There are plenty of chuckles delivered by the biographical film The Big Short, but they are mostly a result of outrageous behaviour from the morally bankrupt businessmen on screen. Their conduct is so audacious, so nakedly brazen, that you can’t help but laugh with incredulity at the shameless greed on display.

Set before the events of the financial crisis of 2007-10, this film by director Adam McKay is based on the non-fictional Michael Lewis bestseller by the same name. It explores the actions of the corrupt and irresponsible members of Wall Street who took the United States economy for a ride, so as to satiate their own appetites.

For a film exploring such complex subject matter, The Big Short is appreciably easy to understand. It examines the house of cards that the American marketplace became thanks to illegal and immoral activity through business loopholes in the housing market, without stressing the viewer. It manages this not only through fantastic screenwriting, but some lighthearted meta film-making. For example, when explaining events particularly important, The Big Short breaks character by introducing us to a celebrity who in a cameo explains things in layman terms. Such scenes of mocumentary-style storytelling are peppered throughout the film, giving it flavour.

If The Big Short is a dark comedy, then the American people are the punchline

Nominated for five Academy Awards, including Best Picture, Best Director, Best Supporting Actor and Best Adapted Screenplay, the compelling nature of The Big Short owes much to the fantastic performances from its ensemble cast. This includes Christian Bale (Dr. Michael Burry) as a one-eyed neurologist-turned-brilliant hedge fund manager, Steve Carell (Mark Baum) as a Wall Street manager tired of businessmen taking advantage of the economy, Ryan Gosling (Jared Vennett) as an employee of Deutsche Bank who sees the economic collapse coming and is interested in walking away rich, Brad Pitt (Ben Rickert) as a former banker who has seemingly given up on his industry, and John Magaro (Charlie Geller) and Finn Wittrock (Jamie Shipley) as a pair of young bucks looking to multiply the fortune they have made while running a successful hedge fund out of a garage.

The film begins in 2005 when Dr. Burry, a genius with numbers, realises that the housing market is rigged to collapse in an explosive mess, and formulates a plan to bet against it by creating a credit default swap market. Here, he visits a number of leading financial institutions, including some of the world’s biggest banks, placing enormous money behind his proposal. In their eagerness to make an easy fortune, the bankers agree to the deal. Soon, a few other enterprising men catch on and begin to bet against the housing market as well. Here, the film cleverly nudges us towards a dilemma; while we want these characters to succeed, we realise their success means indirectly celebrating the suffering of countless people.

Although the acting in The Big Short is outstanding across the board, Christian Bale stands out for his performance as an honest man with Asperger’s Syndrome who is misunderstood by those around him. Likewise, Stave Carell is brilliant as the film’s moral compass. The deeper his character investigates into the wrongful dealings of Wall Street, the more outraged he grows. We, the viewers, share in his lament.

Not surprisingly, The Big Short ends with one final joke. Although this last jest doesn’t earn any laughs, nor is it designed to, it is right on the money.

Rated R for pervasive language and nudity

Published in Dawn, Sunday Magazine, February 7th, 2016