Arbitrage

But you took a huge bet

on the housing crisis

in the middle of the biggest boom

in housing

anybody has ever seen. Why?

I'm a child of the '50s.

My father welded steel for the Navy

and my mother worked at the v.A.

They lived through the Depression,

Pearl Harbor, and the bomb.

They didn't think that bad things

might happen.

They knew that bad things would happen.

Is that what's happening now?

When I was a kid, my favorite

teacher was Mr. James.

Mr. James said world events all

revolve around five things.

M, O, N, E, Y.

This is freshman econ?

No, it was a fifth grade econ.

But this is something we've seen

over and over again.

Time and time again.

The competition for this limited

amount of dollars out there

can make the best of us manic.

So it's not surprising that we have

these asset bubbles.

But when reality sets in, of course,

they burst.

As worries over the pace of

economic growth here at home

and geopolitical turmoil weighed

on the broad averages.

Commodities continued a historic

run-up in price.

Take a look at the dramatic move

in copper prices, for example.

As that once quiet market has

become a hotbed of activity.

You're disappointed.

Quants?

Derivative structures?

What was that about?

It makes no sense.

That's what you said last time.

Why'd we go down there?

- To sign.

- To sign?

- Did we sign?

- No.

No, we did not.

Instead, I flew 2,000 miles

for a marketing meeting.

Where was Mayfield?

What's this emergency?

What was that about?

You speak to the auditors?

Why?

What if we don't sign this week?

See you, bye.

Look who's here!

Wait a minute! How'd you know

I had something there?

No fighting! No fighting!

- We had to start. The kids were starving.

- That's okay.

Dad, it's your birthday.

You're spoiling them rotten.

It's my job! You guys turned out fine.

Debatable.

- How you doing, Son?

- How'd it go?

Where's my drink? This is mine here?

Happy birthday!

Hey, kids? Come on.

I need some help. I can't do this by myself.

First of all you've got to make a wish.

Make a really good wish.

Can you help me out?

Wish and then we go on three.

What are you going to wish for?

One.

Two. Three.

Awesome!

- Speech. Speech.

- Thank you. Thank you, thank you.

Thank you all very much.

It was such a surprise.

I didn't even know it was my birthday.

What did Mark Twain say about that?

He said, "Old age

is clearly a case of mind over matter."

"If you don't mind it doesn't matter."

I've done a lot of things in my life.

I've worked very hard.

But being here, looking around

at all these shining, radiant faces.

I know that my best work is right here.

In this room right now.

I'm deeply proud of all of you.

And that's the best gift your mom

and I could ever hope for. So thank you...

And to have sold the company

to Standard this morning.

Yes, that's true.

But no business tonight. No business.

Although your one-pointed mind

assures me that you have

not only your mom's genes,

you've got mine, too.

I know it's very uncharacteristic of me,

but I just want you to know

that it's probably taken these 6O years

for me to really understand

what's truly important. And that's you guys.

So, I love you all very much.

I'm not gonna lie.

I'll take a big piece.

You can wait.

You can wait a little while longer.

I just don't know about me as a mom.

No, no, no. You should have.

I want more kids. Everywhere.

I want more yous around.

It's all about you, isn't it? Four and 19.

All right.

So, what was that all about?

What?

The last time you gave a speech like that

we lost the bid to Firestone.

I don't know. I just wanted it to be

about the family tonight.

Did you see this?

Yeah.

You know how I feel about that. Trashcan.

Peter has a copy pinned up

in the conference room.

You gonna keep skirting around it?

Why sell our company?

We make a great return.

We give money to the causes we believe in

that we know are important.

We love what we do.

My darling, you are still in your 20s. Lam 60.

That is a huge difference of point of view.

Dad?

Yes?

You are not old.

Last year was our best year.

It catches up, all right?

And maybe there are

some other things I'd like to do.

Maybe I would like to

spend a little more time with you guys.

Outside the office.

What?

I'm just trying to imagine what we would do.

Where are you going?

The office.

Now?

Yeah. I've got to finish up that thing.

But...

I haven't given you

your birthday present yet.

I'll come back as soon as I can.

Just keep it.

Yeah, Gavin. It's me. When you get this

could you call Chris Vogler at Fremaut?

Tell him that I need to talk to him

right away. Thanks.

Hey.

What's wrong?

The same.

I'm sorry. I'm sorry I'm late.

I'm always late. You know that. I'm sorry.

And I'm always saying I'm sorry, but...

it doesn't mean I wouldn't rather

be here with you.

The show's going to be beautiful.

You gonna be there?

I will be there.

That's great.

I made this for you.

You made this?

This is amazing.

One candle. Thank you very much.

I want you.

He's waiting.

Thank you, Diane.

So?

I'm here.

Guess what's not?

Jeffrey, I told you. I'm working on it...

You're working on it? Yeah.

I'm working on it.

While you're doing that

let me tell you what's not working.

Okay.

What's not working is my $412 million

that's sitting in your accounts

so you can pass your audit.

The $412 million you needed,

you said for two weeks.

And which has been languishing now

for 32 days

while it could be elsewhere invested

earning an actual return

instead of couching this absurd lie

that you're spinning.

What do you want me to say?

That you're gonna get a signature

from Mayfield

and that my hostage money and my fee

are gonna be sent to me promptly,

say, by tomorrow?

I'm solving the problem.

I'm gonna get your money. And your fee.

You will have it very shortly.

When?

As soon as they sign the f***ing contract!

I'm not the one with the liability.

I just made a loan.

You're looking at 1,000 years' jail time

- for fraudulent conveyance...

- Stop it!

You don't have to talk to me like that, Jeff.

I didn't get you into this mess!

Remember when you were asking me...

You were a friend of mine...

is it a good idea to convert half your liquid

assets into a f***ing copper mine?

What did I tell you?

Are we done? I think we're done here.

Friday morning I take my money back.

You can't do that.

The f*** I can't!

It's in an escrow bill with a one day...

I need that money in there

until they sign, Jeffrey!

What if they check again?

What am I supposed to do?

It's not my problem, is it?

Not your f***ing problem.

Let's go.

Especially Russia,

where fears of further nationalization

appear to be scaring away

international investors.

The Dow off to a strong start

this morning on a bevy of news

firmly pointing to an economy

picking up steam.

What?

7:
30 this evening, the Four Seasons.

We'll get it straight with Mayfield then.

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