(1) After watching The Big Short, do you have a clearer understanding of the Wall Street collapse of 2008? Does this movie do a good job, or a poor one, of explaining the arcane financial devices and the ins and outs of the bond markets?

(2) Why did a handful of outsiders foresee what would happen with the subprime mortgages and the bonds that were created from these loans, while neither the heads of the large financial firms nor government regulators saw what was coming? Do you think it was genuine ignorance (the derivatives were simply too obscure to understand) or willful ignorance (no one really wanted to turn off the money faucet)? What about the risk managers for the Wall Street firmswhere were they in all of this?