Bioshock 2 Crashes

It's probably a corrupted install.

Reinstall the game. If that doesn't get it working, reinstall steam.

That fix sounds intensive, but it's likely to fix the problem. I'd rather spend an hour or two on a fix that I'm very confident about than a fix that simply won't work.

Did you try validating?

This is a major problem. It took me a while to get my Bioshock 2 to work. I believe this is what worked for me though it took some tinkering. It's the only bookmark I have on the issue, so I'm assuming this is how I fixed it.

http://forums.2kgames.com/showthread.php?57504-Fix-for-Bioshock-2-crash

yes, the game is broken as fuck... also GFWL... god, that thing is the worst thing that happend to gaming since all the generic COD clones...
anyway, i solved my problem adding "-dx9" as a command line, that forces the game to run in DirectX9... is not the best, but is the easy way, without patching, and re-installing...
to do the thing that i just tell you, you have to:
go to your game library>right click on the bioshock game>properties>launch option
and in that new window that will pop-up you write -dx9, then save, and launch the game...