Check it out.
The Gestapo's here
- 500 says heads'll roll. - 1,000 says it's you.
1,200.
THE OUTSIDER
8 YEARS EARLIER
To those of you joining our bank, welcome.
And congratulations.
You were chosen from thousands of candidates
to join a bank...
... that has become in recent years the world's #1 trading bank.
You were hired for your ability to excel collectively.
Joining Société Générale means joining the best of the best...
You dreamt of it.
Today, dream has become reality...
For we must become #1 ahead of #1!
This objective is based on financial management but also
on our ability...
When there's emotion...
we can move mountains.
Got a hanky?
Mathieu.
Jérôme.
Ask not what Société Générale can do for you...
That spirit, the team spirit, is our DNA.
Welcome, dear colleagues, and one last recommendation:
steer clear of the beaten track.
I'll see to it that you do. Thank you.
You seem hooked.
Kaplan's super well-known around the world.
- For his "emotion"? - Cut it out
I mean it. For traders, he's the reference.
He's a legend.
- Are you going to trading? - No.
But close. Middle office. You?
Risk control. It's my glamourous side.
You met him before he became a trader?
Yes, five years before.
And you didn't notice anything?
What do you mean?
Did he seem balanced?
No.
All he thought about was work.
Yeah, I'm on it.
Yup, I'll send it. Right away.
There it is, and updated data gives the trader pleasure.
Keller from trading just called. He's wired.
- I'll call. - He wants you on the floor.
On the floor?
- What now? - You think he bothered explaining?
- Watch it! - Sorry, guys.
Come on! 2-1 for Italy.
I'm Jérôme from middle...
10,000!
5,000 Euro Stoxx at first limit.
7,500 Stoxx!
5,000 more.
7,500 more.
If you bid like me...
I wouldn't dare.
You're leading.
Except for some asshole holding it back. Climb!
He's on the offer!
- I saw! - Incredible.
- It's going up. - It's paying off!
- Cash out at 10,000! -Yours 15,000!
- How much? - About a million.
And you?
Colin, gimme your 2 mill.
For truly I tell you,
he who relinquishes not all cannot be my disciple.
To be expected.
- Speak. - Jérôme, middle office.
- Then why are you here? - You called me.
Right! Over here.
You do that?
- Another problem? - The opposite.
I wanted to meet the time-saver.
You seem useful for an underling.
A nibble?
No, thanks.
- Not your thing? - Sure, but...
Favorite color?
Mine's yellow. Sort them.
I'm kidding.
I still see a few flaws.
Come learn something, bunch of clods!
How do I recover parity on the ADRs?
l can add functions with exchange rates.
List what needs improving and I'll fix it, ok?
Listen to him. Take my job and bang my wife!
She need it?
Gome in, I'm just kidding.
Forgive him for God forgives those who offend Him.
Next time, I slit your throat.
- Sorry. Got the message. - I forgive you.
Now go back to your stable.
Be courteous. Always courteous.
ONE YEAR LATER
Things are fine, but the job's a bit repetitive.
So, I spend my evenings improving the reporting programs.
Now everyone uses them. Even the traders.
That's wonderful. Isn't it?
Sure it is.
You here?
How observant. Hey, Guillaume.
Hi. Here are my parents.
Fabien Keller, trader at Société Générale.
Nice to meet you. This is a terrible table.
Mind you, you're closer to the food.
- What parts are we from? - Brittany.
Pont l'Abbé, next to Quimper.
- I had no idea! - Now you do.
Are you still working?
I have a hair salon. Jérôme helped out.
- Mom! - Dye jobs?
Stop it
My husband works in metal.
- Boiler works. - Good stuff.
Already a year, yet I know so little.
He's not chatty, but he learns fast.
Even for fine Japanese restaurants.
His recommendation.
Next time, I'll get you a better table.
Always pamper your parents.
- Where are you? - With the forlorn young lady.
Enjoy your lunch.
Tuki-makis are their specialty.
It was a pleasure.
Have a good one.
He's one of the bank's best traders.
Very nice man. Don't you agree, Louis?
No.
What did he say we should order?
You, Jérôme?
What he said, the tutti-thingies.
All right, we'll have the same, then.
Louis, for once we're here, at least pretend to be happy.
Put on a smile, Dad.
I'm happy you're here.
We're happy too.
Aren't we, Louis?
That's a yes.
Was that you on the phone?
Why?
God knows who hired you, but listen up.
We bring in money.
You cost money.
So do what I ask, when I ask.
I know my numbers are right.
They're utter crap.
So pop your thumb outta your ass!
No one talks to me like that.
Is that so?
Well. I just did.
What?
Where are you?
- Why? - You know about fish, right?
Fish?
Jérôme, over here!
You're doing it.
Tiago took a big hit. Now he has to wash it down.
So we blindfold you and you eat whatever you're fed.
You'll be the innocent feeder.
Wait a minute. I'm allergic to Tabasco.
I don't like chili!
He's worried.
Last time we made Nouredine down a bottle of Tabasco.
He screamed his way home.
I still have after-effects.
Ok, dinner's ready. Spin him around.
Cover his ears.
As a Breton, I figured you'd know how to fish.
To fish?
- No, I can't... - Don't wuss out.
- The owner'll see us. - No!
Shield us, boys.
At random.
- Take your pick! - It's sick.
Let your hair down.
Now or you're fired!
There you go.
- This is sick. - No it's not!
He's coming!
Nice catch!
Spitting it out costs 2K!
One!
Two!
Three!
Swallow.
Chew.
You didn't chew. It's gonna come back up!
- What was it? - Catch of the day.
I'm gonna barf!
Give the fisherman a hand.
Coming.
Colin, Jérôme. The guy I harass all day over the phone!
Thanks.
Don't worry, it's British humor.
Come see this.
No, I have a friend waiting.
- The guy from risk? - Yeah.
You're in with the wrong crowd.
I can't stand him. I'd love to smack him.
He's a good guy.
- Friend of yours? - Yeah.
No, we're your friends. And I'm your boss.
No, you're not.
Darn! We didn't tell him he's our new assistant.
- Seriously? - Would I lie?
It's not some prank?
You are now Peter, my new apostle.
Upon this rock I will build my profits.
- How can I thank you? - You're just our slave.
You'll suffer and the missus won't see you much.
There is no missus.
What? Single, with your looks?
Unbelievable. It's their loss.
If I weren't married...
Cut it out
I don't measure up, your wife's gorgeous.
- My wife is gorgeous? - Is she ever.
- You haven't seen her, then. - At the restaurant.
The restaurant. Yeah. I remember.
That wasn't my wife.
Right, I was a little lost there.
Moustafa, want me to revoke your green card?
Whoa, Colin! We're getting you a whore!
Let Tiago finish puking.
Let's toast.
Wait, listen to this one.
This guy gets pulled over by a cop, totally shit-faced.
"Have you been drinking?"
The guy hands him his glasses, "Here, that makes two glasses less."
Right.
Welcome to Delta One.
Coffee?
Sure, thanks.
Luciano. Call me Lulu.
The Delta One assistant?
Already in the boss's chair?
- No, I was - I'm kidding.
I'm kidding. Welcome.
Thanks.
Delicious.
I don't mess around with coffee. I have my own machine.
I know a good place for ties too.
Morning, girls.
Froger, my manager.
Coglione!
Last night I watched Lady and the Tramp with my kid.
- It reminded me of you two. - Why's that?
You're Lady and he's the tramp.
- BOH. - BO what?
Bit of humor. BOH.
Do I get a coffee?
Take 50 cents, the machine's down the hall.
- You're on my shit list. - As always.
Mine for 10 million at figure.
How much? Did you snort a baggie?
Refresh my positions. I forgot to enter a trade.
- In your book? - In your ass!
See Nikkei spiking? Fixing's gonna rock.
Hold, I'll ask.
- Basket reweighting in Eliott? - Wait.
Tiago, did you trade 500 RWE in aftermarket in front of Euwax?
- Fuck. - He forgot to confirm.
Am I hedged?
I'm on it.
Jérôme, I'm not hedged!
This one!
That's crap!
Get off my back!
- Can I go pee? - No, call risk to restart his process.
- What portfolio? - Use your head!
Got a stain.
- Gotcha. - Very funny.
200 says we make him crack.
Yours 500 DAX, market price.
Pull your fingers out!
You got two minutes.
This, on the double.
Put them here, please.
Right here.
- My computer, in five. - You got it.
- Not crying yet? - I'm good, thanks.
- Getting ahead or behind? - Get lost.
Bit of humor.
How's the vacation?
Want a cookie?
- You said I could drink. -Too late.
Price this in 6LB. Wakey-wakey!
This one too.
- Did you enter my trades? - I just got them.
What are you waiting for?
He's doing fuck all.
Ok, that's done.
Not those. The others!
That, step on it!
You kidding me?
Cash close in five minutes.
Shit. shit, shit!
Jérôme, the basket goes in the fixing! I need quantities.
What quantities?
Watch my station. We've got 2 minutes.
- My quantities? - Two secs!
You're useless!
Tell me what needs watching!
Coming.
Just a sec.
- I'm waiting. - Coming.
I'm sending them.
Got 'em?
Got 'em!
Bunch of lunatics.
You guys are maniacs.
Everything ok?
Think you're done? ls everything booked?
- Yeah... No. - Hear the good news?
It's noon in New York. Only 5 more hours.
Keller!
Fuck, I'm off by 20 mill. That's your fault.
I didn't do a thing.
Sure, come over at 8-8:30.
Lift me 200 CAC at 85.
And work 'em gently.
What's the maturity on the Stoxx reverse?
Hurry up.
Great.
2 years later
- Your charts. - About time!
- My ARs! - Inbox, as usual.
My bad.
- Buy some eyes. - Warm your teeth, shut up.
Don't dis my fiancée.
Your risk positions, I have to go.
What the fuck is that?
- Normal, you didn't hedge. - The kid's right.
- Why are you bidding? - Shit, what am I doing?
- Saved by your fiancée again? - Asswipes go in the can.
- It's the story of this guy... - No, I'll tell it.
He has a train and he doesn't miss it!
Funny, right? Give me the risks.
Our doggy's growling.
Forget to walk him, he shits on you.
I lost his ball!
Cuddles.
Piss off!
Heel, Jérome!
The slave's had it, he's outta here.
Come here, boy!
Sit, doggy! Sit!
We were kidding!
Not me. I want to spend Christmas with my folks.
We have a new trader, stay for drinks.
You'll tell me about it.
- Stay! - You'll tell me about it.
Who is it?
An asshole.
Worse than you?
I know him?
I think so
Twenty-eight or so, about your height.
Dark hair, blue eyes.
Problem is, he has a tiny little dick.
See who I mean?
You're kidding me?
You're kidding?
Congrats!
May the money be with you.
Come on!
Guys, I told him!
Champagne time!
Junior, where are you taking us?
Tour d'Argent or Maison du Caviar?
Guys, I don't have your means.
Don't worry, you never will.
Holy shit.
By the way,
how does a salary of 40,000 a year sound?
Yes, terrific. Great.
- Sure? - Perfect!
- You don't seem enthusiastic. - I am!
Done deal. then.
Good meeting.
That light was very red.
After giving thanks,
Jesus took the bread,
broke it
and said to bis disciples,
"Goddamn, I wanna be a trader!"
Amen!
Bon appétit.
- Where's the family? - Two weeks skiing.
That's essential.
The blood of Christ.
Guys. Colin, Fabien.
Thank you for this opportunity.
And I guarantee that
you can count on me 1,000 %.
The starving pit-bull speech.
- Cause for dismissal! - Swear on the NASDAQ. Never again.
Ok, all right.
Besides, no need to thank us.
We have our networks, our families. We'll always get by.
You'll have to do better than the rest.
Yeah, I know the rules.
Don't you like tuna?
'Course I do.
I'm Bretunian.
Breton, tuna...
- It's a word play. - It sucks!
It's embarrassing.
No wonder Jewish humor trumps Breton humor.
It's stuffy in here...
- Is there a dessert? - Yogurt in the kitchen.
Perfect.
The kitchen is left, left, second rights, then the stairs?
Or the elevator.
I need the exercise.
I'll take my phone, in case I get lost.
You have an elevator?
SG's selling 6,000 calls Dax strike 4,100!
Just a sec. Ok?
Wake up!
Move over.
Yours 6,000 at screen price.
Done. Who's the dud?
Human trunks, no arms.
Trade or you won't last 3 days.
It's 200,000 euros.
Say what?
200,000. The price of my apartment.
Come see this. Price of your apartment!
Where's you apartment? Show me.
What?
I don't know. Around there.
Measure it between thumb and index.
Which gives us?
Tiny. Slightly bigger than your dick.
Time for a change of scale. Below, 200 grand's a lot.
Seen from here,
it's peanuts.
Shame I didn't buy it from here.
Fabien, your appointment.
Jules. Hello.
Who are you?
The new assistant.
You're early. Trying to piss me off?
I'm kidding. Hey, pansies!
Our new assistant. Name's Jules.
Like my granddad. The similarities end there.
- He's 8. - We're testing child labor.
He speak English?
He's a genius from HEC. You did HEC, right?
Oh, yeah. But...
HEC Bamako.
Easy on the racist jokes. Only I'm allowed.
HEC Bamako? Nice. I'll borrow that one.
What?
Sit here.
Next to Jérôme.
Watch him carefully. If he freezes on the mouse,
paralyzed, smack him, it wakes him up.
Ok, basketball babes, back to work.
And this... in the basket.
Anyone home? - Yup, until 11. What's up?
- Can you buy me 50 futs S&P at 12? - Big or mini?
Big, to mega hedge the certificate book.
My assistant screwed ip again.
One, two, three.
What's the March-June spread?
No, Euro Stoxx.
Okay, mine for 2,000. Buyer March, seller June.
Fuck, it's shifting!
- You got some at 85? - Only 30.
Be faster!
Wait, it's going back up.
It's trading again at 85, go now!
Ok, bought 100 at 85!
Nice place.
- Come here often? - Thursdays.
It's prep for family weekends.
Société Générale!
Honestly, I treat you right.
You like vintage bubbly?
Generous and uninterested!
That's all me.
Jérôme, right? New recruit?
Hi, Samir.
I've heard good things.
Nice work.
That's not for me to say.
That's right, people are saying it for you.
- To swing into high gear... - A magician.
Call me. We'll do lunch.
- See the Arc de Triomphe? - Sure.
I'm just below.
Careful, he's the snake in The Jungle Book.
Trussst in meee.
Keller, read between the lines.
Backlash!
I'm on my knees.
They're jealous. Don't listen.
Why am I wasting my time with you?
Big business awaits. You wouldn't understand.
- Jérôme, call me. - We'll see.
Keller!
Sorry, I always get the best table. The owner must love me.
Great suit. You take up Salsa?
- A broker? - Isn't it obvious?
He's after our business.
- You work with him? - On big tickets.
He's a show-off, but he's sharp.
You have visitors.
I didn't order anything.
Really.
That's the Samir touch.
A welcome gift!
How chic.
- He entertains with style. - Classy!
- Your hands. - I'm not touching.
Are you a virgin?
Nice place
Cheers, miss!
Bottoms up?
You look like you need it.
Let me see.
Thanks, you're the best.
Jules, where you at?
Here, boss.
- Are yesterday's trades in? - Yes, boss.
Stop calling me that.
- I thought you liked it. - I don't.
What the... No!
What an idiot'
- What's going on? - I fucked up the parameters.
It's you! Boss, my ass!
I asked you a question!
It's fine.
I mispriced all the rates, I got arbitrated. 100,000 up in smoke.
- 100,000. Shit. - And on your book.
Calm down. Breathe.
Breathe? Very funny. I did, now what?
Now you pay me back.
Pay you back?
You took 1,000 Stoxx?
- Who's the client? - There is no client.
- Where's the money from? - It's the bank's cash.
Sit, you'll see.
I bet on the market rising or falling. Up, I buy. Down, I sell.
It's called a "spiel".
- Are you sure of yourself? - No, that's the turn-on.
The higher it goes, the higher I sell for, the more I earn.
Oh man, it's going up.
- You had a tip. - No, just a feeling.
- No way. - I swear.
It's still going up. 25, 30.
Should I cut it?
- Not yet. Don't be a wimp. - You sure?
It's climbing...
- 40,000 euros! And now? - It's gonna keep going up.
You sure? If it turns, we're in for it.
I'm aware of that.
I told you it would turn.
- I lost 25K. - Easy.
25K. What do I do?
- Keep it! - This is stressful.
Look, it's bouncing back.
See? Don't panic.
30, 35...
40!
It's going up, guys.
Going up fast.
50...
55, 57...
60.
70,000. 80,000, guys!
Stop! Stay at 90.
It's squeezing!
It's still squeezing!
No discussion, cut it!
- Cut it! - It's paying off!
Ok, all right.
That's enough! Cut it!
I'm done for the 1,000. It's cool.
There you go.
You just did you first spiel.
That was sweet.
100,000 euros in less than ten minutes.
You could've lost that much too.
- Thanks, I owe you one. - You owe me nothing.
It's a no-no, but we do it anyway. Classic case.
Got more up your sleeve?
In that category?
100,000.
Trick number two, the carpet.
See this nut? 1 million euros.
Say you're asked to earn 5 in the year.
You kick ass.
By October, you hit the 5 mark.
Mission accomplished.
Everything you make on top of that, say 3 more,
if you declare them, they won't expect 5 the year after.
They'll expect 8.
To take it easy, these 3,
you save them...
under the carpet.
I get it. The carpet.
That way, you start the next year,
with a 3-million lead.
Ok, but bow do you hide them?
The spiel and the carpet are enough for one day.
This isn't "Wall Street for Dummies."
Marc, did you reach Duval?
Yes, every Friday.
10 minutes, just before his weekend.
- It's your father. - What?
- He's net well. - Is it serious?
Dr. Riezei thinks it may be a relapse.
I'll come this weekend.
No, you know how he is. He hates being pitied.
Wait for the results.
He has to redo some tests.
Yes, sorry. I'm here.
Will you keep me posted?
Of course.
Love you, Mom.
Love you too.
You're short 15 mill on Allianz. It's a mistake?
What do you think?
You short 15 million while the market skyrockets?
You're gonna cry at closing.
What do you know?
So, girls?
In the red?
Told you so!
As soon as Keller's away, you're in the red!
On the ETF buy 5,000 CAC.
300 CAC.
6,000 MSE.
3,000 MSCI.
Come on, plunge.
2,000 Footsie.
300 DAX.
400 DAX.
500 MIB.
It just keeps on spiking!
- What's your loss? - I didn't sell.
You didn't unwind?
You mean you're betting without a credit line,
and you keep your shorts without permission?
If Keller catches on, you're dead.
- Will vou tell him? - Maybe I should.
- The market's gonna tank. - You're a psychic too?
Listen.
I noticed weird fluctuations on the Allianz charts.
Insurance?
I went through the history of several groups.
- And? - Today's charts
are practically identical to one week in 2001.
- Which week? - The one before 9/11.
You know the rest.
Ok.
I don't know what drugs you're on, but stop now.
Seriously.
In July 2005, he started spieling unauthorized amounts?
If you say so.
It didn't alarm you?
We all have our strategies. We neither share nor judge them.
I'm tempted by a long on a sector.
It's been bullish for three days, indulge.
200. I told you.
Take a dive.
It's been two days.
- Know how much we're losing? - Yes, I know.
And you know we're in the same boat?
Sink and we all get wet.
I'll pick up the tab, don't worry.
Take a dive.
Come on, tank.
Take a fucking dive.
Our psychic's still at it?
This calls for a beer, no?
Why only one?
Social services don't like traders.
It just keeps rising.
So much money's almost tiresome.
The new A8 has a Nespresso machine.
Those are crap!
And a couscous-maker?
I'm taking the sports section to the can.
I'm going to take a long slow dump. The best ever.
Know why Belgians always take a gun to the can?
No, and we don't care.
Ready for take-off?
Tiresome!
Ok, I give up.
I give up. That's it.
It's about time.
Unwind for me, I can't do it.
I can't guarantee damage control.
Fuck!
What's with him?
Is he allergic to money?
Wait...
What's that?
What the fuck?
Holy mackerel, what's going on?
Power outage in the London subway!
It's gotta be a mistake.
A power outage?
I'm in for the bounce.
Buy 1,000 Stoxx.
Hold on, I'm a sitting duck!
It's tanking everywhere.
Jérôme could cover his losses!
We're getting clobbered. You?
What's the news, dammit?
Look.
Look!
This is gonna be ugly.
Kill all orders!
We're getting murdered!
Nouredine, kill all the orders!
- All of them. - Here!
I'm taking over! Got it.
That's it.
Ready, Jules? Are you pumped?
You Iucky cunt.
Painful, ain't it?
That's right, baby.
Take that! That feels good.
Fall, baby, fall.
Take a fucking nose dive. Dive, sweetie.
I love this shit.
It's pay day, guys!
So, Jules?
Was I right or was I right?
- I never doubted. - Call me boss now.
I'm getting hammered!
Hammered.
I'm shaking in my shorts.
Fucking idiots, can't they skate to work?
That feels good!
Shit!
Come on!
Shit!
It's not working.
Jules, it's not working.
Look, what is that? It crashed.
My system's down. I can't control my orders.
Are you blonde? I don't know if my orders are done!
Shut up and get your ass in gear.
So?
We crashed.
What? I know that...
I know we crashed!
My station's down, can I borrow yours?
I'm getting gutted, I can't.
Hey, man.
Can I borrow your station 2 seconds?
I'm snowed under, no way.
You took your time!
Excuse me?
Was that you on the phone?
No, him.
You insult me and accuse your intern. Nothing but qualities.
Intern?
You know how it is. We're jumpy, sorry.
We have a rush on.
- Relax, it's fixed. - Got it.
Hey, you. I'm not an intern.
Sorry if I offended you.
You guys are two of a kind.
Thank you, by the way.
- For the station. - It's my job.
Damn, what an ass.
Intern... Who does she think she is?
Tell her to chill.
She's the intern.
You're annoyed?
I mean it, tell her I'm not an intern.
I did HEC, I have a job.
- No hard feelings? - A little.
I did HEC.
How's it look? Get to it.
That's it, dive, baby.
That's it.
Jules.
You're a wizard.
You're a psychic.
A psychic.
Goddammit!
What's wrong?
I got hammered, that's what!
- How much? - Around 200,000.
I'll cover you.
- Cover me? - I owe you, remember?
Jules, I need a smoke.
A fucking psychic.
Come clean, you planted the bombs, right?
Poor taste.
Poor taste, but I love you anyway.
Come here.
Son-of-a-bitch.
Cheers, guys.
Who's the brunette over there? Her.
That's Sofia from IT.
I saw her with Keller.
Think he banged her?
You kidding? Half the floor's done her.
No way.
She's the SocGen nympho.
I never would've guessed.
Crazy, eh?
At the Djerba seminar, three days in a row.
- Remember Ben's? - On the floor!
She's checking me out.
'Course she is, you moron.
I'm sure she loathes me for being rude earlier.
Not at all. You're so naive.
Know what she's saying?
"I fix the guy's station, he hits the jackpot
and he doesn't buy me a drink."
- She's bummed. - No way.
Are you stupid? She loves traders.
So, like, if I go see her now...
- She's dying for it. - Red carpet, man.
- No. - No? Then, I'll do it.
I'll take your place.
Stay put. I'm going. You fired me up.
- That's the spirit. - I'm going.
Go for it.
Check this out. I told him Sofia was a slut.
Watch this.
Hi there.
Could I buy you a drink to make up for earlier?
No, I'm good.
Just to have a good time then?
Excuse me?
Who is this clown?
The clown just hit a 500,000 jackpot
and wants to celebrate in good company.
If you want to join in, I'm open.
That's traders for you.
That's right.
Super generous offer.
And the best has yet to come.
Shall we have a drink, rev the engine and get to it?
- Sound good? - With joy.
Cheers.
Get lost, loser.
The sons-of-bitches.
Bunch of idiots. You, especially.
You knew? Jerkoffs. I feel for your parents.
He takes the cake.
Hands down.
Grow up. Even Keller war bullshit?
You guys are idiots.
Cut it out.
- It's Keller. Shut up. - Ask him if...
Yeah, Fabien. I'm listening.
Is there a problem?
Ok. I'll be there in an hour.
Ok, see you then.
With a 500,000-euro spiel, you didn't think I'd check?
If I were touchier, I could take it personally.
I know.
I should have told you but...
What happens to a guy who risks 15 million with a 2-mill limit?
Am I fired?
If you'd bombed, I wouldn't think twice.
I'm sorry.
That's all you have to say?
What else can I say?
5 million.
What, 5 million?
I'm raising your limit to 5 million.
Is that clear?
Are you serious?
Think I feel like joking around?
Look at that bloodbath.
On 9/11, when everything crashed, a few of us made the right bet.
I never made so much money in one day.
That night, we got blitzed on champagne.
You should write to the families,
let them know their loved ones didn't die in vain.
These conventions are a riot.
Oh, my savior!
- You look ridiculous. - She jealous?
Look.
Look at you, gorgeous.
It's funny, Keller...
In Japan, I jumped above Mt. Fuji.
In London, in the middle of January.
I swam across the Thames.
Kaplan?
I never feared setting an example
or taking risks to encourage excellence.
I'm gonna go.
I had yet to subject myself to a true challenge:
clowning around.
I'm shitting myself.
This marks a turning point.
You know Jérôme?
Why, should I?
Delta One's money maker.
Stop it.
Nice to meet you.
Your turn, girls. I warmed 'em up.
What was your act?
The market-teller.
I swear. Total hilarity, standing ovation.
Jean-Pierre, some doubted my humor,
I await their apologies.
Gentlemen,
huddle up.
Tonight, we soar with the angels.
Amen.
A mad trader of might Appears in the night
His bonus shines like a halo
He earns his keep On a curve so steep
In a spiel that coughs up euros
Z'euros! Z'euros!
The value that rules the land
Z'euros!
We triumph at every hand
For his clients and such He never goes Dutch
He cons the wannabe hero
Charity's nice
But it comes at a price
Or you start over again at zero
SOCIÉTÉ GÉNÉRALE CONVENTION 2005
You too? I'm disappointed.
It's catchy.
- All we need's the album! - I swear I'd buy it.
I bet it'd sell well.
Hey.
This is perfect because I wanted you to meet.
Sofia, Jérôme Jérôme, Sofia.
Hi.
- This is the Jérôme you... - Yeah.
What a nightmare!
- What's so funny? - Let me explain.
Remember the trader who wanted to fuck me to celebrate?
No way, it was him?
- You? - The guys tricked me.
- Mister jackpot... - The orgy guy?
Well done.
Listen.
I understand if you hate me. So go ahead, insult me
- Insult you? - Go ahead, I deserve it.
You megalomaniac.
I think I'll leave.
No need to make a fool of myself.
In this bank, you're my best friends.
So?
So if you want to make me happy, try to communicate.
- I'm sure it's him. - Yup.
He's in a hurry too.
Do you mind if Jérôme walks you?
- Mathieu, please. - Thanks a million.
- Don't do anything crazy. - You're asking the impossible.
And tomorrow: conference on prudential risks!
A must see!
Let's go.
Ok, but more precisely?
Conference network implementation.
- Nice, that's... - My job.
And I saw that you do it well.
I should think so.
- I'm leaving the bank next year. - Why?
- Going back to school. - Nice.
You think everything's nice.
No, I just say so when...
What's nice is that I'm here. Thanks.
Come to the party.
To get hit on by drunk traders?
You know what I mean.
See ya. Have fun.
It could be fun to go out some time.
I mean with Mathieu.
Yeah, with Mathieu, always.
- Great. - See ya.
Good night.
I'm listening.
He kept it?
He liked showing it to the nurses.
You'd become his only subject of conversation.
I'll leave you two alone.
As you know, Fabien and Colin are going to show off on Wall Street.
So it's now official.
I've been asked to manage your desk on top of mine.
I thought it over, spoke with my wife.
and accepted.
On the condition that Sébastien come in from Tokyo to assist me.
Careful, Sébastien's a big name in management.
A huge name. It'll be a chang for you.
BOH. Bit of humor. Enjoy it. New York won't be a picnic.
What was your management technique in Tokyo?
Synergence.
Synergence!
Which consists in?
I borrowed from the Deming cycle and the Ishikawa diagram.
Then added my own personal brain juice.
Anyway.
What was Jérôme's objective for 2006?
5 million. Messy chart.
How much did he make?
North of 12.
A real cash machine.
Why bet on photovoltaics?
He has the nose of a labrador. Everything he sniffs skyrockets.
Bit of humor!
You know the rule. 12 million in 2006... What's the objective in 2007?
12 million.
I like smart girls.
But just a sec.
You know the risks I took to make that, I'm not...
That's not MP, it's YP.
What?
Not my problem.
It's your problem.
Synergence.
Shouldn't have done so well. Now repeat it.
- And the bonus? - Be patient.
What's your price?
80,000.
80,000 for 12 million isn't a bonus,
it's a tip.
Except that he's still a junior.
I was thinking more like 60.
So between 60 and 80,
let's say 60.
Ok for you?
Sold!
I like these meetings. Constructive, to the point...
Next on the list?
Synergence...
What horseshit.
- Good luck with them. - I'm bummed already.
They're nutters.
So how much did you stash under the carpet?
I don't know what you mean.
I do like you.
Keep spewing money and come join me in a year.
"Jérôme Kerviel, Wall Street."
- It's got a ring to it. - Sure does.
Doesn't starting fresh stress you out?
The abolition of money would stress me out.
I've actually grown fond of the company.
They gave me my chance...
"Gave me my chance!"
I'd swear Little House in the Prairie.
- Are you growing pigtails? - You're on.
I gave you your chance, ungrateful sod!
Never neglect your guardian angel.
You have a stain.
Gotcha.
For Chrissakes!
- See ya, Jérôme. - Take care, man.
My bag.
For wide is the gate
and broad is the way that leadeth to destruction,
and many there be who enter.
Narrow is the way which leadeth unto life,
and few are those who find it!
Amen!
Hey, how are you?
No, my station's fine.
No, I was just...
I was thinking...
Are you doing anything tonight?
- Why accept lunch? - To put an end to his 15 calls a day.
It would be his station, then his software...
Pathetic pick-up tactics.
In other words, like me.
You're behaving yourself now.
Well, there's always Mathieu in the middle.
- This is our first dinner without him. - Maybe our last.
M. Kerviel? This way.
Yes, thank you.
- "Mr. Kerviel"? - Give me a break.
The look on my dad's face when I brought him here. He was like...
He was a hard man.
We sat at the counter.
You were sitting right over there.
My mom was happy.
Paris means something.
In 8 years, they came twice.
Did you go see them?
Not so often.
I went to visit my dad in the hospital once.
We talked like we never had.
He was worried that my mom would end up alone.
He was right, wasn't he?
Yeah.
So listen to him.
It's like finding a needle in a haystack.
Should I drop you off?
Maybe. We'll see.
Oh yeah?
In 2007, when the market was rising, he was constantly short.
What was his strategy?
The subprime crisis in the US was looming.
He thought it would soon be our turn.
Your desk's limit was 125 million per day.
That's correct.
How could he, in 4 months, build positions worth billions?
He was very discreet.
How did he manage to cope?
Jérôme, I'm being asked about your messy accounts again.
I'll go to back office after closing.
This time it's reached risk control.
There's talk of anomalies, fake deals. I'm running out of answers.
I am sick of this.
I told you my bookings need sorting.
That's right!
They say you're over by 46 million.
- 46 million! - No...
Can you send an email?
Sure, I can write up 10 in advance too.
Except that I'm busy.
And tell them to back off the money makers.
- May I? - Go ahead.
Don't worry, we'll handle it.
Cool, you're home early.
Hi.
Didn't know you were coming.
We threw together a meal. Aren't you happy?
'Course I am.
Mathieu brought flowers and 2 good whites.
Meursaults.
Was there a goodbye party?
Something like that.
I'll just be a minute.
I knew something was up.
People are talking.
About what?
Your spiels, phony deals, fake counterparties.
- Think I don't see them? - If you do, everyone does.
And when you ask, I explain.
- It's all hot air. - Why does my hierarchy buy it?
They let it pass, it's different.
They'll play blind until something goes wrong.
You know what this is about?
You're out of your league. That's what.
You're acting protective, but you want recognition.
I'm way up here... You're not competent.
Fine, I'll be blunt.
You've been short for 3 months and raising your stakes.
- I don't know how much... - 30.
30 what?
30 billion.
I have 30 billion on the table.
It's a joke?
I'm testing a spicy walnut dressing. Delicious.
Why's the table set for 3?
- There's 3 of us. - No.
Mathieu can't stay.
Why not?
Because what's left to say?
- Wait... - You've got 3 seconds to get out.
Stop it.
Little shit would report me for kudos.
Are you gonna snitch?
- Let him go. - Shut up!
Shut up!
You, get out.
Stop it!
I'm warning you!
Warning me about what?
About what? Go on, warn me again!
Warn me again!
You'll never see my face again.
Get out! You too, you pussy!
You limp-dick piece of shit!
Shit, 2 billion.
Goddamn market.
You're making me lose 2 billion.
Shit...
Check it out.
The Gestapo's here.
It's ok.
500 says heads'll roll.
- 1,000 says it's you. - 1,200.
I'll see to it.
Come with me, please.
I'm talking to you.
Come with me, please.
Ben.
How much?
I'd ratner not know.
Say what?
After 5 years working with him, you say that?
Let go.
You piece of shit!
Get up.
Repeat that.
Think you're in the Marines?
Here, if you help a drowning man, you go down too.
No one comes to save you.
You're no braver than the rest.
Team spirit is a joke here.
Worse than yours, even.
Chill out. It's not our fault, right?
Please.
Lulu.
Frankfurt's concerned about your positions.
Give us what we need to humor them.
Ok what?
Ok, I'm on it. What's up with Lulu?
He's taking a breather.
I'm counting on you.
- Are you happy? - I couldn't do anything.
They've been after him for a while. Let go.
Not everyone's as convincing as you.
He was 20 million over his limit.
Is that a reason to kill yourself?
He who dies pays his debts.
What bullshit.
It's the bible!
Look.
- He's asking for the 20 million. - With a low interest rate.
What?
What the hell?
When did it happen?
By how much?
You're kidding.
I'll be right there.
Jules, fill me in.
Market's tanking because of the BNP.
That's how I like it.
I hope you came with your balls, today you'll need them!
- Making zillions? - Big time, buddy!
Big time!
What did I say, Jules?
The wizard!
Get to work.
The ECB's going to react.
It could go back up by closing.
If it goes back up, I get scalped. Get to it.
I need a week to unwind it all.
A what? No way, we can't.
What can I do?
Check my station.
Check it.
- Samir, I need 2.500 contracts. - 2,500?
Are you serious?
Dead serious, and the little bros come next.
I love big families.
- Can I count on you? - Don't insult me.
Catch you later.
Move!
Now, we keep going.
No incoming calls.
You knew the size of his positions? We're talking about 30 billion.
Brokers work on the surface, in small batches.
I had no idea of the total amount.
What was your target for the year?
12 million, I think.
Do you know how much your spiel is worth?
Let's see if you're right.
Close to 500 million, buddy.
Your math isn't so bad.
You know how much is in it for you?
I'm a bum compared to you. You're the star.
Can I tell people I know you?
Finish the job first.
I have one last order to unwind.
But it's a big one. If I do it in one go, it'll wreak havoc.
Then do it gently, don't upset the market.
You got it. Catch you later.
How's it goin', losers?
Tell your wife to stop texting me. It's awkward.
Keep an eye on the screen. I need a smoke.
I'll call to see if she has tickets.
It's on Tuesday?
Wednes... day.
Hi.
Can I talk to you?
What do you want?
I just want to talk.
- Call me? - Yeah. Later.
I'd like to explain...
- I don't care. - Wait.
I gambled.
So much I made myself sick.
- Never again. - Exactly, so leave.
Please, give me a minute.
I won.
Get it?
Lulu killed himself
and I won.
And that...
Don't stand there sniveling.
It reminds me of Mathieu's bouquet.
Remember the one?
Fuckinq losing streak.
You run out of jokes?
Being short on cash makes me nervous.
- How much? -20 mill.
Ouch.
Nouredine needs 20 mill. Spot him. Eonia flat.
What? Without a margin?
That's right. Free.
Nope, I can't.
I beg your pardon?
I also defend your interests.
It's ok, Jérôme.
Look at me. See this face?
Right. Ok, who? I didn't hear.
Ok, boss.
- I'll get it back next month. - It's ok.
No good deed goes unpunished.
I created a monster.
- Shoulda nipped him in the bud. - Too late.
I'm off to lunch.
We need to talk. You're leaving?
Yeah, I'm hungry.
- Since when do you lunch? - Since I'm hungry.
Is he not well?
Never been better.
What are you telling me?
- You're shitting me. - I swear.
The Messiah. Everyone's calling you that.
Be my apostle!
- Will you keep multiplying bonuses? - Count on me!
Look at him.
He has 2 new suckers.
He never tires. Do you still work with him?
No, he's a handful.
- Besides, I've done my year. - You crack me up.
It takes 10 years to do your year.
Whoa, hi.
- My cousins. - Your cousins?
Yes, I see the resemblance.
Be right back.
Won't be long.
Hi, girls.
How's the family?
Police, freeze!
You idiot.
- You scared me. - Relax.
- I lost the goods. - Got a light?
Here.
I saw you inside.
Didn't want to intrude.
Tell me. Do you have time for me?
Sure do.
You're the one who said you wanted to slow down.
I haven't changed my mind but...
I want to try something first.
What?
I wanna hit a billion.
What's so funny?
- A billion? - Yeah, you heard me.
- Are you serious? - Yes.
I already did 500 million.
It's just a repeat. The same thing.
Right. With the same risks.
You didn't think about that.
You scared?
No, I'm not scared.
It gives me a hard-on
Know why?
It'll prove the power of Kerviel.
Or his recklessness.
I'll call you. Wipe your nose.
Lay off...
Idiot.
- I said I was aiming for a billion. - Yeah, and?
I missed.
Damn.
How far under?
No, man...
I'm way over.
No shit? By how much?
A billion and a half.
A billion and a half. Holy fuck!
This is a first. Picture your statue outside the bank.
I have to put a big chunk under the carpet.
Do you have a client I could book it with?
A counterpart abroad. Low profile.
I just reeled in a small brokerage firm.
Germans. Zenith Capital.
Ok, we'll talk tomorrow. This has to be neat and tidy.
Wait!
- Wanna hit the town? - No, I need to steep.
Jesus Christ. Jérôme...
You're a giant.
They can't fight your power.
'Later.
He gave you outrageous volumes to trade. Didn't you alert your hierarchy?
Our commissions are visible in all the reportings.
My hierarchy knew in real time.
And no one worried about it?
On the contrary, everyone congratulated me.
But when the stony broke, they were struck with amnesia.
They hardly remembered I worked for them.
You asked for me?
Close the door and sit.
You think you're smart?
You think we're groping idiots?
We know everything.
Everything what?
Everything!
The look on your face!
The cat's out of the bag! Keller's preparing your desk
in New York.
We know! But we won't take it lying down.
Your profits are 10 times the others'.
Letting go of a guy worth 55 million a year
is practically professional misconduct.
We want to make you an offer.
You become manager, with your own desk,
and we industrialize your strategies.
What do you say to that?
Thank you, for starters. But I have to...
Your bonus.
I was getting to it.
So?
How much, greedy bugger?
You're a glutton.
Like Pacman.
I know you!
I know you're a glutton. Say a figure.
Write it down. Pacman.
Give us a figure.
300,000 euros?
For a 55-million profit, that's a joke.
- You deserve 2 million, at least. - I know.
Do you realize how much they make off you?
I don't care. I'm satisfied.
Imagine how long my dad would have needed to earn that much.
Anyway, what's done is done. Is that your file, numbers and all?
One thing I didn't mention.
Your tiny dick? The word's out.
No, it's about my results.
Wait, let me guess.
The 55 mill are bullshit?
Did you hide double that?
Let's say you spieled like crazy.
200 million?
Come on, don't be shy.
400?
600?
A billion and a half.
A billion and...
You told me to beat my goals, I did.
Don't pout. Are you jealous?
A billion and a half!
Who else knows?
That I'm leaving SocGen?
- About the carpet. - My positions are crystal clear.
Sofia won't be long.
Help me convince her. New York's intimidating.
You'll know what to say.
No, let's wait a little.
I have to iron out the details.
Just tell her about the city.
Make her dream. Broadway, all that. Ok?
I have to take a leak. Same thing.
You don't quote the Gospel anymore?
No, not since I converted to Scientology.
A billion in a half in revenue is stratospheric.
To earn that much, he must have gone over the desk limit a hundred times.
How do you explain that nobody noticed?
Honestly?
I can't explain it.
Excuse me?
The gentleman who was here...
He had to leave. This is for you.
But the lady you were expecting is seated.
Sorry, Jérôme, it won't work.
I don't think you're cut out to be a trader.
After the United States, now European banks
are getting pummeled by the subprime crisis.
Establishments like Société Générale, who felt safe,
will be announcing billions in losses.
Our bank, like the global banking system,
is about to face a storm.
Auditors are already at work
to validate the balance sheet for the Bank de France
on Monday.
No significant, orders may be issued without your superiors' approval.
He just said we can't unwind.
We have to sell before it gets ugly.
You're right.
I have major positions out on the DAX. What do I do? Wipe out?
I don't know, you have to...
- You want to scale down? - Yes!
Ok, go ahead.
We can close.
Come on now.
We're good.
Let's make this happen.
Come on.
Hang in there.
What are you doing?
You're buying not selling!
I always win against the market.
Now stop distracting me.
- That's crazy. - Find something to do.
Do you have a minute?
Is it urgent?
You know Valérie?
- Yeah. - Hello, Jérôme.
What is Zenith Capital?
Why?
I found trades showing we owe them 1.4 billion.
We owe over a billion to a brokerage no one's heard of?
- I've been getting shit for 10 days. - Really?
I thought it was settled.
- Settled how? - How?
Benoît, you got my emails.
- That's news to me. - Come on!
Are you kidding?
Hold on.
A debt that big doesn't exist, especially with Zenith Capital.
Can I have your contact?
- I'll call them. - No, it's pointless.
- Why? - They're just the middleman.
The middleman?
Yes. The real counterparty is Deutsche Bank.
- Deutsche Bank. - That's solid.
You have documents to prove it?
Of course.
Can I see them?
Whenever you want.
I want to right now.
Thing is, I have to pull them up.
- I'll email you. - Be quick.
I'm right next door.
We're on it.
You have documents?
What do you think?
I have to see you.
Where are you?
On your right.
See me?
How did you get into this mess?
I hid 1.4 billion with a bogus debt.
And you thought they'd buy it?
I tried putting it under the carpet. I fucked up.
I need your help.
What can I do?
I don't know...
I don't know.
Can you remodel the position?
It's gone too high. You're in for it.
They let me do it.
- Prove it. They let me do it.
Isn't that enough?
- They'll claim you fooled them. - Great.
I fooled the best risk control in the world?
They'll claim so. Better an ass than an accomplice.
I didn't touch the monev. I didn't steal a cent!
I know. But that's not the problem.
Help me. You're my only friend.
You're too late.
My hands are tied.
I'm sorry.
What, Jules?
Stop stressing me out! I'm coming.
Where were you?
Where the hell is my email?
Sorry, I had to swing by back office.
We're in panic mode. Give me two minutes. I'm on it.
- What now? - Stop asking me that.
Get off my back. Get me a coffee.
Beat it! Get me a coffee.
Are you deaf? Get me a coffee.
Who's the guy over there?
Never mind.
You're better off not knowing.
Yeah, Samir.
It's a free-fall. You in the right direction?
No, not really.
Shit. You have big positions?
You could say that.
I wanted to tell you.
They called me about Zenith Capital.
Shit! What did you say?
I was vague, acted busy.
I fed them some written proof.
Don't you worry, ok?
They can't fight your power.
I hope you're right.
Talk to you later.
Fuck.
We're screwed. Fuck, I'm stressed.
If I cut now, we're dead meat.
Don't forget the carpet.
A billion and a half. Don't forget.
Thing is...
Thing is what?
The billion and a half is gone.
I have to risk it all.
It's the only way.
Come on.
Go up.
Don't do this. Go up.
Why are you doing this to me?
Why?
Fuck!
- No trading tomorrow. - We'll get murdered on Monday.
- Be optimistic. - You're overoptimistic.
We'll recover.
If you're low on cash, I can give you back your 500,000.
- What 500,000? - The money you lent me.
- I lent you 500,000? - Yeah.
Oh right! I totally forgot.
Ok, thanks. I'll let you know.
Thanks, man.
It's gonna last 4 or 5 days.
No, it'll last longer.
The credit crunch isn't over yet.
- Stop being negative! - It's true.
So?
How much is Jérôme over?
Cat got your tongue, Mr. Honorable?
Not helping a drowning man?
Yeah, Samir.
What's up? I'm worried.
Their on my ease. Consider me fired!
- Don't be silly. - I mean it.
I can go buy some rope.
Cut it out. Let me take you out.
I can't. Sofia's taking me away for the week-end.
Call me before you leave. Take care, buddy.
I'll do it.
Thanks.
See ya.
By the way,
I didn't get a chance today.
Happy birthday.
Thanks.
I'm sorry.
Don't shut it down.
- Why? - Never mind. Have a good week-end.
What are you saying?
Nothing.
- You're whispering. - No...
I'm counting.
Counting what?
White cars.
What for?
If I see five in under a minute,
the market'll climb on Monday.
Jean-Pierre, what's so urgent?
We've discovered a trading fraud.
- Sizeable? - We'll know soon.
We're trying to reach the trader.
Do you know him?
We have 200 like him.
I hope not.
- Aren't you happy? - Sure I am.
Of course I am.
Your mom seems so pleased to see us.
I haven't done this with her in 10 years.
We should go, she keeps calling me.
Five more minutes.
Give me a sec.
I'm in Brittany.
Have a seat.
Want some coffee or water?
No, I'm fine.
- Was the weather nice? - Not really.
It's Brittany.
The things we need to go over might take a while.
If it lasts,
we'll order pizza.
Good evening.
Jean-Pierre Kaplan.
Can you leave us?
Have a seat.
- Thank you for coming. - it's only normal.
Sound ok?
Listen carefully.
You've put us in deep shit.
Yes, I realize that.
Tomorrow, there's a board meeting.
Right now, I don't know what I'll be saying.
Monday we make a major announcement, related to the subprimes.
And if I don't know what to say...
the bank goes bust.
That means 120,000 people lose their jobs.
I understand but...
Covering a loss can happen.
I have to announce a 2-billion hit with the subprimes.
See? We all lose money.
It's only money. No big deal.
If you tell us the truth, things will go smoothly.
But if you're hiding something,
it won't go well.
Neither for you or the bank and its 120,000 employees.
Tell me what's behind this.
Nothing.
Nothing at all.
Careful.
You're off to a bad start.
In 2007,
your account shows operations totaling 1.4 billion
in our favor.
And a debt of nearly the same amount against Deutsche Bank.
At the end of the day, a positive balance of 55 milion,
which you declared as your yearly earnings.
Is that correct?
Yes, it is.
Except that we checked.
You didn't trade with Deutsche Bank.
You gave us fake documents.
Now I want you to tell us what's behind all this.
And fast.
I hid the profits under the carpet.
There is no debt.
- I really earned 1.4 billion. - Wait.
I must have been one lousy trader because that simply does not exist.
- I'm proof it does. - Hold it!
I'd like to trust you, but I know you're lying.
You're covering a loss.
I'm not lying. Check the accounts on December 31st.
You'll find 1.4 billion in the coffers.
Come on...
- And you don't know anything? - Here.
Stop being so calm, it's annoying.
All right.
But it's super confidential.
Jérôme and the CEO are lovers, tonight the geezer pops the question.
You're a pain.
No, I'm protecting you.
Is it Jérôme?
I don't understand a word! Stop playing with me.
I've had it!
Tell me the truth.
- About what? - What you did!
That figure is impossible. Where's the damn loss?
I already told you.
Look me in the eye when you're talking to me.
There is no loss.
- It's under the carpet. - Hold on.
11 missed calls
Are you sure? You checked everything?
It all adds up.
He really earned 1.4 billion.
Nearly a billion and a half.
Half of the room's earnings all by himself.
It's the most amazing story in the history of finance.
What do you think?
Might be something else.
Hi, Mathieu.
Thanks for coming. You know how he operates, right?
As well as you do.
Save it. Come see his desk.
Apparently, you told me the truth.
We found the 1.4 billion.
You do realize you took insane risks?
I don't know how you held up.
Are you firing me?
I don't see how we can keep you.
But you're an excellent trader.
We'll deal with this in-house, quietly.
You'll find work easily.
You can go home.
For someone who made a billion and a half,
you look beat.
No, I don't look beat.
You do a little.
I'm tired, I need to sleep. Maybe that's why.
One more thing.
With 1.4 billion stashed, I suppose you took it easy this month.
Meaning?
Meaning...
you didn't take up big positions in January?
No. I mean...
Not much.
How much is not much?
I'm not sure exactly.
I don't remember.
Sit back down.
Terrific, what was a 2-billion loss
is now a billion and a half in the coffers.
Long live finance!
Excuse me, gentlemen.
What?
We're going through January.
Thousands of operations.
So, on Monday, Thursday or in two months,
we'll find out the truth.
Now come dean on January.
I'm not sure I remember.
People remember things like this.
Stop taking me for a ride and talk to me.
Now!
It's not easy, just like that.
I'm not stupid, you know damn well.
- Not exactly. - A rough figure.
You have no idea or you won't say?
Give me a figure!
700 million?
10 billion? 20 billion?
30?
How much?
- Yes, Jean-Pierre. -50.
50 what?
50 billion.
50 billion worth of long positions on a plummeting market.
50?
50 what?
Billion. 50 billion worth of positions.
Twice the bank's equity capital?
- That's impossible. - It's lethal.
How much are we losing?
- How much are we losing? - 2 billion at least.
2...
Hello?
He bung up on me.
Were there control failures?
In 2007 alone, we sent 74 warnings concerning his account.
Would you call that a failure?
In your opinion, are they blind or incompetent?
I'm inclined to say both.
- Don't tell me it wasn't visible. - It was.
But we didn't see it. Which is normal.
So it was visible.
Jean-Pierre.
I don't shy from my responsibilities. Heads are going to roll.
Like yours, for starters.
It's over You can go home.
Don't come back tomorrow. We'll call you.
And don't talk to anyone.
Monday, if the market goes up 2 points, I break even.
With 4 points, only 4. I make a billion.
- Stop this. - Now's no time to unwind.
Jérôme, stop this.
I've never closed a losing position.
Never.
Ok, I come back tomorrow.
I come back tomorrow?
It's sad.
Please, sir.
Let's go.
After 3 days spent unwinding Jérôme Kerviel's positions,
Société Générale accused him accused him of 4,915,610,154 in losses.
His colleagues were let go with 7 yerars of salary.
CEO Daniel Bouton and senior management "resigned" in 2008.
tn view of its losses,
Société Générale was granted a 2.2-billion tax deduction.
In October 2010, Kerviel was sentenced to 5 years in jail
and 4.9 billion in damages.
In all, he served 150 days in prison.
In March 2014, these damages were annulled
after a court ruling on "bank errors encouraging fraud."
Jérôme Kerviel has filled several complaints
against Société Générale.
Further judicial decisions are pending.
Subtitles by Mariette Kelley
With invaluable help from Glenn Burney