![]() Either way, they’re probably local people that the individual home-buyer would meet in person.īig banks, such as Goldman Sachs and Morgan Stanley, who buy lots of mortgages from lenders. ![]() Mortgage lenders, like a local bank or a mortgage lending specialty shop, who give out mortgages to individuals. regular people who take out mortgages to buy houses for example, you and me! ![]() In order to explain the Big Short, these players–and their roles–are key. Their financial acronyms are hard to keep track of. One of the worst parts about the financial industry is how they use deliberately obtuse language to explain relatively simple ideas. But I promise you’ll leave feeling like you can tranche (that’s a verb, right?!) the whole financial system! Key Playersįirst, I want to introduce the players in the financial crisis, as they might not make sense at first blush. ![]() This post is a little longer than usual–maybe give yourself 20 minutes to sift through it.
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