[Music]
[ __ ]
Shh it's well spoken for
no you're laughing I don't give it a
treatment
dr. let's stay snake
[Music]
little Oh judge approvers can be sweet
all right
you leave us home or you're dead I want
you out here you see release a right to
suspect from my bare hands
[Music]
it was thanks to Maggie Thatcher opening
up the City of London that yours truly
from Watford came to be working for a
posh outfit my bearings
[Music]
that was me lying on the floor if you
hadn't guessed nick leeson he probably
heard about me
barons was the oldest private bank in
the world they financed the Louisiana
Purchase back in 1800 and Sunday I sell
old they were they even had the Queen as
a customer
I was just a humble Clark but not for
long I hoped car crashes I hit my head
in the back of the seat and broke my
nose
everybody else was alright because they
were wearing their own seatbelts or chat
and now Nick I know you're keen to get
out of the back office none to the
trading floor but in the meantime
something else has come up we've got
problems in our Jakarta office we need
someone to go out there sort things out
I thought that someone might be Nick
Leeson
[Music]
Indonesia was one of the new so-called
tiger economies in the Far East
everyone's getting so excited about
emerging markets they were calling them
and barons was one of the first to see
their potential the rewards were high
but so are the risks 100 million pounds
in bearer bonds as good as cash we could
pick them up walk right out come to some
arrangement with laughing boy here
customers refused to pay for them they
say the amount on the certificates
doesn't match the original deal no
reason the market goes down they don't
want anymore it's a mess no absolutely
100% right Suzy has one hell of a
[ __ ] mess
by 10 o'clock Sunday morning Ripper head
rolls it was my job to sort out all the
certificates other customers won't have
any more excuses not to pay until then
Barron's was sitting on this bloody
great hole in the balance sheet it was
boring work but I knew if I made a
success of it and I could write my own
ticket all the certificates are on the
right denomination I've sorted out all
the documentation that's all in order no
Sarah all I need from you is a check
[Music]
[Applause]
timon knee Gleeson tell you oh of course
I've been on a limb for so long I never
thought they'd ever get around to it
so I already do that let me build a boat
back
I've never even heard of berries before
I started working for them all right
there's a barons bank in Watford I was
beginning to fill out one of those
Japanese soldiers you know still stuck
in a jungle 20 years after the war
that's bollocks the locals are great
best thing about this place is it's not
still full compensates Colonials would
think they were born to rule the world
that's what I love about Asia I mean
anyone can make it doesn't matter which
stupid school you went to
why do tell me I was urged to
cauterizing a popular man it's a matter
of fact so did I well I really want to
be as a trader barons don't let me on
the floor after this then I'm off not
gonna be bloody Clark in all my life and
this is that way
is that bad it's great just want to get
on in life I like to enjoy myself don't
get me wrong
work hard play hard well I think this is
me well night Nick that was fun yeah it
was we live okay tonight see you
tomorrow then
the Lisa was a stunner all right love at
first sight together we made short work
of the rest of those bombs pretty soon
we cleared out most of areas loss isn't
it was time to go home
[Music]
I think you'll agree that in Nick laser
is mayor Prince
so would you all join me and wishing him
well in their new life in Singapore
where Nick used to be general manager of
the trading floor whatever that means
I'm gonna impress the LA I may know
better and to you Nick I'm entrusting
the most precious of gifts I know you're
going to look after her and Cherisher
and all those other things and if you
don't I'll break your bloody legs as a
reward for my success in Jakarta I'd be
given Singapore a much more important
market with a brief to sell my own
trading operation I was definitely on my
way
[Music]
take your chin to public Hannah bedroom
[Music]
did you need anything call me at my
office Rosewood's have a nice
[Music]
I can't see any problem in you handling
both sides of the operation right you
shouldn't need more than two to help you
on the trading floor a couple more in
the back office for settlements no need
to pay top dollar get them young get
them hungry and train them up I'm a
bottom line kind of guy Nick yeah
absolutely I mean that's my philosophy I
took him at his word my team are young
they were hungry and they didn't have a
clue a futures contract is an agreement
to buy or sell a specified amount of a
commodity at a specified price at a
future date it's like if I agreed to
sell you this cup of cappuccino which I
don't yet at forty five cents and months
from now if I can buy the cappuccino I
say forty three cents I make a profit if
the price goes the other way I have to
pay more and I loathe its timing is
buying and selling at the right moment
sometimes expresso might be the best
deal or salt or pepper so the truth of
the matter is we're not buying and
selling anything real it's just numbers
in our case contracts replacing the
value of the nikkei the tokyo stock
market we do this for the bank no no we
do this for the customers we are not
allowed to trade on behalf of the bank
be sure you remember that all right
other dealers wear red jackets I'll say
Rick is lucky Chinese can earn yeah well
that's a point we want to stand out were
an ER operation we need to be noticed
maybe bother
bollocks we make our own luck Nick's
right which hoodoos man
[Music]
[Applause]
Fernando anything happening in Tokyo
nothing
I was SIMEX last time and I was playing
590 and trade in small 610 to 5 ie here
there's a celery wants to try to decide
shall I like take him yeah flush him out
squeeze a sucker
how many 200 buy them now field you paid
584 200 pairs way to go Nick
I sold at 590 [ __ ] doubt just buy
2,000 quid
[Music]
they were a good bunch and never came to
learn it looked like a madhouse Aurora
traders waving and shouting are rookies
at the racetrack they're all made sense
when there were so many cups of course
but that's normal in any operation
especially I knew one of ours the
important thing was we were picking up
the business in the future Monroe's
[Music]
initial margins like a down payment on
each futures contract that we trade they
don't have to pay that in full until the
contract matures but in the meantime the
value of each contract might go up or
down so SIMEX calculate our positions on
a daily basis and they'll ask us for
more money if the market moves against
us and that's variation margin got it I
think with a type of an hour's account
I've had a few mistakes nothing serious
but I need some way to put them to luck
and work them out
sure well what's your lucky number
hey it is a very lucky Chinese number
and how many numbers do we need five and
let's give it all the luck I can handle
call it the eight eight eight eight
eight account
[Music]
and now it gives me great pleasure to
welcome the challenge we may be the
oldest merchant bank in the world but
that's no excuse for not keeping up with
the times when I became chairman I
realized we couldn't go on running
bearings like a gentlemen's club we had
to look beyond our traditional
recruiting grounds the old school tie to
seek out a new and hungrier breed we're
beginning to see the fruits of those
efforts and I have to say the recovery
and profitability
since the reorganization has been
amazing to be frank I've discovered it's
not actually terribly difficult to make
money in the securities business
[Applause]
[Music]
[Applause]
[Music]
[Applause]
they fight 54:20
man Simon I've got a slight problem one
of the girls sold 20 contracts for Fuji
Bank instead of buying I can't do
anything about it till Monday what's the
damage
twenty thousand at the close sack the
cow
she'll never work on samox again that's
a bit hard isn't it look you handle it
have a word with London but make sure
you make that client good
[Applause]
Tim
that was that's the job
that's what it's all about keeping a
cool head I'm sorry my knee shaken all
year's salary and if the market moves
this weekend it could be even worse
come on everyone makes mistakes look
with a bit of luck I can try that event
Monday all right everybody what everyone
having a good time Kim Kim never burned
up my also they do nothing
it's not a problem
Fernando our March futures look and I
need to make up 20 contracts at Friday's
price he won't get Friday's praise
eyeshadow closed off the position first
thing Monday and taking the loss instead
I waited for the market to change it
changed all right but not the way I
wanted now I was stuck with a bigger
loss than I could own up to and it was
all my fault
yeah I hear your girl handed in her
notice yeah I never came back just
couldn't stand the pace so much for
loyalty did you make the client good of
course
wait a small profit actually good man
this one's for the five nights account
I bought the missing contracts 60,000
pounds Shh it was only 20 before the
market went the wrong way aren't they
coming else what is Simon joins say do
you see these peaches down a few because
then we'll be where I saw you balance
the books by the end of the month
yeah well we trade on her own account
until we wipe out their losses and then
we can use money from the client account
and pay about where next month's bothers
you mean yeah that's all the market is
one giant casino
I was captain but nobody looked at the
books until the end of each month as
long as the five eighths account showed
a nil balance in the last day of the
month no one would suspect anything is
wrong but instead of winning back the
position we made more losses I had to
borrow more money from the client
account to keep them hidden
[Music]
oh well cuz those bastards won't let me
hire proper staff well see it's gotten
brilliant just spend most of my life
covering everybody else's ass well why
don't you let me come hang out with the
back office all Benevento
no why not Nick it's ridiculous you have
to handle the trading floor when
assessments office you can have a
nervous breakdown at this right cuz I
don't want you interfering less I can
handle it and well I don't go back to
being a bloody clerk rather be a
plasterer I'm always used to say that I
could be anything I wanted to be so long
as I took my chances and worked like a
dog yeah well you haven't you've worked
really hard and it's paid off should
have been so proud of you Nick I really
think so yeah I know I am hmm that was
the worst part
Lisa thinking I was this brilliant
success if she only knew what I [ __ ] up
I really was when I wanted the market to
go up as went down if I wanted it to go
down it went up it was hard not to take
it personally
Nick just worked out the balance in its
account the losses are over ten million
dollar they keep it [ __ ] Boston huh
there's no need to panic there's not
enough in the client account to make
margin famous Nick
[Music]
unless unless my sellers that will
generate commissioning and return the
velocity on the phi beta kappa cee-lo
as long as I could get London to keep
sending out money to finance the client
positions I'd have enough cash to stay
on top of the margin payments it was
like robbing Peter to pay Paul
but hopefully I'd end up making enough
money to pay Peter back before he found
out meanwhile I had to generate more and
more business to justify him on cash
calls and for that I needed customers
the bigger the better mr. Leeson I'm
Pierre Beaumarchais
nice to me I work for the Geneva Banking
trust based in the Bahamas I was
speaking with Hank sweet young president
of SIMEX he's very impressed by the
amount of business you've been
generating there's a lot of
opportunities here oh yes I do a lot of
business on SIMEX with the exception of
George Soros I probably trade in the
Nikkei more than anyone sometimes over
5,000 contracts in a day that is a lot
the hallmark only does about 20 good
bearings handle that amount of business
you bet we could beaumarchais was the
answer to my prayers I'd be able to
siphon off enough commission to square
the eights account once and for all
hello I want to buy 4,000 June contracts
I've got a price of 350 on my screen but
this will move it try not to pay more
than 400 we've got to get them cheap Oh
Marsha is a big player if we can pull
this off for him and we get a shitload
of business
what's the quiddity like titus the
police ask you'll get away with 500 and
then the price will move on all right
well then we've got a con the other
traders into think on Marcellus or in
the price drops by Mike
[Music]
fifteen
[Music]
No
[Music]
nobody's coming with the first four
thousand contracts
[Laughter]
[Music]
at last my lucky changed suddenly I
couldn't stop making my own I was long
in the neck I that meant I was gambling
under going up and up it went up and up
enough
[Music]
[Laughter]
[Music]
you'd be like
if it went all the way up to 19,000 I
stood to make a killing and all the
options I've been selling
come on
[Applause]
it's amazing you've made back all the
losses over ten million dollars what did
I tell you oh ye of little faith
you keep doubling up and sooner or later
you're bound to win
[Music]
happy yeah you never bad
I have been silent a bit close to the
wind I didn't want to worry with me
no it's alright the market turned round
and a whole load of Microsystems came
good
I made it all back don't get your
knickers in a twist but we made some
mistakes and ran up some losses I had to
get in a bit of a limb to get better
position well a bit with the losses
it's about a million million quid but
God Saint Nick no it's all right
paid off squared it up I had to do it to
protect the guys yeah will you promise
me that you'll never do that again it's
not worth it Mick
promise you will give me a heart attack
Mary
[Music]
[Applause]
[Music]
and I really meant it I was a number one
trader in town and as a new year came
what I would determine long-term you
kidding no in six long term if it's
nanoseconds long terms tomorrow morning
okay tomorrow morning then that would be
telling life Lisa speaks with market
verbs who said it night calls in
December I've got enough for a point one
three eight four sighs I'll get back to
you quick as you can Nikki I have to
move fast
what the hell is known about for one
three eight four sighs the marketing 220
courses down he wants to cut his losses
yeah but 1.1 308 it's a ratio the 200
calls are tweeting 1,400 goodbye two
hundred five thousand four hundred you
get point one four three
all right but not 0.138 there's
someone's offer them a discount to get
the business probably Societe Generale
we can't let those wankers get MPs on
biggest crime here gonna do just have to
leg it you mean by the contrast in
pierre and seldom when the market Rises
is it I thought we were not supposed to
trade with a bank here I can do it
what's the exact size six thousand five
hundred all right labor with me no
problem the market doesn't rise her wide
the market Falls gambled a wonderful
[ __ ] gamble
when again but was it still me all my
T's have you better believe it
Bonnie I need you to reopen the ice
account we really got kind in those
Beaumarchais contracts and now the
Buster to dump doesn't come back to
Societe Generale you better fax Brenda
Granger in London Oscar for more funds
to cover the margin payments terrorist
for client positions Christ I've been
rumbled the only surprise was it had
taken so long what was I gonna tell Lisa
she bloody murder me congratulations
Nick
the 93 bonuses are in you're down for
135 grand 135 that's fantastic
your little operation generated profits
in excess of 10 million pounds last year
you're a star in fact your figures are
so high they're going to check up on you
check up on me they're sending ash Lewis
out for the audit don't worry it's a
purely routine ash Lewis she's meant to
be a right ballbreaker isn't she
[Music]
build build by 250 hi Nick this is Ron
Baker and ash Lewis Ron as head of
derivatives trading in London this makes
me your boss okay let's see the action
hello
so who stood on all the business we're
the biggest part well we do a lot of
arbitrage so we do have a high volume we
signal all the orders in to George in
the pit there in front this is Henry and
at the end of the day the girls in the
office they log all the deals onto the
computer of the trading there something
we need a talk about this is going to be
a fairly comprehensive orders no stone
unturned
absolutely well anything I can do to
help any stone leads Turner then you let
me know how we failed good man Henry
nice to see you Simon dad seamless flat
and Blackie that's a really good
investment needs a bit of work even the
grand I can fix her up I think of it
like an insurance policy case you go
sect I go back to England and work as a
plasterer whatever you miss recurse what
would you do lease what would you do if
I did get the elbow you've just been
given a red of a big bonus but what if
it all went wrong well if I'm not as
clever as everyone thinks I am
of course you are anyway it's you that I
love I don't give a toss about the money
it was up to me with Jackie all-in now
go back to England a star family
you're doing brilliantly make your
bloody star
[Music]
Simon what's happening you're looking
disgustingly chirpy haven't you heard
panic over ash has been called back to
London you're kidding
why office politics some turf battle
between barring futures and barring
securities and what about the order
they're sending Mark Taylor and Chris
Carr compared to ash they're a couple of
[ __ ] pity I was rather looking
forward to seeing the dreaded ash Lewis
in action now I'm just leaving now [ __ ]
is that sex on wheels is a Porsche [ __ ]
get in
tell you what it is
it's disgusting
[Music]
[Applause]
[Music]
[Applause]
[Music]
boy hey hey buddy look for ways fun
anything
make my man is funny have a beer please
you know George sir one of my dealers
how do you do this is Danny a gutless
works when can handle trading just been
fed up and lost me Danny yeah nice to
meet you may have heard a lot about you
I have fairings of almost porn at the
market I very first room is the most
obsessive greatly exaggerated don't be
so modest you know what they're calling
him well they call him king of the
exchange yes I make just their bearings
in a ward for the amount of business
these generate day no I love it
[Laughter]
[Music]
[Applause]
[Music]
[Applause]
Hey ready women would you like a pop
come on George
somebody's your charms just not working
tonight stuck-up [ __ ] up in the
singapore air hostesses if they want to
come in this give my hand the moon he'll
be destroyed before
[Applause]
[Music]
[Applause]
[Music]
he's got to be joking no laughing matter
original ladies modesty very serious
crime in Singapore news of my disgrace
reach London at the highest level it's
slightly embarrassing but one of our
traders he expose his bottom what silly
buggers I expect unfortunately the law
over there takes rather dim view
maybe we should sack you sacking him
would be awkward to say the least he
generates a significant amount of our
profits in the Southeast Asia division I
I ought to mention we're getting rather
a lot of stick from the Bank of England
about our funding of technically we're
in breach of regulations governing the
ratio of lending to capital word area
we're not quite there yet when I spoke
to Andy Dixon at the bank he said the
matter was there in reasonably deep in
his intro just flagging a concern
well said it than any other business
well what about this chap listen here
the exhibitionist tendencies well I
suppose there's probably something we
should leave to the Singapore
authorities I have to say I'm inclined
to agree so it was the profits aside me
if they only knew Nick life embroiders
again it's a second time it's call today
hi what's shakin well you know how it is
what can I do you for
that's quite a position you've been
buying I don't know which where the toy
wants to play it I'm sorry you don't
have confidentiality sorry no I got a go
speak to you later
speak to you some other time
Jesus crossbow 7.78 billion yen do you
want the dollar amount 100 end of the
dog is send 7.8 million dollar sir right
I want you to put me the following
national trade selling 1000 December
twenty one thousand five hundred put
options are price of seven seven seven
eight and then print me a new report
after their entry so it shows seven
point seven eight billion yen as if it
was opened to us from SIMEX
sure neck and then fax Brenda Granger in
London asking for more funds tell her
we've had a large margin corner prime
positions how much a million
like it to
Nick it's - I am our cry sorry mate had
no idea listen the point is the our
farts are getting nervous they want you
to unwind a position that's easier said
than done Ron don't want to send the
wrong signal to the market yeah yeah
second thing is we need another two
million pounds profit by next month to
secure our bonuses two million Ron what
planet do you live on mate failure is
not an option mate but counting on you
now I see the junket in London in three
weeks time I think I am George Soros
we were coming to the end of another
year and I was deeper in this [ __ ] than
ever
barons wanted me to be one of the
speakers at their annual group
conference in London I was their start
Rider
and they all wanted to know the secret
to my success it didn't bear thinking
about him he's nice a man found ya
that's the best place you could be wrong
can't believe you tracked me down
already yeah listen with this conference
and everything yeah you're gonna be away
from the trading for one hell of a long
time well I had to come back a week
early for this funeral I told you Lisa's
grown dad passed away but I'm fighting
for your bonus here you need to keep up
those profits no one's asking you to I'm
gonna issue you with a security pass so
you can come in on Sunday and change
she's right Nick you're not a machine
it's bone this time too far down to
never then everybody loses out well it's
not fair Nick you carry on at this rate
go be the right Allstate it's gonna be
your funeral next for as much as it hath
pleased Almighty God of his great mercy
to take unto himself the soul of our
dear brother here departed we therefore
commit his body to the ground
earth to earth ashes to ashes dust to
dust
[Music]
good to see you sir
sorry occasion but there you go you had
a good innings that's the main thing so
how's it going over there
complain more proud of you Nick what you
ever change
stop it dude don't be so bloody modest
you have plaster as Sam I just wish your
mum could have been here to see it so do
I try not to let y'all down dad what did
you say
so kind of jet lag don't pay any
attention to me I felt sick going into
the office seeing all the people I've
been avoiding for months it was one
thing to count people over the phone it
was quite an honour to do it to that
face Nick
see you isn't it Nikhil Eason I heard
you were coming in you haven't the
vaguest idea who I am have you Brenda
of course I'm sorry how are you I
finally get to put a face to the voice
my god you are so young well I didn't
have to do on the face Nick why don't
you come into my office I really do need
to talk to you about the thicket Brenda
I have a meeting with Peter Norris in
three minutes
oh do come in right after okay ain't
nobody out there can give us answers to
our questions with you and they just
asked for another ton of funding alright
this one brenda was my cash lifeline she
was the last person I wanted to ask an
awkward questions but first I had to
deal with Peter Norris he's such a
red-hot traitor I've arranged for him to
come in overnight and keep trading the
nikah are you really you can't keep Nick
away from the floor he's a key man in
Singapore sounds like you're the key man
in Asia there's an animal he's insane
you should see the way he takes that
market on are you enjoying yourself Nick
yes it's alright alright
[Laughter]
now we need to talk about merging the
sales areas in Asia Nick has some views
if we can replicate his success in Hong
Kong and Tokyo what do you think it does
make a lot of sense to merge then we
need to be controls of course but the
trading books can be used in such a way
as to supplement the customers
requirements and increase information
flows synergetic Lee exactly synergy
so you see Peter Nick agrees and he's
been very successful with his customers
they love it yes excellent well keep up
the good work and run you sort out what
you want with this merger now gentlemen
I really well I think that went well
don't you seem to go for the merger idea
oh it did Ron it really went for her hey
this'll be good for you to me they'll
give you some kind of fancy new title
Nick right
being good is not good enough everyone
must be connected to our strategy or we
will find you and we'd you out
information arbitrage is our business if
you don't know what an information curve
is then find out position yourself in an
information curve dominate the curve
Nick Leeson most of you know and all of
you have heard of runs our operation in
Singapore which I want all of you to try
to emulate now you're here later from
dig about how he does it but I just want
to drive home to you guys but if you
could all think about Nick and have to
come up with ideas to follow his
footsteps bearings will become one of
the most successful operations in the
derivatives business
gonna make so much but more of a point
you are gonna make so much money
[Applause]
Nick wake up Lissa well-meant without
dinner
okay I can't face it I can't take you
anymore I'm not going back after
Christmas you can't make me where you
going on about you sitting there - Peter
Norris in the seat of Honor
oh don't tell me mr. presentation - I'm
drinking no I never woulda guessed
I think it's downright rude - expecting
you can't everybody down like that but I
understand me sir I'm sitting on a
[ __ ] volcano I can't go back and what
about your bonus
now stop babbling and get yourself
dressed I'll give you volcano at Leeson
right
[Music]
promised me and always loved me Lisa
whatever happens you'll always love me
of course I will you're my man only hmm
it was crazy going back i couldn't hope
to survive the end-of-year Audion there
was that little matter of the 7.78 billy
in the end which I'd fabricated to plug
the owl in the five eighths account I
should have told me so when I had the
chance but there was this voice that
kept telling me I tried it out and my
losses before I could try it out of them
again what's this letter all about
where's from Cybex yes I know it's from
SIMEX it came on you away it appears
that your company has financed the
trading positions held by sub-account
eight eight eight eight eight if this is
the case you have violated SIMEX rule
eight to two which prohibits members
from financing the trading margins of
their customers they're just banging on
about orange with a funding limits all
is sub-account 88888 anyway it's a
customer account I mean we have umpteen
trading account so I'd have to look into
it with a number one trader in town and
they're trying to tire something red
tape any one thing they didn't want us
to trade I'll draft an answer for you
you know do that would you get it on my
desk by the morning
say sir
Lisa
they sir we don't
I'm play to make
[Music]
why didn't you tell me I really want to
baby I want lots and lots of babies
right
your wife is okay I'm afraid she's lost
a baby
I'm sorry
[Applause]
that was a turning point that was when I
decided I couldn't stand around and
longer hope in the market of murder my
favor I was gonna have to make it I
didn't care how much money it took I was
gonna go for broke
the man is single-handedly generating a
fifth of the group's war wide operating
profits
I know run but thirty million dollars in
margin payments for one day's tragedy no
no you don't seem to understand the
volumes are enormous Nick's guy is the
biggest player on SIMEX Nick it's Brenda
listen buddy this is putting a terrible
strain on our borrowing Tony Hawes is
all over me about your cash calls
yeah I'll hear you Brenda but London is
the cash cow for the business here we
just don't have access to any other
funds I mean frankly if you keep
personal me like this I've got a good
mind just to stop trading no no no no
Nick it's okay listen just get back to
me with some meaningful figures okay
hello Nick Nick thank goodness I caught
you listen I know Brenda's been giving
you a hard time I don't think any of you
seem to understand how it works out here
yeah you might be right about that mate
anyway consider it sorted but but you
are gonna have to start producing these
positions well Ron I'll see what I can
do all right
oh and while I've got you about your
bonus the budgets tight and although
you've been exceptional that there's not
much to go around I thought we had a
record yeah yeah having said all that
I've put in a special plea to Peter and
it's agreed to go after 350 350 that's
ridiculous I'm really pushing out the
bite for you mate I'm making an
exception listen I'm busting my balls
here I made us the top house in SIMEX we
even got that award for the amount of
business we're doing yeah I know that
Nick look I'll see what I can do
I'll see if I can't start with a four
Hey
as their opening offer
they would have thought something was
wrong and finally accepted straight away
yeah it's not winning the lottery must
think the world
what's my Lisa what you think's a bloody
Monique everything's changed
I just want to go I want to get the nav
and go but you wanted to come back what
by the bonus what kind of a Paris a
mountain please Nick I want to go home
with my life I want to start a family
I'm going stir-crazy oh man calm down
calm down just a little bit more time to
sort things out turn you up at dawn and
you come back a night your clap sings a
bed how am I meant to get pregnant again
if we never make love no but this could
set us up for life
where's bonus day 24th of February 5
weeks to go oh we can't leave on the
25th I mean it I'm calling the furniture
movers tomorrow with everything else
closing in on me I'd forgotten all about
him only charge when it finally came to
court I was facing a possible jail
sentence
the charge has been reduced to a
misdemeanor the maximum penalty is a
$200 fine I think we should plead guilty
it was uncanny I'd got away with it
again shining example I'm compiling the
end of your audit and there seems to be
a big hole in the accounts I'm missing
this seven point seven eight billion yen
receivable from SIMEX
can you hear me
it's a little bit complicated what do
you need I can't find any people look it
was an over the can of trade between
spare leads and Kellogg and Barons
London it fell through the computer
system I love a word of the Systems
Manager I'll get some it to you I need
three bits of paper one confirmation
from SLK that the 7.78 billion yen will
be paid to site of your bank balance to
show it's been received and three a note
from rod Baker
where did you and approves it well it's
nothing just a computer glitch they're
doing their only role did
[Laughter]
[Music]
and so with scissors and paste I created
78 million dollars a thin air
this was forgery pure and simple
and there was no going back Nick so
Jesus Yamcha give me a heart attack
what's this missing seven billion yen oh
that's a nightmare
it's an OTC trade from last month it was
incorrectly booked the auditors are
really on my case about it
pain in the bloody arse but we've got to
get it sorted the point is we wrote the
money by SLK who's a Heller SLK spear
leads in Kellogg
it's a brokerage house better send me a
memo soon as get these auditors off my
back so Simon don't worry I'm on to it
[Music]
very carefully I want you to transfer
seven point seven eight billion yen from
the client account into the house
account won't go
there isn't enough money I know that the
universe immediately after is just an
electronic transaction
I want the transfer done and I want the
bank to send us a fax of the statement
showing the seven point seven eight
billion yen credit right
[Music]
hey what's all this about seven billion
yen just someone the pho from London
called Tony I was looking for you Jesus
Christ if I hear any more about this 7
billion yen it's best 70 million dollars
in it what do you reckon right Oh blue
well and you think I just walked off for
70 million dollars no I did say that
it's a computer error well you need
someone to help with the back office
that's I've been telling you all along
you're not blooming Superman they said
don't start all that again will ya boy
what happened if I'd have been there I
can tell you right got an ailment
where you going to get pissed if anyone
calls tell Madonna South America
[Music]
nice
oh you don't know
[Music]
come in I thought you'd like to know the
audits been cleared Nick got in the
paperwork everybody's happy
Thanks technically we're in breach of
SIMEX regulations but basically it was
just a non transaction with any luck the
auditors won't mention it in the
official report or we could have
problems with the local regulator sounds
sensible do you know Nick made ten
million dollars doing arbitrage in a
week that's about half a billion dollars
a year the guy's a turbo arbitrage yeah
well frankly if he's doing that amount
of business for that amount of profit I
don't know why we don't shut down the
rest of the bank we just overhead hello
have you been avoiding me I've been
trying to reach you for days sir it's
only it's been chaos here the audit went
through and thought you knew it's this
SLK thing I know what's bothering me is
where you've got all the money to
actually well pay us okay in the first
place I mean it's the equivalent of 78
million dollars it's obvious Tony it's
part of the funding that we've had from
you over the past few weeks
yes so the same figure will flow back to
you I see you're saying that some of the
funding was used to pay us okay that'll
be good getting our funding down will be
good I'm having to juggle quite a few
balls at the moment yeah we all are Tony
believe me look I'm sorry I've got a -
I've got company for dinner yes yes of
course
well thanks Nick thanks for clearing
that up
yes renauldi one it's me your white
headband you didn't call me in the
middle of the night I suggest you tune
into CNN
this is gonna kill them okay is gonna
fit through the [ __ ]
[Applause]
[Music]
[Applause]
mark is there 300 points you stand there
cause a [ __ ] cucumber why I say it
bubble it's an opportunity I'm gonna buy
into the market you watch by all the way
back up to 19,000
[Applause]
into what I say about your gonads right
stay with me
okay Fernando a bone Toki I see the
shaky pun intended even trying to
contact our friends but the lines are
down oh that it's like Nick we got
movement
holy [ __ ] selling there's some selling
[ __ ] I wasn't faithful you've seen it
move so fast
[Music]
sure you don't want us to stay no I'm
fine you go
you'll make a redneck we all believe in
you
[Music]
Oh
Nicholas Lisa have lost fifty million
quid
it's simple Tony he switches contracts
between Osaka and SIMEX it's sporting
price differentials between the two
markets that's how he offers the first
deal to our customers everybody doing
because he's absolutely in the sinner in
the vortex of the relation curve over
there he's discovered a whole new way of
making money
well he's giving us an arraylist funding
problems that's all I know
it doesn't do things by the book wrong
he doesn't respect the rules you really
the kind of person we should be
employing a bearings I'll [ __ ] the rules
Tony this Barrow boys like Nick your
turn in the City of London around you
can't have run a modern financial centre
with a bunch of hooray Henry's bastard
wait you might eat
what's they actually might tell me my
keys up and down up and down like a
tarts and it was the worst of it's over
the salon was out last night with that
Loy unite journal from Reuters now he's
convinced there's no mystery customer
here ends the shoe even if you're
trading on your own account without the
brains of Moodle that you're not that
crazy is do you think well neither am i
showing up I thought you're giving you
the other I can't tell ya Marnie smooth
Danny Boy I could tell you but I'd have
to show you afterwards I know one thing
if customer X didn't exist he left to
invent him
[Music]
45 million Nick you've already had a
hundred this week they're worried about
market stability with these big
movements it's an emergency measure
isn't everybody squealing out there no
we got it back when the market calms
down Nick for the umpteenth time when
are you gonna reduce these positions the
bean counters are freaking out Ron
didn't know you were there a fax eight
we've had the Bank of International
Settlements in BAU asking if Barry's
committed smagin payments it is not good
for babies
I hear you Ron it's a tight market yeah
well you really got to try I'll take a
hit on it if you have to
I know Norris is gonna want to discuss
it with you when he's out next week
Norris I didn't know he was coming they
want to check on these numbers iron out
these funding problems once and for all
[Music]
there was now I introduced my positions
without the market collapsing by the
time they got to see the poor I was in
deeper than ever
faxing brand on a daily basis 3040
million dollars at a time they were
going to kill me
[ __ ]
can I [ __ ] [ __ ]
I'm sorry I'm a little late
hello hey what do you have a beer would
be great thanks another Tiger please
Nick how is the market today I was
staying between 1883 just a little bit
seemed so settled after the earthquake
and the positions you're having you're
happy living and relaxed the men in
March contract so I'll just let will
expire now we've had a lot of stick
Brenda Granger tells me we're borrowing
all over Japan to get the funds to you
people are beginning to talk I
understand I understand completely
and that was it and finally all into
certain subject of my enormous exposure
that was causing so many ulcers
throughout the Barons Empire
journyx cool thanks I'm not very hungry
I'll tell you what I should have been
able to relax after that I couldn't stop
thinking about their losses in the five
eighths account
you're barely a week have you thought
about what you're going to do only a
week to go excuse me I I have an
announcement to make
I know that some of you are worried
about our exposure in the market and
you're probably wondering about the
identity of our mystery customer X well
the fact is he doesn't exist we are
their customer parents and if you look
properly at the five eighths account
which is not a client account at all
it's an errors account you'll realize
that it's concealing losses in the
region of two hundred million pounds now
I tell a lie is more like two hundred
and thirty after today
you'll be dead what are you going to do
with all that money
well I'm not going to spend on futures
and options I was living from day to day
hoping for a miracle
I wasn't running a position anymore
the position was running me shakes we've
been on the res all right I just getting
killed by the market it's only about it
I better [ __ ] you eat too penguin
you lucky sod you know rare they are do
you know
well ain't that bloody funny lucky Lacey
yeah not lovely bubble [ __ ]
sorry you really aren't about buying
each other somehow
I have an unauthorized position
I can help
Abuk
they can have to be a problem
probably bastard I can't say it comes as
a complete surprise there's Lisa now she
kill me
poor thing she's got enough in a player
the moment she's just waiting for
badness die so we can go home so what
you gonna do well I just have to keep
buying futures out there gonna starve to
support the market I mean if it sticks
around 18,000 then my options are still
in the money and I could get the
position back I might even come out
ahead make you listen to me they're like
listen to me don't fight the market man
even if you can make the margin calls
what happens when the contracts expire
they wider markets going at the moment
your asses can be catastrophic
[Music]
[Applause]
[Music]
[Applause]
Nik
photonic Nick I really need to go over
some of the figures with shorty
[Music]
[Applause]
I've thrown away countless more millions
and it hadn't made a dent
I was only one day from bonus day but
the game was up
I was beating
[Applause]
[Music]
but it's not the end of the world you
got your bells you got me
showing that the bone
sorry
right here it is to slow down the video
shops on the nets left I want to go and
get our deposit back
alright we're gonna need a darling
hello you're very faint run and what's
this rumor I'm hearing there's a rumor
that we're the customer I'm sorry Ron
you're gonna have to speak up tell me
we're not the customer Nikki I'm losing
you Ron Ron
good girl
[Music]
Peter I'm sorry to drag you away from
the party
by the time this [ __ ] hit the proverbial
fan in London we'd escaped from
Singapore to ponder the future and
consider my options if I had any what a
panic well they must have got my facts
and closed down all the positions of
Friday the locker seems to be holding up
okay but you definitely had the job it
could have been a lot worse but I still
lost them a ton of money
oh I'm starving didn't do burgers no you
know every burger that tell me those
drive me nuts
don't stress me wench I'll work it off
in the gym
[Music]
Berenice combust
well the Chancellor of the Exchequer
Kenneth Park is trying to come fierce
marked by the failure of Barings Bank in
a statement to Parliament he denied
reports that the British banking system
is about to collapse according to him
bearings failure is a unique situation
which he blames on the actions of a
rogue trader in Singapore estimates of
potential losses ranged from 800 million
to over 1 billion pounds there's no way
of knowing how markets will react when
they reopen on Monday and while the Bank
of England tries to put together a
rescue package with the Sultan of Brunei
rumored as a possible buyer time may be
running out for one of Britain's most
venerable financial institutions Charles
Samson CNN Thunder
how could you not tell me how could
you've kept you for all this time Nick
must be strengthened to senators office
took bloody rocker would then I would
have got fired and I would never had a
chance to know the money play that's
what I was gonna do
no you were gambling that's what you
were doing with other people's money
wasn't my life it went down you dad
girls in the office
even wrong bloody bugger do you think I
look lying
I'm not over you giving mr. popular
because it's maybe another way you know
it's so nearly was
then I'll bear hero
last I love you
yes I understand no of course thank you
again for your efforts goodbye
that was the Sultan of Brunei's office
they've decided not to proceed
they believe the risks are too great and
the time too short and view of the need
to have a rescue package in place by the
time the market is open again in the Far
East is there really no one else
we've tried everyone hopeless I
therefore have to inform you that
bearings is insolvent and will go into
immediate liquidation Peter Behrens has
gone on TV and said there's been a
conspiracy
they've lost my losses were nowhere near
that was more like 300 hello Burberry's
they'd do anything for the big basin and
they're the words out in the market
crashed bloody idiots what hello but
listen mate you got no friends in now so
just get the [ __ ] out of a zoo
yeah we're trying we're Nick get
yourself a good lawyer Cheers
it's crazy there's a manhunt all over
Asia
I think we're sailing around Indonesia
in our yacht no it's crazy what about
the floors I was one to London they goes
by a Singaporean to shoot well
let's take you play cash
I'm surprised we talked about the speak
he was just sticking out like a sore
bloody thumb did you say we stop at
Vitaly yeah so that's where they cut
your hands off just on you my bearings
like this we get behind answer
[Laughter]
that was when it hit me
the enormity of what I've done
whatever happened all new things were
never gonna be the same again
and I never felt lonely
love you Lisa
I've happened to happen
let's go back to London I couldn't stand
if I was in general Singapore come stand
over comes here
[Music]
as close as the police I was not enough
time
no not necessarily control what it
pleases you need a plane
please have your documents ready see
I'm scared Lisa
London
thank you please show your passport
where is your man
I
[Applause]
250 billion 100 250 billion hundred come
on
who wants some of that 250 bit on 100
250 bit of the hundred come on
[Music]
and that's it more or less that's the
end of my story
[Music]
barons was eventually sold to the Dutch
Bank ing for the princely sum of one
pound
[Music]
lace has got a new life working as a
flight attendant for Virgin Atlantic oh
yes she's got herself a new fella
[Music]
as for me our fault unsuccessfully
against extradition from Frankfurt to
Singapore on charges of fraud forgery
and breach of trust I was sentenced to
six and a half years in prison despite
rumors of secret bank accounts and
hidden Millions
I did not profit personally from my
unlawful trading to be absolutely honest
sometimes I wish I had
[Music]
[Laughter]
got something to say
[Music]