Margin Call - "Sell it all. Today." 👆🤘👆
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- Опубліковано 30 бер 2021
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"Margin Call" is a very underappreciated movie IMO. The movie is starred by Stanley Tucci and Kevin Spacey. There are a lot of parallels between this movie and what happened last Friday with the unwinding of Archegos Capital Management's positions by Goldman Sachs and others.
No idea why I started thinking about it on Friday 26th March 2021 but its a lot what Goldman Sachs did when it liquidated $10.5 Billion in Stocks in Block Trade Spree. The bank sold $6.6 billion worth of shares of Baidu Inc, Tencent Music Entertainment Group and Vipshop Holdings Ltd, before the US market opened on Friday. Following this, Goldman sold $3.9 billion worth of shares in ViacomCBS Inc, Discovery Inc, Farfetch Ltd , iQIYI Inc and GSX Techedu Inc, according to the report.
Deutsche Bank AG dodged this bullet (mimicking Goldman Sachs Group Inc. and others) by a swift
disposal of $4 billion of available-for-sale collateral from its prime brokerage exposure to Hwang. Credit Suisse Group AG and Nomura Holdings Inc. were less fortunate. The collateral they hold
may now both be much lower in value and less liquid, taking much longer to offload, with commensurate larger losses. While there were reported attempts to broker a club deal on
Archegos and to undertake a collective controlled explosion of the positions, trust among the investment bankers was absent. It became devil take the hindmost.
We already know that Credit Suisse took the brunt of this though. The reporting overall on this has been pretty thin given the fact that one family office going belly up pretty much rocked five gigantic financial service brokerage firms? And disrupted the trading of how many companies? Really a larger point that is apparently being missing - Goldman, Morgan Stanley, et al. did NOT have better risk management in place. They were all on the Titanic - GS and MS simply jumped in the lifeboats more quickly.
1) Controversial, but upon reflection I would put this entire speech up against any speech from "Wall Street."
2) "So you are a rocket scientist....Maybe you could tell me what is going on. And please, speak as you might to a young child. Or a golden retriever. It wasn't brains that brought me here; I assure you that."
3) "Do you care to know why I'm in this chair with you all? I mean, why I earn the big bucks...I'm here for one reason and one reason alone. I'm here to guess what the music might do a week, a month, a year from now. That's it. Nothing more...."
4) "...And standing here tonight, I'm afraid that I don't hear - a - thing. Just... silence."
Just so good.
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I showed this clip to my golden retriever, now he’s managing my portfolio
Haha!
The comments never disappoint
Buy tennis balls! They're rebounding!
I "liked" your comment a few days ago. It just made me laugh again today. Kudos. Oh, is your retriever taking on new clients? Asking for a friend ;)
I did the same to my small child.
The most realistic part about this entire scene is got an analyst/associate spent hours putting a deck together and no one even opened it. Anyone who's worked in financial services knows this feeling.
In part, it's the fear of being the messenger that gets killed for the bad news. Better to let your boss deliver it. The boss will want the report to be vetted among peers and other experts, then, and only then, does it get raised up the flagpole.
Legwork needs to be done no matter what. Acting upon it by faith in the chain of command is the sign of a well oiled machine.
@@ralphmacchiato3761 Never blame capitalism, blame the people who mismanaged capitalism. FDR did not say that but his actions speaks louder than words for he saved capitalism for capitalism. When people say 'capitalism doesn't work', what they really mean is 'We've distorted capitalism with a bunch of regulations that don't work, so let's give up on it and switch to something that has never once worked'. The regulatory system of FDR just worked fine until it was abused and misused by the leftists and progressives to the point it allowed the opposition to de-regulate America that destroyed the very safety mechanism that prevented the negative side of capitalism to overwhelm the positive side of capitalism. The purpose of FDR's regulatory policies is quite simple, prevent the abuse of capitalism and prevent the misuse of it's powers. It is because of FDR's regulatory policies you have the 1950s and 1960s economic miracle and then in the late 1960s you started ripping it apart! In the 1970s , a wave of young liberals. Bill Clinton among them, destroyed the populist Democratic Party they had inherited from the New Dealers of the 1930s. The contours of this ideological fight were complex, but the gist was: Before the 70s, the Democrats were suspicious of big business. They used anti-monopoly policies to fight oligarchy and financial manipulation. Creating competition in open markets, breaking up concentrations of private power, and protecting labor and farmer rights were understood as the essence of ensuring that our commercial society was democratic and protected from big money.
As a analyst that puts decks together for a living, can confirm.
It's a good running joke in the movie. The higher up the food chain this goes, the more simplified Peter has to make the explanation and the longer it takes for people to grasp what's happening lol.
“Carmelo get me Eric Dale here by 6: 30.” “It’s done.” Most of the movie is wondering where that guy is and all Tuld had to do was unleash one bloodhound. That, my friends, is terrifying power.
Like 12 Angry Men, just guys in a room talking. No CGI, no romance angle, no music, just pure acting. Love it.
I don't know if it's 12 angry men good. But it's a really good scene. I can reel Kevin Spacey's reluctance. Apparently something that is entirely fictional for him in any circumstance.
Pure "Men" And masculine
all we want is truth about what happened at that time
I was a broker for 32 years. This movie gave me a panic attack. Praise doesnt come higher.
I don't even invest and this scene has confirmed the reason why I don't. I have just enough knowledge to be ignorant and this scene shows just how ignorant and bad of an investor I really am.
Sales guy: "Hey, you wanna put $200 on Apple stock?"
Me: "Are you out of your frigging mind? I don't wanna lose my house and bike."
I consider this film to be part of a Trilogy.
Margin Call - The traders perspective
The Big Short - Banking, investor, hedgefund perspective
Too Big to Fail - Government perspective
All great films.
🙌🏼🙌🏼🙌🏼
Thanks.
You got that list perfect. I should watch this in a row one day!
Boiler room > to big to fail
Thank you. I’m happy I seen your comment because after this scene it made me want to watch the movie and wish that had others from different perspectives now your comment gave me that. Very much appreciated 🙏🏽🤘🏽
"How many times have you watched this clip?"
Me: "yes."
Loves how John looks around to make sure nobody intimidates the analyst.
This is Jeremy Irons first appearance in the movie, and he walks in and takes over the picture.
Yes. And every other actor knew it too
The best part is seeing Kevin Spacey's face while Irons is acting. It's 100% pure admiration. You don't see that too often. Especially when it comes to people like Spacey, who's a prick to work with, one of the greatest actors at the same time.
@Nadia Brooks It is called talent , experience , and understanding the part .
@Nadia Brooks Yet a good script still needs the actors - and Director - to make it work. I haven't seen any more of this movie than what is in these few UA-cam clips, but the quality in just this clip is colossal.
@@MarsFKA I agree
Irons absolutely kills this scene. He is the embodiment of a high level, powerful executive.
You misspelled crook
They’re a lot meaner in real life unfortunately
#ironicnineironchipincharge
@@LJamesStudios yep. The one thing this board room doesn’t show. Albeit it would ruin normal people’s idea of what a big bank/funds board room acts like, is that half the guys in the room are ultra aggressive.
It makes sense. You want to be the top of the pile, taking home tens of millions in bonuses and then with a golden parachute/handshake, you’re going to leave with a net worth of likely $100 million +, you need to be the “best”
12-16 hour days as fairly standard.
And everyone in the room has an iq of a minimum of 115.
Standard would be 125, very bright.
That boss will likely be mean. Abusive. Demanding.
Jeremy irons is so cool. But he plays the stereotype of what we think a top executive is.
This ultra confident man of few but precise words.
It’s a character.
Albeit you can feel the reference in the room. They know the hierarchy.
Nearly as good as his acting in dungeons&dragons
Another day, another viewing of this scene…
I hate how Kevin Spacey took Kevin Spacey from us.
Sadly, Margin Call falls in the category of "Classic Movie Nobody Has Seen". Excellent cast at the top of their game. Great writing. No nonsense "smart" movie that delivers from beginning to end. One of the top 20 of the last 20 years for me.
Yeah.. likely because no one understood the movie when it came out...
Sad but True.
I liked Company Men but it had a few faults.
This movie was astounding.
1) Dumb people like dumb movies 2) Smarter people sometimes want to escape from their smart life. So let's see Avatar or The Avengers. The movie was too smart and lacked character development, with the exception of Spacey's character. Having a few scenes with Jeremy Irons getting woken up and helicoptering in, or Zach Quinto in a s*hole apartment, or Demi Moore with her lesbian supermodel gf, or Tucci breaking the news to his family would have added a lot to the movie. Great potential. Another one is "Things to do in Denver when You're Dead".
Meh this movie is just sort of boring and most people aren’t into finance enough to hardly even care about what’s going on.
I’m really really into finance and I love a lot of these actors and I still only watched this movie once.
@@mf5202 I don't we're smarter just for liking dialogue over high action volume...This was just a low budget high quality set that got unlucky with marketing I guess
"You will never sell to any of those people ever again." Sam is concerned the people will never be willing to deal with the firm again. John, the CEO, recognizes that nearly everyone who buys today will never be in a position to purchase again because they'll be wiped out.
Actually, Buyers are alive coz they got peercantages. The Ceo concern the company. Because if they dont sell it. There will be no company anymore. And Ceo might be sleep on streets.
Yes, but most of the people working there will be working somewhere else after that.
As much as I've watched this scene, dozens of times, that hadn't occurred to me. In a nutshell, Sam is focused on the relationships which will be irrevocably broken, while Tuld knows that it won't matter because they'll be bankrupt anyway. True to their respective natures. Thanks for pointing that out.
Doesn't matter if they can't sell again, that is still an IF, but if they didn't sell crap to willing be buyers, they definitely will not be able to survive to explore any possible "if" in the future
Some of those people may be wiped out yes, but it’s also the fact that a few years post crash he knows people will get greedy and the music as he puts it will start back up again and those greedy people will forget how they screwed them over.
Jeremy Iron’s hand gestures, the right hand most of the time. Pure genius at work.
Jeremy Irons (as usual) absolutely crushed this scene. just the perfect amount of professionalism and cold-blooded evil that you expect from a CEO
Jeremy Irons deserved an Oscar for this performance. With the aid of some excellent writing and directing, Irons superbly locates the beats between the lines. In less than 9 minutes his character charms, self-deprecates, placates, condescends, lectures, boasts, scolds, instructs, justifies, warns, commands, and cajoles. This is combined with his subtle body language, which is mostly open and free (occasionally betraying his true emotional state) until he finally draws a closed, defensive position and utters the words: "so that we may survive". A masterclass performance for the ages.
Nicely written.
I wish more people recognized this
I absolutely agree. This is a masterclass of acting and in no small part thanks to excellent script-writing. I watch this clip over and over, whatever the reality of how this would have played out in the real world, it's still hugely compelling. I would give him an Oscar for this clip alone. By the way I can't even add to your list of adjectives - fully covered, I think, and something I hadn't noticed..
Man you nailed that right on the head. The acting in this movie is just amazing. Say what you want about Kevin Spacey's personal life, but wow, this guy on lens is one of the best. Paul B., Jeremy Irons, amazing.
@@marklaechel4537 I felt most of the actors in that scene did good work, not just sitting stiffly when the focus wasn't on them. but reacting as real people in such a meeting would.
Such a good example of Executive management. He gives the "lower" ranked person respect and listens openly, then turns to the other bosses and expects answers. Love it.
Can you elaborate on this?
Most of the time are the guys down below who knows all the details. But you wouldn’t expect them to know what to do, that’s what the exec team is for.
always happen the executive cannot blame the associate but the manager. I dont know why it is like that. I've experience it.
I think you mean an example of "good exec management" , but only if he takes care of that associate and doesn't leave him out to dry after drawing him out. What I normally see of institutions is that they hold the lower levels to a much higher standard than the higher levels at least from what is visible. They higher ups may get a stern tongue lashing, but rarely the demotion they deserve, but lowers will often just be removed entirely.
It’s the corporate structure: the lower employees do the work, while the higher up figure out how to make decisions based on that work.
Carmello........Done!! One of the best lines of the movie!!!
When your boss is like "explain it to me like I'm a dumb child," you know shit just got real.
- Speak to me as you would a small child or a golden retriever
- Who's a good girl? Are you a good girl? Go find the toxic debt, I'll give you a treat
Shaun Patrick O'Jameson.......everything you need to know about making a business presentation [to 'C-suites'] is contained in this brief extract. It covers the 3 essential elements perfectly.
hahaha
Really that line was basically "simplify it so the audience watching will understand"
@@thesoultwins72 what's the 3 essential element exactly??
@@honor9lite1337, the good stripper girl, the toxic debt, and the treat.
Just for a moment, take in the cast acting in a low budget movie. Jeremy Irons, Kevin Spacey, Zachary Quinto, Paul Bettany, Simon Baker, Demi Moore, Al Sapienza, and off-screen - Stanley Tucci. That's a mind-blowing amount of talent in one room.
This is such a great scene, one of my favorites of all time
Aasif Mandvi too
Jeremy Irons looks intimidating and puzzled at the same time. It's mesmerising.
Also consider even with all the talent in that room Jeremy Irons enters in the middle of the movie and completely takes it over.
3.5 million budget, how did they do that?
I love how he immediately cuts through all those senior managers, board members, etc etc… and speaks straight with the guy smart enough to see the bigger picture, no matter how ‘junior’ he is. There’s a level of insight they’re both on that supersedes everything else. Love it.
the subtle 'STFU' side look at 3:46... jeremy irons is a genius
"Speak as you might a young child, or a golden retriever"
I use this line now lmao
I do this whenever I get pulled over by the Police....
I have actually used this line, stoping at "small child" and gets the job done...it implies humility as you dont look like a know It all, that needs to be explained. Yet, It also entails authority, as you get to make that request without being moked AND people need to bend over to be clear enough...
Me too!!
I think a variation of this line was first used by John Grisham in the novel "A Time To A Kill". Matthew McConaghey spoke it in the film: "Explain it to me like I was a five-year-old".
@@steren700 It's one of the most terrifying and effective lines I could think of. Because the implication of "It wasn't brains that got me here, I can assure you of that", is of course, "Well then what was it?" And the answer is, of course, a double-edged sword, in how it might jibe with the person being spoken to themselves; Unrepressed and irrepressible ruthlessness, in all likelihood.
The problem to me, is that he's saying this to Peter. Who is, as mentioned earlier, an actual rocket scientist. The kind of guy who, frankly, isn't likely to respect either dismissal of intelligence, nor the willingness to just do ruthlessness as he can see what problems this might lead to...
Good example that a film containing no CGI or special effects -- just good acting -- can carry a story so well. I miss these kinds of movies.
I still think some CGI would’ve been nice
So so true...
It's an excellent film. More explosions would have made it better though.
these kind of movies are not going anywhere ... there will always be some new good movies without CGI
These kinds of movies are made all the time. What are you talking about?
The glance Irons gives to the others as he tells Sullivan 'you're speaking to me' is so subtle yet crucial. So many aspects of his character and this meeting I have seen over time.
Carmelo is the guy you realllly don’t want to mess with.
But you want as your best friend. 😁
“Carmello, get me Eric Dale”
“It’s done”
Every serious company needs reliable muscle.
How would he know "it is done". Maybe Eric Dale was nowhere to be found or went far away like to get away from that company, this making it impossible to get him back in that short amount of time.
pretty sure he doesnt get him though.
@@davidjames1684 Apparently you don't know Carmelo.
Carmelo is gonna go places
@@davidjames1684 A company owning thousands of millions of dollars can get anyone anywhere anytime, allways. When the entire survival of a company that big is on the line, you will get him even if he went to mars, for yesterday. If the entire economy of the biggest country ever is at risk, he will be escorted by the ninja turtles if needed.
I loved it when he says "you're talking to me, mr Sullivan" what he is actually saying is: "I'm the only one in this room that makes the decisions, so you only need to explain it to me, everyone else in this room is irrelevant".
Sullivan saw some other bosses looking at him and felt intimidated for a second and Irons reassured him that it would be okay to tell it to him straight with no holding back.
@@johnnypastrana6727 Interesting! My take was that he was shooting a quick dart at Cohen, who may have had the slightest body language to try and cue Sullivan's response.
"you're speaking with me" because the ones you're looking at and nervous to speak in front of are history
@@ront0803 Cohen is Irons’ man and was the one that alerted him. Irons makes clear the connection. Spacey’s connection is from tenure, not choice. The two discussed what they would do before the meeting, before Irons got on the chopper. Do you think Cohen created the plan in an hour as depicted? He had his staff, undoubtedly huge, working on it the minute Irons agreed on action in the initial call. They also likely discussed the key players and pressure points. BTW, Carmelo’s goons were already hard at work looking for Tucci before Irons boarded the chopper, probably cell phone trace via NYPD connections.
The management committee meeting was a show for the managers to make clear the danger and need for action. Firms need shows too to get the message across.
@@michaelblazin4093 I'm glad you pointed this out because it doesn't look like anyone else has. Irons's mind was already made up before he walked into the room, decisions were already made, plans were already in action. The meeting was pro forma to allow things to be spoken out loud, and for him to make universally clear why he was doing the things that were about to happen. Irons already knew what Zachary Quinto was going to say before he answered his questions. It was, as you said, for show.
The way he flicks the paper two or three extra times after he says it wasn’t brains that got him there. The half beat and the smile just hinting at curdling. Every minute is so excellent.
Zachary Quinto knocks it out of the park in this scene. Goes toe to toe with all these acting heavyweights. This is such an underrated flick and Stanley Tucci and Paul Bettany in particular are outstanding.
I love the way the Jeremy Irons character feigns ignorance at the beginning, but by the end we realize that he understands, and has understood deeply for quite some time.
Can someone please explain why I comeback every month or so to watch this clip and find it just as amazing as every time I've watched it before.? I don't think I will ever get bored of watching this master piece.
Im about to watch it again. Jeremy, I call him Jeremy, came into the bar one night filming in ATL. I was going to tell him I always thought he should have been Magneto in the Xmen movies. He was playing pool. I did walk up to my bud, Jeremy and told him that. Hes a tall dude. He looked at me liked he looked at Quinto and I went back to my chair. I was proud I told Jeremy what I thought. The end
Exactly
Haha, i do the same every so often
I've been in a couple of these types of meetings (although I was never close to being a CEO, and they were never this dire), and this scene perfectly captures the tension and anxiety present in the room.
im guessing you watch the princess bride swordfight too. if so, you are right for doing that lol.
The scale of this sort of companies operation is what astounds me as well. They discovered the issue around midnight, had upper management in a room strategizing by 2am and had the ceo and board of directors flown in by helicopter only a few hours later. Not to mention, fresh coffee, breakfast and information packets stapled together for everyone just in time for the meeting. The meeting itself probobly cost $500k
People often overlook the brilliant photography of this scene as well. The use of depth of field, the irksomeness of crossing the line repeatedly, the big space in frame given to the CEO, the small room given to everyone else, unless the CEO allows them the space. It's beautifully executed. Just like the scene, it is largely calm, yet there is a volcano about to erupt underneath their feet.
*JI:* "Do you know why I'm in this chair?"
*Me:* "Because you killed Mufasa."
...
*JI:* "Precisely!"
😂
I'm surrounded by idiots. Lol
😂
Actually, Carmelo killed Mufasa
Lol never realized he was scar
His line about about brains not getting him there was great. He gave a little smirk as he said it. He’s obviously extremely intelligent, but the the REAL reason he got where he is was a combination of being both ruthless to an extent when he had to be and also surrounding himself with people who actually are smarter than he is.
I was about about about to say that.
The reason he is rich is because the character is basically a glorified crook who did all he could to decimate the world market
Tywin Lannister all the way. God I missed that show when it was good.
The definition of leadership. Too many higher ups think they must have all the answers and many times over act to compensate.
Also he made the right connections.
For an analyst, an engineer, a numbers guy, he's fantastic at explaining a relatively complex risk management problem to a group of seasoned (but probably not fluent on the current situation) high management individuals.
Acting masterclass from Jeremy Irons
This has to be one of the most convincing movie depictions of a high level meeting following the sh*t hitting the fan. The facial expressions and eye movements along with the dialogue are perfection.
The Big Short is also another great film made around this time in regards to the housing market and the Great Recession
that occurred between 2007 to 2009
And we get to see it again in real life and it's happening right now...the Fed is going to try like hell to stop the crash.
I have been in meeting like this before. Very similar to the meeting Colonial had when their systems were ransom wared. Trying to explain to the CEO that restoration of service is going to take weeks not hours and the reason why is because the guy sitting next to him (CIO) though the cost of actual Disaster Recovery was too high and thus only funded a half measure. As Stu said, the eye movements and shifting in the chairs, and the tenseness is just perfectly presented.
@@JohnnyBGood11 Well that is what happens when you shut down an economy for a year and print Trillions of funny money. Then the American people fire the only person Business's trusted to get them out of this situation and replace with a senile old man. Now think about what our 401ks and investments are going to look like in the next 2 years? We all need to be in for the long haul because this is not going to recover quickly and only safe bet is maintain your position and hope for the best.
@@satanicaleve The Big Short was the Fisher-Price Baby's first book of the '08 recession. It was decent, but for me Margin Call is on another level. It's a serious movie about a serious subject and ironically enough, doesn't treat the audience like they are a small child or a golden retriever.
The random guy who stands up and Jeremy Irons takes a moment to veer over and shake his hand when he enters the room is one of those small acting/directing touches I love. I can't pinpoint the why, but it makes the scene real for me.
I still wonder who that person is.
Older guy, probably go back along ways but it is a touch of realism that people notice
Hero comment
@@jessedaughtry4433 Exactly. Some older member of the board that Jeremy Irons' character feels grateful made it out, and shows him that respect
You are so right and mr. Irons body language towards that man is sterling.
When Carmelo says “It’s done” it is the answer that every leader wants.
The decision to hold the camera on Jeremy Irons for just a single second longer at 3:45 is one of those small things that make this movie so good. The CEO is watching the other execs and maybe even glaring at them. It is a look that speaks to what he is thinking and feeling about those people without him actually saying a single word to them.
"Sell it all. Today." - Goldman Sachs and Morgan Stanley, about the Archegos portfolio, probably :)
Whereas Nomura probably scheduled their meeting for midday, made a decision by 5pm and acted on it the day after
Spot on.
@@yohjijames1413
LOL, Nomura was left holding the stinky bag
They believed selling was the correct move, but there were others just as skilled who believed that buying, especially at a discount, was the right move.
My god xd;...
Jeremy Irons is without a doubt one of the best actors in the world. This office scene is so realistic, every actors and actresses plays it right , but Jeremy Irons get you to focus, interested in the whole scene. He drives his character, his part, his words into a realistic embodiment of top flight executive manager. Sublime.
he was doing UK kids TV in 1979. As was Christophe Waltz in Austria. Watch them both. I want their Oscars back.
What a powerhouse performance from Irons.
At one point I was sure Spacey was looking over at him not so much reacting in character but reacting in admiration of a fellow actor
What an actor, Jeremy Irons...Hats off, Sir!!!
Anyone who's ever been in a meeting with executives and the topic is out of your league, or you are unprepared, knows how absolutely terrifying this scenario is.
Very well said!
You scared of an old man sitting in a chair. What is he going to do? Fire you ? Then go get another job.
@@mrbrown6896 and use who as your reference?
@@user-hx7yi6wx5k LOL he flips burgers for a living what the f*** does he know. Big paying jobs means a lot of ass kissing and good references. These guys are making seven figures not five figure jobs.
It seems to me everyone in this meeting was 'in their league' and very well prepared, and still it was terrifying.
I love that there is no music in this scene. It’s just their voices, movements, and Jeremy Irons flipping the corner of the report
Extradiegetic music is what it's called. It's often used as a crutch by poor filmmakers to inject emotion into a scene. Although this is not a perfect or even "great" movie, I appreciate that the director trusted his actors enough to imbue the scene with drama.
Why would there be music anyway
It also adds to the analogy of the music having stopped.
There is no music because the CEO Stated that that music has stopped and he does not hear a sound. Good call Chef
Is there any music in this movie that isn’t also heard by the characters? I haven’t seen it in awhile but I don’t remember any.
8:11 this whole exchange is so well written and acted.
8:39 increasing tension
8:47 peak perfect line deliver
6:48 “Sell it all. Today.”
Now we see why Simon Baker’s character has risen so high while so young - he’s ruthless. Spacey’s character knows what has to be done, but he’s still human and that lack of ruthlessness means someone like Baker is his boss. It’s also subtly established that he has a long history with Irony’s character. Unlike the others, he’s not scared of him at all.
This entire scene is a masterclass in ensemble acting, but there’s two moments where you get a really good insight into how good an actor Irons is. The first is when he calls on Sullivan to speak, saying in a relaxed way, with a friendly smile, “it wasn’t brains that got me here…”. Notice how his thumb is instantly flicking the pages of the report, showing how much that relaxation is a facade.
The second is when he says, again calmly, “you’re speaking with me…” and gives a look towards the side - towards the most senior risk advisors - that betrays exactly how angry he is. It’s beautiful.
Anyone else enters the room: nobody looks up. Who cares. Mr Tulda enters the room: everyone stands up. "Friendly smile": like a cobra looking at a rabbit, emotionless stare, no blinking, thumb twitching folder to make clear that the thought bubble in his head contains: You have two seconds to explain it underling. Note the shift in temperature before /after Peter Sullivan´s statement: before: Jared blabla, after: Mr Cole I think this is where you come in. The room just got colder. When Sullivan speaks, the risk advisors give him the evil eye, but Jeremy gives them with a glance the bigger evil eye and freezes them out. A masterpiece of power play and dominance.
Couldn't agree more. I loved that sideways glance directed towards the senior associates. In the most subtle way, he conveyed to them in no uncertain terms that they shouldn't dare interrupt. Despite his calm demeanor, he was furious at the situation and the fact that they were on the precipice of disaster.
Beautiful indeed
His subtle body language when he says it wasn't brains that got him there is beautifully done. The scary smile and the flippant page thumbing shows he knows his power is being ruthless and in no small way a genius at his game.
Yes. Not brains, not good looks, just a ruthless business-sense. The page thumbing is brilliant. He finishes telling Mr Sullivan to speak in very simple terms to him (like he's not very bright) but the insistent page thumbing sets the pace for how quickly it should happen.
That smile is called a tiger smile.
I was a Bond's Trader and an Oil Trader for 27 years. The Friday meetings for me at least probably took several years off my life. No amount of money could replace that, but the High I received when WE killed it was amazing! Those weeks where WE lost Big still haunt me 13 years after retirement.
Probably my favorite scene in a film. The way he says silence is just a fantastic delivery. Kudos.
I showed this to my golden retriever. She actually did get it! Great job, Spock!!
Hahahahaha!
His name is Sylar
Wof Wof wof
😂😂
My Lab had gotten out of the position weeks ago. She lapped up the spilt milk, too.
Great writing! John Tuld knows exactly what needs to be done before even entering the room, and everything he says is meant to points the others to the same conclusion without him having to explain it. When Jeremy says "speak as you might, to a young child, or a golden retriever" it is to ensure that everyone around the table understands what the problem is and how it came to be. When Peter finishes his explanation vaguely by saying the crisis has sort of happened, he establishes that it has by saying in an elegant way that it is his job to say wether it has or not. Next he makes Cohen propose the solution hes after by referring to his lesson about being first. Tuld could have said everything himself but it sounds more convincing to the others when it comes from the right people. The analyst explains the problem and the responsible executive proposes the solution. Also Jeremys acting is brilliant as so many other have pointed out already
I had many bosses in the past. None of them as smart and wise as we Tuld ya
There's also the level of respect presented here. Irons is playing the CEO of a company that does trillions in trades. He himself is at the very minimum a multi millionaire, if not a full on billionaire. He is the guy that 'signs the checks' and who could fire every single person in that room on a whim, if he wanted to. Irons then turns not to his own senior executives to tell him the problem, he goes directly to the source. He's careful, and respectful when talking with Zachary, and that sets the state. He's effectively telling everyone, regardless of their position within the company, that Zachary is their hero. He alone figured out what no one could, and he's given them the warning that everything is about to fall apart. Without even really saying it, he's also telling everyone there, that they owe their jobs, and their futures, to this one young analyst, who figured out something that his 'brain trust' of executives couldn't. That is a great deal of respect. Even the correction about the music stopping, isn't done in a superior way. It's treated like a simple conversation, between equals. In a way, Jeremy's character sees himself in Zachary. Zachary, like he, has a good finger on the pulse of the market, and Zachary, like he, saw things that no one else could, or would. Zachary goes from being just a simple salaried peon at this point, to someone that Jeremy holds in a high regard. That does not mean that later, when the whole mess is over, that Jeremy's character won't fire Zachary's, but it does mean that when that time comes, you can damn well bet that the CEO will provide Zachary with a substantial payout, a reward, if you will. For saving the company as a whole.
An incredible portrayal of actual events. As a former exec at Goldman Sachs, I can tell you that this crew of actors and the writer nailed this scene. All of the actors engaged deserve some type of award. Jeremy Irons was incredible. This is the way the financial world works, and they captured it perfectly.
watched this clip over and over - over many years.. and yet the emotion and the intensity of the scene never fades. Brilliant writing and great acting.
Wonderful performance of all actors in this scene. Jeremy Irons is superb.
Iron's acting dominates over kevin spacey's acting! Who can do that!
Jeremy's Iron
Best Satan ever. He knows the price of everyone's soul.
I couldn't agree more
This was a great movie. Stunning.
"Carmello, get me the cure for Covid-19 by 6:30."
"Its done"
Italian Professional 😎🍷
I would but it does not exist
@@cont6430 Did you watch the movie ? He did shit.
@@dezimal9143 yeah,, nothing
@@dezimal9143 No he did it, but the other guy did it first,
Now, this is what great acting is!! No background music; just dramatic dialogue. This movie never got the attention that it really deserved.
No music... No nudity... Just incredible writing skills and acting
The acting in this movie is off the hook good, and I wish there were more movies in the business drama genre.
Jobs, The social network, wolves of wallstreet, the big short
Glengarry Glen Ross
Boiler room, Glengary Glenn Ross,
@@spacemonster8954 They are a bit more dramatized
Funny to run into a fellow KSU Owl round here! Hooty hoo!\
Imagine getting called in for a 3am meeting only to not say a word, like 2/3 of the people in the room lol
There might still be a vote of some kind if you decide to wind down part of the business. In any case they just have to be present for legal reasons.
@@avae5343 I swear I could watch this scene prolongued for hours. It's so good.
Probably better than being called into a meeting at 3 am and be expected to explain all of this, right?
You know what’s worse? Having to deliver the bad news to the boss of your boss.
and you're not even fell asleep at all! whoaaaa!
My favourite is Ramesh. Tuld doesn't even need to ask him a proper question yet he gives a simple, concise, down to earth answer with great ease. That's a power of legal brain there, sitting at Tuld's left hand. Tuld trusts him. Ramesh has proven himself over many years to sit there. Basically Ramesh is Carmello with a law degree so he makes proper big bucks and gets a big seat at the big table. I wish they had done more with Ramesh - like him holding the elavator switch to stop the FBI getting up to the 29th floor or whatever! Well done Ramesh!
If you read the original script- the genius of how Jeremy Irons phrases his lines and adapts them for maximal effect is made clear- utterly brilliant
"Carmelo"
-"Yes"
"Get me Eric Dale here by 6:30."
-"It's Done."
Favorite part of the scene. Doesn't hesitate, doesn't sigh, no bs, just responds with: "IT'S DONE". I need a Carmelo in my life.
"We are selling to willing buyers at the current fair market price, so that we may survive" I really like this quote, the CEO is trying to sell the story not only to the others but to himself too
He’s just saying that what he is doing is not illegal
He plays by the rules. He was the first to see that these assets are overvalued. He has the right to exploit this arbitrage.
If he's wrong, he'd lose a lot of money. Otherwise he wins.
There's nothing wrong in this meeting.
@@jeskaaable That is the dirty truth that people don't like to recognise. If I sell an asset and somebody buys an asset at a specific value, on a fundamental level, it's because I think the asset's real value is lower, or going to be lower, while the other person thinks its real value is higher, or going to be higher. Otherwise the trade wouldn't happen.
For every trade, it is ultimately a bet of my knowledge and analysis vs the other person's knowledge and analysis, with one winner and one loser. For some reason, people only had a problem with this system when the losses were huge and causing the market to collapse, but that was just the same premise taken to its logical extreme.
I haven't seen the whole movie so i might be wrong, but my take from this clip where Sullivan's boss says he will never sell to those people again and Iron's acknowledges it sounds to me like Irons realizes his job's probably finished either way, because the firm is gonna take a loss, the only question is if the firm survives and he's willing to be the Judas goat to take the blame. The board will hold Irons accountable for something which should have been discovered earlier, even if its not directly his fault. It's the reason he gets paid the big bucks
I always laugh at this line. Like he knows for a fact what he's about to sell has no value and then pulls that line. Evil 😂😂😂😂
What an incredible actor is Jeremy Irons. He IS the banker 😮
7:58 Gotta give props to Remish from legal. As soon as Tuld calls him out he’s ready to answer, short, concise and to the point.
Jeremy irons is just perfect for this role.
he did come across as a bit too "hammy" - but I'll say this - in my experience in the City - he really was like the CEOs I knew. man, they are sociopaths. they really don't understand empathy. They understand "sales emotions".
@@Cryptokat Charismatic CEO’s are often a bit hammy - it’s an act.
I think one of the reasons i like this scene so much is the lack of music, not having music makes the stakes seem way more severe and real.
You don't need music if you have great people being great. Look at " Fail Safe ".
No music makes this scene less distracting. It makes you more focused on the subject. Lets your brain baste in the moment and better appreciate the seriousness of the situation.
Yeah plus the subtle things thrown in. This film respects its audience, unlike that Big Short movie. If you don't understand a term, they expect you to look it up, instead of giving these stupid dumbed down quick explanations.
@@SJ23982398 yes and no. I'm glad I only started watching the movie after I started to read up on stocks, getting familiar with the terms and invested myself in some stuff. Then I watched the movie, and thought hey I mostly understand more or less what they're talking about. Before that the movie would probably have frustrated me.
That's because the music had stopped.
The amused smile that Sam cracks when Irons asks to speak to the analyst is such a relatable feeling! Insane re-watch value.
This is one of the most underrated movies of all time, and this scene is the golden gem. I stumbled upon this movie randomly several years ago, and I can watch it repeatedly and every time I am riveted! Should be mandatory viewing for every US citizen, and especially for anyone in any field of economics or finance.
Honestly this CEO is incredible; He acknowledges his own weaknesses, listens to his people, takes their advice but sticks to his guns when he needs to, and really takes leadership and decision making.
and he brings the whole economy down with it ... to get rid of a get scheme his company introduced in the first place. This depicts an economic Tchernobyl. All those perpetrators should go straight to jail to atone for their sins against humanity.
He's not "incredible", he's evil.
He is willingly putting everyone he's ever done business with in ruin to save his own skin, in a situation he himself created.
People like this CEO shouldn't be looked up to, they should be in prison if not worse.
That’s why it’s fiction.
Despite other replies to your post, I think you hit the nail on the head, so to speak.
Any boss is only as good as the people under him, and good bosses make constant decisions about how to keep the engine firing on all cylinders. Even when a boss has almost a perfect group, he still weeds out the weakness to keep it strong and intact.
So, yes, as a boss, I acknowledge my own weaknesses, I listen to my people, I listen to their advice, and in the end, I am the decision maker, and this is true leadership.
In this clip, the ultra high paid CEO is getting top information from a much lower paid analyst, part of the group that he's assembled and perfected over time.
So, while he may not have the brains to do all the daily work necessary, he does have his wits, guts, and intelligence to keep the team running at its highest quality, and to ultimately consume what's laid out in front of him, then make the big decisions.
A CEO with a huge ego can never be a good leader.
What I find un-credible about the scenario is they didn't know the securities were defective until the last minute. I think reality would be that they knew full well the securities were defective when they created them and sold them to customers who were long on greed and short of understanding.
That 15 seconds of silence signifying the "music stopping" is epic. No overly dramatic background music, no dialog, no special effects, just pure tension.
You could cut the tension with a knife!
I thought he was going to jump for a second
The music is stopping with AMC right now.
Whole film is like that!
My thoughts exactly
"at what cost/ ill have to pay" was legit the part of the film that made it click in my head to stop being so terrified of "what ifs" and thst the best thing to do is to be wise, notice the right opportunity and choices and stick to them regardless of the potential fall out
Phenomenal acting in this film. Irons, Spacey, Bettany, Tucci, Baker and Demi Moore were all simply outstanding
its kinda cool to see all the layers involved here... starts with the brains analytics guy who finds the problem, then the boss directs.. top executives then have to provide solution, sales steps in to weigh in, then legal, and ends with the errands dog on a quest to find a guy. Irons is just amazing here, Spacey is completely overshadowed and he's a great actor as well.
Not going to comment based on comparing this to any real life scenario...I suspect less than 0.0000001% of the public has ever been in a situation from which an accurate comparison could be drawn. But as a movie scene...I agree with you Luis, Irons absolutely owns it.. An acting masterclass by one of the greats.
@@andywade9790 I was just thinking it's perfect dramatic acting, not like the more 'realistic' uncreative style of many performances today.
Iron mask seller or he is a sale representative of the globe company..or just the old boy who sell balloons for couple kids to play by the beach and the solider come or covid19 come ..( the one that left by the beach alone ..have something to do with the mask ( just the simple old lady used for business or for her health?
Spacey's character Sam is overshadowed and his concerns are dismissed by Irons due to rank and power, but Spacey's performance is just as powerful as Irons. They played off each other brilliantly. Their different personalities and philosophies are glaring in this scene.
One thing: the errands dog, as you put it, Carmelo, is likely the head of security. While most people don't think much of this type of person (what does he do except make sure the guards stay by the door, right?), I can tell you from knowing some of these people, they are absolutely the baddest dudes in the room. A lot of them come out of military special ops forces. They pull down huge salaries just for moments like this, and if Irons said the word, Dale would be dead in an apparent "suicide" that wouldn't wind up in any of the papers. Or he would just disappear without a trace.
This and the Big Short is probably my favorite films
Wall Street (1987)
the Big Short has the most stupendous trailer. The Led Zeppelin song that kicks in... I now MUST watch the film, which had better be good
Harry Lagman When the levee breaks, amazing song
Great picks. High rewatch value.
Same here
This meeting is so compelling that it brings back memories of past scary experiences. Great actors.
This is one of those rare movies where every single actor is just top of their game. It's immaculate, and with the equally immaculate Big Short tells you everything you need to know about how we got to that disaster. "Like a golden retriever' it's up there with 'frankly my dear'.
These are the movies we should be streaming on Netflix
They are streaming this on Netflix and a bunch of other good films of the same genre as well (the big short and inside job to name a few)
But surely once everyone knew the Banks are only interested in making money for themselves, the whole market for ‘investment products’ would evaporate? 😆
@@sirloin8745 Borrowing money even with high interest can be beneficial to both the borrower and lender
@@sirloin8745 Simple example- If I lend you 100K and and the end of your repayment period you would have, in total, paid me 200k I could sell that loan to someone for 125k. I get you got your 100k at the terms you agreed to, I got my 25k right now and the buyer gets 75k long term. Now imagine I did that with hundreds of people and sold them as one "investment product".
No, we'd rather watch Wackos with Tigers, or Kissing Booth Part 12.
Jeremy Irons gives a performance unsurpassed in the history of cinema in these 9 minutes IMHO.
Get a grip
@@KoenraadWeiss he may be exaggerating slightly but you've gotta say this was a phenomenal performance
Have u seen there will be blood
Absolutely!!!! Speak to me like a young child, or as a Golden Retriever.
Get real. What about Steven Seagal's performance in Marked for Death??
'You're speaking with me' - hate it when you know someone wants to say something, but they're hesitant because they're not sure if they'll get in trouble - Irons makes it clear here, brilliant acting!
"Do you?"
"DO YOU!?"
Love that part.
“It wasn’t brains that got me here”, “it was cunning and ruthlessness.”
Yeah, love the tacit understanding in the room
@Marcos Rodrigo no you cant
That, a fine English accent and a "I will gut you if you you look at me wrong" attitude
@Marcos Rodrigo pro tip, no one gives a fuck. Fuck you, scumbag spammer.
It is never just ruthlessness. Plenty of people have that. Brains and work is the key. Ruthless helps.
Jeremy Irons is SO GOOD in this scene. Everyone does a great job, but his leadership is above and beyond. A masterclass.
i don’t know why i keep coming back to this clip. i watch this video twice a week
I don't know why but this is some of the best acting in a scene I've ever seen. The camera work catches it perfectly too.
" it wasn't brains that got me here, I can assure you of that ", and then the smile.....Most chilling line ever.
Yves......He is of course lying. He knows full well that he is BY FAR the smartest person in the room!
The smile tells you that the words are all for show
Totally, I also love the impatient motion of his right hand at the same time, suggesting "And do it quickly".
@@thesoultwins72 I think the implication was that he comes from money to begin with. Hence asking for an explanation in layman's terms.
@@thesoultwins72 in technical skill no. But in management skill yes.
I love how the CEO allows a assistant of an assistant to explain the 'problem' in plain English AND walks in line with the thought process without any outbursts. The scene is without a doubt, superb with all acting and seriousness of a boardroom meeting
Honest question...have you been in any boardroom meetings? I haven't and would like to know how accurate something like this scene is.
This movie is a masterclass in acting. No fancy sets, no CGI, just a bunch of people talking to one another.
The background music in this scene is the AC running. and still, it keeps everyone on their toes. Simply, brilliant.
“ You’re speaking with me Mr Sullivan!” And then that look of a cold blooded emotionless killer !!! ,Worth an Oscar for those few seconds alone !
Agreed. And one more when he finds out that eric dale is fired and he stare at peterson for a few seconds like saying "you fucked up so hard". 9:23
And the brief look he gives the two of them. He knows that his management problem is on that side of the table.
Got chills when he said, “…I don’t hear a thing… just… silence…” Jeremy Irons is a legend.
But John was over there silently shitting his pants as Irons sat back down.
This scene baffles me. I can make no logical sense of it. Tuld says that he makes the big bucks because it's his job to know what the music might do in the future. However, it is obvious that he's totally failed at that, and that due to that failure, the firm is about to "get stuck holding the biggest bag of odorous excrement in the history of capitalism."
I cannot conceive that anyone in his position would admit to such a failure.
Yes, the fact that he signed off on the sale of all of the bad assets "so that WE may survive" means that he can be decisive in a moment of crisis, but that by no means excuses the other fact that this failure is totally on him. Granted, we find out later that it will end up that Miss Robertson will be taking the lion's share of the blame.
Moreover, his emphatic comment to Sam that "This is it!" means that it is almost sure that he has suspected something for a while now, but because the firm was making so much money, he could not bring himself to take the kind of action that might have minimized the crisis. Simply put, greed clouded his thinking.
I'll be honest, I'm not into investment banking at all so I only understood about 60% of everything. Nonetheless they really succeeded at still making this movie vastly interesting for me. Obviously the cast is absolutely perfect, but the way scenes are shot, no music no unnecessary drama, it all adds up.
Great movie.