The Big Short is based on a Michael Lewis book, so much like Moneyball with Brad Pitt, it's more dramatized and takes lots of liberties with the truth to tell a better story.

There is some parodying of government in The Big Short.

Steve Carrell goes to the bond rating agency at one point to figure out why the subprime market isn't crashing despite being full of dogshit. It's run by some old bint who just rubber stamps everything as to not rock the boat.

There's also a scene where they meet a SEC official at a pool. She turns out to be some younger slag who is only interested in fucking the very traders she's supposed to be policing.