"Everything is as it should be."

                                                                                  - Benjamin Purcell Morris



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The Big Short : A Review, a Diagnosis and a Warning








The Big Short, directed by Adam Mckay and written by McKay and Charles Randolph (based on the book The Big Short by Michael Lewis), is the story of a collection of men who foresaw the financial collapse of 2007/2008 and bet big against the housing bubble and Wall Street and won.

The Big Short is a truly remarkable film, without a doubt one of the very best of the year. It takes the difficult and complex subject of finance in general, and the collapse of 2007/2008 in particular, and not only breaks it down into understandable pieces, but does so in an extremely entertaining and insightful way.

When The Big Short ended and the credits rolled, I was curious as to who directed the film. I was stunned when I saw that Adam McKay, of all people, had directed it. Prior to The Big Short,  Adam McKay was better known as Will Ferrell's director, having been at the helm for the Ferrell films Anchorman: The Legend of Ron Burgundy, Talladega Nights: The Ballad of Ricky Bobby, Stepbrothers, and Anchorman 2 : The Legend Continues. In my mind, directing a singular comedic talent like Will Ferrell amounts to turning on the cameras and getting out of the way. It was previously unthinkable that a director with Adam McKay's resume would have the skill to make a film as impeccably crafted as The Big Short. McKay's direction is nothing short of masterful. McKay is able to flawlessly weave together the multiple, complicated narratives of the film, all while never losing the mesmerizing pace of the story. He shows a tremendously deft touch even with the most minor of scenes and lets the visuals tell as much of the story as the dialogue. 

There is a subtlety and specificity to McKay's direction that speaks volumes to his talent and vision. Two sequences stand out in this respect. The first is when we see a brief daytime long shot of Las Vegas with a freeway in the foreground where a homeless man urinates in the shadows of the traffic. The man, with his shopping cart filled with his possessions by his side, is barely visible in the shot, but that is the point, because those obliviously driving by him on the freeway above are blind to his plight and the one that awaits them as well.

The second shot is of a man and his family, who we meet very briefly earlier in the film, evicted from their rental home because of a landlord who gets foreclosed upon. The family now live in their van parked at a convenience store. This scene, which is visuals accompanied by a voice-over not directly connected to the action, shows a little boy running away from the family van. The shot is maybe three seconds long, but it stops your heart it is so well done. This shot cinematically conveys to the viewer absolutely everything they need to know, and all without a word. It shows how vulnerable and dangerous life is for people on the margins in America. My reaction to that brief shot was visceral…how could it not be? The shot is so quick you can only react to it on a gut level, and at that level, you instantly fear that the little boy will run into traffic. That shot connects the bigger story of The Big Short, to the human story of those devastated by the housing collapse. That little boy is in danger and it is because of the shenanigans of the big banks. These two shots/sequences are the type of small details that make all the difference in a film, and they highlight Adam McKay's exquisite direction of The Big Short.

The acting in the film is solid across the board. Ryan Gosling easily does the best work of his career as Jared Vennett, a bond salesman at Deutsche bank. He gives a funny, dynamic and charismatic performance that is the engine driving the film forward. Steve Carrell does exhaustive work playing the unlikable but ultimately compelling Michael Baum, the manager of a hedge fund whom Vennett approaches to invest against the housing market. Christian Bale gives a layered and intricate performance as Dr. Michael Burry, the eccentrically awkward mastermind who uncovers the fraud at the heart of the housing bubble. Brad Pitt brings a surprising gravity and humanity to the film as former JP Morgan trader Ben Rickert, and acts as a counterbalance to Gosling's fast talking and ego-driven Vennet. The rest of the cast is superb as well, with Hamish Linklater, Rafe Spall, Jeremy Strong, Max Greenfield and Billy Magnussen among others who all do standout work.


I saw The Big Short in the theatre on the same day that I saw Spotlight. This was just by coincidence, but in hindsight it is easy to see that the movies are actually companion pieces. They have a lot in common as both The Big Short and Spotlight are flawlessly crafted films. Both pictures are superbly written, acted, directed, shot and edited. In addition both The Big Short and Spotlight explore similar themes, namely institutional blindness, perverted forms of religion, and the moral and ethical rot at the center of American life. 


The institutional blindness on display in The Big Short runs not only through Wall Street, but also the media and Washington. When you hear talking heads on television say that no one saw the financial collapse of 2007-2008 coming, realize that this is just one more form of that blindness. Hindsight is usually 20/20, but not when you are unable to admit you were catastrophically wrong in the first place. As the great American Prophet (or is it Profit?) Dr. Phil is fond of saying, "you can't change what you don't acknowledge"…you're god-damned right about that, good doctor. Besides the characters at the center of The Big Short, there were other people who saw the collapse coming too, but they were the "wrong" people, so no one listened to them. Hell, even a clueless dope like me saw it coming. Ask my poor clients who had to listen to me ramble on and on about it day after day. Of course, most of those clients, and most of my friends, just nodded politely at my ramblings and ignored them…and lost a ton of money. I, and a very tight circle of friends, ended up being right not because we were geniuses, God and you dear reader know that isn't true, but rather because we weren't infected by the mania brought on by the lure of easy money that had gripped, and still grips, the nation. One of the glaring symptoms of this mania is that it brings with it a greed-induced frenzy that makes it, to paraphrase Orwell, 'hard to see what is right in front of your nose'.

The institutional blindness at the core of American capitalism comes from years of uncritical thinking from the people inside its foundational institutions. No one at any level of the American capitalism food chain, from University economics and finance departments, to the media to government to Wall street, dare question the basic premise of American capitalism because it has become a most-holy, sacred religion. This religion deems insatiable greed not only healthy for the economy, but a "good" and worthy attribute for everyone. This new church of American capitalism found a cinematic saint in Gordon Gekko in Oliver Stone's 1987 film Wall Street, but St. Gordon was just preaching the gospel of the semi-non-fictional Saint Ronald Reagan from the early 1980's. Both St. Gordon and St. Ronnie were followed by free market saint and snake oil salesman extraordinaire, Bill Clinton in the 90's, who cleared the way for "unfettered, free-market capitalism" to take a giant shit on all of us.


Ask anyone with an advanced degree in economics or finance if during their long years of schooling they ever had to take a course on an alternative economic system to capitalism. The answer will be a resounding "no". That is not to say that socialism or communism or any other "ism" is better than American capitalism. But it is to say that when people are taught, or more accurately, conditioned, to NOT think critically about their economic system (or anything else for that matter), then that system stops being an economic one and starts being a religious one. Religion is based on faith and to its faithful adherents, is beyond reproach…see Spotlight as evidence of that. When something as profane as American capitalism becomes sanctified, corruption and collapse are sure to follow, just as it did with Soviet "socialism". With religion comes magical thinking, and so it is with American capitalism, which must contort reality in order to reinforce its faith based belief system. So we get deformed and distorted economic information from the powers that be because they must keep the house of cards standing at all cost. The Big Short humorously shows how while the underlying mortgages crumbled, the mortgage backed securities made up of those same bad mortgages actually went up. That is what happens in religion when reality doesn't conform to the sacred belief system, magical thinking kicks in and…MIRACLES OCCUR…up can become down, black can become white, or as those of us living in reality say…FRAUD HAPPENS. This charade of American capitalism can only last so long, as reality has a funny way of cutting through the bullshit of magical thinking and kicking you right in the nuts…just ask Lehman Brothers or Bear Stearns.


See, in American capitalism, fraud is not a bug, but a feature, it is baked into the cake. Fraud and magical thinking are at the very heart of American capitalism. The fraud that runs rampant is easy to see.  We have all of the big banks rigging bids on municipal bonds and bilking every city in the nation for billions of dollars. Then we have Royal Bank of Scotland, HSBC, JP Morgan Chase, Barclays, Bank of America, UBS and Citigroup and the LIBOR scandal, where they manipulated the world's interest rates and in so doing a good portion of the world's economy. Then there is the fraud on display in The Big Short where big banks defrauded their customers in order to cover their asses as the mortgage market tumbled. This doesn't even touch upon the criminality of banks laundering money for drug cartels, or rate-rigging the currency rates

In all of these scandals, no one was sent to prison. No one was held criminally liable. The Banks simply paid a fine, sometimes in the billions of dollars, but never had to admit to wrong doing. This is the casino-gulag business model, banks make $10 billion in fraud and only pay $1 billion in fines. That is a pretty good deal if you can get it…and the big banks know how to get it.

I had a conversation recently with an older friend, very conservative, who told me that he was "sick and tired of all the big bank bashing" because Wall Street "creates a lot jobs and a lot of wealth". I nodded politely so as to not offend his religious belief in American capitalism. The reality is that Wall Street, like Las Vegas, "creates" nothing, but they do "engineer" more gambling opportunities where the house always wins, and the concept of "the common good" never has to rear its ugly head.


This taps into the moral and ethical rot at the center of America. Wall Street and Main Street, both infected with an insatiable greed, no longer invest, they speculate. The myopic greed and lure of easy money that has infested America makes corporations and regular people cut off their nose to spite their face, all in the name of higher short-term earnings and to the detriment of the long term, the common good and common sense. This is no way to run a company, or a country…but it's what is happening all around us. We have CEO's who mine their company for short term profits, which often times includes profit through fraud, in order to appease shareholders and get their bonuses before moving on, all the while ignoring the long term health of their business. The same is true of government, where politicians ignore the long term health of the country in favor of the short term health of their political careers and the next election. Regular Jane's and Joe's did the same thing by "flipping" houses and trying to run with the wolves on Wall Street…but found out the hard way that it is a rigged game. Now, they do the same thing in a different way by going into debt just to pay their bills month to month. This myopic approach to finance, politics and life, can only last so long before the bill comes due. Robbing Peter to pay Paul only ends up, at best, with either Peter or Paul breaking your thumbs, or at worst, with the two of them burying you in a shallow grave out in the desert.

The Church of American Capitalism and the moral and ethical rot that comes with it, has also infected American Christianity in the form of the "Prosperity Gospel". This Prosperity Gospel is the perfect symbol for the lascivious and lecherous greed, that like a cancer, has metastasized through all walks of American life and bastardized Christianity into little more than Santa Claus for adults. Turning greed into spirituality and religion is the last straw in the fall of the moral underpinnings of any nation and its people. Gordon Gekko once said, "Greed is good", but the Prosperity Gospel of the Church of American Capitalism teaches , "Greed is God".


The other religion, besides the church of American capitalism and greed, so masterfully on display in The Big Short, is the uniquely American religion of Celebrity. Director McKay wisely uses famous people to talk directly to the audience and explain complicated financial terms and processes. This has a dual effect, one, it breaks down the complex language of finance which Wall Street uses to make people think only they can do this stuff, terms like Collateralized Debt Obligations (CDO), Mortgage Backed Security (MBS), and Credit Default Swap (CDS), into language the layman can understand. Two, it surreptitiously tweaks the audience for being so mindless as to only pay attention when a celebrity is talking. The celebrities involved, Margot Robbie, Selena Gomez and chef Anthony Bourdain, all get the point across both on the surface level of explaining the information, but also on the subversive level of proving the audience as suckers for the famous, a.k.a. high priests and priestesses of the Church of American Celebrity. If Collateralized Debt Obligations, Mortgage Backed Securities and Credit Default Swaps were explained by some dry academic, people would, as they've been trained to do, instantly tune out, but when it is done by Margot Robbie in a bubble bath…attention will most surely be paid. 


Speaking of bubble baths…at the end of the movie, there is an update on what the main characters are up to since their big short paid off. We are informed that Dr. Michael Burry, who closed his hedge fund right after the collapse of 2007/08, now focuses his investments on one commodity…water. This is pretty interesting because running throughout the film there is a very subtle subtext about water. If you watch the film again, pay attention when water is in a shot (like Ms. Robbie's bubble bath cameo), what characters drink it and when they drink it. There is one scene where Dr. Burry, while talking about shorting the housing market, chokes on a swig of water from a bottle, which, knowing the context of his later investing work, is very intriguing. Another scene involves a swimming pool with an unwanted reptilian guest lurking in it behind an abandoned Florida house. The house no doubt abandoned because of the "gully" (definition of a "gully" is "a water worn ravine") in the housing market. That scene is juxtaposed with a scene of a lavish swimming pool at Caesar's Palace, which is populated by investment bankers (from Goldman Sachs!!) and a woman from the SEC. Gators, bankers and feds…oh my!!! Water is the hidden secret within The Big Short, and the secret about water in today's world is that it will soon replace oil as the commodity over which we go to war.


In conclusion, The Big Short is a phenomenal, must-see film, that shows us what went catastrophically wrong back in 2007/2008, and what is still wrong with our system. It is up to us to break free from the magical thinking brought on by the Church of American capitalism, and the distraction from thinking brought on by the Church of American Celebrity, and to see the truth that sits right in front of our nose…the American financial system is not only fundamentally and structurally flawed, it is irreparably broken and untenable. The house of cards is coming down whether we are ready for it or not…it isn't a matter of if…it is a matter of when. You can either prepare for the coming tsunami* or not, that is up to you…but what you cannot do this time around...is say that no one told you it was coming. 

*See what I did there? Tsunami…water? C'mon..pay attention!!!


Spotlight : A Review



Spotlight, directed by Tom McCarthy and written by McCarthy and Josh Singer, is the true story of a team of reporters from the Boston Globe's Spotlight team, who investigate and report on child sex abuse by Catholic priests in the Boston Diocese. The film stars Michael Keaton, Mark Ruffalo, Rachel McAdams, Stanley Tucci, John Slattery and Liev Schrieber.

Spotlight is one of the very best films of the year. It is a tense drama, exquisitely acted by a sterling cast, deftly directed and intricately edited. Spotlight is the type of film that seems like it could have been made during cinema's golden age in the 1970's. It feels like a distant cousin of that decades All the President's Men, another story of journalism and hard-driving reporters investigating a scandal deep at the heart of a thought to be untouchable power. Interestingly enough, in Spotlight, John Slattery plays Boston Globe journalist and editor Ben Bradlee Jr., the son of famed Washington Post Executive Editor Ben Bradlee, one of the key players at the Post during their Watergate reporting, who was played by Jason Robards in All the President's Men.

Even though Spotlight is set in the late 1990's and early 2000's, it is really an insightful period piece about the last days of the relevancy of newspapers, and of the dying craft of investigative journalism. The film pays homage to the last generation of journalists who will have had the opportunity to work full-time doing investigative reporting for a newspaper. Corporatism and the internet have devastated the newspaper industry, and Spotlight shows us that industry's last gasp, and what we are missing now that it is, for all intents and purposes, dead.

Spotlight is also about the scourge of institutional blindness and the insidiousness of silence in the face of that blindness. The willful institutional blindness of the church, the press, the courts and law enforcement, and of the people of the city of Boston is on full display in the film. At its heart, Spotlight is really an indictment of the city and the people of Boston. Boston is one of the most parochial places you could ever imagine. For a place filled with legendary institutions of higher learning, it is remarkably narrow-minded and short-sighted. As the film shows us, the suffocating claustrophobia, knee-jerk myopia and the vicious parochialism of Boston created a toxic brew of dysfunction, arrogance and deference in which predatory priests and the Church hierarchy thrived. Only an outsider could break the spell of Boston's willful blindness, and in Spotlight that role is played by Liev Schreiber as Marty Baron, a Jewish editor from Miami who is new to the city and the Globe, and not beholden to the Church. Baron is the one who instigates the Spotlight team into investigating the church and pushes them to dig deeper and reach higher up the hierarchy in their work.

When the story of Spotlight ends, and the indictment of Boston is complete, a very long list of other cities and town scrolls across the screen. These cities and towns are places where other Catholic sex abuse scandals have been uncovered, and the viewer gets the dawning realization that Spotlight isn't an indictment against the city and people of Boston, it is an indictment against all of us, no matter where we live. We are all guilty of the same blindness and cowardice, to one degree or another, on display in Spotlight.

Director Tom McCarthy and his editors do a spectacular job deftly maneuvering the viewer through the morass of the allegations and the cover up at the heart of the film. He keeps a solid and steady dramatic pace, never letting the story lose steam or the viewer lose interest. McCarthy shows a great skill in pacing and tempo throughout the film. Spotlight is littered with detailed little gems which frame and shape each scene and propel the story through the entirety of the film. McCarthy is an actor himself, and his understanding of acting is on full display in Spotlight. He keeps the scenes tight and the actors loose. McCarthy directs the drama to be  vibrant, but never pushes the pace too hard that we lose the subtlety, specificity and humanity at the heart of each of the performances.

The acting on display in the film is exquisite across the board. Even the small, local hires, playing abuse victims and local residents, hit it out of the park. This is a top-notch, professionally acted film from top to bottom. Michael Keaton, Mark Ruffalo, Rachel McAdams and Brian D'arcy James play the Spotlight reporters perfectly. They bring a tangible sense of purpose and vivd detail to their work that drives each scene and ultimately the narrative of the entire film.

It is great to see Michael Keaton follow up his great artistic success in last years Birdman, with his solid work in Spotlight. Keaton is pitch-perfect as Walter "Robby" Robertson, a native son of Boston and well-respected journalist. I hope Keaton continues to make these kinds of choices in the projects that he chooses as he is such an asset to any film where he can bring his skill and experience to bear.

McAdams does the best work of her career as reporter Sacha Pfieffer.  McAdams is as grounded and genuine as she has ever been on screen. She displays a humanity and a compelling internal life that is both steady and captivating.

Mark Ruffalo follows up his terrific work in last years otherwise disappointing Foxcatcher, with a dynamic performance as reporter Michael Rezendes. Ruffalo brings a magnetic power and a tangible wound to the role that is mesmerizing. Ruffalo has been on a roll lately with great work and Spotlight is some of his best.

Both Liev Schreiber and Stanley Tucci have smaller roles but they do spectacular work. Both men are actors of extraordinary craft and talent, and they both bring all of their skills to bear in Spotlight. Without Schrieber and Tucci's multi-dimensional portrayals, the film would have suffered greatly.

Spotlight is the type of superbly crafted film of which I wish Hollywood would make more. Spotlight, The Big Short, which is another great film from this year, and 12 Years a Slave from 2013, all had minuscule budgets around $20 million and all of them at least more than doubled their budgets in profits. Instead of spending $100 or $200 million to make a monstrosity like The Avengers or some action piece of crap, why not take that money and make five or ten Spotlights, or The BIg Shorts or 12 Years a Slave? Those three films combined cost $60 million to make and have grossed $363 million. With moderate budgets like that, there is less risk and higher reward, as opposed to a $200 million film, which will nearly double its budget on marketing and then need to make a billion dollars just to be considered a success. Spotlight shows that good and great films can be made relatively inexpensively using just the skill, craft and talent of the people involved. I wish for all of our sakes that Hollywood would learn that lesson, but I have a sneaking suspicion that they won't. Regardless of the state of the film industry, Spotlight is proof that there are still artists out there capable of making high quality, smart films. 

In conclusion, Spotlight is one of my favorite films of the year. It teaches us hard lessons about our own cultural blindness and the price that the most vulnerable among us pay for it. It also shows us a time not long ago, when the press could, on its better days, hold those in power accountable. Those days are long gone, and Spotlight reveals to us that our culture is lesser for the loss of true investigative journalism. Spotlight is well worth your time, money and effort to go see it in the theaters. I strongly encourage you to do so. 





(This section is written by my lifelong friend and our resident conspiracist, Prof. Rev. Dr. Steve Keithans a.k.a The Mayor of Westfield. The good Professor Reverend Doctor Keithans views may or may not be the same as my own, but regardless, I am happy to share them here with you now.)

The strangest thing…when speaking with my good brother Michael McCaffrey about the film Spotlight, one of the great elements that we both noticed about the film was how fantastically well paced it is. But to my eyes there was one small hiccup which stuck out to me like a sore thumb. Films have a visual style, rhythm and pace to them. Shots are consistently framed and lit in a certain style and held for a certain length creating an unconscious rhythm for the viewer of a film. Each shot informs the shot that follows it and is informed by the one that preceded it. Spotlight quickly establishes its visual rhythm and sticks with it through the entire film…except for one…single...shot.

The shot in question takes place at exactly 1 hour 23 minutes and 22 seconds of the film. The shot is of the Boston Globe parking lot as editor Mark Baron (Liev Schreiber) arrives to the office. It is a wide shot, one which we have not seen yet, nor will we see it again. We have seen this same parking lot before but only in close ups and two shots of the actors in their cars. In this shot, from a high angle wide shot, we see Baron pull his car in to the parking lot. Looming over the parking lot, and dominating the shot, is a big "AOL Anywhere" billboard and the background is the skyline of Boston. Here is a screen capture of the shot.

It is an odd shot in the context of the visual style and rhythm of the film and it is jarring to the unconscious of the viewer because it breaks that rhythm. It is pretty striking that the one shot that is out of rhythm with the entire film is that of an AOL Anywhere billboard which happens to have a giant pyramid with an all seeing eye in it. What makes the shot all the more jarring is the context of where it shows up in the film. The scene directly following this shot shows Mark Baron entering the Boston Globe office, in the foreground a group of people are gathered around a television watching breaking news. The breaking news is the 9-11 attack. Baron stops in front of the television long enough to see a jumbo jet crash into the World Trade Center. 

When I first saw the film I felt uneasy with the parking lot shot, but didn't really give it much thought. The sensation was one of slight discomfort, something just seemed off, nothing more. It was more subconscious than anything and it barely registered in my conscious mind except to say…"hmmm…that feels…off".

Upon my second viewing of the film, I was more consciously jarred by the visual anomaly, and I wondered if this was just a very unsubtle case of AOL product placement.  

Then I thought, well, maybe the director is trying to symbolically say that newspapers in general, and the Boston Globe in particular, don't know what is coming at them, the black swan theory if you will…that they are blind to their own on-coming demise in the form of AOL (the internet), much like the U.S. was blind to the 9-11 attacks. 

Then I wondered if maybe this shot has a deeper meaning that the director was not even conscious of, or maybe he was…who knows, right? Maybe the all seeing eye highlighted in that shot is symbolic of one of the shadowy "secret societies" that are known to use child sex abuse rituals when they practice their dark art. Or maybe it is symbolic of the all seeing eye of "the powers that be" in the military-intelligence-surveillance industrial complex who were either complicit or entirely behind the 9-11 attacks in order to increase their power and control by creating a "new Pearl Harbor". Or maybe those two groups, the child sex abuse ritual people, and the military-intelligence-surveillience industrial complex people are cross pollinated and are actually one in the same and this shot shows us a brief glimpse of their vast power and control…the billboard does say "AOL Everywhere" after all.

Then I wondered if maybe this shot was a secret warning from an insider of one of these groups, alerting anyone with the eyes to see that this nefarious, shadowy group was behind both the sex abuse in the Catholic church, and 9-11 and most everything we see in the media (once again…"Everywhere"). And then I wondered if this shot was indicating that another 9-11 was coming, this time aimed at Boston.

And then I wondered why my head hurt so much, and then I realized that my tinfoil hat was on way too tight. Sadly, after I removed the tinfoil hat from my head, the aching still remained…and even more unsettlingly, so did the anomaly of that shot and the all seeing eye in the pyramid looming over the city of Boston, and glaring right at me…and seeing right through me…knowing and controlling…"EVERYTHING".