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MARGIN CALL Movie

SUBMITTED BY:

Tushar Mehndiratta
PGFC2257
Key characters in the Movie

 Eric Dale- Head, Risk Management Department

Movie Summary

The movie begins in an unnamed investment bank where everyone knows a large number of
employees will be laid off. The biggest surprise comes in the form of Eric Dale, who has
been working there for nineteen years yet he gets fired over some younger blood. Before
leaving, he warns them about a model he's been working on. Will Emerson, head of credit
trading, visits Eric as he packs up his office. Eric asks Will who chose him, and Will says
Sarah, which worsens Eric's mood. Will refuses to look at Eric's model, saying it's no longer
his problem. On his way out, Peter Sullivan and Seth Bregman console Eric. When Peter
thanks Eric for everything he's done, Eric gives him a pen drive containing his model and
warns him to be careful. As Eric leaves the building, he realizes they've shut off his phone, so
he insults chief risk management officer Sarah Robertson for putting him in this position.
Sam Rogers is upset because his dog has a tumor and is dying. Will checks on him and tells
him that 80% of the floor's fired employees have already left, so Sam gives the remaining 33
employees an encouraging speech, reminding them this is an opportunity to grow. At night,
everyone celebrates keeping their jobs except for two. Sam visits his dog while Peter looks
over Eric's files. Peter finishes the incomplete model, and the result is unsettling. He tries to
call Eric, but he lost his phone, so he calls Seth and asks him to bring Will back immediately.
Peter shows him what he's found: historical volatility levels in mortgage-backed securities
are being exceeded, and the debt from over-leveraged assets will bankrupt the company.
Will tries to call Eric at home, but his wife says he hasn't returned. Will tells Peter and Seth
to bring Eric to his favorite bar while he calls his boss. Sam isn't happy about returning to
the office at 11 pm, but he does so when an emergency arises. He's shocked by the numbers
that predict a dark future for the company and asks Will to bring Peter back immediately.
Peter and Seth have been drinking at a bar since giving up on finding Eric. When Will calls,
they return to the office for an emergency meeting with Sarah, division head Jared Cohen,
and other executives. Sarah tells Jared that while they'll double-check the files, she can
already tell they're accurate after checking Peter's credentials. Jared asks Sam at 2 a.m. how
long it will take to clear the books. Sam says it would take weeks, but it would ruin the
company's reputation. Sarah adds that she'll need a while to calculate the assets' value. The
higher-ups are entering a complicated argument, so Will, Peter, and Seth are asked to leave
the room. Sam thinks Jared's plan to sell everything is insane, so Sarah convinces him to
wait 45 minutes while she reviews the data. Jared calls their CEO after finding no easy
solution. Will, Peter, and Seth smoke outside. Will jokes about jumping and says things are a
mess, but the higher-ups will save the company because they never lose money, even if it
means screwing everyone else. A helicopter disrupts their conversation. Sarah tells Jared the
information is solid, and he blames her for not trusting Eric more. Jared tells the lower
employees that things are about to get ugly, so they must always tell the truth. CEO John
Tuld leads the meeting, and all stockholders are there. Jared suggests selling everything
tonight after Peter explains the problem. Sam clarifies that while this is possible, they would
be selling valueless assets through lies, so the truth would destroy the company's reputation
and they would never be able to sell to these people again - this will kill the stock market for
years. John cares only about the company's survival. He gives everyone an hour to rest and
find Eric before starting their plan at 5 a.m. John later asks Sam for his support, but Sam is
hesitant. Sarah warns Jared not to screw her over with his strategy or she'll bring him down.
Eric's wife calls the company to say he's home but won't talk. Sam tells Will and Seth not to
tell John's people or they'll scare him off. John tells Sarah she'll be the scapegoat for the
firm's over-leveraged position and asks her to resign after the fire sale. Sarah reminds him
that she tried to warn him and Jared but was ignored, but John warns her not to fight. He'll
pay well, though. Will and Seth are waiting for a car when Jared approaches them to share
his and John's concern about Sam and the fire sale. Will dodges the question by saying Sam
will do the right thing. Will and Seth arrive at Eric's house, and Will explains what's
happening. He asks Eric to return for one day, but Eric refuses, only to see John's men arrive
in a mysterious car. Will warns Eric that if he doesn't accept their offer, they'll fight over the
promised benefits. Will tells Seth he'll lose his job on the way home. Seth has enough
money to last a few months, but he worries about normal people after the explosion. Will
scolds him, telling him he won't survive in this business if he worries about normal people,
who get angry at them when they make mistakes but live happily thanks to their work. John
offers Sam money in the office to get his support, but Sam says he's on the company's side.
Peter asks Sam if he'll be fired afterward. Sam says he probably will, but he'll also lose his
job after this mess. Peter wonders if this is right, but neither knows for whom. Seth is crying
in the bathroom over his future. When Seth shares his concerns, Jared doesn't care. Eric
accepts a one-day return to work to avoid losing his benefits, including healthcare. Sarah
apologizes and says she told Jared and John about Eric's warning weeks ago, but they
ignored her. After a few moments, start the plan. Under Jared's vigilant gaze, Sam talks to
his team and tells them they must sell everything before the day ends. To keep them
motivated, the company will pay them a $1.4 million bonus for selling 93% of their assets. If
93% of the floor sells, that's $1.3 million each. Sam apologizes for everything, reminding
them that this is unusual for someone like him, who has worked at the firm for 34 years. He
swears he is proud of his team and that their talents have been used for the greater good.
Traders sell to anyone who will listen. Their counterparties become suspicious of the sudden
sale, so the firm begins selling at a loss, but they can get rid of most of the bad assets. Jared
goes to see Sam congratulate him on a well-done job and inform him he must begin sending
people home right now. He tells him that by backing the sale, he won't lose his job because
the bosses are happy. This angers Sam, who rushes to see John, who is calmly eating lunch.
Sam wants his options released and to be out because he is done with the company after
this mess, but John needs him to be here for him for the next twenty-four months, then he
will gladly let him go. John finds Sam's guilt laughable because he thinks it's just money,
paper that isn't real. Sam never accepted their shady business practises. Sam agrees to stay,
but not because he likes John's ideas. John tells Peter he'll keep his job and get a promotion.
Sam returns to his old house later to bury his euthanized dog. His ex-wife finds him there,
almost calling the police until she realizes who it is, and reminds him that he does not live
there anymore. Sam explains this is the only place his dog belongs, so his ex-wife decides to
let him do his thing. Before going back into the house though, she tells Sam that their son's
firm also sustained heavy losses but at least they survived without going bankrupt.