Too Big to Fail - The great crisis

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Movie
German title Too Big to Fail -
The great crisis
Original title Too big to fail
Country of production United States
original language English
Publishing year 2011
length 99 minutes
Age rating FSK 0
Rod
Director Curtis Hanson
script Peter Gould
production Ezra Sverdlov
music Marcelo Zarvos
camera Kramer Morgenthau
cut Plummy Tucker
Barbara Tulliver
occupation

Too Big to Fail - The great crisis (AKA: Too Big to Fail, to German : Too big to fail ) is an American film drama from the year 2011 based on the bestselling novel by Andrew Ross Sorkin's The infallible: As bankers and politicians to the Lehman bankruptcy struggled to save the financial system - and themselves ( Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System - and Themselves ) from 2009. Like the book, the film focuses on the financial crisis from 2007 and their key figures and their modes of action. The eponymous film title stands for the systemic relevance of companies in the financial system, where bankruptcy cannot be accepted due to its economic role.

On May 23, 2011, Too Big to Fail was released as a television film on pay TV channel HBO in the United States. In Germany, the publication was presented on May 28 of the same year during the Festival of the Great Television .

action

The focus of the plot are the actions of the US Treasury Secretary Henry Paulson from August to October 2008. The global economic crisis caused by a real estate bubble in 2007 begins to increasingly affect US financial companies in 2008.

Dick Fuld , CEO of Lehman Brothers , is looking for donors to cushion his investment bank's losses . But investors are cautious, as Lehman previously offered high-risk (so-called "toxic") securities and the US Treasury Department is against another bailout that previously had to rescue Bear Stearns with government support.

The bankruptcy of Lehman does not seem to be averted any longer and so Paulson proposes a private-sector solution in which the US credit institution Bank of America and the British financial company Barclays are interested in Lehman's "good" securities. The five companies JPMorgan Chase , Goldman Sachs , Morgan Stanley , Merrill Lynch and Citigroup are to take over Lehman's risk shares in return, to prevent the Invsolvenz. However, Bank of America withdraws from the Lehman takeover and instead takes over Merrill Lynch, which had previously been offered for sale. Although the four remaining companies agree to take over the Lehman shares, UK banking regulators prevent the takeover by Barclays, causing Lehman Brothers to file for bankruptcy on September 15, 2008.

Meanwhile, another crisis looms when it becomes known that the global insurance company AIG is making billions of dollars in losses. Meanwhile, Lehman customers no longer have access to their capital, which means that investors in other investment banks are withdrawing their capital and share prices plummet. Paulson is meanwhile exposed to serious accusations that he did not prevent the Lehman bankruptcy, as many international markets and large corporations are hanging on the drip of Wall Street . Finally, the Treasury is trying to negotiate the rescue of AIG via the US Federal Reserve in order to prevent the financial market from collapsing. The central bank chairman Ben Bernanke prevents this, however, and refers to the lack of a legal basis, which must first be created by the Congress .

Paulson and his team then draft the “ Troubled Asset Relief Program ” (TARP), which envisages buying up the banks' risk papers in order to increase their liquidity again. However, Timothy Geithner , President of the New York Federal Reserve Bank , realizes that there is not time to wait for Congress to decide. In coordination with Paulson, Geithner tries to bring about mergers between various investment and commercial banks, which would then be even more powerful, but then under the control of the US Federal Reserve.

Paulson's bill seems a done deal, but when Republican senator and presidential candidate John McCain suspends his campaign to join the negotiations, the majority in Congress tips over and the bill is rejected. After a revision of the law, which now provides for a direct capital injection by the Treasury Department for the banks, and pressure from US President George W. Bush , the law will be passed in a second vote by Congress.

Paulson advises the banks of the proposed capital injection under the TARP Act, which will grant the Treasury Department of the Treasury preferred stock and allow the banks to use the money for lending to help stabilize the market. Although not all of them need the money, the importance and scope of this measure is explained to them, and some reluctantly accept the aid. No further conditions for the use of the money are made so that the banks do not reject it. This dictation of the banks is in the end sharply criticized by Paulson's press secretary Michele Davis. Paulson and his team hope, however, that the banks will use the money in their favor.

In the credits it can be read that the banks granted fewer loans as a result of the Troubled Asset Relief Program and that the stock markets continued to fall. The US unemployment rate also rose to over 10 percent and millions of families lost their homes to foreclosures. Eventually the markets stabilized in 2009 and a global depression was averted. The largest banks paid back the money they received from TARP. However, 10 banks now have 77 percent of US bank assets and are now "too big to go under" (see systemic importance ).

Awards and nominations

2011

  • 2011 Primetime Emmy Awards
    • Nomination: “Outstanding Lead Actor in a Miniseries or Movie” for William Hurt
    • Nomination: “Outstanding Supporting Actor in a Miniseries or Movie” for Paul Giamatti
    • Nomination: "Outstanding Supporting Actor in a Miniseries or Movie" for James Woods
    • Nomination: “Outstanding Sound Mixing for a Miniseries or a Movie” for James Sabat , Chris Jenkins and Bob Beemer
    • Nomination: “Outstanding Single-Camera Picture Editing for a Miniseries or a Movie” for Plummy Tucker and Barbara Tulliver
    • Nomination: "Outstanding Main Title Design" for Michael Riley , Bob Swensen , Adam Bluming and Cory Shaw
    • Nomination: “Outstanding Directing for a Miniseries, Movie or a Dramatic Special” for Curtis Hanson
    • Nomination: “Outstanding Cinematography for a Miniseries or Movie” for Kramer Morgenthau
    • Nomination: “Outstanding Casting for a Miniseries, Movie or a Special” for Alexa L. Fogel and Christine Kromer
    • Nomination: “Outstanding Writing for a Miniseries, Movie or a Dramatic Special” for Peter Gould
    • Nomination: “Outstanding Miniseries or Movie” for Curtis Hanson, Paula Weinstein , Jeffrey Levine , Carol Fenelon and Ezra Swerdlow
  • Satellite Awards 2011
    • Nomination: "Best Miniseries or Motion Picture Made for Television" for Too Big to Fail
    • Nomination: "Best Actor in a Supporting Role in a Series, Mini-Series or Motion Picture Made for Television" for James Woods
    • Nomination: "Best Actor in a Miniseries or a Motion Picture Made for Television" for William Hurt
  • OFTA Television Awards 2011
    • Award: “Best Supporting Actor in a Motion Picture or Miniseries” for Paul Giamatti
    • Nomination: "Best Actor in a Motion Picture or Miniseries" for William Hurt
  • Casting Society of America 2011
    • Nomination: “Outstanding Achievement in Casting - Television Movie / Mini Series” for Alexa L. Fogel and Christine Kromer

2012

  • Golden Globe Awards 2012
    • Nomination: "Best Mini-Series or Motion Picture Made for Television" for Too Big to Fail
    • Nomination: "Best Performance by an Actor in a Mini-Series or a Motion Picture Made for Television" for William Hurt
    • Nomination: "Best Performance by an Actor in a Supporting Role in a Series, Mini-Series or Motion Picture Made for Television" for Paul Giamatti
  • Screen Actors Guild Awards 2012
    • Award: “Outstanding Performance by a Male Actor in a Television Movie or Miniseries” for Paul Giamatti
    • Nomination: "Outstanding Performance by a Male Actor in a Television Movie or Miniseries" for James Woods

Release history

region date title source
BrazilBrazil Brazil no information Grande Demais para Quebrar
GermanyGermany Germany May 28, 2011 Too Big to Fail - The great crisis
FinlandFinland Finland June 27, 2012 Talousmahti murtuu
FranceFrance France September 6, 2011 Too big to fail
ItalyItaly Italy November 4, 2011 Too Big to Fail - Il crollo dei giganti
CanadaCanada Canada (French) no information Débâcle à Wall Street
NetherlandsNetherlands Netherlands February 10, 2012 Too big to fail
PolandPoland Poland April 14, 2013 Zbyt wielcy, by upasc
PortugalPortugal Portugal no information Demasiado Grande Para Falhar
RussiaRussia Russia no information Слишком крут для неудачи
SwedenSweden Sweden June 27, 2012 The ekonomiska stormaktens kris
SpainSpain Spain August 24, 2011 Malas noticias
HungaryHungary Hungary September 24, 2011 Válság a Wall Streeten
United StatesUnited States United States May 23, 2011 Too big to fail

See also

Web links

Individual evidence

  1. ↑ Too Big to Fail - The Great Crisis. Moviepilot , accessed June 27, 2015 .
  2. ↑ a b c Too Big to Fail - The Great Crisis (TV Movie 2011) - Release Info. Internet Movie Database, accessed June 27, 2015 .