Hello Everyone,

I just started reading this book called Kaput about Germany economics and in the first chapter this is mentioned:

"services to existing clients was not the main part of WestLB’s international activities. They invested heavily in what appeared to be lucrative investments at the time – sub-prime US mortgages. There are no prizes for guessing how that turned out. In the movie The Big Short there is a famous scene

in which someone makes a reference to stupid bankers in Düsseldorf. These were the guys."

This peaked my interest cause I have watched this movie many times and couldn't recall this.

Does anyone know which scene this happens in?

Couldn't find it in the script easily

https://s3.amazonaws.com/thescriptlab/screenplays/2015/the-big-short.pdf

  • I've read the book as well [and know The Big Short fairly well]. I am also wondering about that scene - it doesn't exist exactly like that, but scene 24 is the Deutsche Bank team partying after taking Burry's swaps - this then piques Jared Vennet's attention (Ryan Goslin's character). It certainly suggests stupidity [and arrogant over-confidence] on the bank's part. I think the author is taking a liberty with this reference, there is no doubt of German bank stupidity (LBWest collapsed over sub-prime losses), but it could have been better stated or referenced .

    I don't think it detracts from the overall message of the book, but it is a irritating false detail nonetheless.

    The scene I mentioned is here: https://www.youtube.com/watch?v=enxLiMNGpkA

    parent

    Also, Vennet is a Deutsche Bank employee, but explains the CDO process that his bank (along with all the others) are doing (Scene 39). There is suggestion of German complicity in the insanity, but no direct reference...and certainly not to Düsseldorf, which was the West LB HQ.

    parent root