Margin Call · written by J.C. Chandor · 2011

Will tells Seth he will probably be fired and defends the banking system while preparing to betray longstanding counterparties.

Scene 63 of 76 · ≈ 4 min on screen · Act three

Seth
Will Emerson
Will

Act oneAct twoAct three

Begins 1:13 into a 1:36 film

The story so farBefore scene 63

When a junior analyst discovers exposure that could wipe out his investment bank, its executives race to unload the danger on their customers while a veteran executive confronts the price of helping them survive.

Scenes 1–12
The bank’s surviving employees return to familiar routines after firing Eric; Sam manages the floor while his dog is dying.
Scenes 13–23
Peter uncovers a threat to the firm’s survival and forces Will and Sam to respond.
Scenes 24–33
Peter’s work travels upstairs; Sam and the juniors enter Jared’s executive world and expose the scale of the risk.
Scenes 34–44
Management checks the model, debates its implications and brings Tuld into the emergency.
Scenes 45–46
Tuld offers a way for the bank to survive: sell before everyone else understands the risk; Sam names the price in broken trust.
Scene 57
Sam tells Tuld he is completely with the firm despite his reservations, committing his authority to the sale.
Just before
Scene 60
Alone in her office, Sarah tries to cry and then to laugh, but cannot express either response.
Scene 61
Outside Eric’s townhouse, Will orders Seth to accompany him, then allows him to remain in the car.
Scene 62
Eric recalls the public value of a bridge he built; Will urges him to accept payment and return as the firm’s car arrives.
Scene 63
This scene

63INT. WILL EMERSON’S CONVERTIBLE - DAY

WILL and SETH are driving slowly towards downtown Manhattan which spans up and out in front of them through the windshield. There is a long silence, and finally.

SETH

So, am I getting fired?

WILL EMERSON

I don’t know.

Very long pause, then he looks over at SETH and decides whether to tell the truth.

WILL EMERSON (cont’d)

Probably...yes...almost definitely.

SETH

Are you?

WILL EMERSON

No.

This clearly hits SETH but he recovers quickly.

SETH

Oh.

WILL EMERSON

It’s not personal, you’re just in the

wrong place at the wrong time, the young

guys are always the first to go. Nothing

I say is gonna make you feel any better.

SETH

I get it.

SETH looks over at WILL and around at the interior of the luxury car and then back into the city.

SETH (CONT’D) (cont’d)

When did you know this is what you wanted

to do?

He thinks that through.

WILL EMERSON

The first time I made 36 million dollars

for the firm in the last eleven minutes

of the trading day.

SETH

Fuck me.

WILL EMERSON

It was a perfect trade...I saw it coming

from three days away. I took my time. I

was in, I was out...Pish posh...And it

was beautiful.

SETH

How did you learn to do that?

WILL EMERSON

I’m not sure, and whatever it is it could

be gone tomorrow.

WILL looks out again at the city then to SETH.