Too Big to Fail
- TV-MA
- Year:
- 2011
- 99 min
- 2,835 Views
We have no intention of dismantling
the regulatory agencies.
However, we must come to grips
with inefficient and burdensome regulations.
We will eliminate those that are
unproductive and unnecessary.
Tearing down these antiquated walls and
granting banks significant new authority.
In a victory for the banking industry,
Congress has approved legislation
which will allow commercial
and investment banks
to merge and form institutions
of unprecedented size and global reach.
I think it's very important for us not to
introduce regulation for regulation's sake.
I do believe in the American dream.
Owning a home is a part of that dream.
We are taking action to bring many thousands
of Americans closer to owning a home.
This project not only is good
for the soul of the country,
it's good for the pocketbook
of the country as well.
The housing market has reached
frantic proportions.
It seems that everybody is building,
buying or selling.
The Dow and the S&P both breaking records.
Profits soared 93%
Hotshot traders and bankers
can expect to take home 10, 25,
and in some cases, $50 million.
Things that are too good to be true, are.
When you see something coming...
The real estate bubble...
- Housing bubble...
- Bubble...
... don't put it off.
Take action immediately.
Will there be a soft landing,
or will the bubble burst?
A new story, the mortgage meltdown.
This morning in the mortgage meltdown,
new numbers showing
that a record number of Americans
More than 70 mortgage companies have failed
in the last few months in America,
and now the biggest of the big companies,
the Bear Stearns, the big banks,
The fifth largest investment bank
in the country, Bear Stearns,
is being sold
for just $2 a share to JPMorgan.
It's being assisted by the government,
which is stepping in to guarantee
some $30 billion
in Bear's toxic real estate assets.
You've got to imagine that Hank Paulson
didn't think he signed up for this
when President Bush picked him
Hank Paulson may now have to undo
some of the deregulation measures
that he and his peers on Wall Street
pushed through when he ran Goldman.
Treasury secretary Hank Paulson
telling Matt Lauer this morning,
"We're all over it.
I've got great confidence in our markets.
"They're resilient. They're flexible."
Ali, the truth is that Bear Stearns is only
a very small fraction of this story.
Our economy could face far worse
than a recession.
In the wake of Bear's collapse,
Lehman Brothers is scrambling
to reassure investors about the impact
of the mortgage crisis on its own assets.
Insurers of the firm under a great deal
of pressure this morning.
Dick Fuld, a 39-year veteran of Lehman
and the longest-running CEO
of a major investment bank on Wall Street,
has pulled the firm back
from the brink during other crises,
but today, for the first time that I'm hearing it,
investors are questioning his leadership.
- Motherf***er.
- One key question
investors have for Lehman Brothers,
"What's the true earnings power
of this investment bank's business?"
- Hey.
- Get up here.
We gotta start stacking sand bags.
What are you talking about?
We're down 21%. On paper, I just
lost $90 million, personally.
With investors pummeling Lehman shares,
the big question this morning is,
"What options does Fuld have?"
So far, he has failed to raise new capital
while virtually all of his rivals
have already done so.
And now, hedge fund manager David Einhorn
is publicly questioning the accuracy of...
Anything good?
It's a red-tailed hawk, first one this year.
Dick Fuld's on one.
... to provide credible answers.
So let's go through a couple of those,
what you call discrepancies, because...
- Tough morning?
- We show top-quality earnings,
- we beat every prediction.
- Yeah.
It's the damn short-sellers.
You know the game, short and distort.
They're rumormongers
and they're making a killing.
What are your plans for a capital raise?
We're way ahead of you.
Now, let me be clear,
we don't need the cash.
It's about perception.
Buffett, Buffett.
We're thinking of reaching out
to Warren Buffett.
Great.
You and Buffett go back, right?
Do me a favor and call him.
Tell him Lehman is rock solid.
As Treasury secretary,
I can't advocate for a specific investment.
Hank, you want me to raise capital or not?
Lehman Brothers is a hell of a lot bigger
than Bear Stearns.
The market is terrified.
When I was running Goldman,
I never even conceived
of asking the Treasury secretary
to cut a deal for me.
Yeah, but the Bear bailout created...
Please don't call it a bailout.
Okay, the very large Bear Stearns
purchase assistance package
created an expectation.
Fuld's counting on
direct intervention from you.
Buffett's a simple solution.
I think you make the call.
As what? Warren's friend? His former banker?
The Treasury secretary?
No. Fuld's calling him.
Hopefully he'll jump
in and we can all relax.
Relax? We just buried one investment bank,
we got another one that's barely breathing.
This is a confidence game.
People lose faith in Lehman,
these banks are gonna drop like dominoes
and I don't have the authority
We're late. We've been late on everything.
Translation
Translate and read this script in other languages:
Select another language:
- - Select -
- 简体中文 (Chinese - Simplified)
- 繁體中文 (Chinese - Traditional)
- Español (Spanish)
- Esperanto (Esperanto)
- 日本語 (Japanese)
- Português (Portuguese)
- Deutsch (German)
- العربية (Arabic)
- Français (French)
- Русский (Russian)
- ಕನ್ನಡ (Kannada)
- 한국어 (Korean)
- עברית (Hebrew)
- Gaeilge (Irish)
- Українська (Ukrainian)
- اردو (Urdu)
- Magyar (Hungarian)
- मानक हिन्दी (Hindi)
- Indonesia (Indonesian)
- Italiano (Italian)
- தமிழ் (Tamil)
- Türkçe (Turkish)
- తెలుగు (Telugu)
- ภาษาไทย (Thai)
- Tiếng Việt (Vietnamese)
- Čeština (Czech)
- Polski (Polish)
- Bahasa Indonesia (Indonesian)
- Românește (Romanian)
- Nederlands (Dutch)
- Ελληνικά (Greek)
- Latinum (Latin)
- Svenska (Swedish)
- Dansk (Danish)
- Suomi (Finnish)
- فارسی (Persian)
- ייִדיש (Yiddish)
- հայերեն (Armenian)
- Norsk (Norwegian)
- English (English)
Citation
Use the citation below to add this screenplay to your bibliography:
Style:MLAChicagoAPA
"Too Big to Fail" Scripts.com. STANDS4 LLC, 2024. Web. 18 Apr. 2024. <https://www.scripts.com/script/too_big_to_fail_22075>.
Discuss this script with the community:
Report Comment
We're doing our best to make sure our content is useful, accurate and safe.
If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly.
Attachment
You need to be logged in to favorite.
Log In