Go. See. This. Movie.
Okay, sure, it highlights and explains a fair part* of the greed and corruption that led to our economic crisis in 2007/2008. And yes, I wish more people would understand the risk of un(or under)regulated Wall Street.
But it’s also a really great film!
The Big Short patiently (and partially) explains (quite humorously with explanation cameos) how things like credit default swaps work. It tells the story of a few folks who foresaw the mortgage industry’s collapse. And it tells the story well. (I say partially explains because this area is not my forté, and truly, I would need many more focused conversations to begin to understand. But I’m okay with not understanding. I’ll stick to increasing my education in other matters that I need to know. ‘Cause I have a guy. And the smartest thing I can do other than educating myself all things financial is to make sure I have a guy (or gal) I trust.)
That said, one of the comments I make most often about the film is the it was depressing. Those who foresaw the collapse? They did not shout warnings to people who could make a difference. They figured out how to capitalize on that impending doom so they themselves could make millions of dollars. At others’ expense and downfall and demise.
Ah, the American dream.
See, it’s hard to find anyone in the film to really like. Sure, there’s an uncomfortable admiration for someone who could step back, take a broader look, and figure out what was happening. And there is a smugness in seeing the fall of those who thought things would never fail. But still, the millions made by the few did nothing for the rest of everyone—those who lost their jobs. Their homes. Their entire retirement savings.
But a great movie does not require a likable set of characters. It needs a good story. Well told. Well acted. And well directed. It’s that superfecta, in a way.
And the acting here? Why yes, the cast here is another grand ensemble. Christian Bale becomes Michael Burry. He demonstrates smashingly the detached, entitled air of someone with great intellect but limited social skills. (That said, I think I still put Tom Hardy’s Fitzgerald in The Revenant ahead in the Oscar race (even though I wouldn’t be surprised if it went to Stallone in Creed, ’cause, well, ya know.))
Speaking of Oscars, where I’m most torn this year might be adapted screenplay. I hear this film is the frontrunner. I did not read the book. A friend did, and he said the film did right by Lewis’s story. Another friend tried to read it, and she could not get past the complexities of the financial explanations. (Ergo, the film uses those cameos (e.g., Margot Robbie, as herself, sipping champagne in a bubble bath, explaining what happened with subprime mortgages).) But the Oscar isn’t about the dense language in the book; it’s about how the screenplay writer takes that book’s material and puts it on the screen. Okay, so The Big Short might be the favorite. It certainly took information in a book that a whip-smart person I know couldn’t stick with and made it not only accessible but even entertaining. (My pick? I can only say that of the three of the other films nominated in this category that I read (Brooklyn, The Martian, and Room), of those, Room has my vote.)
The movie is certainly worth seeing. I still find The Revenant a deeper, broader, more sweeping film for the Best Picture win. But The Big Short solidly earned its place as another top choice.
*I’ll note that The Big Short is not offered as a documentary. It’s not even a biopic; although almost all of the characters are based on real people, they are fictionalized to a degree. On the other hand, the movie is an adaptation of the nonfiction book of the same name by financial insider, Michael Lewis. That said, though, I’m not saying that subprime lending or the housing market was the only factor in the financial market’s failure. I’m not saying that banks and some fund-manager-types capitalizing on people’s ignorance is the only factor. But factors, those things are. Besides, come on — all of those loans to people with little income, offered with balloon payments that no one could expect them to pay? That’s like finding unqualified people to attend an institute of higher education, getting them to borrow thousands of dollars from the government, with no real expectation of a high probability of using that education, getting a job, or even completing that education. So someone else can get rich. Oh. Wait. Never mind.