In 2008, an unnamed investment bank begins laying off a large number of employees. Among those affected is Eric Dale, head of risk management. Dale’s attempts to speak about the implications of a model he is working on are ignored. On his way out, he gives a flash drive containing his work to Peter Sullivan, an associate in his department, warning him to “be careful.” Sullivan, intrigued, works after hours to complete Dale’s model.Margin Call 2011 Full Movie Download
Sullivan discovers that the assumptions underpinning the firm’s present risk profile are wrong; historical volatility levels in mortgage-backed securities are being exceeded, which means that the firm’s position in those assets is over-leveraged and a decline in their value large enough to cause the firm’s bankruptcy will occur. Sullivan calls his colleague, Seth Bregman, to return to work with the head of credit trading, Will Emerson. Emerson in turn summons Sam Rogers, his boss, after reviewing Sullivan’s findings. Attempts by the four to contact Dale end unsuccessfully due to his company phone having been shut off. Peter and Seth go out to find Eric, while Sam and Will inform the company’s senior management of the situation.
A subsequent meeting of division head Jared Cohen, chief risk management officer Sarah Robertson, and other senior executives concludes that Sullivan’s findings are accurate, and firm CEO John Tuld is called. Upon Tuld’s arrival, and after Sullivan explains the problem, Rogers, Cohen, and Tuld spar regarding a course of action. Cohen’s plan, favored by Tuld, is a fire sale of the problematic assets. Rogers disagrees, pointing out that the sale will damage the firm’s relationships and reputation within the industry and will cause major instability in the markets. Tuld stresses that his desire to avoid the firm’s bankruptcy is worth that risk and the cost.