Reneging on Too Big to Fail

HBO announced last week that it will release Too Big To Fail on May 23rd, a film based on Andrew Ross Sorkin’s book. Viewers will judge the film partly on how well it captures the desperation of late 2008 as Paulson, Bernanke, Geithner and others sought to avoid complete financial meltdown. But what we really ought to worry about is whether the film will be a forecast of the future.