1 00:00:10,880 --> 00:00:14,120 ♪ ("VERIDIS QUO" BY DAFT PUNK PLAYING) ♪ 2 00:00:19,120 --> 00:00:21,040 ♪ (SONG FADES) ♪ 3 00:00:22,160 --> 00:00:23,360 HENRY MUCK: So you knew. 4 00:00:24,000 --> 00:00:26,120 No, I didn't know shit. 5 00:00:26,200 --> 00:00:28,440 Surely, it was obvious that I couldn't stand the little creep. 6 00:00:28,520 --> 00:00:30,720 He was in our house practically swallowing you. 7 00:00:30,800 --> 00:00:33,080 Well, you should have been fucking specific! 8 00:00:33,160 --> 00:00:35,880 You introduced us. You didn't think, I don't know, 9 00:00:35,960 --> 00:00:38,240 maybe if you had concerns about a... 10 00:00:38,320 --> 00:00:40,000 about a life-altering disaster, 11 00:00:40,080 --> 00:00:41,960 one that you helped me get into... 12 00:00:42,040 --> 00:00:46,160 You need to stop speaking to me like that! 13 00:00:46,240 --> 00:00:47,280 You never had the right 14 00:00:47,360 --> 00:00:49,080 and you certainly don't have it now! 15 00:00:49,160 --> 00:00:51,000 (HENRY SOBBING) 16 00:00:51,080 --> 00:00:53,040 (HOARSELY) Yas, what the fuck are we gonna do? 17 00:00:53,120 --> 00:00:54,640 (LETTER RUSTLING) 18 00:00:54,720 --> 00:00:56,840 Honestly, what the fuck am I gonna do? 19 00:00:56,920 --> 00:00:58,760 I mean, "Now that you're implicated." 20 00:00:59,280 --> 00:01:00,280 I-- What does it mean? 21 00:01:00,360 --> 00:01:02,360 Oh, it's just self-mythologizing nonsense. 22 00:01:02,440 --> 00:01:04,760 It reads like a guru terrorist manifesto. 23 00:01:04,840 --> 00:01:06,040 It's a threat. 24 00:01:06,840 --> 00:01:07,840 (SIGHS) 25 00:01:09,039 --> 00:01:12,080 (EXHALES SHAKILY) Look, I-- I-- I think, uh... 26 00:01:12,160 --> 00:01:14,560 I think what he's saying is... (STAMMERS) ...is that ignorance 27 00:01:14,640 --> 00:01:16,840 is not a credible legal defense for me. 28 00:01:16,920 --> 00:01:18,520 He's saying I won't be spared jail. 29 00:01:18,600 --> 00:01:20,080 YASMIN KARA-HANINI: (SOFTLY) Oh my God. 30 00:01:20,160 --> 00:01:21,400 HENRY: Shall I wipe my phone? 31 00:01:21,480 --> 00:01:24,520 -My emails? -No, no, no, I don't think so. 32 00:01:25,720 --> 00:01:27,960 -It's an admission of guilt. -Yeah, but I'm not guilty! 33 00:01:28,000 --> 00:01:29,200 I don't think that matters anymore, 34 00:01:29,280 --> 00:01:30,480 does it, Henry? 35 00:01:32,680 --> 00:01:34,640 Fucking headlines write themselves. 36 00:01:34,680 --> 00:01:37,400 I mean, we live in a house paid for by Tender. 37 00:01:38,479 --> 00:01:39,920 Both of our salaries will be cut off. 38 00:01:40,000 --> 00:01:41,880 Our stock is worthless. 39 00:01:41,960 --> 00:01:43,920 Where is the rest of the money, Henry? 40 00:01:47,039 --> 00:01:48,080 What? 41 00:01:50,120 --> 00:01:51,640 What? Where the fuck is it, Henry? 42 00:01:51,720 --> 00:01:53,759 No one could put that much in their arm. 43 00:01:53,800 --> 00:01:55,560 You still have a fucking nose on your face, 44 00:01:55,640 --> 00:01:57,039 so where's the rest of the money? 45 00:02:01,080 --> 00:02:03,360 I used it to, um, to buy some... 46 00:02:03,400 --> 00:02:04,960 well, to buy Tender stock. 47 00:02:06,800 --> 00:02:07,920 (EXHALES SHAKILY) 48 00:02:09,639 --> 00:02:11,520 (QUIETLY) Oh my God. 49 00:02:11,600 --> 00:02:13,800 Yeah, why are we talking about money again? 50 00:02:14,920 --> 00:02:18,840 The public perception of my morality is on the block. 51 00:02:18,920 --> 00:02:20,720 And, please, take this with the love 52 00:02:20,760 --> 00:02:22,920 with which it is intended, but nobody gives a fuck 53 00:02:23,000 --> 00:02:24,640 about how you come out of this, okay? 54 00:02:24,720 --> 00:02:27,240 -Not in the wider scheme. -Are you kidding me? 55 00:02:27,320 --> 00:02:29,040 Henry, we're gonna end up with nothing! 56 00:02:29,120 --> 00:02:30,280 We're gonna end up with nothing! 57 00:02:30,360 --> 00:02:33,400 How can you give a single shit about the fucking press release? 58 00:02:33,480 --> 00:02:34,920 Because it's what matters! 59 00:02:36,760 --> 00:02:38,240 Because I want to be better! 60 00:02:39,520 --> 00:02:42,840 Because that's the purpose of living a life. To be better! 61 00:02:42,920 --> 00:02:44,840 You know, I am a good person, 62 00:02:44,920 --> 00:02:46,680 and the world shall tell that back to me, 63 00:02:46,720 --> 00:02:48,600 otherwise what am I doing here? 64 00:02:48,680 --> 00:02:50,040 -What am I for? -Oh my God! 65 00:02:50,079 --> 00:02:52,240 ♪ (TENSE MUSIC PLAYING) ♪ 66 00:02:53,960 --> 00:02:56,440 (YASMIN BREATHING SHAKILY) 67 00:03:00,640 --> 00:03:01,640 You're right. 68 00:03:05,840 --> 00:03:07,920 You're right, of course. I'm so sorry. 69 00:03:15,800 --> 00:03:18,800 ♪ ("THE PROMISE" BY WHEN IN ROME PLAYING) ♪ 70 00:03:40,000 --> 00:03:42,000 (SOFTLY) We're not the ones to blame here. 71 00:03:44,360 --> 00:03:46,160 Other people let this happen. 72 00:03:47,400 --> 00:03:48,560 Remember that. 73 00:03:53,000 --> 00:03:54,079 Of course. 74 00:04:04,880 --> 00:04:06,360 -♪ I'm sorry-- ♪ -♪ (SONG CUTS OFF) ♪ 75 00:04:06,440 --> 00:04:07,920 (BIRDS CHIRPING) 76 00:04:13,320 --> 00:04:16,000 -♪ (TENSE MUSIC PLAYING) ♪ -KWABENA BANNERMAN: Fuck, it snapped back. 77 00:04:16,040 --> 00:04:17,600 Tender's up almost ten percent already. 78 00:04:17,680 --> 00:04:19,320 Uh, they've issued another press release 79 00:04:19,399 --> 00:04:21,519 of Tony Day's denials in writing. 80 00:04:21,600 --> 00:04:22,640 HARPER STERN: Anything new in it? 81 00:04:22,720 --> 00:04:24,040 SWEETPEA GOLIGHTLY: "Claims are baseless 82 00:04:24,120 --> 00:04:25,400 and misleading and do not represent 83 00:04:25,480 --> 00:04:27,360 the company's financial reality. 84 00:04:27,440 --> 00:04:30,080 The company maintains a robust internal framework." 85 00:04:30,160 --> 00:04:32,280 I mean, this shit is literally designed 86 00:04:32,360 --> 00:04:33,920 to make any reader glaze over. 87 00:04:33,960 --> 00:04:35,960 Yeah, everything is a rehash at this point. 88 00:04:36,040 --> 00:04:37,400 Anything about a new audit? 89 00:04:37,480 --> 00:04:39,320 No, just affirmations of the results 90 00:04:39,400 --> 00:04:40,520 of previous ones. 91 00:04:40,560 --> 00:04:44,280 Okay, so we hold the line until a new one is confirmed. 92 00:04:44,360 --> 00:04:46,640 Yeah, well, who's forcing them into that? 93 00:04:46,720 --> 00:04:49,200 Without another audit, we're dead in the water. 94 00:04:49,240 --> 00:04:50,640 Um... 95 00:04:50,720 --> 00:04:54,080 Well, I mean, maybe it's time we, uh, 96 00:04:54,159 --> 00:04:56,840 meditate on how we catalyze the audit that kills them. 97 00:05:01,400 --> 00:05:03,120 What would Eric's take be on that? 98 00:05:04,600 --> 00:05:05,640 How should I know? 99 00:05:06,880 --> 00:05:08,360 He decided not to be here. 100 00:05:12,400 --> 00:05:15,160 ♪ (OMINOUS MUSIC PLAYING) ♪ 101 00:05:38,560 --> 00:05:39,680 Shut the door. 102 00:05:41,400 --> 00:05:42,520 ♪ (MUSIC CONCLUDES) ♪ 103 00:05:46,760 --> 00:05:47,800 Can you, uh... 104 00:05:49,000 --> 00:05:51,280 let me gather my thoughts for a second? Sorry. 105 00:05:53,400 --> 00:05:54,440 Take your time. 106 00:05:56,200 --> 00:05:57,600 We don't have much. 107 00:05:59,480 --> 00:06:01,640 I feel like I'm in the room with a reptile. 108 00:06:02,400 --> 00:06:03,920 No, just a man. 109 00:06:06,840 --> 00:06:08,680 Get whatever you need to off your chest, 110 00:06:08,720 --> 00:06:10,280 'cause I need you to focus. 111 00:06:15,440 --> 00:06:17,640 I've been thinking about going to the authorities all night. 112 00:06:17,720 --> 00:06:19,280 Why shouldn't I? 113 00:06:19,360 --> 00:06:22,000 You already know why you didn't go, or you would've gone. 114 00:06:23,560 --> 00:06:25,360 I'm an accessory. 115 00:06:25,400 --> 00:06:27,800 -WHITNEY HALBERSTRAM: You're the face of the company. -An accomplice? 116 00:06:27,840 --> 00:06:30,520 Fraud, embezzlement, market manipulation. 117 00:06:31,480 --> 00:06:32,680 Hire the cream of the legal crop, 118 00:06:32,760 --> 00:06:34,680 you're not escaping jail time, Henry. 119 00:06:34,760 --> 00:06:36,760 ♪ (TENSE MUSIC PLAYING) ♪ 120 00:06:36,840 --> 00:06:38,040 (MUTTERS) So... 121 00:06:39,680 --> 00:06:41,560 why write me that letter? 122 00:06:41,640 --> 00:06:45,240 Think of the optics if my CEO went AWOL now. 123 00:06:46,040 --> 00:06:47,120 Besides... 124 00:06:48,480 --> 00:06:50,200 we're close enough for honesty. 125 00:06:51,680 --> 00:06:53,040 Fuck yourself. 126 00:06:53,120 --> 00:06:54,800 Everything we have done 127 00:06:54,880 --> 00:06:56,560 since we partnered has been true. 128 00:06:58,280 --> 00:07:00,920 Why let them rob us of our glory for what was, at the time, 129 00:07:01,000 --> 00:07:02,880 necessary balance sheet imagination? 130 00:07:04,160 --> 00:07:06,640 Our share price will continue to recover. 131 00:07:06,720 --> 00:07:08,560 Tender 2.0 has successfully transitioned us 132 00:07:08,640 --> 00:07:10,680 into real revenue 133 00:07:10,760 --> 00:07:14,280 and phased out inflated third-party acquisition flaws. 134 00:07:14,760 --> 00:07:15,800 "Fake." 135 00:07:17,040 --> 00:07:20,320 Do you start using the fucking word "fake"? 136 00:07:22,200 --> 00:07:23,960 I watched SternTao's presentation, 137 00:07:24,040 --> 00:07:26,280 which part of it was wrong, exactly? 138 00:07:26,360 --> 00:07:27,800 WHITNEY: It's simply a misalignment 139 00:07:27,880 --> 00:07:29,240 between the velocity of my vision 140 00:07:29,320 --> 00:07:30,720 and the velocity of regulation. 141 00:07:30,760 --> 00:07:32,480 And that gap is where smart people 142 00:07:32,560 --> 00:07:33,720 have always made money. 143 00:07:35,120 --> 00:07:36,120 Henry, look at me. 144 00:07:38,240 --> 00:07:39,440 I have to buy time. 145 00:07:40,920 --> 00:07:41,840 Make a clean audit 146 00:07:41,920 --> 00:07:43,960 as protracted a process as possible. 147 00:07:44,040 --> 00:07:47,320 Delay and complicate until some of our, uh, 148 00:07:47,400 --> 00:07:49,680 overrepresented cash flows can be swallowed 149 00:07:49,760 --> 00:07:51,560 by a much larger balance sheet. 150 00:07:51,640 --> 00:07:52,960 How? 151 00:07:53,880 --> 00:07:54,960 Targeted acquisition. 152 00:07:56,680 --> 00:07:57,600 Hostile takeover. 153 00:07:57,680 --> 00:07:59,720 'Cause it's as simple as saying that, right? 154 00:07:59,800 --> 00:08:02,000 How the fuck would that even work? 155 00:08:02,080 --> 00:08:03,120 A few months ago, 156 00:08:03,160 --> 00:08:07,600 when you said we should increase our stake in Pierpoint, 157 00:08:07,640 --> 00:08:10,400 I used Cayman and Luxembourg SPVs 158 00:08:10,480 --> 00:08:13,000 to build an undisclosed synthetic position 159 00:08:13,080 --> 00:08:15,000 to buy shares in Pierpoint. 160 00:08:17,560 --> 00:08:20,600 Al-Mi'raj are spinning Pierpoint out. 161 00:08:20,680 --> 00:08:21,920 They've been looking for an exit, 162 00:08:22,000 --> 00:08:23,640 practically ever since they bought the old bitch. 163 00:08:23,680 --> 00:08:25,080 Do you even know what you sound like? 164 00:08:25,160 --> 00:08:26,520 This is how it's gonna play. 165 00:08:27,440 --> 00:08:32,720 We say, "Due to a transformational merger, 166 00:08:32,760 --> 00:08:37,159 any audit must reflect pro forma consolidation." 167 00:08:37,880 --> 00:08:39,880 We need to hire more advisors. 168 00:08:39,960 --> 00:08:41,919 Since you unwisely fired my auditor of choice, 169 00:08:42,000 --> 00:08:44,200 we have to add intermediaries, add complexity 170 00:08:44,280 --> 00:08:47,160 to the, uh, jurisdictional fog of who audits us, 171 00:08:47,240 --> 00:08:50,880 plus the media smokescreen of a turbo-bullish headline. 172 00:08:54,280 --> 00:08:56,480 I don't think there's a single person on earth 173 00:08:56,520 --> 00:08:58,480 who thinks like that in this scenario. 174 00:09:00,240 --> 00:09:01,720 No, you're lucky you have me. 175 00:09:08,280 --> 00:09:09,520 What do I... What do I do? 176 00:09:11,200 --> 00:09:12,400 WHITNEY: Believe in us. 177 00:09:15,120 --> 00:09:16,160 One more time. 178 00:09:16,680 --> 00:09:17,680 (KNOCKING ON DOOR) 179 00:09:19,840 --> 00:09:21,800 Whitney, the board's convening in an hour. 180 00:09:25,360 --> 00:09:26,400 (DOOR CLOSING) 181 00:09:27,800 --> 00:09:29,840 (SOFTLY) Oh, God. 182 00:09:29,880 --> 00:09:31,560 Well, I'm sure it hasn't gone unnoticed 183 00:09:31,640 --> 00:09:32,760 for the Secretary of State 184 00:09:32,840 --> 00:09:34,520 that there are whispers in the city 185 00:09:34,600 --> 00:09:36,400 that some of the Tender profits 186 00:09:36,480 --> 00:09:39,600 are as real as a stripper's affection. 187 00:09:39,680 --> 00:09:41,440 Well, I'm sure his colorful, 188 00:09:41,520 --> 00:09:43,240 roguish language will continue to play well 189 00:09:43,320 --> 00:09:44,760 for the Andrew Tate clones 190 00:09:44,840 --> 00:09:46,480 and Russian bots who like all his posts. 191 00:09:46,560 --> 00:09:48,600 LEWIS GOODALL: This shouldn't descend into cheap point scoring. 192 00:09:48,680 --> 00:09:51,120 (ON TV) It is clearly in the public interest 193 00:09:51,200 --> 00:09:54,480 to understand what position Tender is now in, 194 00:09:54,560 --> 00:09:56,480 and what risk it might now pose. 195 00:09:56,560 --> 00:09:57,520 SEBASTIAN STEFANOWICZ: Agreed. 196 00:09:57,600 --> 00:09:59,240 So let's ask the Secretary of State 197 00:09:59,320 --> 00:10:02,120 to just explain the nature of her interactions 198 00:10:02,200 --> 00:10:03,560 with Tender senior management. 199 00:10:03,640 --> 00:10:06,440 Sebastian, as a former entrepreneur yourself, 200 00:10:06,520 --> 00:10:08,240 you well know that ministers routinely meet 201 00:10:08,320 --> 00:10:10,120 with a large number of business leaders, 202 00:10:10,160 --> 00:10:12,280 stakeholders and industry representatives. 203 00:10:12,360 --> 00:10:14,080 All such meetings are conducted in line 204 00:10:14,160 --> 00:10:15,280 with the Ministerial Code 205 00:10:15,360 --> 00:10:17,080 and they are properly recorded in transparency returns. 206 00:10:17,160 --> 00:10:19,120 But people are saying that you and your department 207 00:10:19,200 --> 00:10:21,480 were in bed with Tender senior management, 208 00:10:21,560 --> 00:10:24,160 and expedited their licenses and approvals 209 00:10:24,200 --> 00:10:25,280 in search of good headlines. 210 00:10:25,360 --> 00:10:26,920 Expediting licenses? I mean, 211 00:10:27,000 --> 00:10:29,480 that is a serious allegation you're making against the Minister personally there. 212 00:10:29,560 --> 00:10:31,160 Yes. Do you have proof? 213 00:10:31,240 --> 00:10:33,920 'Cause what you're saying is a deliberate inflammation of totally normal practice. 214 00:10:34,000 --> 00:10:35,240 So you are in bed with them? 215 00:10:35,280 --> 00:10:36,680 I-- Look, I'm not in bed with anyone 216 00:10:36,720 --> 00:10:38,160 apart from my husband. Sorry, you... 217 00:10:38,240 --> 00:10:40,520 -We almost had a scoop there, Secretary of State. -(CHUCKLES) Yeah. Yeah. 218 00:10:40,560 --> 00:10:42,400 Uh, you have no proof. 219 00:10:42,480 --> 00:10:44,480 SEBASTIAN: Look, I understand the mainstream media hasn't deemed 220 00:10:44,520 --> 00:10:46,200 this front-page news yet, 221 00:10:46,280 --> 00:10:49,360 but, uh, people's lives and their hard-won finances, 222 00:10:49,440 --> 00:10:51,000 they don't play out in the business pages. 223 00:10:51,080 --> 00:10:53,440 These are real people. This is real money. 224 00:10:53,520 --> 00:10:56,120 These are not pieces on Whitehall's chessboard. 225 00:10:56,200 --> 00:10:59,680 Lisa has, uh, has made a career attacking Conservative, 226 00:10:59,760 --> 00:11:02,640 cozy contamination of party politics and business beliefs. 227 00:11:02,680 --> 00:11:03,960 All I would say to your listeners 228 00:11:04,040 --> 00:11:07,680 is sometimes when you are shown a hypocrite, 229 00:11:07,760 --> 00:11:09,280 all you can do is hand them a mirror. 230 00:11:09,360 --> 00:11:10,560 LEWIS: Look, we've heard your spiel, 231 00:11:10,640 --> 00:11:11,840 and we don't need to hear it again. 232 00:11:11,920 --> 00:11:13,640 Far more important is the question 233 00:11:13,720 --> 00:11:15,320 of how vulnerable this bank is. 234 00:11:15,400 --> 00:11:17,040 -(DIAL TONE RINGING) -LEWIS: There are suggestions, 235 00:11:17,120 --> 00:11:18,920 Business Secretary, you have seen on social media... 236 00:11:19,000 --> 00:11:21,840 Alexander, um, are you in London? 237 00:11:24,040 --> 00:11:25,600 (INDISTINCT CHATTER) 238 00:11:26,920 --> 00:11:29,400 What's the blast radius of this fucking thing? 239 00:11:29,440 --> 00:11:30,960 How big could it get and how quickly? 240 00:11:31,000 --> 00:11:34,440 We were doing our jobs and fulfilling the PM's brief. 241 00:11:34,480 --> 00:11:37,920 The insistent messaging about post-Brexit dynamism. 242 00:11:38,000 --> 00:11:39,800 The amount of bastard times he said to me, 243 00:11:39,880 --> 00:11:41,280 "Lisa, we can't keep losing contracts 244 00:11:41,360 --> 00:11:42,520 to Frankfurt and Dubai. 245 00:11:42,600 --> 00:11:44,080 Make the world feel we're pro-enterprise." 246 00:11:44,120 --> 00:11:46,240 If you think deflecting blame to Number 10's 247 00:11:46,320 --> 00:11:48,520 gonna help your cause, I'd advise a rethink. 248 00:11:48,560 --> 00:11:50,320 We don't know what we're dealing with yet. 249 00:11:50,400 --> 00:11:52,440 We may have been elected with a sandcastle majority, 250 00:11:52,520 --> 00:11:53,960 but it doesn't mean the PM needs to govern 251 00:11:54,000 --> 00:11:55,360 like a shit-scared Kremlinite. 252 00:11:55,400 --> 00:11:56,880 RICKY MARTYN: We're not gonna wear that risk. 253 00:11:56,960 --> 00:11:58,480 What's stopping us flushing this out, 254 00:11:58,560 --> 00:12:00,080 calling our own audit? 255 00:12:00,160 --> 00:12:02,120 LISA DEARN: We can't mark our own homework. 256 00:12:02,200 --> 00:12:04,160 -(CELL PHONE BUZZING) -RICKY: Fuck's sake. 257 00:12:04,200 --> 00:12:07,480 And what does a fucking self-inflicted bailout do 258 00:12:07,560 --> 00:12:09,040 to our sandcastle majority? 259 00:12:09,120 --> 00:12:10,800 ♪ (INTENSE MUSIC PLAYING) ♪ 260 00:12:10,840 --> 00:12:12,720 The PM's gonna want a fucking name. 261 00:12:15,520 --> 00:12:16,680 (SIGHS) 262 00:12:20,280 --> 00:12:22,640 Thanks for not throwing me to the wolves. 263 00:12:22,720 --> 00:12:25,000 I'd probably stand up for David Cameron 264 00:12:25,080 --> 00:12:26,840 against that toady gobshite. 265 00:12:28,000 --> 00:12:30,520 Can I offer you an apology? 266 00:12:30,560 --> 00:12:32,880 Spare me. I backed you. 267 00:12:32,960 --> 00:12:34,720 And then I watched your naivety play out 268 00:12:34,800 --> 00:12:35,920 in slow motion. 269 00:12:36,000 --> 00:12:37,560 JENNIFER BEVAN: Maybe we can ride this out. 270 00:12:37,600 --> 00:12:39,960 How many off-book meetings did you have 271 00:12:40,040 --> 00:12:41,600 with Tender management? 272 00:12:41,640 --> 00:12:43,440 How many times did the Mucks pick up the tab? 273 00:12:43,520 --> 00:12:44,680 How frequently are you recorded 274 00:12:44,760 --> 00:12:46,400 as being in their offices or their home? 275 00:12:48,040 --> 00:12:50,120 Make no mistake, if this flares up anymore, 276 00:12:50,200 --> 00:12:52,480 they'll throw a body overboard before Politics Hour, 277 00:12:52,560 --> 00:12:53,720 and your answer to those questions 278 00:12:53,800 --> 00:12:55,480 is more damning than mine. 279 00:12:56,640 --> 00:12:57,720 Sorry. 280 00:13:06,880 --> 00:13:09,160 Yasmin, it's Jenni. Um... 281 00:13:09,680 --> 00:13:11,360 Thanks for reaching out. 282 00:13:11,400 --> 00:13:14,120 Listen, I-- I-- I do think I need to speak to Norton. 283 00:13:14,840 --> 00:13:17,440 And Kevin from the red-top. 284 00:13:17,520 --> 00:13:20,400 Kevin thinks the Prime Minister is a Marxist, Jenni. 285 00:13:20,480 --> 00:13:23,360 I mean, he makes Marine Le Pen look like a Lib Dem councilor. 286 00:13:23,440 --> 00:13:26,160 JENNIFER: I still think I am gonna need the help 287 00:13:26,240 --> 00:13:27,320 of the Norton tabloids. 288 00:13:27,360 --> 00:13:29,280 I'm just... 289 00:13:29,320 --> 00:13:31,640 I'm trying to see how I'm gonna land in the fallout. 290 00:13:32,400 --> 00:13:33,880 You sound a little scared. 291 00:13:35,200 --> 00:13:37,480 JENNIFER: I just need to understand my options. 292 00:13:37,560 --> 00:13:38,760 I need to be smart. 293 00:13:39,480 --> 00:13:40,600 Yeah, okay. 294 00:13:40,680 --> 00:13:44,000 Well, look, I'm here to help, so let me see what I can do. 295 00:13:44,440 --> 00:13:45,640 All right? 296 00:13:49,280 --> 00:13:51,880 ♪ (MUSIC CONCLUDES) ♪ 297 00:13:51,960 --> 00:13:54,080 Sounds like they're scrambling. 298 00:13:54,120 --> 00:13:56,160 YASMIN: Yeah. 299 00:13:56,240 --> 00:13:59,360 Look, it's best for the family to start shaping a narrative 300 00:13:59,440 --> 00:14:02,320 that shifts the blame to the right place. 301 00:14:04,880 --> 00:14:07,240 Labour's relationship with Halberstram predates mine 302 00:14:07,320 --> 00:14:09,440 and Henry's involvement in the company. 303 00:14:10,760 --> 00:14:12,320 I think that's the story. 304 00:14:13,320 --> 00:14:15,080 I think we should use the tabloids. 305 00:14:15,600 --> 00:14:16,760 Kevin. 306 00:14:21,440 --> 00:14:22,880 He's the right man for this. 307 00:14:24,960 --> 00:14:26,320 You know, if we splash with this, 308 00:14:26,400 --> 00:14:28,160 lead with the government, I don't think there's any way 309 00:14:28,240 --> 00:14:29,600 the company survives. 310 00:14:30,360 --> 00:14:31,680 Have you factored that in? 311 00:14:35,240 --> 00:14:37,520 It-- (STAMMERS) It's what's best for the family. 312 00:14:39,840 --> 00:14:41,400 Yes, you keep saying that. 313 00:14:43,600 --> 00:14:46,960 Maybe there's no need for me to put this delicately, but... 314 00:14:47,000 --> 00:14:50,160 may I inquire about the status of your marriage? 315 00:14:54,120 --> 00:14:56,440 You've seen my marriage, Alexander. 316 00:14:56,520 --> 00:14:59,080 His behavior, his treatment of you, 317 00:14:59,160 --> 00:15:00,320 it hasn't improved? 318 00:15:02,920 --> 00:15:05,720 You know, I-- I'm not saying that I'm blameless. 319 00:15:07,960 --> 00:15:09,520 I mean, there are high highs, 320 00:15:10,840 --> 00:15:12,400 but the lows are low. 321 00:15:15,480 --> 00:15:16,920 Yeah, he's unfaithful. 322 00:15:18,640 --> 00:15:21,320 -I know he's an addict, but... -He's relapsed. 323 00:15:22,200 --> 00:15:24,600 -Drink? -YASMIN: Definitely booze. 324 00:15:26,360 --> 00:15:27,640 (SIGHS) 325 00:15:30,520 --> 00:15:32,920 I'm not sure about the rest. I mean, I know that 326 00:15:34,120 --> 00:15:35,560 he's a cocaine user. 327 00:15:39,440 --> 00:15:41,040 And I know he's used heroin. 328 00:15:50,120 --> 00:15:51,240 Often. 329 00:15:58,440 --> 00:15:59,440 Often? 330 00:16:02,200 --> 00:16:03,240 Often. 331 00:16:07,760 --> 00:16:09,520 WHITNEY: Good afternoon, everyone. 332 00:16:09,600 --> 00:16:12,440 We wanna launch a stock-for-stock hostile takeover 333 00:16:12,520 --> 00:16:14,360 of Pierpoint ahead of their AGM this week. 334 00:16:15,560 --> 00:16:16,600 Tenacious. 335 00:16:16,680 --> 00:16:18,640 WHITNEY: Henry and I could jump on a flight tonight. 336 00:16:18,720 --> 00:16:20,000 Our stock continues to rally, 337 00:16:20,080 --> 00:16:21,600 so we'd be trading at a premium to Pierpoint. 338 00:16:21,680 --> 00:16:24,840 I don't understand why we aren't privileging a new audit. 339 00:16:24,920 --> 00:16:26,360 We have nothing to hide. 340 00:16:26,440 --> 00:16:28,400 If there are no skeletons in the closet, 341 00:16:28,440 --> 00:16:30,720 why not open the closet? 342 00:16:30,800 --> 00:16:33,640 I imagine there is a time sensitivity issue. 343 00:16:33,720 --> 00:16:36,080 Also a confidentiality issue 344 00:16:36,160 --> 00:16:38,880 around disclosure of valuations in the deal terms. 345 00:16:39,680 --> 00:16:43,080 Henry, you're Whitney's chosen man. 346 00:16:43,160 --> 00:16:44,760 Is he making the right call here? 347 00:16:44,840 --> 00:16:46,240 ♪ (DRAMATIC MUSIC PLAYING) ♪ 348 00:16:50,040 --> 00:16:51,160 Fuck's sake, Henry! 349 00:16:51,240 --> 00:16:53,120 Tell them how passionately you lobbied me for this 350 00:16:53,200 --> 00:16:54,720 as our fearless leader and CEO. 351 00:16:58,160 --> 00:17:00,560 Al-Mi'raj Pierpoint 352 00:17:00,640 --> 00:17:04,000 is already subject to audit supervision. 353 00:17:04,079 --> 00:17:07,920 We could consolidate post-acquisition 354 00:17:08,000 --> 00:17:13,240 and submit to a group-wide audit next year. 355 00:17:14,200 --> 00:17:17,760 This is an essential move for our longevity. 356 00:17:17,839 --> 00:17:20,359 We are saying to the world and market, 357 00:17:20,440 --> 00:17:21,520 we aren't scared. 358 00:17:22,280 --> 00:17:23,319 We don't run. 359 00:17:25,079 --> 00:17:26,359 Running is not an option. 360 00:17:27,640 --> 00:17:28,800 SAFFRON NEWMAN: To be clear, 361 00:17:28,880 --> 00:17:31,360 this isn't final acquisition approval? 362 00:17:31,440 --> 00:17:32,560 WHITNEY: Correct. With this vote, 363 00:17:32,640 --> 00:17:35,600 authority is hereby delegated to CEO and CFO 364 00:17:35,640 --> 00:17:37,880 in concert with legal and compliance, 365 00:17:37,960 --> 00:17:39,760 to structure any transaction and return 366 00:17:39,840 --> 00:17:41,360 to the board with final terms. 367 00:17:42,240 --> 00:17:43,280 All against? 368 00:17:47,080 --> 00:17:49,800 I think it's high time the men leading this company 369 00:17:49,880 --> 00:17:52,640 stopped sidestepping substantive questions. 370 00:17:52,720 --> 00:17:54,120 Cool. All in favor? 371 00:18:06,920 --> 00:18:07,920 Thank you, everyone. 372 00:18:09,120 --> 00:18:10,600 This resolution is adopted. 373 00:18:16,600 --> 00:18:18,960 ♪ (TENSE MUSIC PLAYING) ♪ 374 00:18:21,520 --> 00:18:23,840 Do you ever let go of that crutch? 375 00:18:23,880 --> 00:18:25,880 My only vice. Well, one of them. 376 00:18:27,080 --> 00:18:29,360 If you ever see me without it, you can assume I'm dead. 377 00:18:32,120 --> 00:18:34,400 Yasmin suggested to me... 378 00:18:36,800 --> 00:18:41,400 that you may have, uh, compromising recordings of us. 379 00:18:42,920 --> 00:18:44,480 Explicit recordings. 380 00:18:45,760 --> 00:18:47,080 Of you and who? 381 00:18:48,440 --> 00:18:49,480 Do you? 382 00:18:50,560 --> 00:18:52,880 What do you think? (CLEARS THROAT) 383 00:18:53,840 --> 00:18:55,360 You think I'm capable of that? 384 00:18:57,200 --> 00:18:59,920 Yeah. Yeah, I do. 385 00:19:00,000 --> 00:19:01,800 Then you've answered your own question. 386 00:19:06,200 --> 00:19:07,240 (CELL PHONE BUZZING) 387 00:19:07,320 --> 00:19:08,680 (WILHELMINA FASSBINDER SPITS) 388 00:19:10,280 --> 00:19:11,440 Yeah? 389 00:19:11,520 --> 00:19:13,520 Wilhelmina, we're on our way to see you. 390 00:19:13,600 --> 00:19:16,480 I'm warning you, I am getting a huge amount of blowback 391 00:19:16,560 --> 00:19:19,280 about the Tender headlines as we prep for tomorrow's AGM. 392 00:19:19,360 --> 00:19:21,760 There's rumors of an Al-Mi'raj term sheet floating around. 393 00:19:21,840 --> 00:19:23,280 Word is you're being sold. 394 00:19:23,360 --> 00:19:26,360 Clean structure. Laughable leverage ratio. 395 00:19:26,440 --> 00:19:30,760 That is not entirely inaccurate. 396 00:19:30,840 --> 00:19:32,680 WHITNEY: What are they pricing you at? 397 00:19:32,760 --> 00:19:36,920 1.2 times book and a 90-day clawback window? 398 00:19:37,000 --> 00:19:40,360 WILHELMINA: You're not far off. They're pricing us to go. 399 00:19:40,440 --> 00:19:43,480 WHITNEY: Well, uh, let's speed it along for you. 400 00:19:46,240 --> 00:19:47,600 Henry has something to say. 401 00:19:58,560 --> 00:20:00,520 Al-Mi'raj never loved you 402 00:20:00,600 --> 00:20:03,440 and had no idea what to do with you. 403 00:20:06,960 --> 00:20:09,680 We could be a transatlantic giant. 404 00:20:09,720 --> 00:20:12,200 WILHELMINA: You're not buying a fucking lollipop, for Christ's sakes. 405 00:20:12,280 --> 00:20:16,240 There's stakeholder optics, governance, a process. 406 00:20:16,320 --> 00:20:19,640 -Then give the floor to me. -WILHELMINA: Well, how do you mean? At the AGM? 407 00:20:19,720 --> 00:20:21,480 No. You have no formal standing. 408 00:20:21,560 --> 00:20:23,600 You have the power to cede the floor to me 409 00:20:23,680 --> 00:20:24,720 under special motions. 410 00:20:24,800 --> 00:20:26,440 You're not a stakeholder of record. 411 00:20:26,520 --> 00:20:28,720 Well, it should be known that we're holding Pierpoint stock 412 00:20:28,800 --> 00:20:30,120 under a number of nominee structures. 413 00:20:30,200 --> 00:20:31,520 And we're an important strategic partner. 414 00:20:31,600 --> 00:20:33,400 I don't have to be noisy about price suppression, 415 00:20:33,480 --> 00:20:36,560 or, God forbid, talk about the undeclared sovereign wealth 416 00:20:36,640 --> 00:20:37,840 in your recap structure. 417 00:20:38,840 --> 00:20:40,360 What? That doesn't exist? 418 00:20:40,440 --> 00:20:43,240 Well, me saying it is almost as bad as it existing. 419 00:20:43,320 --> 00:20:46,120 Or I could leak my counter-valuation 420 00:20:46,200 --> 00:20:49,440 to the press, or worse, say that, um, 421 00:20:49,520 --> 00:20:52,000 Al-Mi'raj is a distressed seller in no position 422 00:20:52,080 --> 00:20:54,160 to make a strategic exit. 423 00:20:54,240 --> 00:20:56,400 I'll tie cinder blocks to the Pierpoint price 424 00:20:56,440 --> 00:20:58,560 and throw it in the Hudson. 425 00:21:00,160 --> 00:21:02,280 Yeah, point made. 426 00:21:02,360 --> 00:21:05,680 You wanna use our AGM to declare a hostile takeover? 427 00:21:05,760 --> 00:21:07,680 WHITNEY: A hostile without hostility. 428 00:21:07,760 --> 00:21:09,520 I wanna offer a premium. 429 00:21:11,240 --> 00:21:12,880 Al-Mi'raj wants out. 430 00:21:12,960 --> 00:21:14,760 Let's give them an above-market print. 431 00:21:14,840 --> 00:21:16,640 I'll get you a clean, attractive exit. 432 00:21:18,920 --> 00:21:22,160 And a halo for everybody's fucking news cycle. 433 00:21:22,200 --> 00:21:24,360 Look for two smiles in the crowd. 434 00:21:27,080 --> 00:21:29,280 PILOT: (OVER PA) Making our final approach to Newark shortly. 435 00:21:29,360 --> 00:21:31,360 ♪ (MUSIC CONTINUES) ♪ 436 00:21:37,800 --> 00:21:39,600 -♪ (MUSIC FADES) ♪ -(INDISTINCT CHATTER) 437 00:21:39,680 --> 00:21:42,120 Sorry about how we covered your old man. 438 00:21:42,200 --> 00:21:44,000 Ghastly stuff you went through. 439 00:21:44,080 --> 00:21:46,200 Don't worry. He was a bastard. 440 00:21:46,280 --> 00:21:49,120 KEVIN RAWLE: (LAUGHS) Well, that was the angle that sold, yeah. 441 00:21:49,160 --> 00:21:51,800 YASMIN: Hi. I need to run and grab Jen. 442 00:21:51,880 --> 00:21:54,120 EMPLOYEE: (IN DISTANCE) She thinks Princess Di was killed by the SAS. 443 00:21:54,200 --> 00:21:55,280 Take a seat, Jenni. 444 00:21:55,960 --> 00:21:57,280 ♪ (TENSE MUSIC PLAYING) ♪ 445 00:21:57,360 --> 00:21:58,960 We know it all must feel like it's sort of 446 00:21:59,040 --> 00:22:00,280 getting on top of you. 447 00:22:00,360 --> 00:22:02,400 But don't worry, you're with friends. 448 00:22:02,480 --> 00:22:03,800 You know, we have a roadmap. 449 00:22:03,840 --> 00:22:05,160 No one's gonna ask you to do anything. 450 00:22:05,200 --> 00:22:07,240 You can just sit there and listen. 451 00:22:07,320 --> 00:22:09,880 You don't need me to tell you how radioactive this is 452 00:22:09,960 --> 00:22:11,000 for the government. 453 00:22:12,560 --> 00:22:14,120 Someone's going down for it. 454 00:22:14,200 --> 00:22:16,480 YASMIN: And Lisa is already feathering her nest. 455 00:22:16,560 --> 00:22:17,920 What have you heard? 456 00:22:18,000 --> 00:22:22,320 You don't get to her position by acting impractically. 457 00:22:22,360 --> 00:22:23,960 I mean, she's positioning herself 458 00:22:24,040 --> 00:22:26,160 to come out of this as the adult in the room. 459 00:22:27,480 --> 00:22:32,480 (SIGHS) Jenni, did you ever raise any red flags 460 00:22:32,560 --> 00:22:34,280 about Tender? 461 00:22:34,360 --> 00:22:38,560 Did you feel stonewalled by top-down expectations? 462 00:22:38,600 --> 00:22:42,320 I haven't had a chance to reckon with any sort of hindsight. 463 00:22:42,400 --> 00:22:43,400 Um... 464 00:22:44,440 --> 00:22:47,680 Pressure to help party leadership. 465 00:22:48,880 --> 00:22:50,320 But Lisa was always the cautious one. 466 00:22:50,400 --> 00:22:53,160 Yeah, see, I'd cut that. (LAUGHS) 467 00:22:53,240 --> 00:22:55,120 The messaging's pretty simple. 468 00:22:55,200 --> 00:22:57,560 You were a young, dissenting voice 469 00:22:57,640 --> 00:23:01,560 overruled by grim, old bureaucrats. 470 00:23:01,600 --> 00:23:03,560 Your warnings were ignored. 471 00:23:03,640 --> 00:23:07,640 You know, you were principled, youthful, uncontaminated. 472 00:23:07,720 --> 00:23:10,200 But you know how much of this I was driving. 473 00:23:10,280 --> 00:23:12,640 I mean, I was a guest at a private residence 474 00:23:12,720 --> 00:23:14,520 for fuck's sake. I am the tainted one. 475 00:23:14,600 --> 00:23:15,720 But nobody knows that. 476 00:23:17,440 --> 00:23:18,960 I'm not gonna tell anyone. 477 00:23:19,040 --> 00:23:21,680 If that's true, why'd you even need me? 478 00:23:21,760 --> 00:23:23,480 The solution's pretty fucking clear. 479 00:23:23,560 --> 00:23:27,280 If this goes front-page, the company is finished. 480 00:23:27,360 --> 00:23:29,120 I have deniability. 481 00:23:29,200 --> 00:23:31,680 I was just one of thousands of global employees. 482 00:23:41,760 --> 00:23:44,000 -What would you need? -KEVIN: Anything. 483 00:23:44,040 --> 00:23:48,640 Memos, minutes, documents that can overstate the case 484 00:23:48,720 --> 00:23:50,480 for Lisa's proximity to Tender 485 00:23:50,560 --> 00:23:53,600 and communicate her passion for it to succeed at any cost. 486 00:23:55,800 --> 00:23:56,920 Lies. 487 00:23:57,680 --> 00:23:58,920 Points of emphasis. 488 00:24:12,360 --> 00:24:17,640 Journalism shouldn't be about myth-making 489 00:24:17,720 --> 00:24:20,920 for an aristocratic class. I... I-- I can't. 490 00:24:21,760 --> 00:24:24,480 Lisa brought me into government. 491 00:24:24,560 --> 00:24:26,720 I wasn't even gonna run, but she... 492 00:24:26,800 --> 00:24:29,680 she lobbied the National Executive Committee. 493 00:24:29,760 --> 00:24:31,880 She pushed for the safe seat. 494 00:24:31,960 --> 00:24:34,400 What were you hoping would happen in here exactly? 495 00:24:34,480 --> 00:24:37,840 No, no, but when it's laid out like this, so brazen, I... 496 00:24:37,920 --> 00:24:40,600 I can't do that to her. Look, this... 497 00:24:40,680 --> 00:24:43,200 this entire conversation is off the record, all right? 498 00:24:44,240 --> 00:24:45,360 -All right? -Naturally. 499 00:24:51,600 --> 00:24:53,120 We appreciate your... 500 00:24:54,440 --> 00:24:55,520 principles. 501 00:24:58,840 --> 00:25:01,160 KEVIN: Honestly, these women are hilarious. 502 00:25:01,240 --> 00:25:03,080 How do they think this ends? 503 00:25:03,120 --> 00:25:04,760 ALEXANDER NORTON: If Bevan's not gonna play ball, 504 00:25:04,840 --> 00:25:05,920 we need to figure out another way 505 00:25:06,000 --> 00:25:07,680 to stick this on Dearn. 506 00:25:07,760 --> 00:25:10,160 Well, what if we picked it up from another source? 507 00:25:10,240 --> 00:25:12,880 I mean, surely then we avoid direct liability 508 00:25:12,960 --> 00:25:15,560 for sourcing and verifying a leak. 509 00:25:15,640 --> 00:25:17,640 If there is a leak, 510 00:25:17,720 --> 00:25:21,400 a memo, pick it up and make it pop. 511 00:25:21,480 --> 00:25:24,200 Smart. Can say we're reporting public domain, 512 00:25:24,240 --> 00:25:26,200 less risk of defamation claim. 513 00:25:26,280 --> 00:25:29,040 Ideally, it would be an investigative outlet. 514 00:25:29,120 --> 00:25:32,000 Add a veneer of credibility. By the time we publish, 515 00:25:32,040 --> 00:25:34,040 Westminster would be aflame with the early report 516 00:25:34,120 --> 00:25:35,920 and we can confirm it as a coup de grâce. 517 00:25:36,000 --> 00:25:38,920 These amateurs wanna test the media food chain? 518 00:25:39,000 --> 00:25:40,760 YASMIN: (SCOFFS) Maybe the front page 519 00:25:40,840 --> 00:25:44,480 of a red-top can still turn a minor outlet's work 520 00:25:44,520 --> 00:25:47,280 into a fully fledged fucking career ender. 521 00:25:50,720 --> 00:25:52,280 Don't sound so excited. 522 00:25:52,360 --> 00:25:54,960 (CHUCKLES) Just leave it with me. 523 00:25:56,640 --> 00:25:58,000 Great to meet you, Kevin. 524 00:26:01,320 --> 00:26:03,680 Hard fucking bird. (CHUCKLES) 525 00:26:06,800 --> 00:26:08,040 (KNOCKING ON DOOR) 526 00:26:10,040 --> 00:26:12,080 ♪ (MUSIC FADING) ♪ 527 00:26:13,440 --> 00:26:14,560 Happy to see me? 528 00:26:15,560 --> 00:26:16,960 Or is that impossible now? 529 00:26:17,040 --> 00:26:19,120 I'm actually a little more than surprised. 530 00:26:26,600 --> 00:26:29,200 So, this is the nerve center. 531 00:26:29,800 --> 00:26:31,240 HARPER: Hmm. 532 00:26:31,320 --> 00:26:34,240 -Where is everyone? -It's just me this afternoon. 533 00:26:37,040 --> 00:26:38,200 Lonely? 534 00:26:39,720 --> 00:26:40,840 Always. 535 00:26:49,600 --> 00:26:51,680 How have you two not killed each other yet? 536 00:26:51,720 --> 00:26:52,960 HARPER: He exited the fund. 537 00:26:53,880 --> 00:26:55,800 Maybe we finally did. Coffee? 538 00:26:59,160 --> 00:27:00,320 -Thank you. -Mm-hmm. 539 00:27:03,880 --> 00:27:06,720 So, um, I have it on good authority 540 00:27:06,800 --> 00:27:08,720 that Dearn and Bevan 541 00:27:08,800 --> 00:27:10,760 have been in the Norton offices all morning... 542 00:27:10,840 --> 00:27:13,840 -(CHUCKLES) -...trying to save face and torch the other. 543 00:27:13,920 --> 00:27:15,840 The cover-up is on, huh? 544 00:27:15,880 --> 00:27:17,800 YASMIN: Yeah, the whole thing stinks. 545 00:27:17,880 --> 00:27:20,800 I can personally verify that government officials 546 00:27:20,880 --> 00:27:23,120 were far too close to Tender management. 547 00:27:24,280 --> 00:27:25,200 I mean, the pressure. 548 00:27:25,280 --> 00:27:27,280 They wanted everything done yesterday. 549 00:27:27,360 --> 00:27:30,040 I remember Dearn introducing Henry at WebHorizon. 550 00:27:30,120 --> 00:27:33,240 Wasn't Bevan at Henry's 40th, or am I misremembering? 551 00:27:33,320 --> 00:27:35,040 Yep. At Dearn's request. 552 00:27:35,120 --> 00:27:36,960 But it goes far deeper than that. 553 00:27:37,880 --> 00:27:40,160 I mean, Dearn was always in our offices. 554 00:27:40,240 --> 00:27:41,920 You know, the whole cabinet saw her 555 00:27:42,000 --> 00:27:45,280 as an anti-business trade union lover. 556 00:27:45,360 --> 00:27:47,960 She wanted to use Tender as an antidote to that. 557 00:27:48,040 --> 00:27:49,880 A trophy. 558 00:27:49,920 --> 00:27:52,600 Maybe Dycker missed a big piece of the story. 559 00:27:52,680 --> 00:27:54,480 No, I think this is the story. 560 00:27:59,800 --> 00:28:01,760 And then there was the memo. 561 00:28:01,840 --> 00:28:04,880 ♪ (INTRIGUING MUSIC PLAYING) ♪ 562 00:28:06,280 --> 00:28:07,360 What memo? 563 00:28:08,560 --> 00:28:11,080 Bevan says that Dearn told her department 564 00:28:11,160 --> 00:28:12,600 to bury a briefing note. 565 00:28:13,480 --> 00:28:15,320 Tender represents a risk 566 00:28:15,400 --> 00:28:17,560 to UK regulatory credibility type of thing, 567 00:28:17,640 --> 00:28:20,120 and it was suppressed at a ministerial level. 568 00:28:21,880 --> 00:28:24,680 FCA, PRA, National Audit Office? 569 00:28:24,720 --> 00:28:26,400 Um, well, I don't know. (CHUCKLES) 570 00:28:26,480 --> 00:28:28,160 Like I said, I didn't see it. 571 00:28:28,240 --> 00:28:30,000 Uh, this is just what I was told. 572 00:28:34,560 --> 00:28:37,000 Wow. You'd bet a political firestorm 573 00:28:37,080 --> 00:28:38,920 would speed the end of the company. 574 00:28:41,000 --> 00:28:43,040 Your job to bet, not mine. 575 00:28:46,320 --> 00:28:49,920 Questions in Parliament, public inquiry, 576 00:28:50,000 --> 00:28:52,400 independent audit of the government's interactions 577 00:28:52,480 --> 00:28:53,400 with the company. 578 00:28:53,480 --> 00:28:56,000 Maybe a government-mandated audit into Tender. 579 00:28:56,080 --> 00:28:57,640 ♪ (SUPENSEFUL MUSIC PLAYING) ♪ 580 00:28:58,960 --> 00:29:00,720 Don't fuck me around, Yas. Come on. 581 00:29:01,880 --> 00:29:03,440 Be blunt. What are you asking me to do? 582 00:29:06,520 --> 00:29:07,760 I'm working on my own... 583 00:29:09,240 --> 00:29:10,240 escape. 584 00:29:11,680 --> 00:29:13,760 I'm managing the timing of my resignation 585 00:29:13,840 --> 00:29:16,600 and also steering people to know that I was a constant, 586 00:29:16,680 --> 00:29:19,400 lone, dissenting voice in the company. 587 00:29:19,480 --> 00:29:20,880 You weren't though, right? 588 00:29:23,720 --> 00:29:25,200 What difference does it make? 589 00:29:28,600 --> 00:29:30,760 Our interests finally align. 590 00:29:33,480 --> 00:29:35,600 Get this in front of someone willing to write about it. 591 00:29:37,560 --> 00:29:39,520 The share price isn't gonna tank itself. 592 00:29:42,560 --> 00:29:43,680 Help me help you. 593 00:29:45,480 --> 00:29:47,080 ♪ (MUSIC FADES) ♪ 594 00:29:49,280 --> 00:29:51,040 EDWARD BURGESS: The wake was a riot 595 00:29:51,120 --> 00:29:54,200 with a beautiful eulogy from his mother. 596 00:29:55,720 --> 00:29:58,160 Jim was very honest in his dealings with me. 597 00:29:58,240 --> 00:29:59,440 Trust me, I tested him. 598 00:29:59,520 --> 00:30:03,600 There was no personal financial angle at all. 599 00:30:07,080 --> 00:30:08,120 I, uh... 600 00:30:09,440 --> 00:30:11,600 I heard from someone that warnings were made 601 00:30:11,680 --> 00:30:14,000 and ignored about Tender, 602 00:30:14,080 --> 00:30:17,360 that Labour's business department are now at war, 603 00:30:17,400 --> 00:30:18,480 passing the buck. 604 00:30:19,040 --> 00:30:20,640 Well, your, um, 605 00:30:20,720 --> 00:30:23,200 Sweetpea Golightly got quite close 606 00:30:23,280 --> 00:30:26,360 to bringing us an insider, or so she made it seem. 607 00:30:27,400 --> 00:30:30,640 You should probably all leave journalism 608 00:30:30,720 --> 00:30:32,280 -to the journalists. -(CHUCKLES) 609 00:30:33,200 --> 00:30:35,920 Look, there's talk of memos. 610 00:30:36,000 --> 00:30:40,240 A top-down culture of "act now, questions later." 611 00:30:40,320 --> 00:30:42,320 Yasmin Muck, who ran their comms, 612 00:30:42,360 --> 00:30:45,800 repeatedly raised concerns, again, on Deaf ears. 613 00:30:46,680 --> 00:30:48,360 Do you have access to these memos? 614 00:30:48,440 --> 00:30:51,320 (SIGHS) No. No, I'm told they exist. 615 00:30:52,240 --> 00:30:56,000 (SCOFFS) What do you want me to do then? 616 00:30:56,080 --> 00:30:59,600 Frame the article as a question. Don't name me. 617 00:30:59,680 --> 00:31:02,760 Call me an insider, a market source, whatever. 618 00:31:04,240 --> 00:31:05,560 No one else has this. 619 00:31:06,920 --> 00:31:08,720 You can be cautious in your wording, 620 00:31:08,800 --> 00:31:10,600 but any question is provocation. 621 00:31:11,600 --> 00:31:13,840 The public's money is tied up in this. 622 00:31:13,920 --> 00:31:17,080 ♪ (SUSPENSEFUL MUSIC PLAYING) ♪ 623 00:31:17,120 --> 00:31:19,200 You know, your face does this amazing thing 624 00:31:19,280 --> 00:31:21,520 when your concerns become moral. 625 00:31:21,560 --> 00:31:24,560 Your eyes soften like you're trying 626 00:31:24,600 --> 00:31:25,720 to trick your physiognomy 627 00:31:25,760 --> 00:31:27,440 into telling yourself you actually care 628 00:31:27,520 --> 00:31:28,600 about this shit. 629 00:31:31,360 --> 00:31:33,280 HARPER: I'm tipping you off on a huge story. 630 00:31:33,360 --> 00:31:35,320 Has that been lost in the wash? 631 00:31:35,400 --> 00:31:38,080 Make some calls. Whitehall, the regulators. 632 00:31:38,840 --> 00:31:40,520 Build it out. That's not my job. 633 00:31:42,640 --> 00:31:44,400 Good opportunity for you to carry Jim's torch. 634 00:31:44,480 --> 00:31:48,520 Don't do that. Jesus Christ, let's-- let's all agree 635 00:31:48,600 --> 00:31:51,240 that that, that there is fucking grotesque. 636 00:31:51,320 --> 00:31:54,160 (SNIFFS) 637 00:31:56,040 --> 00:31:58,440 It's like the saddest fucking thing in the world. 638 00:31:59,800 --> 00:32:00,840 What's that? 639 00:32:03,040 --> 00:32:05,520 -Unfulfilled potential. -♪ (MUSIC SWELLS) ♪ 640 00:32:11,640 --> 00:32:14,640 -(METRO CARRIAGE RATTLING) -(HORN BLARING) 641 00:32:15,720 --> 00:32:18,880 -(TRAFFIC RUMBLING) -(DISTANT THUD) 642 00:32:24,840 --> 00:32:26,080 (BAG UNZIPPING) 643 00:32:47,920 --> 00:32:49,680 MAN: Not a fucking word. 644 00:32:50,160 --> 00:32:51,400 (DOOR CLOSING) 645 00:32:56,520 --> 00:32:58,840 WHITNEY: All right, all right, all right. Okay. 646 00:33:04,200 --> 00:33:05,280 (DOOR CLOSING) 647 00:33:10,760 --> 00:33:12,920 (DIAL TONE RINGING) 648 00:33:14,160 --> 00:33:15,280 WHITNEY: You've reached Halberstram. 649 00:33:15,360 --> 00:33:16,880 -Leave a message. -(DIAL TONE BEEPS) 650 00:33:22,680 --> 00:33:24,600 -(DOOR CLOSING) -(BAG THUDS) 651 00:33:29,680 --> 00:33:30,840 (SIGHS, MUTTERS) Oh, fuck. 652 00:33:34,960 --> 00:33:38,200 I was meticulous at every stage, how could you possibly know? 653 00:33:38,280 --> 00:33:39,560 Your dead-drop phone. 654 00:33:42,520 --> 00:33:44,800 The identical model to the one you often stare at. 655 00:33:44,880 --> 00:33:45,880 (GROANS) 656 00:33:45,960 --> 00:33:47,520 FERDINAND SCHARZWALD: The one you rarely turn on. 657 00:33:47,600 --> 00:33:48,800 The one you take the SIM out of. 658 00:33:48,880 --> 00:33:50,720 Powered it on when you landed and autoconnected 659 00:33:50,800 --> 00:33:53,200 -to the airport Wi-Fi. -(RAPID THUDS) 660 00:33:53,280 --> 00:33:55,360 Fuck! Fuck! 661 00:33:55,440 --> 00:33:58,720 FERDINAND: That airport is a surveillance choke point. 662 00:33:58,800 --> 00:34:00,960 The calls to your fixer and the subsequent ability 663 00:34:01,040 --> 00:34:04,120 to map the flow of cash exchange around the calls. 664 00:34:04,200 --> 00:34:06,800 First payment of 120,000 dollars 665 00:34:06,880 --> 00:34:10,080 to Sunpath Living Residential Solutions, 666 00:34:10,159 --> 00:34:13,480 a jouhatsu disappearing company in Saitama Prefecture. 667 00:34:13,560 --> 00:34:16,600 DEZ WATKINS: These night-moving companies aren't the real deal. 668 00:34:16,639 --> 00:34:18,199 It's like witness protection. 669 00:34:18,280 --> 00:34:21,120 Someone wants to find you, they'll find you. 670 00:34:21,199 --> 00:34:23,040 Please, please, just let me catch my flight 671 00:34:23,080 --> 00:34:24,520 and disappear. You won't hear from me again. 672 00:34:24,600 --> 00:34:25,679 It is not an option. 673 00:34:27,400 --> 00:34:28,480 While Tender has a pulse, 674 00:34:28,560 --> 00:34:30,840 it remains a very useful data set. 675 00:34:32,840 --> 00:34:33,920 So what? If... 676 00:34:35,120 --> 00:34:36,480 it dies, I go with it? 677 00:34:37,320 --> 00:34:38,679 FERDINAND: On the contrary. 678 00:34:39,639 --> 00:34:41,360 You stick around and face the consequences 679 00:34:41,440 --> 00:34:44,040 of your actions without implicating me. 680 00:34:45,159 --> 00:34:46,560 Us. 681 00:34:46,639 --> 00:34:49,840 -(GRUNTS) -Escape is a fantasy. 682 00:34:49,920 --> 00:34:52,199 You're only hearing this because they want you to. 683 00:34:52,239 --> 00:34:54,600 You no longer exist outside their tolerance. 684 00:34:55,920 --> 00:34:57,040 (ARM THUDS) 685 00:34:57,920 --> 00:34:58,960 (SIGHS) 686 00:35:00,880 --> 00:35:02,080 And the journalist? 687 00:35:03,440 --> 00:35:04,440 Dycker? 688 00:35:06,440 --> 00:35:07,520 Did you, uh... 689 00:35:08,760 --> 00:35:11,080 finish him, too? 690 00:35:11,120 --> 00:35:14,800 FERNDINDAND: You learn very fast that compliance is the only logical path. 691 00:35:15,760 --> 00:35:16,880 Continue onto the AGM 692 00:35:16,960 --> 00:35:19,360 and everything can be compartmentalized. 693 00:35:19,440 --> 00:35:22,480 Tender buying Pierpoint opens up an entirely new data set. 694 00:35:23,600 --> 00:35:24,680 Tender's the future. 695 00:35:25,680 --> 00:35:27,880 -♪ (OMINOUS MUSIC PLAYING) ♪ -Tender's real. 696 00:35:28,960 --> 00:35:30,320 Tender's beautiful. 697 00:35:32,240 --> 00:35:33,840 Just act like the great lie of your life 698 00:35:33,920 --> 00:35:36,560 is not that different from its only truth. 699 00:35:36,640 --> 00:35:38,680 You're world-class at this performance. 700 00:35:41,040 --> 00:35:43,920 I'll find the version of you that fucking remembers that. 701 00:35:44,720 --> 00:35:46,000 (BAD THUDS) 702 00:35:47,120 --> 00:35:49,400 Go on. Off you fuck. 703 00:35:50,400 --> 00:35:53,400 ♪ (MUSIC SWELLING) ♪ 704 00:35:58,720 --> 00:36:01,640 -♪ (MUSIC CALMS) ♪ -(CAR ENGINE STARTING) 705 00:36:08,840 --> 00:36:10,600 HENRY: (WHISPERING) Why didn't you answer your phone? 706 00:36:10,680 --> 00:36:13,000 -Go to sleep. -Who the fuck was that? 707 00:36:13,080 --> 00:36:14,240 WHITNEY: Someone I owe money to. 708 00:36:14,720 --> 00:36:15,680 Fucking who? 709 00:36:15,720 --> 00:36:17,400 WHITNEY: Just a guy I see when I'm here, okay? 710 00:36:17,480 --> 00:36:19,800 -What guy? -WHITNEY: Just a fucking guy. 711 00:36:22,160 --> 00:36:23,680 What? You never fucking paid for it? 712 00:36:23,760 --> 00:36:24,880 Go to sleep. 713 00:36:26,480 --> 00:36:27,560 (DOOR CLOSING) 714 00:36:29,560 --> 00:36:31,800 -♪ (MUSIC FADES) ♪ -(BIRDS SQUAWKING) 715 00:36:36,480 --> 00:36:41,120 Did you see the story that ran on FinDigest overnight? 716 00:36:41,200 --> 00:36:44,520 FinDigest? It's a digital fucking pamphlet. 717 00:36:44,600 --> 00:36:47,680 Proper drilled into your department's coziness 718 00:36:47,760 --> 00:36:49,320 with Tender C-Suite. 719 00:36:49,400 --> 00:36:51,560 I got a pre-publication notice 720 00:36:51,640 --> 00:36:53,080 from the tabloids on the back of it. 721 00:36:53,120 --> 00:36:58,240 They picked it up and now Norton wants to position you 722 00:36:58,320 --> 00:37:00,600 as Tender's chief governmental architect. 723 00:37:02,800 --> 00:37:04,280 (FOLDER THUDS) 724 00:37:04,360 --> 00:37:06,640 Not much spin we can put on your dozen 725 00:37:06,720 --> 00:37:09,840 or so Tender office visits, your introduction 726 00:37:09,880 --> 00:37:12,480 of Henry to WebHorizon, or your photo op with him. 727 00:37:12,560 --> 00:37:14,600 What about their reporting 728 00:37:14,680 --> 00:37:17,280 of a suppressed Internal Risk Assessment 729 00:37:17,360 --> 00:37:20,000 warning against Tender's rollout in the UK? 730 00:37:20,080 --> 00:37:22,320 You know this is prefaced by "sources claim" 731 00:37:22,400 --> 00:37:24,560 because it doesn't fucking exist. 732 00:37:24,640 --> 00:37:25,880 RICKY: Your initials 733 00:37:25,920 --> 00:37:28,680 are on the provisional authorization merger 734 00:37:28,760 --> 00:37:31,160 and the granting of Tender's UK banking license 735 00:37:31,240 --> 00:37:32,560 that followed hard behind it. 736 00:37:32,640 --> 00:37:34,760 And what else do those minutes show? 737 00:37:34,840 --> 00:37:36,840 The moment you walked into that meeting 738 00:37:36,920 --> 00:37:39,000 endorsing the PM's wishes, it became a done deal. 739 00:37:39,080 --> 00:37:40,160 Funnily enough, Norton 740 00:37:40,240 --> 00:37:42,520 and his bullshit complex didn't mention that. 741 00:37:42,600 --> 00:37:44,840 Who else? Which regulators didn't you hit? 742 00:37:44,920 --> 00:37:47,280 How many red flags did you torch before those cowards 743 00:37:47,360 --> 00:37:49,640 -could run them up the flagpole? -Wow. 744 00:37:50,680 --> 00:37:52,560 Does sounding off make you feel better? 745 00:37:52,640 --> 00:37:54,040 ♪ (INTENSE MUSIC PLAYING) ♪ 746 00:37:54,120 --> 00:37:55,400 LISA: (SIGHING) Right. 747 00:37:57,240 --> 00:38:00,400 “Acquit yourself of your charge, for I have long been prepared.” 748 00:38:01,120 --> 00:38:02,600 RICKY: Excuse me? 749 00:38:02,680 --> 00:38:04,280 It's what Anne Boleyn said 750 00:38:04,360 --> 00:38:06,800 before the blade kissed her pretty White neck. 751 00:38:06,880 --> 00:38:08,120 (CHUCKLES) 752 00:38:08,200 --> 00:38:10,280 LISA: It means get the fuck on with it. 753 00:38:10,360 --> 00:38:13,520 I accept ministerial responsibility 754 00:38:13,600 --> 00:38:17,920 and I will weigh resignation as a point of principle. Okay? 755 00:38:19,320 --> 00:38:21,000 RICKY: Like fuck you will. 756 00:38:22,480 --> 00:38:25,480 The PM's expecting your resignation letter 757 00:38:25,560 --> 00:38:27,880 on his desk before the story runs. 758 00:38:30,360 --> 00:38:33,000 Short and sweet, to his point. 759 00:38:34,040 --> 00:38:36,120 You're always too romantic, Lisa. 760 00:38:38,000 --> 00:38:39,600 You mean Secretary of State? 761 00:38:41,280 --> 00:38:42,960 No, I don't. 762 00:38:43,000 --> 00:38:44,880 ♪ (DRAMATIC MUSIC PLAYING) ♪ 763 00:38:45,480 --> 00:38:46,840 (CHUCKLES) 764 00:38:51,840 --> 00:38:53,040 (DOOR CLOSING) 765 00:38:55,680 --> 00:38:58,480 -(GRUNTS, SIGHS) -(BOX THUDS) 766 00:38:58,560 --> 00:39:00,560 We remain well capitalized 767 00:39:00,640 --> 00:39:03,120 with a core Tier 1 capital ratio of... 768 00:39:03,160 --> 00:39:05,240 (WHISPERS) What's wrong with you? You look terrible. 769 00:39:06,320 --> 00:39:07,440 I'm not feeling myself. 770 00:39:07,520 --> 00:39:08,840 WILHELMINA: Now, as ever, 771 00:39:08,920 --> 00:39:10,880 -I would like to close my remarks... -I don't think I can do this. 772 00:39:10,960 --> 00:39:12,720 -...by saying that... -Yeah, well, you have to. 773 00:39:12,760 --> 00:39:14,360 ...we at Al-Mi'raj Pierpoint pride ourselves 774 00:39:14,440 --> 00:39:16,960 -on our proximity to regulators. -I can't. 775 00:39:17,000 --> 00:39:18,640 WILHELMINA: That said, unless anyone has 776 00:39:18,720 --> 00:39:20,640 -anything they wish to add... -You need to fucking perform. 777 00:39:20,720 --> 00:39:21,760 ...ladies, gentlemen. 778 00:39:21,840 --> 00:39:25,040 At this point, I'd like to open the floor to questions. 779 00:39:25,120 --> 00:39:28,120 -HENRY: Whitney, look at me. -WILHELMINA: Okay, quite a few. 780 00:39:30,000 --> 00:39:32,480 Do the fucking thing you do. 781 00:39:32,560 --> 00:39:35,560 ♪ (TENSE MUSIC PLAYING) ♪ 782 00:39:41,560 --> 00:39:45,880 Yes, I would like to start with Mr. Halberstram 783 00:39:45,960 --> 00:39:47,960 whose courage-under-fire leadership 784 00:39:48,040 --> 00:39:51,600 of our strategic partner, Tender, has not gone unnoticed. 785 00:39:51,640 --> 00:39:53,640 Whitney, you wanna kick us off? 786 00:39:53,720 --> 00:39:56,400 Any operational insights you'd like to share? 787 00:39:59,000 --> 00:40:02,040 WHITNEY: I, uh... (CLEARS THROAT) 788 00:40:03,400 --> 00:40:06,480 ...speak on behalf of myself and our CEO, Henry Muck. 789 00:40:09,200 --> 00:40:11,760 It's a privilege to be with you all this afternoon. 790 00:40:14,520 --> 00:40:16,320 This is a homecoming for me. 791 00:40:17,400 --> 00:40:18,800 ♪ (MUSIC CONCLUDES) ♪ 792 00:40:18,880 --> 00:40:21,120 We'd like it to be one for Tender too. 793 00:40:29,360 --> 00:40:30,800 I don't have a question. 794 00:40:40,040 --> 00:40:41,840 I have an offer. 795 00:40:41,920 --> 00:40:44,440 ♪ ("HEROES" BY BIG BEN TRIBE PLAYING) ♪ 796 00:40:45,400 --> 00:40:47,960 We don't see it as discretionary. 797 00:40:53,280 --> 00:40:54,400 It's deterministic. 798 00:40:58,800 --> 00:41:01,840 We wanna be US dollar natives again. 799 00:41:01,920 --> 00:41:06,440 Our offer for Pierpoint is 1.9 times book. 800 00:41:06,520 --> 00:41:09,600 Peers trade closer to 1.3 times, so why the hell the premium? 801 00:41:13,360 --> 00:41:15,600 It is a display of faith 802 00:41:15,680 --> 00:41:17,720 in what we believe this union to be. 803 00:41:21,200 --> 00:41:23,480 A marriage of balance sheets, 804 00:41:24,760 --> 00:41:27,560 of regulatory infrastructure, trust. 805 00:41:29,520 --> 00:41:31,440 The offer is 90 percent stock. 806 00:41:31,520 --> 00:41:34,600 Your stock is too volatile. 807 00:41:34,680 --> 00:41:37,520 This man should not be heard. He isn't serious. 808 00:41:37,600 --> 00:41:39,840 Your company is falling apart. 809 00:41:39,920 --> 00:41:43,480 Fake news. Detractors have been at our door since jump 810 00:41:43,560 --> 00:41:46,640 from being too early, too fast, too big. 811 00:41:48,080 --> 00:41:49,520 Railroad to the internet, 812 00:41:49,600 --> 00:41:51,920 the history of industry in this country 813 00:41:52,000 --> 00:41:55,400 is pockmarked by a slew of disinformation 814 00:41:55,480 --> 00:41:57,040 from those who don't stand to benefit 815 00:41:57,120 --> 00:41:59,680 from radical thought or the displacement 816 00:41:59,760 --> 00:42:01,520 of worn-out structures. 817 00:42:01,600 --> 00:42:02,680 More bullshit. 818 00:42:05,200 --> 00:42:07,120 Mr. Halberstram's offer must be heard. 819 00:42:07,600 --> 00:42:08,960 Please, continue. 820 00:42:09,040 --> 00:42:10,480 WHITNEY: Thank you. 821 00:42:11,680 --> 00:42:13,480 The offer's mostly stock for stock. 822 00:42:14,840 --> 00:42:18,280 By year one, we expect it to be earnings accretive. 823 00:42:18,320 --> 00:42:21,520 By year two, this thing's gonna be paying for itself 824 00:42:21,600 --> 00:42:24,680 through capital efficiency and operational overlap. 825 00:42:26,800 --> 00:42:29,560 I leave you with the words that 826 00:42:29,640 --> 00:42:32,400 every industrialist had sewn into their souls 827 00:42:32,480 --> 00:42:34,240 at every point in the last century. 828 00:42:37,480 --> 00:42:38,640 We want speed. 829 00:42:40,960 --> 00:42:42,200 We want scale. 830 00:42:44,000 --> 00:42:45,200 We want certainty. 831 00:42:49,160 --> 00:42:50,440 We want America. 832 00:42:51,920 --> 00:42:54,240 (AUDIENCE APPLAUDING) 833 00:42:54,320 --> 00:42:57,320 ♪ (SONG CONTINUES) ♪ 834 00:42:59,200 --> 00:43:01,200 ♪ We can be heroes ♪ 835 00:43:03,560 --> 00:43:05,480 ♪ Just for one day ♪ 836 00:43:07,440 --> 00:43:09,120 Uh, well, Mr. Halberstram, 837 00:43:09,200 --> 00:43:11,440 we certainly appreciate your remarks, 838 00:43:11,520 --> 00:43:15,120 and our C-Suite will take them into consideration. Thank you. 839 00:43:15,200 --> 00:43:18,240 -(INAUDIBLE) -♪ And we can be heroes ♪ 840 00:43:20,120 --> 00:43:21,800 -♪ Just for one day ♪ -(CELL PHONE RINGING) 841 00:43:21,880 --> 00:43:23,840 -Alexander. -♪ (SONG FADES) ♪ 842 00:43:24,800 --> 00:43:27,280 Have you prepped Henry about the headline? 843 00:43:33,840 --> 00:43:35,000 No. 844 00:43:35,080 --> 00:43:36,960 NORTON: Because we both know there's no hope of the company 845 00:43:37,000 --> 00:43:38,080 surviving this. 846 00:43:41,000 --> 00:43:42,000 No. 847 00:43:43,240 --> 00:43:44,840 Yasmin, we're not off stone yet. 848 00:43:44,920 --> 00:43:46,480 It's not too late for me to slip the page 849 00:43:46,560 --> 00:43:47,680 and change the splash. 850 00:43:49,800 --> 00:43:51,000 I can stop it running. 851 00:43:52,440 --> 00:43:53,920 I don't think that's wise. 852 00:43:57,320 --> 00:43:58,600 Henry won't survive it. 853 00:44:00,000 --> 00:44:01,720 This is more than just tough love. 854 00:44:04,400 --> 00:44:08,680 He's lived his entire life without any consequences. 855 00:44:09,880 --> 00:44:12,400 I mean, look where it's gotten him. 856 00:44:12,480 --> 00:44:14,360 ♪ (SOMBER DIRGE PLAYING) ♪ 857 00:44:14,440 --> 00:44:16,200 NORTON: But is this loving him? 858 00:44:16,240 --> 00:44:20,440 Yes, Alexander. Yes, it is. 859 00:44:22,200 --> 00:44:24,560 We've done everything we can for him. 860 00:44:25,640 --> 00:44:26,960 You did... 861 00:44:28,080 --> 00:44:29,680 more than anyone else could have. 862 00:44:30,680 --> 00:44:32,320 NORTON: We did everything we can for him. 863 00:44:32,400 --> 00:44:33,560 (SOBS) 864 00:44:38,120 --> 00:44:41,320 (TEARFULLY) I've gotta go. Okay? 865 00:44:44,360 --> 00:44:45,560 (SOFTLY) Fuck. 866 00:44:50,200 --> 00:44:51,440 (SOBS) 867 00:44:54,200 --> 00:44:57,200 (SOBBING) 868 00:45:04,080 --> 00:45:07,720 ♪ (DRUMS ROLLING) ♪ 869 00:45:07,800 --> 00:45:09,120 ♪ (MUSIC CONCLUDES) ♪ 870 00:45:16,080 --> 00:45:19,360 -(GROANS) -WHITNEY: Wakey, wakey. 871 00:45:23,120 --> 00:45:25,400 Rise and shine. We're almost home. 872 00:45:27,000 --> 00:45:28,000 Bad sleep. 873 00:45:30,520 --> 00:45:31,600 Bad dreams. 874 00:45:32,840 --> 00:45:33,840 What was the dream? 875 00:45:35,240 --> 00:45:37,640 It's often my... my father leaving. 876 00:45:41,000 --> 00:45:42,040 People leaving. 877 00:45:43,480 --> 00:45:45,800 Everyone we love has already started the process 878 00:45:45,880 --> 00:45:46,880 of going away. 879 00:45:49,560 --> 00:45:50,640 (GROANS) 880 00:45:54,520 --> 00:45:56,000 WHITNEY: I didn't sleep much. 881 00:45:58,560 --> 00:46:00,440 I've been waiting for Wilhelmina to call. 882 00:46:03,400 --> 00:46:04,400 Tell me. 883 00:46:05,920 --> 00:46:08,880 That Al-Mi'raj exec who supported your speaking 884 00:46:08,960 --> 00:46:09,960 in the meeting. 885 00:46:11,280 --> 00:46:12,480 Why'd he break rank? 886 00:46:13,680 --> 00:46:16,120 Maybe he really believes in transparency, Henry. 887 00:46:18,880 --> 00:46:20,360 Maybe he used to date Hayley. 888 00:46:22,040 --> 00:46:23,080 Date? 889 00:46:24,840 --> 00:46:26,480 -(CELL PHONE BUZZING) -Sure. 890 00:46:31,320 --> 00:46:33,600 -Shit. -What? 891 00:46:33,680 --> 00:46:35,520 They pushed the Business Secretary out. 892 00:46:35,600 --> 00:46:36,680 Dearn's gone. 893 00:46:37,920 --> 00:46:39,600 Over-- over-- over what? 894 00:46:41,960 --> 00:46:45,200 Wait. Oh my God. 895 00:46:46,360 --> 00:46:48,800 Oh, God, I've got an email from Kevin Rawle 896 00:46:48,880 --> 00:46:51,400 giving me the opportunity 897 00:46:51,480 --> 00:46:55,280 to respond to claims made before publication. 898 00:46:55,360 --> 00:46:56,280 They're running a story 899 00:46:56,360 --> 00:46:57,960 about Dearn's involvement with us. 900 00:46:59,760 --> 00:47:01,400 It wasn't you? 901 00:47:01,480 --> 00:47:04,680 What the fuck are you on about? No, I need to... 902 00:47:04,760 --> 00:47:07,600 I need to, uh... I need to call Yasmin. 903 00:47:07,640 --> 00:47:11,240 Kevin's fucked it this time, the bigot cunt. 904 00:47:11,320 --> 00:47:13,200 Why don't I got a fucking signal? 905 00:47:13,240 --> 00:47:16,840 Henry, relax. The focus is Pierpoint. 906 00:47:17,720 --> 00:47:21,240 Pierpoint? What are you talking about? 907 00:47:21,320 --> 00:47:24,160 You can't construct a universe where nothing's real. 908 00:47:24,240 --> 00:47:26,200 Nobody can really live like that! 909 00:47:30,920 --> 00:47:33,320 Do you know why you can't regulate your emotions? 910 00:47:36,600 --> 00:47:37,960 'Cause you're a fucking child. 911 00:47:38,000 --> 00:47:40,200 ♪ (EXTENDED REMIX OF "I RAN " BY A FLOCK OF SEAGULLS PLAYING) ♪ 912 00:47:40,280 --> 00:47:43,000 Shut up. (BREATHES HEAVILY) 913 00:47:43,040 --> 00:47:45,240 I need to... I just need to get hold of Yasmin. 914 00:47:45,320 --> 00:47:46,760 She can, uh, call my... 915 00:47:46,840 --> 00:47:48,480 call my uncle off. What the fuck... 916 00:47:48,560 --> 00:47:49,760 I thought you hated your mother, 917 00:47:49,840 --> 00:47:52,160 so why is your mouth still attached to her fucking tit? 918 00:47:56,280 --> 00:47:58,920 Oh for... Why doesn't this thing fucking work? 919 00:47:59,640 --> 00:48:00,720 (SOFTLY) Fuck. 920 00:48:04,240 --> 00:48:05,360 Fuck. 921 00:48:07,320 --> 00:48:10,680 Okay, okay, okay. 922 00:48:10,760 --> 00:48:13,640 -♪ (SONG CONTINUES) ♪ -JAMIE ABINGTON: Minister! Minister! 923 00:48:14,480 --> 00:48:16,120 Wow. 924 00:48:16,200 --> 00:48:18,000 JAMIE: These were delivered to your private office. 925 00:48:18,480 --> 00:48:20,280 Okay. Um, who? 926 00:48:36,680 --> 00:48:38,920 -(DIAL TONE RINGING) -♪ (SONG CONTINUES) ♪ 927 00:48:40,960 --> 00:48:42,720 Oh, for fuck's sake... 928 00:48:44,040 --> 00:48:45,280 Who the fuck are you? 929 00:48:45,360 --> 00:48:47,080 I'm temping. I've been sat here the whole time. 930 00:48:47,160 --> 00:48:49,400 -Yeah, okay. Where's Whitney? -ASSISTANT: I don't know. 931 00:48:49,480 --> 00:48:51,160 You mean he hasn't been back here since we landed? 932 00:48:51,240 --> 00:48:52,440 He's been in and out. 933 00:48:52,480 --> 00:48:55,080 Okay, well. Okay. I go home. No Yasmin. 934 00:48:55,160 --> 00:48:58,000 -I come here... -She resigned this afternoon. 935 00:48:59,480 --> 00:49:00,600 Sorry, what? 936 00:49:00,680 --> 00:49:02,320 ASSISTANT: She gave notice of her resignation 937 00:49:02,400 --> 00:49:03,400 this afternoon. 938 00:49:03,480 --> 00:49:05,000 ♪ I walk along the avenue... ♪ 939 00:49:05,080 --> 00:49:06,560 (CELL PHONE RINGING) 940 00:49:06,640 --> 00:49:08,320 ASSISTANT: Um, the LGBTQI+ delegation are waiting... 941 00:49:08,400 --> 00:49:09,800 Whitney, where the fuck are you? 942 00:49:09,880 --> 00:49:11,360 WILHELMINA: Henry, it's Wilhelmina Fassbinder 943 00:49:11,440 --> 00:49:13,200 from Al-Mi'raj Pierpoint. 944 00:49:13,280 --> 00:49:15,040 I owe you the call, not Whitney, 945 00:49:15,120 --> 00:49:17,320 given my reservations about his character. 946 00:49:17,400 --> 00:49:20,120 Uh, to be blunt, I allowed his little charade 947 00:49:20,200 --> 00:49:23,440 at our AGM to jack up our sale to Temasek. 948 00:49:23,520 --> 00:49:26,240 (SLURPS) It had been in the works for some time, 949 00:49:26,320 --> 00:49:28,480 and his proclamations about our valuation 950 00:49:28,560 --> 00:49:31,640 gave me a little leverage for the final negotiation. 951 00:49:31,680 --> 00:49:34,080 HENRY: Uh, okay, yeah, um... 952 00:49:34,120 --> 00:49:36,760 Have you, uh, spoken to Whitney at all? 953 00:49:36,840 --> 00:49:38,760 I haven't. Although I... 954 00:49:39,480 --> 00:49:41,240 I hope you realize his yarn 955 00:49:41,320 --> 00:49:44,640 about buying multiple positions at Pierpoint was a bluff. 956 00:49:44,720 --> 00:49:47,240 I called his supposed intermediaries. 957 00:49:47,320 --> 00:49:50,040 There's no term sheets, no interbank confirmation, 958 00:49:50,120 --> 00:49:52,320 no capital. There's no record at all, nothing. 959 00:49:52,400 --> 00:49:55,560 Snake oil and sermons sound similar, don't they? 960 00:49:55,640 --> 00:49:58,840 We will all be monitoring the Tender fallout closely. 961 00:49:58,880 --> 00:50:01,360 If your equity continues to crater, 962 00:50:01,440 --> 00:50:03,680 we'll trigger the conversion on your bond. 963 00:50:03,720 --> 00:50:04,720 Hmm. 964 00:50:05,640 --> 00:50:08,120 And we will be pursuing full recovery 965 00:50:08,200 --> 00:50:10,120 so that our institution doesn't suffer. 966 00:50:10,800 --> 00:50:12,920 Um, good luck. 967 00:50:14,360 --> 00:50:16,520 ♪ And I ran ♪ 968 00:50:16,560 --> 00:50:19,880 ♪ I ran all night and day ♪ 969 00:50:19,960 --> 00:50:21,720 ♪ Couldn't get away ♪ 970 00:50:23,280 --> 00:50:25,600 (CELL PHONE BUZZING) 971 00:50:25,640 --> 00:50:28,640 ♪ (INTENSE ELECTRO INTSTRUMENTAL PLAYING ) ♪ 972 00:50:30,040 --> 00:50:36,680 (CELL PHONE CONTINUES BUZZING) 973 00:50:55,720 --> 00:50:59,400 -♪ (SONG CONCLUDES) ♪ -(CELL PHONE CONTINUES BUZZING) 974 00:51:02,760 --> 00:51:04,640 (CELL PHONE BUZZES) 975 00:51:04,720 --> 00:51:05,760 Hi. 976 00:51:05,840 --> 00:51:08,720 Jenni, I'm just checking how you're feeling 977 00:51:08,800 --> 00:51:10,800 after how everything landed for you today. 978 00:51:10,880 --> 00:51:13,120 JENNIFER: Did you hear Dearn's resignation speech? 979 00:51:13,200 --> 00:51:14,760 No. 980 00:51:14,840 --> 00:51:18,040 I'm sure I'll get the highlights on Twitter or whatever. 981 00:51:18,120 --> 00:51:22,040 It's full of prevarications. Spares the PM. 982 00:51:22,120 --> 00:51:23,080 (CHUCKLING) I mean, 983 00:51:23,160 --> 00:51:25,400 the sentences carry about as much weight 984 00:51:25,480 --> 00:51:27,040 as a Tender press release, if I'm honest. 985 00:51:27,120 --> 00:51:29,880 Listen, it's yesterday's news. 986 00:51:29,960 --> 00:51:32,480 Well, I mean, it's tomorrow's news, obviously. 987 00:51:34,000 --> 00:51:36,960 But good luck with your television appearance. 988 00:51:37,040 --> 00:51:39,640 It's a really great vote of confidence that the PM 989 00:51:39,720 --> 00:51:41,760 wants you to be the face to front this thing. 990 00:51:41,840 --> 00:51:42,840 And call me after. 991 00:51:42,920 --> 00:51:44,760 We can talk about how I can drive the rest 992 00:51:44,840 --> 00:51:46,080 of your communications. 993 00:51:47,320 --> 00:51:48,760 I'm sorry. What-- 994 00:51:48,840 --> 00:51:51,560 Why-- Why would I want or need that from you? 995 00:51:53,040 --> 00:51:54,640 How much did you know? 996 00:51:55,320 --> 00:51:57,040 What about-- about Tender? 997 00:51:57,120 --> 00:51:59,400 That leak to FinDigest that catalyzed 998 00:51:59,480 --> 00:52:01,000 the whole red-top story, was... 999 00:52:01,560 --> 00:52:03,120 was that you? 1000 00:52:04,520 --> 00:52:06,000 Look, it doesn't help you to know. 1001 00:52:06,080 --> 00:52:08,680 You have no fucking right. 1002 00:52:08,760 --> 00:52:10,440 You know this is crashing down around... 1003 00:52:10,480 --> 00:52:12,160 The right people will survive. 1004 00:52:12,240 --> 00:52:14,440 JENNIFER: I've only ever seen the sunniest version 1005 00:52:14,520 --> 00:52:16,560 of your disposition, and I increasingly wonder 1006 00:52:16,640 --> 00:52:19,520 if that's because I've only ever acted exactly how you designed. 1007 00:52:19,600 --> 00:52:21,720 Look, I know that you're under a lot of stress, 1008 00:52:21,800 --> 00:52:24,120 but can you, um, can you not take this out on me? 1009 00:52:24,200 --> 00:52:26,840 JENNIFER: The real cancer in our politics are the pigshit, 1010 00:52:26,920 --> 00:52:29,160 thick lightweights without a single real belief. 1011 00:52:29,240 --> 00:52:31,760 Except for their own self-advancement. 1012 00:52:31,800 --> 00:52:33,680 YASMIN: You knew what taking that meeting meant. 1013 00:52:33,760 --> 00:52:35,320 You got exactly what you wanted, 1014 00:52:35,400 --> 00:52:37,400 and I have been a genuine friend to you. 1015 00:52:37,440 --> 00:52:39,520 JENNIFER: What fucking friendship? 1016 00:52:39,600 --> 00:52:41,560 This has been a marriage of convenience, 1017 00:52:41,640 --> 00:52:43,280 but I suppose you're used to those. 1018 00:52:45,840 --> 00:52:47,560 You know nothing about my marriage. 1019 00:52:47,640 --> 00:52:49,400 JENNIFER: I know that your husband is an addict, 1020 00:52:49,480 --> 00:52:51,880 and I know that you deserted him to his ruin. 1021 00:52:51,920 --> 00:52:54,240 You abandoned him when he needed you the most, 1022 00:52:54,320 --> 00:52:55,720 so you take that for a fucking dance 1023 00:52:55,800 --> 00:52:56,920 around your conscience. 1024 00:52:56,960 --> 00:52:58,320 Oh, fuck you! 1025 00:52:58,360 --> 00:52:59,520 (PHONE THUDS) 1026 00:52:59,600 --> 00:53:02,400 ♪ ("THE PROMISE" BY WHEN IN ROME PLAYING) ♪ 1027 00:53:03,680 --> 00:53:07,000 How fucking dare you, you stupid fucking bitch! 1028 00:53:07,080 --> 00:53:13,120 ♪ Don't look to a stranger You know in the end ♪ 1029 00:53:14,160 --> 00:53:15,160 (BREATHING HEAVILY) 1030 00:53:15,240 --> 00:53:17,920 ♪ I'll always be there ♪ 1031 00:53:20,240 --> 00:53:24,200 Yes, yeah, thank you so much for letting me know. Speak soon. 1032 00:53:27,240 --> 00:53:29,560 -That was Burgess. -KWABENA: Mm-hmm. 1033 00:53:29,640 --> 00:53:31,520 Big story in the tabloids tomorrow, front page. 1034 00:53:31,560 --> 00:53:33,640 (BREATHES DEEPLY) The Serious Fraud Office 1035 00:53:33,720 --> 00:53:35,880 are announcing their investigation in the afternoon. 1036 00:53:35,960 --> 00:53:39,280 Yeah. Uh, the government's just mandated a Section 166 1037 00:53:39,360 --> 00:53:41,960 "skilled person" review into Tender's compliances 1038 00:53:42,000 --> 00:53:45,840 and risk controls. The FCA are instructing PwC. 1039 00:53:45,920 --> 00:53:48,960 Stock's indicating to open down 77 percent. 1040 00:53:52,120 --> 00:53:53,800 No one wants to catch the knife. 1041 00:53:55,400 --> 00:53:58,000 Tomorrow morning, we hit the tape small. 1042 00:53:58,080 --> 00:53:59,080 Don't show our hand 1043 00:53:59,160 --> 00:54:01,080 and exit as efficiently as we can. 1044 00:54:03,320 --> 00:54:05,240 Show me dollars. 1045 00:54:06,320 --> 00:54:09,640 (CELL PHONE RINGS, BUZZES) 1046 00:54:09,720 --> 00:54:12,920 Good. Yeah, we're all speaking the same fucking language. 1047 00:54:14,040 --> 00:54:15,080 Hey, what's up? 1048 00:54:17,360 --> 00:54:20,680 (BOTH CHUCKLE) 1049 00:54:20,760 --> 00:54:22,560 -(INDISTINCT CHATTER) -♪ (SONG CONTINUES IN BACKGROUND) ♪ 1050 00:54:22,640 --> 00:54:24,720 -YASMIN: You must be levitating. -(HARPER CHUCKLES) 1051 00:54:26,240 --> 00:54:27,280 Yeah. 1052 00:54:28,040 --> 00:54:29,400 Ironic I'm here with you. 1053 00:54:32,320 --> 00:54:34,680 Yeah, you used to make me feel very alone. 1054 00:54:37,280 --> 00:54:38,920 Now you're the only person in the world 1055 00:54:38,960 --> 00:54:40,240 I don't feel alone around. 1056 00:54:44,240 --> 00:54:47,000 I didn't want any of this to come at your expense. 1057 00:54:48,560 --> 00:54:50,000 It's kind of everything you've ever wanted, 1058 00:54:50,080 --> 00:54:52,480 really, isn't it? Me like this and you like that. 1059 00:54:56,200 --> 00:54:57,360 It's true, it is. 1060 00:54:59,960 --> 00:55:02,160 -It is! -(CHUCKLES) Yeah. 1061 00:55:02,240 --> 00:55:04,120 -Thanks for your honesty. -(CHUCKLES) 1062 00:55:07,800 --> 00:55:10,280 I mean, seriously, how the fuck did we get here? 1063 00:55:11,480 --> 00:55:12,760 Fuck if I know. 1064 00:55:14,000 --> 00:55:15,600 What drives anyone anywhere? 1065 00:55:16,720 --> 00:55:18,920 Lack and need. 1066 00:55:24,960 --> 00:55:26,200 (SCOFFS) 1067 00:55:26,280 --> 00:55:27,880 I'm so jealous of you. 1068 00:55:30,080 --> 00:55:33,840 I am. You're so smart, you know? 1069 00:55:33,880 --> 00:55:37,240 And the way that you wear it. You have this command, you know? 1070 00:55:38,520 --> 00:55:41,920 This autonomy. I'm so fucking soft. 1071 00:55:45,640 --> 00:55:48,720 I don't really know how to say this without... 1072 00:55:48,760 --> 00:55:49,800 (HESITATES) 1073 00:55:53,360 --> 00:55:57,640 I would do anything to live a day in your body and... 1074 00:55:59,240 --> 00:56:01,080 and just, like, see 1075 00:56:01,160 --> 00:56:03,360 how the world opened up around me. 1076 00:56:08,640 --> 00:56:11,520 I really resented you for being a breathing example 1077 00:56:11,600 --> 00:56:13,800 of how I was less. 1078 00:56:13,880 --> 00:56:17,200 ♪ ("ONLY TIME" BY ENYA PLAYING IN BACKGROUND) ♪ 1079 00:56:19,080 --> 00:56:21,000 I choose to love you 1080 00:56:22,120 --> 00:56:25,520 for being a breathing example of how I can be more. 1081 00:56:28,400 --> 00:56:30,120 I just want to be necessary. 1082 00:56:33,160 --> 00:56:34,840 I've never been necessary. 1083 00:56:34,920 --> 00:56:36,840 HARPER: Like, where does that come from? 1084 00:56:36,920 --> 00:56:42,920 Like, the need for control or desire to dominate? 1085 00:56:43,840 --> 00:56:46,960 Is it so you can say... 1086 00:56:48,600 --> 00:56:51,080 I don't know, you were never at anyone's mercy? 1087 00:56:54,640 --> 00:56:55,640 I don't know. 1088 00:56:59,440 --> 00:57:00,600 I don't know. 1089 00:57:03,800 --> 00:57:05,000 I guess... 1090 00:57:06,600 --> 00:57:09,040 I guess I kind of grew up at someone's mercy. 1091 00:57:13,800 --> 00:57:14,920 (SIGHS) 1092 00:57:18,760 --> 00:57:20,760 (YASMIN SNIFFLING, SOBBING) 1093 00:57:26,920 --> 00:57:28,080 (WHISPERS) I'm sorry. 1094 00:57:32,560 --> 00:57:37,280 ♪ ("VERIDIS QUO" BY DAFT PUNK PLAYING) ♪ 1095 00:57:37,360 --> 00:57:40,200 Do you want to go out? (SNIFFLES, CHUCKLES) 1096 00:57:41,840 --> 00:57:43,320 I mean, like, 1097 00:57:43,400 --> 00:57:45,920 just blow things away a bit, you know? 1098 00:57:46,600 --> 00:57:48,240 (HARPER CHUCKLES SOFTLY) 1099 00:57:48,280 --> 00:57:51,040 Do all the things that Lorde sings about? 1100 00:57:51,080 --> 00:57:53,360 -Lorde sings about being 17. -YASMIN: Exactly. 1101 00:57:55,280 --> 00:57:59,760 -God, I wish I was still 17. -HARPER: Girl. (CHUCKLES) 1102 00:57:59,840 --> 00:58:02,920 It was so easy to get people to do things for you. 1103 00:58:02,960 --> 00:58:04,040 (CHUCKLES) 1104 00:58:04,440 --> 00:58:05,560 (GLASS THUDS) 1105 00:58:09,600 --> 00:58:11,440 Will you promise me something? 1106 00:58:11,520 --> 00:58:12,520 Hmm. 1107 00:58:14,160 --> 00:58:15,800 Will you look after me tonight? 1108 00:58:16,800 --> 00:58:18,960 When the fuck are you gonna look after me? 1109 00:58:21,560 --> 00:58:22,640 Tonight. 1110 00:58:24,360 --> 00:58:28,520 ♪ (SONG CONTINUES) ♪ 1111 00:59:02,400 --> 00:59:06,960 ♪ (SONG CONTINUES) ♪ 1112 00:59:16,960 --> 00:59:19,640 (INDISTINCT CHATTER) 1113 00:59:30,960 --> 00:59:33,360 You have no idea how good I feel right now. 1114 00:59:36,800 --> 00:59:39,160 We're here forever, even if we can't be. 1115 00:59:39,240 --> 00:59:42,720 ♪ ("VERIDIS QUO" CONTINUES PLAYING) ♪ 1116 00:59:49,720 --> 00:59:56,520 ♪ (SONG CONTINUES) ♪ 1117 01:00:45,320 --> 01:00:47,360 ♪ (SONG FADES) ♪