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

Tuld rallies the trading floor before the market opens, promising the traders riches while others lose.

Scene 70 of 76 · ≈ 1 min on screen · Act three

John Tuld

Act oneAct twoAct three

Begins 1:27 into a 1:36 film

The story so farBefore scene 70

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.
Scenes 47–68
The solution consumes Sarah’s job, Eric’s freedom to leave, Seth’s prospects and Sam’s claim to refuse.
Just before
Scene 67
After crying in a bathroom stall, Seth confronts Jared about being fired and says banking was all he ever wanted.
Scene 68
Confined together, Eric and Sarah acknowledge their warnings and compromises; Eric explains the threats and payment that brought him back.
Scene 69
Sam briefs the traders on the fire sale, offers enormous bonuses and admits success may destroy their jobs.
Scene 70
This scene

70INT. TRADING FLOOR- 8:20 AM

There is a very quiet energy on the floor. A low murmur. Then a hush falls over the floor as people pass on the info that the CEO, JOHN TULD is about to come onto the floor. He appears at one end of the floor and it falls silent. JOHN walks dramatically into the middle of the floor and then into the middle of the row in the dead middle of the floor. He looks around and stands in letting the drama build. Then he climbs up onto the desk and looks out onto the floor like a general.

JOHN TULD

By the end of today almost everyone else

in the world, including me, will have

considerably less money than they began

the day with..... You, in this room, are

the exception. You will leave here today

richer. You will fire the first shot, I

wish it didn’t have to be, but at times

the market must eat its weak, and you

all... are not the weak. We must strike

quick, with no doubt, if you hear pause

on the line, attack. By noon the SEC is

going to be in here getting in your

faces, sniffing around, you let us take

care of them and you just keep going. We

own what we are choosing to sell today

and there is nothing they can do about

it. 107 years ago this firm was founded,

today we secure our place for next 107.

You’ve got two minutes before we get

started. Let’s finish this, so we can get

on to the next one...

JOHN TULD climbs down from the table. SAM, who is standing off to the side, walks along the entire floor slowly and then heads into his office.