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00:00:02.
00:00:22So you knew?
00:00:24No, I didn't know shit.
00:00:26Surely it was obvious that I couldn't stand the little creep.
00:00:28He was in our house, practically swallowing you.
00:00:30Well, you should have been fucking specific.
00:00:33You introduced us.
00:00:34You didn't think, I don't know, maybe if you had concerns
00:00:37about a life-altering disaster,
00:00:40one that you helped me get into!
00:00:42You need to stop speaking to me like that!
00:00:46You never had the right, and you certainly don't have it now!
00:00:51Because what the fuck are we gonna do?
00:00:54Honestly, what the fuck am I gonna do?
00:00:57I mean, now that you're implicated?
00:00:59What does it mean?
00:01:00It's a self-mythologizing nonsense.
00:01:02It reads like a guru terrorist manifesto!
00:01:04It's a threat!
00:01:09Look, I think, uh...
00:01:11I think what he's saying is that ignorance is not a credible legal defense for me.
00:01:16He's saying I won't be spared jail.
00:01:18Oh, my God.
00:01:19Should I wipe my phone?
00:01:21My emails?
00:01:22No, no, no.
00:01:23I don't think so.
00:01:25It's an admission of guilt.
00:01:26Yeah, but I'm not guilty!
00:01:27I don't think it matters anymore, does it, Henry?
00:01:32Fucking headlines write themselves.
00:01:34I mean, we live in a house paid for by tender.
00:01:38Both of our salaries will be cut off.
00:01:40Our stock is worthless.
00:01:42Where is the rest of the money, Henry?
00:01:47What?
00:01:50What?
00:01:50Where the fuck is it, Henry?
00:01:51No one could put that much in their arm!
00:01:53You still have a fucking nose on your face!
00:01:55So where's the rest of the money?
00:02:00I used it to, um, to buy some...
00:02:03Well, to buy tender stock.
00:02:09Oh, my God.
00:02:11Yeah, why are we talking about money again?
00:02:15The public perception of my morality is on the block,
00:02:19and please, take this with the love with which it is intended,
00:02:21but nobody gives a fuck about how you come out of this, okay?
00:02:24Not in the wider skin!
00:02:25Are you kidding me?!
00:02:27Henry, we could end up with nothing!
00:02:29We could end up with nothing!
00:02:30How can you give a single shit about the fucking press release?!
00:02:33Because it's what matters!
00:02:36Because I want to be better!
00:02:39Because that's the purpose of living a life, to be better!
00:02:43You know, I am a good person,
00:02:44and the world shall tell that back to me,
00:02:46otherwise what am I doing here?!
00:02:48What am I for?!
00:02:49Oh, my God!
00:03:00You're right.
00:03:05You're right.
00:03:06You're right, of course.
00:03:06I'm so sorry.
00:03:07I'm sorry.
00:03:08I'm sorry.
00:03:09I'm sorry.
00:03:09I'm sorry.
00:03:11I'm okay!
00:03:14I'm sorry.
00:03:28I'm sorry.
00:03:30I'm sorry.
00:03:39we are not the ones to blame here
00:03:44other people let this happen
00:03:47remember that
00:03:52of course
00:04:13fuck it snapped back tenders up almost 10% already
00:04:17they've issued another press release of Tony Day's denials in writing
00:04:21anything new in it claims are baseless and misleading and do not represent the
00:04:25company's financial reality company maintains a robust internal framework I
00:04:30mean this year is literally designed to make any reader glaze over everything
00:04:34is a rehash at this point anything about a new order no just affirmations of
00:04:38the results of previous ones okay so we hold the line until a new one is
00:04:43confirmed yeah well who's forcing them into that without another order we're
00:04:47dead in the water well I mean maybe it's time we meditate on how we catalyze the
00:04:55audit that kills them
00:05:01what would Eric's take beyond that how should I know he decided not to be here
00:05:25it's time
00:05:26it's time to be here
00:05:38shall they not
00:05:46can you uh let me gather my thoughts for a second sorry
00:05:53take your time we don't have much
00:05:59felt like i'm in the room as a reptile no just a man
00:06:07get whatever you need to off your chest because i need you to focus
00:06:15i've been thinking about going to the authorities all night why shouldn't i
00:06:18you already know why you didn't go or you would have gone
00:06:23i'm an accessory you're the face of the company an accomplice fraud embezzlement market manipulation
00:06:31hire the cream of the legal crop you're not escaping jail time henry
00:06:38so why write me that letter think of the optics if my ceo went awol now besides
00:06:48we're close enough for honesty fuck yourself everything we have done since we partnered
00:06:55has been true why let them rob us of our glory for what was at the time necessary balance
00:07:02sheet imagination our share price will continue to recover tenor 2.0 has successfully transitioned
00:07:08us into real revenue and phased out inflated third party acquisition for us fake do you
00:07:17start using the fucking word fake i watched stern tower's presentation which part of it was wrong
00:07:25exactly it's simply a misalignment between the velocity of my vision and the velocity of regulation
00:07:30and that gap is where smart people have always made money henry look at me
00:07:37we have to buy time make a clean audit as protracted a process as possible delay and complicate until
00:07:46some of our uh overrepresented cash flows can be swallowed by a much larger balance sheet how
00:07:53targeted acquisition hostile takeover because this is as simple as saying that right how the fuck would
00:08:01that even work a few months ago when you said we should increase our stake in peer point i used
00:08:08cayman
00:08:08and luxembourg spvs to build an undisclosed synthetic position to buy shares in peer point
00:08:17al mirager spinning peer point out they've been looking for an exit practically ever since they
00:08:22bought the old bitch do you even know what you sound like this is how it's gonna play we say
00:08:28due to a
00:08:30transformational merger any audit must reflect pro forma consolidation we need to hire more advisors
00:08:39since you unwisely fired my auditor of choice we have to add intermediaries add complexity to the
00:08:44uh jurisdictional fog if it waters us plus the media smokescreen of a turbo bullish headline
00:08:54i don't think there's a single person on earth who thinks like that in this scenario
00:09:00no you're lucky you have me
00:09:08what do i what do i do believe in us
00:09:15one more time
00:09:19whitney the board's convening in an hour
00:09:29whitney the board's convening in an hour
00:09:39i'm sure his colorful roguish language will continue to play well for the andrew tate clones and russian bots who
00:09:45like all his posts
00:09:46this shouldn't descend into cheap point scoring it is clearly in the public interest to understand what position tender is
00:09:53now in and what risk it might now pose
00:10:26i mean that is a serious allegation you're making against the minister personally
00:10:29yes do you have proof what you're saying is a deliberate inflammation of totally normal practice
00:10:33so you are in bed with them
00:10:34but look i'm not in bed with anyone apart from my husband sorry you almost have a scoop there
00:10:39yes
00:10:39yes you have no proof
00:10:42look i understand the mainstream media hasn't deemed this front page news yet
00:10:45but uh people's lives and their hard-won finances
00:10:49they don't play out in the business pages these are real people this is real money
00:10:53these are not pieces on white horse chessboard
00:10:56lisa has uh has made a career attacking conservative cozy contamination of party politics and business beliefs
00:11:02all i would say to your listeners is sometimes when you are shown a hypocrite
00:11:07all you can do is hand them a mirror
00:11:09look we've heard the spiel uh and we don't need to hear it again
00:11:11far more important is the question of how vulnerable this bank is
00:11:15there are suggestions of business secretary you have seen on social media
00:11:19alexander um are you in london
00:11:26what's the blast radius of this fucking thing how big could it get and how quickly
00:11:30we were doing our jobs and fulfilling the pm's brief
00:11:34the insistent messaging about post-brexit dynamism
00:11:38the amount of bastard times he said to me
00:11:39lisa we can't keep losing contracts to frankfort and dubai
00:11:42make the world feel we're pro enterprise
00:11:44if you think deflecting blame to number 10 is going to help your cause
00:11:47i'd advise a rethink we don't know what we're dealing with yet
00:11:49we may have been elected with the sandcastle majority
00:11:52but it doesn't mean the pm needs to govern like a shit scared kremlinite
00:11:55we're not going to wear that risk
00:11:57what's stopping us flushing this out calling our own audit
00:12:00we can't mark our own homework
00:12:02fuck's sake
00:12:04and what does a fucking self-inflicted bailout do to our sandcastle majority
00:12:10the pm's going to want a fucking nine
00:12:19thanks for not throwing me to the wolves
00:12:22i'd probably stand up for david cameron against that
00:12:25toady gobshite
00:12:27can i offer you an apology
00:12:30spare me
00:12:31i backed you
00:12:32and then i watched your naivety play out in slow motion
00:12:35maybe we can ride this out
00:12:37how many off-book meetings did you have with tender management
00:12:41how many times did the mucks pick up the tab
00:12:43how frequently are you recorded as being in their offices or their home
00:12:47make no mistake if this flares up anymore
00:12:49they'll throw a body overboard before politics hour
00:12:52and your answer to those questions is more damning than mine
00:12:56sorry
00:13:06yasmin it's jenny
00:13:08um
00:13:09thanks for reaching out
00:13:11listen i i do think i need to speak to norton
00:13:15and kevin from the red top
00:13:17kevin thinks the prime minister is a marxist jenny
00:13:20i mean he makes marine le pen like a lib dem councillor
00:13:23i still think i am gonna need the help of the norton tabloids
00:13:27i'm just
00:13:29i'm trying to see how i'm gonna land in the fallout
00:13:32you sound a little scared
00:13:35i just need to understand my options
00:13:37i need to be smart
00:13:39yeah okay
00:13:40well
00:13:41look i'm here to help so let me see what i can do
00:13:44alright
00:13:52sounds like they're scrambling
00:13:54yeah
00:13:56look it's best for the family to start shaping a narrative
00:13:59that shifts the blame to the right place
00:14:04labour's relationship with halberstrom predates man and henry's involvement in the company
00:14:10i think that's the story
00:14:13i think we should use the tabloids
00:14:15kevin
00:14:21he's the right man for this
00:14:24you know if we splash with this
00:14:26leave with the government
00:14:27i don't think there's any way the company survives
00:14:30would you factor that in
00:14:35it's what's best for the family
00:14:39yes you keep saying that
00:14:43maybe there's no need for me to put this delicately but
00:14:46may i inquire about the status of your marriage
00:14:53you've seen my marriage alexander
00:14:56his behaviour is treatment of you it hasn't improved
00:15:02you know i'm not saying that i'm blameless
00:15:07you know there are high highs
00:15:10but the lows are low
00:15:15you know he's unfaithful
00:15:18i know he's an addict
00:15:19but
00:15:20he's relapsed
00:15:21drink
00:15:23definitely booze
00:15:30i'm not sure about the rest
00:15:31i mean i know that
00:15:33he's a cocaine user
00:15:39and i know he's used heroin
00:15:49often
00:15:57often
00:16:01often
00:16:02often
00:16:07good afternoon everyone
00:16:09we want to launch stock for stock hostile takeover of peer point ahead of their agm this week
00:16:15tenacious
00:16:16henry and i could jump on a flight tonight
00:16:18our stock continues to rally so we'll be trading at a premium to peer point
00:16:21i don't understand why we aren't privileging a new audit we have nothing to hide
00:16:26if there are no skeletons in the closet why not open the closet
00:16:30i imagine there is a time sensitivity issue
00:16:33also a confidentiality issue around disclosure of valuations in the deal terms
00:16:39henry
00:16:40you're whitney's chosen man
00:16:42is he making the right call here
00:16:49for fuck's sake henry
00:16:50tell them how passionately you lobby me for this as a fearless leader and ceo
00:16:57you
00:16:58al miraj peer point
00:17:00is already subject to audit supervision
00:17:03we could consolidate
00:17:05post-acquisition
00:17:07and submit to a group-wide audit
00:17:11next year
00:17:13this is an essential move for our longevity
00:17:17we're saying to the world and market
00:17:19we aren't scared
00:17:21we don't run
00:17:24running is not an option
00:17:27to be clear
00:17:28this isn't
00:17:29final acquisition approval
00:17:31correct with this vote
00:17:32authority is hereby delegated to ceo and cfo
00:17:35in concert with legal and compliance structure
00:17:38any transaction return to the board with final terms
00:17:41all against
00:17:47i think it's high time the men leading this company stopped sidestepping substantive questions
00:17:52court
00:17:53all in favor
00:18:06thank you everyone
00:18:07this resolution is adopted
00:18:10do you ever look out of that crotch
00:18:23my only vice
00:18:24well one of them
00:18:26never see me without it
00:18:28you can assume i'm dead
00:18:32yasmin suggested to me
00:18:36that you may have uh
00:18:39compromising recordings of us
00:18:43explicit recordings
00:18:45of you and who
00:18:48do you
00:18:50what do you think
00:18:53think i'm capable of that
00:18:57yeah
00:18:58yeah i do
00:18:59and then you answered your own question
00:19:10yeah
00:19:11wilhelmina we're on our way to see you
00:19:13i'm warning you i am getting a huge amount of blowback about the tinder headlines we prep for tomorrow's AGM
00:19:19there's rumors of an almaraj term sheet floating around where it is you're being sold
00:19:23clean structure laughable leverage ratio
00:19:25that is
00:19:28not
00:19:29entirely
00:19:29inaccurate
00:19:30what are they pricing you at
00:19:32what are they pricing you at
00:19:331.2 times book
00:19:34and uh
00:19:3590 day clawback window
00:19:36you're not far off
00:19:38the pricing is to go
00:19:40well uh
00:19:41let's speed it along for you
00:19:46henry assigned to say
00:19:47henry assigned to say
00:19:58almaraj never loved you
00:20:01and had no idea what to do with you
00:20:06we could be a transatlantic giant
00:20:09you're not buying a fucking lollipop for christ's sakes
00:20:12there's stakeholder optics governance
00:20:14it's a process
00:20:16then give the floor to me
00:20:17well how do you mean at the AGM
00:20:19no you have no formal standing
00:20:21you have the power to cede the floor to me under special motion
00:20:24you're not a stakeholder of record
00:20:26it should be known that we're holding peer point stock under a number of nominee structures
00:20:30and we're an important strategic partner
00:20:31i don't have to be noisy about price suppression or god forbid talk about the undeclared sovereign wealth in your
00:20:36recap structure
00:20:38what it doesn't exist
00:20:40well me saying it's almost as bad as it existing
00:20:42or i could leak my counter evaluation of the press
00:20:46or worse say that uh
00:20:49how mirage is a distressed seller in no position to make a strategic exit
00:20:54i'll tie cinder blocks at the peer point price and throw it in the hudson
00:20:59yeah point made
00:21:02you want to use our AGM to declare a hostile takeover
00:21:05hostile without hostility
00:21:07i want to offer a premium
00:21:10how mirage wants out
00:21:12let's give them above market print
00:21:14you'll get your clean attractive exit
00:21:18and a halo for everybody's fucking news cycle
00:21:21and a halo for everybody's fucking news cycle
00:21:21look for two smiles in the crowd
00:21:27making our final approach to new work shortly
00:21:39sorry about how we covered your old man
00:21:41what kind of ghastly stuff you went through
00:21:43don't worry
00:21:44he was a bastard
00:21:46well that was the angle that sold
00:21:48i'm here
00:21:49hi
00:21:49i need to run and grab jen
00:21:53take your seat jenny
00:21:57well you know it almost feel like it's sort of getting on top of you
00:22:00but don't worry you're with friends
00:22:02here we have a road map
00:22:03no one's gonna ask you to do anything
00:22:05you can just sit there and listen
00:22:07you don't need me to tell you how radioactive this is for the government
00:22:12someone's going down for it
00:22:13and lisa is already feathering her nest
00:22:16what have you heard
00:22:17you don't get to her position by acting impractically
00:22:22i mean she's positioning herself to come out of this as the adult in the room
00:22:27jenny
00:22:29did you ever raise any red flags about tender
00:22:33did you feel stonewalled by top-down expectations
00:22:38i haven't had a chance to reckon with any sort of hindsight
00:22:43um pressure to help party leadership
00:22:48but lisa was always the cautious one
00:22:50yeah see i i'd cut that
00:22:52the messaging is pretty simple
00:22:54you were a young dissenting voice overruled by grim old bureaucrats
00:23:00your warnings were ignored
00:23:03you know you were principled youthful uncontaminated
00:23:07but you know how much of this i was driving
00:23:10i mean i was a guest at a private residence for fuck's sake
00:23:13i am the tainted one
00:23:14but nobody knows that
00:23:17i'm not gonna tell anyone
00:23:18if that's true why'd you even need me
00:23:21the solution's pretty fucking clear
00:23:23if this goes from page
00:23:25the company is finished
00:23:27i have deniability
00:23:28i was just one of thousands of global employees
00:23:41what would you need
00:23:42anything
00:23:43memos
00:23:45minutes
00:23:46documents that can overstate the case for lisa's proximity to tender
00:23:50and communicate her passion for it to succeed at any cost
00:23:55lies
00:23:56points of emphasis
00:24:11journalism
00:24:14shouldn't be about myth-making
00:24:17for an aristocratic class
00:24:19i-i-i can't
00:24:21lisa
00:24:22brought me into government
00:24:24i wasn't even gonna run
00:24:25but she-she lobbied the national executive committee
00:24:29she pushed for the safe seat
00:24:31what were you hoping would happen in here exactly
00:24:34no no but when it's laid out like this so brazen
00:24:37i-i-i can't do that to her
00:24:39look this-this entire conversation is off the record alright?
00:24:44alright?
00:24:44naturally
00:24:51we appreciate your...principles
00:24:58honestly these women are hilarious
00:25:00how do they think this ends?
00:25:03if beban's not gonna play ball we need to figure out another way to stick this on durn
00:25:07well what if we picked it up from another source?
00:25:10i mean surely then we avoid direct liability for sourcing and verifying and leak
00:25:15if there is a leak
00:25:17a memo
00:25:19pick it up and make it pop
00:25:21smart can say we're reporting public domain
00:25:24let's risk a defamation claim
00:25:25ideally it would be an investigative outlet
00:25:28out of an ear of credibility
00:25:30by the time we publish
00:25:32westminster will be aflame with the early report
00:25:34and we can confirm it as a coup de grace
00:25:35these amateurs wanna test the media food chain
00:25:38hmm
00:25:39maybe the front page of a red top
00:25:41can still turn a minor outlet's work
00:25:44into a fully fledged fucking career ender
00:25:50don't sound so excited
00:25:53just leave it with me
00:25:56great to meet you kevin
00:26:01hard fucking bird
00:26:13happy to see me?
00:26:15or is that impossible now?
00:26:17i'm actually a little more than surprised
00:26:26so this is the nerve center
00:26:29hmm
00:26:31where is everyone?
00:26:32it's just me this afternoon
00:26:37lonely?
00:26:39always
00:26:49how have you two not killed each other yet?
00:26:51he exited the fund
00:26:53maybe we finally did
00:26:54coffee?
00:26:58thank you
00:26:59thank you
00:27:00mm-hmm
00:27:03so um
00:27:05i have it on good authority that
00:27:07Dern and Bevan have been in the Norton offices all morning
00:27:10trying to save face and torch the other
00:27:13cover up is on huh?
00:27:16yeah the whole thing stinks
00:27:17i can personally verify that government officials were far too close to tender management
00:27:23i mean the pressure
00:27:25they wanted everything done yesterday
00:27:26i remember Dern introducing Henry at web horizon
00:27:29wasn't Bevan at Henry's 40th or am i misremembering?
00:27:33yep
00:27:33at Dan's request
00:27:34but it goes far deeper than that
00:27:36i mean Dan was always in our offices
00:27:39you know the whole cabinet saw her as an
00:27:43anti-business trade union lover
00:27:45she wanted to use tender as an antidote to that
00:27:48a trophy
00:27:49maybe Diger missed a big piece of the story
00:27:52no i think this is the story
00:27:59and then there was the memo
00:28:06what memo?
00:28:08Bevan says that Dern told her department to bury a briefing note
00:28:13tender represents a risk to UK regulatory credibility type of thing
00:28:17and it was suppressed
00:28:18at a ministerial level
00:28:22FCA, PRA, National Audit Office
00:28:24well i don't know
00:28:26like i said i didn't see it
00:28:28this is just what i was told
00:28:35you'd bet a political firestorm would speed the end of the company
00:28:40your job to bet
00:28:41not mine
00:28:46questions in parliament
00:28:48public inquiry
00:28:49independent audit of the government's interactions with the company
00:28:53maybe a government mandated audit and tender
00:28:58don't fuck me around yes
00:29:00come on
00:29:01be blunt what are you asking me to do
00:29:06i'm working on my own
00:29:09escape
00:29:09escape
00:29:11i'm managing the timing of my resignation
00:29:13and also steering people to know that i was a constant lone dissenting voice in the company
00:29:19you weren't though, right?
00:29:23what difference does it make?
00:29:28our interests finally align
00:29:33get this in front of someone willing to write about it
00:29:37the share price isn't gonna tank itself
00:29:42help me help you
00:29:49the wake was a riot
00:29:50with a beautiful eulogy from his mother
00:29:55jim was very honest in his dealings with me
00:29:58trust me i tested him
00:29:59there was no
00:30:01personal financial angle at all
00:30:06i uh...
00:30:09i heard from someone that warnings were made and ignored about tender
00:30:13that labor's business department are now at war passing the buck
00:30:18well your um...
00:30:20sweet pea go lightly got quite close to bringing us an insider
00:30:24or so she made it seem
00:30:27you should probably
00:30:28all leave journalism to the journalists
00:30:32look there's... there's talk of memos
00:30:35a top-down culture of
00:30:38act now questions later
00:30:40yasmin muck who ran their comms repeatedly
00:30:43raised concerns again on deaf ears
00:30:46do you have access to these memos?
00:30:48no
00:30:49no i'm told they exist
00:30:53what do you want me to do then?
00:30:55frame the article as a question
00:30:57don't name me
00:30:59call me an insider
00:31:01a market source
00:31:02whatever
00:31:04no one else has this
00:31:06you can be cautious in your wording
00:31:08but any question is provocation
00:31:11the public's money is tied up in this
00:31:16your face does this amazing thing when your concerns become moral
00:31:20your eyes soften
00:31:23like you're trying to trick your physiognomy into telling yourself you actually care about it
00:31:27this shit
00:31:31i'm tipping you off on a huge story
00:31:33has that been lost in the wash?
00:31:35make some calls
00:31:36whitehall the regulators
00:31:38build it out that's not my job
00:31:42good opportunity for you to carry jim's torch
00:31:44don't do that
00:31:46jesus christ let's... let's all agree that that... that there's fucking grotesque
00:31:51jesus
00:31:55it's like the saddest fucking thing in the world
00:31:59what's that?
00:32:03unfulfilled potential
00:32:04that's going to know
00:32:04that's gonna be in the world
00:32:05let's go
00:32:19that's going to be in the world
00:32:32and then we just see you
00:32:32oh
00:32:33vamos
00:32:48Not a fucking word.
00:32:56All right, all right, all right, okay.
00:33:13You've reached Albstrom.
00:33:15Leave a message.
00:33:29Fuck.
00:33:34How is meticulous at every stage like you possibly know?
00:33:38You're dead, Dropphone.
00:33:42The identical model to the one you often stare at.
00:33:45The one you rarely turn on.
00:33:47The one you take the sim out of.
00:33:48Powered it on when you land it and auto-connected to the airport's Wi-Fi.
00:33:53Fuck!
00:33:54Fuck!
00:33:55That airport is a surveillance choke point.
00:33:57The calls to your fixer and the subsequent ability to map the flow of cash exchange around the calls.
00:34:04First payment of $120,000 to Sunpath Living Residential Solutions, a jihazza disappearing company in Saitama prefecture.
00:34:13These night-moving companies aren't the real deal.
00:34:16It's like witness protection.
00:34:18Someone wants to find you, they'll find you.
00:34:20Please, please, just let me catch my flight and disappear.
00:34:23You won't hear from me again.
00:34:24It is not an option.
00:34:27While Tanda has a pulse, it remains a very useful data set.
00:34:32So what if...
00:34:35it dies, I go with it?
00:34:36On the contrary.
00:34:39You stick around and face the consequences of your actions without implicating me.
00:34:45Us.
00:34:46Escape is a fantasy.
00:34:49You're only hearing this because they want you to.
00:34:52You no longer exist outside their tolerance.
00:35:00And the journalist...
00:35:03...Diker...
00:35:06...Do you, uh...
00:35:08...Finish him, too?
00:35:10You learn very fast that compliance is the only logical path.
00:35:15Continue on to the AGM and everything can be compartmentalized.
00:35:19Tender Bank Pierpoint opens up an entirely new data set.
00:35:23Tender's the future.
00:35:26Tender's real.
00:35:28Tender's beautiful.
00:35:32Just act like the great lie of your life is not that different from its only truth.
00:35:36You're world class at this performance.
00:35:40I'll find the version of you that fucking remembers that.
00:35:47Go.
00:35:48Off you, fuck.
00:36:09What did you argue your phone?
00:36:10Go to sleep.
00:36:11Who the fuck was that?
00:36:12Someone had money to.
00:36:14Fucking who?
00:36:15It's a guy I see when I'm here, okay?
00:36:17What guy?
00:36:18Just a fucking guy.
00:36:22What, you never fucking paid for it?
00:36:23Go to sleep.
00:36:36Did you see the story that ran on Fin Digest overnight?
00:36:41Fin Digest?
00:36:42It's a digital fucking pamphlet.
00:36:44Proper drilled into your department's cosiness with Tender C-Suite.
00:36:48I got a pre-publication notice from the tabloids on the back of it.
00:36:53They picked it up.
00:36:54And now Norton wants to position you as Tender's chief governmental architect.
00:37:04Not much spin we can put on your dozen or so Tender office visits,
00:37:08your introduction of Henry to Webberizon, or your photo op with him.
00:37:12What about their reporting of a suppressed internal risk assessment warning against Tender's rollout in the UK?
00:37:20You know this is prefaced by sources claim, because it doesn't fucking exist.
00:37:24Your initials are on the provisional authorisation merger
00:37:28and the granting of Tender's UK banking licence that followed hard behind it.
00:37:32And what else did those minutes show?
00:37:34The moment you walked into that meeting endorsing the PM's wishes it became a done deal.
00:37:39Funnily enough, Norton and his bullshit complex didn't mention that.
00:37:42Who else? Which regulators didn't you hit?
00:37:45How many red flags did you torch before those cowards could run them off a flagpole?
00:37:49Wow.
00:37:50Does sound enough make you feel better?
00:37:54Right.
00:37:57Quit yourself if you're charged, for I have long been prepared.
00:38:00Excuse me?
00:38:02It's what Anne Boleyn said before the blade kissed her pretty white neck.
00:38:07It means get the fuck on with it.
00:38:10I accept ministerial responsibility and I will weigh resignation as a point of principle.
00:38:17Okay?
00:38:19Like fuck you, Will.
00:38:22The PM's expecting your resignation letter on his desk before the story runs.
00:38:29Short and sweet, to his point.
00:38:33You're always too romantic, Lisa.
00:38:37You mean secretary of state.
00:38:41No, I don't.
00:38:57We remain well capitalized with a core tier one capital ratio of ten point eight percent.
00:39:05I'm not feeling myself.
00:39:07Now, as ever, I would like to close my remarks by saying that we at On The Right's Care Point
00:39:12pride ourselves on our proximity to regulators.
00:39:16That said, unless anyone has anything they wish to add, ladies, gentlemen, at this point I'd like to open the
00:39:23floor to questions.
00:39:25Whitney, look at me.
00:39:26Okay, quite a few.
00:39:29Do the fucking thing you do.
00:39:41Yes, I would like to start with Mr. Halverstrom, whose courage under fire leadership of our strategic partner, Tender, has
00:39:49not gone unnoticed.
00:39:51Whitney, you want to kick us off?
00:39:53Any operational insights you'd like to share?
00:39:58Hi, everyone.
00:40:03I speak on behalf of myself and our CEO, Henry Muck.
00:40:09It's a privilege to be with you all this afternoon.
00:40:14This is a homecoming for me.
00:40:18We'd like you to be one for ten or two.
00:40:29I don't have a question.
00:40:39I have an offer.
00:40:45We don't see it as discretionary.
00:40:52It's deterministic.
00:40:58We want to be U.S. dollar natives again.
00:41:01Our offer for PeerPoint is 1.9 times book.
00:41:06Peers trade closer to 1.3 times, so why the health premium?
00:41:12It is a display of faith in what we believe this union to be.
00:41:21A marriage, balance sheets, regulatory infrastructure, trust.
00:41:29The offer is 90% stock.
00:41:31Your stock is too volatile.
00:41:34This man should not be heard.
00:41:36He isn't serious.
00:41:37Your company is falling apart.
00:41:39Big news.
00:41:41The tractors have been at the door since jumps from being too early, too fast, too big.
00:41:48Railroad to the internet.
00:41:49The history of industry in this country is pockmarked by a slew of disinformation from those who don't stand to
00:41:56benefit from radical thought or the displacement of worn-out structures.
00:42:01More bullshit.
00:42:04Mr. Habslam, the offer must be heard.
00:42:07Please continue.
00:42:11The offer is mostly stock for stock.
00:42:14By year one, we expect it to be earnings creative.
00:42:18By year two, this thing is going to be paying for itself through capital efficiency and operational overlap.
00:42:26I'll leave you with the words that every industrialist had sown into their souls at every point in the last
00:42:33century.
00:42:37We want speed.
00:42:40We want scale.
00:42:43We want certainty.
00:42:48We want America.
00:43:07Well, Mr. Halberstrom, we certainly appreciate your remarks, and our C-suite will take them into consideration.
00:43:21Alexander.
00:43:24Have you prepped Henry about the headline?
00:43:33No.
00:43:34Because we both know there's no hope of the company surviving this.
00:43:41No.
00:43:43Yasmin, we're not off stone yet.
00:43:45It's not too late for me to slip the page and change the splash.
00:43:49I can stop it running.
00:43:52I don't think that's wise.
00:43:57Henry won't survive it.
00:43:59This is more than just tough love.
00:44:04He's lived his entire life without any consequences.
00:44:09I mean, look where it's gotten him.
00:44:14But is this loving him?
00:44:16Yes.
00:44:17Yes, Alec Nanda.
00:44:18Yes, it is.
00:44:22We've done everything we can for him.
00:44:25No, you did.
00:44:27More than anyone else could have.
00:44:30We did everything we can for him.
00:44:37I've got to go.
00:44:39I've got to go.
00:44:40Okay?
00:44:48I've got to go.
00:44:54Okay?
00:45:17Wakey-wakey.
00:45:22Rise and shine.
00:45:23We're almost home.
00:45:26Bad sleep.
00:45:30Bad dreams.
00:45:32What was your dream?
00:45:35It was often my father leaving.
00:45:40People leaving.
00:45:43Everyone we love has already started the process of going away.
00:45:54I didn't sleep much.
00:45:58I'm waiting for Wilhelmina to call.
00:46:03Tell me.
00:46:05That Al Mirage exec who supported your speaking in the meeting.
00:46:10Mighty break, right?
00:46:13Maybe he really believes in transparency, Henry.
00:46:18Maybe he used to date Haley.
00:46:22Date?
00:46:25Sure.
00:46:31Shit.
00:46:32What?
00:46:33They pushed the business secretary out.
00:46:35Dern is gone.
00:46:38Over what?
00:46:41Wait.
00:46:44Oh, my God.
00:46:46Oh, God.
00:46:46I got an email from Kevin Rule giving me
00:46:50the opportunity to respond to
00:46:53claims made before publication.
00:46:55They're running a story about Dern's involvement with us.
00:46:59What was with you?
00:47:01What the fuck are you on about?
00:47:03No, I need to, I need to, uh, I need to call Yasmin.
00:47:08Kevin's fucked it this time, the bigot cunt.
00:47:11I'm going to go.
00:47:12I'm going to go.
00:47:12I'm going to go.
00:47:13Henry, relax.
00:47:15Focus this peer point.
00:47:17What a peer point?
00:47:19What are you talking about?
00:47:21You can't construct a universe where nothing's real.
00:47:24Nobody can really live like that.
00:47:30Do you know why you can't regulate your emotions?
00:47:36Because you're a fucking child.
00:47:39Shut up.
00:47:43I need to, uh, I just need to get a hold of Yasmin's.
00:47:45You can do that.
00:47:45Put my, uh, put my uncle up.
00:47:48I thought you hated your mother, so why is your mouth still attached to her fucking tit?
00:47:55What is this thing fucking work?
00:47:58Fuck.
00:48:03Fuck.
00:48:06Fuck.
00:48:08Fuck.
00:48:09Okay.
00:48:10Okay.
00:48:10Okay.
00:48:11Okay.
00:48:11Okay.
00:48:17Okay.
00:48:19Okay.
00:48:19Okay.
00:48:21Okay.
00:48:23Okay.
00:48:35Okay.
00:48:41Um, who?
00:48:43The fuck are you?
00:48:45I'm tamping.
00:48:46I've been sat here.
00:48:47Yeah, okay.
00:48:47Where's Whitney?
00:48:48I don't know.
00:48:49You mean he hasn't been back here since we live?
00:48:51He's been in and out.
00:48:52Okay.
00:48:53Okay.
00:48:53I go home.
00:48:54No, Yasmin.
00:48:55I come here.
00:48:55She resigned this afternoon.
00:48:59To what?
00:49:00She gave notice of her resignation this afternoon.
00:49:06Um, the LGBTQIA...
00:49:08Whitney, where the fuck are you?
00:49:09Henry, it's Wilhelmina Fastbinder from Almiraj Pierpoint.
00:49:12Whitney?
00:49:13I owe you the call, not Whitney, given my reservations about his character.
00:49:17Uh, to be blunt, I allowed his little charade at our AGM to jack up our sale to Temasek.
00:49:24It had been in the works for some time, and his proclamations about our valuation...
00:49:28...gave me a little leverage for the final negotiations.
00:49:31I...
00:49:32Okay, yeah.
00:49:33Um, have you spoken to Whitney at all?
00:49:36I haven't.
00:49:37Although I...
00:49:39I hope you realize his yarn about buying multiple positions at Pierpoint was a bluff.
00:49:44I called his supposed intermediaries.
00:49:47There's no term sheets, no interbank confirmation, no capital.
00:49:50There's no record at all.
00:49:51Nothing.
00:49:52Snake oil and sermon sound similar, don't they?
00:49:55We will all be monitoring the tender fallout closely.
00:49:58If your equity continues to crater, it will trigger the conversion on your bond.
00:50:03Hmm.
00:50:05And we will be pursuing full recovery so that our institution doesn't suffer.
00:50:11Um...
00:50:12Good luck.
00:50:12And I ran, I ran for the night and day.
00:50:19I couldn't get away.
00:50:23Ooh.
00:50:24Ooh.
00:50:26Ooh.
00:50:28Ooh.
00:50:31Ooh.
00:50:33Ooh.
00:50:35Ooh.
00:50:36Ooh.
00:50:38Ooh.
00:50:39Ooh.
00:50:41Ooh.
00:50:42Ooh.
00:50:42Ooh.
00:50:47Ooh.
00:50:48Ooh.
00:50:49Ooh.
00:50:53Ooh.
00:50:55Ooh.
00:50:56Ooh.
00:50:57Ooh.
00:50:57Ooh.
00:50:58Ooh.
00:50:59Ooh.
00:51:01Ooh.
00:51:02Ooh.
00:51:04Hi.
00:51:05Jenny.
00:51:06I'm just checking how you're feeling after how everything landed for you today.
00:51:10Did you hear Dern's resignation speech?
00:51:13No.
00:51:14I'm sure I'll get the highlights on Twitter or whatever.
00:51:18It's full of prevarications, spares the PM.
00:51:22I mean, the sentences carry about as much weight as a tender press release, if I'm honest.
00:51:27Listen, it's lit.
00:51:28You see yesterday's news.
00:51:29Well, I mean, it's tomorrow's news, obviously.
00:51:33But good luck with your television appearance.
00:51:36It's a really great boat of confidence that the PM wants you to be the place to front this thing.
00:51:41And call me after.
00:51:42We can talk about how I can drive the rest of your communications.
00:51:47I'm sorry.
00:51:48What?
00:51:48Why would I want or need that from you?
00:51:52How much did you know?
00:51:55What, about tender?
00:51:57That leak to Fin Digest that catalyzed the whole Red Top story was...
00:52:01Was that you?
00:52:04It doesn't help you to know.
00:52:05You have no fucking right.
00:52:08You know this is crashing down around.
00:52:10The right people will survive.
00:52:12I've only ever seen the sunniest version of your disposition, and I increasingly wonder if that's because I've only ever
00:52:17acted exactly how you designed.
00:52:19Look, I know that you're under a lot of stress, but can you, um, can you not take this out
00:52:23on me?
00:52:24The real cancer in our politics are the pig shit thick lightweights without a single real belief.
00:52:29Except for their own self advancement.
00:52:31You knew what taking that meeting meant.
00:52:33You got exactly what you wanted, and I have been a genuine friend to you.
00:52:37What a fucking friendship.
00:52:39This has been a marriage of convenience, but I suppose you're used to those.
00:52:45You know nothing about my marriage.
00:52:47I know that your husband is an addict, and I know that you deserted him to his ruin.
00:52:52You abandoned him when he needed you the most, so you take that for a fucking dance around your conscience.
00:52:56Oh, fuck you!
00:53:03Fucking Dave! You son of a fucking bitch!
00:53:06Don't look to a stranger.
00:53:10You know in the end.
00:53:15I'll always be there.
00:53:20Yes, yeah, thank you so much for letting me know. Speak soon.
00:53:26That was Burgess?
00:53:28Mm-hmm.
00:53:29Big story in the tabloids tomorrow, front page.
00:53:32The serious fraud office are announcing their investigation in the afternoon.
00:53:36Yeah, the government's just mandated a section 166 skilled person review into tender's compliances and risk controls.
00:53:43The FCA are instructing PwC.
00:53:45Stock's indicating to open down 77%.
00:53:52No one wants to catch the knife.
00:53:55Tomorrow morning, we hit the tape small, don't show our hand, and exit as efficiently as we can.
00:54:03Show me dollars.
00:54:09Good.
00:54:10Yeah, we're all speaking the same fucking language.
00:54:13Hey, what's up?
00:54:22You must be levitating.
00:54:26Yeah.
00:54:28Ironic, I'm here with you.
00:54:32Yeah, you used to make me feel very alone.
00:54:37Now you're the only person in the world that I feel alone around.
00:54:44I didn't want any of this to come at your expense.
00:54:48It's kind of anything you've ever wanted, really, isn't it?
00:54:50Me like this and you like that.
00:54:56It's true, it is.
00:54:59It is.
00:55:02Thanks for your honesty.
00:55:07I mean, seriously, how the fuck did we get here?
00:55:11Fuck if I know.
00:55:13What drives anyone anywhere?
00:55:16Lack and need.
00:55:25I'm so jealous of you.
00:55:29I am.
00:55:30You're so smart, you know?
00:55:33And the way that you wear it, you have this command, you know?
00:55:38This autonomy.
00:55:39I'm so fucking soft.
00:55:45I don't really know how to say this without...
00:55:53I would do anything to live a day in your body and...
00:55:58And just, like, see how the world opened up around me.
00:56:08I really resented you for being a breathing example of how I was less.
00:56:18I choose to love you for being a breathing example of how I can be more.
00:56:28I just want to be necessary.
00:56:32I've never been necessary.
00:56:34Well, like, where does that come from?
00:56:37Like...
00:56:37The need for control.
00:56:40Or...
00:56:41Desire to dominate.
00:56:43Is it...
00:56:45So you can say...
00:56:48I don't know, you were never at anyone's mercy?
00:56:54I don't know.
00:56:59I don't know.
00:57:00I don't know.
00:57:03I guess...
00:57:06I guess I kind of grew up as someone's mercy.
00:57:26I'm sorry.
00:57:32I'm sorry.
00:57:37Do you want to go out?
00:57:41I mean, like...
00:57:43Just blow things away a bit.
00:57:45You know?
00:57:48Do all the things that Lorde sings about.
00:57:51Lorde sings about being 17.
00:57:52Exactly.
00:57:55God, I wish I was still 17.
00:57:58Girl...
00:57:59It was so easy to get people to do things for you.
00:58:03It was so easy to get people to do things for you.
00:58:09Will you promise me something?
00:58:11Hmm?
00:58:14Will you look after me tonight?
00:58:16When the fuck are you gonna look after me?
00:58:20tonight.
00:58:22The night...
00:58:22The night.
00:58:26Over my heart...
00:58:28The night.
00:58:32The night...
00:59:30You have no idea how good I feel right now.
00:59:36We're here forever, even if we can't be.
00:59:58We're here forever.
01:00:13We're here forever.
01:00:16We're here forever.
01:00:46We're here forever.
01:00:46We're here forever.
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