This is worth your time.
The shenanigans last time basically involved bullying JP Morgan into buying Bear Stearns, followed by Lehman eating shit, followed by everyone recognizing that all these deck chair games were meaningless while AIG ate shit.
This movie? This movie is about AIG.
See, the proletariat loves thinking in "Big Short" terms because of course they do, that's why it exists. Big Short is about some scrappy traders that bet big who won the lottery, American Carnage is very much off-screen. TBTF and Margin Call are about clever people within their expertise who made the wrong calls despite all the information in the world and they know we're all fucked and their only rational choice is to fuck everyone else more.
Big Short is 100% "look how clever our scrappers are" while the movies the traders worship are fucking horror movies. You can't avoid the slasher if you have to go camping in the woods. Because here's the problem: There isn't enough policy in the world to stave off systemic collapse, there never has been, there never will be, so all these ostensibly dispassionate regulators have to engage in horse-trading in order to keep the music going and historically? It delays the inevitable for anywhere from a few days to a few months. As of this writing, we are 21 hours past the Treasury's bid deadline for Silicon Valley Bank. Someone was supposed to swoop in, scoop up their assets and make everyone whole and all I can see is that PNC isn't someone.
You've got an ocean liner. It's got 2200 passengers. It's got lifeboats for 900. You just hit an iceberg. Do you immediately begin the rational, calculating process of figuring out which 1300 passengers are designated drowners so you can get the other 900 to sea? Or do you rearrange some deck chairs and cue the band so people panic less while you get your loved ones and family afloat?
We're all busy cosplaying Jack and Rose while the Treasury is doing everything they can to put off drawing straws. The 14-lifeboat idea was signed off by everyone, we all agreed it was better than nothing, and then we diligently planned on not hitting an iceberg, and here we are.