Very accurate!
However the government required, regulated, and legislated the banks into writing those worthless mortgages.
And that’s how they ended up in the swaps- what else were the banks to do with them but what they always did with mortgages?
The movie described how this was an established practice but just ignored why it became dangerous, IMO they fostered the impression that the banks and investors created the empty mortgages on their own.
But it was an enjoyable movie , good acting and writing, fun believable characters.
“And that’s how they ended up in the swaps- what else were the banks to do with them but what they always did with mortgages?”
True, but lying about the quality of them is still wrong. As is too big to fail.