The Big Short Ethical Reflection

The film The Big Short sheds light on the moral and ethical dilemmas that can arise in finance. The film tells the story of the devastating 2008 Financial crisis and the housing bubble burst by highlighting the few individuals who predicted it and profited from the devastation of the housing market. The film demonstrates how greed, deception, and lack of accountability led to the downfall of millions of people’s lives yet also made a select few millionaires.

A central theme of the movie is the balance between the motive of profit and moral and ethical concerns. The characters in the film are driven by the desire to make a profit, and their actions are motivated by self-interest. However, in some instances, such as when they leave the casino, they recognize the moral implications of their actions and begin to become conflicted about the profits they will be making on the misfortunes of others.

The film holds a mirror up, reflecting the evidence that the financial system is built on the foundation of greed and the overwhelming pursuit of the almighty dollar, the only force driving the actions of those in power. The film displays how positions of authority and influence can be utterly blinded by their self-interest, allowing unethical and immoral practices to occur and prosper as they go unchecked.

The 2008 financial crisis caused millions of people to lose their homes, jobs, and savings while others profited from their misfortune. The movie highlights this stark contradiction between the fortunes of the few and the dire struggles of the many, causing us to raise questions in our heads concerning the fairness of the system.

The lack of accountability in the financial system leads to catastrophic consequences. The film illuminates the thousands of players involved in allowing the crisis to occur due to their negligence, then highlights that nobody was ever held accountable for their actions. The financial institutions responsible for the financial crash, who were too big to fail, were ultimately bailed out by the government at the expense of the US taxpayer. The movie highlights the glaring flaws in our banking system and the need for greater accountability and regulation that lobbyists cannot sway.

Furthermore, FTX was a cryptocurrency trading platform founded by Sam Bankman-Fried. Over the recent year, the company and Sam have been accused of fraud, resulting in the loss of hundreds of millions of dollars for its users. The accusations include market manipulation, insider trading, and using fraudulent bots to inflate trading volumes artificially. The FTX scandal rides the line directly next to the events in the financial crisis of 2008 in several ways:

1. The fraud occurred due to unchecked greed and a lack of accountability in the financial system. Bankman-Fried and his FTX team were more than willing to engage in fraudulent practices to maximize profits.

2. Bankman-Fried was at one point worth billions, while the users of his product which he swindled, suffered devastating losses to their portfolios.

3. The FTX scandal again sheds light on the importance and the reminder that a lack of regulation and oversight in financial industries makes it incredibly easy for bad eggs to engage in fraud and get away with it.

In conclusion, The Big Short is a powerful movie highlighting the moral and ethical dilemmas that can arise when profit is allowed to dictate the actions of the people in power. The film works to expose flaws in our system and raise important questions regarding profit and morality. These lessons can be expanded to the financial sector, and all industries where pursuing profit comes before moral considerations. Society must ensure that the system we rely on is fair and accountable and that profit does not outweigh the well-being of others.