new level of evil. Former chairman of the New York Stock Exchange, Madoff started as an eager and successful financier. However, as his business grew, so did his greed. Known as the mastermind behind the 65 billion dollar Ponzi scheme that started in the 1990s, individuals, businesses, and entities that existed for decades were suddenly gone overnight.