This film sits within a genre that casts the 2008 Financial Crisis as the Greek Tragedy of modern finance. It follows Treasury Secretary Hank Paulson (William Hurt) as he scrambles to save both the U.S. and global economies. Billy Crudup as Tim Geithner and Paul Giamatti as Fed Chair Ben Bernanke are both incredible performances that round out an exceptional cast. 

As the lead of crisis control, Paulson orchestrated the Troubled Asset Relief Program (TARP). Initially framed as a $700B “cash for trash” plan to buy toxic assets, TARP stalled in Congress after John McCain urged caution. A retooled version instead injected capital directly into banks.

In one of the film’s most memorable closing sequences, Paulson, Bernanke, and Geithner summon the heads of nine major banks. Hanson stages the scene with a lateral dolly shot across the table, isolating each executive’s reaction as Paulson unveils the government’s $125B stock purchase plan. The banks accept. The credits roll, followed by a sobering epilogue: bailout funds did little to ease lending, foreclosures mounted, unemployment rose, and the largest banks emerged even larger — cementing their status as “too big to fail.”

No other film captures the mechanics and atmosphere of the 2008 crisis quite like this one. Too Big to Fail is a must-watch for anyone seeking a gripping, behind-the-scenes drama of one of the most consequential economic collapses in modern history.

One of Bernanke’s standout lines, lifted directly from Andrew Ross Sorkin’s book, recalls a conversation with Alan Greenspan, who grimly suggested the government should buy up vacant homes and “burn them” to address the housing crisis.

The first scene that struck me was Paulson’s meeting with Chinese diplomats during the 2008 Beijing Olympics. By this point, Bear Stearns had been absorbed, and Fannie Mae and Freddie Mac were under government control. With billions in foreign capital tied to these institutions, the meeting underscored the staggering global implications. Director Curtis Hanson frames the exchange with over-the-shoulder shots, pulling the audience into the tense, behind-closed-doors atmosphere as Vice Premier Wang Qishan bluntly reminds Paulson of the international exposure at stake.

The film also follows Richard Fuld (James Woods), CEO of Lehman Brothers, as his firm unravels. Paulson orchestrates desperate lifelines — calls to Warren Buffett, talks with Korean capital brokers, and high-stakes meetings with top U.S. banking executives: Jamie Dimon, Lloyd Blankfein, John Mack, Jon Thain, and Vikram Pandit. At first, the pieces seem to align, hinging on Barclays’ participation. But regulatory hurdles and concerns about British public perception sink the deal, leaving Lehman no choice but bankruptcy.

The fallout was immediate. Goldman Sachs and Morgan Stanley plunged, AIG’s balance sheet collapsed, and even General Electric struggled with basic operations. Unlike Lehman, AIG wasn’t a bank but an insurer, which meant wider exposure beyond real estate debt. Ultimately, the government bailed out AIG to stave off broader contagion.

Next came the fight to save Goldman and Morgan. With private buyers scarce, Mitsubishi invested in Morgan, while Buffett injected $5 billion into Goldman. Paulson then pivoted from piecemeal rescues to systemic solutions: the Troubled Asset Relief Program (TARP). Initially framed as a $700B “cash for trash” plan to buy toxic assets, TARP stalled in Congress after John McCain urged caution. A retooled version instead injected capital directly into banks.

In one of the film’s most memorable closing sequences, Paulson, Bernanke, and Geithner summon the heads of nine major banks. Hanson stages the scene with a lateral dolly shot across the table, isolating each executive’s reaction as Paulson unveils the government’s $125B stock purchase plan. The banks accept. The credits roll, followed by a sobering epilogue: bailout funds did little to ease lending, foreclosures mounted, unemployment rose, and the largest banks emerged even larger — cementing their status as “too big to fail.”

No other film captures the mechanics and atmosphere of the 2008 crisis quite like this one. Too Big to Fail is a must-watch for anyone seeking a gripping, behind-the-scenes drama of one of the most consequential economic collapses in modern history.