Margin Call Page #2

I had to bring you guys back here,

- but...

- That's all right.

- What's going on?

- Look at this.

- Eric gave me this file before he left.

- Eric...

Dale. And he told me

that he couldn't quite figure it out.

And the last thing he said to me

before the elevator doors closed was,

"Be careful."

- He said, "Be careful"?

- Yeah. So, obviously, I'm a little curious.

I start to get into it a little bit,

and I realize that the only thing

that he's missing...

- This is not good, Will.

- All right. Okay. So what is he doing here?

No, no. Go to model four.

It makes more sense.

Okay. All right.

What is this?

This is basically everything that

we have in our books at any given time.

But, what Eric was trying to do

was to work these numbers

for levels of volatility that fall

outside of the standard VAR model.

- What are those levels?

- It's fairly complicated.

Simplify.

The volatility levels are set

using historic patterns, basically,

and then stretching those patterns

out another 10, 15% roughly.

All right, so?

So, we are starting

to test those historic patterns.

When?

- Today.

- Tuesday.

Monday. Last Friday and Wednesday.

Two Fridays ago.

All right. I get it.

F*** me.

Once this thing gets going

in the wrong direction,

this is f***ing huge.

How huge?

Well, the losses are greater than

the current value of the company.

Projected losses.

The projected losses, Will.

- And this is just our floor?

- Yes.

Where the f*** is Eric Dale?

I don't know. I tried to call him.

His phone is off.

What do you mean?

They turned everybody's phone off

that they axed today.

F***ing ruthless.

- Did you try his personal cell?

- Yeah, I called his cell phone. it's not on.

- Call his home.

- At this hour?

Yeah. Do we even know if he's right?

- Looks pretty f***ing right to me.

- It does.

Mrs. Dale, it's Will Emerson.

I'm fine, thank you. May I speak with Eric?

No, we've tried that.

His phone appears to be off.

Listen, could you have him call me

the moment he comes in?

The moment he walks through the door.

Thank you so much.

Goodbye.

Where the f*** is he?

- Doesn't he have, like, three kids?

- So?

F***, I don't know, would you go home?

I know where he is.

I need you two to go and get him.

There will be a car

waiting for you downstairs.

- You need to go.

- Right now?

Yeah, right now.

What are you going to do?

I'm going to call Sam.

F*** me.

- Yes?

- It's Will.

It's 11:
00 at night.

I know. I'm sorry. I wouldn't have called.

What's the problem?

I think you need to get back here.

What?

Sam, listen...

it's 11:
00 at night.

I'm well aware of the f***ing time, Sam.

I'm telling you, you need to see this.

See what?

It's...

E- mail it to me.

I don't think that, that

would be a good idea.

I'm on my way.

Look at these people.

Wandering around with absolutely no idea

what's about to happen.

Right?

Well, I try to not let

work get to me like that.

I've noticed that about you.

Come on. We're 23 years old.

- I'm 28.

- All right, 28.

Whatever, it's the same thing,

but I made nearly a quarter

of a million dollars last year.

F***. For what?

I push numbers around

on a computer screen.

A bunch of glorified crack addicts

are willing to take that information,

and they pretend to understand it,

and they bet it against some other jock

halfway around the world

who, you know, if he wasn't doing this,

he'd be in an OTB somewhere,

putting it all on number seven, you know?

At the end of the day,

one guy wins, one guy loses.

You do know it's a little more

complicated than that, right?

Yeah.

It's Will. He wants to know if we found him.

What do I say?

Let's say that we haven't found him yet.

Okay.

- Hey.

- Hey.

So?

Eric Dale.

Oh, Jesus.

Before he leaves the building,

escorted by f***ing security, by the way...

- I had nothing to do with that.

- I know.

I'm sorry. Go on.

Before he leaves the building,

he hands this disk to Peter Sullivan.

- Who's Peter Sullivan again?

- Doesn't matter.

- He's one of Eric's guys.

- All right.

But before the elevator doors are closing, the

last thing that he says is, "Be careful."

"Be careful"?

Yeah.

- "Be careful"?

- Yeah.

- Why?

- Take a look.

Oh, Jesus. You Know

I can't f***ing read these things.

Just speak to me in English.

All right. Basically, this Kid, Peter Sullivan,

he gets all inspired by your pep talk.

Nice job, by the way.

And he delves straight in after work.

And I think he nailed it.

Nailed it?

Yeah, I think he figured out

what Eric was missing.

And?

It's not good, Sam.

These here are

the historical volatility index limits

which, of course, our entire trading model

relies on pretty f***ing heavily.

Well, we're now so levered up

that once it gets outside of these limits,

it gets ugly in a hurry.

And how close to those limits

have we gotten?

Sam, we're beyond close.

We broke through these limits

five or six days in the last two weeks.

Now, somehow we've managed to

stay on the right side of it for now.

For now.

Well, look what happens

when we get on the wrong side of it.

- Wait a minute. What am I looking at?

- You're looking at this figure here.

- Whoa. Is that...

- Yeah.

And that would not be a bad day for us,

historically speaking.

- Is that figure right?

- I don't know. I can't be sure.

Where's Eric Dale?

- We shut his phone off.

- Of course we did.

Yeah. So I called his wife,

who says he's not home.

Yeah, he's probably crying

in some f***ing beer somewhere.

Yeah, or worse.

Where's the kid that did this?

I sent him out looking for Eric.

You think he knows what he's doing?

I don't know. What do I know?

Get him back here. Get him back here.

What do you think these girls

make in a night?

$1,500?

Two grand?

Two grand.

F***. That's... That's pretty great.

I mean, all considered.

Sh*t.

Will.

Yep.

No. No, we asked, and nobody's seen him.

Okay, yep.

All right, so what do you think

Rogers makes in a year?

- I don't know, I have no idea.

- Come on. Play along.

- What year? I don't know.

- Last year.

Three quarters of a million.

Come on.

- What?

- Oh, it's not even close.

- More?

- Much more.

A million?

Will Emerson made

two and a half million last year.

- F*** you.

- F*** me.

F*** you. How do you know that?

- He told me.

- He just told you?

I asked him, and yeah, he told me.

You think that's true?

Yeah, probably.

That's f***ed up.

- Why is that f***ed up?

- I don't know, does it seem right to you?

Right? I mean, right is... Right is...

Jesus.

So what do you think

that means Rogers puts away?

I have no idea, Seth.

This traffic is a f***ing nightmare.

Sorry.

Gentlemen.

Will. Mr. Rogers.

Come with us, please.

Sam, this is Seth Bregman

and Peter Sullivan.

Sir.

Will?

Where are we going?

We're going to get a second opinion

on your work, Peter.

So, Sam, what do you have for us?

It'll be here in a minute.

Finding somebody in the copy room at this

Rate this script:4.7 / 3 votes