Rollover Page #4

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you wanna be the chairman.

Well, I guess I should call the cockpit.

Have them radio the office

with the gory details.

Hey, that can wait.

This can't.

You're really ticked off

about the deal, aren't you?

I'm sorry.

I just don't...

I don't like being dependent, that's all.

I was never dependent

on any one studio.

I didn't depend on Charlie.

And if anything goes wrong, I don't like

being dependent on Borough National.

You mean me.

Here.

If you can't live with the deal, forget it.

Tell New York the terms

are unacceptable.

I warn you, I'm a problem.

I'm a bad person

when I get in a corner.

Fine. If you get in a corner,

tell me to go to hell.

In business, that's the ground rules.

But if you think the only thing we've

been doing together is business...

...one of us is a fool.

Would you radio Winterchem

in New York, please?

Tell them we've come to terms

on the whole package.

Well, you got your deal.

You got what you want.

You don't know

the first goddamn thing I want.

It's not the deal.

The world's full of deals.

A partner's somewhat more rare.

I'm still not sure I trust you, you know.

That's a perfect basis for a partnership.

Thirty thousand.

Just bumped him out of 20 million.

I thought you ought to see that.

They just want us to hold it?

Not roll it over?

Doesn't make sense.

They'll lose a ton of interest

if they don't re-deposit that money.

Must be a mistake.

Ask them to send it again.

You got it.

By the way,

how much is the deposit for?

Altogether, 95 million.

Rebecca, let's get a confirmation on that.

Let me have the maturity schedules...

...on those Saudi Eurodollar deposits

we're holding.

The ones that are due now

or all of them?

- The works.

- What's going on?

Nineteen deposits

worth 5 million each are due...

...and the Saudis didn't

give us disposition instructions.

You got 23 more maturing

in the next three weeks...

...which is 210 million we're gonna

have to come up with...

...if they decide not to roll over.

- Two hundred and ten million?

That's practically every cent we carry.

It'll clean us out.

They can't let that money

sit without earning interest.

Even the Arabs aren't that rich.

Maybe they'll advise us through

their London affiliate, I hope.

Forty-60, anything there?

If you wait five minutes,

I'll have an answer.

That yen deal we lost, who was

the customer, and why did we lose it?

Hapsas Oil. First New York

must have wanted the trade badly.

They bid one point over market.

Mr. Naftari returning your call.

- Put him on. I got five minutes to kill.

- Yes, sir.

I don't know. Some guys will go

anywhere to find a topless beach.

Hey, Sal, how's Monte Carlo, you turkey?

- Not bad. Something on your mind?

- No, nothing special...

...except your friend Dawasir doesn't seem

to have both his oars in the water.

What's going on?

They got a couple of Eurodollar

deposits maturing. No big deal.

But they're just letting them sit.

You happen to know anything about it?

Nobody's talked to me.

I haven't heard a word.

Well, Europe's gonna start

closing in a few minutes.

They work through London and Zurich,

and the interest they're losing...

Well, what about it?

Hub, you got a problem?

Hey, listen, if it's okay with them,

it's just fine with me. What do I care?

Then there's no problem?

Yeah, kid, talk to you.

Sh*t.

He said you don't seem to have

both of your oars in the water.

You cannot pull $95 million

in one chunk...

...from a bank the size

of Borough National.

When I undertook to manage this plan...

...you agreed to do it gradually

in small amounts.

You're now starting to move billions

in a matter of weeks.

The world economic situation

is deteriorating...

...more rapidly than we had thought.

We don't think we can afford

to wait, Max.

There will be no collapse in the

foreseeable future unless you panic...

...and start it with some

damn fool move like this.

And if you are wrong, what then?

We wake up one morning,

our oil is gone.

We find we have sold all we have in

exchange for paper money that is worthless.

You're risking immediate exposure.

We risk it every day.

If Charles Winters

could stumble on that account...

...it's just a question of time

before someone else finds out.

- And when that happens...

- No one else will find out...

...if you revert to your original timetable.

All right, Max.

We'll think about it.

But I'm not sure

what our answer will be.

You're playing with the end

of the world, you know.

The end of the world as you know it.

Europe's closing.

You're on your own. No dispositions.

I don't want anyone playing hero.

- Give me the FYCB.

- Okay, let's hedge ourselves.

Cover at least half the amount

of the deposits for one day.

First New York and Morgan,

24 million each.

Morgan, this is Borough National.

First New York,

let me have your Fed Funds desk.

Listen, we got room for 24, 25.

- Right.

- No problem, get back to you.

- Morgan's tight today.

- First New York's dry.

Come back tomorrow

if we have a problem.

This could be a real situation here,

Europe closing down.

If we can't find the cash to cover those

Eurodollar deposits we're sh*t out of luck.

Okay, try Boston and Chase, but that's it.

Let's not blow it all over the street.

As long as nobody else knows...

Now what the hell is that?

Dollar's dropping.

Dropping? It's going through

the basement, for chrissake. Why?

Hey, Hub, it's Paris. They heard some

big Arab money is pulling out here.

- They're gonna start shorting dollars.

- They're nuts.

Negative. Kill those calls

to Boston and Chase.

- That's what they said.

- Tell them we're buying.

- We're buying?

- Tell them.

Dollar dropping fast against marks and yen.

Add sterling and guilders to that.

Okay, just button up. No more calls

go out of here until I tell you.

You better call your mama, both of you.

You're gonna be late for supper.

Vince, this is Gil. I'm bottom-fishing.

You got any ideas?

No, no, nothing definite.

I wanted to flag it at the Fed

just in case.

- Hang up.

- No, not much.

Maybe 100 mil or so.

Hang up that phone, Roy, or so help me

God, I'll tear it out of the wall.

Sorry, I'm getting a little static here.

I'll be back to you.

Look, Smith, you can save the dramatics

for some other time.

Are you crazy?

Are you right out of your f***ing skull?

Nobody knows we're broke.

I'm busting my ass

to act like business as usual...

...and you call the Federal Reserve Bank.

Why not take an ad

in The New York- f***ing-Times?

Everything is drying up on you.

You can't get it anywhere.

I say we go to the Fed and make a clean

breast of it.

And blow everything.

Look, the Fed will never find out.

We'll issue some domestic CDs

to cover the Eurodollar deposits.

By the time we add up our tabs,

it'll be two weeks from now.

By then, everything will be fine.

So we ran a little behind

on bookkeeping. So what?

You can't do that. That's illegal.

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