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[traffic sounds]
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00:00:27,040 --> 00:00:29,760
-[crash]
-[people screaming]
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[man]
Oh, no! No, no!
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[exhales]
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00:01:12,800 --> 00:01:14,320
[phone vibrates]
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[man on phone]
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[Massimo]
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00:02:06,200 --> 00:02:08,640
[phone line rings]
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00:02:08,680 --> 00:02:10,440
[Eleanor over phone]
Massimo.
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00:02:10,480 --> 00:02:13,120
Franco Jannonefrom the Italian treasuryis coming in.
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I'm sure he wants to discusshow to manage their bonds.
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I need to know how Dominicmanages the auction.
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-I'll be back as soon as I can.-[Eleanor] I'm on it.
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-[Massimo] Yes, please. Bye.
-[Eleanor] Take care.
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00:02:23,320 --> 00:02:25,240
Dominic wouldn't be running
this auction
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00:02:25,280 --> 00:02:27,240
unless it was important.
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00:02:27,280 --> 00:02:30,360
We should be in London,not here.
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00:02:42,520 --> 00:02:44,440
[Sofia]
Not how you remember it?
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00:02:47,160 --> 00:02:49,000
I don't know why I came.
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00:02:49,040 --> 00:02:50,520
Maybe he wants to
make amends.
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00:02:50,560 --> 00:02:51,680
He's dying.
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[indistinct shouting]
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[man] Massimo!
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Massimo Ruggero.
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00:03:39,920 --> 00:03:41,200
What was that about?
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00:03:42,120 --> 00:03:43,600
They don't like tourists.
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00:03:45,880 --> 00:03:48,880
Many experts are seeing it
as Italy's moment of truth.
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00:03:48,920 --> 00:03:51,360
The bond auction set
for the end of the week
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00:03:51,400 --> 00:03:54,560
is critical for Italy's
economic stability.
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There are rumors
that the Economic Ministry
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is planning to offer
five to eight billion euros
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00:03:59,920 --> 00:04:01,240
in government bonds.
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00:04:01,840 --> 00:04:02,960
Was that him?
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00:04:03,000 --> 00:04:04,320
[Eleanor]
Franco Jannone.
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00:04:04,360 --> 00:04:06,320
He's much shorter
than he looks on TV.
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00:04:06,360 --> 00:04:08,200
Why is Massimo so interested?
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00:04:08,240 --> 00:04:10,040
Because Dominic's interested.
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00:04:11,400 --> 00:04:13,280
How am I gonnaget inside this?
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00:04:13,320 --> 00:04:15,760
You need to find out whoChris Bailey's got running sales
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00:04:15,800 --> 00:04:18,040
and then... get rid of them.
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00:04:19,880 --> 00:04:20,880
Oliver would know.
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00:04:20,920 --> 00:04:22,720
-No way.
-Yes way.
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00:04:23,680 --> 00:04:25,200
Are you...
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00:04:25,240 --> 00:04:27,240
Are you asking for my help?
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00:04:27,280 --> 00:04:29,560
-I just need a name.
-You...
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00:04:29,600 --> 00:04:31,640
are asking for my help.
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00:04:31,680 --> 00:04:33,600
Don't be a dick about it.
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00:04:43,920 --> 00:04:45,360
Richard had to leave
for the day,
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00:04:45,400 --> 00:04:48,240
so I'm replacing him
on the Jannone thing.
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00:04:49,000 --> 00:04:50,280
Says who?
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00:04:52,760 --> 00:04:54,040
Where is Richard, anyway?
52
00:04:54,080 --> 00:04:55,680
Family emergency.
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00:04:55,720 --> 00:04:58,040
And seeing as Mr. Jannone's
looking to place at least
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00:04:58,080 --> 00:04:59,360
five billion
in Italian bonds,
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00:04:59,400 --> 00:05:01,160
you should have
picked me anyway.
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00:05:01,200 --> 00:05:02,520
I... [chuckles]
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00:05:03,800 --> 00:05:05,680
Why's that then?
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00:05:05,720 --> 00:05:08,680
You mean apart from the fact
that I'm the best you've got?
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00:05:11,800 --> 00:05:13,120
[exhales]
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00:05:27,760 --> 00:05:29,040
[screams]
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00:06:05,080 --> 00:06:07,000
[gasps]
[pants]
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00:06:34,560 --> 00:06:35,680
Massimo...
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00:06:41,200 --> 00:07:07,320
[Enea coughs]
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00:07:39,840 --> 00:07:41,160
Well?
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This is going to be a while.
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Okay.
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Meet me at my house.
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00:07:46,640 --> 00:07:49,200
-I'll be there
as soon as I can.
-Cool.
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00:08:16,480 --> 00:08:19,960
Italy needs to
sell bonds, debt,
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00:08:20,000 --> 00:08:23,760
which is equivalent to
the whole of the Greek debt.
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00:08:23,800 --> 00:08:25,200
Italy is huge!
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00:08:25,240 --> 00:08:26,960
[Massimo]
This campaign against us,
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00:08:27,000 --> 00:08:28,800
-it spreads mistrust.
-Hm.
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00:08:28,840 --> 00:08:30,960
It's making it increasingly
difficult for us
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00:08:31,000 --> 00:08:32,680
to finance public debt.
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00:08:34,600 --> 00:08:35,680
"PIIGS"...
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00:08:35,720 --> 00:08:37,160
Such a disgusting name.
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00:08:38,400 --> 00:08:39,800
Terminology is contemptible.
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00:08:39,840 --> 00:08:41,680
[Jannone]
Still, we must accept reality.
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00:08:41,720 --> 00:08:44,360
Even Rheinthaler
is dumping Italian debt.
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00:08:44,400 --> 00:08:47,760
The last auction was tough.
We nearly didn't cover it.
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00:08:47,800 --> 00:08:49,600
We can't riskthe slightest misstep this time.
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00:08:49,640 --> 00:08:51,640
[Dominic]
Well, what are you suggesting?
84
00:08:51,680 --> 00:08:54,440
Reduce the offeringand keep the price up.
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00:08:54,480 --> 00:08:56,040
Now that would signal weakness
to the markets.
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00:08:56,080 --> 00:08:57,920
Yeah, they smell fear,
next time they come in to kill.
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00:08:57,960 --> 00:08:59,760
I can't leave this to chance.
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00:08:59,800 --> 00:09:01,120
We need to be sure
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00:09:01,160 --> 00:09:02,560
these bonds will sell
at their proper value.
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00:09:02,600 --> 00:09:04,200
Eleanor's gonna
take care of you.
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00:09:04,240 --> 00:09:05,800
Yields are already peaking.
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00:09:05,840 --> 00:09:09,440
I'm confident we can place
all of them at market price.
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00:09:09,480 --> 00:09:12,000
-Let's go big! Mr. Jannone.
-[Jannone] Okay.
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00:09:13,960 --> 00:09:16,320
-[Eleanor] Thank you so much.
See you soon
-See you soon.
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00:09:16,360 --> 00:09:17,720
-Please.
-[Eleanor] Bye.
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00:09:22,520 --> 00:09:24,360
Set a meeting with our clients.
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00:09:24,880 --> 00:09:26,560
Do it in person.
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00:09:26,600 --> 00:09:27,720
Be discreet.
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Low ball it.
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00:09:30,280 --> 00:09:32,160
Tell them half
of what we told Jannone.
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00:09:32,200 --> 00:09:34,160
Didn't we just
promise him the opposite?
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00:09:34,200 --> 00:09:35,880
We need to service our clients.
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00:09:35,920 --> 00:09:37,840
[Eleanor]
The Italian government
is one of our clients.
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00:09:37,880 --> 00:09:40,760
If this auction goes south,
they could become Greece.
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00:09:41,200 --> 00:09:42,480
Times ten.
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00:09:43,960 --> 00:09:46,040
[Dominic]
It's an opportunity
to prove your worth
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00:09:46,080 --> 00:09:48,240
after that business
with the VaR.
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00:09:52,080 --> 00:09:53,520
How's Massimo?
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00:09:55,200 --> 00:09:56,600
Okay, I think.
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00:09:57,600 --> 00:09:59,040
Where is he?
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00:10:01,400 --> 00:10:03,640
Your guess would be
as good as mine, Mr. Morgan.
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00:10:14,520 --> 00:10:16,440
[faint shouting]
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00:10:55,280 --> 00:10:56,960
[male newscaster]
A decade ago, Naples...
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00:10:57,000 --> 00:10:59,080
I was wondering
what happened to you.
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00:10:59,120 --> 00:11:01,200
I'm protecting our investment.
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-Where?
-[Sofia]
A little fishing village
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on the Amalfi coast.
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00:11:04,600 --> 00:11:06,560
Oh, I see.
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00:11:07,800 --> 00:11:09,320
Massimo's father is dying.
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00:11:09,360 --> 00:11:10,760
[Duval] And he brought you
along with him?
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00:11:10,800 --> 00:11:12,160
We need him in London.
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00:11:12,200 --> 00:11:15,400
I'm earning his trust.Remember?
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00:11:15,440 --> 00:11:17,800
You told me
to stick to him like glue.
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00:11:17,840 --> 00:11:20,520
Then use that trust
to get some answers.
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00:11:20,560 --> 00:11:22,480
That's exactly what I'm doing.
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00:11:25,920 --> 00:11:27,480
You know, Sofia...
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00:11:27,520 --> 00:11:29,880
I can't help feeling
that you missed
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00:11:29,920 --> 00:11:31,760
something on those CDO files.
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00:11:34,000 --> 00:11:35,320
What did I miss?
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00:11:39,040 --> 00:11:40,240
You're meant to tell methe answers
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00:11:40,280 --> 00:11:42,080
before I ask the questions.
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00:11:43,960 --> 00:11:45,240
If you can't...
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I'll get them myself.
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[glass shatters]
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00:11:57,800 --> 00:11:59,240
[Sofia pants]
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00:12:08,000 --> 00:12:09,320
[phone chimes]
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00:12:13,720 --> 00:12:15,760
-Massimo again?
-[Eleanor] I'm fucked.
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00:12:15,800 --> 00:12:18,640
Dominic wants to drive
the Italian bond auction low.
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00:12:18,680 --> 00:12:20,200
And bring down
the Italian government?
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00:12:20,240 --> 00:12:21,640
So tell him!
141
00:12:21,680 --> 00:12:23,360
If I do,
he'll tell me not to do it.
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00:12:23,400 --> 00:12:25,920
But Dominic's given mea direct order, so...
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00:12:25,960 --> 00:12:28,000
So you are fucked.
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00:12:28,040 --> 00:12:31,520
What if I persuadeall the clients to buyat the same price?
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00:12:31,560 --> 00:12:33,280
Low, but not so much.
146
00:12:33,320 --> 00:12:35,480
Then I don't have todefy Dominic or tell Massimo.
147
00:12:35,520 --> 00:12:38,880
Clever, but if just one of them
tries to down bid the others,
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00:12:38,920 --> 00:12:40,160
then you're doubly fucked.
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00:12:40,200 --> 00:12:42,200
So do I tell Massimo or not?
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00:12:42,840 --> 00:12:44,520
No idea.
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00:12:44,560 --> 00:12:46,480
I appreciate the help, Kalim.
152
00:14:29,720 --> 00:14:32,440
Well, over 20% of Europe's
population at this point
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00:14:32,480 --> 00:14:34,760
is at risk of poverty.
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00:14:46,760 --> 00:14:48,320
-Hey.
-Hi.
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00:14:52,920 --> 00:14:54,840
What happened?
156
00:14:54,880 --> 00:14:58,000
Someone threw it
through the window
this afternoon.
157
00:14:59,120 --> 00:15:01,680
I think this is for you,
for your father.
158
00:15:03,160 --> 00:15:05,040
But why threaten your father?
159
00:15:05,080 --> 00:15:07,240
He's suffering
just like they are.
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00:15:08,000 --> 00:15:09,240
I don't know.
161
00:15:10,440 --> 00:15:11,480
No idea?
162
00:15:11,520 --> 00:15:12,640
No.
163
00:15:13,600 --> 00:15:15,000
Okay.
164
00:15:15,040 --> 00:15:16,080
So...
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00:15:16,120 --> 00:15:17,600
what's the plan now?
166
00:15:19,320 --> 00:15:22,560
To go and see the mayorabout my father's boats.
167
00:15:22,600 --> 00:15:24,960
Then get the fuck
out of this place.
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00:15:25,000 --> 00:15:27,040
-Are you okay?
-Mm-hmm.
169
00:15:28,120 --> 00:15:30,560
[Eleanor]
Eleanor Bourg at NYL.
170
00:15:30,600 --> 00:15:33,320
I said I'd be calling
with something big.
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00:15:33,360 --> 00:15:35,360
Let's meet for a coffee,
talk about it.
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00:15:46,480 --> 00:15:48,080
Fantastic!
173
00:15:48,120 --> 00:15:51,000
This information
is confidential,
but guaranteed.
174
00:15:57,200 --> 00:16:00,040
Guaranteed. Guaranteed.
175
00:16:01,240 --> 00:16:03,800
[speaking foreign language]
176
00:16:04,920 --> 00:16:06,000
[sighs]
177
00:16:06,040 --> 00:16:08,280
This information
is confidential,
178
00:16:08,320 --> 00:16:09,600
and guaranteed.
179
00:16:11,800 --> 00:16:13,520
You know, after Lehman's,
180
00:16:13,560 --> 00:16:16,920
I couldn't even take my kids
to school without being abused.
181
00:16:16,960 --> 00:16:21,040
They thought I was a criminal
just because I worked
in finance.
182
00:16:22,040 --> 00:16:23,600
Scamming auctions...
183
00:16:23,640 --> 00:16:25,320
is a crime that confirms
all their suspicions.
184
00:16:25,360 --> 00:16:27,960
All I'm doing is
offering a valued client
185
00:16:28,000 --> 00:16:32,400
-a preferred price.
-What about your
other valued clients?
186
00:16:32,440 --> 00:16:35,400
-What about them?-You offer them the same price?
187
00:16:36,880 --> 00:16:39,160
Do you know that all the money
188
00:16:39,200 --> 00:16:41,120
your bank takes from
the Italian government
189
00:16:41,160 --> 00:16:42,760
could be used
to pay the salaries
190
00:16:42,800 --> 00:16:44,200
of teachers and doctors.
191
00:16:44,240 --> 00:16:46,560
You work fora private fund, Mr. Sarti,
192
00:16:46,600 --> 00:16:48,240
not the government.
193
00:16:49,000 --> 00:16:50,600
Is this about patriotism?
194
00:17:01,360 --> 00:17:02,480
Shit!
195
00:17:15,200 --> 00:17:16,520
[Vincenzo] Massimo.
196
00:17:29,160 --> 00:17:32,400
Vincenzo Manfredi,
nice to meet you.
197
00:17:32,440 --> 00:17:34,200
Sofia.
198
00:17:34,240 --> 00:17:36,120
Massimo and I were
best friends, right?
199
00:17:36,640 --> 00:17:38,000
Long time ago.
200
00:17:42,720 --> 00:17:45,280
[Vincenzo]
Sorry, would you mind
if Massimo and I have a chat?
201
00:17:46,600 --> 00:17:47,720
Thank you.
202
00:17:54,400 --> 00:17:55,520
[sighs]
203
00:17:59,720 --> 00:18:01,080
Massimo...
204
00:20:04,000 --> 00:20:06,000
[male newscaster]
Italy's returned to
the bond market,
205
00:20:06,040 --> 00:20:09,760
but despite the European
Central Bank
buying Italian debt
206
00:20:09,800 --> 00:20:13,160
to break down
the amount of interest
that Rome has to offer,
207
00:20:13,200 --> 00:20:15,960
there was relatively
weak demand...
208
00:20:16,000 --> 00:20:17,440
Did you think
I wouldn't find out
209
00:20:17,480 --> 00:20:19,200
you were undercutting us?
210
00:20:20,960 --> 00:20:22,360
We're a bank.
211
00:20:22,400 --> 00:20:25,120
We're servicing our customers
as best we can.
212
00:20:25,160 --> 00:20:26,600
[Jannone]
I represent a sovereign state,
213
00:20:26,640 --> 00:20:28,800
not some company
you can buy or short.
214
00:20:28,840 --> 00:20:30,320
Countries are companies.
215
00:20:30,360 --> 00:20:32,920
Italy is currently a company
that's on the ropes.
216
00:20:32,960 --> 00:20:34,360
We don't need to shill
217
00:20:34,400 --> 00:20:36,280
an auction for it
to go badly.
218
00:20:36,320 --> 00:20:39,040
[scoffs]
You-you have no principles.
219
00:20:40,000 --> 00:20:41,680
With all due respect,
Doctor,
220
00:20:41,720 --> 00:20:43,360
you should not talk to us
about principles.
221
00:20:43,400 --> 00:20:44,840
[Chris] Oh, for years,
we made everyone
222
00:20:44,880 --> 00:20:47,160
believe demand for your bonds
was sky-high,
223
00:20:47,200 --> 00:20:48,640
when we all knew it wasn't true.
224
00:20:48,680 --> 00:20:50,880
Our private debt is
among the world's lowest.
225
00:20:50,920 --> 00:20:53,360
Everyone in Italy has a home
and access to welfare.
226
00:20:53,400 --> 00:20:56,000
Private wealth is uselessif you don't tax it.
227
00:20:56,960 --> 00:20:58,200
W-we took hard decisions.
228
00:20:58,240 --> 00:20:59,560
"Hard decisions"?
229
00:21:00,760 --> 00:21:02,840
Your politicians have been
driving up public debt
230
00:21:02,880 --> 00:21:05,000
by buying votes
for 30 years.
231
00:21:05,040 --> 00:21:06,480
Restructural reform,
232
00:21:06,520 --> 00:21:09,400
cuts in spending, all waste.
233
00:21:09,440 --> 00:21:11,800
You can shift the blame
for this mess all you like.
234
00:21:11,840 --> 00:21:15,200
But our next auction
will not be yours to corrupt.
235
00:21:23,760 --> 00:21:26,440
Someone told him
he was being undercut.
236
00:21:28,160 --> 00:21:29,560
Who was it?
237
00:21:29,600 --> 00:21:31,160
It had to be Mr. Sarti.
238
00:21:32,080 --> 00:21:33,400
That's on you.
239
00:21:33,440 --> 00:21:34,800
[Chris] No, I have to take
responsibility
240
00:21:34,840 --> 00:21:35,880
for Eleanor's appointment.
241
00:21:35,920 --> 00:21:36,960
Excuse me?
242
00:21:37,000 --> 00:21:38,440
Well, Massimo always insisted
243
00:21:38,480 --> 00:21:41,480
that she was the best
salesperson we had.
244
00:21:41,520 --> 00:21:44,320
Perhaps his judgment
was clouded by, um...
[clears throat]
245
00:21:45,000 --> 00:21:46,240
other factors.
246
00:21:49,480 --> 00:21:51,760
You're welcome
to review my record.
247
00:21:51,800 --> 00:21:53,240
What you won't find amongst
248
00:21:53,280 --> 00:21:54,600
the hundreds of millionsI've made for this bank
249
00:21:54,640 --> 00:21:56,720
is a promotion as a resultof my boss dying!
250
00:21:56,760 --> 00:21:58,240
-[Dominic] You know what?
-Sorry, I think you crossed
the line.
251
00:21:58,280 --> 00:21:59,920
Hey! You know what
I care about? Results!
252
00:21:59,960 --> 00:22:01,560
If you're good, prove it!
253
00:22:01,600 --> 00:22:04,320
All the other bullshit,take it somewhere else!Go! Out!
254
00:22:29,080 --> 00:22:30,400
[camera beeps]
255
00:22:50,480 --> 00:22:51,960
[Duval]
It's an internal document
256
00:22:52,000 --> 00:22:54,120
from the New York LondonInvestment Bank.
257
00:22:54,160 --> 00:22:56,960
I want you to go throughevery fucking page with a comb
258
00:22:57,000 --> 00:22:59,520
-until you find something.
-What am I looking for?
259
00:22:59,560 --> 00:23:03,800
Fraudulent assets relating
to a nuclear plant in Moldova.
260
00:23:03,840 --> 00:23:05,160
Get to it.
261
00:23:12,240 --> 00:23:13,560
[Sofia sighs]
262
00:23:16,240 --> 00:23:17,800
You can help him.
263
00:23:22,480 --> 00:23:24,400
But I'm not sureI want to.
264
00:23:26,680 --> 00:23:28,240
Let me tell you something.
265
00:23:30,800 --> 00:23:32,560
This town is exactly
266
00:23:32,600 --> 00:23:36,280
just like the place
where I grew up in Argentina.
267
00:23:36,320 --> 00:23:38,520
And the story's the same story.
268
00:23:39,760 --> 00:23:41,120
Banks came in,
269
00:23:41,160 --> 00:23:43,440
took all the money...
270
00:23:45,080 --> 00:23:47,160
and people suffered and died.
271
00:23:47,200 --> 00:23:48,720
People like my brother...
272
00:23:49,760 --> 00:23:51,360
suffered and died.
273
00:23:54,520 --> 00:23:56,560
-But they're not my people.
-They're not your people?
274
00:23:56,600 --> 00:23:59,080
Yeah, because you're so much
better, right, Massimo?
275
00:23:59,120 --> 00:24:01,880
-You have this beautiful life.
-Oh, come on.
276
00:24:01,920 --> 00:24:03,200
Lucky you.
277
00:24:03,240 --> 00:24:05,000
Well, even if you
don't belong here,
278
00:24:05,040 --> 00:24:07,760
this is still your hometown.
279
00:24:07,800 --> 00:24:10,480
And these are still
the people you grew up with.
280
00:24:10,520 --> 00:24:13,120
And it would be
so easy for you.
281
00:24:14,920 --> 00:24:16,200
[exhales]
282
00:24:35,000 --> 00:24:37,200
[screams]
283
00:24:37,840 --> 00:24:39,680
[sighs]
284
00:25:47,840 --> 00:25:49,200
[Massimo coughs]
285
00:26:10,000 --> 00:26:11,360
[groans]
286
00:26:18,240 --> 00:26:20,280
[Massimo coughs]
287
00:26:41,760 --> 00:26:49,600
[grunts]
288
00:26:51,000 --> 00:26:53,120
Stop it! Stop it!
289
00:27:03,560 --> 00:27:04,680
Get off him!
290
00:27:14,600 --> 00:27:15,720
[Sofia] Let's go.
291
00:28:05,920 --> 00:28:07,240
Let's go.
292
00:28:09,200 --> 00:28:10,680
Massimo, let's go.
293
00:28:28,200 --> 00:28:29,800
[phone line rings]
294
00:28:30,840 --> 00:28:33,320
Oh, come on!
295
00:28:33,360 --> 00:28:36,040
[female operator
speaking foreign language]
296
00:28:36,080 --> 00:28:37,560
-Fuck.
- [male newscaster] The last
time there was a collection
297
00:28:37,600 --> 00:28:39,760
was the week before Christmas.
298
00:28:39,800 --> 00:28:42,120
The Italian government says
local council
299
00:28:42,160 --> 00:28:44,360
and organized crime
are to blame.
300
00:28:44,400 --> 00:28:45,520
Hm.
301
00:28:46,480 --> 00:28:47,760
Where's Massimo?
302
00:28:47,800 --> 00:28:49,640
I don't fucking know.
303
00:28:52,360 --> 00:28:54,320
Do you always do
what he says?
304
00:28:56,680 --> 00:28:58,000
Good night, Oliver.
305
00:28:59,920 --> 00:29:01,320
You owe me a favor.
306
00:29:03,000 --> 00:29:04,400
For that favor...
307
00:29:05,720 --> 00:29:07,160
I'm callin' it in.
308
00:29:11,680 --> 00:29:14,280
[Oliver laughs]
309
00:29:14,320 --> 00:29:17,160
How many times a day
do guys try and chat you up?
310
00:29:17,200 --> 00:29:19,560
[stammers] Who knows?
311
00:29:19,600 --> 00:29:21,440
Used to be worse
when I was up and coming.
312
00:29:21,480 --> 00:29:24,600
Ah. Now that you made it,
what, they leave you alone?
313
00:29:25,320 --> 00:29:27,040
It's just different.
314
00:29:27,080 --> 00:29:28,360
Anything big goes wrong,
315
00:29:28,400 --> 00:29:30,200
it's because the woman's
been over-emotional.
316
00:29:30,240 --> 00:29:31,560
[Oliver] Huh.
317
00:29:32,720 --> 00:29:34,160
How do you deal with that?
318
00:29:35,320 --> 00:29:37,240
Not very well this time.
319
00:29:40,160 --> 00:29:42,120
[Oliver] So...
320
00:29:42,160 --> 00:29:43,960
If you can't get this, uh,
321
00:29:44,000 --> 00:29:46,600
Sarti character back onside...
322
00:29:47,520 --> 00:29:48,640
you're screwed?
323
00:29:49,400 --> 00:29:51,400
Years of building a career...
324
00:29:51,960 --> 00:29:53,280
gone.
325
00:29:56,960 --> 00:29:58,240
Anyway...
326
00:30:01,800 --> 00:30:03,080
Thanks.
327
00:30:08,520 --> 00:30:10,640
[journalist]
Italy's too big to fail,
isn't it?
328
00:30:10,680 --> 00:30:12,480
[man]
Exactly. It's too big to fail
329
00:30:12,520 --> 00:30:14,760
and there isn't enough
money to save it.
330
00:30:14,800 --> 00:30:17,800
[male newscaster]
Italy's sucked into
the continent's debt crisis.
331
00:30:17,840 --> 00:30:20,000
[female newscaster]
Just how bad is
Italy's economy doing?
332
00:30:31,800 --> 00:30:33,200
[Massimo sighs]
333
00:30:33,800 --> 00:30:36,560
Hey. How are you?
334
00:30:36,600 --> 00:30:37,760
Let me see.
335
00:30:39,160 --> 00:30:40,600
[Massimo] Oh, I'm fine.
336
00:30:47,880 --> 00:30:49,600
What were you trying to do?
337
00:30:50,280 --> 00:30:51,640
Punish yourself?
338
00:30:55,480 --> 00:30:56,600
I don't know.
339
00:30:59,200 --> 00:31:02,040
Stefano saidyou killed his father.
340
00:31:08,600 --> 00:31:10,000
He drowned...
341
00:31:13,240 --> 00:31:15,400
after we stole his boat.
342
00:31:16,840 --> 00:31:18,280
Who's "we"?
343
00:31:24,200 --> 00:31:25,480
Vincenzo...
344
00:31:25,520 --> 00:31:27,080
and me.
345
00:31:28,200 --> 00:31:30,680
[Sofia]
Vincenzo the mayor?
346
00:31:32,080 --> 00:31:33,400
Yes.
347
00:31:34,000 --> 00:31:35,360
Talk to me.
348
00:31:37,000 --> 00:31:38,800
Tell me what happened.
349
00:31:48,360 --> 00:31:49,800
[Sofia]
How long were you here?
350
00:31:53,520 --> 00:31:54,680
[Massimo sighs]
351
00:31:56,960 --> 00:31:58,240
Two years.
352
00:32:02,960 --> 00:32:04,080
How did Stefano's father
353
00:32:04,120 --> 00:32:06,160
even get into the water?
354
00:32:08,360 --> 00:32:10,560
He was rowing out
to catch us.
355
00:32:13,920 --> 00:32:15,480
We were going
to hit his boat.
356
00:32:15,520 --> 00:32:18,360
I... I shouted at Vincenzo
to slow down,
357
00:32:18,400 --> 00:32:20,640
but he couldn't hear me
over the engine.
358
00:32:25,480 --> 00:32:28,600
It wasn't your fault.You were just a boy.
359
00:32:31,520 --> 00:32:34,600
[boys' voices]
360
00:32:37,000 --> 00:32:39,040
[chains jangling]
361
00:32:44,000 --> 00:32:46,800
[boys' voices continue]
362
00:32:52,480 --> 00:32:54,280
[Massimo]
It's not what the judge said.
363
00:32:57,800 --> 00:32:59,480
What happened to Vincenzo?
364
00:33:04,520 --> 00:33:06,320
Nothing.
365
00:33:06,360 --> 00:33:08,120
[Sofia]
What do you mean "nothing"?
366
00:33:11,600 --> 00:33:14,200
Vincenzo's father
was a powerful man.
367
00:33:15,880 --> 00:33:19,360
He was never going to
allow manslaughter
on his son's record.
368
00:33:21,160 --> 00:33:22,520
So...
369
00:33:24,080 --> 00:33:25,920
He paid my father...
370
00:33:25,960 --> 00:33:27,560
to keep Vincenzo out of it.
371
00:33:29,200 --> 00:33:30,800
We were badly off.
372
00:33:32,640 --> 00:33:37,400
So he took that money
to buy his first boat.
373
00:33:47,800 --> 00:33:50,320
Everyone kept their mouth shut,
374
00:33:51,400 --> 00:33:53,160
so I could take the fall.
375
00:34:07,120 --> 00:34:09,640
The boy who killed
Stefano's father.
376
00:34:21,840 --> 00:34:23,640
[indistinct chatter]
377
00:34:33,840 --> 00:34:38,640
[Oliver] I hear they make
a decent Italian coffee here,
Mr... Sarti.
378
00:34:39,200 --> 00:34:41,160
Have we met?
379
00:34:41,200 --> 00:34:43,960
I work at
New York London Bank.
380
00:34:44,000 --> 00:34:46,960
Your colleague has calledfor reinforcements.
381
00:34:47,000 --> 00:34:49,640
Listen, please just leaveand let me enjoy my espresso.
382
00:34:49,680 --> 00:34:52,920
No, I'm new to this
bank actually, but, uh...
383
00:34:52,960 --> 00:34:55,280
You've been in this business
a long time, haven't you?
384
00:34:56,840 --> 00:34:58,160
It must be tough.
385
00:34:59,120 --> 00:35:01,280
It must be.
Constant pressure,
386
00:35:01,320 --> 00:35:03,560
risks, the scams...
387
00:35:03,600 --> 00:35:06,560
It's a bit unsavory
for a man of your character.
388
00:35:06,600 --> 00:35:09,080
You know nothing
about my character.
389
00:35:09,120 --> 00:35:12,440
I know that you applied for
a job at the IMF last year.
390
00:35:12,480 --> 00:35:16,160
A job where you wouldn't
have to get your hands dirty.
391
00:35:16,200 --> 00:35:18,960
Where you could work
to change things from above.
392
00:35:19,000 --> 00:35:20,760
-What's your point, Mr...?
-Harris.
393
00:35:20,800 --> 00:35:21,840
[Sarti] Harris.
394
00:35:21,880 --> 00:35:23,680
Oliver Harris.
395
00:35:23,720 --> 00:35:27,000
Now, you didn't get the job
at IMF last year, did you?
396
00:35:28,000 --> 00:35:29,520
But my boss...
397
00:35:29,560 --> 00:35:32,000
Dominic Morgan...
398
00:35:33,160 --> 00:35:34,600
he's a powerful man.
399
00:35:35,600 --> 00:35:37,600
Do a service
for Mr. Morgan
400
00:35:38,040 --> 00:35:39,200
and the bank...
401
00:35:39,240 --> 00:35:41,560
it'll do a service for you.
402
00:35:41,600 --> 00:35:44,680
In Italy,we call this corruption.
403
00:35:46,880 --> 00:35:48,200
Well, here...
404
00:35:53,400 --> 00:35:55,000
we call it sliding doors.
405
00:36:05,880 --> 00:36:07,280
[sighs]
406
00:36:26,840 --> 00:36:28,240
[exhales]
407
00:37:28,800 --> 00:37:31,000
[indistinct chatter]
408
00:37:40,840 --> 00:37:42,360
What is Sarti doing here?
409
00:37:42,400 --> 00:37:44,640
You two,
Mr. Morgan's office.
410
00:37:45,440 --> 00:37:46,600
Now.
411
00:37:47,280 --> 00:37:48,400
Did you fuck me over?
412
00:37:48,440 --> 00:37:50,400
You did that
all by yourself.
413
00:37:57,400 --> 00:37:59,000
Look, would you excuse me,let me take care of this?
414
00:37:59,040 --> 00:38:00,400
-Of course.
-Thank you.
415
00:38:16,200 --> 00:38:17,800
Sarti just left.
416
00:38:19,320 --> 00:38:21,680
Oliver informs me that...
417
00:38:22,760 --> 00:38:24,080
you offered him a bribe.
418
00:38:25,480 --> 00:38:27,360
A job at the IMF.
419
00:38:27,400 --> 00:38:29,680
-Mr. Morgan, I--
-[Dominic]
It's a little obvious.
420
00:38:31,920 --> 00:38:33,200
But effective.
421
00:38:34,520 --> 00:38:36,120
Sarti's going to keep
his mouth shut.
422
00:38:36,160 --> 00:38:38,280
Congratulations.
423
00:38:38,320 --> 00:38:39,960
I just did my job, Mr. Morgan.
424
00:38:40,000 --> 00:38:41,360
Really well done.
425
00:38:42,480 --> 00:38:44,800
[Dominic]
Okay, that's all. Thank you.
426
00:39:01,120 --> 00:39:03,440
[car engine starts]
427
00:39:12,840 --> 00:39:14,240
[sighs]
428
00:42:23,400 --> 00:42:25,360
[woman]
429
00:42:39,480 --> 00:42:42,080
[audience laughs]
430
00:42:46,200 --> 00:42:47,760
Who made you
shill the auction?
431
00:42:47,800 --> 00:42:50,120
I had no choice, Massimo.
432
00:42:50,160 --> 00:42:52,240
You know that, don't you?
433
00:42:54,200 --> 00:42:55,520
Yes, I know.
434
00:43:00,000 --> 00:43:01,320
Bye.
435
00:43:03,760 --> 00:43:05,120
[Sofia] What?
436
00:43:06,200 --> 00:43:07,960
Dominic's attacking Italy.
437
00:43:08,000 --> 00:43:10,960
The other countries
will follow now.
438
00:43:11,000 --> 00:43:12,120
When are you
going to be back?
439
00:43:12,160 --> 00:43:13,960
I don't know.
440
00:43:14,000 --> 00:43:16,000
I'm going to stay
a little longer.
441
00:43:17,000 --> 00:43:18,400
You did the right thing.
442
00:43:20,000 --> 00:43:21,160
For the town.
443
00:43:21,200 --> 00:43:22,560
For yourself.
444
00:43:26,440 --> 00:43:29,080
I wish you didn't
have to go back to London.
445
00:43:29,120 --> 00:43:30,600
I wish neither of us did.
446
00:43:34,800 --> 00:43:37,560
[whispering]
We could run off to an island.
447
00:43:40,360 --> 00:43:41,760
Do you want to come?
448
00:44:23,800 --> 00:44:25,680
[airplane landing]
449
00:44:43,680 --> 00:44:45,000
[grunts]
450
00:44:56,200 --> 00:44:57,640
[Duval]
Had a nice time?
451
00:45:02,000 --> 00:45:03,040
Where's Massimo?
452
00:45:03,080 --> 00:45:04,680
Still in Italy,
453
00:45:04,720 --> 00:45:06,440
with his father.
454
00:45:17,800 --> 00:45:19,240
So, what is it?
455
00:45:24,760 --> 00:45:26,320
[Duval] The CDO document.
456
00:45:26,360 --> 00:45:28,440
Why didn't you tell me
you had it?
457
00:45:29,240 --> 00:45:30,800
You went through my things?
458
00:45:30,840 --> 00:45:32,040
Answer the question,
please.
459
00:45:32,080 --> 00:45:34,000
Uh, you don't
trust me anymore?
460
00:45:36,280 --> 00:45:39,920
This CDO is guaranteed
on fraudulent assets
461
00:45:39,960 --> 00:45:42,800
and an abandoned nuclear plant.
462
00:45:42,840 --> 00:45:45,200
You said you didn't
find anything in Moldova.
463
00:45:46,080 --> 00:45:47,400
That's right, I didn't.
464
00:45:47,440 --> 00:45:49,560
What about the photos
in your camera?
465
00:45:55,200 --> 00:45:56,680
The plant was abandoned,
466
00:45:56,720 --> 00:45:59,280
but the valuation
matched government records.
467
00:45:59,320 --> 00:46:01,560
There was nothing
fraudulent about it.
468
00:46:01,600 --> 00:46:03,120
Okay...
469
00:46:03,160 --> 00:46:04,520
You might have told me that.
470
00:46:05,400 --> 00:46:06,800
You might have asked.
471
00:46:09,400 --> 00:46:10,520
Well...
472
00:46:11,520 --> 00:46:13,560
it is a fraudulent asset,
all right.
473
00:46:13,600 --> 00:46:16,680
Which means we're sitting on
proof of a criminal conspiracy
474
00:46:16,720 --> 00:46:19,160
that could bring
Dominic Morgan and the NYL
475
00:46:19,200 --> 00:46:20,680
to their fucking knees.
476
00:46:24,600 --> 00:46:26,720
-Good news then.
-Yeah.
477
00:46:27,720 --> 00:46:29,040
Great news.
478
00:47:20,800 --> 00:47:22,080
[Massimo] Sí.
479
00:47:51,920 --> 00:47:53,760
[male newscaster]
The cost of Italy's borrowing
480
00:47:53,800 --> 00:47:56,160
has gone up to a record level
since the Eurozone deal.
481
00:47:56,200 --> 00:47:59,560
The country had to offer
a rate of return never seen
482
00:47:59,600 --> 00:48:01,720
since joining
the single currency.
483
00:48:01,760 --> 00:48:04,560
It had to promise the return
of more than six percent
484
00:48:04,600 --> 00:48:08,120
as opposed to 5.8%
a month ago.
485
00:48:08,160 --> 00:48:10,680
And there now concerns
that Italy's on its way
to becoming
486
00:48:10,720 --> 00:48:12,880
the next victim of
the European debt crisis.
487
00:48:12,920 --> 00:48:15,440
[female newscaster]
Investors bet that
Silvio Berlusconi's days
488
00:48:15,480 --> 00:48:17,280
as Prime Minister
are numbered.
489
00:48:25,280 --> 00:48:27,440
[Eleanor moans]
490
00:48:27,480 --> 00:48:29,040
[grunts]
491
00:48:50,200 --> 00:48:51,520
[EKG machine beeps]
492
00:48:58,320 --> 00:49:00,280
[critical beeping]
493
00:49:00,320 --> 00:49:02,240
[high-pitched beeping]
494
00:50:15,240 --> 00:50:17,400
[seagull squawks]
495
00:51:00,600 --> 00:51:03,440
[trumpets sound]
496
00:51:11,320 --> 00:51:14,000
[female newscaster]
Was this the moment
that brought the curtain down
497
00:51:14,040 --> 00:51:17,240
on Silvio Berlusconi's
long running one-man show?
498
00:51:17,280 --> 00:51:20,160
[male newscaster]
Mr. Berlusconi
finally resigned last night.
499
00:51:20,200 --> 00:51:21,840
[male newscaster 2]
If the worst does happen,
500
00:51:21,880 --> 00:51:25,040
what you're saying is,
Italy's too big to rescue.
501
00:51:25,080 --> 00:51:26,520
Well, hang on a minute.
Wasn't it too big
502
00:51:26,560 --> 00:51:28,560
to be accepted into
the Eurozone club
503
00:51:28,600 --> 00:51:31,000
in the first place,
if it was ever too big
to rescue?
504
00:51:31,040 --> 00:51:32,600
How did they invite it in?