Too Big to Fail (2011)
(On Cable TV, March 2021) I have a great deal of admiration for films like Too Big to Fail, which attempts to tell the abstract story of a financial system on the brink of collapse and somehow manages to make it interesting, gripping and human. Fictionalizing the events of the 2008 financial crisis, it’s a film that features a dizzying ensemble cast of known actors playing bite-sized parts, showing up for mere moments in order to deliver some pieces of exposition. The script is admirable in how it boils down complex ideas and esoteric notions into short punchy scenes, making the final result fit in substantially less than two hours. Director Curtis Hanson somehow keeps it all intelligible, even as characters come in and out of frame, with helpful subtitles to tell us who they are playing. William Hurt plays the film’s designated hero, Treasury Secretary Henry Paulson, as a man inheriting a problem of historical proportions, and trying to find unthinkable ways to save the system from blowing up. It’s all surprisingly witty, tense and even admirable in how various schemes are put together in an attempt to control a system that few understand. The flip-side of the film, of course, is that it makes heroes out of situations where there was a lot of blame to go around — unlike The Big Short, it’s not really interested in assigning blame, working itself up in righteous anger or examining the opportunity cost of a situation where “the system” was saved but no one important was punished. (Meanwhile, homeowners and lower-level employees…) It’s a film that’s partly about capitalism back-patting itself for how it has captured the regulatory and legislative process: there’s probably a really smart and venomous progressive critique of Too Big to Fail out there that I haven’t yet read, and it’s just as valid a take. Until then, I can’t help but be half-amazed at how much stuff the film manages to fit in 98 minutes, whether it’s featuring the character of Nancy Pelosi, portraying ultra-high-level conversations, having a glimpse at how international policy is made, brainstorming with the bright kids providing assistance or the personal toll that crises take on even Very Serious People. It’s all playing on a very different registry than most films, and perhaps for that alone Too Big to Fail is a truly fascinating piece of work.