Wall Street traders would absolutely love to unload junk to general public while making a 7-figure salary. The notion t
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Archived from the IMDb Discussion Forums — Margin Call
android_movie — 10 years ago(February 02, 2016 06:34 PM)
Wall Street traders would absolutely love to unload junk to general public while making a 7-figure salary. The notion that some head of trading desk suddenly grew a heart and didn't want to unload toxic assets at current market price because he knew better than others is absolutely ludicrous!
Show me the holes! -
android_movie — 10 years ago(March 07, 2016 03:57 PM)
BTW, I work in Wall Street, so I obviously don't hate Wall Street, do I?
Relationships are only useful as long as they are making money. If the situation is exactly how the movie portrays (2008 financial meltdown), your own survival takes precedence over anything else, and any trading desk head will absolutely unload all the junks before others find out (in fact, that's exactly what Goldman Sachs did). After all, after the massacre, who knows who will be left to have new relationship with?
Show me the holes! -
android_movie — 10 years ago(March 07, 2016 11:02 PM)
Wasn't GS a publicly traded company? If they held onto their toxic assets, then they'd be sued into the next century by their shareholders and anyone else who relied on them.
Ergh no Lehman Brothers and Bear Stearns were public companies too and they were brought down by the subprime crisis. Goldman Sachs was the first to start unloading all that toxic junk before anyone else had a clue what was happening, and Goldman Sachs certainly had no qualms pushing this junk to others.
Secretary of Treasury Hank Paulson (also ex-CEO of Goldman Sachs) let Lehman and Bear fail but when the cascading failure was threatening the top tier players like Goldman Sachs (counterparty risk), Hank started the wall street bailout.
Anyway, this is all recent history. You can look it up easily
Show me the holes! -
android_movie — 10 years ago(March 10, 2016 12:12 PM)
So, going back to your first comment then, by holding onto their toxic assets - unlike GS - Lehman was actually acting with a heart, and following it's collective conscience in not dumping their junk?
No. Lehman was too leveraged and acted too late. They tried to unload but everyone was trying to unload too by then. And when everyone tried to unload, the value of toxic junk went down even more.
Again, all recent history.
Show me the holes! -
paul-2219 — 10 years ago(March 14, 2016 12:03 AM)
Sam wasn't stupid. He knew it was sell or get holding crap by that end of that day, he was just an old time hand-shake kind of guy who didn't want to screw all the customers he'd spent so long trying to help.