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00:04:38No, no, no, no, no, no.
00:04:50Yeah, well, I mean, maybe it's time we, uh, meditate on how we catalyze the audit that kills them.
00:05:01What would Eric's take be on that?
00:05:04How should I know?
00:05:06He decided not to be here.
00:05:36He decided not to be here.
00:05:41He decided not to be here.
00:05:48Let me gather my thoughts for a second, sorry.
00:05:53Take your time.
00:05:55We don't have much.
00:05:59I felt like I'm in the room as a reptile.
00:06:02No, 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.
00:06:17Why shouldn't I?
00:06:19You already know.
00:06:20Why you didn't go or you would have gone?
00:06:23I'm an accessory.
00:06:25You're the face of the company.
00:06:26An accomplice?
00:06:28Fraud, embezzlement, market manipulation.
00:06:31Hire the cream of the legal crop.
00:06:32You're not escaping jail time, Henry.
00:06:38So, why write me that letter?
00:06:41Think of the optics if my CEO went AWOL now.
00:06:47Besides, we're close enough for honesty.
00:06:51Fuck yourself.
00:06:52Well, everything we have done since we partnered has been true.
00:06:57Why let them rob us of our glory for what was, at the time, necessary balance sheet imagination?
00:07:03Our share price will continue to recover.
00:07:06Tener 2.0 has successfully transitioned us into real revenue and phased out inflated third-party acquisition flows.
00:07:15Fake.
00:07:17Do you start using the fucking word?
00:07:19Fake.
00:07:21I watched Stern Tower's presentation, which part of it was wrong?
00:07:25Exactly.
00:07:26It's simply a misalignment between the velocity of my vision and the velocity of regulation, and that gap is where
00:07:31smart people have always made money.
00:07:34Henry, look at me.
00:07:37I have to buy time.
00:07:40Make a clean audit as protracted a process as possible.
00:07:44Delay and complicate until some of our, uh, over-represented cash flows can be swallowed by a much larger balance
00:07:51sheet.
00:07:51How?
00:07:53Targeted acquisition.
00:07:56Hostile takeover.
00:07:57Because it's as simple as saying that, right?
00:07:59How the fuck would that even work?
00:08:01A few months ago, when you said we should increase our stake in Pierpoint, I used Cayman and Luxembourg SPVs
00:08:10to build an undisclosed synthetic position to buy shares in Pierpoint.
00:08:17Al Mirage are spinning Pierpoint out.
00:08:20They've been looking for an exit practically ever since they bought the old bitch.
00:08:23Do you even know what you sound like?
00:08:25This is how it's going to play.
00:08:27We say, due to a transformational merger, any audit must reflect pro-forma consolidation.
00:08:37We need to hire more advisors.
00:08:39Since you unwisely fired my auditor of choice, we have to add intermediaries.
00:08:43Add complexity to the, uh, jurisdictional fog of who audits 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?
00:09:11Believe in us.
00:09:15One more time.
00:09:19Whitney, the board's convening in an hour.
00:09:29Well, I'm sure it hasn't gone unnoticed for the Secretary of State that there are whispers in the city that
00:09:35some of the tender prophets are as real as a stripper's affection.
00:09:39Well, I'm sure his colourful, roguish language will continue to play well for the Andrew Tate clones and Russian bots
00:09:45who like all his posts.
00:09:46This shouldn't descend into cheap point scoring.
00:09:48It is clearly in the public interest to understand what position tender is now in.
00:09:54And what risk it might now pose.
00:09:56Agreed.
00:09:57So let's ask the Secretary of State to just explain the nature of her interactions with tender senior management.
00:10:03Sebastian, as a former entrepreneur yourself, you well know that ministers routinely meet with a large number of business leaders,
00:10:10stakeholders and industry representatives.
00:10:12All such meetings are conducted in line with the ministerial code and they are properly recorded in transparency returns.
00:10:17People are saying that you and your department were in bed with tender senior management and expedited their licences and
00:10:23approvals in search of good headlines.
00:10:25Expedising licences? I mean, that is a serious allegation you're making against the minister personally there.
00:10:29Yes. Do you have proof?
00:10:31Is what you're saying is a deliberate inflammation of totally normal practice?
00:10:34So you are in bed with them?
00:10:35Look, I'm not in bed with anyone apart from my husband. Sorry.
00:10:38You're almost in a scoop there.
00:10:39Yeah. You have no proof.
00:10:42Look, I understand the mainstream media hasn't deemed this front page news yet, but people's lives and their hard-won
00:10:48finances, they don't play out in the business pages.
00:10:51These are real people. This is real money.
00:10:53These are not pieces on Whitehorse chessboard.
00:10:56Lisa 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, all you can do is
00:11:08hand him a mirror.
00:11:09Look, we've heard the spiel and we don't need to hear it again.
00:11:12Far more important is the question of how vulnerable this bank is.
00:11:15There are suggestions.
00:11:16Business secretary, you've seen them on social media.
00:11:20Alexander, are you in London?
00:11:26What's the blast radius of this fucking thing?
00:11:29How 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 Frankfurt 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, I'd advise a rethink.
00:11:48We don't know what we're dealing with yet.
00:11:50We 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.
00:11:56What's stopping us flushing this out?
00:11:58Calling our own audit.
00:11:59We can't mark our own homework.
00:12:02For fuck'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 name.
00:12:19Thanks for not throwing me to the wolves.
00:12:22I'd probably stand up for David Cameron against that.
00:12:25Toadie 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.
00:12:36Maybe 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.
00:12:48If this flares up anymore, they'll throw a body overboard before politics hour.
00:12:52And your answer to those questions is more damning than mine.
00:12:56I'm sorry.
00:13:06Yasmin, it's Jenny.
00:13:08Um, thanks for reaching out.
00:13:11Listen, 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 Maureen Le Pen like a Lib Dem counsellor.
00:13:23I still think I am going to need the help of Norton Catwood.
00:13:27I'm just...
00:13:29I'm trying to see how I'm going to 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, look, I'm here to help, so let me see what I can do.
00:13:44All right?
00:13:51Sounds like they're scrambling.
00:13:54Yeah.
00:13:55Look, 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 Halberstrum predates
00:14:07Man 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, leave 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.
00:14:59It hasn't improved.
00:15:02You know, I'm not saying that I'm blameless.
00:15:07I mean, there are high highs.
00:15:10But the lows are low.
00:15:14You know, he's unfaithful.
00:15:18I know he's an addict, but...
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 he's a cocaine user.
00:15:39And I know he's used heroin.
00:15:49Often.
00:15:57Often.
00:16:01Often.
00:16:07Good afternoon, everyone.
00:16:09We want to launch a stock-for-stock hostile takeover
00:16:12of PeerPoint 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,
00:16:20so we'll be trading at a premium to PeerPoint.
00:16:21I don't understand why we aren't privileging a new audit.
00:16:25We have nothing to hide.
00:16:26If there are no skeletons in the closet,
00:16:28why not open the closet?
00:16:30I imagine there is a time sensitivity issue.
00:16:33Also, a confidentiality issue
00:16:36around 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?
00:16:49Fuck's sake, Henry.
00:16:50Tell them how passionately you lobby me for this
00:16:53as a fearless leader and CEO.
00:16:57Al Mirage PeerPoint
00:16:59is already subject to audit supervision.
00:17:03We could consolidate post-acquisition
00:17:07and submit to a group-wide audit next year.
00:17:14This is an essential move for our longevity.
00:17:17We are 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 final acquisition approval.
00:17:31Correct.
00:17:32With this vote,
00:17:32authority is hereby delegated to CEO and CFO
00:17:35in concert with legal and compliance.
00:17:38Structure any transaction
00:17:39and return to the board with final terms.
00:17:42All against.
00:17:46I think it's high time
00:17:48the men leading this company
00:17:49stop sidestepping substantive questions.
00:17:52Cool.
00:17:53All in favor?
00:18:06Thank you, everyone.
00:18:08This resolution is adopted.
00:18:21Do you ever look out of that crotch?
00:18:23My only vice.
00:18:25Well, one of them.
00:18:27You ever see me without it,
00:18:28you can assume I'm dead.
00:18:32Yasmin suggested to me
00:18:36that you may have
00:18:39compromising recordings of us.
00:18:42Explicit 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.
00:18:59Then you're answering your own question.
00:19:10Yeah?
00:19:11Wilhelmina,
00:19:12we're on our way to see you.
00:19:13I'm warning you,
00:19:14I am getting a huge amount of blowback
00:19:16about the Tinder headlines.
00:19:17We prep for tomorrow's AGM.
00:19:19There's rumors of an Al-Murash term sheet
00:19:21floating around.
00:19:21Where it is you're being sold.
00:19:23Clean structure, lab.
00:19:24It's not an affable leverage ratio.
00:19:26That is not entirely inaccurate.
00:19:31Where are they pricing you at?
00:19:321.2 times book
00:19:34and a 90-day clawback window.
00:19:37You're not far off.
00:19:38The pricing is to go.
00:19:40Well, let's speed it along for you.
00:19:46Henry has something to say.
00:19:47Oh.
00:19:58Al-Murash 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, a process.
00:20:16Then give the floor to me.
00:20:17Well, how do you mean?
00:20:18At 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 Pierpoint stock
00:20:28under 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
00:20:33or, God forbid, talk about the undeclared sovereign wealth
00:20:36in your recap structure.
00:20:38What, it doesn't exist?
00:20:40Well, me saying it's almost as bad as it's existing.
00:20:43Or it could leak my counter-evaluation of the press
00:20:46or worse, say that, uh,
00:20:49Al-Murash is a distressed seller
00:20:51in no position to make a strategic exit.
00:20:54I'll tie cinder blocks at the Pierpoint price
00:20:56and 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.
00:21:11Al-Murash 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.
00:21:22Look for two smiles in the crowd.
00:21:26Making our final approach to Newark shortly.
00:21:37This would be so much easier if we could just go to Newark.
00:21:39Sorry about how we covered your old man.
00:21:42Ghastly stuff you went through.
00:21:44Don't worry.
00:21:44He was a bastard.
00:21:46Well, that was the angle that sold, yeah.
00:21:49Hi.
00:21:50I need to run and cry for Jen.
00:21:54Take a seat, Jenny.
00:21:57We know it almost feels 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 going to 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.
00:22:14And Lisa is already feathering her nest.
00:22:16Well, if you heard.
00:22:18You 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.
00:22:28Jenny, did you ever raise any red flags about Henda?
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.
00:22:44Pressure to help party leadership.
00:22:48But Lisa was always the cautious one.
00:22:50Yeah, see, I'd cut that.
00:22:52The messaging's pretty simple.
00:22:55You were a young, dissenting voice overruled by grim, old bureaucrats.
00:23:01Your 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 going to tell anyone.
00:23:19If that's true, why do you even need me?
00:23:21The solution's pretty fucking clear.
00:23:23If this goes from Paige, the 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?
00:23:43Anything.
00:23:44Memos, minutes, documents that can overstate the case for Lisa's proximity to Tender and communicate her passion for it to
00:23:52succeed at any cost.
00:23:55Lies.
00:23:57Lies.
00:23:58Points of emphasis.
00:24:12Journalism shouldn't be about myth-making for an aristocratic class.
00:24:19I-I can't.
00:24:22Lisa brought me into government.
00:24:24I wasn't even going to run.
00:24:26But 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?
00:24:33Exactly.
00:24:34No, no, no, but when it's laid out like this, so brazen, I-I-I can't do that to her.
00:24:39Look, this-this entire conversation is off the record, all right?
00:24:44All right?
00:24:44Naturally.
00:24:51We appreciate your...
00:24:54principles.
00:24:58Honestly, these women are hilarious.
00:25:01How do they think this ends?
00:25:02If Bevan's not going to play ball, we need to figure out another way to stick this on Derm.
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, a memo, pick it up and make it pop?
00:25:21Smart can say we're reporting public domain, let's risk a defamation claim.
00:25:26Ideally, it would be an investigative outlet out of an ear of credibility.
00:25:30By the time we publish, Westminster will be aflame with the early report and we can confirm
00:25:34it as a coup de grace.
00:25:36These amateurs want to test the media food chain.
00:25:39Maybe the front page of a red top can still turn a minor outlet's work into a fully-fledged
00:25:45fucking 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?
00:26:15Why is that impossible now?
00:26:17I'm actually a little more than surprised.
00:26:26So, this is the nerve center.
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.
00:26:55Coffee?
00:26:56Coffee?
00:26:58Thank you.
00:26:59Mm-hmm.
00:27:03So, um, I have it on good authority that Dern and Bevan have been in the Norton offices
00:27:10all morning, trying to save face and torch the other.
00:27:13Cover-up is on, huh?
00:27:15Yeah, the whole thing stinks.
00:27:17I can personally verify that government officials were far too close to tender management.
00:27:24I mean, the pressure.
00:27:25They wanted everything done yesterday.
00:27:27I remember Dern introducing Henry at Web Horizon.
00:27:30Wasn't Bevan at Henry's 40th, or am I misremembering-
00:27:33Yep.
00:27:34At Dan's request.
00:27:35But it goes far deeper than that.
00:27:37I mean, Dan was always in our offices.
00:27:39You know, the whole cabinet saw her as an anti-business trade union lover.
00:27:45She wanted to use tender as an antidote to that.
00:27:47A trophy.
00:27:49Well, maybe Diker 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 at a ministerial level.
00:28:21FCA, 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.
00:28:34Well, you'd bet a political firestorm would speed the end of the company.
00:28:40Your job to bet, not mine.
00:28:46Questions in parliament, public inquiry,
00:28:49independent audit of the government's interactions with the company.
00:28:53Maybe a government-mandated audit in tender.
00:28:58Don't fuck me around, Yaz.
00:29:00Come on.
00:29:01Be blunt.
00:29:02What are you asking me to do?
00:29:06I'm working on my own.
00:29:09Escape.
00:29:11I'm managing the timing of my resignation
00:29:13and also steering people to know
00:29:15that 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 going to tank itself.
00:29:42Help me help you.
00:29:49The Wake was a riot.
00:29:51A 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 personal financial angle at all.
00:30:07I, uh...
00:30:09I heard from someone that warnings were made and ignored about tender,
00:30:13that Labour's business department are now at war, passing the buck.
00:30:19Well, your, um...
00:30:20sweet pea-go-likely got quite close to bringing us an insider,
00:30:24or so she made it seem...
00:30:27you-you should probably all leave journalism to the journalists.
00:30:32Look, there's-there's talk of memos.
00:30:35A top-down culture of act now, questions later.
00:30:40Yasmin Muck, who ran their comms, repeatedly raised concerns, again, on deaf ears.
00:30:46Do you have access to these memos?
00:30:49No. No, I'm told they exist.
00:30:54What do you want me to do, then?
00:30:55Frame the article as a question.
00:30:58Don't name me.
00:30:59Call me an insider, a market source, whatever.
00:31:04No-one else has this.
00:31:06You can be cautious in your wording, but any question is provocation.
00:31:11The public's money is tied up in this.
00:31:16You know, your face does this amazing thing when your concerns become moral.
00:31:21Your eyes soften like you're trying to trick your physiognomy
00:31:25into telling yourself you actually care about this 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, build it out.
00:31:39That'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 is fucking grotesque.
00:31:55It's like the saddest fucking thing in the world.
00:31:59What's that?
00:32:02Unfulfilled potential.
00:32:04Unfulfilled potential.
00:32:06Wk.
00:32:11No, no, no.
00:32:48Not a fucking word.
00:32:56All right, all right, all right, okay.
00:33:14You've reached Albstrom.
00:33:15Leave a message.
00:33:29Oh, fuck.
00:33:34How's meticulous at every stage?
00:33:36I think you possibly know.
00:33:38You're that drop phone?
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 Wi-Fi.
00:33:53Fuck!
00:33:54Fuck!
00:33:55That airport is a surveillance choke point.
00:33:58The calls to your fixer and the subsequent ability to map the flow of cash exchange around the calls.
00:34:03First payment of $120,000 to Sunpath Living Residential Solutions?
00:34:10The Jihad City Supreme 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.
00:34:21Please, 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 he'd die to go with it?
00:34:37On the contrary.
00:34:39You stick around and face the consequences of your actions without implicating me.
00:34:45Us.
00:34:47Escape is a fantasy.
00:34:49You're only hearing this because they want you to.
00:34:51You no longer exist outside their tolerance.
00:35:00And the journalist, Diker, did you, uh, 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.
00:35:46Go.
00:35:48Off you, fuck.
00:36:09What did you argue for?
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 and 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, your introduction of Henry to Webberizon
00:37:11or 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?
00:37:19You know this is prefaced by a source's claim because it doesn't fucking exist.
00:37:24Your initials are on the provisional authorisation merger and the granting of Tender's UK banking licence that followed hard behind
00:37:32it.
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?
00:37:43Which regulators didn't you hit?
00:37:45How many red flags did you torch before those cowards could run them off a flagpole?
00:37:48Wow.
00:37:50Does sound enough make you feel better?
00:37:54Right.
00:37:56Quit 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 appointed principal.
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.
00:38:31To his point.
00:38:33You're always too romantic, Lisa.
00:38:37You mean secatruity.
00:38:40No, I don't.
00:38:57We remain well capitalized with a core tier one capital ratio of 10.8%.
00:39:04What's wrong with you?
00:39:04You look terrible.
00:39:05Not feeling myself.
00:39:07Now, as ever, I would like to close my remarks by saying that we at Unleashed Carepoint pride ourselves on
00:39:14our 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.
00:39:24Whitney, 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.
00:40:03Speak 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 it to be one for tender two.
00:40:22Thank you.
00:40:29I don't have a question.
00:40:39I have an offer.
00:40:45We don't see it as discretionary.
00:40:53It'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?
00:41:13It is a display of faith in what we believe this union to be.
00:41:20A marriage, balance sheets, regulatory infrastructure, trust.
00:41:28The 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 that door since jump from being too early, too fast, too big.
00:41:48Railroad to the Internet.
00:41:49History of industry in this country is pockmarked by a slew of disinformation from those who don't stand to benefit
00:41:57from radical thought or the displacement of worn-out structures.
00:42:01More bullshit.
00:42:04Mr. Habs, the offer must be heard.
00:42:07Please continue.
00:42:09Thank you.
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.
00:42:45We 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.
00:43:13Thank you.
00:43:15We want America.
00:43:22Alexander.
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.
00:43:40No.
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, Alexander.
00:44:18Yes, it is.
00:44:22We've done everything we can for him.
00:44:25You 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.
00:44:40Okay?
00:44:48Okay?
00:44:52Okay?
00:44:54Okay?
00:44:57Okay?
00:44:58Okay?
00:44:58Okay?
00:44:58Okay?
00:44:58Okay?
00:44:59Okay?
00:44:59Okay?
00:44:59Okay?
00:44:59Okay?
00:45:04Okay?
00:45:17¡Suscríbete al canal!
00:45:35It's 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.
00:46:11Mighty 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.
00:46:30Shit.
00:46:32What?
00:46:33They pushed the business secretary out.
00:46:35Darren's gone.
00:46:46I've got an email from Kevin Rule giving me the opportunity to respond to claims made before publication.
00:46:55They're running a story about Darren's involvement with us.
00:46:59It wasn't you.
00:47:01What the fuck are you on about?
00:47:03No, I need to, I need to, I need to call Yasmin.
00:47:08Kevin's fucked it this time, the bigger cunt.
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.
00:47:42I need to, I just need to get a hold of Yasmin's here.
00:47:45I'll call my, I'll call my uncle.
00:47:48I thought you hated your mother, so why is your mouth still attached to her fucking tit?
00:47:56What is this thing fucking work?
00:47:59Fuck.
00:48:07Okay, okay, okay.
00:48:11Minister, minister.
00:48:14Wow.
00:48:16These are delivered to your private office.
00:48:18Okay, um, who?
00:48:43Who the fuck are you?
00:48:45I'm tamping, I've been sat here.
00:48:47Yeah, okay, where's Whitney?
00:48:48I don't know.
00:48:49You mean he hasn't been back here since we left?
00:48:51He's been in and out.
00:48:52Okay, well, okay, I go home.
00:48:54No, Yasmin, I come here.
00:48:56She 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.
00:49:13I 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 gave
00:49:28me a little leverage for the final negotiations.
00:49:31Uh, okay, yeah, um, have you spoken to Whitney at all?
00:49:36I haven't.
00:49:37Although, I, I hope you realize his yarn about buying multiple positions at Pierpoint was a bluff.
00:49:44I call to supposed intermediaries.
00:49:47There's no term sheets, no interbank confirmation, no capital, there's no record at all, nothing.
00:49:52Snake oil and sermon sound similar, don't they?
00:49:55We will all be monitoring the tender fallout closely.
00:49:59If 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.
00:50:10Um, good luck.
00:51:02And we will be pursuing full recovery so that our institution doesn't suffer.
00:51:04Hi.
00:51:05Jenny, I'm just checking how you're feeling after how everything landed for you today.
00:51:11Did 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.
00:51:21I mean, the sentences carry about as much weight as a tender press release, if I'm honest.
00:51:27Listen, it's lit, you see yesterday's news.
00:51:29Well, I mean, it's tomorrow's news, obviously.
00:51:34But good luck with your television appearance.
00:51:37It's a really great boat of confidence that the PM wants you to be the base 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, why 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.
00:52:06You have no fucking right.
00:52:09You 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,
00:52:15and I increasingly wonder if that's because I've only ever acted 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.
00:52:51You 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!
00:53:05You're a fucking bitch!
00:53:07Don't move to a stranger
00:53:10You know in the end
00:53:15I'll always be there
00:53:20Yes, yeah, thank-thank you so much for letting me know. Speak soon.
00:53:27That 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.
00:53:35Yeah, uh, 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 percent.
00:53:51No 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.
00:54:02Show me dollars.
00:54:09Good.
00:54:10Yeah, we're all speaking the same fucking language.
00:54:13Hey, what's up?
00:54:19Ah!
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.
00:54:55It's true, it is.
00:54:59It is.
00:55:00Yeah.
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?
00:55:15It's lack and need.
00:55:26I'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.
00:55:35You 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...
00:55:57and 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.
00:56:35Well, like, where does that come from?
00:56:36Like, the need for control or desire to dominate.
00:56:43Is it so you can say,
00:56:48I don't know, you were never at anyone's mercy?
00:56:54I don't know.
00:57:03I guess, I guess I kind of grew up at someone's mercy.
00:57:08I don't know.
00:57:26I'm sorry.
00:57:37Do you want to go out?
00:57:41I mean, like, just blow things away a bit, you know?
00:57:48Do all the things that Lord sings about.
00:57:50The Lord sings about being 17.
00:57:52Exactly.
00:57:55God, I wish I was still 17.
00:57:57Girl.
00:57:59It was so easy to get people to do things for you.
00:58:09You promised me something.
00:58:14Will you eat a cop to me tonight?
00:58:16When the fuck are you going to look after me?
00:58:21Tonight.
00:58:22Bye.
00:58:25Bye.
00:58:34Bye.
00:58:37Bye.
00:58:38Bye.
00:58:40Bye.
00:58:40Bye.
00:58:40Bye.
00:58:40Bye.
00:58:43Bye.
00:58:45Bye.
00:59:20Gracias por ver el video.
00:59:22Gracias por ver el video.
01:00:20Gracias por ver el video.
01:00:50Gracias por ver el video.
01:00:54Gracias por ver el video.
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