The heads of Wall Street's biggest investment banks were summoned to an evening meeting by the US Treasury Secretary, Hank Paulson, to discuss the plight of another - Lehman Brothers. After ... Read allThe heads of Wall Street's biggest investment banks were summoned to an evening meeting by the US Treasury Secretary, Hank Paulson, to discuss the plight of another - Lehman Brothers. After six months' turmoil in the world's financial markets, Lehman Brothers was on life support ... Read allThe heads of Wall Street's biggest investment banks were summoned to an evening meeting by the US Treasury Secretary, Hank Paulson, to discuss the plight of another - Lehman Brothers. After six months' turmoil in the world's financial markets, Lehman Brothers was on life support and the government was about to pull the plug. Lehman CEO, Dick Fuld, recently sidelined i... Read all
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A very poor man's Big Short
There were scenes with real dialogue with serious consequences...and lighthearted sitcom theme music. So weird.
Wolves entering Wall Street
Although other films have subsequently been made, this one was first out of the blocks.
Lehman Brothers is a bank that has been in business since before the American Civil War. However in September 2008 they were in meltdown. Over the weekend the US Treasury Secretary (James Cromwell) has assembled the best of Wall Street in downtown Manhattan to save the banks from going under from its toxic assets.
They need to save the capitalists system from the Russian and Chinese.
Of course a lot of the others assembled in the room have their own toxic assets lurking behind them. We have drama, recriminations, plotting and even back stabbing, as they go about to save Lehman Brothers and maybe even their own skins.
James Cromwell as Hank Paulson cajoles them and at one points begs them to get things together.
Given that this drama might look dense and complicated because of the labyrinth nature of the deals that caused the crisis. It is raw human edged emotions that carry this drama through.
At the end we are left with shallow but rich people who still ended up doing rather nicely for themselves. All of the banks apart from Lehman got bailed out. After all Paulsen was the ultimate Wall Street insider.
The cast is a mixture of North American and British actors (playing Americans.) Cromwell given his size towers above the others. Even though politically he is the polar opposite with Paulsen's views, he does convey the urgency of the situation very well.
good if you know the story behind it
A narrative guy who is ID and responsibility in the company is unknown is talking randomly and not giving much insight.
We see a meeting room full of people but we don't know who they are. So if you are not familiar with the full story, I suppose you would struggle to follow.
Also terms are used is fine for a person with finance background but wouldn't mean much to others.
Overall a nice attempt but not to the point - leaves blanks to fill and the effect of the collapse has gone untouched.
Tale of greed, imperiousness .. somewhat laconic ..
Right story, wrong audience
It was also a great story told very poorly. There was a brief voiced-over introduction by an irrelevant character but, nothing nearly in depth enough to initiate the casual observer as to the historic nature of the Lehman Brothers bankruptcy. In fact, we enter the story well into the crisis. Again, insiders would not have cared but, the casual observer, the people who need to watch this, would not have understood the references to Bear Sterns, Fannie Mae or Freddie Mac without some introduction or "ramping up" to tie the threads together and put the event into perspective. As such, without the before (Bear Sterns, Fannie and Freddie) and the after (AIG, Wachovia, Morgan Stanley), the story is about one rich dude with a bad attitude trying to get a number of "suits" to help him out of a jam. In actuality, it was a serious event the full implications of which we will not know for many years. The fact that 47 percent of Americans think the Republicans would do a better job of running the economy indicates how little about the causes of this crisis main street really understands; they are ready to give the keys to the car back to the guys who ruined it in the first place.
All in all --- important story directed at the wrong audience.
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John Thain: Are you gonna help them? AIG?
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