1
00:00:13,880 --> 00:00:16,440
[crowd shouting]
2
00:00:23,360 --> 00:00:25,400
[chanting in Spanish]
3
00:00:40,920 --> 00:00:43,040
[in Spanish]
4
00:01:12,400 --> 00:01:15,080
[chanting in Spanish]
5
00:01:35,000 --> 00:01:36,800
[indistinct shouting]
6
00:02:21,200 --> 00:02:22,480
[guard]
No, no.
7
00:02:25,600 --> 00:02:27,040
No.
8
00:02:50,920 --> 00:02:52,480
[all scream]
9
00:02:55,080 --> 00:02:57,360
[Massimo] I believe we are born innocent.
10
00:02:57,400 --> 00:03:01,400
Trusting that love
is stronger than hate.
11
00:03:10,080 --> 00:03:11,520
But sooner or later...
12
00:03:11,560 --> 00:03:13,640
Ramiro!
13
00:03:13,680 --> 00:03:15,440
[gunshot]
14
00:03:21,400 --> 00:03:24,000
...that innocence is shattered.
15
00:03:33,440 --> 00:03:36,200
We see the cruel
defeat the kind.
16
00:03:38,920 --> 00:03:42,240
And we learn that fear
can crush hope.
17
00:03:45,800 --> 00:03:48,360
We grieve the loss
of innocence.
18
00:03:49,600 --> 00:03:53,600
But more than that,
we long to defend the weak.
19
00:03:54,560 --> 00:03:56,200
[sniffles]
20
00:04:04,720 --> 00:04:07,320
To right the scales of justice.
21
00:04:16,000 --> 00:04:20,360
To defeat the men
whose hands drip with blood.
22
00:04:59,280 --> 00:05:01,160
[Terence] How do you know
she was murdered?
23
00:05:01,200 --> 00:05:03,760
[Massimo] That's what I want youto find out.
24
00:05:03,800 --> 00:05:05,840
-Got any whiskey?
-Neat?
25
00:05:05,880 --> 00:05:07,400
Yes, please.
26
00:05:08,160 --> 00:05:09,920
Look, Massimo,
27
00:05:09,960 --> 00:05:11,440
I'm happy to take your money,
28
00:05:11,480 --> 00:05:15,000
but if Carrie
died of an overdose...
29
00:05:18,880 --> 00:05:21,960
I need to know who brought her
back to London.
30
00:05:22,000 --> 00:05:24,640
It can't be a coincidence.
31
00:05:24,680 --> 00:05:26,080
Not after three years.
32
00:05:26,120 --> 00:05:29,000
Coincidences do happen,you know.
33
00:05:37,000 --> 00:05:38,440
All right.
34
00:05:39,680 --> 00:05:40,880
I get it.
35
00:05:40,920 --> 00:05:42,360
You're looking for someoneto blame.
36
00:05:42,400 --> 00:05:44,400
A mystery man.
37
00:05:45,240 --> 00:05:46,960
But has it occurred to you
38
00:05:47,000 --> 00:05:49,280
that maybe you've alreadyfound him?
39
00:05:54,320 --> 00:05:56,760
[Carrie] You have to get
a tattoo like mine!
40
00:06:00,000 --> 00:06:01,680
[police siren wailing distantly]
41
00:06:01,720 --> 00:06:04,560
-Wait for us.
-[indistinct chatter]
42
00:06:08,400 --> 00:06:11,240
-Irish bonds?
-It's top secret.
43
00:06:11,280 --> 00:06:13,040
-Yeah!
-[gasps]
44
00:06:20,400 --> 00:06:22,680
-[croaks]
-[elevator dings]
45
00:06:24,440 --> 00:06:26,520
[elevator doors slide open]
46
00:06:28,600 --> 00:06:30,280
[phones ringing]
47
00:06:37,800 --> 00:06:39,560
Ah...
48
00:06:42,200 --> 00:06:44,680
[indistinct chatter]
49
00:06:56,080 --> 00:06:59,080
[male newscaster] Irish economy was
the fastest growing in Europe.
50
00:06:59,120 --> 00:07:00,800
The market
dried up completely.
51
00:07:00,840 --> 00:07:03,920
All the residential units
that you see behind us.
52
00:07:03,960 --> 00:07:05,840
[male newscaster] There is
some continuity, obviously,
53
00:07:05,880 --> 00:07:08,760
in the fact that
the Conservatives...
54
00:07:08,800 --> 00:07:10,680
Mr. Morgan.
55
00:07:10,720 --> 00:07:12,120
Mm!
56
00:07:13,200 --> 00:07:14,560
Good morning, Hans.
57
00:07:14,600 --> 00:07:16,160
Ah.
58
00:07:16,200 --> 00:07:19,120
You remember my associate,
Karl Haufman?
59
00:07:19,160 --> 00:07:22,360
What seems to be the problem,
Hans?
60
00:07:22,400 --> 00:07:25,080
-Right to the point, aren't you?-Is this about our agreement?
61
00:07:25,120 --> 00:07:26,360
[clears throat]
62
00:07:26,400 --> 00:07:29,160
Rheinthaler needs
to suspend it.
63
00:07:29,200 --> 00:07:30,720
At least for now.
64
00:07:31,800 --> 00:07:34,760
Are you asking me
or are you telling me?
65
00:07:34,800 --> 00:07:36,360
I have no choice, Dominic.
66
00:07:36,400 --> 00:07:37,840
Of course you have a choice,Hans.
67
00:07:37,880 --> 00:07:39,760
You're the CEO.
68
00:07:39,800 --> 00:07:41,640
Karl?
69
00:07:41,680 --> 00:07:44,160
[Karl] I was called in
to see the finance minister.
70
00:07:44,200 --> 00:07:46,600
He says it's contrary
to the national interest.
71
00:07:46,640 --> 00:07:49,240
The finance minister has nothingto do with our agreement.
72
00:07:49,280 --> 00:07:51,560
We still have to answer
to a government, Dominic.
73
00:07:51,600 --> 00:07:53,720
What about your bank'sinterests, Hans?
74
00:07:53,760 --> 00:07:55,720
Have you seen the news
this morning?
75
00:07:55,760 --> 00:07:57,760
Ireland's on its knees.
76
00:07:57,800 --> 00:07:59,240
How many bonds
from Irish banks
77
00:07:59,280 --> 00:08:01,480
did you gobble up
during the boom?
78
00:08:01,520 --> 00:08:04,480
They're about to leavea very bad taste in your mouth.
79
00:08:05,280 --> 00:08:06,640
Are you threatening me?
80
00:08:06,680 --> 00:08:08,400
You're the one
suspending our agreement.
81
00:08:08,440 --> 00:08:10,520
[Hans] I don't like it
any more than you do.
82
00:08:10,560 --> 00:08:12,040
Maybe if you talked
to the minister,
83
00:08:12,080 --> 00:08:14,760
you could get him
to change his mind.
84
00:08:17,640 --> 00:08:19,240
Maybe I could.
85
00:08:21,040 --> 00:08:22,480
And until you do,
86
00:08:22,520 --> 00:08:25,360
our exposure
on this Irish thing...
87
00:08:25,400 --> 00:08:28,760
you'll keep it to yourself,
won't you?
88
00:08:28,800 --> 00:08:30,440
[chuckles]
89
00:08:30,480 --> 00:08:32,160
[male newscaster] Ireland
has been urged to accept
90
00:08:32,200 --> 00:08:34,360
a humiliating financial rescue
from the European Union.
91
00:08:34,400 --> 00:08:36,720
[indistinct chattering]
92
00:08:38,400 --> 00:08:40,040
[Massimo] How much
is Rheinthaler in for?
93
00:08:40,080 --> 00:08:41,520
[Eleanor]
Three, possibly four billion.
94
00:08:41,560 --> 00:08:43,280
That's propriety information.
95
00:08:43,320 --> 00:08:44,920
How'd you get Haufman
to tell you that?
96
00:08:44,960 --> 00:08:46,240
[Eleanor]
The usual way.
97
00:08:46,280 --> 00:08:48,560
Sushi at Mabu,
rivers of Bavarian beer
98
00:08:48,600 --> 00:08:50,680
and the filthiest strip club
in the city.
99
00:08:50,720 --> 00:08:54,560
[dance music blaring]
100
00:08:54,600 --> 00:08:58,320
[Oliver] So Rheinthaler Bank
is exposed for four billion
on Irish housing bonds?
101
00:08:58,360 --> 00:09:01,000
There is a Central Bankmeeting coming up.
102
00:09:01,040 --> 00:09:02,360
He won't want to offload
the bonds just yet.
103
00:09:02,400 --> 00:09:04,120
But he'll have to
sooner or later, won't he?
104
00:09:04,160 --> 00:09:07,680
And when he does,
the Irish banks
will blow sky-high.
105
00:09:07,720 --> 00:09:10,280
We short now, hush-hush.
It's a hell of a play.
106
00:09:10,320 --> 00:09:11,760
I'm not sure it is.
107
00:09:11,800 --> 00:09:14,560
We used to kill
for this kind of information.
108
00:09:14,600 --> 00:09:16,760
All right. Start shorting.
109
00:09:16,800 --> 00:09:19,360
But only small trades.I don't want thistraced back to us.
110
00:09:19,400 --> 00:09:20,760
Okay.
111
00:09:20,800 --> 00:09:22,280
Oliver...
112
00:09:22,320 --> 00:09:25,840
look at the Irish bondssold over the past three years.
113
00:09:25,880 --> 00:09:27,600
Not only to Rheinthaler Bank,
114
00:09:27,640 --> 00:09:30,120
but to the other main banksin Germany, Holland and France.
115
00:09:30,160 --> 00:09:31,560
All right.
116
00:09:33,200 --> 00:09:35,400
[traffic ambience]
117
00:09:36,200 --> 00:09:38,160
[ducks quacking]
118
00:09:40,360 --> 00:09:41,960
[Chris]Detective Bale.
119
00:09:42,000 --> 00:09:44,120
I hope I haven'tkept you waiting too long.
120
00:09:44,160 --> 00:09:46,600
I've rather enjoyed
the quiet, actually.
121
00:09:46,640 --> 00:09:49,120
Yeah, you know,it's a beautiful spot.
122
00:09:50,200 --> 00:09:52,160
I take my daughters
riding here on Sundays.
123
00:09:52,200 --> 00:09:54,640
What a lovely life
you must lead.
124
00:09:56,000 --> 00:09:58,000
Yes, well, we bankers are...
125
00:09:58,040 --> 00:09:59,800
quite fortunate.
126
00:10:01,200 --> 00:10:03,040
I'm afraid my colleagueswouldn't be too pleased
127
00:10:03,080 --> 00:10:05,520
if they knew I wasbringing you this information.
128
00:10:05,560 --> 00:10:07,280
So why are you?
129
00:10:08,680 --> 00:10:10,200
I believe in the truth.
130
00:10:11,320 --> 00:10:13,400
[Bale]No one need know you called me.
131
00:10:14,400 --> 00:10:15,960
What do you have,
Mr. Bailey?
132
00:10:16,000 --> 00:10:18,600
It's about Ed Stuart's death.
133
00:10:20,000 --> 00:10:22,120
And Massimo Ruggero.
134
00:10:39,840 --> 00:10:42,040
[computer chiming]
135
00:10:44,040 --> 00:10:46,560
-Hi.
-Late night, hm?
136
00:10:46,600 --> 00:10:49,440
No, I just couldn't sleep.
That's all.
137
00:10:49,480 --> 00:10:52,360
-Should I be worried
about you, Sofia?
-No.
138
00:10:56,040 --> 00:10:58,360
I need someone
I can trust on this.
139
00:10:58,400 --> 00:11:00,120
A guy called Robert McKenna.
140
00:11:00,160 --> 00:11:01,720
Yeah, I recognize the name.
141
00:11:01,760 --> 00:11:05,200
He's a reporter for Central News Agency, right?
142
00:11:05,240 --> 00:11:09,240
CNA is a front
for an intelligence agency.
143
00:11:10,360 --> 00:11:12,200
He made contact with us
last night.
144
00:11:12,240 --> 00:11:14,360
He says he has information
he wants to share.
145
00:11:14,400 --> 00:11:17,000
-A trap?
-Could be.
146
00:11:17,040 --> 00:11:18,720
Could be a man
with a conscience.
147
00:11:18,760 --> 00:11:21,440
I've heard they exist,
but you know as well as I do,
148
00:11:21,480 --> 00:11:24,280
it's awfully hard
to tell one from the other.
149
00:11:24,320 --> 00:11:26,960
I'm trusting you'll be able to.
150
00:11:27,000 --> 00:11:29,600
Thanks for giving me
another chance.
151
00:11:30,400 --> 00:11:32,240
This is the last one.
152
00:11:34,480 --> 00:11:37,640
-You wanted to see me?
-Yeah, have a seat, Massimo.
153
00:11:42,600 --> 00:11:44,000
Thank you.
154
00:11:44,040 --> 00:11:46,200
[Dominic] Chris and Ihave had a discussion,
155
00:11:46,240 --> 00:11:47,560
and there's gonna bea change little in structure,
156
00:11:47,600 --> 00:11:49,960
and we wanted youto be first to know.
157
00:11:50,000 --> 00:11:53,000
I didn't realize
Chris was dictating policy now.
158
00:11:53,040 --> 00:11:54,360
Was there a memo?
159
00:11:54,400 --> 00:11:56,920
[Dominic]Due to the adverseLIA publicity,
160
00:11:56,960 --> 00:11:59,640
-we need to keep
our nose clean.
-Hm.
161
00:11:59,680 --> 00:12:01,480
-Want to fill him in?
-I wouldn't presume
162
00:12:01,520 --> 00:12:03,520
to tell Massimo a thing
about how to do his job.
163
00:12:03,560 --> 00:12:05,160
You have any questions,you know where to find me.
164
00:12:05,200 --> 00:12:07,280
-Mm-hmm.
-Gentlemen.
165
00:12:10,240 --> 00:12:11,720
He's not a bad guy,
you know.
166
00:12:11,760 --> 00:12:14,760
Nor is he good at anything,
as far as I can see.
167
00:12:14,800 --> 00:12:17,240
Except taking credit
for other people's work.
168
00:12:17,280 --> 00:12:20,360
Political skills
are valuable,
169
00:12:20,400 --> 00:12:22,160
and he's well-likedby the board.
170
00:12:22,200 --> 00:12:23,600
Just like Ed was.
171
00:12:25,640 --> 00:12:28,240
That didn't work out too well,
did it?
172
00:12:30,240 --> 00:12:32,560
The vice-CEO chair
remains empty for now.
173
00:12:32,600 --> 00:12:36,360
But Chris will take a new role
in Risk Management.
174
00:12:36,400 --> 00:12:39,000
He's going to keep an eye
on the VaR for me.
175
00:12:40,600 --> 00:12:42,000
Okay.
176
00:12:45,960 --> 00:12:47,120
[door opens]
177
00:12:47,160 --> 00:12:49,000
Chris is in charge
of the VaR?
178
00:12:49,040 --> 00:12:51,240
See for yourself.
179
00:12:52,360 --> 00:12:54,160
He's lowered itby two points.
180
00:12:54,200 --> 00:12:57,360
We're getting put a leash
by that guy, son of a bitch.
181
00:12:57,400 --> 00:13:01,520
Sorry, but maybe I don't quite
get what the VaR is.
182
00:13:01,560 --> 00:13:03,960
The VaR is a little
fucking number
183
00:13:04,000 --> 00:13:05,520
decided by the risk office.
184
00:13:05,560 --> 00:13:07,560
Basically, the lower the VaR,
the less we can risk,
185
00:13:07,600 --> 00:13:10,120
-and the less we risk...
-The less money we can make.
186
00:13:10,160 --> 00:13:11,440
In theory.
187
00:13:11,480 --> 00:13:14,360
In practice, there are waysto dodge the VaR,
188
00:13:14,400 --> 00:13:15,600
if need be.
189
00:13:15,640 --> 00:13:16,840
Need be right now.
190
00:13:16,880 --> 00:13:18,120
Not this time.
191
00:13:18,160 --> 00:13:20,080
We're going to behave ourselves.
192
00:13:21,360 --> 00:13:22,760
If we honor Chris' VaR,
193
00:13:22,800 --> 00:13:25,240
you can forget about
shorting the Irish bonds.
194
00:13:25,280 --> 00:13:27,400
You can forget about
making money altogether.
195
00:13:27,440 --> 00:13:29,000
Then we'll forget about it.
196
00:13:29,920 --> 00:13:32,040
We follow
the rules to the letter.
197
00:13:32,080 --> 00:13:34,200
-Got it?
-But, Massimo,
198
00:13:34,240 --> 00:13:36,960
with Paul gone,
our unit's down this quarter.
199
00:13:37,000 --> 00:13:38,600
Didn't you hearwhat I just said?
200
00:13:39,720 --> 00:13:41,960
-I heard you.
-Good.
201
00:13:42,000 --> 00:13:43,520
Boss.
202
00:13:45,840 --> 00:13:48,280
You look wonderful,Margaret.
203
00:13:48,320 --> 00:13:50,200
Mwah. You're a shameless liar.
204
00:13:50,240 --> 00:13:51,800
I'm just off the red-eye
from D.C.
205
00:13:51,840 --> 00:13:54,160
-You thrive on adversity.
-[laughs]
206
00:13:54,200 --> 00:13:56,280
I only have an hourbefore my flight to Hong Kong.
207
00:13:56,320 --> 00:13:57,880
What can Ihelp you with?
208
00:13:57,920 --> 00:14:01,600
I understand Hans Becker
came to see you this morning.
209
00:14:03,000 --> 00:14:05,080
You're well informed.
210
00:14:07,280 --> 00:14:08,640
What did he want?
211
00:14:08,680 --> 00:14:10,800
Seems he needs to suspend
our agreement.
212
00:14:10,840 --> 00:14:12,080
Pressure fromthe finance minister.
213
00:14:12,120 --> 00:14:14,640
Hm. You weren't
persuasive enough.
214
00:14:14,680 --> 00:14:18,120
It's not a questionof being persuasive.
215
00:14:18,160 --> 00:14:20,840
It seems to be genuinelyout of poor Becker's hands.
216
00:14:20,880 --> 00:14:22,360
You need to find
a solution.
217
00:14:22,400 --> 00:14:23,920
And it won't be easy
to get Washington
218
00:14:23,960 --> 00:14:25,280
to apply
any political pressure.
219
00:14:25,320 --> 00:14:29,120
You know they're not
with us on this.
220
00:14:30,200 --> 00:14:32,920
There is an armistice ceremonythis week.
221
00:14:32,960 --> 00:14:35,360
Let me meetwith them first.
222
00:14:36,160 --> 00:14:37,600
All right.
223
00:14:38,960 --> 00:14:40,400
And your mole?
224
00:14:41,160 --> 00:14:42,800
Have you found him yet?
225
00:14:45,000 --> 00:14:47,720
It seems he'shiding in plain sight.
226
00:14:58,000 --> 00:15:00,040
[office phones ringing]
227
00:15:02,000 --> 00:15:04,160
[phone rings]
228
00:15:05,080 --> 00:15:06,760
Kate?
229
00:15:06,800 --> 00:15:08,960
[Kate] I've got Detective Bale
on the line, Massimo.
230
00:15:09,000 --> 00:15:11,200
[Massimo]
Okay.
231
00:15:11,240 --> 00:15:13,320
Calling to make more threats,
Detective?
232
00:15:13,360 --> 00:15:15,960
I don't recall making
any threats, Mr. Ruggero.
233
00:15:16,000 --> 00:15:19,200
That's not how my colleague,
Oliver Harris, tells it.
234
00:15:19,240 --> 00:15:21,040
[Bale] We're done with Mr. Harris now.
235
00:15:21,080 --> 00:15:24,040
It's you we're interested in.
236
00:15:24,080 --> 00:15:27,480
-Oh?
-Why don't you
come down to the station?
237
00:15:27,520 --> 00:15:29,200
I'm afraid now
is not a good time.
238
00:15:29,240 --> 00:15:30,880
Make it a good time.
239
00:15:30,920 --> 00:15:34,200
Or we'll come to your officewith a warrant and a news crew.
240
00:16:22,760 --> 00:16:24,840
Sure you weren't followed?
241
00:16:24,880 --> 00:16:26,560
No. Are you?
242
00:16:27,320 --> 00:16:29,600
So, what do you have?
243
00:16:29,640 --> 00:16:31,600
A story about Gaddafi
and the LIA.
244
00:16:31,640 --> 00:16:32,840
What about it?
245
00:16:32,880 --> 00:16:34,400
There's something off there,all right,
246
00:16:34,440 --> 00:16:36,520
but you went after
the wrong target.
247
00:16:36,560 --> 00:16:40,560
NYL is working forthe Americans.
248
00:16:40,600 --> 00:16:42,040
You mean the government?
249
00:16:42,080 --> 00:16:44,280
More powerful
than the government.
250
00:16:45,080 --> 00:16:46,440
But the graves?
251
00:16:46,480 --> 00:16:48,360
-Those weren't graves.
-I saw them.
252
00:16:49,520 --> 00:16:51,760
We all saw them.
253
00:16:51,800 --> 00:16:53,560
The video's a fake.
254
00:16:53,600 --> 00:16:57,720
Staged by somebody
who wanted to cause
military intervention,
255
00:16:57,760 --> 00:17:01,160
so that Gaddafi
ends up like Saddam.
256
00:17:04,800 --> 00:17:06,240
You're lying.
257
00:17:09,040 --> 00:17:10,520
I wish I was.
258
00:17:11,440 --> 00:17:14,800
Ten thousand dead,
55,000 wounded...
259
00:17:15,720 --> 00:17:17,560
and it never happened.
260
00:17:17,600 --> 00:17:20,160
The videos, the photos,
they were taken years ago.
261
00:17:27,520 --> 00:17:30,640
What you saw was a cemetery.
Here's the proof.
262
00:17:32,520 --> 00:17:35,160
If you have the proof,
why don't you just run it?
263
00:17:35,200 --> 00:17:37,280
'Cause I workfor those bastards, remember?
264
00:17:38,560 --> 00:17:40,280
My consciencebrings me to you.
265
00:17:40,320 --> 00:17:44,400
But that does not outweigh mydesire to watch my kids grow up.
266
00:17:46,200 --> 00:17:48,240
[train brakes squeal]
267
00:17:48,280 --> 00:17:50,000
Duval saysI can trust you.
268
00:17:50,880 --> 00:17:52,480
You can.
269
00:18:06,200 --> 00:18:07,560
[male newscaster]
He's being urged to accept
270
00:18:07,600 --> 00:18:10,000
a humiliating
financial rescue...
271
00:18:10,040 --> 00:18:11,600
What news?
272
00:18:11,640 --> 00:18:13,560
[Eleanor] Irish housing shares
are starting to fall in.
273
00:18:13,600 --> 00:18:16,760
The VaR is costing us millions
every minute we do nothing.
274
00:18:16,800 --> 00:18:19,040
I'll be backwithin the hour.
275
00:18:24,840 --> 00:18:26,600
Fuck it. This is going
to the trading desk.
276
00:18:26,640 --> 00:18:29,160
No. You can't send thisto Jason, Kalim.
277
00:18:29,200 --> 00:18:31,440
You can't short this.
278
00:18:31,480 --> 00:18:33,880
Do you not know
what we look like out there?
279
00:18:33,920 --> 00:18:35,360
Acheng, Davenport, Libya.
280
00:18:35,400 --> 00:18:37,200
People are saying
that Massimo's lost his touch,
281
00:18:37,240 --> 00:18:38,520
that we're finished.
282
00:18:38,560 --> 00:18:41,600
Massimo said no.Are they really saying that?
283
00:18:41,640 --> 00:18:43,600
We need to help him out
together, as a team.
284
00:18:43,640 --> 00:18:45,960
Like not missing out
on the sale of the century.
285
00:18:46,000 --> 00:18:48,120
Maybe he knowsmore than we do.
286
00:18:48,160 --> 00:18:49,760
Also, the VaR is networked in.
287
00:18:49,800 --> 00:18:52,400
As soon as someone breaks
the rules, it's out there.
288
00:18:53,240 --> 00:18:55,440
What if we changed the rules?
289
00:18:56,280 --> 00:18:58,640
We would need a tech expert.
290
00:19:01,560 --> 00:19:02,800
Huh.
291
00:19:04,440 --> 00:19:05,680
What?
292
00:19:07,200 --> 00:19:10,800
Mr. Ruggero?
This way, please.
293
00:19:11,760 --> 00:19:13,320
[clears throat]
294
00:19:15,800 --> 00:19:17,000
How can I help you?
295
00:19:17,040 --> 00:19:19,320
-[door closes]
-[beeping]
296
00:19:19,360 --> 00:19:21,760
Interview started 12:20,
297
00:19:21,800 --> 00:19:24,520
Detective Inspector Bale
and DS Winks present.
298
00:19:28,200 --> 00:19:29,920
[Bale]
New evidence has come to light
299
00:19:29,960 --> 00:19:31,480
about your friend
Edward Stuart.
300
00:19:31,520 --> 00:19:34,080
-He wasn't my friend.-[Winks] No, he wasn't, was he?
301
00:19:35,320 --> 00:19:38,120
Seems Mr. Stuartdidn't fall to his death,
302
00:19:38,160 --> 00:19:40,000
but rather was pushed.
303
00:19:43,160 --> 00:19:44,720
You know that for a fact?
304
00:19:44,760 --> 00:19:48,040
Did you know Mr. Stuart
gathered a dossier about you?
305
00:19:50,040 --> 00:19:51,560
No.
306
00:19:51,600 --> 00:19:53,360
Who told you that he did?
307
00:19:53,400 --> 00:19:55,280
Seems he was
gathering information
308
00:19:55,320 --> 00:19:57,680
to stop you
from getting the vice-CEO job.
309
00:19:57,720 --> 00:20:02,200
Detailing all your questionable
trading practices.
310
00:20:03,480 --> 00:20:06,200
-May I see the dossier?
-No, you may not.
311
00:20:07,320 --> 00:20:10,360
I don't engage inquestionable trading practices.
312
00:20:10,400 --> 00:20:13,720
In any case,
it seems you and Mr. Stuart
313
00:20:13,760 --> 00:20:16,120
had quite the rivalry.
314
00:20:18,560 --> 00:20:19,680
[soft chuckle]
315
00:20:21,960 --> 00:20:24,000
You're not suggesting...
316
00:20:25,040 --> 00:20:26,760
I'm in the frame for this?
317
00:20:32,800 --> 00:20:36,560
A man was murdered in front offriends and colleagues.
318
00:20:36,600 --> 00:20:39,360
A wife and children
are grieving.
319
00:20:39,400 --> 00:20:41,160
And you are telling me that
320
00:20:41,200 --> 00:20:44,000
"Massimo and Ed
didn't like each other"
321
00:20:44,040 --> 00:20:45,560
is your working theory?
322
00:20:45,600 --> 00:20:47,400
Really?
323
00:20:48,600 --> 00:20:50,680
You're what I'd callan underperforming asset.
324
00:20:55,840 --> 00:20:57,360
Can I go?
325
00:21:02,400 --> 00:21:10,400
Claire?
326
00:21:15,520 --> 00:21:18,600
Ed was murdered and I knew it.I knew he wouldn't leave me.
327
00:21:19,560 --> 00:21:21,000
He was what?
328
00:21:22,400 --> 00:21:24,160
The policehave incontrovertible evidence
329
00:21:24,200 --> 00:21:25,760
that he didn't jump.
330
00:21:27,640 --> 00:21:29,120
Oh, my God.
331
00:21:29,160 --> 00:21:31,320
Claire, I'm so sorry.
332
00:21:31,360 --> 00:21:33,200
Do they have any idea
who, why?
333
00:21:33,240 --> 00:21:34,680
[Claire]But I'll find it.
334
00:21:34,720 --> 00:21:37,040
If he was murdered,
it was over fucking money.
335
00:21:37,080 --> 00:21:39,760
And if it's about money,
there has to be evidence of it
336
00:21:39,800 --> 00:21:40,960
somewhere in this room.
337
00:21:41,000 --> 00:21:43,000
Okay. I'll help you look.
338
00:21:45,200 --> 00:21:46,560
You know what, Nina?
339
00:21:46,600 --> 00:21:48,760
I need to be alone.
340
00:21:48,800 --> 00:21:51,120
Of course.
341
00:22:09,680 --> 00:22:11,040
[cries]
342
00:22:14,360 --> 00:22:16,400
[cell phone vibrates]
343
00:22:21,040 --> 00:22:23,800
-Yes?
-We were right about Libya,
344
00:22:23,840 --> 00:22:25,160
just not in the way we thought.
345
00:22:25,200 --> 00:22:27,360
Sofia, this is over.
Don't call me again.
346
00:22:27,400 --> 00:22:28,720
Are you kidding me?
347
00:22:28,760 --> 00:22:30,920
I'm telling you
I have new information.
348
00:22:30,960 --> 00:22:32,080
I don't give a shit.
349
00:22:32,120 --> 00:22:33,720
-Wait.
-[line disconnects]
350
00:22:38,840 --> 00:22:40,360
[indistinct chattering]
351
00:22:40,400 --> 00:22:43,520
The images of the graves
were faked, without a doubt.
352
00:22:43,560 --> 00:22:45,600
That body count was confirmed
353
00:22:45,640 --> 00:22:48,200
by the Libyan delegation
to the ICC.
354
00:22:48,240 --> 00:22:50,560
[Sofia] It was confirmedby a man named Sayed Al Shanuka,
355
00:22:50,600 --> 00:22:54,560
who's been getting backhanders
from the LIA.
356
00:22:54,600 --> 00:22:58,120
But Gaddafi was evenless of a threatto the Americans and Saddam,
357
00:22:58,160 --> 00:22:59,400
so why take him out?
358
00:22:59,440 --> 00:23:01,480
And that's the right question,
359
00:23:01,520 --> 00:23:03,760
to which I don't have
an answer yet.
360
00:23:05,200 --> 00:23:06,600
You did good, Sof.
361
00:23:06,640 --> 00:23:09,120
-Thanks.
-Send me the files,
362
00:23:09,160 --> 00:23:12,240
and fix the situation
with Massimo, will you?
363
00:23:15,000 --> 00:23:16,360
Uh, yes, I will.
364
00:23:16,400 --> 00:23:19,080
Just let me get them
organized first, okay?
365
00:23:20,240 --> 00:23:21,520
How long will that take?
366
00:23:21,560 --> 00:23:25,040
Not long. I'll send them
tomorrow, all right?
367
00:23:25,080 --> 00:23:27,080
-All right.
-Okay.
368
00:23:32,720 --> 00:23:34,480
[Bale]
How long has he been here?
369
00:23:34,520 --> 00:23:37,560
Since his wife threw him
out of the house.
370
00:23:37,600 --> 00:23:39,200
[knocks]
371
00:23:41,760 --> 00:23:42,920
Yeah?
372
00:23:42,960 --> 00:23:44,680
Detective InspectorBale and DS Winks.
373
00:23:44,720 --> 00:23:46,440
Yeah, I know who you are.
What do you want?
374
00:23:46,480 --> 00:23:48,280
It's about
Edward Stuart's death.
375
00:23:49,480 --> 00:23:51,000
I didn't have anything
to do with that.
376
00:23:51,040 --> 00:23:53,080
We believe
Massimo Ruggero does.
377
00:23:57,720 --> 00:23:59,200
Okay.
378
00:24:05,280 --> 00:24:07,040
[message alert]
379
00:25:47,800 --> 00:25:49,200
[screaming]
380
00:26:05,920 --> 00:26:08,200
[no audio]
381
00:26:11,240 --> 00:26:12,600
[passkey beeps]
382
00:26:18,880 --> 00:26:20,080
What are you doing here?
383
00:26:20,120 --> 00:26:21,760
Cheers, mate.
384
00:26:21,800 --> 00:26:25,280
I, uh... I told the policewhat I know about Massimo.
385
00:26:26,720 --> 00:26:29,440
About Carrie showing upto the club that night.
386
00:26:29,480 --> 00:26:32,040
Massimo thinking Ed sent her.
387
00:26:33,560 --> 00:26:35,120
Why would you
tell the police that?
388
00:26:35,160 --> 00:26:37,520
They think Massimomurdered Ed.
389
00:26:37,560 --> 00:26:39,040
That's crazy.
390
00:26:39,080 --> 00:26:40,600
Is it?
391
00:26:41,800 --> 00:26:43,840
Paul, why would you
tell them anything?
392
00:26:43,880 --> 00:26:45,360
Max gassed me after ten years
393
00:26:45,400 --> 00:26:46,880
in the fucking trenchestogether.
394
00:26:46,920 --> 00:26:49,040
Ten fucking years, mate.
395
00:26:49,960 --> 00:26:51,080
He had his reasons.
396
00:26:51,120 --> 00:26:52,360
Yeah, well,to hell with him.
397
00:26:52,400 --> 00:26:54,680
He's gonna be charged
with murder.
398
00:26:54,720 --> 00:26:56,080
Massimo's fucked.
399
00:26:56,120 --> 00:26:58,160
See you around.
400
00:27:01,440 --> 00:27:03,360
-[elevator chimes]
-[doors slide open]
401
00:27:10,320 --> 00:27:11,960
You look happy.
402
00:27:12,000 --> 00:27:14,080
Well, why shouldn't I be?
403
00:27:14,120 --> 00:27:15,440
My career's on the rise.
404
00:27:15,480 --> 00:27:17,920
Especially now
that Ed's gone.
405
00:27:17,960 --> 00:27:20,400
You climbed on the back
of just about everyone else
406
00:27:20,440 --> 00:27:22,440
in this building
to get there.
407
00:27:22,480 --> 00:27:24,080
Well, insult me
while you can.
408
00:27:24,120 --> 00:27:25,800
I shan't have to put upwith it for long.
409
00:27:25,840 --> 00:27:27,240
Why is that?
410
00:27:28,760 --> 00:27:30,200
I think you know.
411
00:27:32,120 --> 00:27:34,800
You've been talking
to the police.
412
00:27:34,840 --> 00:27:37,000
I hardly need to, do I?
413
00:27:37,040 --> 00:27:38,880
Everyone knows
about your whore wife.
414
00:27:38,920 --> 00:27:41,040
-[grunts]
-Get up!
415
00:27:44,120 --> 00:27:46,200
-[rapid beeping]
-[yelps]
416
00:27:54,880 --> 00:27:56,360
Massimo.
417
00:27:58,440 --> 00:28:01,040
-It's okay.
-[laughs]
418
00:28:09,800 --> 00:28:12,400
Have you lost your mind?
419
00:28:12,440 --> 00:28:14,760
-Chris could press charges.
-I can't help that.
420
00:28:14,800 --> 00:28:17,800
You assaulted an officerof the bank, in this building!
421
00:28:17,840 --> 00:28:19,600
I want an explanation,
422
00:28:19,640 --> 00:28:21,800
and you're not leaving hereuntil I get it.
423
00:28:22,760 --> 00:28:24,560
The police think
someone killed Ed.
424
00:28:25,840 --> 00:28:28,360
And they think it was me.
425
00:28:28,400 --> 00:28:29,760
Why would they think that?
426
00:28:29,800 --> 00:28:31,560
Because Chris Bailey
has been feeding them
427
00:28:31,600 --> 00:28:34,280
a fucking character
assassination, for a start.
428
00:28:34,320 --> 00:28:35,680
Why would he do that?
429
00:28:35,720 --> 00:28:38,320
Because he wants
the vice-CEO job, Dominic.
430
00:28:38,360 --> 00:28:40,200
When did you learn this?
431
00:28:40,240 --> 00:28:42,520
Yesterday afternoon.
432
00:28:42,560 --> 00:28:44,960
And you didn't think
to tell me at once?
433
00:28:45,000 --> 00:28:46,400
[Massimo]It seems I wasn't the only one.
434
00:28:46,440 --> 00:28:48,400
[Dominic]
No, clearly you weren't.
435
00:28:49,520 --> 00:28:51,360
The idea you'd
murder somebody is absurd.
436
00:28:51,400 --> 00:28:54,320
Today's incident
notwithstanding.
437
00:28:55,760 --> 00:28:57,920
Okay, I want you to go home,
I want you to get some rest.
438
00:28:57,960 --> 00:28:59,960
And I am going to persuade Chrisnot to press charges,
439
00:29:00,000 --> 00:29:04,080
and then I'm going to makethis ridiculous investigationgo away.
440
00:29:06,920 --> 00:29:09,040
Okay.
441
00:29:25,080 --> 00:29:28,040
[woman indistinct over PA]
442
00:29:48,280 --> 00:29:50,200
Is there a problem?
443
00:29:50,240 --> 00:29:52,480
No problem.The material is good.
444
00:29:52,520 --> 00:29:55,720
Then what's this about?
Meeting once was risky enough.
445
00:29:55,760 --> 00:29:58,040
I need some more information
446
00:29:58,080 --> 00:29:59,680
about a womancalled Carrie Price.
447
00:29:59,720 --> 00:30:00,960
Who the fuck is that?
448
00:30:01,000 --> 00:30:02,840
That's what I need youto find out.
449
00:30:02,880 --> 00:30:04,800
That wasn't partof the deal.
450
00:30:04,840 --> 00:30:06,480
It is now.
451
00:30:07,280 --> 00:30:08,680
You work for the Americans.
452
00:30:08,720 --> 00:30:10,680
They'll give you information
if you ask.
453
00:30:10,720 --> 00:30:12,920
They might.
Depends who she is.
454
00:30:12,960 --> 00:30:15,240
It might also be
a giant red flag.
455
00:30:15,280 --> 00:30:17,240
I'm taking risks too,McKenna.
456
00:30:17,280 --> 00:30:18,840
Get me what I need,or find someone else
457
00:30:18,880 --> 00:30:21,400
to spill your leaks,okay?
458
00:30:33,400 --> 00:30:35,280
-Mr. Rigby?
-Yes?
459
00:30:35,320 --> 00:30:38,280
Won't you please come in?
Mr. Trevor will see you now.
460
00:30:39,480 --> 00:30:41,320
-[knock at door]
-[door opens]
461
00:30:41,360 --> 00:30:44,560
Mr. Rigby, would you likea tea or coffee?
462
00:30:44,600 --> 00:30:47,680
I've already been asked
actually, but no, thanks.
463
00:30:47,720 --> 00:30:50,240
I'm not quite sure why I'm here,to be honest.
464
00:30:50,280 --> 00:30:51,960
I've been told that you've beenmaking enquiries
465
00:30:52,000 --> 00:30:56,080
into a womancalled Carrie Price.
466
00:30:56,120 --> 00:30:58,200
[Terence]
Who told you that?
467
00:30:58,240 --> 00:30:59,720
I take ityou've found it difficult
468
00:30:59,760 --> 00:31:01,840
to learn much of anything.
469
00:31:01,880 --> 00:31:05,040
I can't confirm or deny anythingof what you're asking me.
470
00:31:05,080 --> 00:31:09,600
Of course not.You take client confidentialityvery seriously.
471
00:31:09,640 --> 00:31:10,960
I respect that.
472
00:31:11,000 --> 00:31:14,560
You're quite a goodinvestigator, Mr. Rigby.
473
00:31:14,600 --> 00:31:16,320
But...
474
00:31:16,360 --> 00:31:20,240
it seems you haveyour fair share of challenges.
475
00:31:20,280 --> 00:31:23,000
Two ex-wivesand a child to support,
476
00:31:23,040 --> 00:31:24,760
and you're an alcoholic,isn't that right?
477
00:31:24,800 --> 00:31:28,360
-What the hell is this about?
-I have no desire to harm you.
478
00:31:28,400 --> 00:31:32,360
I'd like to help you, in fact,provided you help me.
479
00:31:36,600 --> 00:31:39,000
That's £50,000.
480
00:31:40,120 --> 00:31:42,360
-For what?
-Nothing too difficult.
481
00:31:42,400 --> 00:31:44,080
You've been telling your client
482
00:31:44,120 --> 00:31:47,080
you can't find any informationon Carrie Price.
483
00:31:47,120 --> 00:31:50,280
You go right ontelling him that.
484
00:31:54,560 --> 00:31:55,760
I really...
485
00:31:55,800 --> 00:31:57,560
I really don't think
I should be doing this.
486
00:31:57,600 --> 00:32:01,760
Massimo told us to follow
the rules right to the letter.
487
00:32:01,800 --> 00:32:03,680
And we are, right?
488
00:32:04,760 --> 00:32:06,240
This is just...
489
00:32:07,320 --> 00:32:09,640
changing the rules.
490
00:32:09,680 --> 00:32:11,480
Mm.
491
00:32:11,520 --> 00:32:14,840
FYI, we get caught,
we'll be prosecuted
for computer fraud.
492
00:32:14,880 --> 00:32:17,320
Look, the VaR is like
the skin on your balls.
493
00:32:17,360 --> 00:32:21,040
You can stretch it
as much as you like.
494
00:32:21,080 --> 00:32:22,720
Nice, Kalim.
495
00:32:22,760 --> 00:32:25,240
It's set on
a case-by-case basis.
496
00:32:25,280 --> 00:32:29,760
We just need to set it for wherewe want on each of the trades.
497
00:32:31,200 --> 00:32:33,440
-For the Irish bonds.
-Yes.
498
00:32:34,960 --> 00:32:36,040
[sighs]
499
00:32:36,080 --> 00:32:37,720
If...
500
00:32:37,760 --> 00:32:40,960
If we linked a Raspberry PI
to some kind of a minicomputer
501
00:32:41,000 --> 00:32:42,880
positioned on a switch
that connects
502
00:32:42,920 --> 00:32:45,880
the Risk Management computers
to the central network,
503
00:32:45,920 --> 00:32:49,600
we can control it remotely,
altering the data traffic.
504
00:32:50,400 --> 00:32:53,040
You understood that, right?
505
00:32:53,080 --> 00:32:54,400
But even if this works,
506
00:32:54,440 --> 00:32:56,160
what's gonna happen
when we start cashing in?
507
00:32:56,200 --> 00:32:58,200
Chris will see
we've made millions.
508
00:32:58,240 --> 00:32:59,800
So will Massimo.
509
00:32:59,840 --> 00:33:02,040
You ever heard about
the team who got fired
510
00:33:02,080 --> 00:33:05,080
for making the bank millions?
511
00:33:40,880 --> 00:33:42,400
[laughter]
512
00:33:50,720 --> 00:33:52,120
[gunfire]
513
00:34:00,200 --> 00:34:03,120
[general] And so,we gather today to commemorate
514
00:34:03,160 --> 00:34:05,560
those who lost their lives,
515
00:34:05,600 --> 00:34:10,080
so that freedom might endure
for future generations.
516
00:34:14,160 --> 00:34:16,320
I'm sorry Nina
couldn't join us.
517
00:34:16,360 --> 00:34:17,520
So is she.
518
00:34:17,560 --> 00:34:20,040
But Nina has a lotgoing on right now.
519
00:34:21,000 --> 00:34:22,560
Did you come here
to change my mind?
520
00:34:22,600 --> 00:34:25,240
The German Finance Ministry
needs my support
521
00:34:25,280 --> 00:34:26,920
just as much
as I need yours.
522
00:34:26,960 --> 00:34:28,400
Really?
523
00:34:28,440 --> 00:34:31,520
Some think
the dollar's time is up.
524
00:34:32,640 --> 00:34:34,600
The euro's not as strongas it used to be.
525
00:34:35,680 --> 00:34:39,480
In any case,Rheinthaler Bank is even weaker.
526
00:34:39,520 --> 00:34:42,880
Whatever the liability,
it's ours.
527
00:34:42,920 --> 00:34:44,560
And we'll deal with it.
528
00:34:44,600 --> 00:34:46,960
By letting Rheinthalerdeclare bankruptcy?
529
00:34:47,000 --> 00:34:49,200
You exaggerate.
530
00:34:49,240 --> 00:34:51,400
The Irish governmentdoesn't accept the bailout.
531
00:34:51,440 --> 00:34:53,240
Irish City Bankwill go bankrupt.
532
00:34:53,280 --> 00:34:55,960
And if it goes bankrupt,Rheinthaler will, too.
533
00:34:56,000 --> 00:35:00,280
Can you imaginethe loss of confidencein your government
534
00:35:00,320 --> 00:35:03,600
if the largest bank in Germanywere to collapse?
535
00:35:06,080 --> 00:35:08,520
Even if the bailout
were approved,
536
00:35:08,560 --> 00:35:11,920
it wouldn't help us
with our unguaranteed bonds.
537
00:35:11,960 --> 00:35:13,320
No, it wouldn't.
538
00:35:14,520 --> 00:35:17,200
Which is why you needfriends like me.
539
00:35:17,240 --> 00:35:19,840
What is it you want,
Dominic?
540
00:35:19,880 --> 00:35:21,640
I think you know.
541
00:35:22,800 --> 00:35:25,760
A drastic slowdownin the growth of housing stock.
542
00:35:25,800 --> 00:35:28,320
The chronic shortage
of new houses.
543
00:35:28,360 --> 00:35:30,680
The Central Statistics office
has...
544
00:35:30,720 --> 00:35:32,600
[continues indistinct]
545
00:35:54,640 --> 00:35:56,760
[elevator chimes]
546
00:35:56,800 --> 00:35:59,600
[woman on TV] Cash services is one of our key industries...
547
00:36:05,000 --> 00:36:06,160
Well?
548
00:36:06,200 --> 00:36:08,720
Start trading.
549
00:36:08,760 --> 00:36:10,520
The VaR
will automatically adjust
550
00:36:10,560 --> 00:36:12,680
to whatever orders
you place.
551
00:36:13,960 --> 00:36:17,200
[phone ringing]
552
00:36:18,320 --> 00:36:19,560
Massimo.
553
00:36:19,600 --> 00:36:20,960
[chuckles] You all right?
554
00:36:21,000 --> 00:36:23,000
[Massimo on phone]
What's going on over there?
555
00:36:23,040 --> 00:36:26,280
Not much. It's quiet here.
556
00:36:26,320 --> 00:36:28,120
Did you look into
the Irish housing bonds?
557
00:36:28,160 --> 00:36:30,360
Yeah, yeah.
Yeah, yeah, but I didn't
558
00:36:30,400 --> 00:36:32,040
find anything interesting.
559
00:36:32,080 --> 00:36:33,240
What did you find?
560
00:36:33,280 --> 00:36:35,520
Oh, exposure,
like we thought.
561
00:36:35,560 --> 00:36:36,600
How much?
562
00:36:36,640 --> 00:36:39,800
Um, spread across the top banksin France,
563
00:36:39,840 --> 00:36:41,880
Germany and Holland...
564
00:36:41,920 --> 00:36:43,040
looks like about five percent.
565
00:36:43,080 --> 00:36:44,440
Five percent.
566
00:36:44,480 --> 00:36:46,200
Most of its with
Rheinthaler Bank.
567
00:36:48,200 --> 00:36:50,080
Did I miss something?
568
00:36:53,640 --> 00:36:56,040
[Wade]This is what we think of as war.
569
00:36:56,080 --> 00:36:59,360
In 1956, Britain,
France and Israel
570
00:36:59,400 --> 00:37:03,040
attacked Egypt after Nasser
nationalized the Suez Canal.
571
00:37:03,080 --> 00:37:06,760
Some 4,000 people were killed,
572
00:37:06,800 --> 00:37:09,680
nearly 5,000 others wounded.
573
00:37:11,360 --> 00:37:14,720
The United States
strongly opposed the war,
574
00:37:14,760 --> 00:37:18,600
but could hardly take
military action
against a European ally.
575
00:37:18,640 --> 00:37:21,040
So, what did they do?
576
00:37:22,560 --> 00:37:25,000
They attacked
the British economy.
577
00:37:26,600 --> 00:37:30,640
President Eisenhower ordered
the Central American Bank
578
00:37:30,680 --> 00:37:33,560
to sell off billions
of British pounds.
579
00:37:33,600 --> 00:37:38,280
Within weeks,
the currency was so weakened,
580
00:37:38,320 --> 00:37:42,960
they had no choice
but to withdraw their forces.
581
00:37:43,000 --> 00:37:46,960
The most powerful weapon
of our time
582
00:37:47,000 --> 00:37:51,600
is not guns, or tanks,
or artillery.
583
00:37:52,560 --> 00:37:54,280
It's finance.
584
00:37:57,240 --> 00:37:59,360
How's my boy Oliver?
585
00:37:59,400 --> 00:38:02,040
[Massimo]
Bright. He's learning fast.
586
00:38:02,080 --> 00:38:04,160
[Wade]
As I expected.
587
00:38:04,200 --> 00:38:07,160
I see a lot of potentialin that one.
588
00:38:09,200 --> 00:38:11,640
What do you know
about Irish housing bonds?
589
00:38:11,680 --> 00:38:13,880
Ha! Timely question.
590
00:38:13,920 --> 00:38:16,000
-Milk?
-No, thank you.
591
00:38:17,000 --> 00:38:20,040
They're implodingas we speak.
592
00:38:20,080 --> 00:38:22,200
The Rheinthaler Bank
is holding something like
593
00:38:22,240 --> 00:38:24,760
three billion euros
worth of them.
594
00:38:24,800 --> 00:38:26,280
They were greedy.
595
00:38:26,320 --> 00:38:28,080
Instead of lending money
to Germans
596
00:38:28,120 --> 00:38:32,240
who wanted to buy a house,
or a car, or start a business,
597
00:38:32,280 --> 00:38:34,840
they invested in high-risk
housing bonds
598
00:38:34,880 --> 00:38:36,640
anyone could see would implode.
599
00:38:36,680 --> 00:38:39,400
They make five percent
of the top European banks'
holdings.
600
00:38:39,440 --> 00:38:41,840
So why wouldn't Dominic
want us to short them?
601
00:38:41,880 --> 00:38:43,760
The first thing we did
was tighten the VaR.
602
00:38:43,800 --> 00:38:46,800
-Putting a collar
around your neck.
-Mm.
603
00:38:46,840 --> 00:38:48,480
He must have his reasons.
604
00:38:49,280 --> 00:38:50,560
What, though?
605
00:38:50,600 --> 00:38:53,160
We could make millions
shorting the Irish bonds
606
00:38:53,200 --> 00:38:55,320
if they're about
to go bankrupt.
607
00:38:58,000 --> 00:39:01,640
[Massimo] They aren't about
to go bankrupt.
608
00:39:02,600 --> 00:39:05,760
Someone's guaranteeing
those bonds.
609
00:39:05,800 --> 00:39:07,960
I couldn't possibly say.
610
00:39:08,000 --> 00:39:09,960
Although...
611
00:39:10,000 --> 00:39:11,720
the European Central Bank
612
00:39:11,760 --> 00:39:13,920
is meeting this evening
in Dublin.
613
00:39:13,960 --> 00:39:18,800
They wouldn't force
the Irish government
to save their bank
614
00:39:18,840 --> 00:39:21,800
in order to save the Germans.
615
00:39:22,760 --> 00:39:24,280
They couldn't...
616
00:39:26,600 --> 00:39:29,240
[Kalim]
How are we coming along?
617
00:39:29,280 --> 00:39:30,640
[Oliver]
Yeah, the Raspberry's
ticking along.
618
00:39:30,680 --> 00:39:34,200
[Kalim]
So it's 260 million so far.
619
00:39:38,400 --> 00:39:41,000
Come on, let's go. Let's go.
620
00:39:43,800 --> 00:39:45,960
[Eleanor] We thought
you'd gone home for the day.
621
00:39:46,000 --> 00:39:47,280
Get everyone on the floor
622
00:39:47,320 --> 00:39:48,840
to go longon Irish housing bonds.
623
00:39:48,880 --> 00:39:51,560
But, Massimo, those bonds
are about to turn to shit.
624
00:39:51,600 --> 00:39:53,640
No, they're not.
625
00:39:53,680 --> 00:39:56,640
The Irish government's
going to guarantee them.
626
00:39:56,680 --> 00:39:58,880
They couldn't possibly.
627
00:39:58,920 --> 00:40:00,360
Why would the Irish government
628
00:40:00,400 --> 00:40:02,360
incur a deficit
to shore up a private bank?
629
00:40:02,400 --> 00:40:04,160
They don't care about
saving housing bonds.
630
00:40:04,200 --> 00:40:05,640
They don't,but the Germans do.
631
00:40:06,920 --> 00:40:08,080
As do the French and the Dutch.
632
00:40:08,120 --> 00:40:10,680
-Oh, shit.
-[Massimo] Yes.
633
00:40:10,720 --> 00:40:13,360
They'll use the European CentralBank where they're in charge.
634
00:40:13,400 --> 00:40:15,000
The Irish banks will be safe
635
00:40:15,040 --> 00:40:18,000
because the ECB will force
the Irish government to do it.
636
00:40:18,880 --> 00:40:20,120
They'd save the banks
637
00:40:20,160 --> 00:40:21,960
at the expense
of their own people
638
00:40:22,000 --> 00:40:23,360
who pay with their pensions,
639
00:40:23,400 --> 00:40:25,800
their wages,
their health care.
640
00:40:25,840 --> 00:40:28,560
ECB will opt for the cheapestsolution for the economy.
641
00:40:28,600 --> 00:40:31,600
So, it's far less expensiveto save the Irish bond holders
642
00:40:31,640 --> 00:40:33,880
than a chunk ofthe European banking system.
643
00:40:33,920 --> 00:40:36,720
Turning private debt
into public debt.
644
00:40:36,760 --> 00:40:38,040
That's armed robbery.
645
00:40:40,680 --> 00:40:42,160
Get to work.
646
00:40:45,960 --> 00:40:47,480
I have a confession to make.
647
00:40:49,640 --> 00:40:51,640
We've been shorting the bonds
all afternoon.
648
00:40:53,400 --> 00:40:56,320
But I expressly told younot to do that.
649
00:41:02,600 --> 00:41:03,880
All of you?
650
00:41:03,920 --> 00:41:05,320
I...
651
00:41:05,360 --> 00:41:08,880
I put a Raspberry PIin the Risk Management service.
652
00:41:08,920 --> 00:41:10,160
You did what?
653
00:41:10,200 --> 00:41:11,560
I'm sorry.
654
00:41:11,600 --> 00:41:13,600
You knew about this, too?
655
00:41:16,360 --> 00:41:19,680
Don't take it out on Oliver.
We made him do it.
656
00:41:19,720 --> 00:41:21,600
In violation of Chris' VaR?
657
00:41:25,960 --> 00:41:28,240
How much have you shorted?
658
00:41:29,880 --> 00:41:32,080
Two-hundred and sixty million.
659
00:41:35,080 --> 00:41:36,840
[exhales]
660
00:41:36,880 --> 00:41:40,720
[Kalim] You've not exactly
been honest with us either.
661
00:41:40,760 --> 00:41:43,040
When were you
planning to tell us
662
00:41:43,080 --> 00:41:45,440
the police
think you killed Ed?
663
00:41:52,880 --> 00:41:54,440
Where did you hear that?
664
00:41:57,360 --> 00:41:58,880
But...
665
00:41:58,920 --> 00:42:01,160
this is ridiculous, right?
666
00:42:03,720 --> 00:42:05,280
It was Paul.
667
00:42:09,960 --> 00:42:12,040
Erase the short and go long.
668
00:42:12,080 --> 00:42:13,520
Now.
669
00:42:15,920 --> 00:42:17,320
Now!
670
00:42:32,680 --> 00:42:35,160
Senior bankers,
regulators and the government
671
00:42:35,200 --> 00:42:37,360
hammered out
the final details of a deal
672
00:42:37,400 --> 00:42:39,880
after hours
of feverish negotiations.
673
00:42:39,920 --> 00:42:41,600
In the previous 24 hours,
674
00:42:41,640 --> 00:42:44,600
the bank had suffered an
enormous fall in share prices.
675
00:42:44,640 --> 00:42:47,560
As a result,
many international investors
676
00:42:47,600 --> 00:42:49,240
became very worried about
the stability
677
00:42:49,280 --> 00:42:51,000
of the Irish financial system.
678
00:42:51,040 --> 00:42:53,200
[newscaster] Let's now go live
to the final announcement
679
00:42:53,240 --> 00:42:55,120
from an ECB official.
680
00:42:55,160 --> 00:42:57,200
[ECB official] In the name
of financial stability,
681
00:42:57,240 --> 00:43:01,440
the Irish government has made
the most responsible choice:
682
00:43:01,480 --> 00:43:03,960
to save the Irish Trader Bank
683
00:43:04,000 --> 00:43:07,080
and the other banks
at risk of bankruptcy
684
00:43:07,120 --> 00:43:09,200
through nationalization.
685
00:43:12,960 --> 00:43:16,000
[Eleanor]Come on, guys. Get back to work.
686
00:43:17,040 --> 00:43:18,680
Max, I don't know
what to say.
687
00:43:23,200 --> 00:43:24,640
I'm sorry.
688
00:43:54,400 --> 00:43:56,440
[exhales]
689
00:43:56,480 --> 00:43:59,560
[Sofia] I brought you somethingyou need to see.
690
00:44:10,160 --> 00:44:13,120
Your wife was arrested
in Virginia last summer
691
00:44:13,160 --> 00:44:15,000
for prostitution.
692
00:44:16,760 --> 00:44:19,360
I had someone looking, but...
693
00:44:19,400 --> 00:44:22,560
he said all Carrie's files
had been erased.
694
00:44:22,600 --> 00:44:26,440
That's because a lawyer
called William Trevor
had them sealed.
695
00:44:27,800 --> 00:44:29,880
You work for his biggest client.
696
00:44:29,920 --> 00:44:31,640
Dominic Morgan.
697
00:44:37,600 --> 00:44:39,520
She never called you?
698
00:44:42,000 --> 00:44:43,680
No.
699
00:44:49,280 --> 00:44:51,240
[Sofia]
My brother raised me
700
00:44:51,280 --> 00:44:53,640
after my parents died.
701
00:44:55,720 --> 00:44:57,360
When I was a kid...
702
00:44:58,200 --> 00:45:00,360
he shot himself.
703
00:45:01,720 --> 00:45:07,400
So I know how it feels
to live with regret.
704
00:45:13,320 --> 00:45:15,560
Why are you giving me this?
705
00:45:17,080 --> 00:45:20,360
Because you said
you wanted to know
why Ed Stuart died.
706
00:45:20,400 --> 00:45:22,200
So do I.
707
00:45:22,240 --> 00:45:23,760
[siren blares]
708
00:45:23,800 --> 00:45:26,480
[car door opens and slams]
709
00:45:28,800 --> 00:45:31,400
[recorder beeps]
710
00:45:31,440 --> 00:45:34,120
[Winks]
Interview started, 7:36 p.m.
711
00:45:34,160 --> 00:45:37,200
Detective Inspector Bale
and D.S. Winks present.
712
00:45:37,240 --> 00:45:40,000
Is that the dossier?
713
00:45:41,200 --> 00:45:42,960
Mrs. Stuart
found something else.
714
00:45:43,000 --> 00:45:46,360
Something her husband had gone
to a lot of trouble to hide.
715
00:45:46,400 --> 00:45:48,520
Ed Stuart's handwriting.
716
00:45:50,680 --> 00:45:53,800
Let me see and I'll tell you.
Looks like tranches of bonds.
717
00:45:53,840 --> 00:46:07,200
Massimo Ruggero.
718
00:46:10,960 --> 00:46:13,000
This is gonna send you
to prison.
719
00:46:14,120 --> 00:46:16,000
I just know it.
720
00:46:19,680 --> 00:46:21,560
[sighs]
721
00:46:32,320 --> 00:46:34,160
[phone ringing]
722
00:46:36,400 --> 00:46:40,320
Sir, a phone call for you.It's the crown prosecutor.
723
00:46:41,200 --> 00:46:44,120
[Winks]
Interview suspended, 7:38.
724
00:46:44,160 --> 00:46:45,800
[recorder beeps]
725
00:46:48,920 --> 00:46:50,600
[phone ringing]
726
00:47:28,960 --> 00:47:30,360
You're free to go.
727
00:47:32,200 --> 00:47:34,520
The case has been transferred
to Special Crimes.
728
00:47:34,560 --> 00:47:36,160
What does that mean?
729
00:47:36,200 --> 00:47:38,720
It means you've got friends
in high places.
730
00:47:42,120 --> 00:47:45,520
Look, I know youthink I did this.
731
00:47:46,760 --> 00:47:48,000
But at some point,
732
00:47:48,040 --> 00:47:49,560
you're going to realizeyou're wrong.
733
00:47:49,600 --> 00:47:52,560
And if thoseare linked to Ed's death...
734
00:47:53,640 --> 00:47:55,600
I can decode them.
735
00:47:59,360 --> 00:48:01,080
I need to see those papers.
736
00:48:04,200 --> 00:48:06,280
[overlapping voices
on recording]
737
00:48:06,320 --> 00:48:08,360
Fuck you! Fuck you!
738
00:48:08,400 --> 00:48:10,120
[Masuch on TV]
It's very good.
739
00:48:10,160 --> 00:48:14,480
I'm impressed by the depth
of the discussion in Ireland
740
00:48:14,520 --> 00:48:16,760
and the understanding
of complex
741
00:48:16,800 --> 00:48:19,160
economic financial
sector issues.
742
00:48:19,200 --> 00:48:24,320
But also,
when I come from the airport
with the taxi driver,
743
00:48:24,360 --> 00:48:26,720
they are often
very well informed.
744
00:48:26,760 --> 00:48:29,240
I must say,
very well informed.
745
00:48:44,120 --> 00:48:48,680
Klaus Masuch,
did your taxi driver tell you
746
00:48:48,720 --> 00:48:51,720
how the Irish people
are bewildered
747
00:48:51,760 --> 00:48:54,040
that we are required to pay
748
00:48:54,080 --> 00:48:58,120
unguaranteed bondholders
billions of euros
749
00:48:58,160 --> 00:49:01,840
for debts that the Irish peoplehave no relation to
750
00:49:01,880 --> 00:49:03,120
or no bearing with?
751
00:49:03,160 --> 00:49:05,160
Primarily to bail out
or to ensure
752
00:49:05,200 --> 00:49:08,160
the solvency
of European banks?
753
00:49:08,200 --> 00:49:10,880
[woman] Well, can we take
a couple together?
754
00:49:10,920 --> 00:49:12,400
I ask you then
to pass the mike,
755
00:49:12,440 --> 00:49:14,560
and we'll come back to you
for the second question.
756
00:49:14,600 --> 00:49:17,200
Now, why are
the Irish people required,
757
00:49:17,240 --> 00:49:19,040
under threat from the ECB,
758
00:49:19,080 --> 00:49:22,200
why are the Irish people
required to pay billions
759
00:49:22,240 --> 00:49:25,800
to unguaranteed bondholders
under threat to the ECB?
760
00:49:27,600 --> 00:49:29,320
You didn't answer the question
the last time,
761
00:49:29,360 --> 00:49:31,280
so maybe you'll answer it
this time.
762
00:49:31,320 --> 00:49:33,920
[woman] Well, I think he
doesn't have anything to add
763
00:49:33,960 --> 00:49:35,320
to what he's already said.
764
00:49:35,360 --> 00:49:37,160
-[Browne] Well, just a minute---[woman] Sorry...
765
00:49:37,200 --> 00:49:38,400
This isn't good--
766
00:49:38,440 --> 00:49:40,040
This isn't good enough.