The Big Short

While doing homework today, I had the film The Big Short, playing in the background.  It reminded me a lot of my father. I’d like to reflect back to my childhood in this post.
I think I was about 12 years-old, but am not completely sure.  Our suburb in central Ohio had a weekly newspaper, usually not very interesting, there was a “police beat section” that dripped with the mundane of the suburbs, the self-congratulatory student honor rolls, marriage announcements, house purchases etc.
In this particular memory of my father, the newspaper had published data on the average education and income of an adult in the suburb, and household income. My father sat reading the article and let out a laugh, like a laugh I’d never heard, in my mind like one of an evil villain cartoon character. Smugly, he explained that he was earning more than the average household income and that they had two incomes and unlike him had college degrees. It was as if he had won against them, I saw insecurity and hubris.
The other laugh I remember distinctly was a few years later sometime in my mid-teens while I watched my father in a business suit put on his tie, he was on his way to court being charged with multiple counts of securities exchange fraud. I asked my father, vice president of the firm, if his boss ‘Red’ was going to go to prison.  My father laughed, quite a similar laugh to the one from a few years before and said “No, Elena, he is a very smart man.  No one is going to prison.”  He was right and just like the people in the film The Big Short , a bunch of white men thought themselves very smart, were fraudulent with the banking system, and never went to prison.  Just like those men even after being found out, my father continued on with the same and opened two more firms, until my father was finally shut down—unlike those men he was a comparatively very small fish.
I wonder what it is going to take for this system to finally stop and have a final crash…In 2007 it crashed and we the taxpayers bailed out the banks.  We have to have an educated society who stands up against fiduciary irresponsibility and I don’t see us there.  I don’t hear our collective, I only hear my fathers laughter, and that “No, Elena, he is a very smart man. No one is going to prison.”

One thought on “The Big Short

  1. Unfortunately, I think it’s going to take a great depression and possible French style revolution before things get better. But if you notice, this is a general pattern among humans. Things get bad, huge explosion of violence. Things calm down. Now even more so there are too many things that are interdependent on one another. It would take a massive downfall to really change things, I think…

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