Review of Too Big to Fail (2011) by Kevin M — 03 Aug 2017

Too Big To Fail is an HBO drama which depicts the 2008 financial crisis from the POV of Treasury Secretary Paulson (Hurt), Ben Bernake (Giamati) and various actors playing the heads of the Banks and investment firms.

The film is basically divided into two parts: the failure of Lehman Brothers under Dick Fuld (played by a highly effective James Woods) and then the consequential lead-up to the government bailout of the banks.

The reason Iike this film so much is because it depicts the logic of the bailout itself.

The Bailout, as depicted, was basically a way to hide the insolvency of weaker banks by spreading money around so that the American people wouldn't know which banks were weak or strong.

As a Mortgage broker of the time, I'm old enough to remember the failure of INDY MAC which caused a run on the banks and ultimately led to the FDIC increasing insurance from $100,000 to $250,000.

The film makes connections to the 2008 presidential race between Obama and McCain. It makes sure to explain that the bailout was inevitable regardless who won the presidency in 2008. The "saving of the auto industry and economy" which became a talking point on certain media stations was inevitable.

Too Big to Fail ultimately ends with an explanation of the banks receiving the cash and a Hope" they'd actually loan it to customers (which of course didn't happen.

William Hurt does a brilliant job as Paulson - who would otherwise be vilified in your average liberal-made (Michael Moore) film. The entire cast is brilliant.

It's a must see for anyone who wants to learn about the crisis.