The housing market crash of 2008 was no joke, which is why it might come as somewhat of a surprise that “The Big Short” is directed by the same man responsible for goofball comedies like “Anchorman,” “Step Brothers” and “Talladega Nights.” Though Adam McKay isn’t the first person you’d think of to direct a (mostly) serious movie about the worst economic crisis since the Great Depression, he’s clearly passionate about the material – both the real-life events and the book on which the film is based – because it shows in the final product. “The Big Short” isn’t quite as hard-hitting as J.C. Chandor’s “Margin Call,” the underseen 2011 drama that offers a different perspective of the same events, but it’s a nonetheless effective examination of a nationwide disaster so ridiculous that it’s difficult not to laugh.
Adapted from “Moneyball” author Michael Lewis’ bestselling book of the same name, “The Big Short” follows a group of investment bankers through the years 2005-2008 as they predicted what many thought was impossible – the always-sturdy housing market collapsing – and then did the unthinkable by betting against (or shorting) the big banks to profit off their greed. The first to make his move is financial guru Dr. Michael Burry (Christian Bale), a socially awkward hedge fund manager who discovers a worrying pattern in defaulted subprime mortgages (which make up the mortgage bonds that the banks trade on) and invests more than a billion dollars of his investors’ money into credit default swaps, i.e. insurance against the failure of those bonds, which didn’t even exist at the time.
Everyone on Wall Street thinks he’s crazy, except for hotshot Jared Vennett (Ryan Gosling), who sees a potential gold mine in Burry’s theory and convinces short-tempered, nihilistic hedge funder Mark Baum (Steve Carell) and his tight-knit team (Jeremy Strong, Rafe Spall and Hamish Linklater) to go into business with him, despite the fact that Mark hates everything that guys like Jared stand for. Word of Vennett’s proposal also reaches small-time investors Charles Geller (John Magaro) and Jamie Shipley (Finn Wittrock), who request help from their mentor, former banker Ben Rickert (Brad Pitt), in getting them a seat at the big boys table.