Speaking of movies, I recently watched The Big Short on Amazon the other night. I forgot what a terrific film it was. If you haven’t seen it, watch it . . . and if you have, you should see it again. Ten years ago, the mortgage market almost tanked the entire global economy. For those of us who lived it, we know how bad things were back then. Things that we thought would never happen or could never happen, were happening every day. Financial giants like Countrywide Financial, WaMu, Bear Stearns and Lehman Brothers disappeared and Fannie Mae and Freddie Mac were seized by the federal government. The movie didn’t focus on that, but rather how a few investors saw what nobody else seemed to see, which was how the mortgage market was being dominated by greed, fraud and false assumptions. The movie is an entertaining take on a tragic time in our history. It’s also a good reminder of how easily herd mentality can lead us off a cliff.
Author: Gary Acosta
Gary Acosta is an entrepreneur, public policy advocate, investor, and thought leader passionate about advancing prosperity for Latinos and other underserved communities.