So, there are these two young fish swimming along.
They meet this older fish, coming the other way.
"Good morning boys" the older fish said. "Water is cold today, isn't it?"
And then he swims off.
The two younger fish watch the older fish swim off
and then they turn to each other, completely baffled,
and they go, "What the fuck is water?"
David Foster Wallace told this story once. See our water is called finances.
You can't see it, You can't smell it, and to most people is imperceptible.
But we... we are the fish in the know.
And it gives us a big advantage. And a great responsibility.
Yes it does. Don't ever forget that. But if we are we the fish in the know...
Then Massimo, he's the one who swims behind you
and you don't even see him coming.
He's the shark. You see, not one of us fish thought to short Greece.
Not one, except Massimo Ruggero.
_
- Keep shorting it. - Ten million to 118.
- No. - Another ten on 116.
- Not yet, Paul. - We're looking 9 hundred million.
Ok listen everyone from now we keep shorting it. Ok?
It's down six points, but it's hitting bottom.
No time to use it.
- Cover. - Ok, start cover our
Cover. Start cover.
I don't fucking believe it. A few seconds ago, we were 900 million out.
Now we're in the fucking clear. Now we're in profit.
Badass. Very badass.
At the close Massimo generated profit f or this bank in excess of 250 million dollars.
To Massimo Ruggero!
The fastest and deadliest shark in the sea. And thank God he's our shark.
Help!
They say the devil's greatest trick...
is making us think he doesn't exist.
But he is real.
As real as the water a fish swim in.
As real as the finance flowing through his bank.
I drank his wine, laughed at his jokes.
I've looked into his eyes,
and seen the terrifying blackness of my own soul, reflected in his.
Let's get to work. Let's not lose money.
By September 15th, 2008, Lehman Brothers had become a real estate hedge fund
disguised as the American's fourth largest bank.
They had over 600 trillion dollars in assets,
and when they filed for bankruptcy, the other banks became insolvent over night.
They were not allowed to fail, of course.
Instead, business for NYL and the other big banks were soon better than ever.
Devils first episode
- Are you ready, Maestro? - You go ahead, I'll be along in a minute.
- You're coming, aren't you? - Even sharks go kick back once in a while.
I am coming guys. I promise.
I want to get a DB9.
Goodnight.
- How about a drink? - John's memorial service
- Can I have a word? - Yes.
You know how proud I am of you. How hard you work. How much you sacrifice.
- You deserve your success. - No one deserves this kind of success.
You don't care about the money, do you? I think that part of you actually hates it.
- If it's about the promotion... - I'm supporting you.
And I have every expectation you'll get it.
But there is a problem.
- Edward Stuart. - Ed doesn't like you.
He says he's not gonna report you after vice-CEO
Just because I didn't grow up drinking tea and playing cricket.
Yeah he maybe is someway a racist but he's qualified.
And he has supporters on the board.
You're asking if I'd report to Ed if he gets vice-CEO instead of me.
Other banks would snap you up in a minute. I don't wanna lose you.
- I'm loyal, Dominic, you know that. - But you haven't answered the question.
Massimo, how did you know to short Greece?
And don't tell me you read the reports because everybody else read them too.
Instinct.
These pictures are live and the tear gas clouds a re just
coming up to the balcony where we have our position.
- What's your name? - Don't have one.
- Where did Paul go - He's out there.
- Will ever get bored of chatting with every pretty thing?
- His martini is gonna get warm. - Then I'll drink it for him.
So, to the best team on this and every other trading floor.
- To you guys. - Chin, chin.
Prosit.
Someone is not celebrating.
- Win some, lose some. - Or in their case, lose some, lose some.
Speaking of which. When's your name vice-CEO, Massimo...
Which one of you becomes head of trading?
Since Paul is not here at the moment, I say we take him out of the running.
Seems fair enough.
I'll let all three of you know when and if I get the job.
Come on, Massimo. We all know you'll get the job.
You've earned it, Massimo. If you don't, there's no justice in the world.
Or at least at NYL.
I almost forgotten... For you.
_
- Who gave you this? - It was on the table when we got here.
- Was it Paul? - I don't known.
- Come on. - Seriously.
Okay, see you in a minute.
- Are you Massimo Ruggero? - Yes. Do I know you?
Sofia Flores. I'm a reporter.
- I don't recognize the name, sorry. - I'm a blogger, actually.
- A blogger. - Yeah. It's ok.
But one interview with you and I'd finally get published.
Why me?
Because you know what it's like to be a foreigner
trying to make it in the Anglo-Saxon world.
- Yes. I know. - So?
- Are you Spanish? - I'm from Argentina.
- I wish you well, ms. Flores. - No...
Sorry.
_
Carrie? No, wait. Please! Wait!
"What the fuck is water?"
- I don't get it. - "What the fuck is water",
They don't even know what water is.
- We have to go. - Now?
- I' was about to order another round of drinks.
- Sorry. - I'll be right back.
- What was..? - Come on guys.
Carrie as a hooker giving lap dances?
- I mean, are you sure? - Yes, I'm sure.
If she really is back, getting you as a client is kind of a coincidence.
It's not a coincidence. Someone went a lot of trouble to make sure I saw her.
"The banker's ex wife is an escort".
I'm not sure the board will enjoy reading that head line in the Sunday Times.
Ed Stuart. If you don't get that job, Ed Stuart does. It had to be him.
- Look through his portfolio. - What are we looking for?
I don't know, but be careful.
Good morning. Thanks for joining us...
Professor Wade. I thought you'd be up.
As of at old age, you can't sleep more than four to five at the time.
Think of all the extra work you get done.
I should bloody hell retire on an island or something. So should you.
Yes, one day. Meantime I need a favor.
I like when you ask a favor. Do tell.
Do you have any bright young students eager to impress? I need some forensic work.
You have all a forensic department on the 23rd floor.
It has to be done off the books.
I think I might find someone.
- Massimo, is everything alright? - No, it's not.
- Bloody hell Massimo. - Hey.
- What are you doing here? - Looking for my wife.
Come in. How've you been?
- Have you seen her? - Not for a couple of years.
Last I heard she was in the States.
- Coffee? - No thank you.
I remember when she painted it.
It's my favorite. God, she was talented.
Yeah, but Carrie was always two people, wasn't she?
Dark and light.
- Hello. - Hello.
From now on, I'll take care of you.
We had some good times together.
You certainly did.
- I saw her in London last night. - Yeah?
- Working as a call-girl. - Shit. Things have gone that bad?
I've got to find her. She is in more trouble than she knows.
Whatever Carrie has got into, is not your job to look after her anymore.
Someone is trying to destroy me. They mean to use her to do it.
Will you help?
I'll phone around her old friends. See what I can find out.
Thanks.
- There's still an hour to go. - I don't need it. All done.
Than I invite you to take the free time to look through your answers.
No, they are right.
Thanks.
You finished awfully fast.
Yeah, If you fail, you get your money back. Now pay up.
- Is that the going rate for sitting in another student's exam?
I needed the money.
And when you'll get thrown out the university you'll also need the money.
- Only you'll not have any prospect of earning any.
You are already on thin ice after you hacked LSE database
Released thousands of research papers. Students do not have to pay for...
Point being.. This is not your first offense, Mr. Harris.
Perhaps you should have been expelled. You're smart, Oliver.
One of the brightest I've taught. And I've taught a few.
Don't give some privileged rich kid the satisfaction of getting first,
on the back of your hard work.
- Do you have any classes this afternoon? - Nothing I can't miss.
Good. I have a job for you.
What have you got?
We may have found a way to strike back against Stuart but we have to move quickly.
- What is it? - Davenport BioTech
Ed's is in the mid of a huge refinance deal.
If the deal goes through it's worth 50 million in commission.
If it doesn't, the bank will have to make up the loss.
50 million will be a lot of blood on Ed's nose.
Davenport's balance sheet is rock solid.
Why refinance and diluting that stock? That we don't know.
Whatever the reason we are exposed on this
thing And the Davenport deal'll close Tuesday.
It's the same day the new vice CEO in announced.
Even if Ed wasn't behind it, he's your only competition.
We can weak his, strengthen yours.
If Dominic finds out, he'd make sure you'll never work in the city again.
- You're our boss, not Dominic. - We've got your back Max.
- What do you want us to do? - Ok, short Davenport.
But we're outside brokers. No one can know it can from us.
And guys... Thank you.
21st century human health challenges demands 21st century meta-human solutions.
That's why we, at Davenport, have developed bionic and nanotechnology.
See things as they are. Davenport BioTech defining the future.
Well, I think you can see why we are all so excited about this investment opportunity.
We live in a world where perception is everything.
We at Davenport believe that not only should you have the appearance of being the best.
You should be the best.
_
Is there a problem? You tell me John.
I thought we were always straight to each other.
Am I meant to guess what you're talking about?
Someone started shorting your stocks an hour ago.
- What? - That's when an investor borrows
in order to buy them back in the later day to the low price and pockets difference.
Yes I know what stock shorting is What the hell is going on?
Evidently they believed your stocks will fall,
and if it does they stands to get a lot of money.
You've seen our books. The company is solid.
Alright. I'll look into it but there better not be any surprises.
We both have a lot riding on this , and the market doesn't like surprises.
The only surprise is that you'd dare think I'd deceive my investors.
Now, I paid your bank a lot of money, I expect results.
Kate. I'm just going to get some coffee.
The lift is going down, Ed.
- Are you alright? - I'm fine.
You seem a little stressed.
I neither need or want your concern.
_
Am I supposed to know what that means?
An Italian judge said it after the mafia threatened him.
This isn't Italy Mr. Ruggero and banking is a legalized crime.
At least you didn't use to be until people like you showed up.
- People like me? - Do you have any idea how may
My great-grandfather was governor of the Bank of England.
For us, this line of work has always been about safe guarding people's savings,
Not risking them in some sort of gambling hall. Banking used to be a noble profession.
But unfortunately in these days it seems stoop ever lower
I was born low. The only way I could ever go was up.
Unfortunately, in your case, the only way is down.
Hey.
- Am I being ambushed, ms. Flores? - Maybe.
I really need that interview, Mr Ruggero.
It's Massimo. And I read your blog, you're a good writer.
- Thank you. - But it's still not a good time, sorry.
I thought you of all people would help a poor girl from Argentina.
- Why me? - Because you're a poor
I don't know how you found that out Ms Flores.
You mean because you wiped out your personal history from the internet? I have my ways.
- I'd like to hear more about them. - Cool. How about we talk over a dinner?
You're nothing if not persistent.
Alright. Eleven o'clock at my place.
- Thank you. What can I bring? - Just yourself. See you.
Don't worry.
Oliver. Nice to meet you.
- What can I get you? - Espresso, single.
A cup of tea.
- Milk and sugar? - No milk, four sugars.
Girl won't let me have it at home so..
- Maybe you should listen to her. - That's what she says.
- So you left your phone at the office? - Yes.
- Will we able to get into Davenports? - Yeah.
He and Stuart are meeting a reporter from the Financial Times.
- Fred Worlick? - Yes, Monday for
Ok. I need to hear what they're saying Can you do that?
Yes I can use his phone as a voice recorder if I'm sitting in Bluetooth range.
Okay.
Do you mind if I ask why you are spying on one of your own colleagues?
I mean, Mr. Stuart does work for your bank, doesn't he?
Thank you.
What about Carrie?
She entered the country six weeks ago with a British passport.
- Did she gave an address? - Yours.
But she must living on cash, completely off the books. Her mobile phone thrown away.
I'm sorry, I've got nothing.
Okay. Keep looking.
Mr. Ruggero... Thank you for this opportunity.
It's Massimo.
- What about your coffee? - You drink it.
In Athens a day of strikes and protests across Greece evolved into deadly riots.
Tens of thousands of people have taken to the streets.
- Hey. Am I too early? - It's perfect. Come in.
Cool. Thanks.
- Can I take your coat? - Please, thanks.
- This is amazing. - Thank you.
- Glass of wine? - I love wine.
- White is it okay? - Perfect.
We're live on the ground as the story...
Your ex-wife. She is beautiful.
You seems to know an awful lot about me, Ms. Flores.
Sofia.
Whatever you're cooking, it smells delicious.
The secret is the fish.
Thank you.
How fresh it is, where it is caught. As we do in Cetara.
But you already know that about me. How?
Once something is exposed on the internet, it can never be covered up.
Well yes but not if you know what you're looking for.
- So, what's the interview about? - What's allover the news. Financial crisis in Greece.
What about it?
Is Greece the problem, or is the problem about to become the whole of Europe?
Good question, Ms Flores.
I told you, Sofia.
Sofia. Okay.
I just trade in the markets. I don't predict them.
Some say the best way to predict the markets, is to cause them.
So you think my bank is causing Greece to fail?
I think maybe someone is. But I do not know. I am asking you.
You want an honest answer?
I have to give it some thought.
Sure, of course. Maybe we could have dinner again...
I think one interview is enough.
You said one day we would get a place like this.
And you said it wouldn't make us happy.
Looks like we were both right.
Your ex-wife. She is beautiful.
You seems to know an awful lot about me, Ms. Flores.
- Kalim? - What's up?
I don't want security involved.
When you get in, check out our system. We may have been hacked.
John lost his life in a fire fight outside Basra nearly three years ago.
No words can describe the grief a parent feels for the loss of a son.
I speak for my wife, Nina, and myself
when I say that John's loss leaves a hole in our hearts we can never fill.
But we are left with extreme pride.
Pride that a young man chose sacrifice over self interest.
A young man born with privilege, would forsake that to serve his country.
I can't bear it anymore. Can you take me home?
If you would indulge me I'd like to... share some memories of our remarkable son.
For him to talk about sacrifice... It was Dominic that John run away from.
Dominic didn't want John to join the army, Nina.
But he didn't try very bloody hell to stop him, did he?
He wanted him to come back begging for a job in the bank.
But John would rather die than give him the satisfaction. And he did.
I was with him when he got the news.
Of course you were. You always are.
It destroyed him.
And yet, I've never seen him shed a tear.
Being with Dominic it costs people. You should know that better than anyone.
Ready, aim, fire!
Aim, fire! Fire!
Hey.
Thanks for bringing Nina home.
- Don't worry. - She relies on you, you know? We both do.
I'm so sorry for your loss.
You have been a great comfort to me.
Which is why this business with Ed Stuart is just so damn upsetting.
I saw the two of you talking.
He is paranoid. He thinks you're somehow plotting against him.
- Yeah, why would I need to? - Which is exactly what I said.
By the way, have you heard from Carrie lately?
No.
- Why do you ask? - No reason.
- Occasions like this always bring back ghosts.
I hope you'll forgive me but I can't stay for lunch.
Of course.
Hey.
- Is that your only suit? - Yeah, I had to borrow this one from
I guess it'll have to do.
I booked a table under the name "Smith". Table right next to his.
Good.
Is that all for lunch?
Do you want good press? Take your reporter to an expensive restaurant. See you later.
Mr. Smith. Table for one.
Please follow me.
Excuse me... I reserved a table, but there.
I'm afraid those tables are taken. This is all we have.
An aperitif?
- A drink, sir? - Yeah, coke, please. Thanks.
Your coke, sir.
- Well? - It cost 60 quids.
But that was the best hamburger I've had in my entire life.
I meant, what they were saying?
No, a bastard set me by the toilet. Too far away to get anything.
- You got nothing? - I didn't say that.
It wasn't obvious, but I saw something about Davenport. He trembles.
Even so subtly like his foot and his hands. So I checked his diary.
Three times in the last six months he has been
to see a dr. Nicholas Meyer on Ally Street.
- A neurologist? - Exactly.
- It could be a kind of like, motoneuron disease. - Or it could be nothing.
Were you able to access mails and medical records?
No, his records are on his computer.
- What's that? - An old friend of my wife's, Greg Bowman.
I asked for his help to find her.
Has he?
I need you to make sure.
Well?
We've ask around, there's anything hidden on Davenport sale.
He just for life insurance two years ago he would have had a full medical exam.
If what you guys are saying is true, there's no way to prove it.
- We could leak the news anyway. - What if he's not sick?
Either way the news would confidence in his stocks.
Unless it gets traced back to the same people
who are running a massive short against him.
Then Davenport find him and we're fucked.
- That's a rumor, no legitimate newspaper would run. - So what do we do?
So Subterranea is not the only other organization out there
alongside Assange fighting for the truth.
You've got Cryptome, which was founded all the way back in 199...
- 1996. - 96. Exactly.
You've got GlobaLeaks, OpenLeaks...
You know, most of its collaborator actually came from WikiLeaks
because they were frustrated with Julian's...
One of its key strategy is a brilliant programmer called the Architect.
I just want to point out if he's listening on this now... I'd love to meet.
- Hello? - It's Massimo. I need to see you.
- What, now? - Yes, now.
- Sure. Where? - At my place.
- I can be there in 20 minutes. - Good.
Anger and violence erupting on the streets of Athens
and protests over Greece's measures...
Is something wrong?
You are not a blogger. You're working for an anarchist group called Subterranea.
How do you know that?
Like you said, when something is on the internet it can never really be hidden.
Lying is not a crime, or you and your friends
would have been in prison a long time ago.
A lie may not be a crime, but planting one of this, is.
- The cops would release me in five minutes. - Would they?
- Your group is on the list of Interpol. - Well, I am not.
After they set fire to a bank. Three people were burned to death.
Where are you going?
- What is it you want, Massimo? - Subterranea trades informations.
I want you to make sure that some information goes viral.
- What kind of information? - About a client. John Davenport.
- Good morning, Mr. Stuart. - Good morning.
Hi, Mark, how are you? Did you see the piece? What you mean pulling the investment?
No, no, no, you came to me, begging me for as much stocks to as you could get.
That's bullshit Mark! If Davenport were ill, I would know about it.
- Is Ed looking this way? - He sure is.
Davenport sitting rock bottom. Poor bastard.
Don't dance on his grave just yet. Davenport has called a news conference at 1.
- What he's gonna say? - Don't known.
Yes?
I'm texting you an address. You better come over here now.
- What is it? - It's your wife. I found her.
How long have you known she's hiding here?
You had me followed?
- Why didn't you tell me? - Because she didn't want to see you.
- She still doesn't. - Fuck you!
Carrie! Carrie, it's me.
She wasn't like this a couple of minutes ago.
- What has she taken? - I found her like this.
- Is she on any medication? - I don't know what she's on now.
- She used to take lithium and Clozapine. - Wait here Mr. Ruggero, we'll do all we can.
First of all thank you very much for coming. I'll be making a short statement.
There were reports in the press recently, concerning my health.
And I'm sorry to say that, they are true.
I was diagnosed with Huntington's disease, six months ago.
I saw my illness as a personal issue.
And I only regret that my family had to find about my diagnosis this way.
Goodbye, John Davenport.
And Ed Stuart. He just cost the bank £ 50m. Good job, Max.
I ask you to respect the privacy of my family.
Massimo. Mr. Morgan would like to see you.
I will not go into details now...
I trust you saw the news on Davenport.
- I did - It's an embarrassment to us. And costly.
Ed should have done his homework.
Clearly somebody did.
You should have told me about Carrie.
How do you expect me to protect you if you don't tell me the truth?
Boards isn't gonna make you vice-CEO.
Because of Carrie?
Because of a bipolar drug addict the last I heard was legally your wife.
This is bullshit.
Jesus Massimo do you have any idea what it takes to be able to sit to this chair?
What few mistakes you can make?
Did you honestly imagined you could make a mistake like her?
This was a setup. Someone brought Carrie back to London.
- You're being paranoid. - I'm not paranoid.
- Who told you about Carrie? - You said you were loyal.
- Is he getting the job? - Are you loyal?!
- Donna, where is he? - I'm sorry Mr Ruggero, I really don't know.
Good afternoon, Donna. Do you know where I can find my husband?
I hear the devil speaking to me. Whispering in my ear.
He struck my ego.
The devil's greatest trick.. Isn't making us think he doesn't exist.
It's flattering us... so we don't see...
The devil is us.
- Synced and corrected by corvin.predoiu