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These are the user uploaded subtitles that are being translated: 1 00:00:03,063 --> 00:00:06,562 ♪ (SUSPENSEFUL MUSIC PLAYING) ♪ 2 00:00:06,563 --> 00:00:08,162 BILL ADLER: You seen Pierpoint's stock price? 3 00:00:08,163 --> 00:00:09,442 You had a drink yet? 4 00:00:09,443 --> 00:00:12,002 The stock's fucking halved, would you blame me? 5 00:00:12,003 --> 00:00:14,042 It was like Omaha Beach on the floor today. 6 00:00:14,043 --> 00:00:15,122 (SIRENS WAILING) 7 00:00:15,123 --> 00:00:16,802 ERIC TAO: They're serving Prosecco. 8 00:00:16,803 --> 00:00:18,082 ADLER: Can't afford champagne. 9 00:00:18,083 --> 00:00:19,682 ERIC: It screams sell signal, no doubt. 10 00:00:19,683 --> 00:00:22,042 ADLER: Yeah, I need you to come to the 13th floor immediately. 11 00:00:22,043 --> 00:00:23,643 (INDISTINCT CHATTER) 12 00:00:33,283 --> 00:00:36,242 Hey, hey, why the fuck did they not cancel this party? 13 00:00:36,243 --> 00:00:37,643 It's too late. You've got a... 14 00:00:37,644 --> 00:00:40,562 I haven't seen a day this bloody since '08. 15 00:00:40,563 --> 00:00:42,442 - ERIC: Don't go home. - Yeah, it's worse there. 16 00:00:42,443 --> 00:00:43,882 - Don't worry. - Don't go to the party. 17 00:00:43,883 --> 00:00:45,202 Whatever's left on the desk's books, 18 00:00:45,203 --> 00:00:46,402 however you're axed, 19 00:00:46,403 --> 00:00:49,082 long, short, any product, get rid of it now. 20 00:00:49,083 --> 00:00:51,682 We've got one hour of U.S. trading left 21 00:00:51,683 --> 00:00:53,042 and you need to trade Asia. 22 00:00:53,043 --> 00:00:55,362 People might not be trading with us come morning. 23 00:00:55,363 --> 00:00:58,043 Book any profit. Take any loss. 24 00:00:58,683 --> 00:00:59,733 Clean house. 25 00:01:00,683 --> 00:01:02,723 Hey, uh, what's going on? 26 00:01:04,243 --> 00:01:05,403 The bell's tolling. 27 00:01:11,963 --> 00:01:13,682 ♪ (TENSE MUSIC PLAYING) ♪ 28 00:01:13,683 --> 00:01:14,762 How bad is it? 29 00:01:14,763 --> 00:01:16,522 We'll be talking about Pierpoint's stock price 30 00:01:16,523 --> 00:01:17,762 in cents, not dollars soon. 31 00:01:17,763 --> 00:01:19,922 The debt we issued to fund the ESG pivot has matured, 32 00:01:19,923 --> 00:01:21,602 and our creditors are banging down our door 33 00:01:21,603 --> 00:01:22,642 for money that isn't there. 34 00:01:22,643 --> 00:01:24,442 How close are we to declaring bankruptcy? 35 00:01:24,443 --> 00:01:26,842 Hours. The counsel in this room are working avenues 36 00:01:26,843 --> 00:01:28,922 for a capital injection to buy us a stay of execution. 37 00:01:28,923 --> 00:01:30,282 TOM WOLSEY: That price is low- 38 00:01:30,283 --> 00:01:31,882 (INDISTINCT CHATTER) 39 00:01:31,883 --> 00:01:33,602 WILHELMINA FASSBINDER: I haven't seen price action 40 00:01:33,603 --> 00:01:34,922 this aggressive since Lehman Brothers. 41 00:01:34,923 --> 00:01:36,282 Excuse me. 42 00:01:36,283 --> 00:01:39,563 He's about to come on. Tom! He's about to come on. 43 00:01:44,843 --> 00:01:46,442 (CALL TONE CHIMES) 44 00:01:46,443 --> 00:01:49,002 U.S. OPERATOR: (OVER SPEAKER) You have the assistant secretary. 45 00:01:49,003 --> 00:01:50,402 GRAHAM STEELE: Graham Steele speaking. 46 00:01:50,403 --> 00:01:52,882 This is Tom Wolsey in dreary London. 47 00:01:52,883 --> 00:01:56,322 I'm told Wilhelmina brought you up to speed last night. 48 00:01:56,323 --> 00:01:58,962 GRAHAM: Yeah, listen, I've reviewed your situation. 49 00:01:58,963 --> 00:02:00,642 It looks like you've positioned yourself 50 00:02:00,643 --> 00:02:04,762 as lender, buyer, and seller, like J.P. Morgan with WeWork. 51 00:02:04,763 --> 00:02:06,643 Yeah, a one-stop shop. 52 00:02:06,644 --> 00:02:08,682 GRAHAM: And you didn't think 53 00:02:08,683 --> 00:02:10,673 this was inappropriately high-risk? 54 00:02:11,603 --> 00:02:14,522 And incestuous. Yep. For the record, I think it was. 55 00:02:14,523 --> 00:02:17,123 We- We liked the risk-reward. 56 00:02:17,763 --> 00:02:20,042 In hindsight, not so much. 57 00:02:20,043 --> 00:02:22,362 We're looking for an emergency cash injection 58 00:02:22,363 --> 00:02:24,722 of around 15 billion dollars in short order 59 00:02:24,723 --> 00:02:28,202 to plug the hole and give us a chance to restructure. 60 00:02:28,203 --> 00:02:32,602 Uh, our current share price is 45 dollars. 61 00:02:32,603 --> 00:02:36,242 It's now 8:00 p.m., U.K., Thursday night. 62 00:02:36,243 --> 00:02:40,162 We need to resolve this before the U.S. markets open on Friday, 63 00:02:40,163 --> 00:02:41,643 2:30 p.m., U.K. 64 00:02:44,603 --> 00:02:45,922 GRAHAM: Okay. 65 00:02:45,923 --> 00:02:47,002 I don't have the reach 66 00:02:47,003 --> 00:02:48,842 or, frankly, the influence to advise here. 67 00:02:48,843 --> 00:02:51,962 - (EXECUTIVES MURMURING) - You're assistant secretary 68 00:02:51,963 --> 00:02:55,122 of the Treasury for Financial Institutions, Graham. 69 00:02:55,123 --> 00:02:57,482 If you don't have the authority to do your job, 70 00:02:57,483 --> 00:02:59,243 I want to speak to someone who can. 71 00:02:59,244 --> 00:03:03,162 GRAHAM: (SIGHS) I'm gonna pull the treasury secretary 72 00:03:03,163 --> 00:03:04,803 out of her 3:00 p.m., okay? 73 00:03:06,203 --> 00:03:08,042 (CALL TONE CHIMES) 74 00:03:08,043 --> 00:03:10,162 WOLSEY: Can you get me at least two more packs of this? 75 00:03:10,163 --> 00:03:11,762 If I run out, I'll have to light up, 76 00:03:11,763 --> 00:03:13,882 then it'll all get a bit too Glengarry in here. 77 00:03:13,883 --> 00:03:15,923 (INDISTINCT CHATTER) 78 00:03:16,603 --> 00:03:17,743 (INAUDIBLE MOUTHING) 79 00:03:20,194 --> 00:03:24,562 The head of sales should be at the 150th party. 80 00:03:24,563 --> 00:03:25,642 Keep up appearances. 81 00:03:25,643 --> 00:03:27,873 Trying to contain the issue to this room is- 82 00:03:28,123 --> 00:03:29,203 It's a fool's errand. 83 00:03:30,083 --> 00:03:31,682 You okay? 84 00:03:31,683 --> 00:03:34,082 Yeah, just a little... a foggy head. 85 00:03:34,083 --> 00:03:35,682 EXECUTIVE: Ugh, it's a little late 86 00:03:35,683 --> 00:03:37,082 for a fireside chat. 87 00:03:37,083 --> 00:03:38,682 I can stay. 88 00:03:38,683 --> 00:03:41,482 Our voice combined is a voice which speaks with the authority 89 00:03:41,483 --> 00:03:42,922 of half a century in this firm. 90 00:03:42,923 --> 00:03:44,122 This is an existential moment. 91 00:03:44,123 --> 00:03:45,762 There are multiple possible outcomes. 92 00:03:45,763 --> 00:03:48,442 So, let's not let them sell our soul 93 00:03:48,443 --> 00:03:50,643 just because there's a gun to our temple. 94 00:03:55,843 --> 00:03:58,202 ADLER: Julian? Yeah, would you excuse us? 95 00:03:58,203 --> 00:03:59,362 ♪ (TENSE MUSIC FADES) ♪ 96 00:03:59,363 --> 00:04:00,682 ROSE WINTER: I've spoken to the rest 97 00:04:00,683 --> 00:04:04,082 of the Hanani Publishing board and we have decided unanimously 98 00:04:04,083 --> 00:04:07,722 that we are going to take care of the damages. 99 00:04:07,723 --> 00:04:09,282 (GASPS) 100 00:04:09,283 --> 00:04:13,242 We all just wanna move on. I'm sure you can empathize. 101 00:04:13,243 --> 00:04:16,682 But our PR team is working round the clock 102 00:04:16,683 --> 00:04:18,123 to stage-manage this. 103 00:04:18,763 --> 00:04:21,603 And what we're getting is... 104 00:04:22,923 --> 00:04:24,562 the press 105 00:04:24,563 --> 00:04:28,122 want a public face for this scandal. 106 00:04:28,123 --> 00:04:30,042 Well, given a dead one doesn't work, right? 107 00:04:30,043 --> 00:04:31,402 ♪ (TENSE MUSIC PLAYING) ♪ 108 00:04:31,403 --> 00:04:33,362 I mean, she's been through enough. 109 00:04:33,363 --> 00:04:35,202 ROSE: We'd like to brief the press 110 00:04:35,203 --> 00:04:37,442 that you knew all about the embezzlement 111 00:04:37,443 --> 00:04:40,562 and were its main beneficiary. 112 00:04:40,563 --> 00:04:42,802 Now, they won't be able to finger you 113 00:04:42,803 --> 00:04:45,042 from a legal standpoint, but it will be good- 114 00:04:45,043 --> 00:04:46,722 You want her to wear the fucking scarlet letter? 115 00:04:46,723 --> 00:04:48,122 Do- Do you know how this country works? 116 00:04:48,123 --> 00:04:50,473 I mean, they'll hang her up as a fucking effigy. 117 00:04:50,763 --> 00:04:51,883 It's a lot of money. 118 00:04:52,643 --> 00:04:53,693 Many millions. 119 00:04:54,283 --> 00:04:56,322 And it's the real world. 120 00:04:56,323 --> 00:04:59,562 You know, there are, uh, caveats and stipulations 121 00:04:59,563 --> 00:05:01,122 to that kind of money. 122 00:05:01,123 --> 00:05:03,243 Yeah, but they'll flay me. 123 00:05:04,163 --> 00:05:06,922 And I mean, they're gonna love it. 124 00:05:06,923 --> 00:05:11,922 I- I didn't do anything. Come on. I didn't know anything. 125 00:05:11,923 --> 00:05:15,962 I mean, honestly, it- it- it doesn't particularly matter. 126 00:05:15,963 --> 00:05:19,042 The truth, it's- it's not important. 127 00:05:19,043 --> 00:05:23,562 What's important is what's expedient for all of us. 128 00:05:23,563 --> 00:05:25,202 You can't force her to do this. 129 00:05:25,203 --> 00:05:27,602 ROSE: We are paying back the families. 130 00:05:27,603 --> 00:05:28,882 It's the decent thing to do. 131 00:05:28,883 --> 00:05:32,322 You wanna publicly shame a fucking girl who has nothing? 132 00:05:32,323 --> 00:05:33,362 To the point of- of- 133 00:05:33,363 --> 00:05:36,122 of never being able to live a normal life again, 134 00:05:36,123 --> 00:05:37,933 and you're- you're okay with that? 135 00:05:40,163 --> 00:05:41,323 Those are the terms. 136 00:05:42,683 --> 00:05:46,682 The alternative is the legal route. 137 00:05:46,683 --> 00:05:49,082 We'll sue the Hanani family. 138 00:05:49,083 --> 00:05:52,122 We'll sue you to claim back some of the money 139 00:05:52,123 --> 00:05:54,682 we pay in settlement to your father's victims. 140 00:05:54,683 --> 00:05:56,202 It'll be long. 141 00:05:56,203 --> 00:05:59,002 By your own admission, you aren't capitalized enough 142 00:05:59,003 --> 00:06:00,323 for that kind of fight. 143 00:06:02,483 --> 00:06:06,362 You well know the end of the story 144 00:06:06,363 --> 00:06:09,283 for young women who are hounded by the tabloids, right? 145 00:06:15,043 --> 00:06:16,093 Accept the money. 146 00:06:17,843 --> 00:06:21,723 Accept your family's culpability and get on with your life. 147 00:06:22,323 --> 00:06:23,373 (SCOFFS) 148 00:06:25,283 --> 00:06:26,682 What life? 149 00:06:26,683 --> 00:06:28,322 ♪ (SUSPENSEFUL MUSIC CONCLUDES) ♪ 150 00:06:28,323 --> 00:06:29,722 SWEETPEA GOLIGHTLY: Her boob job's 151 00:06:29,723 --> 00:06:31,642 - insane. - (ANRAJ CHABRA LAUGHS) 152 00:06:31,643 --> 00:06:33,882 SWEETPEA: Rish, why did you pull us out of the party, man? 153 00:06:33,883 --> 00:06:38,402 Yeah, man, I was chirpsing this absolute MILF from Risk. 154 00:06:38,403 --> 00:06:41,202 Stop talking, listen. The 150 party is a sham. 155 00:06:41,203 --> 00:06:42,722 (INDISTINCT TV CHATTER IN BACKGROUND) 156 00:06:42,723 --> 00:06:45,433 Have you noticed that none of the top brass are there? 157 00:06:46,123 --> 00:06:49,002 Uh, how could this day get any worse? 158 00:06:49,003 --> 00:06:50,082 Insolvency? 159 00:06:50,083 --> 00:06:52,723 The CEO and CFO were meant to be in London for it. 160 00:06:53,163 --> 00:06:54,213 Where are they? 161 00:06:54,883 --> 00:06:56,242 Guys, they're upstairs. 162 00:06:56,243 --> 00:06:58,962 I- I told you. 163 00:06:58,963 --> 00:07:00,842 That's why it's so fucking scrot in here. 164 00:07:00,843 --> 00:07:03,242 - Look. Look at the bins. - Fucking stinks. 165 00:07:03,243 --> 00:07:05,202 I haven't seen a cleaner on the floor for two days. 166 00:07:05,203 --> 00:07:06,762 Yeah, maybe admin payroll's goosed. 167 00:07:06,763 --> 00:07:08,082 Those at the bottom get fucked first. 168 00:07:08,083 --> 00:07:11,322 But listen, I am working on an off-ramp for us. 169 00:07:11,323 --> 00:07:12,402 (ANRAJ CHUCKLES) 170 00:07:12,403 --> 00:07:14,122 We're going to be a pod on the buy side. 171 00:07:14,123 --> 00:07:16,482 ANRAJ: Yeah, why would you take us with you? 172 00:07:16,483 --> 00:07:18,082 Well, I need a doe-eyed little flirt 173 00:07:18,083 --> 00:07:19,202 for the front of house. 174 00:07:19,203 --> 00:07:20,762 ♪ (SUSPENSEFUL MUSIC PLAYING) ♪ 175 00:07:20,763 --> 00:07:22,722 RISHI RAMDANI: And Sweetpea's actually smart. 176 00:07:22,723 --> 00:07:23,842 (SWEETPEA CHUCKLES) 177 00:07:23,843 --> 00:07:26,362 Look, we all deserve better than this. 178 00:07:26,363 --> 00:07:28,002 Covered in grease while the white gloves 179 00:07:28,003 --> 00:07:30,002 - laugh at us upstairs. - (SWEET PEAT BREATHES DEEPLY) 180 00:07:30,003 --> 00:07:32,442 I can tell you as sure as Mother Teresa is in hell 181 00:07:32,443 --> 00:07:35,082 they're not thinking about us up there. I am. 182 00:07:35,083 --> 00:07:36,562 What happened to your arm by the way? 183 00:07:36,563 --> 00:07:37,802 RISHI: Walked into a door. Look. 184 00:07:37,803 --> 00:07:40,322 Get on the phones and move every position I have. 185 00:07:40,323 --> 00:07:41,482 Okay? Senior secured, 186 00:07:41,483 --> 00:07:45,522 AAA, BBB, jewels, junk, the lot. Eric's mandated it. 187 00:07:45,523 --> 00:07:46,963 I'll work our lifeboat. Move. 188 00:07:49,434 --> 00:07:52,322 SWEETPEA: Do you believe him? 189 00:07:52,323 --> 00:07:54,002 Would you work on the buy side? 190 00:07:54,003 --> 00:07:56,562 Ultimately... (SIGHS) 191 00:07:56,563 --> 00:07:58,882 ...your prognosis is we're dead anyway, right? 192 00:07:58,883 --> 00:07:59,963 Yeah. 193 00:08:01,203 --> 00:08:03,603 Look, even if this place is burning down... 194 00:08:04,803 --> 00:08:06,403 he's still our boss, right? 195 00:08:07,243 --> 00:08:08,842 (TELEPHONE RATTLING) 196 00:08:08,843 --> 00:08:11,603 - (BLOWS RASPBERRY) - (NUMBER PAD CLACKING) 197 00:08:13,283 --> 00:08:14,642 No. 198 00:08:14,643 --> 00:08:15,922 - What is the point... - What? 199 00:08:15,923 --> 00:08:18,562 ...of making this whole desk's PNL look good 200 00:08:18,563 --> 00:08:20,282 if this goes under, right? 201 00:08:20,283 --> 00:08:21,363 It's like... 202 00:08:22,083 --> 00:08:24,242 It's deckchairs on the Titanic. 203 00:08:24,243 --> 00:08:26,682 It's- Come on, we could like- 204 00:08:26,683 --> 00:08:28,402 - (CHUCKLES) - (SWEETPEA CHUCKLES) 205 00:08:28,403 --> 00:08:33,002 We could, like, commemorate Pierpoint's last birthday 206 00:08:33,003 --> 00:08:36,722 by getting absolutely fucking hooned. 207 00:08:36,723 --> 00:08:38,322 - (ANRAJ CHUCKLES) - ♪ (TENSE MUSIC CONTINUES) ♪ 208 00:08:38,323 --> 00:08:40,642 How many people know Pierpoint's 150th is a wake? 209 00:08:40,643 --> 00:08:41,882 RISHI: (OVER PHONE) Listen, listen. 210 00:08:41,883 --> 00:08:45,482 How do you fancy a Trequartista as elegant as me on a Bosman? 211 00:08:45,483 --> 00:08:46,882 A boss-man? 212 00:08:46,883 --> 00:08:49,082 We're not hiring new fund managers. 213 00:08:49,083 --> 00:08:50,802 RISHI: You need an execution guy. 214 00:08:50,803 --> 00:08:52,602 Someone who can look at flows, levels. 215 00:08:52,603 --> 00:08:54,202 Make sure you're not mistiming things 216 00:08:54,203 --> 00:08:56,082 - and losing upside. - HARPER STERN: Really? 217 00:08:56,083 --> 00:08:58,802 You're not a little overqualified for that? 218 00:08:58,803 --> 00:09:00,762 You're not desperate, are you? 219 00:09:00,763 --> 00:09:03,042 RISHI: All right, final offer. Quid pro quo. 220 00:09:03,043 --> 00:09:06,562 Chatter is that LeviathanAlpha has short Pierpoint in size. 221 00:09:06,563 --> 00:09:08,882 I can give you live missives from the madhouse, 222 00:09:08,883 --> 00:09:10,442 ear to the ground in the asylum, 223 00:09:10,443 --> 00:09:13,843 and help you manage when to take profit or stop out. 224 00:09:16,363 --> 00:09:18,882 Keep me up to date, and maybe we're talking. 225 00:09:18,883 --> 00:09:23,123 And- And I want to bring two smart, cheap juniors with me. 226 00:09:23,883 --> 00:09:25,522 Sweetpea and Anraj. 227 00:09:25,523 --> 00:09:27,843 If you are a serious fund, you need to grow. 228 00:09:28,803 --> 00:09:30,602 Do you want me to leave this? 229 00:09:30,603 --> 00:09:32,842 I forgot you were a family man. 230 00:09:32,843 --> 00:09:34,082 RISHI: I don't need to remind you 231 00:09:34,083 --> 00:09:35,482 how loose I am with my seed. 232 00:09:35,483 --> 00:09:36,563 Thanks. 233 00:09:37,643 --> 00:09:38,693 Speak soon. 234 00:09:40,323 --> 00:09:42,073 - Hmm. - Can I knock again tomorrow? 235 00:09:43,163 --> 00:09:44,213 No, thank you. 236 00:09:45,803 --> 00:09:46,853 (TROLLEY RATTLING) 237 00:09:46,854 --> 00:09:50,922 YASMIN KARA-HANANI: Has Harper fully moved out? 238 00:09:50,923 --> 00:09:52,722 ♪ (TENSE MUSIC FADES) ♪ 239 00:09:52,723 --> 00:09:54,803 ROBERT SPEARING: Yeah. Without a word. 240 00:09:57,403 --> 00:09:59,393 Remember to lock the back door tonight. 241 00:09:59,603 --> 00:10:00,983 I always forget. (CHUCKLES) 242 00:10:02,123 --> 00:10:03,203 Where are you going? 243 00:10:04,363 --> 00:10:06,002 Uh, I haven't told Pierpoint, 244 00:10:06,003 --> 00:10:08,353 but I've got a job interview tomorrow morning. 245 00:10:08,354 --> 00:10:09,962 In Wales. 246 00:10:09,963 --> 00:10:11,353 - YASMIN: What? - (LAUGHS) 247 00:10:11,683 --> 00:10:13,002 Yeah, uh, 248 00:10:13,003 --> 00:10:15,482 I met this guy, Pierre, who hooked me up 249 00:10:15,483 --> 00:10:18,082 with a medical research center attached to a university there. 250 00:10:18,083 --> 00:10:19,322 And, um, yeah. 251 00:10:19,323 --> 00:10:21,433 They're doing really cutting-edge work. 252 00:10:21,483 --> 00:10:22,722 Medicine? 253 00:10:22,723 --> 00:10:24,283 Medicine needs its money men. 254 00:10:24,923 --> 00:10:25,973 Uh-huh. 255 00:10:27,974 --> 00:10:31,642 When was the last time you left the house? 256 00:10:31,643 --> 00:10:33,523 ♪ (SERENE MUSIC PLAYING) ♪ 257 00:10:34,523 --> 00:10:37,123 There are, like, five paps outside. 258 00:10:40,283 --> 00:10:41,333 I didn't see any. 259 00:10:43,323 --> 00:10:44,523 They're not here for you. 260 00:10:52,723 --> 00:10:54,843 (CAR ENGINES RUMBLING) 261 00:10:58,123 --> 00:11:00,113 ROBERT: There's nobody out there, Yas. 262 00:11:00,803 --> 00:11:01,853 I promise. 263 00:11:04,523 --> 00:11:05,643 Sorry. (CHUCKLES) 264 00:11:07,603 --> 00:11:08,683 They, um... 265 00:11:10,243 --> 00:11:12,883 They really get in your head. 266 00:11:20,283 --> 00:11:21,603 Why don't you come with me? 267 00:11:23,203 --> 00:11:25,963 (CHUCKLES) I can't promise that I'll be... 268 00:11:26,963 --> 00:11:28,763 exhilarating company, but... 269 00:11:31,123 --> 00:11:32,403 I hired a Zipcar. 270 00:11:34,523 --> 00:11:35,963 I can drive you out of the city. 271 00:11:38,203 --> 00:11:39,803 I really don't see a way out. 272 00:11:44,043 --> 00:11:46,483 You know, a change of setting... 273 00:11:48,763 --> 00:11:52,683 it really helps me when I'm, you know... 274 00:11:54,163 --> 00:11:56,202 - agitated. - (CHUCKLES) 275 00:11:56,203 --> 00:11:57,723 (CELL PHONE VIBRATES) 276 00:12:04,123 --> 00:12:07,003 Nope. Nope. Come on. (LAUGHS) 277 00:12:07,883 --> 00:12:10,523 Let's bail. You know, let's, uh... 278 00:12:11,763 --> 00:12:14,123 Let's mistake the open road for freedom. 279 00:12:14,124 --> 00:12:16,762 Like all culture teaches us to. 280 00:12:16,763 --> 00:12:18,723 (BOTH LAUGH) 281 00:12:20,243 --> 00:12:21,293 ROBERT: Yeah? 282 00:12:23,403 --> 00:12:24,922 - Okay. - ROBERT: Yeah, okay. 283 00:12:24,923 --> 00:12:26,003 (CHUCKLES) 284 00:12:27,643 --> 00:12:30,403 Be ready in 20. I'm grabbing a shower. 285 00:12:39,203 --> 00:12:41,973 - (INDISTINCT CHATTER) - ♪ (SERENE MUSIC FADES) ♪ 286 00:12:42,523 --> 00:12:44,163 Who the hell is this? 287 00:12:45,323 --> 00:12:47,042 Uh, Tom, this is Eric Tao. 288 00:12:47,043 --> 00:12:49,642 Thirty years sales at Pierpoint across asset classes. 289 00:12:49,643 --> 00:12:52,162 Closest thing to a loyal lieutenant I have. 290 00:12:52,163 --> 00:12:55,402 If Pierpoint has such a thing as an institutional memory, 291 00:12:55,403 --> 00:12:56,962 - Tao is it. - Okay. 292 00:12:56,963 --> 00:12:58,442 ♪ (TENSE MUSIC PLAYING) ♪ 293 00:12:58,443 --> 00:13:01,003 And how important is history to us here today? 294 00:13:01,883 --> 00:13:04,482 Well, uh, given Bill's kind introduction, 295 00:13:04,483 --> 00:13:07,242 I see it as incumbent on me to say 296 00:13:07,243 --> 00:13:10,442 value is determined by history, 297 00:13:10,443 --> 00:13:12,322 which is indivisible from legacy. 298 00:13:12,323 --> 00:13:15,762 Institutions like ours don't pop up overnight. 299 00:13:15,763 --> 00:13:19,202 Too big to fail isn't an insult, it's a compliment. 300 00:13:19,203 --> 00:13:23,522 Our global interconnectivity and sheer size are hard-won. 301 00:13:23,523 --> 00:13:26,362 Let's make sure we let prospective buyers 302 00:13:26,363 --> 00:13:29,123 know that and value us accordingly. 303 00:13:31,283 --> 00:13:33,813 You're putting yourself at the center of history. 304 00:13:34,003 --> 00:13:35,242 Humble of you. 305 00:13:35,243 --> 00:13:37,642 Not at all. I'm putting Pierpoint 306 00:13:37,643 --> 00:13:39,922 at the center of the economic history 307 00:13:39,923 --> 00:13:42,122 of the 20th and 21st century. 308 00:13:42,123 --> 00:13:44,562 So, your purpose here is to belabor 309 00:13:44,563 --> 00:13:47,082 how Pierpoint is a star on the American flag? 310 00:13:47,083 --> 00:13:49,282 This is an American bank. 311 00:13:49,283 --> 00:13:50,722 I need practical thinkers 312 00:13:50,723 --> 00:13:53,283 who present workable options to me, not zealots. 313 00:13:53,923 --> 00:13:55,722 (CALL TONE CHIMES) 314 00:13:55,723 --> 00:13:58,362 U.S. OPERATOR: Please hold for the U.S. Treasury secretary. 315 00:13:58,363 --> 00:13:59,842 TREASURY SECRETARY: (OVER SPEAKER) Tom! 316 00:13:59,843 --> 00:14:01,402 WOLSEY: Madam Secretary. 317 00:14:01,403 --> 00:14:04,402 TREASURY SECRETARY: Graham filled me in on the situation. 318 00:14:04,403 --> 00:14:06,202 I don't wanna waste your time. 319 00:14:06,203 --> 00:14:08,602 The Treasury can't offer you a solution. 320 00:14:08,603 --> 00:14:11,043 Not today. Not tomorrow. 321 00:14:11,643 --> 00:14:12,722 Oh, Jesus. 322 00:14:12,723 --> 00:14:14,362 WOLSEY: You, of all people, understand the risk 323 00:14:14,363 --> 00:14:16,002 if Pierpoint collapses. 324 00:14:16,003 --> 00:14:18,002 (SCOFFS) We've dropped another ten percent 325 00:14:18,003 --> 00:14:20,082 the last hour of U.S. trading. 326 00:14:20,083 --> 00:14:22,402 Surely the lesson from '08 327 00:14:22,403 --> 00:14:26,122 is that administration should act early to stop contagion. 328 00:14:26,123 --> 00:14:29,322 Tell me exactly where you were in '08, Tom. 329 00:14:29,323 --> 00:14:30,762 If I remember correctly, 330 00:14:30,763 --> 00:14:33,082 I was the vice chair of the Federal Reserve 331 00:14:33,083 --> 00:14:35,162 and you were, uh, what? 332 00:14:35,163 --> 00:14:37,882 Singing acapella with the Whiffenpoofs at Yale? 333 00:14:37,883 --> 00:14:40,202 I actually do a very stirring rendition 334 00:14:40,203 --> 00:14:42,202 of "Radio Ga Ga" to this day. 335 00:14:42,203 --> 00:14:43,642 (TREASURY SECRETARY CHUCKLES) 336 00:14:43,643 --> 00:14:46,482 The lesson from '08 is no more bailouts. 337 00:14:46,483 --> 00:14:49,323 We're not asking for TARP scale relief here. 338 00:14:49,763 --> 00:14:51,122 '08 happened. 339 00:14:51,123 --> 00:14:55,562 Moral hazard isn't a thing. Nobody will care. 340 00:14:55,563 --> 00:14:58,362 We're asking for less than a tenth of the packet. 341 00:14:58,363 --> 00:15:00,522 TREASURY SECRETARY: You are out of your mind 342 00:15:00,523 --> 00:15:03,562 if you think we're putting our hands into the coffers 343 00:15:03,563 --> 00:15:08,162 for a financial institution in an election year? 344 00:15:08,163 --> 00:15:10,162 - (MUTE TONE BEEPS) - Pull on her heart strings. 345 00:15:10,163 --> 00:15:12,282 - It's worth a shot. - She's a Democrat. 346 00:15:12,283 --> 00:15:14,442 She only pretends to have a heart. 347 00:15:14,443 --> 00:15:15,802 Think about what you're doing. 348 00:15:15,803 --> 00:15:18,242 The only person you're hurting is the man on the street. 349 00:15:18,243 --> 00:15:20,642 The people on the pavement foot the check. 350 00:15:20,643 --> 00:15:23,042 The people you're supposed to protect. 351 00:15:23,043 --> 00:15:24,962 TREASURY SECRETARY: And in the immediacy 352 00:15:24,963 --> 00:15:28,162 the person who is footing the check eventually 353 00:15:28,163 --> 00:15:32,322 does not want to know they are footing it right now. 354 00:15:32,323 --> 00:15:34,442 It's an election year. 355 00:15:34,443 --> 00:15:36,202 So, you'll gladly let us fail? 356 00:15:36,203 --> 00:15:39,562 TREASURY SECRETARY: Oh, you're all salaried capitalists, right? 357 00:15:39,563 --> 00:15:42,842 Order some Chinese takeout and find a solution. 358 00:15:42,843 --> 00:15:44,602 I think the president might have something- 359 00:15:44,603 --> 00:15:46,722 TREASURY SECRETARY: The president still thinks 360 00:15:46,723 --> 00:15:48,563 we're at war with Japan. 361 00:15:49,243 --> 00:15:51,082 Goodbye and good luck. 362 00:15:51,083 --> 00:15:53,043 (CALL TONE CHIMES, BEEPS) 363 00:15:54,923 --> 00:15:56,303 (EXECUTIVE GRUNTS SOFTLY) 364 00:15:58,323 --> 00:16:00,683 Well, so much for too-big-to-fail. 365 00:16:02,003 --> 00:16:05,722 Surely, there are a number of sovereign wealth funds 366 00:16:05,723 --> 00:16:08,162 that would like to grow their stake in Pierpoint. 367 00:16:08,163 --> 00:16:09,722 - (ADLER CHUCKLES) - PHILLIP BLOUNT: What? Uh. 368 00:16:09,723 --> 00:16:11,043 Hear me out, hear me out. 369 00:16:11,044 --> 00:16:13,402 Credit Suisse was the last bank 370 00:16:13,403 --> 00:16:14,962 to go through this kind of thing, 371 00:16:14,963 --> 00:16:18,002 and the Gulf clearly had a huge appetite 372 00:16:18,003 --> 00:16:19,482 for a legacy banking name. 373 00:16:19,483 --> 00:16:20,642 ADLER: And look how that ended, 374 00:16:20,643 --> 00:16:23,122 with them being subsumed into UBS, their biggest rival. 375 00:16:23,123 --> 00:16:26,682 I'm sorry, but I think I speak for our 45,000 employees 376 00:16:26,683 --> 00:16:29,242 when I stand in opposition to the idea of Pierpoint's name 377 00:16:29,243 --> 00:16:31,722 being used to reputation- to- to reputation... 378 00:16:31,723 --> 00:16:32,802 (HESITATES) 379 00:16:32,803 --> 00:16:33,882 - Launder. - ADLER: Launder. 380 00:16:33,883 --> 00:16:35,122 I know the fucking word. Thank you. 381 00:16:35,123 --> 00:16:36,922 Reputation launder that sort of state-backed money. 382 00:16:36,923 --> 00:16:38,043 Right, Eric? 383 00:16:40,643 --> 00:16:45,242 Their values are anathema to everything we hold dear. 384 00:16:45,243 --> 00:16:47,162 WILHELMINA: Quibbling over the cultural provenance 385 00:16:47,163 --> 00:16:50,202 of the capital that could save us feels indulgent. 386 00:16:50,203 --> 00:16:52,602 Could be time for some, uh- some realpolitik. 387 00:16:52,603 --> 00:16:55,482 Oh, this from Madam ESG. I- I guess morals really do 388 00:16:55,483 --> 00:16:57,002 become more flexible in an emergency. 389 00:16:57,003 --> 00:16:58,682 Or maybe the answer is closer to home. 390 00:16:58,683 --> 00:17:00,322 Let's take a minute. 391 00:17:00,323 --> 00:17:02,043 Eric, let me steal you. Now. 392 00:17:03,963 --> 00:17:05,682 Phillip, can I have a word? 393 00:17:05,683 --> 00:17:07,843 - BLOUNT: Yeah. - (INDISTINCT CHATTER) 394 00:17:10,434 --> 00:17:14,522 What the fuck are you doing? Don't correct me. 395 00:17:14,523 --> 00:17:16,522 I don't need you to finish my fucking sentences! 396 00:17:16,523 --> 00:17:19,353 - Bill, I was just trying to- - No, no, no, you listen to me. 397 00:17:19,354 --> 00:17:21,442 It's a royal court in there, you understand? 398 00:17:21,443 --> 00:17:23,002 WOLSEY: It's getting rather pungent in here, 399 00:17:23,003 --> 00:17:24,442 isn't it? Too much meat in the room. 400 00:17:24,443 --> 00:17:25,842 I thought tonight was more important 401 00:17:25,843 --> 00:17:27,402 than jockeying for favorite position. 402 00:17:27,403 --> 00:17:29,882 I thought we cared about the soul of the firm. 403 00:17:29,883 --> 00:17:32,122 We do. The more senior we become, 404 00:17:32,123 --> 00:17:34,283 the more influence we have. Listen. 405 00:17:34,284 --> 00:17:38,282 Wilhelmina, she's not the head of Banking, Asset Management, 406 00:17:38,283 --> 00:17:40,282 Corporate Credit, but her- her ideology 407 00:17:40,283 --> 00:17:42,722 gave her a crusader's zeal to instruct those people. 408 00:17:42,723 --> 00:17:45,443 She wanted to be proven right and be first on ESG. 409 00:17:45,444 --> 00:17:48,642 That's why she pushed this shit so hard. 410 00:17:48,643 --> 00:17:50,522 That's- That's why we overstretched. 411 00:17:50,523 --> 00:17:51,963 She should be strung up for it. 412 00:17:54,963 --> 00:17:57,202 This is all going to end in a purge, 413 00:17:57,203 --> 00:17:58,723 which for us means... 414 00:17:59,363 --> 00:18:00,413 a putsch. 415 00:18:03,403 --> 00:18:05,082 How does Eric Tao, 416 00:18:05,083 --> 00:18:07,042 global head of institutional security 417 00:18:07,043 --> 00:18:08,093 sound to you? 418 00:18:09,923 --> 00:18:11,522 And follow in your slipstream? 419 00:18:11,523 --> 00:18:12,643 (DOOR OPENS) 420 00:18:15,283 --> 00:18:16,333 (DOOR CLOSES) 421 00:18:18,274 --> 00:18:22,162 ERIC: I wonder what they're talking about. 422 00:18:22,163 --> 00:18:23,922 ADLER: Whatever outcome suits them. 423 00:18:23,923 --> 00:18:27,202 It's key we lay as much shit as we can at her feet. 424 00:18:27,203 --> 00:18:29,242 She can be ESG's headstone. 425 00:18:29,243 --> 00:18:31,533 - Bury it beneath her. - (CELL PHONE VIBRATES) 426 00:18:34,123 --> 00:18:35,443 ADLER: O-fucking-kay. 427 00:18:35,444 --> 00:18:38,322 Mitsubishi is live. I've been, uh, close to them 428 00:18:38,323 --> 00:18:39,882 since my stint in Tokyo in the aughts. 429 00:18:39,883 --> 00:18:41,722 I've been priming them on a capital injection angle 430 00:18:41,723 --> 00:18:42,843 for the last few weeks. 431 00:18:45,123 --> 00:18:46,962 It'll allow us to fight another day 432 00:18:46,963 --> 00:18:48,562 and keep Pierpoint's autonomy. 433 00:18:48,563 --> 00:18:52,442 When I'm CFO, I'll fucking... drag you up with me. 434 00:18:52,443 --> 00:18:54,313 I'll place you anywhere in the world. 435 00:18:55,243 --> 00:18:57,802 How do you still have the energy for this? 436 00:18:57,803 --> 00:19:00,453 - (CHUCKLING) What else is there? - (ERIC CHUCKLES) 437 00:19:01,203 --> 00:19:03,043 The action is the juice. 438 00:19:11,323 --> 00:19:13,762 ♪ (TENSE MUSIC BUILDS, CONCLUDES) ♪ 439 00:19:13,763 --> 00:19:16,803 ♪ ("EASY TO BE HARD" BY GOOF PLAYING) ♪ 440 00:19:17,354 --> 00:19:21,722 ROBERT: They're fundamentally non-toxic, right? 441 00:19:21,723 --> 00:19:23,322 So, that means you could get it to be 442 00:19:23,323 --> 00:19:24,522 as integrated into your daily life 443 00:19:24,523 --> 00:19:26,042 as- as your morning coffee. 444 00:19:26,043 --> 00:19:27,962 You are talking about magic mushrooms, right? 445 00:19:27,963 --> 00:19:29,722 ROBERT: The active ingredient is psilocybin, yeah, 446 00:19:29,723 --> 00:19:31,962 but it's in pharmaceutical form, in LittleLabs product. 447 00:19:31,963 --> 00:19:34,642 So, surely the whole point is to get as mashed out 448 00:19:34,643 --> 00:19:36,162 of your own fucking head as possible? 449 00:19:36,163 --> 00:19:38,602 ROBERT: No, no, it's clearly an attitudinal thing, you know? 450 00:19:38,603 --> 00:19:42,603 It's about dose and mindset, setting, you know? It- 451 00:19:43,563 --> 00:19:46,522 It's not about taking a fucking hero dose 452 00:19:46,523 --> 00:19:48,482 and seeing the face of God or whatever. 453 00:19:48,483 --> 00:19:51,322 It's- It's about an overall heightening 454 00:19:51,323 --> 00:19:53,122 in your day-to-day state, 455 00:19:53,123 --> 00:19:56,522 your introspection, your- your compassion. 456 00:19:56,523 --> 00:19:58,162 (SCOFFS) Do I sound stupid? 457 00:19:58,163 --> 00:20:00,362 Word of warning, you have no idea how annoying 458 00:20:00,363 --> 00:20:02,442 it is just listening to someone proselytizing 459 00:20:02,443 --> 00:20:03,962 about the benefits of hallucinogens. 460 00:20:03,963 --> 00:20:06,242 It's like- It's- it's just- It's like you've joined a cult, 461 00:20:06,243 --> 00:20:07,482 - honestly. - (LAUGHS) 462 00:20:07,483 --> 00:20:10,402 Finally, you're a little more fucking animated. (CHUCKLES) 463 00:20:10,403 --> 00:20:13,233 Only took you having to put someone down to get you there. 464 00:20:13,234 --> 00:20:14,602 (YASMIN CHUCKLES SOFTLY) 465 00:20:14,603 --> 00:20:16,922 Anyway, you're missing the point, you know, 466 00:20:16,923 --> 00:20:20,842 this is just- It's a chance for me, 467 00:20:20,843 --> 00:20:23,643 you know, to do something off my own bat. 468 00:20:24,603 --> 00:20:25,653 For once. 469 00:20:25,974 --> 00:20:32,002 - ♪ (SONG STOPS ABRUPTLY) ♪ - (CELL PHONE RINGS, VIBRATES) 470 00:20:32,003 --> 00:20:33,053 YASMIN: It's Maxim. 471 00:20:33,803 --> 00:20:34,963 I can call him back. 472 00:20:34,994 --> 00:20:37,042 I need a piss. 473 00:20:37,043 --> 00:20:38,682 (TURN SIGNAL CLICKING) 474 00:20:38,683 --> 00:20:40,563 (URINE TRICKLING) 475 00:20:42,123 --> 00:20:45,322 - Hey, Maxim. Where are you? - MAXIM ALONSO: Big Basin? 476 00:20:45,323 --> 00:20:46,683 South of San Fran. 477 00:20:46,684 --> 00:20:49,442 I'm not sure being alone with my thoughts 478 00:20:49,443 --> 00:20:52,802 is worth the 5,000 dollars a week I'm paying, but, uh... 479 00:20:52,803 --> 00:20:54,882 Yeah, well, your mind is squalid enough 480 00:20:54,883 --> 00:20:57,522 to need airing, so it's probably money well spent. 481 00:20:57,523 --> 00:20:59,753 Look, I'm sorry for falling out of your life. 482 00:21:00,843 --> 00:21:03,322 I've been dealing with my own shit, you know? 483 00:21:03,323 --> 00:21:06,213 I saw those appalling photos of Charlie, and honestly, I... 484 00:21:07,003 --> 00:21:08,882 I couldn't sleep. 485 00:21:08,883 --> 00:21:11,162 You know, I'm supposed to lock my phone in a lockbox here, 486 00:21:11,163 --> 00:21:13,962 but, uh, who am I kidding? 487 00:21:13,963 --> 00:21:15,243 Just keep having to use it. 488 00:21:17,043 --> 00:21:21,242 YASMIN: Okay, so, um, what is it? 489 00:21:21,243 --> 00:21:23,522 Look, for all the reservations I had about your father, 490 00:21:23,523 --> 00:21:25,762 you need to know the company were complicit 491 00:21:25,763 --> 00:21:27,642 in all of the fucked-up shit he did. 492 00:21:27,643 --> 00:21:30,002 - ♪ (SUSPENSEFUL MUSIC PLAYING) ♪ - How? 493 00:21:30,003 --> 00:21:33,682 I have some pretty heinous anti-woke pals at Hanani 494 00:21:33,683 --> 00:21:35,162 who are on the board with me, 495 00:21:35,163 --> 00:21:37,562 and they hate its new hypocrisy. 496 00:21:37,563 --> 00:21:39,122 The NDAs your father had 497 00:21:39,123 --> 00:21:40,933 don't just cover his personal life. 498 00:21:40,934 --> 00:21:42,602 Some of Charlie's women 499 00:21:42,603 --> 00:21:45,002 only started working for Hanani Publishing 500 00:21:45,003 --> 00:21:46,642 after they had signed. 501 00:21:46,643 --> 00:21:48,682 Hanani gave them these made-up jobs, 502 00:21:48,683 --> 00:21:50,882 bogus accounting lines on the payroll. 503 00:21:50,883 --> 00:21:52,922 Rose and the company bought their silence for years, 504 00:21:52,923 --> 00:21:54,002 just as much as he did. 505 00:21:54,003 --> 00:21:55,682 They- They're trying to make me the face 506 00:21:55,683 --> 00:21:57,482 - of this thing. - MAXIM: Yeah. 507 00:21:57,483 --> 00:21:59,042 Because it's an open secret at Hanani, 508 00:21:59,043 --> 00:22:01,633 maybe it's a matter of time before someone leaks it. 509 00:22:01,634 --> 00:22:03,442 If they feed you to the press now, 510 00:22:03,443 --> 00:22:04,562 your vestigial board seat 511 00:22:04,563 --> 00:22:06,282 means you'll be perfectly placed to be tarred 512 00:22:06,283 --> 00:22:07,682 if it ever comes to light. 513 00:22:07,683 --> 00:22:09,202 You're pre-packaged to take the blame 514 00:22:09,203 --> 00:22:10,842 as you're already the headline. 515 00:22:10,843 --> 00:22:13,602 That sneaky, little cunt. 516 00:22:13,603 --> 00:22:16,562 MAXIM: Look, someone slipped me a screenshot of the payrolls. 517 00:22:16,563 --> 00:22:18,802 The women with the NDAs have a check next to their name. 518 00:22:18,803 --> 00:22:20,642 What- Can- Can you send it to me? 519 00:22:20,643 --> 00:22:22,242 MAXIM: Yeah, I can, but it's probably illegal 520 00:22:22,243 --> 00:22:24,122 to send this kind of proprietary information. 521 00:22:24,123 --> 00:22:25,722 Your lawyer will advise you not to use it, 522 00:22:25,723 --> 00:22:27,762 but I'll send it along. 523 00:22:27,763 --> 00:22:30,042 I just don't think they should be compounding your guilt- 524 00:22:30,043 --> 00:22:32,802 sorry, grief. 525 00:22:32,803 --> 00:22:35,202 I don't want to tell you how to feel about him. 526 00:22:35,203 --> 00:22:37,602 You know, I think Charlie found it difficult 527 00:22:37,603 --> 00:22:38,963 to see people as people. 528 00:22:39,843 --> 00:22:41,523 Yeah, you don't fucking say. 529 00:22:42,643 --> 00:22:44,243 - (CELL PHONE THUDS) - (SIGHS) 530 00:22:46,643 --> 00:22:47,693 Take care. 531 00:22:52,424 --> 00:22:55,762 ♪ (SUSPENSEFUL MUSIC FADES) ♪ 532 00:22:55,763 --> 00:22:58,042 - Is everything all right? - Yeah. (CHUCKLES DRYLY) 533 00:22:58,043 --> 00:23:01,283 Super fucking duper. So, this is it, right? 534 00:23:01,284 --> 00:23:04,282 This is the product that you're selling? 535 00:23:04,283 --> 00:23:06,642 - If you get the job? - Uh, yeah. Uh... 536 00:23:06,643 --> 00:23:09,353 Probably isn't the place to take it properly, though. 537 00:23:10,083 --> 00:23:11,133 Right. 538 00:23:13,843 --> 00:23:14,893 (SIGHS) 539 00:23:17,923 --> 00:23:18,973 You hungry? 540 00:23:19,923 --> 00:23:21,683 (CHUCKLES, SNIFFLES) Yeah. 541 00:23:22,283 --> 00:23:23,333 (SNIFFLES) 542 00:23:23,334 --> 00:23:26,842 - Yeah, I'm fucking starving. - (BOTH CHUCKLE) 543 00:23:26,843 --> 00:23:28,962 ♪ ("21ST CENTURY LIVING" BY TOMMY DOWN PLAYING) ♪ 544 00:23:28,963 --> 00:23:30,643 ROBERT: (SIGHS) Come on, then. 545 00:23:30,644 --> 00:23:34,122 RECEPTIONIST: Oh, gosh. I do it all the time. It's great. 546 00:23:34,123 --> 00:23:36,562 - ROBERT: Yeah? - RECEPTIONIST: Yeah. (CHUCKLES) 547 00:23:36,563 --> 00:23:39,722 So, the rooms are next to each other, six and seven. 548 00:23:39,723 --> 00:23:42,282 - Sorry that we're so late. - (KEYS JINGLING) 549 00:23:42,283 --> 00:23:45,362 Um, checkout is at 11:00 and breakfast is from 7:00. 550 00:23:45,363 --> 00:23:47,082 - Great, thank you. - RECEPTIONIST: Thanks. 551 00:23:47,083 --> 00:23:48,562 Just as a pre-warning, 552 00:23:48,563 --> 00:23:52,002 the, um, kettle in your room is a little bit iffy. 553 00:23:52,003 --> 00:23:54,593 Oh, is there any way that I could get one that works? 554 00:23:54,963 --> 00:23:56,603 Not tonight, sadly. 555 00:23:56,604 --> 00:24:00,762 It's just, it's a pretty basic amenity though, no? 556 00:24:00,763 --> 00:24:03,602 Um, she can use mine, it's all right. 557 00:24:03,603 --> 00:24:05,802 (CHUCKLES) Uh, right, I'm gonna go dump the bags 558 00:24:05,803 --> 00:24:06,842 and then we'll grab a bite? 559 00:24:06,843 --> 00:24:08,282 - Mm-hmm. - ROBERT: Uh, thank you. 560 00:24:08,283 --> 00:24:10,693 - Thank you, enjoy your stay. - Cheers, thank you. 561 00:24:13,723 --> 00:24:16,013 RECEPTIONIST: So, do you two work together? 562 00:24:16,923 --> 00:24:19,082 No, we're a couple. 563 00:24:19,083 --> 00:24:22,922 Oh, I just, um- I thought with the separate rooms- 564 00:24:22,923 --> 00:24:25,153 We're very religious. Do you have a lighter? 565 00:24:25,963 --> 00:24:27,013 Yes. 566 00:24:28,154 --> 00:24:32,562 DENISE OLDROYD: (OVER PHONE) Yeah, I got your email. 567 00:24:32,563 --> 00:24:34,242 What do you expect me to do with this? 568 00:24:34,243 --> 00:24:36,562 W- I mean, it's leverage, no? 569 00:24:36,563 --> 00:24:38,602 It's, like, evidence of their complicity. 570 00:24:38,603 --> 00:24:40,282 This is on Rose's head. 571 00:24:40,283 --> 00:24:42,282 DENISE: Have you thought about what making this public 572 00:24:42,283 --> 00:24:43,802 would do to the victims? 573 00:24:43,803 --> 00:24:47,162 These women, like you, have been through a lot. 574 00:24:47,163 --> 00:24:49,482 Leaking this to the public would re-traumatize them. 575 00:24:49,483 --> 00:24:51,442 I didn't think about that, no. 576 00:24:51,443 --> 00:24:53,482 DENISE: A publicity battle is gonna be very hard, 577 00:24:53,483 --> 00:24:55,003 but we can win it. 578 00:24:56,043 --> 00:24:57,483 They go low, we go high. 579 00:24:57,883 --> 00:24:58,933 All right? 580 00:24:59,803 --> 00:25:01,443 - Speak later. - (SIGHS) 581 00:25:06,163 --> 00:25:08,523 ♪ (TENSE MUSIC PLAYING) ♪ 582 00:25:08,624 --> 00:25:11,402 ♪ (TENSE MUSIC CONCLUDES) ♪ 583 00:25:11,403 --> 00:25:13,642 - (INDISTINCT CHATTER) - That cunt never answers. 584 00:25:13,643 --> 00:25:15,642 Tom, Tom, I've engaged Mitsubishi 585 00:25:15,643 --> 00:25:17,242 - in substantive talks... - WILHELMINA: Uh... 586 00:25:17,243 --> 00:25:18,962 - ADLER: ...regarding a- - Uh, Michael- Sorry. 587 00:25:18,963 --> 00:25:21,602 Michael Stone from Barclays is on his way into the building. 588 00:25:21,603 --> 00:25:24,803 Michael and I have a personal relationship. 589 00:25:25,963 --> 00:25:27,882 Horse-driven, mostly. 590 00:25:27,883 --> 00:25:31,602 Off the record, they've always been interested in our business. 591 00:25:31,603 --> 00:25:34,922 Okay, so what's the play? Sell a division? 592 00:25:34,923 --> 00:25:38,162 They did do that with Lehman's core North American operations. 593 00:25:38,163 --> 00:25:41,762 Given that our share price has now closed at 35 dollars, 594 00:25:41,763 --> 00:25:44,042 we are, by all accounts, a distressed asset. 595 00:25:44,043 --> 00:25:45,522 They might weigh buying us wholesale. 596 00:25:45,523 --> 00:25:48,002 (SCOFFS) We need strategic investment, 597 00:25:48,003 --> 00:25:49,242 not a sale. 598 00:25:49,243 --> 00:25:51,962 In our 150th year, we cannot become a subsidiary 599 00:25:51,963 --> 00:25:54,042 to a fucking British high street bank. 600 00:25:54,043 --> 00:25:55,922 I appreciate how romantic a soul 601 00:25:55,923 --> 00:25:57,882 you have in a room like this, truly, 602 00:25:57,883 --> 00:25:59,402 but we need to be practical. 603 00:25:59,403 --> 00:26:02,362 Barclays buying Pierpoint may be our best option. 604 00:26:02,363 --> 00:26:04,122 ♪ (TENSE MUSIC PLAYING) ♪ 605 00:26:04,123 --> 00:26:05,322 Mr. Stone, welcome. 606 00:26:05,323 --> 00:26:07,002 MICHAEL STONE: Oh, call me Michael, please. 607 00:26:07,003 --> 00:26:08,993 WOLSEY'S ASSISTANT: Please, this way. 608 00:26:12,763 --> 00:26:14,323 (CELL PHONE VIBRATES) 609 00:26:15,563 --> 00:26:17,162 - Yeah? - RISHI: Yeah, H. 610 00:26:17,163 --> 00:26:20,002 Listen, you might have hit your take-profit level. 611 00:26:20,003 --> 00:26:21,442 The Barclays CEO just arrived 612 00:26:21,443 --> 00:26:23,642 and he looks like he means business. 613 00:26:23,643 --> 00:26:25,642 And Pierpoint's stock will rip on any merger 614 00:26:25,643 --> 00:26:28,082 or takeover chatter. That's Nagasaki for your short. 615 00:26:28,083 --> 00:26:29,442 HARPER: It's definitely him? 616 00:26:29,443 --> 00:26:31,523 Oh, yeah, and he looks horny for assets. 617 00:26:31,524 --> 00:26:33,282 HARPER: Thanks. 618 00:26:33,283 --> 00:26:36,442 Um, hey, you know, I can't hire three people, Rish. 619 00:26:36,443 --> 00:26:37,643 What do you wanna do? 620 00:26:39,723 --> 00:26:42,043 Babes, come on. You know it's only ever been me. 621 00:26:44,563 --> 00:26:47,453 Okay, um, come in after this all shakes out and we'll talk. 622 00:26:47,454 --> 00:26:52,282 And how would the floor take a sale to fucking Barclays? 623 00:26:52,283 --> 00:26:54,322 - ♪ (TENSE MUSIC CONCLUDES) ♪ - Maybe they just want 624 00:26:54,323 --> 00:26:56,282 somewhere to come to work. 625 00:26:56,283 --> 00:26:57,882 ADLER: You don't have 20 years of options. 626 00:26:57,883 --> 00:26:59,442 I've never sold a goddamn share. 627 00:26:59,443 --> 00:27:01,322 A Brit takeover would decimate it all. 628 00:27:01,323 --> 00:27:03,313 BLOUNT: You could keep your deferreds. 629 00:27:03,314 --> 00:27:05,122 Chump change. 630 00:27:05,123 --> 00:27:06,933 So, now we see your real motivation. 631 00:27:06,934 --> 00:27:09,522 ADLER: And what's your motivation? 632 00:27:09,523 --> 00:27:11,122 Brokering a deal that obliterates us 633 00:27:11,123 --> 00:27:13,402 so long as you're central enough to keep your seat at the table? 634 00:27:13,403 --> 00:27:14,522 You know what? 635 00:27:14,523 --> 00:27:16,202 I think I've finally made up my mind about you. 636 00:27:16,203 --> 00:27:17,322 Oh, go on. 637 00:27:17,323 --> 00:27:19,162 - Please, enlighten me. - You want to take this offline? 638 00:27:19,163 --> 00:27:21,042 (LAUGHS) Does that fake macho bullshit ever actually- 639 00:27:21,043 --> 00:27:23,162 You have the imagination of a fucking- 640 00:27:23,163 --> 00:27:24,602 - BLOUNT: Michael! - MICHAEL: Phillip. 641 00:27:24,603 --> 00:27:27,202 Hi. Hi. Wilhelmina. 642 00:27:27,203 --> 00:27:28,802 - We spoke on the phone. - MICHAEL: Yes, we did. 643 00:27:28,803 --> 00:27:30,082 - Hi. - WILHELMINA: Nice to see you. Hi. 644 00:27:30,083 --> 00:27:31,163 WOLSEY: Tom Wolsey. 645 00:27:32,243 --> 00:27:33,882 (INDISTINCT CHATTER) 646 00:27:33,883 --> 00:27:35,403 - ROBERT: Oi, oi. - YASMIN: Ah. 647 00:27:35,404 --> 00:27:37,082 Bon appétit. (CHUCKLES) 648 00:27:37,083 --> 00:27:39,482 YASMIN: What the fuck is that? (CHUCKLES) 649 00:27:39,483 --> 00:27:41,162 - ROBERT: Are you kidding? - No. 650 00:27:41,163 --> 00:27:42,762 I got them to put scraps on and everything. 651 00:27:42,763 --> 00:27:44,722 YASMIN: Honestly, what is it? 652 00:27:44,723 --> 00:27:46,322 What- It's a battered sausage. 653 00:27:46,323 --> 00:27:48,562 I'm not eating a battered sausage. (LAUGHS) 654 00:27:48,563 --> 00:27:50,122 Have a chip, at least. 655 00:27:50,123 --> 00:27:52,353 - YASMIN: Okay. - ROBERT: Don't be such a snob. 656 00:27:54,403 --> 00:27:55,453 (BATTER CRUNCHES) 657 00:27:56,243 --> 00:27:57,483 How perfect is this? 658 00:28:00,523 --> 00:28:01,573 YASMIN: Hmm. 659 00:28:08,883 --> 00:28:10,003 You know, um... 660 00:28:10,004 --> 00:28:14,282 you could probably invite that impressionable, young girl 661 00:28:14,283 --> 00:28:16,363 up to your room and fuck her silly. 662 00:28:17,523 --> 00:28:20,483 'Cause... (CLEARS THROAT) ...there's not gonna be any... 663 00:28:21,283 --> 00:28:23,562 room hopping tonight here. 664 00:28:23,563 --> 00:28:26,922 Just FYI, you know, as fun as that might be. 665 00:28:26,923 --> 00:28:28,003 What are you doing? 666 00:28:29,203 --> 00:28:30,253 What do you mean? 667 00:28:31,363 --> 00:28:32,642 You don't have to. 668 00:28:32,643 --> 00:28:34,763 (WAVES LAPPING) 669 00:28:36,683 --> 00:28:39,693 (QUIVERING) Not everything with us has to be a fucking game. 670 00:28:41,243 --> 00:28:44,843 Whatever vulnerability that you're feeling right now... 671 00:28:45,963 --> 00:28:47,013 sit in it. 672 00:28:48,643 --> 00:28:49,693 All right? 673 00:28:51,643 --> 00:28:52,693 'Cause we are- 674 00:28:53,243 --> 00:28:55,203 We are beyond the game. 675 00:28:58,683 --> 00:28:59,763 Sorry. 676 00:29:00,603 --> 00:29:01,653 (SNIFFLES) 677 00:29:11,803 --> 00:29:12,853 I'm sorry. 678 00:29:15,403 --> 00:29:16,973 I don't know why I act like that. 679 00:29:21,723 --> 00:29:22,773 (SNIFFLES) 680 00:29:26,763 --> 00:29:28,242 (SNIFFLES) I don't know. 681 00:29:28,243 --> 00:29:30,963 I'm good at making people feel like I love them. 682 00:29:33,283 --> 00:29:34,443 But, um... 683 00:29:36,483 --> 00:29:37,923 I don't know that I ever have. 684 00:29:41,243 --> 00:29:42,293 Have you? 685 00:29:44,843 --> 00:29:45,893 Yeah. 686 00:29:48,064 --> 00:29:51,282 Girlfriend at school, Izzy Boon. 687 00:29:51,283 --> 00:29:53,923 - I was fucking obsessed. - (LAUGHS) 688 00:29:57,083 --> 00:29:58,883 (CHUCKLES) 689 00:30:01,763 --> 00:30:03,962 YASMIN: It's just my first instinct. 690 00:30:03,963 --> 00:30:05,563 Whenever I feel anything, 691 00:30:06,243 --> 00:30:10,922 like... love or care, um, 692 00:30:10,923 --> 00:30:13,242 I just want to make it ugly as quickly as I possibly can. 693 00:30:13,243 --> 00:30:15,042 You know, turn it into something else. 694 00:30:15,043 --> 00:30:17,922 (SNIFFLES) Turn it into sex. You know, anything else. 695 00:30:17,923 --> 00:30:19,642 ♪ (SOFT MUSIC PLAYING) ♪ 696 00:30:19,643 --> 00:30:20,723 Right. 697 00:30:28,123 --> 00:30:29,363 I don't know what to say. 698 00:30:30,883 --> 00:30:31,933 (SNIFFLES) 699 00:30:37,083 --> 00:30:38,483 Uh, all I know is... 700 00:30:42,043 --> 00:30:43,723 is that for the first time... 701 00:30:45,683 --> 00:30:46,733 in a long time... 702 00:30:49,203 --> 00:30:51,013 I've got this feeling in my stomach. 703 00:30:54,403 --> 00:30:55,903 I couldn't work out what it was. 704 00:30:59,123 --> 00:31:00,243 But I know now... 705 00:31:02,643 --> 00:31:04,203 that it's anticipation. 706 00:31:06,883 --> 00:31:08,523 It's excitement for the future. 707 00:31:30,363 --> 00:31:32,683 ♪ (SOFT MUSIC CONTINUES) ♪ 708 00:31:40,603 --> 00:31:41,763 (KEYS JINGLING) 709 00:31:53,243 --> 00:31:55,683 - (DOOR CLOSES) - ♪ (SOFT MUSIC FADES) ♪ 710 00:32:01,203 --> 00:32:02,483 Our short is about to turn. 711 00:32:07,523 --> 00:32:08,573 How do you know? 712 00:32:09,163 --> 00:32:12,363 Uh, well, um... 713 00:32:12,963 --> 00:32:14,362 (INHALES) Listen, I- 714 00:32:14,363 --> 00:32:16,202 I think we are diametrically opposed 715 00:32:16,203 --> 00:32:17,762 when it comes to the relationship 716 00:32:17,763 --> 00:32:19,962 between information and how it's traded upon, right? 717 00:32:19,963 --> 00:32:23,402 I think everything and everyone 718 00:32:23,403 --> 00:32:26,242 is moving in a big sludge of gray. 719 00:32:26,243 --> 00:32:27,922 Don't over-intellectualize this shit. 720 00:32:27,923 --> 00:32:29,043 What have you done? 721 00:32:29,484 --> 00:32:31,962 I have it on good authority 722 00:32:31,963 --> 00:32:33,442 Michael Stone has just gone into Pierpoint. 723 00:32:33,443 --> 00:32:35,442 It's an acquisition target. 724 00:32:35,443 --> 00:32:38,082 We need to take profit before they buy it, 725 00:32:38,083 --> 00:32:40,282 and Pierpoint stock rallies. 726 00:32:40,283 --> 00:32:42,323 Uh-uh. No. I don't think we should do that. 727 00:32:43,363 --> 00:32:44,722 Why? 728 00:32:44,723 --> 00:32:48,762 Think about the risk-reward. I mean, what percentage chance 729 00:32:48,763 --> 00:32:51,722 do you ascribe to him being there to buy it? 730 00:32:51,723 --> 00:32:56,642 I mean, like a hundred percent? It's too big a coincidence. 731 00:32:56,643 --> 00:32:59,442 They're throwing a party for financial luminaries, no? 732 00:32:59,443 --> 00:33:01,682 And look, I mean, even if it's true, 733 00:33:01,683 --> 00:33:03,922 so the stock gets a bump on the headline. 734 00:33:03,923 --> 00:33:05,362 I mean, what about the due diligence, 735 00:33:05,363 --> 00:33:06,482 the regulator, the government? 736 00:33:06,483 --> 00:33:08,042 Balance that against what we stand to gain 737 00:33:08,043 --> 00:33:10,522 if we hold the line, if Pierpoint trades to zero. 738 00:33:10,523 --> 00:33:11,762 Where's your stomach? 739 00:33:11,763 --> 00:33:13,722 HARPER: I just don't know what it looks like to the regulator 740 00:33:13,723 --> 00:33:15,402 if we're always on the right side of this trade 741 00:33:15,403 --> 00:33:17,162 at precisely the right time. 742 00:33:17,163 --> 00:33:18,722 (CLOCK TOWER BELL RINGING IN DISTANCE) 743 00:33:18,723 --> 00:33:20,893 PETRA KOENIG: What aren't you telling me? 744 00:33:21,363 --> 00:33:25,002 HARPER: Um, again, moving forward with honesty... 745 00:33:25,003 --> 00:33:27,202 ♪ (SUSPENSEFUL MUSIC PLAYING) ♪ 746 00:33:27,203 --> 00:33:29,563 ...I know Pierpoint are terminally ill. 747 00:33:30,723 --> 00:33:32,242 How? 748 00:33:32,243 --> 00:33:35,203 I overheard it. In the toilet. 749 00:33:38,603 --> 00:33:39,653 In Pierpoint? 750 00:33:42,923 --> 00:33:45,043 Holy fucking cunting Christ. I... 751 00:33:46,283 --> 00:33:50,722 Okay, that is a completely different beast. 752 00:33:50,723 --> 00:33:52,162 I mean, trading on anything 753 00:33:52,163 --> 00:33:53,922 that you hear in there is privileged information. 754 00:33:53,923 --> 00:33:55,162 They... they know we were in there. 755 00:33:55,163 --> 00:33:56,642 There's- there's cameras, there's records. 756 00:33:56,643 --> 00:33:59,242 Okay, but like, how is an SEC FCA investigation 757 00:33:59,243 --> 00:34:01,402 gonna put anything together based on that? 758 00:34:01,403 --> 00:34:04,202 It would be speculative at best. 759 00:34:04,203 --> 00:34:06,402 What, we took a meeting and placed a short? 760 00:34:06,403 --> 00:34:08,082 Lock us up, throw away the key, come on. 761 00:34:08,083 --> 00:34:09,202 PETRA: Okay, okay. 762 00:34:09,203 --> 00:34:11,922 The whole thing is fucking information soup. 763 00:34:11,923 --> 00:34:13,802 That is the point. 764 00:34:13,803 --> 00:34:15,683 (GROANS, EXHALES SHARPLY) 765 00:34:18,323 --> 00:34:20,963 You've backed us into a major fucking corner. 766 00:34:23,723 --> 00:34:24,843 Okay, well... 767 00:34:26,163 --> 00:34:27,213 I've said my piece. 768 00:34:28,763 --> 00:34:29,813 Yeah. 769 00:34:30,214 --> 00:34:34,562 - (SIGHS) - ♪ (SUSPENSEFUL MUSIC FADES) ♪ 770 00:34:34,563 --> 00:34:35,882 MICHAEL: People damn Lehman 771 00:34:35,883 --> 00:34:38,113 because of poor risk management in one area. 772 00:34:38,883 --> 00:34:40,122 Housing derivatives. 773 00:34:40,123 --> 00:34:41,922 But we benefited hugely 774 00:34:41,923 --> 00:34:44,762 from acquiring the bond trading and EM businesses. 775 00:34:44,763 --> 00:34:47,002 I'm sure Pierpoint's suite will be 776 00:34:47,003 --> 00:34:49,642 similarly exciting, synergistically, for us. 777 00:34:49,643 --> 00:34:51,162 We can give the market the soft signal 778 00:34:51,163 --> 00:34:53,482 this is happening and allay the share price. 779 00:34:53,483 --> 00:34:56,322 Stave off any more panic. Give us some breathing room. 780 00:34:56,323 --> 00:34:58,522 Can I ask, would we be Barclays-Pierpoint 781 00:34:58,523 --> 00:35:00,002 or Pierpoint-Barclays? 782 00:35:00,003 --> 00:35:01,522 Do we care about the cosmetics? 783 00:35:01,523 --> 00:35:03,602 As someone who's been here longer than a fortnight, 784 00:35:03,603 --> 00:35:05,202 you should care about the weight of our name. 785 00:35:05,203 --> 00:35:06,282 If you're addressing me, 786 00:35:06,283 --> 00:35:07,642 could you look me in the face, please? 787 00:35:07,643 --> 00:35:09,162 (SCOFFS SOFTLY) 788 00:35:09,163 --> 00:35:10,962 Do we care about saving the name 789 00:35:10,963 --> 00:35:13,242 or saving the jobs of the people who work for us? 790 00:35:13,243 --> 00:35:14,563 Well, maybe you can tell us. 791 00:35:14,564 --> 00:35:16,642 Or maybe our potential suitor 792 00:35:16,643 --> 00:35:18,633 is best placed to answer that question. 793 00:35:21,243 --> 00:35:25,323 You guys are trading off a 150-year reputation, 794 00:35:26,043 --> 00:35:28,003 which we respect, of course. 795 00:35:29,283 --> 00:35:30,962 But practically, 796 00:35:30,963 --> 00:35:34,043 we are interested in your infrastructure. 797 00:35:35,283 --> 00:35:39,042 Now, as time is of the essence, I'll make some phone calls. 798 00:35:39,043 --> 00:35:41,362 I mean, you know, that is if you're still interested. 799 00:35:41,363 --> 00:35:42,603 (CHUCKLES) Please. 800 00:35:44,923 --> 00:35:47,723 ♪ (CONTEMPLATIVE MUSIC PLAYING) ♪ 801 00:35:47,724 --> 00:35:49,642 Tell me how that was appropriate. 802 00:35:49,643 --> 00:35:51,322 ADLER: What's inappropriate is not drilling down 803 00:35:51,323 --> 00:35:52,842 on what this guy means by infrastructure. 804 00:35:52,843 --> 00:35:54,522 Is that our- our tech, our terminals? 805 00:35:54,523 --> 00:35:56,522 Is that the fucking building in Midtown? What? 806 00:35:56,523 --> 00:35:58,023 I'm sure that'll be shaken out. 807 00:35:58,923 --> 00:36:00,043 Go fuck yourself. 808 00:36:01,923 --> 00:36:04,362 I do that regularly, thank you. 809 00:36:04,363 --> 00:36:07,322 Can I ask what the actual fuck it is you're doing here? 810 00:36:07,323 --> 00:36:08,402 You're barely 40. 811 00:36:08,403 --> 00:36:10,802 You're a fucking British management consultant. 812 00:36:10,803 --> 00:36:12,082 Bill, calm down. 813 00:36:12,083 --> 00:36:14,002 What we need is a capital injection 814 00:36:14,003 --> 00:36:15,802 so we're not backed into a corner 815 00:36:15,803 --> 00:36:17,202 and into a deal not on our terms. 816 00:36:17,203 --> 00:36:18,362 We need thinking time. 817 00:36:18,363 --> 00:36:20,282 It's a Band-Aid. A Band-Aid is not a solution. 818 00:36:20,283 --> 00:36:21,882 Mitsubishi will tide us over. 819 00:36:21,883 --> 00:36:24,682 They want us to be us with no stipulations. 820 00:36:24,683 --> 00:36:27,123 There is no such thing as free money. 821 00:36:27,974 --> 00:36:32,122 We will thrash out a palatable acquisition 822 00:36:32,123 --> 00:36:33,682 multiple for all parties, 823 00:36:33,683 --> 00:36:35,802 but I guess we can now shake hands. 824 00:36:35,803 --> 00:36:36,922 (LAUGHS) 825 00:36:36,923 --> 00:36:38,642 That's pending dotting the i's and crossing the t's 826 00:36:38,643 --> 00:36:40,522 for the regulator. 827 00:36:40,523 --> 00:36:43,562 And we'll pen an announcement to cushion the share price. 828 00:36:43,563 --> 00:36:46,033 - WILHELMINA: This is great news. - MICHAEL: Yeah. 829 00:36:46,363 --> 00:36:48,443 (INDISTINCT CHATTER) 830 00:36:51,043 --> 00:36:53,093 ADLER: So, this is what death feels like. 831 00:36:53,763 --> 00:36:55,753 One hundred and fifty years to build it. 832 00:36:57,403 --> 00:36:59,603 Two-minute phone call to bring it all down. 833 00:37:18,123 --> 00:37:19,602 Bill can't behave like that 834 00:37:19,603 --> 00:37:21,893 when the rest of Barclays management come in. 835 00:37:24,163 --> 00:37:25,602 He has our best interests- 836 00:37:25,603 --> 00:37:28,193 Has he promised you the world if he comes out on top? 837 00:37:30,563 --> 00:37:32,323 He has a habit of doing that. 838 00:37:33,803 --> 00:37:36,573 Why is he turning this into a political zero-sum game? 839 00:37:37,883 --> 00:37:39,962 These factions, it's child's play. 840 00:37:39,963 --> 00:37:42,082 If we play this right and quell the infighting, 841 00:37:42,083 --> 00:37:43,722 everyone in the room will be safe. 842 00:37:43,723 --> 00:37:47,203 Do- Do I count as in the room? 843 00:37:49,363 --> 00:37:51,353 Get in Bill's ear, that's how you count. 844 00:37:52,483 --> 00:37:53,962 Bring him to heel. 845 00:37:53,963 --> 00:37:55,442 Convince him not to embarrass us 846 00:37:55,443 --> 00:37:58,093 in front of the people who are offering us a lifeline. 847 00:37:58,883 --> 00:38:00,002 (SCOFFS) 848 00:38:00,003 --> 00:38:02,533 You don't buy that BS about the workforce, do you? 849 00:38:04,083 --> 00:38:06,673 The guy usually pops a chub for reducing head count. 850 00:38:07,403 --> 00:38:08,543 He's weaponizing them. 851 00:38:08,984 --> 00:38:11,202 He's self-interested. 852 00:38:11,203 --> 00:38:14,003 He just wants to play Christ with the Mitsubishi plan. 853 00:38:14,763 --> 00:38:16,882 We both know it's not gonna work. 854 00:38:16,883 --> 00:38:20,323 And as far as he's concerned, you're a useful idiot. 855 00:38:28,683 --> 00:38:30,242 (WATER BURBLING) 856 00:38:30,243 --> 00:38:32,562 (YASMIN BREATHING DEEPLY) 857 00:38:32,563 --> 00:38:34,733 ♪ (CONTEMPLATIVE MUSIC CONCLUDES) ♪ 858 00:38:37,723 --> 00:38:40,643 ♪ ("MODULAR 4" BY GODFORD PLAYING) ♪ 859 00:39:10,403 --> 00:39:12,962 PETRA: Otto, look, I wouldn't be calling you 860 00:39:12,963 --> 00:39:15,242 if it wasn't a last resort, and I feel terrible 861 00:39:15,243 --> 00:39:16,722 about going behind her back, 862 00:39:16,723 --> 00:39:19,082 but I need my working relationships 863 00:39:19,083 --> 00:39:24,642 to be predicated on trust, and on that basis, I, uh- 864 00:39:24,643 --> 00:39:27,362 I think it's becoming untenable with Harper. 865 00:39:27,363 --> 00:39:28,962 Are you coming to bed? 866 00:39:28,963 --> 00:39:31,042 OTTO MOSTYN: Hmm. You're one of my best performing projects. 867 00:39:31,043 --> 00:39:32,562 What's happened? 868 00:39:32,563 --> 00:39:35,922 PETRA: She's being reckless with our AUM. 869 00:39:35,923 --> 00:39:37,083 Reckless how? 870 00:39:38,563 --> 00:39:39,613 Legally. 871 00:39:39,614 --> 00:39:41,402 OTTO: Hmm. 872 00:39:41,403 --> 00:39:43,842 You mean she's reckless with my money? 873 00:39:43,843 --> 00:39:47,643 That is simply something I cannot countenance. 874 00:39:48,104 --> 00:39:50,442 ♪ (SONG CONCLUDES) ♪ 875 00:39:50,443 --> 00:39:52,082 I'm sick of talking around the fact 876 00:39:52,083 --> 00:39:54,882 that you are solely to blame for Pierpoint's insolvency. 877 00:39:54,883 --> 00:39:57,802 It was a strategy agreed upon by a committee. 878 00:39:57,803 --> 00:39:59,322 It was only a committee when it failed. 879 00:39:59,323 --> 00:40:00,463 WILHELMINA: Bill, can... 880 00:40:04,283 --> 00:40:06,443 I have bad news. 881 00:40:07,363 --> 00:40:08,563 (SMACKS LIPS) Um... 882 00:40:08,584 --> 00:40:11,642 We need significantly more time 883 00:40:11,643 --> 00:40:13,442 to get us over the line with the regulator. 884 00:40:13,443 --> 00:40:15,402 We don't have any more time. 885 00:40:15,403 --> 00:40:17,442 (SIGHS) Talk straight. What's going on? 886 00:40:17,443 --> 00:40:18,722 ♪ (SUSPENSEFUL MUSIC PLAYING) ♪ 887 00:40:18,723 --> 00:40:20,642 Well, between us, I've just got off the phone 888 00:40:20,643 --> 00:40:21,722 with the chancellor, 889 00:40:21,723 --> 00:40:24,082 and he understands the gravity of the situation, 890 00:40:24,083 --> 00:40:26,282 but he can't be seen to be ratifying 891 00:40:26,283 --> 00:40:28,322 the effective bailout of another bank. 892 00:40:28,323 --> 00:40:30,202 He's on thin ice as it is, 893 00:40:30,203 --> 00:40:33,122 and he's got this bloody caucus of populist Tory backbenchers 894 00:40:33,123 --> 00:40:35,163 making his life... hell. 895 00:40:36,883 --> 00:40:39,723 So, yeah. Sorry, I can't be of more help. 896 00:40:39,724 --> 00:40:41,362 So, what? We- 897 00:40:41,363 --> 00:40:44,123 We're just at the mercy of someone else's ambition. 898 00:40:45,763 --> 00:40:46,813 Aren't we always? 899 00:40:48,963 --> 00:40:50,443 Look, I need to get some sleep. 900 00:40:52,003 --> 00:40:53,053 Best of luck. 901 00:40:56,843 --> 00:40:58,483 WOLSEY: Fuck! 902 00:40:58,484 --> 00:40:59,962 (DOOR CLOSES) 903 00:40:59,963 --> 00:41:02,193 EDDIE: So, this is what we have at the moment. 904 00:41:03,363 --> 00:41:05,762 The chancellor now looks like an ally 905 00:41:05,763 --> 00:41:08,402 of the financial sector's lawlessness 906 00:41:08,403 --> 00:41:10,922 and weak for kowtowing 907 00:41:10,923 --> 00:41:13,483 to an influential group of backbenchers. 908 00:41:14,123 --> 00:41:15,483 Led by his successor. 909 00:41:16,723 --> 00:41:19,402 Are we ready for that move? 910 00:41:19,403 --> 00:41:20,922 ALEXANDER NORTON: Maybe after the election. 911 00:41:20,923 --> 00:41:23,442 (KEYBOARD KEYS CLACKING) 912 00:41:23,443 --> 00:41:26,323 But these headlines won't hurt your chances. 913 00:41:31,123 --> 00:41:33,122 Eddie, thank you for staying so late. 914 00:41:33,123 --> 00:41:35,713 Let's have this online before the country wakes up. 915 00:41:35,963 --> 00:41:37,322 Got it. 916 00:41:37,323 --> 00:41:41,042 ♪ ("YOU MAKE ME FEEL (MIGHTY REAL)" BY JIMMY SOMERVILLE PLAYING) ♪ 917 00:41:41,043 --> 00:41:42,522 SWEETPEA: If he thinks this leads 918 00:41:42,523 --> 00:41:46,402 to a fashion-adjacent lifestyle, it's immediately a red flag. 919 00:41:46,403 --> 00:41:47,842 He was a hundred percent a misogynist, 920 00:41:47,843 --> 00:41:49,482 - and possibly a psychopath. - (LAUGHS) 921 00:41:49,483 --> 00:41:52,242 RISHI: What in the good fuck is going on? 922 00:41:52,243 --> 00:41:54,282 You better have sold the rest of my fucking positions. 923 00:41:54,283 --> 00:41:56,162 Where have you been? (CHUCKLES) 924 00:41:56,163 --> 00:41:57,793 I've been playing the fruities... 925 00:41:58,163 --> 00:41:59,242 with a client. 926 00:41:59,243 --> 00:42:02,322 Some, uh- Some guy keeps calling the desk for you. 927 00:42:02,323 --> 00:42:03,483 RISHI: Who? 928 00:42:05,243 --> 00:42:06,323 Vin? Vinnie? 929 00:42:06,923 --> 00:42:08,322 - Vinay? - That's the one. 930 00:42:08,323 --> 00:42:09,882 - RISHI: He called here? - Yeah. 931 00:42:09,883 --> 00:42:11,883 ANRAJ: You're a dickhead, bruv. 932 00:42:13,323 --> 00:42:14,603 A fucking dickhead. 933 00:42:15,443 --> 00:42:17,922 So, Anraj is on ecstasy. 934 00:42:17,923 --> 00:42:20,962 He was catatonic drunk, but hey, he insisted, 935 00:42:20,963 --> 00:42:23,602 and, well, we dragged some people to the floor 936 00:42:23,603 --> 00:42:27,723 and, hey, they can't fire us twice, right? (LAUGHS) 937 00:42:28,443 --> 00:42:30,162 You bully me 938 00:42:30,163 --> 00:42:31,642 'cause you were bullied at school, innit? 939 00:42:31,643 --> 00:42:32,682 Shut the fuck up! 940 00:42:32,683 --> 00:42:35,042 No, you're pure small-man syndrome, bruv. 941 00:42:35,043 --> 00:42:36,322 You got no taste, bruv. 942 00:42:36,323 --> 00:42:38,122 Look at your car, your taste level's dead. 943 00:42:38,123 --> 00:42:39,522 Why didn't you sell my fucking axes? 944 00:42:39,523 --> 00:42:41,202 Your IG Explore page must be 945 00:42:41,203 --> 00:42:43,322 - a crime against humanity! - Shut the fuck up! 946 00:42:43,323 --> 00:42:44,762 ANRAJ: No, I'm done being quiet. 947 00:42:44,763 --> 00:42:46,562 Now, look- look, we're not- we're not sick, Rishi. 948 00:42:46,563 --> 00:42:48,722 We're not gonna play Santa, wrapping coal in a bow 949 00:42:48,723 --> 00:42:49,842 for your clients. 950 00:42:49,843 --> 00:42:52,282 We're not gonna torch our reputations in the market 951 00:42:52,283 --> 00:42:54,722 selling your worthless positions. 952 00:42:54,723 --> 00:42:58,083 Huh? Why would we? To what end, anyway? 953 00:43:01,843 --> 00:43:03,083 Best of luck drowning. 954 00:43:08,083 --> 00:43:09,243 Fuck. 955 00:43:11,363 --> 00:43:13,162 (CROWD CHEERING) 956 00:43:13,163 --> 00:43:15,843 (COUPLE MOANING) 957 00:43:20,483 --> 00:43:22,403 ♪ (SONG FADES) ♪ 958 00:43:22,404 --> 00:43:24,602 WOLSEY: What's the time, please? 959 00:43:24,603 --> 00:43:26,442 WILHELMINA: It's just gone 4:00 a.m. 960 00:43:26,443 --> 00:43:29,153 - ♪ (SUSPENSEFUL MUSIC PLAYING) ♪ - WOLSEY: Okay. 961 00:43:29,683 --> 00:43:32,402 We have around ten hours till U.S. open. 962 00:43:32,403 --> 00:43:34,002 Put a fucking solution in front of me. 963 00:43:34,003 --> 00:43:35,202 Mitsubishi is still in play. 964 00:43:35,203 --> 00:43:36,802 I can wake the head of their London office. 965 00:43:36,803 --> 00:43:38,122 They- They want this as much as us. 966 00:43:38,123 --> 00:43:39,842 This solve is not viable long term, 967 00:43:39,843 --> 00:43:41,242 given the state of our balance sheet. 968 00:43:41,243 --> 00:43:43,722 To assuage market fears, all that matters is we can prove 969 00:43:43,723 --> 00:43:45,042 we plugged the immediate hole. 970 00:43:45,043 --> 00:43:47,402 Why do you keep talking when the value add of your ideas 971 00:43:47,403 --> 00:43:48,522 is less than zero? 972 00:43:48,523 --> 00:43:50,513 - (CHUCKLES) - WOLSEY: We need to pivot. 973 00:43:50,683 --> 00:43:52,122 Mitsubishi? 974 00:43:52,123 --> 00:43:54,043 Wake them up. Get them in the room. 975 00:43:55,643 --> 00:43:56,763 (FOOTSTEPS DEPART) 976 00:43:57,683 --> 00:44:01,603 (ADLER SPEAKING JAPANESE) 977 00:44:01,604 --> 00:44:03,402 (FINGERS SNAPPING) 978 00:44:03,403 --> 00:44:04,922 Yes! 979 00:44:04,923 --> 00:44:06,082 (IN ENGLISH) It's on. It's on. 980 00:44:06,083 --> 00:44:07,322 (SNAPS FINGERS) Eric. 981 00:44:07,323 --> 00:44:09,883 (INDISTINCT CHATTER) 982 00:44:11,563 --> 00:44:13,683 ADLER: It's a good thing Tom said yes. 983 00:44:13,684 --> 00:44:16,242 I soft launched this to Mitsubishi's 984 00:44:16,243 --> 00:44:18,522 European Executive Committee already. 985 00:44:18,523 --> 00:44:20,082 ERIC: It's lunchtime in Japan, right? 986 00:44:20,083 --> 00:44:21,362 Uh, they're just in from Düsseldorf, 987 00:44:21,363 --> 00:44:22,522 where the European subsidiary is. 988 00:44:22,523 --> 00:44:23,762 Now, they're gonna come with terms 989 00:44:23,763 --> 00:44:24,882 that Tom finds attractive, 990 00:44:24,883 --> 00:44:26,362 because I've prepped them on the financials. 991 00:44:26,363 --> 00:44:28,802 So, let's take a fast 20 and call an associate in IBD up 992 00:44:28,803 --> 00:44:30,853 to triple-check the numbers in the deck. 993 00:44:30,883 --> 00:44:31,933 No missteps. 994 00:44:32,603 --> 00:44:34,763 Fast 20 still takes 20. 995 00:44:36,523 --> 00:44:38,273 WOLSEY: I need stronger nicotine. 996 00:44:39,083 --> 00:44:41,402 Any delivery vessel, I'm beyond caring. 997 00:44:41,403 --> 00:44:44,283 YASMIN: Ow! Ow! 998 00:44:44,963 --> 00:44:46,922 (GROANING) 999 00:44:46,923 --> 00:44:48,493 - (CONTINUES GROANING) - Yas? 1000 00:44:48,523 --> 00:44:49,882 (YASMIN GROANS) 1001 00:44:49,883 --> 00:44:51,362 ♪ (SUSPENSEFUL MUSIC CONCLUDES) ♪ 1002 00:44:51,363 --> 00:44:52,643 Ow! 1003 00:44:53,723 --> 00:44:56,682 I just wanted to make a cup of tea. 1004 00:44:56,683 --> 00:44:57,802 What the fuck have you done? 1005 00:44:57,803 --> 00:44:59,722 - (GROANS) - Hey, come here, come here. 1006 00:44:59,723 --> 00:45:00,802 - (GROANS) - Are you hurt? 1007 00:45:00,803 --> 00:45:01,922 (GROANS) 1008 00:45:01,923 --> 00:45:04,002 Hey, hey. Yas, look at me. 1009 00:45:04,003 --> 00:45:06,242 - Have you taken something? Yeah? - Uh-huh. 1010 00:45:06,243 --> 00:45:07,362 What have you taken? 1011 00:45:07,363 --> 00:45:10,602 Rob, do you think I'm a bad person? 1012 00:45:10,603 --> 00:45:11,762 No. 1013 00:45:11,763 --> 00:45:14,442 - No, you're not a bad person. - You do. Rob, look at me. 1014 00:45:14,443 --> 00:45:16,282 Tell me that you think that I'm a bad person. 1015 00:45:16,283 --> 00:45:17,442 Look, you're not a bad person! 1016 00:45:17,443 --> 00:45:20,042 Tell me that I'm allowed to want to do bad things. 1017 00:45:20,043 --> 00:45:22,243 (PANTS) What? 1018 00:45:24,323 --> 00:45:25,522 You can do what you want. 1019 00:45:25,523 --> 00:45:29,243 (MOANS, SOBS) I want you. 1020 00:45:30,123 --> 00:45:32,282 I want you. Oh, you're hard. 1021 00:45:32,283 --> 00:45:33,842 - ROBERT: What are you doing? No! - (CHUCKLES) 1022 00:45:33,843 --> 00:45:34,922 - Stop. - I want you. 1023 00:45:34,923 --> 00:45:36,963 Stop! Stop! Stop! Stop! 1024 00:45:37,643 --> 00:45:38,693 Stop! 1025 00:45:39,443 --> 00:45:40,493 Stop! 1026 00:45:42,163 --> 00:45:44,563 ♪ (SOFT MUSIC PLAYING) ♪ 1027 00:45:45,963 --> 00:45:48,723 Henry used to get hard when I cried, too. 1028 00:45:54,283 --> 00:45:55,403 Hey. Shh. 1029 00:45:56,283 --> 00:45:58,003 (YASMIN BREATHES DEEPLY) 1030 00:46:02,363 --> 00:46:04,922 (URINE TRICKLING) 1031 00:46:04,923 --> 00:46:07,333 WOLSEY: Bill tells me you've been here 30 years. 1032 00:46:07,883 --> 00:46:09,003 Aren't you bored? 1033 00:46:10,403 --> 00:46:11,963 ♪ (SOFT MUSIC CONCLUDES) ♪ 1034 00:46:13,363 --> 00:46:15,833 Been dropped into a few of these restructurings. 1035 00:46:16,883 --> 00:46:20,123 They all have their own mythos and history, but... 1036 00:46:21,283 --> 00:46:23,402 ultimately, they're much for muchness. 1037 00:46:23,403 --> 00:46:24,803 They're corporations. 1038 00:46:25,523 --> 00:46:26,573 (ZIPPER ZIPS) 1039 00:46:27,243 --> 00:46:28,323 Not the people. 1040 00:46:29,963 --> 00:46:32,253 - The people are different. - Are they really? 1041 00:46:33,344 --> 00:46:35,962 There's a self-centeredness 1042 00:46:35,963 --> 00:46:38,523 at the heart of Bill's romanticization of it all. 1043 00:46:39,363 --> 00:46:40,563 False heroism. 1044 00:46:40,564 --> 00:46:43,802 Do you think there's room for nobility in there? 1045 00:46:43,803 --> 00:46:44,883 (ZIPPER ZIPS) 1046 00:46:49,683 --> 00:46:51,842 (WATER RUNNING) 1047 00:46:51,843 --> 00:46:53,602 I was hoping Bill would be my mouthpiece 1048 00:46:53,603 --> 00:46:56,602 to the wider Pierpoint family, but... 1049 00:46:56,603 --> 00:46:59,003 he seems like more of a problem than a solution. 1050 00:47:04,643 --> 00:47:06,203 You're not a romantic, are you? 1051 00:47:07,003 --> 00:47:08,163 What do you believe in? 1052 00:47:09,123 --> 00:47:11,363 ♪ (TENSE MUSIC PLAYING) ♪ 1053 00:47:12,963 --> 00:47:14,343 I don't believe in anything. 1054 00:47:15,683 --> 00:47:18,363 I believe in the trade, when it works... 1055 00:47:19,683 --> 00:47:21,243 when it stops working. 1056 00:47:28,163 --> 00:47:29,802 By the way, 1057 00:47:29,803 --> 00:47:32,693 nostalgia's only useful when you're selling something. 1058 00:47:35,603 --> 00:47:36,653 (DOOR OPENS) 1059 00:47:38,963 --> 00:47:40,282 (DOOR CLOSES) 1060 00:47:40,283 --> 00:47:42,633 ADLER: Any color that'll help us in the pitch? 1061 00:47:44,163 --> 00:47:45,802 Nope. 1062 00:47:45,803 --> 00:47:47,913 - (ZIPPER UNZIPS) - A whole lot of nothing. 1063 00:47:48,203 --> 00:47:50,202 (URINE TRICKLING) 1064 00:47:50,203 --> 00:47:52,013 ADLER: Deck look good to your eyes? 1065 00:47:56,403 --> 00:47:57,453 Perfect. 1066 00:47:59,763 --> 00:48:01,123 (ADLER LAUGHS) 1067 00:48:02,323 --> 00:48:05,243 - I'll see you out there. - ADLER: I'll see you out there. 1068 00:48:08,563 --> 00:48:11,603 (ADLER GREETS IN JAPANESE) 1069 00:48:14,363 --> 00:48:18,362 (CELL PHONE BUZZING) 1070 00:48:18,363 --> 00:48:20,603 WOLSEY: Thank you for meeting us so early. 1071 00:48:22,163 --> 00:48:24,483 I'm sorry it's a little ripe in here. 1072 00:48:26,763 --> 00:48:29,233 - Where the hell are you going? - I gotta take this. 1073 00:48:32,683 --> 00:48:34,913 Thanks for calling me back. Sorry it's early. 1074 00:48:35,763 --> 00:48:38,922 Bill Adler told me about a connection 1075 00:48:38,923 --> 00:48:40,162 that landed you on my desk. 1076 00:48:40,163 --> 00:48:42,163 Can you flesh that out for me a little? 1077 00:48:43,923 --> 00:48:45,403 (SEAGULLS SQUAWKING) 1078 00:48:45,404 --> 00:48:47,682 RECEPTIONIST: Did you enjoy your stay? 1079 00:48:47,683 --> 00:48:49,282 Very much. Thank you. 1080 00:48:49,283 --> 00:48:51,562 ♪ ("BEGIN AGAIN" BY FREDDIE AND THE SCENARIOS, DIEGO HERRERA PLAYING OVER RADIO) ♪ 1081 00:48:51,563 --> 00:48:53,043 Did you want a bandage? 1082 00:48:55,443 --> 00:48:56,493 Sure. 1083 00:49:03,243 --> 00:49:04,643 Do you reckon she's a Libra? 1084 00:49:05,683 --> 00:49:07,242 (SCOFFS) 1085 00:49:07,243 --> 00:49:11,042 Uh, I threw in an extra 20 quid for the busted kettle. 1086 00:49:11,043 --> 00:49:14,003 - RECEPTIONIST: Oh, thanks. - Ah, it's all right. Uh, cheers. 1087 00:49:14,923 --> 00:49:15,973 Cheers. 1088 00:49:17,163 --> 00:49:18,213 Have a safe trip. 1089 00:49:21,003 --> 00:49:24,122 ADLER: Our proposal is that the Mitsubishi Financial Group 1090 00:49:24,123 --> 00:49:26,362 invest nine billion dollars in equity 1091 00:49:26,363 --> 00:49:29,762 in Pierpoint for a 19-percent interest in the company 1092 00:49:29,763 --> 00:49:31,443 on a fully diluted basis. 1093 00:49:36,163 --> 00:49:38,802 How did that get there? (CHUCKLES) 1094 00:49:38,803 --> 00:49:41,002 As I was saying, our friends at Mitsubishi 1095 00:49:41,003 --> 00:49:42,682 are the best partners we could have. 1096 00:49:42,683 --> 00:49:44,322 They have enough dry powder 1097 00:49:44,323 --> 00:49:45,802 to buy up our distressed debt 1098 00:49:45,803 --> 00:49:48,242 and to support the other assets on our books. 1099 00:49:48,243 --> 00:49:49,923 And they want us to be us. 1100 00:49:50,843 --> 00:49:53,082 They have reverence for our name. 1101 00:49:53,083 --> 00:49:55,682 We want to help build Pierpoint back to what it could be 1102 00:49:55,683 --> 00:49:57,763 in its 150th year. 1103 00:49:59,563 --> 00:50:02,402 We expect a very healthy ROI for you 1104 00:50:02,403 --> 00:50:04,522 on a decade-long horizon, 1105 00:50:04,523 --> 00:50:07,593 but of course, apologies for the small inaccuracy on page 12. 1106 00:50:08,883 --> 00:50:10,323 (PAGES RUSTLING) 1107 00:50:12,643 --> 00:50:14,202 ADLER: What inaccuracy? 1108 00:50:14,203 --> 00:50:17,603 I am assuming this reference is linked incorrectly. 1109 00:50:18,643 --> 00:50:22,242 It looks like you are linking to enterprise value 1110 00:50:22,243 --> 00:50:24,043 instead of equity value. 1111 00:50:25,003 --> 00:50:26,882 It's causing a 15-percent decrease 1112 00:50:26,883 --> 00:50:28,402 in the true PE multiple, 1113 00:50:28,403 --> 00:50:31,722 which should otherwise be seven-point-six times, 1114 00:50:31,723 --> 00:50:34,122 well below peers. 1115 00:50:34,123 --> 00:50:36,122 ♪ (SUSPENSEFUL MUSIC PLAYING) ♪ 1116 00:50:36,123 --> 00:50:37,873 ADLER: I'm so sorry we missed this. 1117 00:50:39,443 --> 00:50:42,162 That's like a two-to-three percent uplift in IRR. 1118 00:50:42,163 --> 00:50:44,162 WOLSEY: After ten years of what we know 1119 00:50:44,163 --> 00:50:47,442 will be a mutually beneficial relationship. 1120 00:50:47,443 --> 00:50:48,802 ADLER: How could we have missed that? 1121 00:50:48,803 --> 00:50:50,642 It's sloppy. (CHUCKLES) 1122 00:50:50,643 --> 00:50:51,842 - Eric. - (CHUCKLES) 1123 00:50:51,843 --> 00:50:54,642 ERIC: Bill, it's fine. Leave it. It's late. 1124 00:50:54,643 --> 00:50:58,283 (CHUCKLES) It happens. It's just a book. 1125 00:50:58,284 --> 00:51:01,002 That's a huge decrease in the valuation. 1126 00:51:01,003 --> 00:51:02,323 How didn't I spot it? 1127 00:51:02,963 --> 00:51:04,403 Bill, you did spot it. 1128 00:51:05,723 --> 00:51:07,722 ADLER: What? When? 1129 00:51:07,723 --> 00:51:09,842 We ran through it about an hour ago. 1130 00:51:09,843 --> 00:51:13,202 I raised it again in the bathroom just now. 1131 00:51:13,203 --> 00:51:15,882 You said it wasn't a deal-breaker in the room, 1132 00:51:15,883 --> 00:51:17,762 that they know the numbers already, 1133 00:51:17,763 --> 00:51:20,842 which they do. (CHUCKLES) 1134 00:51:20,843 --> 00:51:23,042 - We can move on. - (CHUCKLES) 1135 00:51:23,043 --> 00:51:24,443 That- That didn't happen. 1136 00:51:26,483 --> 00:51:27,533 Did it? 1137 00:51:28,683 --> 00:51:30,842 It's not mission critical here. 1138 00:51:30,843 --> 00:51:33,283 No, it is. When did we discuss it? 1139 00:51:33,394 --> 00:51:36,362 I- I don't think we did, did we? 1140 00:51:36,363 --> 00:51:39,202 - Maybe I'm just misremembering. - I think you can move on. 1141 00:51:39,203 --> 00:51:41,202 You- You have to understand it's very important 1142 00:51:41,203 --> 00:51:42,953 - that I didn't misremember. - Bill. 1143 00:51:45,483 --> 00:51:46,533 What's going on? 1144 00:51:48,283 --> 00:51:49,333 ERIC: Hey, Bill. 1145 00:51:52,043 --> 00:51:53,283 There's no shame. 1146 00:51:56,323 --> 00:51:59,563 ADLER: (CHUCKLES) I'm so- I'm so sorry, if... 1147 00:51:59,964 --> 00:52:02,042 I've been quite sick, 1148 00:52:02,043 --> 00:52:03,562 and I- I really didn't wanna bring it up 1149 00:52:03,563 --> 00:52:04,762 in this forum, but, uh... 1150 00:52:04,763 --> 00:52:07,362 You are fit to continue. 1151 00:52:07,363 --> 00:52:09,123 - (ADLER SCOFFS) - (CHAIR CREAKS) 1152 00:52:10,363 --> 00:52:11,882 WOLSEY: Uh, gentlemen, 1153 00:52:11,883 --> 00:52:14,922 and, uh... lady, 1154 00:52:14,923 --> 00:52:16,443 could you give us five? 1155 00:52:16,444 --> 00:52:19,802 This isn't what we expect in these circumstances. 1156 00:52:19,803 --> 00:52:22,762 No, there should be multiple layers of review. 1157 00:52:22,763 --> 00:52:23,923 My apologies. 1158 00:52:38,483 --> 00:52:40,882 ADLER: (CHUCKLES) I- 1159 00:52:40,883 --> 00:52:42,962 I'm so sorry. I should have just breezed past it, 1160 00:52:42,963 --> 00:52:44,922 but it's- it's quite important- 1161 00:52:44,923 --> 00:52:46,642 it's quite important for my prognosis. 1162 00:52:46,643 --> 00:52:47,783 What's wrong with you? 1163 00:52:49,963 --> 00:52:51,523 I have a malignant tumor. I... 1164 00:52:51,524 --> 00:52:55,002 I've not noticed much, if any, cognitive impairment. 1165 00:52:55,003 --> 00:52:56,242 - That's why it's- - And you've been 1166 00:52:56,243 --> 00:52:57,563 keeping this to yourself? 1167 00:53:02,963 --> 00:53:04,163 You shouldn't be in here. 1168 00:53:04,164 --> 00:53:07,042 Your health is of paramount importance. 1169 00:53:07,043 --> 00:53:09,162 My performance has never been compromised. 1170 00:53:09,163 --> 00:53:10,963 Apart from when it just mattered. 1171 00:53:12,283 --> 00:53:14,882 High stress, no sleep. 1172 00:53:14,883 --> 00:53:17,233 This isn't the place for a sick man. (CHUCKLES) 1173 00:53:18,003 --> 00:53:19,053 Look... 1174 00:53:19,054 --> 00:53:22,322 I want you to go home. That isn't a suggestion. 1175 00:53:22,323 --> 00:53:24,562 I'm fit to work if I say I'm fit to work. 1176 00:53:24,563 --> 00:53:27,123 I want you to go rest. 1177 00:53:28,523 --> 00:53:29,573 WILHELMINA: Eric... 1178 00:53:31,243 --> 00:53:32,763 why don't you put Bill in a cab? 1179 00:53:37,203 --> 00:53:38,253 (SNIFFLES) 1180 00:53:42,523 --> 00:53:43,573 Come on. 1181 00:53:44,323 --> 00:53:45,723 It's okay. Come on. 1182 00:53:54,763 --> 00:53:57,243 ♪ (SUSPENSEFUL MUSIC CONCLUDES) ♪ 1183 00:54:05,603 --> 00:54:07,723 ♪ (TENSE MUSIC PLAYING) ♪ 1184 00:54:09,323 --> 00:54:10,723 (DIAL TONE RINGING) 1185 00:54:13,774 --> 00:54:16,842 - DENISE: (OVER PHONE) Hello? - Hi. 1186 00:54:16,843 --> 00:54:19,802 Denise, um, I've slept on it, 1187 00:54:19,803 --> 00:54:22,282 and I don't want to take Rose's offer. 1188 00:54:22,283 --> 00:54:25,362 And I know- I have thought about the implications... 1189 00:54:25,363 --> 00:54:27,642 - (DENISE SIGHS) - ...but it's Rose and Hanani, okay? 1190 00:54:27,643 --> 00:54:29,162 They're the ones that are being inhumane, 1191 00:54:29,163 --> 00:54:31,042 and you can think that I'm meeting them on their level 1192 00:54:31,043 --> 00:54:32,482 if you want, that's fine, 1193 00:54:32,483 --> 00:54:35,402 but they have literally given me no choice. 1194 00:54:35,403 --> 00:54:36,802 DENISE: Have you stopped to think about 1195 00:54:36,803 --> 00:54:38,362 how this is gonna affect the other victims? 1196 00:54:38,363 --> 00:54:39,402 Yes, of course! 1197 00:54:39,403 --> 00:54:40,922 Of course I have thought about that, Denise! 1198 00:54:40,923 --> 00:54:42,002 Of course I have! 1199 00:54:42,003 --> 00:54:45,163 But you have to understand, it is them or it is me! 1200 00:54:47,163 --> 00:54:48,213 (CELL PHONE THUDS) 1201 00:54:52,704 --> 00:54:55,722 ♪ (TENSE MUSIC CONCLUDES) ♪ 1202 00:54:55,723 --> 00:54:56,922 - (ROBERT SIGHS) - How was it? 1203 00:54:56,923 --> 00:54:59,122 (ROBERT PANTS) 1204 00:54:59,123 --> 00:55:01,602 So, they've had their funding 1205 00:55:01,603 --> 00:55:03,362 from the university totally cut off. 1206 00:55:03,363 --> 00:55:04,602 They balked at the idea 1207 00:55:04,603 --> 00:55:06,362 of any commercial application of psychedelics, 1208 00:55:06,363 --> 00:55:08,002 only lab-conditioned trials 1209 00:55:08,003 --> 00:55:10,362 on treatment for various mental disorders. 1210 00:55:10,363 --> 00:55:11,762 YASMIN: Why? 1211 00:55:11,763 --> 00:55:14,643 ROBERT: Well, it's still illegal, but LittleLabs, 1212 00:55:15,483 --> 00:55:17,442 they want to be the first mover. 1213 00:55:17,443 --> 00:55:20,363 Now, imagine being early on cannabis in California. 1214 00:55:21,603 --> 00:55:23,563 - Sorry. - ROBERT: Well, no. 1215 00:55:24,523 --> 00:55:26,762 See, they've been flirting with the idea 1216 00:55:26,763 --> 00:55:28,682 of relocating to Silicon Valley. 1217 00:55:28,683 --> 00:55:31,322 All right? And they said if I can help unlock VC dollars 1218 00:55:31,323 --> 00:55:32,722 for them out there, 1219 00:55:32,723 --> 00:55:34,533 then there might be a position open. 1220 00:55:34,534 --> 00:55:37,562 - Head of business development. - What? 1221 00:55:37,563 --> 00:55:38,802 - Yeah, I know. - (YASMIN CHUCKLES) 1222 00:55:38,803 --> 00:55:40,562 - I couldn't believe it as well. - (YASMIN CHUCKLES) 1223 00:55:40,563 --> 00:55:42,002 - (LAUGHS) - YASMIN: So, wait- wait. 1224 00:55:42,003 --> 00:55:45,123 Would that mean that you move to the States? 1225 00:55:45,683 --> 00:55:46,733 Maybe. 1226 00:55:48,643 --> 00:55:49,693 Here. 1227 00:55:52,123 --> 00:55:53,203 (CHUCKLES) 1228 00:55:53,603 --> 00:55:54,653 Hmm. 1229 00:55:54,654 --> 00:55:56,442 Sleep will help. I'll, uh- 1230 00:55:56,443 --> 00:55:58,922 I'll get a couple more hours and come straight back in. 1231 00:55:58,923 --> 00:56:01,122 I don't think anyone in there wants that. 1232 00:56:01,123 --> 00:56:04,442 - ♪ (TENSE MUSIC PLAYING) ♪ - Stay home. For yourself. 1233 00:56:04,443 --> 00:56:06,763 I'll smooth out Mitsubishi. It'll work. 1234 00:56:08,803 --> 00:56:10,963 ERIC: Peer to peer, stay home. 1235 00:56:11,803 --> 00:56:13,283 More time for your family. 1236 00:56:15,003 --> 00:56:16,923 The institution doesn't suffer. 1237 00:56:24,083 --> 00:56:26,733 - (ELEVATOR DINGS) - AUTOMATED VOICE: Door opening. 1238 00:56:29,763 --> 00:56:31,443 You made me distrust my... 1239 00:56:36,283 --> 00:56:37,363 For what? 1240 00:56:43,763 --> 00:56:45,323 AUTOMATED VOICE: Door closing. 1241 00:57:00,923 --> 00:57:03,483 ♪ (TENSE MUSIC CONTINUES) ♪ 1242 00:57:21,403 --> 00:57:22,603 (CAR ENGINE REVVING) 1243 00:57:23,203 --> 00:57:24,563 (BRAKES SCREECH) 1244 00:57:26,243 --> 00:57:27,293 You Harper Stern? 1245 00:57:28,443 --> 00:57:29,602 Yeah. 1246 00:57:29,603 --> 00:57:32,083 Otto wants to see you. Get in the car. 1247 00:57:34,563 --> 00:57:35,613 Now? 1248 00:57:36,163 --> 00:57:37,213 He'd prefer it. 1249 00:58:01,523 --> 00:58:04,113 WOLSEY: Well, I hope he's getting the care he needs. 1250 00:58:05,443 --> 00:58:07,443 I've heard that... 1251 00:58:09,003 --> 00:58:11,773 - tumors can have certain... - ♪ (TENSE MUSIC FADES) ♪ 1252 00:58:12,123 --> 00:58:13,282 ...neurological effects 1253 00:58:13,283 --> 00:58:15,723 as pertains to people's willingness 1254 00:58:16,203 --> 00:58:18,163 to take risk. 1255 00:58:23,523 --> 00:58:26,682 Well, while I take some responsibility 1256 00:58:26,683 --> 00:58:29,323 for my bullishness over ESG as a concept... 1257 00:58:29,324 --> 00:58:33,482 Bill had the underlying relationship with Debt Syndicate 1258 00:58:33,483 --> 00:58:35,762 from his bond trading days. 1259 00:58:35,763 --> 00:58:39,443 He was the one pushing their appetite for risk. 1260 00:58:41,443 --> 00:58:42,493 Yes. 1261 00:58:43,443 --> 00:58:46,883 Fixed income was more Bill's background. 1262 00:58:46,884 --> 00:58:49,682 You know, we can't let someone go 1263 00:58:49,683 --> 00:58:51,843 because of their declining health... 1264 00:58:54,803 --> 00:58:55,853 but... 1265 00:58:58,483 --> 00:58:59,533 Eric... 1266 00:59:01,363 --> 00:59:04,002 as the closest to him, 1267 00:59:04,003 --> 00:59:07,802 if you think an indefinite period of absence 1268 00:59:07,803 --> 00:59:11,322 would be in his best interest... 1269 00:59:11,323 --> 00:59:13,562 ♪ (CONTEMPLATIVE MUSIC PLAYING) ♪ 1270 00:59:13,563 --> 00:59:17,002 ...it is something our executive committee 1271 00:59:17,003 --> 00:59:20,043 would be willing to consider. 1272 00:59:22,723 --> 00:59:23,882 WILHELMINA: Hmm. 1273 00:59:23,883 --> 00:59:27,003 He has seemed a little... 1274 00:59:28,043 --> 00:59:29,283 out of sorts. 1275 00:59:30,563 --> 00:59:31,683 (WOLSEY SIGHS) 1276 00:59:37,563 --> 00:59:40,123 While I respect the rules of the game... 1277 00:59:41,683 --> 00:59:44,802 I find pinning this all on a sick man 1278 00:59:44,803 --> 00:59:46,403 morally unconscionable. 1279 00:59:48,843 --> 00:59:52,243 But tomorrow is more important than yesterday for Pierpoint. 1280 00:59:54,203 --> 00:59:55,253 (WOLSEY CHUCKLES) 1281 00:59:55,763 --> 00:59:57,322 (BREATHES DEEPLY) 1282 00:59:57,323 --> 00:59:58,602 ♪ (CONTEMPLATIVE MUSIC FADES) ♪ 1283 00:59:58,603 --> 01:00:00,322 So, fuck him then, right? 1284 01:00:00,323 --> 01:00:04,043 ♪ ("BOMBTRACK" BY RAGE AGAINST THE MACHINE PLAYING) ♪ 1285 01:00:05,123 --> 01:00:06,963 (LAUGHS) 1286 01:00:07,643 --> 01:00:09,602 Is Mitsubishi worth pursuing? 1287 01:00:09,603 --> 01:00:11,402 It's a Band-Aid. No more. 1288 01:00:11,403 --> 01:00:13,402 Phillip was onto something when he told us 1289 01:00:13,403 --> 01:00:15,642 that we should be looking towards the Gulf. 1290 01:00:15,643 --> 01:00:18,363 So, I've brokered an introduction. 1291 01:00:21,723 --> 01:00:23,523 ERIC: Ali. Gentlemen. 1292 01:00:24,323 --> 01:00:26,003 It's Pierpoint's anniversary. 1293 01:00:28,123 --> 01:00:30,523 How would you like to buy a piece of history? 1294 01:00:33,643 --> 01:00:34,923 ♪ Uh ♪ 1295 01:00:38,403 --> 01:00:41,243 ♪ Ayy, yo It's just another bombtrack ♪ 1296 01:00:42,403 --> 01:00:43,483 ♪ Uh ♪ 1297 01:00:50,843 --> 01:00:53,723 ♪ Ayy, yo It's just another bombtrack ♪ 1298 01:00:54,963 --> 01:00:56,013 ♪ Yeah ♪ 1299 01:00:58,083 --> 01:01:00,362 ♪ It goes a one, two, three ♪ 1300 01:01:00,363 --> 01:01:02,682 ♪ Yeah, and it's just Another bombtrack ♪ 1301 01:01:02,683 --> 01:01:04,882 ♪ And suckers be thinkin' That they can fake this ♪ 1302 01:01:04,883 --> 01:01:07,362 ♪ But I'ma drop it At a higher level ♪ 1303 01:01:07,363 --> 01:01:09,722 ♪ 'Cause I'm inclined To stoop down ♪ 1304 01:01:09,723 --> 01:01:11,362 ♪ Hand out some beatdowns ♪ 1305 01:01:11,363 --> 01:01:13,162 ♪ Could run a train On punk fools ♪ 1306 01:01:13,163 --> 01:01:14,762 ♪ That think they run the game ♪ 1307 01:01:14,763 --> 01:01:17,802 ♪ But I learned to burn That bridge and delete ♪ 1308 01:01:17,803 --> 01:01:20,802 ♪ Those who compete At a level that's obsolete ♪ 1309 01:01:20,803 --> 01:01:23,642 ♪ Instead, I warm my hands Upon the flames of the flag ♪ 1310 01:01:23,643 --> 01:01:26,202 ♪ To recall the downfall And the businesses ♪ 1311 01:01:26,203 --> 01:01:27,322 ♪ That burnt us all ♪ 1312 01:01:27,323 --> 01:01:33,003 ♪ Burn, burn Yes, you're gonna burn ♪ 1313 01:01:33,523 --> 01:01:34,602 ♪ Burn ♪ 1314 01:01:34,603 --> 01:01:35,863 ♪ (SONG CONCLUDES) ♪ 1315 01:01:35,893 --> 01:01:40,443 Repair and Synchronization by Easy Subtitles Synchronizer 1.0.0.0 98311

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