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مسلسل Billions مترجم - Episode 2
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00:08previously on billions when did it become a crime to succeed in this country everyone has access to
00:13the information we just know how to analyze it better suspect trading pattern on pepsom
00:18pharmaceuticals they had inside information you must get things like that every day it's
00:22bigger than that all three firms have links to bobby axelrod this would be a big one but a good
00:26matador doesn't try to kill a fresh bull you wait until he's been stuck a few times why aren't you
00:33prosecuting the investment banks and hedge funds for insider trading go ask the 81 convicted felons
00:38of financial crimes currently serving time but you have a very specific conflict of interest right in
00:42your own home your value to the firm is absolute i've been working there since before we were
00:47married and long before you were in office i work for the public good no you work for the good
00:52of
00:52chuck rhodes maybe sometimes they intersect you know that norton place out of the beach i just heard
00:56bobby axelrod is trying to buy it how much 83 million people hate guys who buy things like that
01:02you said there was only one thing you were afraid of guys in windbreakers walking in your office saying
01:06step away from the computer and you told me you'd make sure it wouldn't happen so let me make sure
01:11steven birch it's either him or you beat my capital yeah that swap deal he did on arcadian railroad
01:17you do an autopsy on the deal you'll find yourself a pulitzer in the carcass
01:23front fucking page of the post it's like you're staring there's movement it's likely they've opened
01:30a case file on you you know what i'm ready
01:53no pete the gold standard is never coming back and if it did this world would be so fucked i'd
01:58buy space travel not gold nice pitch that
02:01if i'd have known it was a gold play i'd have never put him through always put that lunatic through
02:05one out of every 200 ideas he has is fucking brilliant
02:09i got this
02:14bad idea no man is a hero to his valet
02:18that goes double for his coo so you are fucked with me either way
02:22let's take a car to the city instead of flying
02:24what's underneath this look if the u.s attorney is really coming maybe it's better if we don't make you
02:31more of a target
02:32and more important garth sykes from blackjack
02:35hated seeing you on the cover of the post that goddamn oceanfront mansion
02:40teachers in their pension fund make 40 grand a year
02:42people have it spend it
02:43people who don't have it like billy's better who spend on other folks
02:46charity good works
02:47i do i have and you know it
02:49today they only remember the battles
02:51i have a feeling there'll be another one of us on the front pages soon enough and they'll forget about
02:55that
02:56but if flagship does try and withdraw
02:58we can't run it
02:59if flagship pulls its 1.5 billion it gets public
03:02other institutions go too
03:05whole thing could domino get with sykes keep him on board
03:08which is why i'm telling you to keep it a little more low-key
03:10who's more low-key than me
03:12not that it's wrong that it needs riding
03:20just all alone i've been hide
03:24hiding
03:35so
03:36the key to bagging axe is
03:41pete decker
03:41how
03:42his fund has to be
03:43we start with decker since he had the longest tenure at axe capital of anyone who left with axes backing
03:48now give me some more of those cold sesame noodles would you
03:51you know these are don-don noodles
03:52same fucking thing
03:55no no one's sichuan the other taiwanese it's the whole thing
03:58you know this is why i don't mind the hours i'm always learning something on the job it's incredible
04:02yeah tell him about general so's brad
04:04oh no he flings the shit at you too
04:06sprays it all around
04:07the only place you've ever been is asia you can't help yourself
04:11here
04:11indictments on that ponzi thing
04:13tell me about the general brian come on
04:15well now you've done it
04:18no general so he was a statesman in the ching dynasty suppressed a revolution
04:23oh and now he has the true glory a fried chicken dish named from the world over
04:27that was created in america maybe after we nail axe they'll reciprocate name a dish after you in china
04:33no
04:33oh general chucks
04:35really what would the what would that look like a burger with the cheese cooked on the inside
04:39you really think i could ever be that richly honored
04:42hey i will make it so
04:44not if we're still stuck
04:45we need to find a way to get pete decker on the hook right
04:49you know decker hires young
04:52and he pays at the top of the range
04:53now once these guys get a taste for that kind of money they get desperate to keep it going
04:57start tracking all of his analysts and traders
04:59next one makes a mistake we're right there
05:10nice move
05:12just like smoking in the girls bathroom at saint mary's you had to be quick or you'd be over a
05:16nun's knee
05:18that's a fun picture to have in my head
05:19mmm yeah they weren't that kind of nun they look like dick cheney
05:24look at that
05:26that is such a shitty name on such a great building
05:30oh don't don't focus on that
05:33think of all the good that's going on here tonight
05:36camp it mars everything
05:38the name up there should mean something
05:40should add add to the luster of the place
05:43just don't look
05:44i like the building
05:47how much?
05:52good question
05:56we're about to pass the hat
05:58get rid of this for us will we do?
06:02shhh
06:03shhh
06:04shhh
06:04shhh
06:05shhh
06:07shhh
06:07shhh
06:08shhh
06:08shhh
06:10shhh
06:18shhh
06:21shhh
06:30shhh
06:32shhh
06:35shhh
06:38shhh
06:46shhh
06:47Ah, I hit the spot.
06:51Oh, fuck.
06:58No, it's work.
07:00That's my work ring.
07:04It's Kornbluth.
07:05Thought you left white-collar crime to cover the election.
07:08That's true, but I stumbled onto one too good to give someone else.
07:11Get to it.
07:13What do you know about Stephen Birch and Arcadian Railroad?
07:16What?
07:17What do you have?
07:18Birch made a big play in the railroad.
07:20Captured 43% before good numbers and expansion plans were announced with inside information.
07:25We want to know where the U.S. attorney for the Southern District stands on an investigation.
07:29I'm posting this on the web in five minutes.
07:31It's already on the desk.
07:32It'd be better with a comment from you, but I can't wait.
07:36It's late.
07:37That might not be enough time to get a comment.
07:39I'm posting it.
07:39We can't get beat on the story.
07:41You can't run it without a motherfucking quote.
08:11Oh, God.
08:13Over at FBI up on this, too.
08:15Now.
08:15What?
08:19I'm not tolling any bells for you, Bobby.
08:21Sounds a bit like you want.
08:23There's a reason you retain my firm.
08:25Ah, fuck the firm.
08:26Bunch of rich, young lawyers.
08:27There's a reason you retain me.
08:29Me.
08:31And that is, I look far enough down the road to let you avoid the speed traps.
08:35Okay.
08:37What do you see?
08:38U.S. attorney needs to bag you.
08:41Roads could bring it quick or take two years.
08:44And it becomes a three-front war.
08:46PR, redemptions, and the government.
08:48It's not too early to start a makeover of the firm's culture.
08:52What fucking culture?
08:53Big returns that beat the street by double digits year in, year out, making our investors rich?
08:56That culture?
08:57No.
08:57The rep.
08:58Smart money.
08:59Maybe a little too smart.
09:02If they bring in action, the whole strategy becomes about leveraging a settlement.
09:05A deferred prosecution agreement and forfeiture that lets you keep working.
09:09And the best way to get that is to act like you'd never settle.
09:12I'd never settle.
09:14That's the public posture, for sure.
09:17I'd never settle.
09:19Yeah.
09:20That's a good delivery.
09:21That'll work.
09:23I'm gonna go find my table.
09:26How you doing?
09:27My name's Penn Jillette, Penn & Teller.
09:30We're gonna give as much money as we can.
09:33I will hurt myself, then you will hurt yourself with money.
09:37You're gonna look like this.
09:47Think about how much that hurts, and think about how good you would feel if you gave a million dollars.
09:53Who's giving a million dollars?
09:54Stand up.
09:55Come on, a million dollars!
09:56Starting at a stick.
09:58Fuck it.
10:00One million dollars!
10:01I do it, I do it, I do it, I do it, I do it, I do it, I do
10:03it, I do it, I do it, I do it, I do it, I do it.
10:22I don't think I'm not paying you enough.
10:34How about 250 over here?
10:37Holy shit.
10:39Financial journey was placed at Birch.
10:45100 grand standard.
11:03He's going to want that million back.
11:11Everybody's looking standing up.
11:25Hey, you need a minute before we...
11:27For what?
11:28Pump-up sesh for the morning meeting.
11:30Like every week.
11:31Not happening.
11:33Oh, what the fuck?
11:34Wind, I count on it.
11:36It's how I get in there and deal with those animals.
11:38Canceled until further notice.
11:39You don't need it.
11:40Not anymore.
11:42You're the best PM on the floor.
11:44You know it.
11:46They're fucking sure of it.
11:47Those animals are used to you putting them down now.
11:49Hardly even whimper as it happens.
11:51Our sesh, while fun, is a waste of your time.
11:54And mine.
11:55Go get them.
11:58Makin' A.
12:03You just did it, didn't you?
12:10All right.
12:11Three feet apart, all right?
12:12Tres, all right?
12:14And mucha agua en la mañana.
12:16Can you tell him no food and lots of water in the morning?
12:19He knows.
12:20Does he?
12:20Yeah, because I don't feel like I'm getting much back from him.
12:23I know you get it.
12:24You know, Lou wants to do zucchini flowers on special now that the frost is gone.
12:27So let's be ready when they come in.
12:29You got it, boss.
12:30All right, ladies and gentlemen.
12:31We are up 32% year to date.
12:33And we are open to all money-making ideas.
12:36Longs, shorts, sells, covers.
12:39All alpha welcome.
12:40The choppy waters out there are perfect.
12:42For us.
12:43For the average investor, hell no.
12:46But never forget, what's bad for him is good for us.
12:50If, if we're as smart as we think we are.
12:54If not, the heat will melt us like an almond joy in the sun.
12:59So, are you smart enough?
13:01Some of us fucking are.
13:04How about you, Pouch?
13:07How am I supposed to answer that?
13:09You already have.
13:10Sadly.
13:12What happened on Eureka Tranship?
13:14You knew they were going to whiff their numbers.
13:16Why didn't you bang the short harder?
13:17You left five fucking percent on the table.
13:18I thought they were going to whiff.
13:20But I didn't know.
13:22You're such a pussy on the short side.
13:24Go home and get your fucking shine box.
13:27Salted him a little bit.
13:28Yeah, a little bit.
13:29Axie saw my position.
13:30You could have upped him.
13:31That's what I'm paying you for.
13:33You see an opportunity like that again.
13:35You grab it like it's a horse cock and you're Catherine the Great.
13:38No, babe.
13:38Okay, okay.
13:41Saldana, why are we still tied up in those hospitals?
13:44Baby boomers.
13:45They're getting old, so they're getting sick.
13:47When the group reports patient volumes, it's going to overshoot street expectations.
13:51We're talking 10% move.
13:53That incremental revenue will drop right to the bottom line and the stock's going to pop like a prom queen's
13:57cherry.
13:59Good fucking answer.
14:00It really is.
14:01God damn it.
14:02Okay, new idea time.
14:06Donnie Kahn.
14:07What do you have for us?
14:09I think Apple still has room to move north.
14:13Really?
14:15Our investors pay us a 3% management fee and 30% of their profits?
14:20And you want me to tell them we're buying some fucking Apple?
14:24Sorry, Axie.
14:25I guess I'm just not seeing the Matrix right now.
14:29It's a little unsettling, Donnie.
14:31Since seeing the Matrix is your entire fucking job.
14:33It's kind of like if you were a hurdler and instead of jumping over the fucking hurdles,
14:37It's okay, Donnie.
14:38You'll see it again.
14:40Hang in.
14:42Okay, guys.
14:43Let's go out there and bring some meat back to camp.
14:45Or some nuts.
14:47Hunt or gather.
14:51Sorry, I tried to give you the heads up.
14:57Phone's down.
14:59We're SEC compliance.
15:01I need all portfolio managers and analysts to return to their desks.
15:05Traders, stay here.
15:07Case officers will meet each pod and expect full cooperation.
15:15Better answer their questions.
15:17Cooperate.
15:19This group of energy trades, I'd like you to supply the research behind them.
15:23I was tasked, so I supplied it.
15:25Right, but going through your reports, I see gaps.
15:27Like this boardwalk pipeline move.
15:29What supported it?
15:30It was an event-driven strategy.
15:35Okay, it was based on an unsolicited tip.
15:37The trade was near 100,000 shares.
15:39Close to a two and a half million dollar position.
15:42Based on a rumor.
15:44It seemed...
15:45solid.
15:47Looking at telecom, this Verizon trade?
15:50It's part of an event-driven macro play.
15:53Bullshit.
15:55All right, I got a tip.
15:57And the pharmaceutical trades?
15:58That was phone a tip.
16:00Incoming tip.
16:01What am I, a fucking schmuck?
16:02Of course I'm gonna listen.
16:04That was a prom night promise.
16:06And that means?
16:08Just the tip.
16:10So, this is your entire book in trading history for the past three months?
16:14That's right.
16:15Wow.
16:16Bit of a rough patch, huh?
16:18Seriously?
16:20Gonna need to see your trades for the past 90 days.
16:22Unless you got a Wells notice with my name on it, you're not gonna see jack shit.
16:26Come on, we can pull it all down from the server anyway, so you may as well cooperate.
16:29Oh, great point.
16:31Lawyer.
16:32Your boss said you should cooperate.
16:33Oh, lawyer.
16:36Just answer the question.
16:38You answer me one.
16:39How much do you make?
16:44I'm gonna need access to your files, paper, and computer.
16:47For what?
16:48I'm authorized to check that all trades comply with...
16:50I'm not a trader.
16:50Whatever you call yourself after I...
16:53My files are confidential.
16:55You're not seeing them.
16:56You can call the attorney general if you want and tell her.
16:59I say hi if you do.
17:00We had dinner last month.
17:01Otherwise, fuck off.
17:13Enough.
17:15Enough.
17:15Okay.
17:15Enough.
17:18I hope you enjoyed the lifeboat drill this morning.
17:21Are you kidding me?
17:22We did not do well.
17:24In fact, we sank.
17:25If it were a real SEC raid, we would have been fucked.
17:29Get the fuck out of here.
17:31I shit my pants for nothing?
17:32I didn't do this for my amusement.
17:34What happened to Stephen Birch?
17:36Who I am sure will be cleared of any wrongdoing.
17:39It could happen to us.
17:40So, we need to be prepared.
17:43To that end, say hello to our new and improved compliance department.
17:47These assholes work here now?
17:49That they do.
17:50They're here for our support and our protection.
17:54And you will not even be taking a piss without them close enough to give it a shake.
17:58From here on, we evaluate every move.
18:02Not just for the upside, but for its ethical grounding.
18:04We have to be more pure than the Virgin Mary before her first period.
18:08Fuck, wax.
18:10How the hell are we supposed to make any money?
18:13You think this is a joke, Victor?
18:17You, in particular, were flagged.
18:19Flagged?
18:20You're short on that chipmaker.
18:24Leave the peripherals.
18:26And then a 38% fresh blubber on that seal hunt.
18:29Rotten carcass.
18:30Over the line.
18:32We're lucky the SEC hasn't come calling already.
18:35You're done.
18:37Fired.
18:39Clear out.
18:41Leave your key cards.
18:50This is bullshit.
18:52I didn't do anything out of bounds, no more than anyone else.
18:54Did I sign off on that trade?
18:56No, I did not.
18:57Don't say anything else.
18:59I trusted you with my name and my capital, and you fucked me.
19:04You put us all at risk with your deceitful, illegal moves.
19:08Now get out of here.
19:18All right, everybody, back at it.
19:21Play hard.
19:21Play clean.
19:23Be careful out there.
19:26It was a hell of a public spanking.
19:28Make sure our investors know about it.
19:29I want to.
19:30I want to make sure Garth Sykes here is about at ASAP.
19:33You're going to be a god on the street by lunchtime.
19:35I thought I already went.
19:36Greater god.
19:39Don't you fucking touch me.
19:42Put my cell phone.
19:59I was going to tell you about the compliance gag, but you didn't show up at the charity dinner,
20:03and then...
20:04Then I was half a hallway from your office.
20:07Try again.
20:09Honest?
20:10It was an oversight.
20:11No, it wasn't.
20:12You don't make them.
20:13And that matters.
20:14But what matters more right now is that Victor is exactly the wrong person to fire that way.
20:19That was spur of the moment.
20:20It was a spur of the moment fuck-up.
20:23His entire psychological makeup sets him up to react very poorly to public humiliation.
20:29The same things that made him a profit center for you will make him a difficult adversary if he's not
20:34handled right.
20:34He will stew and obsess and find a way to exact revenge on you.
20:39Okay.
20:40I can see that.
20:41Will you fix it?
20:45Go do it, please.
20:48I made a mistake not looping you in.
20:50I admit that.
20:51Mistake.
20:53Last chance.
20:56Okay.
20:57It was a red team drill.
20:58I wanted everybody to react as they would naturally.
21:04I left you out on purpose.
21:09And I will make it up to you.
21:10Please deal with Victor.
21:19Sean Ailes, please.
21:20It's Lara Axelrod.
21:23Sean, hi.
21:24This is the call you've been waiting for.
21:26I wanted to talk to you about making a donation.
21:29I figured you would.
21:32And about naming rights.
21:34And so the names on these buildings become more than just identifiers.
21:40They become signifiers of a grander age when titans of industry understood that the purpose of their wealth
21:47was to support the performative arts to improve the quality of life for all those who live in and visit
21:54this city.
21:56Now give me the Gettysburg address.
21:59I'm sorry, that sounded rehearsed.
22:03I'm vamping.
22:06I'm in a difficult spot.
22:07Oh, yeah, I know.
22:09Because what you need to tell me is that the Eats family owns the naming rights to this building in
22:14perpetuity.
22:16But I'm here offering you $100 million.
22:18Which you need to extract somehow without giving me what I want.
22:24I'm in a difficult spot.
22:26No, yeah, I know.
22:28Also, performative does not mean performance.
22:33Most donors like an heir of their...
22:35I don't.
22:38There are other naming opportunities on the ground that would give you the status and sense of permanence that you
22:43need.
22:43Why is this building so important to you?
22:47Here's why it's important to you.
22:50It's the only way you are getting even a dollar out of me.
22:53Now, I happen to have discovered that the remaining members of the Eats family are in a financial pinch.
22:58They need to raise cash.
23:00And they will have a hard time getting ahold of the kind of loan they need to pay off their
23:03other loans.
23:05So I want you to tell them that I will pay them $25 million to allow me to replace their
23:11family name with mine.
23:14Then I will donate $100 million, and you can begin your renovations.
23:25Oh.
23:28There is one condition I'll need you to sign off on.
23:38Don't scream.
23:40Look there.
23:44What the fuck?
23:46Get out.
23:47I'm calling the police.
23:49You don't want to do that, Tara.
23:51Who the fuck are you?
23:53Your newest and bestest.
23:55You should stay and listen to me
23:57Or else this goes viral
24:00You're making me weak
24:02You're making me weak
24:06We have training against this
24:08You think you're going to fucking blackmail me?
24:11So what? I fuck girls, guys, who cares?
24:14Everyone fucks
24:14That thing has no chance to compromise me
24:18Hope it at least gets you off, man
24:21What gets me off would disturb you
24:24At such a deep level, honey
24:26You'd be best served never to think about it again
24:33Folks in your line care about that kind of thing, though
24:37And this
24:39Your hair
24:41Which will test positive for cocaine
24:44Can be in Chuck Rhodes' hands within an hour
24:48You're going to watch, listen, and report
24:52And everything's going to be fine
24:57It's a lot to take in
25:01You've already got through all of this crap
25:03I heard back from my sources
25:06There's a war room set up at Birch's
25:08Lawyers, accountants, the whole thing
25:10Guys at his shop are prepping their resumes
25:12Well, if it was just smoke, they'd issue a denial
25:15Keep working
25:16Yeah, they're treating this article like it's a warrant
25:18Somebody wanted to hurt Birch
25:20And they wanted us on the ass end
25:22So they leaked it
25:24And I do not like it
25:26We need the reins back in our hands
25:28Understood
25:29You want me to stay on this Axe Deckard thing?
25:31No
25:32Set that aside
25:34Until we know at least as much as this fucking reporter knows
25:36Let's keep the brights on Stephen Birch
25:39Get me every article Randy Kornbluth wrote in the past year
25:44All of Mike DeMonda's articles, too
25:46We'll start there
26:00Mike
26:07Good parlor trick knowing my address
26:10That'll look like a fun intimidation tactic when I write this up
26:13Oh, you're not writing this up
26:15Because that would be a small win
26:17And you're not in it for small wins
26:19Oh, you've come too far, too young an age for that
26:21I'm in it because people deserve to know the truth about power and money
26:24Well, wait a minute, what are you?
26:26Glenn Greenwald, all of a sudden?
26:27Come on
26:30You know, I've, uh, I've been reading
26:34Randy Kornbluth lately
26:35He usually covers state politics
26:38He hasn't had a hard business story in 18 months
26:41But all of a sudden he hooks into a full-blown crime story
26:44And Stephen Birch
26:47His article quotes
26:48Former federal prosecutor James Robbins
26:51Who says that the connection between hedge funds and company officials
26:55Must be probed
26:58You know who else likes quoting James Robbins?
27:01You
27:02Seven times in the past six months
27:05He's a widely respected source with connections
27:07It's a fucking rent-a-quote
27:09I know you really wrote the Birch story
27:12And I think I know why you chose to hide that fact
27:16If I am such a careerist, why would I ever hide something that good?
27:20Because you thought it would endear you to someone
27:24What you should have done
27:25If you were really playing an elevated game
27:27Was come to me with what you had
27:30See, if I had something better to give you in exchange for you holding on to it
27:33You have never been willing to play any kind of game with me
27:36I didn't know you were ready to play in the bigs, man
27:38Now I do
27:40So, these are the rules
27:41You tell me
27:42Who fed you that stuff?
27:43No
27:44I'm gonna head inside
27:46Because this conversation has peaked
27:49And you don't get to tell me the rules
27:52You're correct
27:53I'm not gonna write up this ambush
27:56But I can
27:57Anytime I want to
28:00So, think about that the next time you try and bar me from a press conference
28:03Or dodge my call
28:06Have a good night
28:20All right, thank you
28:27Uh, you know what?
28:30Use the 20 for whatever the guy in the blue shirt back there wants
28:33I got you
28:33Thank you
28:35Okay, guys, let's go
28:36Come on
28:36Now, you guys remember when we threw a grandpa surprise party for his birthday
28:40And we all had to keep the secret
28:41Yeah
28:42Okay
28:43Why do we have to keep the secret?
28:44To make grandpa happy
28:46Right, so this is like that, okay?
28:48We don't tell anyone about the donuts
28:49To make mommy happy, okay?
28:53Roach!
28:55Don't you walk away before you meet my kids?
28:58Mr. Kroll
28:58We are in a public place
29:01With, uh, as you say
29:02Our children
29:04Uh, why don't you guys go sit on the bench over there, okay?
29:06Take your sister over there
29:09I don't need your, um
29:11What, kindness?
29:12Now?
29:13Now? I needed it at sentencing
29:18This is Margo
29:20And Stevie
29:22Hello
29:24I kept him out of school today so we could be together
29:25Because I go to prison tomorrow
29:29How do you live with yourself?
29:31How?
29:32Yeah
29:34I think long and hard before any prosecution in my office goes forward
29:39And I'm proudest of the cases I choose not to prosecute
29:43But when I go forward
29:45It's full guns
29:46I made one goddamn mistake
29:48And who got hurt?
29:51No one
29:52You could have let it go
29:53You committed mail fraud
29:54And you knew that my wife had died
29:57Suddenly
29:59And that I was desperate and lost
30:02You read the articles
30:03You got letters from a hundred people who vouched for the man that I was and would be again
30:08I'm what those kids have left
30:11And they won't have me again for four years
30:16Have a nice stroll with yours
30:18And take your fucking twenty dollars
30:19Or just leave it here for the birds to pick at
30:25Let's go, guys
30:26Daddy's done with this asshole
30:33Wanted to see me?
30:35Hey
30:38I want to give you a short that you're not going to bail on too quick
30:42Do you know Crossco?
30:43Crossco Trucking, I've been tracking it
30:45Mid-sized firm, has a big distribution contract with that bakery company, Yumtime
30:49Been holding fifty
30:52Fundamentals are solid
30:53I don't see the short play
30:55I don't need you to see it
30:56I need you to do it
30:58I'll get fifty on the tape
30:59We'll size up later
31:02You got a fucking problem with this?
31:05No
31:13You plugged that investor leakage?
31:15I thought I'd done exactly that
31:17But I haven't been able to get Garth Sykes on the phone
31:20He bails, it hurts us
31:22Yeah, I tried
31:24But I think I need you to show face with this guy
31:26You got this
31:27That's why I have you
31:32That fucker thinks that if you come running over here I'm going to forget he fired me in front of
31:36everyone I know
31:37Who knows what he thinks
31:39One minute you're his most trusted advisor, the next you're on the outside
31:43I'm here because
31:45I think you might make it worse for yourself and I don't want to see that
31:47The money I made him
31:50He treated me like a lowlife
31:52And that's a trigger for you
31:53Everyone laughing at me growing up
31:56The dyslexia
31:57Even the teachers
31:58I sent every one of those pricks a photo of my first million dollar bonus check
32:02That made you feel really good for about 24 hours
32:05And then you hated yourself for letting them know they ever got to you
32:09Kind of
32:11Sometimes
32:12This is different
32:14I know plenty about how Axe Capital works
32:16The dirty edge
32:18The proprietary trading techniques
32:20I know how the secret sauce is made
32:22Yeah
32:22I'm sure you could put out a Shots miscellany about the place
32:25Shots?
32:26It's like a farmer's almanac for non-farm stuff
32:29Yeah
32:30Could put out a couple of volumes of Shots miscellany about the place
32:34You just need to ask yourself one question first
32:36Are you rich enough to never get another job?
32:42I didn't work for that man
32:45Bribed the oil company CFO for him
32:46Stop talking
32:48We're not in session
32:49That's not privileged
32:49Point is
32:51I got all muddied up for him
32:53Hard not to rub it on his clean white shirt now
33:00You remember Warren Jaffin, the analyst?
33:03Yeah
33:04Bright guy
33:06Okay, we're sharp
33:08Employable
33:09Real sharp, yeah
33:10Then he balked at his bonus one year and got popped
33:12He got another job
33:14Right away at a huge bank
33:15Three million a year guaranteed
33:17Only word got back to Axe
33:19That Warren had bad-mouthed him in the interview
33:20Said Axe wasn't generous with him
33:24So Axe called the head of the bank
33:26Asked him to pull the offer
33:27That day, which the guy did
33:31Can you imagine
33:34How humiliating that was for Warren?
33:36Probably told his whole family
33:37All his friends that he was back
33:39But Axe didn't leave it there
33:41He called the president or chairman
33:43Of every prime broker, bank, and fund in the industry
33:45And had him blackballed
33:47Put it out over the loudspeaker
33:49Direct from the principal's office
33:50If you hire Warren Jaffin, you are my enemy
33:55Do you know what Warren does now?
34:00He's got a blog
34:04You built a real life for yourself, Victor
34:07A long way from Queens
34:10If Axe is certain you'll act like a gentleman
34:12He will make sure to take care of you
34:16You were the one that always told me
34:17To stand up for myself
34:19When you could win, yes
34:22The only way you can win now
34:23Is by letting it go
34:31You know, I have to confess to something
34:35Okay
34:36You're not gonna like it
34:37Fire away
34:39I took the kids for donuts
34:42I know
34:44Kevin told me
34:47Good
34:47Oh
34:49You're glad he cracked?
34:50No, I never want them to keep secrets from you
34:53I'm gonna keep them from me their entire teenage years
34:56They should at least know
34:57That they can always confide in you
35:00You're among your many gifts
35:02That is a great one
35:04Everyone feels like you're always on their side
35:08Well, I try to be
35:09Or at least
35:11Understand where they're coming from
35:12It's a wonderful part of your job
35:14You get to employ your empathy
35:18I have to be a real prick sometimes
35:20You know
35:22At work
35:24Yeah
35:26Sometimes we all do things we're not proud of
35:28At work
35:29Yeah, this is different
35:32When I was in the park with the kids
35:34There was this guy
35:36Who
35:38Specifics don't matter
35:41What it does is
35:42That every once in a while
35:44There's this thing we say
35:46I am never so proud
35:48As when I choose
35:49Not to prosecute a case
35:51And that's true
35:53In theory
35:55But once in a while
35:56I wish that I could just be
35:58More
36:01Human
36:05But I haven't figured out
36:07How to do that
36:07And my job
36:08At the same time
36:10You know
36:12Being 100% good at your job
36:17And 100% good
36:22If you figure that one out
36:23Let's both quit
36:24And write that book
36:36It's a luxury to relax
36:38Every once in a while
36:39Isn't it good?
36:40I remember this place fondly
36:42Look
36:42The stability of this firm
36:44Has never been in question
36:46I need to look into Axelrod's eyes
36:48Hear him say it
36:50Yeah, he will
36:51I just wanted to hear you first
36:53I may be from Kentucky
36:54But I'm no rube
36:55I don't bet on long shots
36:56When it comes to investing
36:57The pensions of my members
36:59That's why they trust me
37:01With their $5 billion
37:02And I get nervous
37:03I see someone like Axelrod
37:05Running around
37:05Spending his money
37:06Like he's a goddamn rap singer
37:09MC
37:10Like a rap MC
37:11No, some of them sing now
37:12My kids showed me
37:14Snoop and Kid Rock
37:15Moe's
37:16You're right
37:17You are no rube
37:20But Bobby Axelrod
37:21Isn't either
37:22We've crushed the S&P
37:24Seven years running
37:25Which means you
37:26Have crushed the S&P
37:28You turn over now
37:32Everyone beats it
37:33Until they don't
37:35When can I see Axe
37:36Talk to him about it
37:38You don't want to rush off now
37:39Do you?
37:40Ah
37:47Here's McHugh
37:48She got some stuff on Birch
37:49You are gonna love my nuts
37:52Pierre Bernard
37:53Longtime CFO of the Arcadian
37:55Gets passed over for CEO
37:57Gets censured internally
37:58For certain financial improprieties
38:02Press clippings I thought you might want
38:03And Bernard interviews for a job with Birch shortly before the trades
38:07We have secretaries on both sides confirming the meet
38:10Birch's trades on Arcadian occur a half hour afterward
38:13We alerted our counterparts up north
38:15The railroad has fired Bernard
38:17The Canadians are considering prosecution
38:19He's ready to make a statement implicating Birch
38:21And Quantico
38:22They call the case this straightforward
38:23Nobody cares
38:24Of course not
38:25Why would they?
38:26Rookies always bring up Quantico
38:29I
38:30Do you need something else?
38:32Let me know if you need PDF backups
38:34Of those
38:35Will do
38:36He is right though
38:37This Birch thing's a dunker
38:41Dominique all day
38:46Wilkins
39:00So
39:01Tomorrow morning
39:02When the arrest warrant is issued
39:03Along with the search warrant
39:04We meet
39:05Near Birch's phone
39:06Alright
39:07You guys take him
39:08We take his records
39:09Quick question
39:10Alan
39:10Are we gonna handcuff him?
39:12Yeah
39:12Obviously
39:13And what about the SEC?
39:15Should we alert them?
39:16We already have
39:17Press?
39:18Probably
39:19Right
39:19I mean
39:20Those news cameras just have
39:21A way of showing up at the right time
39:23Don't we?
39:25So we're gonna hit him full on, right?
39:26Yeah
39:27We'll get local law enforcement
39:28There on the perimeter
39:29But we'd like some
39:32Alright
39:41Brian?
39:45Let's put a pin in the arrest
39:47What?
39:48Get Birch in here
39:49It's time to settle
39:50No
39:51No
39:52No
39:52No
39:52No
39:52We have him
39:54Dead to rights
39:55On this trial
39:55I'm first chair
39:56Then it's jail for this gem
39:58We have him dead to rights
39:59So he'll fold quick
40:00And then we get back to what we were doing
40:02Axelrod
40:03I'm not letting us follow the rider
40:04Less horse any longer
40:07But the riders
40:07Witch Cassidy and the Sundance Kid
40:09They were smart
40:13They sent one of their horses off in a different direction
40:15So the posse would have to split up
40:18Get distracted
40:21But this was no ordinary posse
40:24This was a super posse
40:26The super posse
40:28Mixed group of superheroes
40:29A sheriff
40:30A marshal
40:31An Indian
40:32A Native American
40:34Sure
40:35And the Cherokee man
40:37He could read the depth of the impression the horses have made
40:40On rock
40:42And when he realized they were chasing a riderless horse
40:47They got right back on Butch's trail
40:51I remember now
40:52I watched it with my dad
40:53And one of the Saturdays he showed up
40:55And I didn't root for the super posse
40:58I rooted for Butch and Sundance
41:00Of course you did
41:01We all did
41:04But that's not who we are anymore
41:23Hey Garth
41:24Ken?
41:29I'd call you Sir Ken out of respect for your advanced age and your accomplishments
41:33But as much as you like it you were born in Chicago
41:35And no one born there was ever knighted
41:37He would like it if we called him Sir
41:39He is that type
41:41You are that type
41:42Ken
41:43And then what would we call you Axe?
41:45Oh hell Kenny
41:46Call me whatever the fuck you want
41:52Or better
41:53Don't ever call me
41:55You know the reason why you should never call me?
41:57Because you're a poacher Ken
41:58And guys like Garth and me
42:00We do not like poachers
42:01Come drag a deer off my land
42:03To see what the fuck happens to you
42:06Well now that you've joined us
42:07Let me ask you
42:09How you doing?
42:11I'm gonna let you in on something here Garth
42:13Hedgefront guys only ask that question
42:15When they know the other guy is running bad
42:17Which he thinks because you were sitting with him
42:19Ah we're just catching up
42:21And you still haven't answered
42:22It's a crusty other guy business
42:25It's like Highlander
42:26There can be only one
42:28I don't blame you Ken
42:30I do the same thing
42:32But I'm up 32% this year
42:35Which from what I know of your run and height approach
42:37Is 30 points better than what you are at Vista Verde
42:41Well you can call it what you want
42:42But I call it careful
42:45Risk averse
42:47When I opened my fund
42:49I was very aware of the responsibility
42:51That people like Garth put in my hands
42:53Which is why I hedge my investments
42:56I protect the downside
43:00I mean to be a rock star
43:02But I'm still plugging away
43:04All these many years later
43:08Have fun with your plugger
43:10We step away for a sec
43:20I love talking to you Axe
43:22And you made us a shit ton of money
43:23But I need to keep things nice and comfy
43:28Results and optics
43:31My job is to spot a fund manager
43:33Taking his eye off the ball before he strikes out
43:36That's what my members count on
43:37And they see someone like Kenneth
43:39Dry acid he is
43:41As solid
43:45Part of the firmament
43:47Sometimes that's important
43:49I hear you
43:51And I know you hated the headline in the newspaper
43:54Do what you have to do
43:57But I hope that in the days to come
43:58You see me as part of that firmament
44:02I think you will
44:14You've all seen the evidence we've gathered
44:17Regarding your railroad trades
44:19If we prevail a trial
44:21Which we're confident we will
44:23The federal sentencing guidelines
44:25Call for you to serve
44:2611 years
44:30We understand that you have young children
44:33Well maybe they'll be out of college
44:34By the time you're released
44:36Maybe you can make it to their weddings
44:39But like we told your lawyers
44:42We're willing to forego that for a quick plea
44:44An admission of guilt
44:46A forfeiture money judgment of 386 million dollars
44:50As well as the voluntary shuttering of your fund
44:52And conversion of it to a family office
44:55You no longer handle any outside money
44:57I can get the SEC in here right now to do that
44:59If you don't agree
45:02So settlement or trial
45:06We're prepared to fight this for as long as we
45:08I came here today to take a deal
45:13I don't want to go to jail
45:16My last choice, Mr. Birch
45:19Stay in the light
45:20You won't be getting a chance like this again
45:34This doesn't have to be over
45:35I'm actually relieved we settled
45:38I don't want to go to jail
45:39I don't want to go to jail
45:43I don't want to go to jail
45:49I don't want to go to jail
45:49I don't want to go to jail
45:49I don't want to go to jail
45:51I don't want to go to jail
45:52I don't want to go to jail
45:53I don't want to go to jail
45:54I don't want to go to jail
45:55I don't want to go to jail
45:55I don't want to go to jail
45:56I don't want to go to jail
45:57I don't want to go to jail
45:57I don't want to jail
45:58I don't want to go to jail
45:58I don't want to jail
45:58I don't want to jail
45:58I don't want to jail
45:59I don't want to jail
46:00I don't want to jail
46:01I don't want to jail
46:14comfortable for the first time all fucking day well i have someone coming in here soon and they
46:20might be a little freak to see their boss i just came by to say thank you and sorry
46:30two words i don't say very often so it's handled with victor
46:35you nailed it on every count and he got paid i used everything i knew about him to make him
46:42capitulate that's why i asked you to go you know why i went for you
46:50you and i
46:53we've never let each other down in all these years
46:57and i wasn't about to start because you acted like that never happened
47:05cut me out again and i'm gone
47:10i know
47:22i won't
47:38ellis eads we are honored to share this privilege with you mr axelrod with you too
47:42mrs axelrod there's no sharing ellis it's axelrod hall now no of course we understand you think you do
47:51now i saw that when i came in here you don't remember me chad i know who you are
47:57but you don't actually remember we've met before
48:03i caddied at the spoon when i was a kid
48:05it was the perfect summer job i carried your grandfather's bag quite a few times
48:11your bag too chad in the summer after middle school
48:15how funny that we all end up here
48:17now here's the thing
48:19a lot of numbers have been thrown around
48:22a hundred for the naming rights 25 for your name to come down
48:26but there's one number that really matters to me
48:2916
48:32and we'll see if you still think it's funny chad
48:3516 dollars is what a caddy got paid for a loop
48:39four hours of humping bags smelling sour cigars
48:42and watching all of you lie to each other about your golf scores in the 95 degree heat
48:47but i was happy for the job
48:50that's 16 bucks and i would do two loops a day
48:53so it was 32 on a saturday 32 on a sunday by the end of the weekend i'd have 64
48:57bucks
48:5816 weekends memorial to labor day 1024
49:02that was his spending money for the entire year he'd stretch it out until the next summer
49:06pretty much
49:09until
49:11and you were there for this chad
49:13your grandfather asked me to read a putt on three
49:16it was a left to right leaker and i told him so
49:18i'd seen the putt all summer long
49:20he closed the face pulled it
49:22missed it by a foot
49:24you laughed at him
49:26you made fun of his eyesight
49:28and he turned to me
49:30and he fired me
49:32right there
49:33not from the round
49:34but from the club
49:37now i needed that 16 dollars
49:38but he didn't give a shit
49:39because he was embarrassed to have missed a putt in front of his grandson
49:43are you saying we are here because of that ancient bullshit
49:46that's right
49:4816
49:51which is why i am presenting you with a check
49:54for 25 million dollars
49:58minus 16
49:59which leaves you with 9 million
50:02that is bullshit
50:04this is unacceptable
50:04this is bullshit
50:05we will walk out of here if you don't honor the full amount
50:07no you won't
50:09you need this 9 million dollars
50:11because none of you
50:12not one
50:13it's not a single day of work
50:15from the moment your miserable prick of a grandfather fell face down in the sand in palm beach
50:20and after reviewing your holdings
50:22your business interests
50:24your debts
50:24i know that this check is the only thing standing between your family and bankruptcy
50:29so pick it up
50:31put it in your pocket
50:32and walk out of here
50:35all right well
50:56so now the axle rod name will be forever affixed to this building for all time
51:03or until some guy richer than me wants it to come down
51:07you really started something
51:12not that it's wrong
51:14that it needs riding
51:20just all alone
51:22i've been high
51:24hiding
51:25some quick
51:28or some slow
51:30sometimes
51:32it drops so low
51:33and arrives
51:35as it rises
51:38concerns
51:39capsizing
51:42not
51:48very much
51:50he's
51:51and he can play
51:59oh
52:00You
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