Margin Call
“There are three ways to make a living in this business: Be first. Be smarter. Or cheat.” --John Tuld, “Margin Call” Director J.C. Chandor’s “Margin Call” (2011) opens with a long, notable sequence that truthfully highlights the main cause of the 2008 financial crisis. Here we see Eric Dale (Stanley Tucci), who heads the Risk Management division, getting fired by his firm. Surely, those were extraordinary times, calling for cutbacks and reducing operating costs. But of all the employees, firing the Risk Manager of a financial firm is not the right place to start the layoffs. Not only does a move like this spell fear within the organization, but it also shows how “smart” people on Wall Street were acting without any concrete business strategy. After all, it is the responsibility of a Risk Manager to assess the risks posed by complex financial instruments. Risk management is an integral component of any financial firm, and in ideal market conditions, mortgage-backed ...