Sunday 23 October 2016

WATCH: Irish students bring to life what really caused the economic meltdown of 2008 with 'Crash Crash Bang'

Sasha Brady

Published 02/05/2016 | 11:45

Crash Crash Bang. Photo: Phat Meek
Crash Crash Bang. Photo: Phat Meek

A group of Irish students have come together to make sense of the 2008 economic crash with their short film Crash Crash Bang.

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Most people probably hadn’t heard the phrase “mortgage-backed securities” until around 2008, when the subprime-mortgage crisis erupted and sent the global financial system into chaos.

But what exactly happened? That’s the central question of Crash Crash Bang.

It tells the same story as the 2016 Oscar-winning film The Big Short, based on an adaptation of Michael Lewis’s 2010 book.

For those who haven't seen it, The Big Short is about a handful of Wall Streeters who uncovered the underlying problems in the mortgage market and bet against (or shorted) the securities made up of subprime debt before the great economic meltdown in 2008.

The script, narration, shot ideas, and the music found in Crash Crash Bang are original and gives an Irish angle to the crisis.

It was created by a group of students from the UCD Smurfit Business School and director Phat Meek has created a film that's fun to watch but based on themes that are frightening to consider.

It even gives a cheeky nod to The Big Short's famous bubble bath scene with Margot Robbie right at the end.

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