Too Big to Fail - AIG

Eldora 2022-11-26 18:20:15

This film is more like Paulson's promotional film. In the midst of the financial tsunami, in the face of a greedy investment bank tycoon and a difficult Congress, he exhausted his energy and tried all kinds of rescue methods, and finally stabilized the almost collapsed market confidence. .

The chosen protagonists are all resembling real-life characters.

In the film, Buffett is like a wise man. The financial world is in chaos. He still agrees to accompany his grandchildren to eat fast food, and then makes an understatement, making profits and stabilizing market sentiment.

The one that best fits the title of the film is too big to be reached. It should be AIG (American International Group). As a world leader in insurance and financial services, its business involves property, life insurance, pension management services, financial services in more than 130 countries around the world. Services and asset management industries. Once it goes bankrupt, it will have an impact on the global economy.

Several world-class investment banks in the film, once one of them goes bankrupt, others closely related to its business will be affected or even go bankrupt. The most frightening thing is that the bankruptcy of an investment bank will dampen investors' trust in the market, and trust is the financial industry. the basis of existence.

Speaking of this, off-topic, I think in "A Brief History of Humanity", the biggest difference between human beings and animals is that human beings can create fiction, create illusions, create beliefs, and the beliefs of thousands of people in something unite them Up, such as empire, such as religion, and such as money mentioned here. From the very beginning of bartering, to now being able to pay by brushing your face, in the final analysis, it is the role of trust. Today, the real currency in the world is only 10% of the currency used, and the other 90% is virtual. Once trust ceases to exist, it is easy for investors to withdraw funds, run on banks, chaos, deflation, economic regression, and so on.

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Extended Reading

Too Big to Fail quotes

  • Mack's Assistant: Tim Geithner's calling again.

    John Mack: Cover your ears. You tell Tim Geithner to fucking blow me. I'm trying to save my company.

  • Michele Davis: They almost bring down the US economy as we know but we can't put restrictions on how they spend the $125 billion we're giving them because... they might not take it!

    [the Assistant Secretary of the Treasury for Public Affairs upon hearing that the 9 bank CEOs may refuse to take free money from the federal government if they had to be held accountable for how they spent it]