Tuesday, 25 December 2012

margin call trailer


Before the markets open, Rogers tells his traders they will receive seven-figure bonuses if they achieve a 93% reduction in certain MBS asset classes in a "fire sale". He admits that the traders are effectively ending their careers by destroying their relationships with their clients. Meanwhile, Robertson and Dale sit in an office, being paid handsomely to do nothing for the day; Robertson vigorously defends herself that she warned of the risks although perhaps not loudly enough. Emerson manages to close the positions, but his counterparties become increasingly agitated and suspicious as the day wears on. After trading hours end, Rogers watches the same human resources team begin another round of layoffs on his floor. He confronts Tuld and asks to resign, but Tuld dismisses his protests claiming that the current crisis is really no different from various crashes and bear markets of the past, and sharp gains and losses are simply part of the economic cycle. He persuades Rogers to stay at the firm for another two years, promising that there will be a lot of money to be made from the coming crisis. Rogers sees Sullivan meeting with Cohen about his imminent promotion. Emerson survives, and Bregman is made redundant. Tuld tells Rogers he will promote Sullivan.
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