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cybernoid

Recommended Film ; Margin Call

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Margin Call is a rather good movie that may be of interest to the readership. I recommend ! I don't recall it being mentioned here before.

It might be on youtube in a million parts. You can buy it online in the usual places.

Edited by cybernoid

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I saw this movie - some new intern discovered that all the banks models were rubbish and they were about to go under within a few days unless they sold all the rubbish on their balance sheet.

You will enjoy it - but hate the ending.

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I saw it, Spock travels back in time but in the process during another time twisted line, he forgets to save the hump back whales, but instead of saving the world, he manages to save his investment bank as the whole world falls into the financial abyss. This banks goes onto to fund the development of the Warp drive and enables the humans to make first contact with Vulcans.

Great plot! I told you that the even numbered Star Trek films are the best!

https://www.youtube.com/watch?v=B0OGRftqniY

Edited by 200p

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I enjoyed it, it does not attempt to get you to like any of the central (unlikeable) characters, and there's a good sense of panic about the whole thing.

add - previous thread here http://www.housepricecrash.co.uk/forum/index.php?showtopic=168355

I disagree, I found it very sympathetic to the characters. The portrayal was very much 'Don't hate sharks for being sharks, that's what they do'.

Which then marks out the whistleblower as the worst character in the film. He isn't a shark but made the choice to be one, just for the money.

There is another thread here about the film but the link I found was dead.

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The fact that there is no margin call in the film speaks volumes about how much the writers really know about finance.

ie Sweet FA. They also got confused about whteher the firm was a partnership or a company. Jeremy Irons' character is simply

a weirdo.

Still waiting for a believable film about the crisis.

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I disagree, I found it very sympathetic to the characters. The portrayal was very much 'Don't hate sharks for being sharks, that's what they do'.

Which then marks out the whistleblower as the worst character in the film. He isn't a shark but made the choice to be one, just for the money.

I agree, but I enjoyed it nonetheless.

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The fact that there is no margin call in the film speaks

Is there not? As I recall the bank has a lot of open positions for which they have 48 hours to find cash to bring them up to margin... only the size of the positions is larger than the bank has reserves to cover. So they dump them at firesale prices to save the bank but end up firing a lot of staff in the process.

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Is there not? As I recall the bank has a lot of open positions for which they have 48 hours to find cash to bring them up to margin... only the size of the positions is larger than the bank has reserves to cover. So they dump them at firesale prices to save the bank but end up firing a lot of staff in the process.

I watched it last night on the OP recommendation - I thought I'd seen it at the time, but hadn't. Very good, economical story telling and some accurate portrayals from the cast. Irons was actually superb and captured the essence of a guy at the top of one of these businesses - and Simon Baker was also spot on with his charmed progression and survival in the firm ("he's a killer".)

The actual problem for the firm was they had several billion dollars worth of unpackaged mortgages on their books and it takes a month or more to package them up into MBS and flog them to their clients in investment grade tranches. So they had to dump the portfolios of mortgages wholesale (raw) to their competitors at 91 cents then 65 cents then 55 cents on the dollar... The film was so tightly edited that they didn't spend long enough spelling it all out. There was never actually a "margin call" from the banks lenders - the Irons character made the call to dump their positions once he'd learnt that only luck had prevented the firm going bust in the preceding 2 weeks due to unprecedented volatility.

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