Adam McKay on the balance between comedy and tragedy in 'The Big Short'

NEW YORK, NY - NOVEMBER 23: (L-R) Jeremy Strong, Steve Carell, Adam McKay, Ryan Gosling, Brad Grey and Brad Pitt attend the premiere of "The Big Short" at Ziegfeld Theatre on November 23, 2015 in New York City. (Photo by Jamie McCarthy/Getty Images)

For a film about the demise of the American comedy, "The Big Short" still has plenty of laughs. Director Adam McKay says it was a delicate balance.

The new film "The Big Short" tells the true story some of the key players who managed to make enormous sums by betting against the housing market in the mid 2000s.

Based on the 2010 book of the same name by author Michael Lewis, the film version stars Brad Pitt, Steve Carrell, Christian Bale and Ryan Gosling.

And for a film about the demise of the American comedy, it still has plenty of laughs. That may come as no surprise considering it was directed by Adam McKay, whose other films include "Anchorman" and "Talladega Nights."

McKay joined Take Two for a discussion about his approach to translating the book for film, and how he balanced the tragic and comic elements of the story.

To hear the full interview with Adam McKay, click the link above.