If you have not seen the movie The Big Short yet, it is highly suggested you take the time to further understand the economic crisis of the United States which also caused unemployment at a major low point.
The movie has three separate but connected stories of the U.S mortgage housing collapse back in 2005. Michael Burry, played by Christian Bale, is an eccentric medical professional that eventually became a Scion Capital hedge fund manager. This was Bale's character and in the movie he really got into character.
As actors do, characterization is crucial to fulfill the role required and since his character, Michael Burry, doesn't wear the 4,000 dollar suit that most Wall Street professionals do, Bale was actually advised by the banker that inspired his character to trade in the traditional office attire for shorts, bare feet and a Supercuts haircut.
Bale explains that the conversation with him was very specific. For example, there were certain things in the script that Bale had to say for the character but they had to be corrected because he would never say things like that or would say it like that. He also told Bale that he never drinks coffee and would wear nothing else but certain t-shirts for certain reasons. As posted online, he would rather go barefoot in the office but if it was required to wear a suit, he'd wear it with Birkenstocks.
These things were Fedex'd to Christian Bale to help with his characterization. And in the movie, he really nailed it.
This is a twist in professional clothing where the mind is much more valued than the face (or in this case, the suit). However, solid suits are still preferred in the world of business and finance.
If you have not seen the movie yet, the film focuses on three parallel stories where Michael Burry believes that the US housing market is in a bubble that will burst in a few years time, so he decided 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. The banks think that Burry's crazy idea will never happen. Jared Vennett, played by Ryan Gosling, who works with Deutschebank also wants in on the Burry action and proposed the idea to Mark Baum, played by Steve Carrell.
