Showing posts with label Great Recession. Show all posts
Showing posts with label Great Recession. Show all posts

Wednesday, April 13, 2016

Movie Review: "99 Homes"


99 Homes (2015)


R

4 Stars out of 5

Director/Editor                   Ramin Bahrani
Writer                                   Ramin Bahrani, Amir Naderi, Bahareh Azimi
Cinematography                Bobby Bukowski
Music                                   Antony Partos, Matteo Zingales

Rick Carver                          Michael Shannon
Andrew Garfield                 Dennis Nash
Noah Lomax                       Connor Nash
Laura Dern                          Lynn Nash
Tim Guinee                         Frank Greene

 

The 2008 housing bubble collapse in the United States is beginning to prove to be ample fodder for film makers (e.g. see 2015 Oscar Best Movie nominee “The Big Short”). Movies like “The Big Short” have focused on the malfeasance and fraud perpetuated by Wall Street bankers. Ramin Bahrani has chosen in his 2015 offering, “99 Homes” to cast a double focus: on a system that favors local banks and to a lesser degree on the people thrown out of their homes by those same local banks. To his credit, Bahrani has added a Mephistophelean deal in his story as he frames the overall arc of the film about the decisions made by one man recently evicted with his son and widowed mother from their Orlando home.  Temporarily homeless and unemployed, his belongings sitting on a street curb, he makes a fateful decision to work for the “Devil”; the same man that had just evicted him.

Dennis Nash (Andrew Garfield) opens the movie in a well-crafted courtroom scene. Nash has roughly 60 seconds to convince a judge to issue a stay on his eviction. The Judge (Richard Holden) is exasperated and highly overworked as he tries to quickly move through hundreds of cases just like Nash’s. The Judge checks the paperwork for accuracy and “sentences” Nash to eviction. Nash tries to argue but there is no winning argument for him in this scenario; he ends up being evicted from the courtroom as well. Nash will return home to his mother, Lynn (Laura Dern) and son, Connor (Noah Lomax). The mother is a home-based hair stylist and seems utterly uncomprehending of their pending fate. The son being only 9 is equally in a daze. Nash as the responsible party in this small family desperately searches through his legal papers. He remains convinced that there is hope; he hangs all his hopes on the Judge’s comment that he has 30 days to file an appeal. The Nash family consequently and understandably believes they have 30 days more in their home.

They don’t. The next day, real agent Rick Carver (Michael Shannon) shows up with two Sheriff Deputies and a work crew to evict the Nashs and to place all of their property on the curb in front of the house they still think is their home. The scene of their eviction, their incomprehension, their assertion of their property rights to the deputies and Carver is heartrending. (Indeed, during this scene and several others of high tension Music Directors Antony Partos and Matteo Zingales have written a score that emphasizes the frantic beating of a human heart.) The Nashs stand in the street amongst their furnishings with a mixture of despair and loss that Director Bahrani wants the viewer to feel as well as view. He will contrast this view with a later scene with Rick Carver at one of his two opulent mansions: one with a presumed wife, the other with an apparent mistress. The contrast between the wealthy, their greed and lack of empathy versus the blue collar family forced into a hotel filled with other evicted families just like theirs is intentional and is one of the highlights of the film. The Nash’s eviction is one that will be repeated several times throughout the movie, sometimes with elderly homeowners, sometimes with African-Americans, sometimes with families that are not only like the Nashs but are in fact neighbors and friends.

The best aspect of the movie though is the alluded to deal made by the evicted Nash. He goes to see Carver after his eviction in a vain search for tools the thinks Carver’s eviction team stole while evicting Nash. Because of Nash’s bravado and tenacity in seeking his tools, Carver sees something in Nash that he believes will be of value to Carver as he continues his “real estate” business based on eviction. Carver will make the point very clear what kind of real estate business he is in as he later rationalizes his actions to Nash in an attempt to convince Nash to come work for him. Besides stating on multiple occasions that Nash should not become emotionally attached to houses (they are after all, just boxes, and one is just like the next), Carver will make his most telling point when he tells Nash that he was once a loser that made his living as a real estate agent putting people into homes, but now he is a winner as he evicts people from their homes, and he becomes the new owner in the process. Venality and greed could not be made plainer. Just like the courtroom scene that emphasized that there is no hope for the soon-to-be evicted in the law, or by the two deputies sent to carry out the eviction and who refer to Carver as “Boss”, there is no hope anywhere for those caught in the situation of having falling behind on their loans, for whatever reason. To be sure, some blame must be placed on the homeowner, but this movie makes it quite clear there is plenty of blame to be shared by the state, the banks, and by the various investor/leeches that move in to take advantage of a system designed not to protect the homeowner, but rather is in fact designed to protect the bank. Those without power and wealth will inevitably lose, while those with the influence their money can buy will as always come out the winners.

This movie is at its strongest when it gives free rein to Michael Shannon and his portrayal of a modern demon. Just like other fallen demons, Rick Carver once tried to make it as an honest and moral being. However, refusing to follow his roofer father into poverty, Carver (it’s hard to ignore the choice of names here) slashes his way through neighborhoods looking for those on the edge of eviction. Of course, once he heads down this path, Carver finds it easier and easier to not just bend the rules but to actually break them: he has his new man Nash remove A/C units from empty homes so he can charge the government to replace them, he forges documents in order to facilitate evictions and writes his actions off as merely “correcting” a filing error, he blithely ignores the pain and suffering he is adding to the world. He reminds me of the Jacob Marley character in Dickens’ “A Christmas Carol”, as he slowly adds link to link in an already long chain of misery attached to him. However, as miserable an example of human behavior the Carver character is, Andrew Garfield’s portrayal of the conflicted Nash is an even more interesting character. To some degree like Carver before him, Nash slowly converts from evicted and outraged man of conscience to petty Carver minion to active evictor to eventually his breaking point. Near the movie’s climax, the Nash character must make a decision to help in the eviction of neighbor and friend Frank Greene (Tim Guinee). He clearly is torn as he must decide to violate one of the last few strands of his moral code, if not in fact the law as well. He makes a fateful decision, the consequences, the movie leaves to some degree ambiguous.

This movie has very good acting from Shannon and Garfield; in fact, it is worth watching for Shannon’s performance alone. The directing is very effective along with the editing and sound track in creating a taut movie, filled with a sense of doom and despair. The anger and incomprehension of the evicted shows some of the best aspects of the writing and directing. There is some weakness in the writing in terms of creating back stories for the evicted that have little more than set piece appearances in the movie. But even in the case of Carver and Nash, their back stories are only poorly described. A consequence of this is that it is hard to relate to either character as people; it is far easier and is perhaps Bahrani’s intention that we relate to them only as stereotypes; in the case of Carver and Nash, as the Devil and Faust, respectively. That being said, this is a first rate movie that is clearly felt most strongly by the writer/director as a statement about the powerlessness of the common man in the face of remorseless greed that comes from banks, speculators, and even from at least one of their own. The movie is worth seeing as an examination of how the evicted are treated as well as to enjoy the acting of Shannon and Garfield.

Thursday, March 31, 2016

Movie Review: "The Big Short"


The Big Short (2015); Best Movie Oscar nominee

R

4 Stars out of 5
Director                                Adam McKay (Oscar nominee)
Writer                                   Charles Randolph, Adam McKay, (Oscar Winner, Best Adapted Screenplay)
Book                                      Michael Lewis – “The Big Short – Inside the Doomsday Machine” (2010)
Editor                                    Hank Corwin (Oscar nominee)
Music                                    Nicholas Britell 

Ryan Gosling                       Jared Vennett
Christian Bale                      Michael Burry, M.D. (Oscar nominee for Supporting Actor)
Steve Carrell                       Mark Baum
John Magaro                       Charlie Geller
Finn Wittrock                      Jamie Shipley
Cameos                                Anthony Bourdain, Selena Gomez, Margot Robbie

 

What would be the proper tone for a movie that explored the 2007/2008 market collapse in the United States? Would it be comical, fast paced, satirical, and salted with celebrities explaining the various arcane terms of credit default swap or collateralized debt obligations (CDOs)? I would not have made these choices, but in fact this was exactly the tone intentionally chosen by writer Charles Randolph and writer/director Adam McKay in 2015’s “The Big Short”. This movie is particularly fast-paced and filled with people speaking a language that sounds like English as they attempt to explore the fraud and incompetence displayed by a variety of large banking institutions in the first decade of the new millennium. The writing, editing and acting are superb though some of the choices in music and the use of cameos quite frankly detract rather than add to this film. And, I wonder how many viewers will walk away from this movie with a better understanding of what was done by the bankers vs. simply an uneasy feeling that the crooks involved got away with it, and have virtually nothing in their way from doing it all over again.

“The Big Short” focuses on three story lines that somewhat, kind a reach the same end point – and it’s not really the end point any of the three groups thought or hoped it would be. The story begins with Dr. Michael Burry (Christiane Bale) , a former neurologist now Hedge Fund manager that seems to suffer from Asperger-like symptoms. His social skills may be problematic but not his intellect. By dint of his intuition and hard work he finds evidence that the real estate bond market, thought to be extremely safe is anything but. Evidently, it is necessary to fill these bonds with a large number of mortgages. If said mortgages are 30 year mortgages made out to fully-employed workers that have been properly vetted for their loans, no problem. If on the other hand the bond is filled with people not vetted properly or perhaps not at all, and if they hold multiple loans, variable rate loans, then Burry rightly deduces a disaster is on the way. He makes the decision to persuade several banks to create a financial instrument that from one point of view is a form of insurance on the bonds, and from Burry’s point view allows him to “short” the real estate bonds in question. That is to say, he pays a monthly premium that allows him to “bet” the value of those bonds will drop once a certain percentage of the mortgage holders default on their home loans. And Burry’s data says this will happened in the 2Q07; that is about two quarters away in time from his decision to short the bond market.

One of the amazing aspects of Burry’s plan is that his contact with the banks to set up the short is overheard by another banker, Jared Vennett (Ryan Gosling). Vennett’s own research and experience at his bank tell him quite quickly that Burry is right. Vennett then goes about trying to sell the short financial tool to other investors; all turn him down except for another Hedge Fund manager, Mark Baum (Steve Carrell). Baum is a man beset with anxiety at the greed and disregard of Wall Street – even though he works there, too. Baum’s team starts to buy up as much of Vennett’s product as they can afford. And lastly, a pair of naïfs, Charlie Geller (John Magaro) and Jamie Shipley (Finn Wittrock) find out about Vennett’s plan and decide with the help of an experienced and connected trader, Ben Rickert (Brad Pitt) to start their own run at shorting the real estate bond market.

Where this movie sets itself apart from other tales from Wall Street (e.g. “Wolf of Wall Street”, 2013) is that there is no glorification of these traders, there are no heroes in this tale, and no drunken or drug-induced frenzies. Instead, we have a cast of capable people, each with at least a residue of conscience left that are faced with the apparent fact that Wall Street is run by extremely venal and in some cases, completely clueless parasites. Some of the members of the three groups that short the banks are shown to be concerned from the beginning (Baum and Rickert) with the awful system they work in or they get there by the movie’s end (Baum is even more discouraged, Burry closes his fund, and young Charlie moves to a farm). Yes there is comedy and satire in this movie, but mostly there is just a sense of disgust and a feeling that the wealth Wall Street commands, and their reach into congress as a result of that wealth will prevent any meaningful legislation ever being passed, let alone enforced. Consider the movie’s closing comments: only one banker was imprisoned, and Wall Street has since introduced a clone of the CDOs that got the country (indeed the whole world) into the problems of the Great Recession of 2008 in the first place. History will surely repeat itself.

As a movie, this one excels primarily with the acting, directing and editing. The director and his editor do an incredible job of creating a tone and pace that propels this movie forward at a pace that is at times frantic, but not to the degree that the viewer is totally lost. The Oscar award notwithstanding, the writing upon which this movie is anchored has problems in my opinion: the inclusion of the celebrity cameos is pointless and detracts from the narrative flow. There seems little purpose in having a soap opera star (Margot Robbie) sit in a bubble-filled bath tub defining financial terms to the masses. I get it is intended to create an atmosphere of arrogance and superiority, but it really feels more like a derailment from the story-line. It is true that telling this story without a careful explanation of the financial terms in play would also detract from the film, but the Robbie cameo was a mistake in my opinion. The use of Selena Gomez placing a bet in a casino as she explains what CDOs are, worked much better – her explanation about the CDO style of gambling placed in the context of her losing at Blackjack was a great metaphor and did not deviate much from the tone or pace of the overall movie.

But the acting, this is where I think the movie has its best moments. Christian Bale’s performance of the one-eyed and smartest man in the room, who is also a likely Asperger’s patient, is a brilliant idea. Here is a man who has lived his life minus an eye, has struggled with his social interactions, and yet is the only one in the room that truly sees the problem that the CDOs were. He plays his character as a man living on the edge of main stream society pounding on his drums as he listens to some heavy metal music that only he can hear. Again, the metaphors are as clear as possible. My big objection to the musical choice though is that Music Director Nicholas Britell would have benefitted the movie immensely had he decided to use Led Zepplin throughout the movie rather than just as a closing number. The raucous, heart-pounding effect would have been the same, but the music far better written, performed, and recognizable to the audience. Lastly, the acting of Steve Carrell just gets better and better. His performance of the guilt-wracked Mark Baum as he works through the suicide of his brother and the same time tries to fix every wrong in the world (no doubt as he tries to salve his sense of guilt over the loss of his brother) is in fact better than his Oscar nominated performance in 2014 of John DuPont in “Foxcatcher”. He is able to capture with great subtlety a range of emotions a Mark Baum, most notably his closing sense of futility – surely the best emotion for anyone watching this movie and thinking about how Wall Street (and the corporations) run things from behind the curtains.

In any event, this is a good movie. I do not think I would have nominated it for Best Picture, but I strongly agree with the director, editing and acting nominations – they are well deserved.  This movie tells a complicated tale about greed and financial control that I think every thinking American needs to ponder. It uses a comedic tone that I find more annoying than entertaining; certainly it detracts from the message in my view. But then how does one tell a story about the dismal science (i.e. economics) without putting the audience to sleep. Maybe this was the perfect tone; it was a perfect pace and some near perfect acting. I recommend this movie, but I think with some reservations.