We are still living the (aftermath of…?) the global financial crisis that took the economy into recession starting in 2008. But it didn’t start in 2008 of course. It started over a decade earlier when investment banks found new ways of packaging debt. Then they evolved these new markets further by creating products consisting of funds consisting of bonds consisting of shares in packaged debt consisting of subprime mortgages. And these new markets were just as intransparent as the previous sentence was.
The movie is set in December 1952, initially in New York. Therese is a young girl working in a department store who has ambitions to be a photographer, and has drifted into a relationship with Richard, who wants her to come away with him on a trip to Europe, and has stated his intention to marry her. One day in the department store Therese sees a confident, beautiful middle aged woman called Carol (Cate Blanchett), and is intrigued by her.