Margin Call - Will Emerson talks about the impending finanical turmoil
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- Опубліковано 20 тра 2017
- Will Emerson talks to Seth Bregman about the effect of impending financial crisis of 2007-08 and how 'ordinary' people will react to it.
From 'Margin Call' (2011)
"Its just gonna suck for awhile, and then youll be fine."
Thats some good advice for younger people :P
good advice for anyone going through shit...especially something like a break up.
Also for older people. Speaking from experience 😊
The guy is a smart, decent looking, young, with his health and coming off with tons of money and the whole world as his oyster, able to forge whatever destiny he wishes. Tons of people would give their left nut to be him, even in the process of being fired.
@@harmenbreedeveld8026 Good point and I can confirm, however I'm pretty sure that young people, having less experience of picking themselves up by their bootstraps, need to hear it more often than we old people do.
@@KrappiTheClown I guess it all depends on the individual. An example of it all working the other way around: there are many older people who have essentially given up on aspects of life. Young people may more often have the advantage of the energy and hope of youth in that respect.
A good example may be climate change: so many older people seem fatalistically resigned to it and essentially just ignore it, while many younger people raise hell and fight for change.
PS You use the expression of pulling oneself up by the bootstraps. I get what you mean by it, and respect for it. Literally, though, pulling oneself up by the bootstraps is impossible. One cannot lift oneself into the air.
Figuratively, this may also help us reflect on the helping hand that we all often need in life, when confronted with real challenges: from friends, from the government, from the stranger in the street. We can do much ourselves, but we can do so much more together.
I wish you a great weekend 😊
I love how Seth almost sounds hopeful when he asks Will if he's gonna get fired too and then he's disappointed when Will tells him he's not 😂
He's looking at it like a personal judgement. If everybody gets fired, nobody screwed up. If some people got fired, the ones who did are at fault. He's wrong, of course, but you think that when you're just out of school.
Seth is the guy who likes to compare… he compares wages, and he compares results.
He's just a naive kid attracted by seemingly gorgeous life of investment bankers. He doesn't possess any valuable skills, he is not prepared to the crisis whatsoever, may be he even took a bunch of loands believing that his financial life was going to get better and better every year. He is that Joe Kennedy's shoeman who finally decided to buy stocks when the marked was about to crash.
This movie has a lot of good lines.
Just realised he's driving over a bridge. When he spoke to Eric Dale about bridges in the film. Nice touch.
I never understood why Dale was talking about the bridge he built, it just never made sense
@@suhasguddeti2375 he did it as a personal counterpoint to his work in the finance industry - managing risk for a product that now is about to completely disappear from a value perspective. Unlike the bridge he built, which continues to make lives better long after he has exited that life.
@@josiah566 Nah, he just wanted to flex his arithmetic skills.
@@suhasguddeti2375the screenwriter thinks that engineers should be paid more than yuppies
@@devonwhite2443 i don’t think so, i think he’s just pointing out the fact they make less, even though they make “more of a difference” in society compared to a trader.
"it's gonna suck for a while and you'll be fine". The financial crisis was in 2008. 15 years ago. How long does a 'while' last. I mean it's been half my life. I'd like to go on a vacation please. Buy a thing. I recall actually working A LOT
Born in the wrong generation, sorry. We get to spend our entire lives paying for the greed of those before us.
where the heck do you live that you can't go on holiday? I work as a caretaker and do it.
I call BS
@@davekuhn85 on what
I love bits of media like this. Movie scenes, book chapters, and short stories with some profound statement about the world that I revisit every few months or years. Each time I've looked at them I get a little more out of them. I assume they have diminishing returns as my opinions get more and more concrete; but I've been revisiting this since I was young teen, and now as a young adult this scene has gotten more and more surreal.
Right now what Emerson says sounds so true, but I think that might just be the cynicism of my youth. Part of me wonders if the real message of this scene is just how far people will go to justify their crimes. But maybe that's me just trying to be a contrarian. See, this is why I love media like this. It can force some tough introspective questions on you beyond what is directly stated in the media itself.
Big ups
He is trying to justify himself but also people want to live above their means and they get fucked for it. I remember when we lost our house in 08 and my parents crucified the banks and I agreed with them. Now looking back I'm just surprised that my parents who made a combined 6 figure salary bought a 850000$ house. For what they couldn't afford it why did they get it.
@@baitedlol3315
Taking your parent example... did the bank come to your home, pointed a gun to yours parents and forced them to borrow money ?? im not attacking you, but im kinda sick of the constant deresponsabilisation people like put on themself and start to call Banker names
@@Ludo045 well, isn't he actually admitting it was also his parents' fault?
@@Ludo045 I agree with Joseph. He admitted that his parents took a loan (800k) which wasn't responsible at that time.
There is a lot to be blaimed in that situation. I am from the Netherlands, so we have a social back up when shit hits the fan. Meaning you are going to get full aid from the government when you lose your job.
In the States though. When winner takes all mentality rules. That is when you have a perfect stage for a circus in my opinion
"Nah they're all fucked". What a line. Perfectly describes humans in the current day.
Exactly, this all screwed....maybe going to WW3
There's another clip of this scene where they leave that line off. It's like dialogue blue balls when I accidentally get that version.
when The Vision says you're fucked then you definitely are.
Emerson's speech here about the hand on the scale and the world getting fair really hit me hard the first time I saw this movie. He's referring here to the way these firms levered up and accepted extreme tail risk so they could gather and repackage all of the garbage loans the banks were making to sell them off as 'bonds'. The housing boom of the 2000s was facilitated by an expansion of subprime lending which was in turn facilitated by these firms and their clever MBS packaging which was in turn encouraged by the Bush administration and made possible by deregulation of the i-banking sector. It was a brilliant plan, they just didn't think it through to the ultimate conclusion. A good idea pushed too far becomes a bad idea. People wanted these homes, and the system made it possible. For a while, at least. Emerson's little speech seems somewhat shallow, but it is profoundly critical of all of us.
Is the same thing happening now?
@@Rawlingm Not even close. We won't have a crisis caused in the same way by the same actions for a century. The next crisis will have to be something different. Just like generals, regulators are always fighting the previous war.
That’s not what he meant when he said “hand on scale” at all. What he meant was that people live way beyond their means and to do that they use debt and credit. It was the Clinton administration to gain votes encouraged banks to lend to certain sections of society - whom were deemed poor credit (low credit scores etc). This became NINJA loans (No Income No Job Americans) with no certification or verification needed to access credit. Politicians then could use this to gain votes by stating they had taken on the banks and now you could get a loan. All of these loans were then securitised and the rating companies gave then high ratings so pensions funds hungry for yield would buy them (the big short movie). Now banks had a way to move these shitty loans of their books and property prices started to rise as every moron on TV was pitching flipping houses etc and everyone seemed the be winning. Homeowners, banks, the economy… but this idea got pushed way too far as more and more people entered who really couldn’t afford their homes, cars, cc loans and the wheels started to come off. Add unscrupulous landlords and housing companies due to zero or poor regulation and you have the American property market. So what Will states here is that people at the time happily lied on their loan applications and banks and credit agencies facilitated it and that if the world got fair with a max leverage set at 3x earnings etc - lots of people couldn’t own a home or live beyond their means. As rates go up now and rates reset - all auto loans, etc will all go up and the world will get “real fucking fair”. At the end of the day as an adult - if you inflate your income and live beyond your means - that was your call. Nice while it lasts but if the merry go round stops - you can’t just blame banks - you have a level of personal accountability. The whole housing market around t the world has been inflated like this as governments have sought to offset the outsourcing of industry to China with property that goes up. As long as house prices go up - we feel rich on paper and keep spending. So politicians as usual feather their own nest but do fuck all for people through education, investment in industry etc. Covid showed China just used their industry as we sat at home and bought shit on Amazon which was all manufactured in China- they made money and we started to pay with inflation. We didn’t as we just added to the debt burden….. and it will get much worse as rates reset.
They went to 1% on the Fed Funds, had two administrations push cheap credit (ring a bell?) to people who frankly were not part of a real economy but part of a bubble, and their incomes were based on low interest rates, and asset prices in 2003, 04, 05 reflected the cheap credit expansion, but as they tightened the adjustable rate portion of the credit market capitulated causing a crisis in 2006/7 and culminating in shit hitting the fan in 2008. People saw it happening in real time but did not want to actually internalize that this was a sign of a larger problem in the US economy. It is precisely what has occured now, in the wake of that crisis. Dot com popping gets the FOMC to dump rates and QE a bit, then 08 popping causes the post-GFC QE which we were trying to exit in 2019 unsuccessfully, and Covid gave the cover for the largest QE in history, which is now in the exit phase, and soon we will have the greatest financial crisis in US history, as everybody who is determined to go back to zero get their wish, but not without revealing the fragility of the system and the American individual consumer. We need ZIRP, is what they'll decry, but they'll all fail to realize that printing money and distributing it all over the world is about to start shrinking the audience of willing participants to this inflationary episode, which has not even started. YOU CAN'T PRINT MONEY. DON'T EVER THINK YOU CAN PRINT MONEY.
@@daft9inety6ixer57 If you want to have the world's reserve currency, you have to print enough dollars to denominate global trade. We need to print it, trillions of it, otherwise global growth grinds to a halt and the whole system goes into a deflationary spiral and depression. If you want a new system where this isn't necessary then design one and give the world 100 years to slowly transition to it. Until then, printing dollars is what holds everything together. If you want the grid to go down and a 30 year depression giving all of us a Mad Max kind of lifestyle, then keep spreading this nonsense. Get enough people on board, and you can cause the apocalypse. Good luck!
Calmest wind on the Bridge I've ever seen haha. Great scene anyway
ikrrrr
Vision spitting reality in this universe
No, it's Gladiator's imaginary friend, not Vision.
@@alcoholic2652 no, it’s Heath Ledger’s naked friend.
Wicked scene absolutely baller scene, a lot of depth in the lil speech
It’s 4 am. In a few hours, I’ll drag myself out of bed just to go to my BS job. I’ll be bored out of my mind, but ill have a slightly different mindset as I prepare my manager’s coffee with two creams and one sugar. I’m necessary. Thank you, Will.
Change your life
"This is really gonna effect people." Seth realizes that the market crash will affect people only because he's getting fired. All other times, prior to this moment, he was a complete Jerk and insensitive to the feelings of others. People were just numbers. And now you are one of the numbers.
We all are
Seth himself was always disposable though lol. The entire movie you could tell he was the only one in the rooms who couldn't hold his weight & was likely there bc of legacy connections in a college frat or something; dude seems like he's clueless & out of his element with anything above analyst level. The scene where he's crying in the bathroom sealed it for me lol
@@KevinJohnson-cv2no same. If I was in his situation I would already be preparing not crying, after knowing what’s about to happen to me. Meritocracy is great and it’s not till shit hits the fan that most are forced to confront their value and accept it.
@@KevinJohnson-cv2no well but i guess that even though he is being fired, the amount of money he has already earned probably can sustain him for like half a century. If he got some minimum wage job afterwards(which is unlikely, as he have some skills from a big firm), he could still live a good and relaxing life. So it's not really a bad thing for him I guess
@@dhaqabk4022 Meritocracy, as of the present, is a myth. We do not live in a meritocracy.
Jeremy Irons and Paul Bettany are masters at their craft.
Also the rocket scientist and the emotionless number 2 ( Didn't want to look up their names. )
Will has a point. When it comes down to it, nobody wants things to be fair.
Oh, we all want it fair ... for the other guy. First ourselves? Then we welcome a fair amount of unfairness that favor us. Few people are Saints when it's not to their advantage to be one (but, some so have that moral fortitude!).
Big overgeneralization. Tribal societies are entirely based on equity and sharing. Selfishness came about when cities got so big that you interact mostly with strangers whose wellbeing you don't care about.
@@busTedOaS by fairness I’m talking about equality, which nobody definitely wants. Even tribal societies have hierarchies.
@@maxsch8454 That is not the kind of fairness Will is talking about here. People don't suddenly become equal when banks go belly up. It equalizes the rules of the game, not the outcome.
@@maxsch8454 And yes, tribal people also compete, but even the best hunter cannot survive alone if he can't build a house or preserve food for winter. They are much more dependent on another than they are in competition. This is not true anymore because we have a single hierarchy of monetary wealth. Once you are rich, you don't need to build relationships, you can simply pay for anything you need.
Before Emerson leaves to drive to go to Brooklyn Heights to find Eric, he says " I hate Brooklyn". Paul Bettany, the actor who plays Emerson, actually lives in Brooklyn Heights.
😂
And he also hates Brooklyn
You couldn’t pay me enough, to live anywhere in NYC
The people who say you couldn't pay me enough to live in NYC could never afford to live there in the first place 😂
It's a city that welcomes the highest achievers and also attracts the bottom feeders. An ironic conundrum most couldn't hack but if you can, the payoff is very rewarding.
Most people hate the big city they have to live in but stay there anyway as there are no high qualification jobs in the middle of nowhere.
From one perspective, he's right. His job was valued because people wanted more than they could afford from their jobs and while the market was going well, that didn't matter. The fact is that everyone who participated was somewhat in the wrong. However, I don't think the investors could be expected to know better. A big part of humanity is accepting you can't be good at everything. People specialize. Because of the multiplicative effects of finance, people who specialize in finance have certain advantages that people who specialize in other areas do not have. Normal people also do not understand fully the stock/housing market, the value/cost of money, budgeting, etc. They don't really think about money until it's gone. The American education system could really benefit from more financial education in mandatory education.
I think both sides are shifting blame onto one another. The average Joe pretends like he has zero responsibility to ensure our financial system works properly, and most Americans never save even though they can and a recession is always on the horizon, history proves this.
But investors knowingly do things to the economy that is harmful, but always figure out some way to rationalize and shift the blame so that it's ok for them to hurt others.
As an urban planner, I find the implication that finance types understand the housing market, to be quite hilarious.
it's not just that. "normal people" were buying homes they knew in their heart-of-hearts they couldn't afford. they were buying property at zero money down and bad credit; and THEN got to keep their property post meltdown, while profiting heavily after the dust cleared
this is why Will says 'fck normal people' even if they didn't know what was happening behind the curtain. they practiced their own dishonesty AND got away with it. in his eyes, they're just as culpable and immoral. these people disparaged wall street AND kept the product they should have realistically given back
think about it; this could not happen in a poor third world country. this is why Will rants about normal people living like kings. he knows what the world is like outside of his greedy capitalistic economic bubble
Please, it's just rationalisation. These people are vermin playing dice with peoples' mortgages and savings.
People don't benefit in any way from casino banking. Only the casino bankers do.
@@nvelsen1975 More so that they understood how to take advantage of it to get themselves rich, but at the cost of everyone and everything beneath them.
They're not wearing seatbelts.
Might be intentional. Will was considering jumping off a building. I don't think a seat belt would phase him.
They were also out the night before partying taking drugs and alcohol and had zero sleep. So yeah seatbelts are the last priority
They are not driving. The car is on a flat bed. This Aston Martin rides low, but they're as high as vans and pickup trucks
they felt like their world was crumbling so they prob didn’t care
Seat belts are not mandatory in all states in the USA
And the whole world now is getting really fucking fair really fucking quickly.
Underrated scene/speech.
Can't be underrated as no movie scenes or speeches get rated.
@@dapred00 Hahahaha!
This is the most insightful scene of the entire movie
Wouldn’t it be great to go back to this time knowing what you know now ?!?
History repeats itself. This will happen again, and again and again.
In this kind of work, learn a lot, work hard, save a lot. Have exit strategy. When you leave, don’t need packing box. Just walk out the door. 😊
Exactly!.. Especially with quarter commissions most reg people don't see until 5 years of employment to retirement and that's ifff they have a good career. And you still make more. Even if your taxed heavily on a million that's sick amount of money.
I was still young boys living from my parents money when this movie came out.
And this scene right here hit my adult life even harder lol
Dang you were plural when you were young? Are you singular now?
Bill Burr as a banker
Its amazing how people don't give a fuck about how their everyday consumerism drives everything around them. They just go to cry when things are not as per their own convenience
It's that tiny "finger on the scale" remark. Perfectly sums up what I've always suspected.
Yeah, and it was Will Emerson who fired him lmfao. That’s how the game works.
The speech about ordinary people getting greedy, spending irresponsibly above their possibilities and blaming on capitalism after, is one of the best explanations of the 2008 crisis. Is like the one on The Big Short about strippers buying several houses.
we have the same or worst happening today but today the biggest losses wont be on banks but on mortgage equity values, making the bank clients burn and lose all their fortune wealth and equity on the way, leaving almost nothing to their own kids. people buy houses as a status symbol. women like it. and men are fools for women. the generational wealth transfer will be amazing to watch especially from my own millenial eyes.
Rightttt it had nothing to do with banks giving out loans they know people can’t afford, excessive deregulation that allowed any of this to happen, the banks creating tradable assets based on said mortgages that couldn’t be paid, or the synthetic CDOs that compounded the damage from the crisis. I’m not saying ordinary people were at no fault but they are the last people to blame after the banks (who got bailouts even though they were supposed to be the “experts”) and the government. The dude in the clip, Will, is coping that’s part of why he’s saying you gotta believe you’re essential cuz you’re not and it helps mentally. A lot of people who werent greedy still got wrecked by the recession. But yea it’s the ordinary people totally and the teachers oh and the immigrants also
e @thisIsFunnyLolz I like his take. I'd say it's not that he does not think the banks were responsible, it's just that it does not need to be said for the millionth time. I think it is important to point out that the only way banks were able to give out loans people couldn't afford was that people had applied for the loans they couldnt afford.
This movie is a masterpiece
"The only reason that they all get to continue living like kings is because we've got our fingers on the scale in their favor"
What's on the other end of the scale?
The unaware
@@joe92 Personally I think it's people who are responsible and live within their means. They're the ones who always get taxed to bail out the banks/stonks and the fools who lived lavishly on debt.
If you imagine a scale and on one side it’s the people who loan the money and on the other side is the people taking the money. Taking out a mortgage you can barely afford no one‘s really gonna wanna give you cash because there’s a great chance you might default, they are pushing down the scales to not give you money to where you have to live within your means, he is tipping the scale in your favor allowing you to take out that mortgage so you can live the lifestyle of your dreams, but as we see it eventually comes crashing down.
@@asonofliberty3662 "live the lifestyle of your dreams" As in living a life of excess far beyond what you can realistically afford. My point stands.
@@nonyafkinbznes1420 Life is not nearly that simple.
Damn its so true
People want things they cant afford thats why this exists
You get the big salary from the fancy job you worked so hard to get, then you go out and blow it all on a lifestyle you can only afford by living hand-to-mouth. Then when the job evaporates, your lifestyle and sense of self-worth goes up in smoke with it. Salary is an addiction, and that is what keeps you working.
The only reason they get to live as they do. Is because growth always comes. Does it?
Those two are the only ones in a film who didn't had ambitions outside of the financial world. Sallivan, Dale and Spasey all did smth before they got in, Will never was anything but a trader. It's a very important scene, but only in a context of the movie. But it's good on it's own.
A lot of people, and even some countries never recovered from 2008.
This is where Joe Goldberg became a librarian
🤣
I just realized, that’s the dude from “You”
As an investment banker I find this profound. The average man in the first world has no idea of the workings of the financial markets and how they enable a world where 1/8's of the world's population earn and consume 50 times that of the other 7/8s. The impact of the internet and container shipping is reducing this effect so that the workers in the developing world are able to compete in first world markets. As such the bottom 10% of the first world are starting to feel the pinch and asking for income redistribution on the basis of fairness. The reality is what they are demanding is that money be redistributed from the top 5% to the top 15% of the world's richest people. They also believe that the reason they are having problems in heating and eating is that the rich have taken their money. They do not realise that they earn 25-50 times that of a man doing the same job in a developing country and hence their job has no bargaining power.
JP in 2022
Goddamn this was a well written movie.
This is going to affect people.......I mean real people
He forgot the third option... keep the investments, have them tank, and have good old Uncle Sam bail you the hell out!
Well thats because you don't know how a bail out works. Despite the memes it's not free money alot of corporate restructuring goes into a bail out all with pretty painful government oversight. The only ones who get away pain free are the owners. It's the employees who all have to suffer during the restructuring wondering if they will have a job because that's when you see massive layoffs. Anytime a bail out happens it's very painful for all.
This is what Jarvis did before he got a job with Tony
Different Jarvis though. :)
They did such a good job getting the average person to feel sorry for the people who ruined millions of lives.
i always wonder how they film in car scenes these days. Are they actually driving out in the wild? or is it in some studio warehouse with projectors and a car compatible treadmill?
Car is fixed on a low flatbed truck driving
they are in a studio, there is no way the cigarette smoke would just linger like that in a moving car with its roof open
They're almost never driving, the car is usually being towed. They also can do it in a studio. It's usually pretty obvious which one it is. Just watch the background.
Is that an electric Aston Martin back in 2008...silence😆😆
It's sitting on the back of a flatbed.
@@London755 Not only that but likely the sound is cleaned up of all wind/noise etc and then the ambient traffic added in post
in the other scenes you can hear the V12 lol
A shame we can't hear the humming of the V12...
I don’t understand, seth was in the midnight meetings he showed he cared so why was he fired? Was it cause he had no special skill?
Seth is a metaphor for the common people in the context of the meltdown.
The movie made it clear Seth was the only one who couldn't really hold his weight. He seemed largely clueless & out of his element most of the time lol
As he explained, he was new and low in seniority. He also did not stand out like the guy who assessed the model and was a rocket scientist. They ultimately purged most of the floor. He likely can find a new job in finance if he tries and markets himself well.
He works in risk management, helping the firm layer their MBS securities. The firm is getting out of MBS entirely, having a fire sale that morning. His entire department is redundant. Seth is toast. All the dudes that were partying with Will at the nightclub the night before? Also fired. Shit, even their boss's boss, Sarah, got the axe. Peter is the sole survivor.
He isn't needed. But also you want to keep the people who know what is going to happen around, so they do not get to have any smart ideas of showing the hand to anyone.
"Nah, they're all fucked"
🤣
Some of Bill Burr's best work.
You as my Betreuer ! I
Ist's an Specialy Agreement
vision and diet superman
Very well dressed
What if they were wrong, could the company have survived?
Even without looking back to 2008, do you think that there was no hint to impending financial crisis?
@@newera478 There are always hints to impending financial crisis. They just rarely come true.
hard to say. Some symptoms of a total collapse can linger for years before the final stroke hits.
Its impossible to isolate the date even down to a year, let alone the month or quarter.
Let's face it, street prostitutes had 6 houses for years before the entire thing went down the drain. Thats a symptom, not the problem. Even if you can identify the problem - before that actually hits the deck, you may be 3 years into the future.
Same thing right now. Every body knew back in 2020 - its gonna be inflation and its going to be big inflation. That will raise rates and that usually crashes the market. But well... i mean, I thought that would all go down in 2022 at latest and here we are with the market still dancing to music that no longer plays.
Its going to happen exactly when the majoirty thinks it doesnt happen, because thats when they can get shocked and when fear can strike the hardest. But a few things we do know:
1. The market crashes about ever 8-12 years (last REAL crash was '08)
2. The market usually crashes 9-12 months after rising interest rates
So it should be any minute now by that theory. And lookie-here... banks are dying, new-tech companies cant finance themselves properly anymore. All the signs are on the wall man. Any minute now.
But, could very well take another few months or maybe even a full year. The market does not want to crash because they all wanna dance with blindfolds on. The moment the music stops, the majority keeps dancing as individuals remove their blind folds slowly one by one as the realization sets in the party was over hours ago and nobody wants to clean up the spilled beer.
@Captain_Cinnamon
Just want to say I enjoyed your writing style. Don't know if I would agree with everything, but it was quite compelling.
@@SWProductions100 thank you
Will is right. We all want to have a cake and eat it but dont want to clean the poop afterwards.
Tf? It's a poop cake?😮
1:28
Theyre only driving like 15mph right here
1:26 #reelyfuknquickly 1:43
You havent even been showing up to work, and you get to keep your job!
Actually, Im being promoted.
WHAT?
Dudes hair isnt even blowing with the top down haha
You want hate to hate Will, to despise him, but once the dust has settled and hopefully you have an ounce of wisdom, you'll realize that it's your fault too, that is,if you bought into the system
No one ever bothers to stop and think because it just seems really good, until it turns into too good to be true, and by then it's already too late.
The hypocrisy is that when shit hits the fan, the average joe becomes quickly chummy with his own ignorance in an attempt to absolve himself from his own responsibility.
Paul is god
I wonder were all these real people are.
"Nah, they're all fucked" is a really good scene which shows the total cynicism on Wall Street - well, the system, actually. Smart humans leeching of the rest of us - is this what we really want?
Jarvis....
who's that?!
@@TENNSUMITSUMA
www.google.com/search?q=Paul+Bettany+Jarvis&newwindow=1&client=firefox-b-d&biw=1536&bih=739&sxsrf=APwXEdca4pbNjYXln4NGZKSJnMHUbpYVqA%3A1683363105253&ei=IRVWZJaKD6eV9u8P3aKgqA0&ved=0ahUKEwjWnqqfqOD-AhWniv0HHV0RCNUQ4dUDCA4&uact=5&oq=Paul+Bettany+Jarvis&gs_lcp=Cgxnd3Mtd2l6LXNlcnAQAzIFCAAQgAQyCAgAEIAEEMsBMggIABCABBDLATIICAAQgAQQywEyBggAEBYQHjIGCAAQFhAeMgYIABAWEB46CggAEEcQ1gQQsAM6CggAEIoFELADEEM6DwguEIoFEMgDELADEEMYAToSCC4QigUQ1AIQyAMQsAMQQxgBOgcIABCKBRBDOgUILhCABDoICC4QgAQQywFKBAhBGABQmQVYrRtgjB5oAnABeACAAW-IAfAFkgEDNy4xmAEAoAEByAESwAEB2gEGCAEQARgI&sclient=gws-wiz-serp
They don't care.
After he gets fired, Seth changes his name and becomes a serial killer.
I love the line. The public loves to make these guys as the bad guys but to be honest, they are just doing what we are doing. Living the American Dream and trying to advance their own life, just like us. It makes you realize they are also just cogs in the machine, and they are in fact real people.
it's not just that. the working class also had a hand in the financial meltdown taking out loans they couldn't afford to pay themselves. maybe these financial instruments should not have been offered in the first place, and putting unaffordable homes on an accessible silver platter might have been ethically wrong, but on the other hand, risking your livelihood/literal life savings on something that's in your heart-of-hearts was too good to be true, you probably have some culpability in the the broader dabacle
i actually know a handful of people who kept their homes after filing bankruptcy in 2008, and are in a position to cash out WAAAAY over what they paid for it
this is why Will says fck these people. they don't get to claim innocence for participating AND benefiting
@@xblindx Well fucking said.
Well, considering the average American's lifetime carbon emissions are enough to drive one Nigerian or Indian person out of the region they live in when climate change makes those countries functionally uninhabitable, maybe living the American dream should make us the bad guys.
@@xblindx This is just total nonsense.
House prices have soared, in part, due to these vultures deliberately and falsely inflating the housing market (so that they can play dice with that increased value. The vast majority of people aren't buying fucking mansions, they're buying regular homes which they should be able to afford. And they weren't informed their mortgages would be used to gamble with. People used banks expecting them to be banks, not casinos.
These guys are vermin rationalising their crimes.
Yeah, that’s right, blame the working middle class people pushed into buying homes they couldn’t afford and not the powerful rich pieces of shit who lied and schemed their way to maximum profits. The people at the very top got golden parachutes for stealing billions and the people at the bottom got foreclosed on and kicked out into the streets with their kids and spouses; how the fuck are they the same in this scenario? Do you know of any other job that rewards greed and incompetence? Because I don’t.
Greed is Good but Karma is a Bitch
That's how joe goldberg became a stalker
it would be funny if it wasnt true!
All these no name people thinking they are hot but just disappear like the janitor, having contributed less than the janitor.
Why would Seth get fired?
Seems almost unrealistic. As a Junior analyst in their Risk department, where Peter found the discovery of their collapse, AND they already let go of Eric Dale, its very improbable that an analyst gets let go even if the Firm is jumping ship. It makes sense to cut all the Traders like they did but it doesn't make sense to cut out Seth from continue working.
Seems like the story just defer to the whole storyline of "juniors being the first to let go" but realistically, Seth should be staying onboard to work with Peter, especially if they didn't intend on bringing Eric back.
They wouldn't bring Eric back: He's old, and overpaid in comparison to his remaining value, and already resents being let go, which means he'd have no sense of loyalty to the firm, and no inertia to overcome in looking for other options. On top of that, he found _most_ of the problem, but never quite put it together, whereas Peter did.
Peter is young, and paid less, just showed impressive evidence of major smarts and insight and initiative and late-working industriousness. Someone like that is likely to get smarter while remaining comparatively inexpensive.
Seth was just there. Sure, _maybe_ he's a hidden genius who'll flower later on, but there's no evidence of that just yet. Peter already has evidence "on the books."
So they'd keep Eric gone. They'd let Seth go because they're cutting as many jobs as they can manage to cut while remaining in business. But they'd consider keeping Peter since he shows potential, and yet is inexpensive in comparison to people who've been around longer.
When companies are about to enter a period of strife, the easiest cost to cut is always young employees as the employee benefit payouts are much lower compared to older employees
Peter Sullivan is getting a promotion, probably doing Eric Dale's job. They paid a lot of the money to Eric Dale mostly to keep him from talking to their competitors (that's the reason for the scramble to find him all night). The company needs to cut cost, so most of the junior member of the company are fire.
They know they are entering lean times. The bubble is over, the time of free money is over. Remove as many people as you can from payroll. You can hire new desperate graduates in couple years when things pick up again. Seth isn't needed. Emerson is a guy without the morals who make things happen. A talent you keep and probably use to next get deals with bottom prices.
WTF is with Paul Bettany's accent? In certain parts of the movie he speaks with his normal accent. Then in other parts of the movie he speaks like a British guy doing a really bad NY accent.
My interpretation: He is sales guy with incredible knack for social interaction. He adapts down to the accent. Like when he calls Eric's wife and in fire sale calls. And that's why he kept his job. And Sam too. There is money to made coming out of that mess, and they are gonna need some good sales people, because business is buying and selling. Yes, I've seen this movie too many times 🙂
Realized after watching this many times he is driving a Cadillac and not a Lexus. This man is reckless with money, losing the value of his speech.
It's an Aston Martin.
I mean, yeah. When he puts it this way. I guess it is alright to sell assault rifles to african child soldiers!
Willing buyers!
@@AuroraTheArcticMermaid At the current market price!
It's gaslighting.
Guys who think hes correct and justified in his beliefs make about 30,000 a year and dont know how money works.
Yeah, but they believe that they're earning that 30k because they think they're necessary
So enlighten them, how does money work bucko? or is your only critique the pockets of other men.
And you know how money works and think he is wrong genius?
That will guy isn’t a sociopath. He’s a psychopath. He actually believed the shit spewing out of his mouth.
He’s right though.....
I refuse to believe anyone honestly believes when they take a 100% mortgage on a house worth 8+ years of their total household income that they can afford it yet millions of people jumped and still jump at those offers and then wonder why they struggle to pay and then default.
He's neither. He's the ultimate realist. AND accurate.
People put money into a "Retirement Plan" and a "Pension". Where do they think that money comes from? "Retirement Plan" and "Home Equity Loans" and "Pensions" aren't these magic 'boxes' you just put money in, and more money comes out.
We as Asset Managers are the ones that MAKE SURE more money comes out, so your dad can have a retirement.
@@squidssential it doesnt make sense though. He is acting like he helped people live the life they wanted, but they created a unsustainable system and those people that he "helped" got fucked and are out in the streets. After all is said and done those people are worse of than before and he is better of. People like him are not necessary.
@@dans8927 So, now you're now justifying excessive leveraging, selling worthless securities and fraud then blaming it to ordinary people who were led to believe that their money were invested in sensible financial products or investments? So many funds barely have any returns or even worse, negative returns and yet you're "making sure" more money comes out, eh? You almost make it sound like a charitable work and not for fees. Lol