Exercises
Movie Scenes
The Big Short

Back

Instruction

STEP 1

Watch the video
STEP 2

Do the exercises
STEP 3

Add phrases you like to Favorites

Watch the video instruction

Video instruction

The Big Short - Jenga

Back

Add to Favorites

Step 1/2

Step 2/2

Edit the video clip

Select the trainings in which you want to add the phrase

Push this button, please

Use the slider to edit the beginning and end of the video clip

Do not show more OK

Click on a word you want to add to learning

Click on a word/words you want to add to learning

Click on the training icons in which you want to add the phrase for further study

Do not show more OK

Add

Cancel

Save

00:00 / 00:00

Shortkeys:

-previous subtitle

-next subtitle

-increase subtitles

-decrease subtitles

-pause the movie

-translate word

[]

Click on a word or highlight a phrase to see translation

Click "plus" to add word/phrase for learning

Start learning

1Watch the video Start the exercise

Category: Movie Scenes

Level:

Report video

Not available Incorrect subtitles Offensive content Other

video script

words to study

Hi, how are you?

Hey, Mr Bennet. Here we have.

- Let's see what you got. - You smell that? What is that?

- What? - What's that smell?

- Your cologne? - No.

- Opportunity. - No. Money.

- Oh... Okay. - I smell money.

- Okay.

- Chris... - Damn it. Sorry.

This is your basic mortgage bond.

All right? The originals were simple.

They were just thousands of triple A mortgages bundled together,

guaranteed by the U.S. government.

The modern ones are different.

They're private. And they're made up of layers of tranches.

Highest level, triple A, is getting paid first.

The lowest rated, B, is getting paid last, taking on defaults first.

Now, obviously, if you're buying B's, you could make more money.

But they're a little risky.

Sometimes they fail.

Chris?

Somewhere along the line, these B's and double B's went from a little risky

-to dog shit. Where's the trash? - Behind you.

I'm talking rock-bottom FICO scores.

No income verification.

Adjustable rates. Dog shit!

The default rates are already up from one to four percent, fellas.

And if they rise to eight percent, and they will,

a lot of these triple B's are going to zero, too.

And that...You're too close. ...is an opportunity.

Okay, you're saying that at eight percent the bonds fail

and we are already at four percent?

- That's right. - If they go to eight, it's Armageddon?

Yeah. That's right.

How come nobody's talking about this?

You're completely sure of the math?

Look at him. That's my quant.

- Your what? - My quantitative!

My math specialist. Look at him.

You notice anything different about him? Look at his face.

That's pretty racist.

Look at his eyes! I'll give you a hint.

His name's Yang!

He won a national math competition in China!

He doesn't even speak English!

Yeah, I'm sure of the math.

Actually, my name's Jiang and I do speak English.

Jared likes to say I don't because he thinks it makes me seem more authentic.

And I got second in that national math competition.

So, you're offering us a chance to short this pile of blocks? How?

With something called a credit default swap.

It's like insurance on the bond, and if it goes bust

you can make ten-to-one, even twenty-to-one return.

And it's already slowly going bust!

Ten-to-one? Twenty-to-one? No way.

And no one's paying attention.

No one is paying attention!

Because the banks are too busy getting paid obscene fees, to sell these bonds.

But wait. You are the bank.

Well, you work for the bank. I bet your margins are pretty nice and fat.

Let's not talk about my margins, by the way.

Being nice and fat, that's a nice shirt. Do they make it for men?

Aren't you the bank?

I work for the bank. I don't think like a bank.

Big bank, small bank, I like to make money. All right?

Let me put it this way. I'm standing in front of a burning house...

And I'm offering you fire insurance on it.

A's, zero. B's, zero. Double B's, zero. Triple B's, zero.

And then that happens.

What is that?

That's America's housing market.

verification

triple

thousands

thinks

think

these

talking

standing

government

english

bennet

double

defaults

level

default

competition

getting

front

mortgage

mortgages

happens

chance

eight

banks

quantitative

obscene

could

offering

taking

authentic

tranches

credit

right

buying

somewhere

anything

money

chris

specialist

about

along

cologne

called

going

guaranteed

actually

already

attention

bonds

notice

armageddon

basic

blocks

highest

layers

bottom

adjustable

modern

different

racist

simple

burning

house

housing

little

because

lowest

private

insurance

likes

behind

makes

scores

margins

income

opportunity

national

smell

obviously

together

bundled

originals

completely

rates

sorry

china

paying

small

percent

first

pretty

quant

rated

jared

return

risky

twenty

saying

shirt

Start the exercise

The Big Short - Jenga

Report video

Similar video exercises