Charlie Geller and Jamie Shipley, who are minor players in a $30 million start-up garage company called Brownfield, get a hold of Vennett's prospectus on the matter. In addition to Burry's information, they further believe that most of the mortgages are overrated by the bond agencies, with the banks collating all the sub-prime mortgages under AAA packages. Baum and his associates, who work at an arms length under Morgan Stanley, decide to join forces with Vennett despite not totally trusting him. An errant telephone call to FrontPoint Partners gets this information into the hands of Mark Baum, an idealist who is fed up with the corruption in the financial industry. Jared Vennett with Deutschebank gets wind of what Burry is doing and, as an investor believes he too can cash in on Burry's beliefs. The banks believe that Burry is a crackpot and therefore are confident in that they will win the deal. Autonomy within the company allows Burry to do largely as he pleases, so Burry proceeds to bet against the housing market with the banks, who are more than happy to accept his proposal for something that has never happened in American history. He believes that the US housing market is built on a bubble that will burst within the next few years. Michael Burry, an eccentric ex-physician turned one-eyed Scion Capital hedge fund manager, has traded traditional office attire for shorts, bare feet and a Supercuts haircut. Three separate but parallel stories of the U.S mortgage housing crisis of 2005 are told.
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