大空头

Oh, motherfucker!
迈克尔
Michael?
把我的钱还给我
Give me my money back.
迈克尔 你听到了吗 我要你还钱
Michael, do you hear me? I want my money back.
把我的钱他妈的还给我
Give me my fucking money back…
你这个混♥蛋♥
…you motherfucker.
市场目前正处于一个小低谷中
The market’s in an itsy-bitsy little gully right now.
就像大家说的 “好像有点太疯狂了”
It’s like everybody said, “Okay, that was crazy.”
“那就先冷静一下吧”
“Let’s just all calm down.”
那栋房♥子刚建好那年我把它卖♥♥了35万
I sold that house for $350,000 the year it was built.
两年之后 它值48万
Two years later, $480,000.
一年半之前是58.5万
Then $585,000 maybe 18 months ago.
这对夫妻去年花了65万买♥♥下了它
This couple bought it for $650,000 last year.
看现在的情况 他不得不出手了
He’d let it go for that.
约翰
Hi, John.
不 不用
No, no, no.
虽然非常心疼 但他还是会出手的
It will break his heart, but he’ll let it go.
他为什么要卖♥♥掉房♥子
Why is he selling?
他们夫妻俩现在都没工作
Neither one’s working right now.
玛琳 你是说他们有卖♥♥♥房♥♥的理由是吗
Marlene, you’d say they’re motivated, right?
跟这附近其他人的理由一样充分
As motivated as one can be in this neighborhood.
左边这家 我觉得他们也可能很积极
This house on the left, I would say they’re probably motivated.
天啊 看起来积极卖♥♥♥房♥♥的人不少啊
Wow, a lot of people seem very motivated.
这只是个小低谷
Oh, it’s just the gully.
就这样 没什么
That’s all. Just…
大家只是有点紧张
Just nerves.
那么我们要去看哪一家
So where do we stand?
我还得跟我太太商量商量
I need to talk to my wife. Um…
市场不会一直这样的
This market won’t last.
我能找个房♥贷经纪人谈谈吗
Actually, could I talk to a mortgage broker?
你有认识的还不错的吗
Anybody you recommend? Anybody you like.
当然 我认识几个 绝对没问题
Yes, yes, I have someone. Absolutely.
那个贱♥人♥当然喜欢我了
Yeah, bitch better like me.
因为我她才有钱去卡布度假
Sent her ass to Cabo.
摩根斯坦利是要招募我们吗
So is Morgan Stanley recruiting us? Is that it?
不是的 对冲基金的所有权属于银行
Oh, no. No. The bank owns our hedge fund,
但是我们并不是银行的一部分
but we’re not really part of it.
我们对金融公♥司♥进行投资
We invest in financial service companies
现在想了解一下住房♥贷款业务的情况
and we’re trying to understand the residential mortgage business.
你每个月能做多少笔贷款
How many loans do you write each month?
-大概60笔吧 -没错
– About 60. – Yeah.
四年前的情况呢
What was it four years ago?
10笔吧
Ten…
也可能是15笔
Maybe 15.
我以前只是个酒保 现在我游艇都有了
Yeah, I was a bartender. Now I own a boat.
你有一艘…
You own a…
那这些贷款里面有多少是浮动利率的
So how many of these are adjustable-rate mortgages?
-大部分都是 -是的
– Well, most. – Oh, yeah.
我看90%都是浮动利率
Yeah, I’d say about 90%.
在这种贷款上的提成几年前就飞涨了
The bonuses on those skyrocketed a few years ago.
浮动利率就是我们的金矿
Adjustable’s our bread and honey.
那有申请被拒的情况吗
So do applicants ever get rejected?
你没开玩笑吧
Seriously?
如果有申请被拒了 那我就不称职了
Look, if they get rejected, I suck at my job.
即使他们没钱也没问题
Even if they have no money?
我的公♥司♥提供”忍♥者”贷款
Well, my firm offers NINJA loans.
“没收入 没工作”
“No Income, No Job.”
我把收入那一栏空着就好了
I just leave the income section blank if I want.
公♥司♥不介意这个的
Corporate doesn’t care.
这些人就想有个住的地方 就顺其自然了
These people just want homes. And they go with the flow.
你们真行
Good for you.
你们的公♥司♥不去核实他们的财务状况吗
Your companies don’t verify?
如果我周五下午签下一笔贷款
If I write a loan on Friday afternoon,
周一早上就会有大银行把它买♥♥走
a big bank will buy it by Monday lunch.
是的 我这里也差不多
Yeah. Same here.
能失陪一下吗
Could you hold on a second?
当然
Yeah.
我不明白 他们为什么这么坦白
I don’t get it. Why are they confessing?
他们这不是坦白
They’re not confessing.
他们是在吹牛
They’re bragging.
他们清楚这些贷款的风险吗
Do people have any idea what they are buying?
我的客户主要是移♥民♥ 你懂的
I focus on the immigrants, you know.
只要他们想买♥♥♥房♥♥
Once they find out they’re getting a home,
给什么他们都会签的
they sign where you tell them to sign.
没有疑问 也不理解利率
Don’t ask questions. Don’t understand the rates.
-都是他妈的傻♥逼♥ -没错
– Fucking idiots. – Yeah.
你也主要做移♥民♥的生意吗
And you target immigrants, too?
移♥民♥的信用对他来说还不够糟呢
Well, their credit actually isn’t bad enough for him.
我不是个跟钱过不去的人
Look, I’m a yield guy.
是这样…
Okay…
在一笔固定利率的优质房♥贷上
I make $2,000
我只能赚两千美元
on a fixed-rate prime loan, right?
但在浮动利率的次贷上我能赚一万美元
But I can make $10,000 on a subprime adjustable.
相信我
Trust me,
没有脱衣舞娘我现在也开不上宝马7系了
I’m not driving a 7 Series without strippers.
脱衣舞娘的信用普遍不高 但是现金充足
No one on the pole has good credit and they’re all cash rich.
我记得沃伦·巴菲特也说过这样的话
I think I read Warren Buffett say something like that.
什么 谁是沃伦·巴菲特
What? Who’s Warren Buffett?
你说脱衣舞娘 那种异域舞者吗
Okay, so strippers. Like exotic dancers?
对 对 对
Yeah, yeah, yeah.
一♥丝♥不♥挂♥的那种
Nude, you know, topless.
-一♥丝♥不♥挂♥的脱衣舞娘 -没错
– Strippers. – Yeah.
你能给我们介绍一个吗
Can you introduce us?
当然 没问题
Yes! Yes.
我总是申请选择性还款的浮动利率贷款
I always get option-pay adjustables.
我是个自♥由♥职业者
I’m a private contractor.
不好意思 我听不见你说什么
What? I can’t hear you. I’m sorry.
我总是申请选择性还款的浮动利率贷款
I always get option-pay adjustables.
我是个自♥由♥职业者 需要一些灵活性
I’m a private contractor. I need flexibility.
那你告诉房♥贷公♥司♥你是做什么工作的
And you tell the mortgage company what you do?
我的申请上写的是”治疗师”
I write “Therapist”.
-你可以摸我 -一直这样吗
– You can touch me. – Always?
只有在VIP包房♥才可以
Only in V.I.P.
不是这个 你说你总是选浮动利率贷款
No, no, no, you say you always do adjustables.
你在一套房♥上不止一笔贷款吗
And you have more than one loan on a property?
每个人都这样 至少在这里是这样
Everybody does. At least down here.
不好意思 你说什么
I’m sorry, what?
每个人都这样 至少在这里是这样
Everybody does. At least down here.
这样首♥付♥只要5%
That way you only put down, like, 5%.
现在房♥价跌了你知道吗
Prices have leveled off, though, right?
是啊 只是个低谷
Yeah. There’s a gully.
你可以别晃来晃去吗 我会付你钱的
Would you mind not moving anymore? I’ll still pay you.
对不起 有人看着呢
Sorry. We’re not alone.
听我说 如果房♥价不涨了
Okay, look. If home prices don’t go up,
你就不能重新贷款了
you are not going to be able to refinance.
等到利率优♥惠♥期一过
And you’ll be stuck paying whatever your monthly payment is
你就会陷入高涨的月供
once it jumps up after your teaser rate expires.
月供会涨200%到300%
Your monthlies could go up 200%-300%.
詹姆斯说我总是可以重新贷款的
James says I can always refinance.
他就是个骗子
Well, he’s a liar.
其实 在这种特殊情况下 詹姆斯说错了
Actually, in this particular case, James probably is wrong.
200% 我的所有贷款都这样吗
200 percent? On all my loans?
你的”所有”贷款是什么意思
What do you mean “All” Your loans?
我们说的是一套房♥子上的两笔贷款对吗
We’re talking about two loans on one house, right?
我有五套房♥子
I have five houses.
还有一套公♥寓♥
And a condo.
没错 绝对有泡沫
Hey, there’s a bubble.
你怎么知道的
How do you know?
相信我 给温尼特打电♥话♥
Trust me. Call Vennett,
买♥♥五千万的住房♥抵押贷款支持证券掉期
buy $50 million in swaps on the MBS.
有什么目标 评级BBB的Garibaldi IV