Steve Carell in The Big Short.

Director Adam McKay, the master behind broad-comedy gems Anchorman and Step Brothers, flexes his more-serious muscles for The Big Short, a take on the housing bubble that nearly destroyed the global economy.

An ensemble cast including Christian Bale, Steve Carell, Ryan Gosling and Brad Pitt makes this a funny yet scary look at how big banks nearly sent our economy back to the Stone Age. Carell is especially good as Mark Baum, a banker with a conscience who realizes a little too late that things are going down hill—and that his wealth is coming at the expense of many U.S. homeowners.

Bale is typically good as Michael Burry, a man who saw the storm coming and made a boatload of money by betting against the biggest monsters of modern finance. Pitt has fun as a financial guru who has taken to the hills in anticipation of the oncoming financial apocalypse, while Gosling gives the whole thing a nice Martin Scorsese vibe as a fast-talking banker/narrator.

This is a drama, but it’s often funny. (Margot Robbie in a bubble bath…brilliant!) McKay shows that his chops go well beyond directing Will Ferrell with a fireman mustache.

The Big Short is playing at theaters across the valley.