How many of you have heard of the 2008 SubPrime mortgage crisis and how many know the real reasons for this catastrophic event.


The financial crisis of 2008: the one linked to subprime mortgages, which led to the bankruptcy of non-scalable investment banks, has created millions of unemployed and a depression of which we still feel the consequences today and that has unveiled the dark face of financial capitalism, the so-called finance of toxic bonds.

The subprime mortgage crisis. The outsider traders and the business bankers saw it as an opportunity for profit, they bet on it by sensing the weaknesses of American mortgage loans.

There were some of the analysts on Wall Street, one of the most intelligent and intuitive, who began to check the true level of guarantee of sub prime mortgages, realized that 90% of these had no guarantees AAA, but not even BBB, they were simply rubbish, authorized by banks with the sole purpose of stimulating the mortgage budget, knowing that these were guaranteed in any case. The guarantees were created by systems called CDO. Which are nothing more than packages in which there are loans of low-interest mortgages. He was therefore the first to understand that a fake product could not be evaluated so much on the stock exchange, for this reason, a Big Betting down was a must for a Trader like him.

It is still not clear, right? let’s try to explain better:

You make a variable rate mortgage, He makes a variable rate mortgage, I make a variable rate mortgage. The Bank is therefore in credit with us 3, that is, that if we do not pay the mortgage, she will not review her money, losing, all clear up to here?

But we know that the bankers are credit engineers and in fact make a great invention, resell the credits to a third institution. Theoretically then I, you and the other are now creditors of this third institution, which then turns out to be an investment bank, that is a bank set up to divide these large credits into even smaller slices, stir them up a bit ‘between them and put them in smaller packages and resell them to the little savers (which could always be those guys I hypothesized above, me, you and him).

In practice one becomes a creditor of himself, but if he does not pay he loses the house and the money must still return to the Bank, the money that has bound 5 years to invest in a CDO instead will never see them again, because in the contract signed a clause acceptance of risks. Do you think that from the crisis of 2008 we learned the lesson? absolutely no, in fact all the newspapers now speak of the packages-nothing example that small Italian bank that some chickens bought. Because even the Italian banks are full of course and not only.

To summarize: We 3 are, (the types assumed above), the chickens who first ask for money from a bank that lends them to them, but they immediately return their money by selling the credit to another bank that in turn sells the credit to us chickens immerse it in jars of financial jam of which no one will check the ingredients and the rating.

This jam could also be good for us chickens if the Banks were honest and if they offered us jars of delicious jam selected, but follow me in this reasoning:

when a brewery has to keep prices low and sell more, what does it do? water the beer! the more water there is, the more beer can sell, but the beer will be less good.

Here the Banks decide to lengthen the jars of jam with the shit, putting in the beginning only a few drops of shit to, to keep the product easily salable, then slowly they always add more shit until you fill the jars with only the most highly selected financial poop and manage to get AAA quality ratings from the various Moody’s and Standard & Poors (obviously, please).

The fraud was well thought out and could even last a long time if it were not that, in the meantime, interest rates were raised by Bernanke (what was before Yellen, in short Bernanke was at the FED as Mario Draghi is at the ECB). The more interest rates grew, the more variable mortgage payments increased and the less people were able to pay them. A real time bomb.

Only one independent trader understands the big business, the manager of a fund, the dott. Barry of the famous film the Big Bet, decides to bet against knowing what will happen but not knowing exactly when it will happen. In fact, he short in 2005 and the collapse occurs in 2008. His prediction of direction was not wrong, he had “wrong” only the timing (and the ignorant of his partners gave him against as when the ignorant give against me). While the ignoramuses were against him for 3 years, he closed the operation with almost 500% profit, equivalent to almost 3 billion dollars …

Then there were two very young traders, 2 young guys who discovered Barry’s research almost by accident, they understand that he is right and they decide to invest the money of their fund, but they need a “leverage” that, in order to obtain it, you need a margin that they do not have, so they turn to a very rich Trader their friend and who decides to help them. The boys will earn 80 million dollars in this story.

In the end, the fund manager learns of this opportunity by chance, he also invests against the fund that rises with the losses of the subprime. In the end, his collaborators press him to close this downside bet, but he is a type of iron ethic and knows that this would mean playing the same game as Banks, destroying American and global families and people, and then referring the decision until Morgan Stanley, the bank against which he made the short, could fail. If Morgan Stanley had failed before he closed the short, he certainly, his collaborators and the entire fund he manages – despite being creditors – would never see their money again. Making a debt collection of a bankrupt company is a difficult thing … that’s why, in the end, he agrees to close the operation by earning $ 1 billion. This is a film that closely follows the events that have occurred, but as we say in these cases, any reference to facts or people is purely coincidental.


If you are one who buys a toothpaste just because “it is the most recommended by Italian dentists” and you do not wonder why it is so much recommended by those who earn in irons and do not check the ingredients of what you buy, then you risk too to fall into the trap of the Banks. If instead you are one that does not trust the ratings and has no experience / sufficient expertise to buy financial products, simply do not have to buy them !!

This that I have framed in my story is a film that follows much the facts, but as we say in these cases, any reference to facts or people is purely coincidental. However, I recommend you to see it very calmly at home, here’s the trailer:


Alessandro Sicuro for  Sure-com America

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