This is the most frightening movie I’ve seen. It’s about the housing bubble burst in 2008 that triggered a global financial crisis. It was co-written by Michael Lewis and is based on his book, The Big Short: Inside the Doomsday Machine. He also wrote the books The Blind Side and Moneyball were based on, so you know it’s gonna be good.

There are three things that make this movie so scary. First, they explain everything in terms that the average person can clearly understand. Second, people in a position to stop it, didn’t. The housing bubble burst was bad enough, but not what caused the crisis. That was done mostly by bankers betting against the banks and against the public. That is to say, they didn’t care how many people were going to lose how much, they just cared that they found a way to profit off it. “Disgusting” really doesn’t even cover it. I don’t think there is a word bad enough.

There’s a scene where two wunderkind investors, mentored by Ben Rickert – based on real-life Ben Hockett and played by Brad Pitt – realize they’ve pulled off the deal of a lifetime, that’s going to make them billionaires. They are so excited, they’re doing their victory dances in the lobby. Rickert is furious with them, makes them stop. “Can’t we celebrate our victory?” Rickett says, “Do you know who you just bet against?  You bet against the American people!”

Artistically, the film is wonderful. Because the average film-goer does not really understand how the crisis happened, director Adam McCay uses the technique of on-screen voice-overs (you see the person, but he is talking to the camera, not anyone he’s talking to) to explain it and keep everyone up to speed. Simple, but brilliant. One often-reviewed scene has Selena Gomez at the blackjack table explaining CDOs (collateralized debt obligation).

Celebrity chef Anthony Bourdain is recruited to explain market funds. He compares fresh fish to day-old fish all thrown into a pot together, creating a new and enticing seafood stew that can be sold for the same price as the fresh fish. See? Simple, but brilliant.

This technique also keeps the film moving at a good clip, going from one perspective to another. It’s a little over 2 hours, but it never drags. Well, the first 40 minutes or so are maybe a little slow, perhaps, but that may be because McCay couldn’t go running along until we’re all up to speed.

The acting, not surprisingly, is terrific. Besides Pitt, you have Steve Carell, Ryan Gosling, and Christian Bale. The letter three are in roles that run somewhat counter to type, which is always interesting to watch.

Carell plays Mark Baum – based very closely on Steve Eisman. Some critics have called his character the heart of the movie, and I think that fits. He is certainly the moral compass. Eisman really did try to get the banks to stop what they were doing. His own people didn’t even believe him, though.

Oh, and third thing that’s so frightening about the movie? The banking system is setting itself up to do the same thing again.