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FOLLOW US!
TT
IG
YT
@loschulosteam
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Today, the U.S. Senate Committee
on Government Operations
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begins hearings on
government-insured banks.
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Our concern is whether the laws in
vigor are adequate to guarantee
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character, experience and integrity
of the people who buy these banks,
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what are the pillars
of American capitalism
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and the basis of the American dream.
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INSPIRED BY TRUE EVENTS
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Careful, Bernard,
They want to use you as an example.
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The committee calls
Bernard S. Garrett to testify.
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Mr. Garrett,
I think you know how it works.
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Carlyle and Spring?
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That. Annual rental income
It's $80,000, which is solid,
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but Mr. Miller wants to evaluate
with a multiplier of six.
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It's too high.
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He arrives in an hour to negotiate.
Maybe you can interfere.
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He is well.
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The boy polishes very well.
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He's more dedicated than most.
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6 X - TOO HIGH
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No comparison in Willis,
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but see the other properties
that I own in the county.
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A multiple of six is reasonable.
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Its other buildings are in Conroe,
which is booming with oil.
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I don't know if this is
a good comparative analysis.
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Willis grows up too.
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What are you doing up there,
boy?
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Spying on the
white people's business?
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Come back here!
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I'll tell your father everything!
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Watch out, boy!
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What do you think white people would do if
Did they know you were spying on them?
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I grew up watching boys be
killed for much less.
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Do you know what it's like to see a boy
be hanged from a tree?
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And don't think that because there isn't
happened cannot happen again.
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I just wanted to learn
how they make money.
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CURRENT ANNUITY VALUE
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You are so talented.
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How did you learn all this?
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You were born with the wrong color,
son.
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A black man cannot
make money like that.
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The white man won't let it,
even if you are great.
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Maybe not in Texas.
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Do you really think it will be different?
if you go somewhere else?
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We are in California.
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What it was?
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It's just that I'm excited
to have dinner with your uncle.
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The airlines
they are doing very well.
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Northrop aims to hire 5,000
employees for the assembly line
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and hire people like us.
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Can I get you
an interview tomorrow.
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Thanks. But I came here to try
life in the real estate sector.
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There are not many
black real estate agents.
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I want to buy
properties and rent them.
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Is your husband a millionaire, Eunice?
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Deacon.
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I hope you're almost there,
boy.
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This is not a
small town in Texas.
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Real estate here is expensive.
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Bernard saved money from a
company we had in Houston.
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What do you intend to do until you find
anything I can buy?
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Keep looking.
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And spend your savings
down to the last penny?
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And not being able to pay rent?
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Deacon, stop.
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You will have your rental at
first day of the month,
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a month in advance.
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I'll put Bernard
Jr. to sleep.
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Excuse me.
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Eunice, what does your husband have
against working?
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If we have to complement our
income until he finds the right property,
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I will work at
Plantation Club.
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That is no place
of married woman working.
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Does Bernard think it's good for you to come back?
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We didn't have a chance
to talk about it.
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A man of
truth would not allow it.
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It's not his decision.
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Like this?
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My husband is a genius.
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You will see.
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I know this isn't a big deal.
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I don't intend to stay
here a long time.
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Why is he so demanding of you?
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I don't want Bernard Jr.
Grow up in a shack.
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Well, I grew up in a shack.
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Abraham Lincoln
grew up in a shack.
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Abraham Lincoln
grew up in a cabin.
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That's what they call a shack
when it is in a forest.
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There's no difference.
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I'll take you out and
him from this shack.
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As soon as possible.
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Thanks for the ride.
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For nothing.
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Sorry about my father,
was an idiot yesterday.
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He was? I didn't notice.
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What a cool car.
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Thanks.
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Bernard, this is my friend Matt.
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You didn't tell me you had
a rich uncle. Great pleasure.
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Nothing rich. And I'm his cousin.
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If you have a car,
For me, it's rich.
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I hope you
find the right place.
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How does your cousin make a living?
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He owns buildings.
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True?
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Our.
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Hello, my name is Bernard Garrett.
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I saw your property on Victoria Road.
I would like to know the price...
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FOR SALE
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Hello, my name is Bernard Garrett.
You own 12...
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Hello, my name is Bernard Garrett.
I invest in real estate.
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How much are you asking?
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All this?
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How can a price like that be,
considering current rents...
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How many units does the building have?
and how much are...
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The building needs some work.
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Maybe we can negotiate...
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Right. I understand.
Thanks for your attention.
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FOR SALE. COME IN AND ASK FOR DETAILS.
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This is a white neighborhood,
Bernard.
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It won't be white
for a long time.
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The black neighborhood is two
blocks and is no longer able to handle it.
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How much Barker and
Associates want it?
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We have enough to buy.
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But there won't be any left
nothing for the reforms.
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And if I could
a co-investor?
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All right, guys. It was too much.
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Joe!
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Eunice!
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You came back to me.
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Look at you.
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So as to. Calm down.
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Honey.
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Who is this?
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Whose uncle
Did you keep talking?
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Husband.
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Your sea... What?
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Wait a minute.
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Three years.
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Congratulations, boy.
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You won the lottery.
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If you like being married.
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I don't like it, but if I did, no one
would be better than Eunice Perkins.
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Garrett.
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It's a pleasure, Garrett.
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No, call me Bernard.
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I heard "Garrett".
Didn't you say "Garrett"?
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That's what I heard.
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I'm just messing with you, man.
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Want a drink?
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It's four in the afternoon.
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I know. Are you
starting late.
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I'm going to make it very strong.
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Jackie, do something really strong
for my friend here.
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A triple.
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00:09:56,930 --> 00:09:59,183
To see if we let him
less ironed.
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You didn't even talk to
him about his idea.
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00:10:03,187 --> 00:10:05,105
There's no way
I do business with this guy.
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00:10:05,189 --> 00:10:07,649
No loan. And a lot
less commercial partnership.
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00:10:07,733 --> 00:10:08,734
He's a degenerate.
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Bernard, please!
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I don't need his help.
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You were left with a
wrong image of him.
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Serious? Do you really think so?
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The good manners police
don't think like that.
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That's the mayor, you fool.
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Do you want to meet him?
Because he is Joe's friend.
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No.
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00:10:33,467 --> 00:10:35,135
If you won't let
Joe invest,
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will have to do the
Barker lower the price.
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The price is $40,000.
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You won't get anything above 35.
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Are you offering 35?
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I can give you 30.
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00:10:52,569 --> 00:10:55,072
Why would you take
30 if I can be 35?
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00:10:55,155 --> 00:10:57,950
The building needs renovations
to generate its real value.
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My tenants don't complain.
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00:10:59,493 --> 00:11:01,453
Your tenants only occupy
half of the building.
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00:11:01,828 --> 00:11:04,289
But with new kitchens
and new finish on the floor...
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00:11:04,373 --> 00:11:08,168
My tenants won't pay anymore,
even if the floor is a mirror.
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00:11:08,252 --> 00:11:09,670
Mas outro mercado, sim.
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00:11:10,629 --> 00:11:13,340
Doctors, lawyers,
professores negros
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00:11:13,423 --> 00:11:16,802
who want to leave the ghettos
in which they were forced to live.
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00:11:17,302 --> 00:11:19,096
Nobody works
with this market.
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00:11:19,179 --> 00:11:20,180
Mas eu posso.
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Your confidence impresses me.
187
00:11:24,518 --> 00:11:28,230
But $10,000 a
less is not enough.
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After I rent the units,
I can pay you what you ask.
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Let's say until...
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OCTOBER
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June.
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00:11:34,778 --> 00:11:39,199
Want me to lend you $10,000
to buy my building?
193
00:11:39,283 --> 00:11:40,868
Não é empréstimo.
It's an investment.
194
00:11:40,951 --> 00:11:42,077
It's a loan.
195
00:11:42,661 --> 00:11:46,206
For more than triple the average income
of an American family.
196
00:11:46,290 --> 00:11:48,500
- Two point four times more.
- What?
197
00:11:48,584 --> 00:11:53,172
The average American income
in 1953 it was $4,233.
198
00:11:53,255 --> 00:11:56,508
Ten thousand is 2.4 times
the average income.
199
00:11:58,468 --> 00:12:02,514
I admire your
business enthusiasm,
200
00:12:02,598 --> 00:12:05,517
but it's not like that
that I conduct business.
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00:12:06,935 --> 00:12:07,936
I am really sorry.
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COURTESY OF EDWARD REED.
MID CITY BANK
203
00:12:15,986 --> 00:12:17,654
Thanks for your attention,
Mr Barker.
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00:12:35,047 --> 00:12:36,048
MID CITY BANK
205
00:12:36,131 --> 00:12:37,508
Look who's coming in.
206
00:12:37,591 --> 00:12:39,009
This black man is well dressed.
207
00:12:39,927 --> 00:12:40,927
Let's see.
208
00:12:41,595 --> 00:12:44,556
I'm Bernard Garrett. I would like
to speak with Mr. Reed.
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00:12:44,640 --> 00:12:47,309
Sorry, Mr. Reed is out.
Want to leave a message?
210
00:12:49,144 --> 00:12:52,940
I have good eyesight and can read
the name plate on his desk.
211
00:12:54,399 --> 00:12:56,151
Sorry. I was wrong.
212
00:12:57,194 --> 00:12:58,946
Mr. Reed cannot
talk to you now.
213
00:12:59,029 --> 00:13:00,280
But I can get the message.
214
00:13:02,157 --> 00:13:04,535
No. There is no message.
215
00:13:05,410 --> 00:13:06,411
Thanks.
216
00:13:07,996 --> 00:13:09,998
629 S. HILL ST
LOS ANGELES, CALIFORNIA
217
00:13:15,587 --> 00:13:16,880
Mr. Reed.
218
00:13:16,964 --> 00:13:17,965
Do I know you?
219
00:13:18,048 --> 00:13:19,424
No, but you know Mr. Barker.
220
00:13:19,508 --> 00:13:21,385
I want a loan and
buy a building from him.
221
00:13:21,468 --> 00:13:23,637
You can make an appointment inside.
222
00:13:23,720 --> 00:13:26,765
We both know better
They will make an appointment inside.
223
00:13:27,766 --> 00:13:30,602
This business
will benefit Mr. Barker.
224
00:13:31,562 --> 00:13:32,563
You should listen to me.
225
00:13:35,232 --> 00:13:37,651
Your uncle will have a good laugh
with this story.
226
00:13:40,362 --> 00:13:42,990
Keep looking.
You'll find another building.
227
00:13:44,157 --> 00:13:45,158
AND.
228
00:13:47,828 --> 00:13:49,454
Let's go. Bedtime,
little boy.
229
00:13:50,289 --> 00:13:51,123
Yes?
230
00:13:51,206 --> 00:13:54,001
Bernard, call you.
231
00:13:59,006 --> 00:14:02,176
- Hello?
- Mr. Garrett. This is Patrick Barker.
232
00:14:02,801 --> 00:14:07,723
Used my name to get a loan
with Mr. Reed at the Mid City Bank?
233
00:14:08,307 --> 00:14:09,975
Well, let's say...
234
00:14:10,809 --> 00:14:11,809
yes.
235
00:14:12,519 --> 00:14:15,606
And you think this is okay
with business etiquette?
236
00:14:16,940 --> 00:14:18,775
If I followed
business etiquette,
237
00:14:18,859 --> 00:14:20,903
I would still be a shoeshine boy in Texas,
sir.
238
00:14:20,986 --> 00:14:23,572
I didn't ask about your biography,
Mr. Garrett.
239
00:14:23,655 --> 00:14:27,284
But if you thought you followed
business etiquette.
240
00:14:29,620 --> 00:14:31,038
- No.
- Great.
241
00:14:31,121 --> 00:14:32,789
At least in this
we agree.
242
00:14:34,833 --> 00:14:38,629
Reed wants you to go to the bank
morning to sign the loan.
243
00:14:39,213 --> 00:14:40,255
Forgiveness?
244
00:14:40,714 --> 00:14:42,841
I told him that
I will be your guarantor.
245
00:14:45,385 --> 00:14:46,428
Is it still there?
246
00:14:48,680 --> 00:14:50,265
Why are you doing this?
247
00:14:50,349 --> 00:14:52,100
Because business etiquette
248
00:14:52,184 --> 00:14:54,853
exists to harm
people like you, Mr. Garrett.
249
00:14:55,312 --> 00:14:58,315
Went to see Reed knowing that
the cards were marked
250
00:14:58,398 --> 00:15:01,193
because it has big
confidence in this business.
251
00:15:02,194 --> 00:15:04,112
That tells me
what I need to know about you.
252
00:15:07,324 --> 00:15:08,951
Well, do you want the loan or not?
253
00:15:12,037 --> 00:15:13,330
Yes.
254
00:15:18,043 --> 00:15:22,673
Sometimes you have to look from the outside and
enjoy what you got, darling.
255
00:15:55,914 --> 00:15:56,999
Do you like cigars?
256
00:15:58,625 --> 00:15:59,710
I don't smoke.
257
00:16:09,178 --> 00:16:11,096
I'm not taking your wife.
258
00:16:12,848 --> 00:16:15,934
Go to all the tables
to guarantee this to customers?
259
00:16:16,018 --> 00:16:18,645
No. It would have to
jump some tables.
260
00:16:21,023 --> 00:16:22,357
Come on, boy, relax.
261
00:16:22,441 --> 00:16:24,234
I'm not the idiot
who thinks I am.
262
00:16:24,318 --> 00:16:26,403
It's another kind of asshole, right?
263
00:16:29,573 --> 00:16:31,158
I've been told that, yes.
264
00:16:31,909 --> 00:16:33,535
He comes. Let's talk outside.
265
00:16:46,715 --> 00:16:48,133
What do you want from me, man?
266
00:16:48,717 --> 00:16:50,636
You mean, besides your wife?
267
00:16:53,764 --> 00:16:57,559
Look, I like to see
Black people succeeding.
268
00:16:57,643 --> 00:17:00,646
Sometimes I even invest my
money to support them.
269
00:17:02,022 --> 00:17:03,357
But you don't even know me.
270
00:17:03,440 --> 00:17:05,442
I know you're smart and ambitious.
271
00:17:06,818 --> 00:17:08,654
You and I know
that this is not enough.
272
00:17:08,737 --> 00:17:10,239
There's also a lot of anger.
273
00:17:11,114 --> 00:17:12,241
But it doesn't show.
274
00:17:12,824 --> 00:17:14,576
That's the best kind of anger.
275
00:17:14,660 --> 00:17:16,744
She cheers you up without
make you a target.
276
00:17:17,913 --> 00:17:18,914
I'm not angry.
277
00:17:22,041 --> 00:17:23,085
Yeah, I know.
278
00:17:27,923 --> 00:17:28,966
Your glasses are cool.
279
00:17:29,049 --> 00:17:30,467
Do you have myopia or hyperopia?
280
00:17:31,134 --> 00:17:32,135
Does it make a difference?
281
00:17:33,053 --> 00:17:35,138
I'm imagining
How would it be without them?
282
00:17:40,853 --> 00:17:42,437
Do you trust this Barker?
283
00:17:43,522 --> 00:17:44,773
He didn't need to help me.
284
00:17:45,858 --> 00:17:49,236
And if you can't finish the work
or rent the units on time?
285
00:17:50,112 --> 00:17:51,154
I'll make it.
286
00:17:53,156 --> 00:17:55,826
It saw? Anger.
287
00:17:57,536 --> 00:17:58,912
I'll get another drink.
288
00:18:03,917 --> 00:18:04,960
I'm not angry.
289
00:18:06,253 --> 00:18:07,337
Yes he has.
290
00:18:17,222 --> 00:18:18,765
What are you doing here?
291
00:18:19,224 --> 00:18:22,769
Madam, I'm Bernard Garrett.
292
00:18:22,853 --> 00:18:25,105
I'm renovating the
empty apartments.
293
00:18:25,522 --> 00:18:27,274
What are your working hours?
294
00:18:27,357 --> 00:18:31,278
The city says it must
be between 8am and 6pm.
295
00:18:31,361 --> 00:18:34,698
- If you need work done...
- I don't need works.
296
00:18:35,115 --> 00:18:37,868
And you can tell that Irishman
who owns this here,
297
00:18:37,951 --> 00:18:41,413
that when he raises the rents,
Mine won't go up.
298
00:18:41,496 --> 00:18:42,496
Yes, ma'am.
299
00:18:42,539 --> 00:18:45,751
Mr Barker was clear about his
rent when he sold me the building.
300
00:18:46,835 --> 00:18:49,004
Don't be cute, boy.
301
00:18:49,379 --> 00:18:50,881
This building is white.
302
00:18:51,715 --> 00:18:53,634
You can't
own it here.
303
00:19:04,061 --> 00:19:06,813
Why don't you get the scraper?
and starts at the other end?
304
00:19:07,356 --> 00:19:08,398
He is well.
305
00:19:10,234 --> 00:19:11,276
- Hi, man.
- Hi.
306
00:19:12,110 --> 00:19:13,195
Thanks for coming.
307
00:19:13,278 --> 00:19:14,279
You're welcome.
308
00:19:15,781 --> 00:19:16,865
How is it going?
309
00:19:17,491 --> 00:19:19,076
I can pay 1.50 an hour.
310
00:19:19,159 --> 00:19:20,410
It's great.
311
00:19:20,494 --> 00:19:22,204
Don't mind
work for me?
312
00:19:22,287 --> 00:19:24,122
Work for others
men all their lives.
313
00:19:24,206 --> 00:19:26,750
I know. But you don't care
to work for me?
314
00:19:27,876 --> 00:19:30,838
Your money is green. This is
the only color that interests me.
315
00:19:31,255 --> 00:19:33,549
And I like the idea that it will
build your business.
316
00:19:33,632 --> 00:19:35,759
It's something I'd like to do
again one day.
317
00:19:35,843 --> 00:19:36,885
"Again?"
318
00:19:36,969 --> 00:19:38,887
I tried to have one
business years ago.
319
00:19:38,971 --> 00:19:41,181
It was a drive-in ice cream shop.
320
00:19:41,974 --> 00:19:45,352
But nobody likes
to eat ice cream in the car.
321
00:19:48,480 --> 00:19:50,274
- Are you serious?
- Yes.
322
00:19:54,903 --> 00:19:56,280
- Let's work.
- Let's go.
323
00:19:59,616 --> 00:20:01,660
Clip this here. Like this.
324
00:20:04,162 --> 00:20:05,162
It should be good.
325
00:20:13,839 --> 00:20:14,840
Back.
326
00:20:19,178 --> 00:20:20,179
Right there.
327
00:20:20,846 --> 00:20:22,931
We want to shave those sills
to the front
328
00:20:23,015 --> 00:20:25,601
and paint all the way back
and then put stucco.
329
00:20:25,684 --> 00:20:28,020
Start at the top and work your way down.
330
00:20:28,103 --> 00:20:29,521
-Bernard Garrett.
- After...
331
00:20:31,064 --> 00:20:32,858
Yes, police officer. Any problems?
332
00:20:32,941 --> 00:20:34,610
We received a
complaint about you.
333
00:20:35,110 --> 00:20:38,197
Mrs. Cooper from apartment 2A
doesn't want you working in the building.
334
00:20:39,489 --> 00:20:40,324
Why not?
335
00:20:40,407 --> 00:20:42,201
Said it happened
by the owner of the building.
336
00:20:42,284 --> 00:20:44,912
- He owns the building.
- I'm not talking to you.
337
00:20:47,956 --> 00:20:49,625
I own the building, sir.
338
00:20:49,708 --> 00:20:52,169
The paperwork has been recorded
in the city center.
339
00:20:52,252 --> 00:20:55,214
But I have a copy with me,
just in case.
340
00:21:01,386 --> 00:21:02,554
This seems true.
341
00:21:09,478 --> 00:21:10,604
Yes, it seems so.
342
00:21:13,106 --> 00:21:15,025
Try to have more respect
with tenants.
343
00:21:16,485 --> 00:21:17,694
Yes sir.
344
00:21:18,820 --> 00:21:20,447
Sorry for the inconvenience.
345
00:21:30,249 --> 00:21:33,627
Can't stay
here after 6pm.
346
00:21:33,710 --> 00:21:36,672
A worker cannot stay here
after 6 p.m., Mrs. Cooper.
347
00:21:37,214 --> 00:21:38,590
But I'm a resident.
348
00:21:38,674 --> 00:21:39,675
I'm moving.
349
00:21:55,023 --> 00:21:55,858
CHANGES
350
00:21:55,941 --> 00:21:57,693
I hope your mother
like the new house.
351
00:21:57,776 --> 00:21:59,069
I know you'll like it.
352
00:21:59,152 --> 00:22:00,654
- Mrs. Garrett?
- Yes.
353
00:22:00,737 --> 00:22:03,782
Anita Jefferson. We talked about
rent one of your apartments.
354
00:22:03,866 --> 00:22:05,784
Yes of course. Pleasure.
355
00:22:08,620 --> 00:22:09,830
All rented.
356
00:22:10,914 --> 00:22:11,957
It's impressive.
357
00:22:15,544 --> 00:22:18,463
I have my eye on a place
two blocks east of here.
358
00:22:19,047 --> 00:22:20,132
Are you interested?
359
00:22:20,215 --> 00:22:21,216
Are you talking about a society?
360
00:22:22,134 --> 00:22:23,260
Yes, half and half.
361
00:22:24,178 --> 00:22:25,262
But there is one condition.
362
00:22:27,514 --> 00:22:28,515
Bernard...
363
00:22:29,141 --> 00:22:30,392
business with people
364
00:22:31,059 --> 00:22:33,103
who then move away
we closed the deal
365
00:22:33,187 --> 00:22:35,606
and wash your hands
'cause I'm a dirty Irishman.
366
00:22:37,191 --> 00:22:39,943
But they do business with me
because they make money that way.
367
00:22:41,278 --> 00:22:44,907
You have a talent for seeing
the hidden value in a building.
368
00:22:46,617 --> 00:22:48,535
Will work in
calls with me.
369
00:22:49,995 --> 00:22:51,079
With investors.
370
00:22:51,914 --> 00:22:55,751
But to sign the contract,
that will be up to me.
371
00:22:57,419 --> 00:22:58,420
And we will make money.
372
00:22:59,505 --> 00:23:00,506
A lot of money.
373
00:23:02,966 --> 00:23:03,967
Half and half?
374
00:23:06,678 --> 00:23:07,888
Half and half.
375
00:23:07,971 --> 00:23:11,308
FOR SALE
376
00:23:14,937 --> 00:23:15,938
It's here. Right here.
377
00:23:16,355 --> 00:23:17,356
Here.
378
00:23:19,691 --> 00:23:20,692
Sign here.
379
00:23:30,327 --> 00:23:31,578
Hello? Yes.
380
00:23:32,204 --> 00:23:33,205
Right.
381
00:23:35,082 --> 00:23:36,500
I called to talk about the house...
382
00:23:36,583 --> 00:23:37,793
FOR SALE
383
00:23:45,217 --> 00:23:48,053
FOR RENT
BARKER and ASSOCIATES
384
00:23:54,268 --> 00:23:55,811
PROPERTY FOR SALE
385
00:23:59,648 --> 00:24:01,900
CONTRACT, PROPERTY PURCHASE
BUYER: PATRICK BARKER
386
00:24:01,984 --> 00:24:03,360
Let's try the sofa there.
387
00:24:03,944 --> 00:24:06,321
Lampshade. Right here in the corner.
388
00:24:06,405 --> 00:24:08,490
It was perfect. Perfect.
389
00:24:08,991 --> 00:24:10,909
It turned out great.
390
00:24:11,451 --> 00:24:13,370
What did you think,
dear? It was good, right?
391
00:24:13,453 --> 00:24:15,956
I think there is some
problem with the car.
392
00:24:16,039 --> 00:24:17,207
Do you want to take a look?
393
00:24:19,001 --> 00:24:20,002
Of course.
394
00:24:21,753 --> 00:24:24,256
Let's set the table there,
drag the sofa,
395
00:24:24,339 --> 00:24:25,966
and place the lamp on the other side.
396
00:24:26,717 --> 00:24:29,636
Don't let him touch anything
when you come back, yes?
397
00:24:29,720 --> 00:24:30,971
- Yes, ma'am.
- Yes, ma'am.
398
00:24:33,682 --> 00:24:37,269
Barker and I have been thinking about
diversify into single-family homes.
399
00:24:38,395 --> 00:24:39,396
So...
400
00:24:40,314 --> 00:24:44,651
I wanted you to come in and tell me
What do you think this house needs?
401
00:24:52,492 --> 00:24:53,577
Bernard.
402
00:24:56,079 --> 00:24:57,706
This house is beautiful.
403
00:24:59,458 --> 00:25:00,459
Do you really think so?
404
00:25:00,959 --> 00:25:02,711
- Yes.
- Is there anything missing?
405
00:25:02,794 --> 00:25:03,962
Furniture.
406
00:25:05,130 --> 00:25:06,715
So, did I do a good job?
407
00:25:06,798 --> 00:25:08,634
It depends on the price, doesn't it?
408
00:25:10,344 --> 00:25:11,470
Not this time, darling.
409
00:25:14,348 --> 00:25:16,099
Come on. Handle. I already made a copy.
410
00:25:18,227 --> 00:25:20,020
Are you serious?
411
00:25:25,359 --> 00:25:27,152
You're sleeping too much.
412
00:25:27,736 --> 00:25:29,488
Time to get up, darling.
413
00:25:43,836 --> 00:25:45,879
Mrs Barker wants to buy
414
00:25:45,963 --> 00:25:49,383
your part in all
Barker/Garrett properties.
415
00:25:49,466 --> 00:25:51,134
I have no reason to sell.
416
00:25:51,218 --> 00:25:53,053
I will be happy
managing everything alone.
417
00:25:53,136 --> 00:25:54,513
This is unacceptable.
418
00:25:54,596 --> 00:25:55,973
I don't want to have business with...
419
00:25:57,724 --> 00:26:00,853
I prefer not to keep the agreement.
420
00:26:02,729 --> 00:26:03,981
What is the offer?
421
00:26:12,948 --> 00:26:14,533
This is an outrage.
422
00:26:14,616 --> 00:26:17,661
I own 50% of a
dozen properties.
423
00:26:17,744 --> 00:26:20,205
You want me to give up everything
for a pittance?
424
00:26:20,289 --> 00:26:22,666
I don't have to pay you anything.
425
00:26:23,333 --> 00:26:25,294
Your name is not
in any scripture.
426
00:26:25,377 --> 00:26:26,503
It couldn't be.
427
00:26:27,004 --> 00:26:28,130
We had a deal.
428
00:26:28,213 --> 00:26:30,841
And we know what they were
your husband's intentions.
429
00:26:35,220 --> 00:26:38,265
Increase my offer
to 25 percent.
430
00:26:38,348 --> 00:26:40,517
And if you want to refuse,
Mr. Garrett,
431
00:26:40,601 --> 00:26:42,227
you can leave with nothing
432
00:26:42,769 --> 00:26:44,688
unless you want
take this to court.
433
00:26:45,480 --> 00:26:46,773
With a different lawyer.
434
00:26:53,280 --> 00:26:55,657
There must be some way to prove it
Mr. Barker's intentions.
435
00:26:55,741 --> 00:26:57,868
If I found a witness,
yes.
436
00:26:57,951 --> 00:26:58,952
But...
437
00:26:59,328 --> 00:27:00,329
it can't be me.
438
00:27:00,913 --> 00:27:02,331
I would lose my license.
439
00:27:03,207 --> 00:27:05,334
Mr. Reed from Mid City Bank...
440
00:27:05,417 --> 00:27:07,544
He works for her now,
Bernard.
441
00:27:08,921 --> 00:27:10,589
He will not intercede for you.
442
00:27:15,427 --> 00:27:16,887
I need to see Mr. Reed.
443
00:27:16,970 --> 00:27:18,388
I'm sorry, Mr. Garrett.
444
00:27:18,472 --> 00:27:20,849
Mr. Reed doesn't see anyone
without an appointment.
445
00:27:20,933 --> 00:27:21,934
This is urgent.
446
00:27:24,353 --> 00:27:25,395
Wait a moment.
447
00:28:18,866 --> 00:28:20,868
BANK OF AMERICA -
EXECUTIVE OFFICES
448
00:28:29,084 --> 00:28:32,296
I don't know what you know about
commercial property market.
449
00:28:32,379 --> 00:28:35,174
Eunice said there are two or
three buildings that generate income?
450
00:28:36,091 --> 00:28:37,301
Seventeen.
451
00:28:37,384 --> 00:28:39,636
But after
get what you wanted,
452
00:28:39,720 --> 00:28:42,222
the more you can get
of each of them?
453
00:28:43,807 --> 00:28:44,850
Seventeen?
454
00:28:45,726 --> 00:28:47,144
Eighteen, counting the nightclub.
455
00:28:47,936 --> 00:28:49,605
My mother was
real estate broker.
456
00:28:50,898 --> 00:28:51,982
Do you know this building?
457
00:28:54,943 --> 00:28:57,821
Of course. There are many
bank headquarters there.
458
00:28:57,905 --> 00:29:00,824
It is the tallest commercial building
in downtown Los Angeles.
459
00:29:00,908 --> 00:29:01,950
I want to buy it.
460
00:29:04,119 --> 00:29:05,162
May we buy it.
461
00:29:08,999 --> 00:29:13,295
It's a pretty big building to buy.
on the most expensive land in the city.
462
00:29:13,378 --> 00:29:14,379
I know.
463
00:29:16,215 --> 00:29:18,217
We would need a
big loan.
464
00:29:18,300 --> 00:29:21,053
You don't even own it
of the 18 buildings, right?
465
00:29:23,055 --> 00:29:27,184
I know a banker in São
Francisco with whom I have worked for years.
466
00:29:28,894 --> 00:29:29,895
A drink?
467
00:29:29,978 --> 00:29:31,313
No thanks. I don't drink.
468
00:29:37,194 --> 00:29:42,741
There is not a single building with an owner
black man in downtown Los Angeles.
469
00:29:42,824 --> 00:29:44,326
And there is a reason for that.
470
00:29:44,409 --> 00:29:46,703
We will have to pay
more to achieve.
471
00:29:48,247 --> 00:29:49,623
As if I didn't know that.
472
00:29:51,166 --> 00:29:52,167
Now...
473
00:29:53,669 --> 00:29:54,711
convince me.
474
00:29:57,172 --> 00:29:58,173
Well...
475
00:30:00,008 --> 00:30:02,928
the best place to meet
the current real estate market
476
00:30:03,011 --> 00:30:04,429
It's inside a bank.
477
00:30:04,513 --> 00:30:07,224
If we can get that building,
we will be within 12 of them.
478
00:30:08,100 --> 00:30:11,854
And they will think twice before
to refuse us a loan
479
00:30:12,437 --> 00:30:13,856
if we are your landlords.
480
00:30:15,983 --> 00:30:18,527
This is very audacious,
Mr. Garrett.
481
00:30:19,194 --> 00:30:21,154
I just think
in logical terms.
482
00:30:22,489 --> 00:30:23,490
What a shame.
483
00:30:23,907 --> 00:30:24,950
Forgiveness?
484
00:30:25,033 --> 00:30:28,120
And the thrill of taking it from the guys?
485
00:30:28,203 --> 00:30:30,455
And in your own castle?
486
00:30:31,790 --> 00:30:32,791
No?
487
00:30:34,918 --> 00:30:35,919
Leave it there.
488
00:30:36,962 --> 00:30:41,592
But in purely logical terms,
Something about your plan worries me.
489
00:30:41,675 --> 00:30:43,010
What is it?
490
00:30:43,552 --> 00:30:47,347
The information we will have
Hanging with these bankers
491
00:30:47,431 --> 00:30:51,268
it will be about real estate
in white neighborhoods.
492
00:30:55,314 --> 00:31:01,195
Do you intend to buy properties in neighborhoods
white people only, Mr. Garrett?
493
00:31:01,987 --> 00:31:03,655
That's exactly what we'll do.
494
00:31:08,827 --> 00:31:12,956
And how do you want
be able to do this?
495
00:31:13,790 --> 00:31:15,959
How do we buy the
Bankers Building.
496
00:31:22,382 --> 00:31:23,800
What do you want me to do?
497
00:31:23,884 --> 00:31:26,512
May it be us to
the rest of the world.
498
00:31:27,721 --> 00:31:31,225
I don't understand anything about banking.
I don't know how to buy a bank.
499
00:31:31,308 --> 00:31:33,060
We are not going to buy a bank.
500
00:31:33,143 --> 00:31:35,437
Let's buy a building
where the banks are.
501
00:31:35,938 --> 00:31:37,022
They are tenants.
502
00:31:38,857 --> 00:31:39,691
Right.
503
00:31:39,775 --> 00:31:41,610
You will be the face
of our society.
504
00:31:42,736 --> 00:31:45,030
They think I am
Qualified for this?
505
00:31:45,113 --> 00:31:46,990
We will teach you
everything you need to know.
506
00:31:50,744 --> 00:31:52,955
That guy? Serious?
507
00:31:53,455 --> 00:31:55,082
He just needs to digest it all.
508
00:31:55,165 --> 00:31:56,166
Why?
509
00:31:56,250 --> 00:31:58,627
It can paralyze
When do you enter the room?
510
00:31:58,710 --> 00:31:59,753
He won't stop.
511
00:31:59,837 --> 00:32:01,505
You can believe it.
He's the right guy.
512
00:32:01,588 --> 00:32:05,884
I bet a hundred dollars against one
How can he not.
513
00:32:06,301 --> 00:32:07,928
Don't know any other white people
514
00:32:08,011 --> 00:32:09,930
I would like to win
to represent us?
515
00:32:10,013 --> 00:32:11,598
No one I trust. And you?
516
00:32:11,974 --> 00:32:13,392
I don't trust white people.
517
00:32:14,142 --> 00:32:15,853
How can you live like this?
518
00:32:15,936 --> 00:32:17,896
In fact,
I don't trust black people either.
519
00:32:19,106 --> 00:32:20,440
What are you saying?
520
00:32:20,524 --> 00:32:23,402
I do a lot
business with white people.
521
00:32:23,485 --> 00:32:24,486
I'm friendly.
522
00:32:24,570 --> 00:32:26,321
I'm friends with some.
523
00:32:26,405 --> 00:32:29,241
I'm saying that even so,
524
00:32:29,324 --> 00:32:33,287
there's always something extra
happening in the relationship.
525
00:32:33,370 --> 00:32:34,830
It's just the way things are.
526
00:32:34,913 --> 00:32:36,623
When you accept this,
527
00:32:36,707 --> 00:32:40,002
Don't be taken by surprise
when things show their face.
528
00:32:40,669 --> 00:32:42,296
I can't live like this.
529
00:32:42,796 --> 00:32:44,339
That's what I like about you.
530
00:32:45,048 --> 00:32:46,592
You are a good person.
531
00:32:46,675 --> 00:32:48,802
It hasn't been yet
corrupted by the world.
532
00:32:48,886 --> 00:32:50,053
It's like a child.
533
00:32:50,971 --> 00:32:53,724
But that will change
when you get rich.
534
00:32:54,725 --> 00:32:55,934
I'll take that risk.
535
00:32:56,643 --> 00:32:58,103
You will have no choice.
536
00:33:08,238 --> 00:33:09,323
Thanks.
537
00:33:20,083 --> 00:33:21,083
Hi.
538
00:33:22,544 --> 00:33:23,587
Hi.
539
00:33:24,087 --> 00:33:26,215
It's Matt Steiner, isn't it?
540
00:33:29,301 --> 00:33:30,385
From the Hollywood school?
541
00:33:30,469 --> 00:33:31,637
- Yes.
- That's right.
542
00:33:31,720 --> 00:33:35,557
He was a few years ahead of me,
but everyone knew who it was.
543
00:33:39,144 --> 00:33:40,854
Why are you with
that sad face?
544
00:33:42,606 --> 00:33:43,607
I was just thinking.
545
00:33:44,149 --> 00:33:45,150
In what?
546
00:33:45,901 --> 00:33:46,901
In a new job.
547
00:33:47,319 --> 00:33:48,320
Doing what?
548
00:33:49,238 --> 00:33:50,322
Real estate sector.
549
00:33:50,697 --> 00:33:52,533
A broker?
550
00:33:52,991 --> 00:33:55,160
More like an investor.
551
00:33:56,036 --> 00:33:57,871
I would work with investors.
552
00:33:57,955 --> 00:33:58,789
Side by side.
553
00:33:58,872 --> 00:34:00,123
Will they hire you?
554
00:34:01,750 --> 00:34:02,793
It's a type of society.
555
00:34:03,961 --> 00:34:05,295
A society.
556
00:34:07,673 --> 00:34:10,300
- Susie.
- Yes.
557
00:34:10,384 --> 00:34:12,010
- I liked seeing you.
- I liked it too.
558
00:34:23,021 --> 00:34:24,022
I'm in.
559
00:34:25,065 --> 00:34:26,065
He is sure?
560
00:34:26,149 --> 00:34:28,569
Just tell me what I need to know.
I won't disappoint you.
561
00:34:31,154 --> 00:34:34,116
Be on the golf course
Rancho Park tomorrow at 6am.
562
00:34:34,574 --> 00:34:35,617
Don't be late.
563
00:34:35,701 --> 00:34:36,702
Thanks.
564
00:34:38,203 --> 00:34:39,246
Thanks.
565
00:34:53,969 --> 00:34:55,094
Is he really coming?
566
00:34:57,264 --> 00:34:58,515
Good morning, guys.
567
00:34:58,599 --> 00:34:59,808
Didn't I say it was at 6am?
568
00:34:59,892 --> 00:35:02,227
- He said. Did you arrive at 6am?
- Yes.
569
00:35:02,311 --> 00:35:03,312
Great.
570
00:35:03,896 --> 00:35:04,938
Have you ever played golf?
571
00:35:05,397 --> 00:35:06,607
No.
572
00:35:06,690 --> 00:35:08,817
Before learning
talking about real estate,
573
00:35:08,901 --> 00:35:10,903
need to know how to speak
with rich white people
574
00:35:10,986 --> 00:35:12,654
to look like you are one of them.
575
00:35:12,738 --> 00:35:16,200
And you have a month to learn
playing golf.
576
00:35:16,283 --> 00:35:18,619
And learn how
had played all his life.
577
00:35:18,702 --> 00:35:19,786
Do you think you can do it?
578
00:35:20,579 --> 00:35:22,706
I played a lot of sports
as a boy. So...
579
00:35:22,789 --> 00:35:24,917
So... yes?
580
00:35:25,000 --> 00:35:26,627
- Yes.
- Very good.
581
00:35:27,044 --> 00:35:28,754
Go with it and wear it.
582
00:35:28,837 --> 00:35:31,006
Show the basics
and then it's up to me.
583
00:35:31,089 --> 00:35:32,090
Follow me.
584
00:35:38,138 --> 00:35:39,515
One hundred dollars to one?
585
00:35:39,598 --> 00:35:43,602
Do you think it's the right business because
Am I a good golf teacher?
586
00:35:43,685 --> 00:35:45,938
You can pretend you know math.
Not with golf.
587
00:35:46,021 --> 00:35:47,272
He's right, Joe.
588
00:35:48,440 --> 00:35:51,652
Bernard, this is Don
Silverthorne. My banker.
589
00:35:51,735 --> 00:35:53,570
Came from San Francisco
590
00:35:53,654 --> 00:35:54,988
just to see how crazy we are.
591
00:35:55,072 --> 00:35:56,073
Great pleasure.
592
00:35:59,159 --> 00:36:00,244
Shit!
593
00:36:00,327 --> 00:36:02,079
Looks like I got my answer.
594
00:36:02,162 --> 00:36:03,956
Let's try again.
595
00:36:04,039 --> 00:36:05,624
What do I need to do differently?
596
00:36:05,707 --> 00:36:06,708
The swing, lower.
597
00:36:07,292 --> 00:36:09,127
- Great, thank you.
- With your head still.
598
00:36:09,586 --> 00:36:10,879
The head still...
599
00:36:14,007 --> 00:36:15,133
No, you moved.
600
00:36:15,801 --> 00:36:18,679
If this trick works and
you want me to finance,
601
00:36:18,762 --> 00:36:21,431
I hope they don't offer more
two million for the building.
602
00:36:22,015 --> 00:36:23,559
More than that,
I don't want the risk.
603
00:36:24,601 --> 00:36:26,770
I get the building
for less than two million.
604
00:36:26,854 --> 00:36:28,730
It's not you that worries me,
Mr. Garrett.
605
00:36:29,857 --> 00:36:30,858
I got it right.
606
00:36:32,442 --> 00:36:33,443
It's him.
607
00:36:34,069 --> 00:36:36,196
You don't want to give me
that dollar now?
608
00:36:38,657 --> 00:36:40,284
The old way of
evaluate a building
609
00:36:40,367 --> 00:36:43,704
is to see how many years of rent
you pay the price of the building.
610
00:36:44,246 --> 00:36:46,206
If the building costs $300,000
611
00:36:46,290 --> 00:36:50,169
and have $30,000 in net income
per year, is a multiple of ten.
612
00:36:50,252 --> 00:36:53,839
Today, most people evaluate a building
using capitalization rate.
613
00:36:54,256 --> 00:36:55,883
But they have a mathematical relationship.
614
00:36:56,717 --> 00:36:59,595
The capitalization rate
is the multiplicative inverse
615
00:36:59,678 --> 00:37:01,847
multiple of ten
that we talked about just now.
616
00:37:03,015 --> 00:37:06,602
300,000 = 30,000 x M.
617
00:37:06,685 --> 00:37:10,939
M = ten years.
618
00:37:11,023 --> 00:37:15,194
One tenth x 300,000 = 30,000
619
00:37:17,237 --> 00:37:20,365
One tenth is 10%.
620
00:37:21,617 --> 00:37:22,618
Capitalization rate.
621
00:37:26,580 --> 00:37:28,624
We should start
reviewing math.
622
00:37:29,833 --> 00:37:30,918
It would be amazing.
623
00:37:41,845 --> 00:37:43,764
- Right?
- You have to take four.
624
00:37:44,723 --> 00:37:45,724
What four?
625
00:37:55,734 --> 00:37:59,404
Even on a putt,
keep your damn head down.
626
00:37:59,488 --> 00:38:00,989
Keep your damn head down.
627
00:38:07,287 --> 00:38:10,082
There's a subtraction error there
and the last part is wrong.
628
00:38:10,165 --> 00:38:13,418
But other than that,
is starting to understand.
629
00:38:15,879 --> 00:38:16,880
Sorry.
630
00:38:16,964 --> 00:38:17,965
Sorry.
631
00:38:18,048 --> 00:38:19,049
Sorry!
632
00:38:25,764 --> 00:38:26,765
Right.
633
00:38:26,849 --> 00:38:29,142
Now multiply by 1.25.
634
00:38:29,893 --> 00:38:31,478
1.25...
635
00:38:32,938 --> 00:38:35,607
No. Stop!
636
00:38:39,820 --> 00:38:41,029
No.
637
00:38:41,655 --> 00:38:42,781
Stop laughing.
638
00:38:44,825 --> 00:38:46,285
But what the hell?
639
00:38:47,911 --> 00:38:49,037
Hit her.
640
00:38:49,121 --> 00:38:50,205
I'm knocking!
641
00:38:56,170 --> 00:38:57,713
Careful. Don't get hurt.
642
00:39:00,007 --> 00:39:01,175
To. Stop there.
643
00:39:04,011 --> 00:39:07,681
We are 50 yards from the green,
so let's use a wedge.
644
00:39:14,396 --> 00:39:17,608
And swing with that force.
645
00:39:22,279 --> 00:39:25,115
Remember it's a wedge,
Don't be afraid of the swing.
646
00:39:25,199 --> 00:39:26,366
What else are you going to do?
647
00:39:26,450 --> 00:39:27,910
Keep your damn head down.
648
00:39:27,993 --> 00:39:29,203
Jesus. Let's go.
649
00:39:40,797 --> 00:39:41,798
Okay...
650
00:39:46,136 --> 00:39:48,555
My goodness. My...
651
00:39:48,639 --> 00:39:49,640
Wow!
652
00:39:50,474 --> 00:39:52,226
I left my head down and...
653
00:40:00,484 --> 00:40:03,862
That's $432,000.
654
00:40:08,408 --> 00:40:10,118
That's right.
655
00:40:10,202 --> 00:40:11,870
You got it right, man. You understand.
656
00:41:13,515 --> 00:41:14,766
What do you want, Bernard?
657
00:41:14,850 --> 00:41:15,976
This moment here is mine.
658
00:41:17,394 --> 00:41:18,520
I want to buy a building.
659
00:41:20,397 --> 00:41:24,902
Has $100,000 in gross income
annual, 8% vacancy rate,
660
00:41:25,485 --> 00:41:30,490
$12,000 annual operating costs
and I want 10% capitalization rate.
661
00:41:32,576 --> 00:41:34,786
What is the maximum value
What can I offer?
662
00:41:41,710 --> 00:41:42,753
Where did she go?
663
00:41:44,379 --> 00:41:47,966
Right in the middle, close...
664
00:41:49,218 --> 00:41:52,387
I don't even know. I never launched
a ball that far.
665
00:41:52,471 --> 00:41:53,639
There are 800,000.
666
00:41:56,725 --> 00:41:58,227
- He got it right.
- You got it right.
667
00:41:58,310 --> 00:41:59,561
- Did he get it right?
- Yes.
668
00:42:00,771 --> 00:42:02,564
We created a monster.
669
00:42:02,648 --> 00:42:03,815
You explained algebra well.
670
00:42:03,899 --> 00:42:06,151
A month ago I didn't even know
What was algebra, Matt.
671
00:42:06,235 --> 00:42:07,945
- And truth.
- You're good.
672
00:42:12,699 --> 00:42:13,742
He's ready.
673
00:42:14,493 --> 00:42:16,620
Yeah, he's ready.
674
00:42:17,955 --> 00:42:21,250
The Bankers Building belongs
to Charles Renault.
675
00:42:22,209 --> 00:42:23,919
There are 14 floors.
676
00:42:24,002 --> 00:42:27,464
There are 11,000 m2 of
commercial space.
677
00:42:28,549 --> 00:42:30,342
It was built in 1929.
678
00:42:30,425 --> 00:42:33,720
It remains the commercial building
tallest in the city center
679
00:42:33,804 --> 00:42:37,140
and it is considered what is
best of downtown architecture.
680
00:42:41,353 --> 00:42:42,729
Is this his office?
681
00:42:42,813 --> 00:42:44,189
It's his office.
682
00:42:44,982 --> 00:42:46,900
A renovated ballroom.
683
00:42:47,693 --> 00:42:49,945
My goodness!
How much money does this guy have?
684
00:42:50,028 --> 00:42:51,113
Very much.
685
00:42:51,613 --> 00:42:54,950
He won't take you seriously
without proper presentation.
686
00:42:55,033 --> 00:43:00,455
But I arranged for it to bump
in it at country club Hancock Park.
687
00:43:01,415 --> 00:43:03,750
It's the biggest club
exclusive to the city.
688
00:43:03,834 --> 00:43:05,043
I can't just go in.
689
00:43:05,127 --> 00:43:06,211
Don't worry.
690
00:43:22,477 --> 00:43:24,271
Welcome, Mr. Steiner.
691
00:43:24,354 --> 00:43:25,355
Thanks.
692
00:43:25,439 --> 00:43:28,317
They have arranged for you to use
our club as a guest,
693
00:43:28,400 --> 00:43:31,236
under the terms of the exchange
with our headquarters in Pennsylvania.
694
00:43:31,862 --> 00:43:34,198
Will your driver wait here?
695
00:43:36,408 --> 00:43:37,951
I'll stay outside the gate.
696
00:43:38,577 --> 00:43:40,537
If something goes wrong, look for me.
697
00:43:41,371 --> 00:43:43,040
It won't happen,
Mr. Morris.
698
00:43:44,791 --> 00:43:45,918
I promise.
699
00:43:46,001 --> 00:43:47,002
Thank you, Anthony.
700
00:43:50,797 --> 00:43:52,716
- I'm worried.
- With what?
701
00:43:52,799 --> 00:43:54,843
I don't do well under pressure.
702
00:43:55,636 --> 00:43:57,221
What nothing. You have talent.
703
00:43:57,304 --> 00:43:59,473
- Talent for what?
- For the theater.
704
00:44:00,432 --> 00:44:01,517
How do you know that?
705
00:44:01,600 --> 00:44:04,686
Do you think I got this far without
Know how to identify who has talent?
706
00:44:07,606 --> 00:44:08,607
Go all out.
707
00:44:09,858 --> 00:44:10,901
Yes sir.
708
00:44:20,244 --> 00:44:21,286
Mr. Steiner?
709
00:44:21,995 --> 00:44:22,996
Yes?
710
00:44:23,080 --> 00:44:25,499
Jackie said he is
playing alone or with a partner.
711
00:44:25,582 --> 00:44:27,042
I always want a good game.
712
00:44:27,793 --> 00:44:29,670
If you find someone who can give me one.
713
00:44:29,753 --> 00:44:31,255
Charles Renault, nice to meet you.
714
00:44:33,215 --> 00:44:34,675
Are you enjoying dressing up?
715
00:44:34,758 --> 00:44:36,844
You should try it.
It's exciting.
716
00:44:37,511 --> 00:44:38,846
No thanks.
717
00:44:38,929 --> 00:44:42,182
I think it's cool to have a white guy
doing business for you,
718
00:44:42,266 --> 00:44:43,934
but don't put
a driver's cap
719
00:44:44,017 --> 00:44:46,019
to keep an eye
while he does this?
720
00:44:46,562 --> 00:44:49,356
It was the only work that
I managed to avoid it my whole life.
721
00:44:49,898 --> 00:44:51,567
I would like to continue like this.
722
00:45:05,539 --> 00:45:07,416
Jimmy,
I think we have a game here.
723
00:45:09,168 --> 00:45:10,210
Right.
724
00:45:10,961 --> 00:45:12,504
Are we really going to do this?
725
00:45:12,588 --> 00:45:16,133
If "we" means "you", yes.
726
00:45:38,155 --> 00:45:39,198
Remember,
727
00:45:40,157 --> 00:45:41,283
eyes on the ball.
728
00:45:41,366 --> 00:45:42,618
And keep your head down.
729
00:45:46,914 --> 00:45:48,040
Make me proud.
730
00:45:57,299 --> 00:46:00,052
He will say he rents it for 20
cents per square meter.
731
00:46:00,135 --> 00:46:01,136
But that's bullshit.
732
00:46:01,220 --> 00:46:02,221
It's more like 15.
733
00:46:04,598 --> 00:46:08,894
This whole thing is for you to agree
with a higher base value.
734
00:46:08,977 --> 00:46:10,521
Which I won't do.
735
00:46:10,604 --> 00:46:12,940
He will test you. Probe you.
736
00:46:21,573 --> 00:46:25,661
If he has a slight doubt
about your mastery in numbers,
737
00:46:25,744 --> 00:46:27,579
he will see who you are.
738
00:46:27,663 --> 00:46:28,789
It has to impress him.
739
00:46:29,831 --> 00:46:31,166
Like he did on the first tee.
740
00:46:32,209 --> 00:46:33,210
What do I do then?
741
00:46:33,293 --> 00:46:36,755
In a negotiation, what is the same
from a 300 yard tee?
742
00:46:39,007 --> 00:46:40,217
A tasting lunch.
743
00:46:48,642 --> 00:46:50,394
Coming from France
once a week.
744
00:46:51,478 --> 00:46:52,479
Enjoy.
745
00:46:58,110 --> 00:47:00,445
Okay, we rent for 20 cents
per square foot.
746
00:47:00,529 --> 00:47:03,740
That's 272,880 gross per year.
747
00:47:03,824 --> 00:47:05,409
Expenses of eighty thousand.
748
00:47:05,492 --> 00:47:07,369
That's 192,800 in profits.
749
00:47:08,036 --> 00:47:12,165
10% capitalization rate
will give us 1,928,880.
750
00:47:12,666 --> 00:47:17,087
Plus 25% premium,
to 2,411,100.
751
00:47:18,672 --> 00:47:21,008
If that's what you're offering,
I'm interested.
752
00:47:24,261 --> 00:47:25,470
But see my problem.
753
00:47:25,554 --> 00:47:28,098
I know there are rents at 15
cents per square meter.
754
00:47:28,182 --> 00:47:29,641
Long term rentals.
755
00:47:29,725 --> 00:47:31,602
Even with some
idiots at 20 cents...
756
00:47:31,685 --> 00:47:32,769
More than a few.
757
00:47:34,062 --> 00:47:35,689
Right,
with an average of 18 cents,
758
00:47:35,772 --> 00:47:37,524
that would be a
net income from...
759
00:47:37,608 --> 00:47:41,153
245,592. But this
It's not important.
760
00:47:41,236 --> 00:47:44,114
If you want to show me the rentals
and taste, okay.
761
00:47:44,198 --> 00:47:46,283
If not, consider
15 cents per square foot.
762
00:47:46,366 --> 00:47:48,160
- Fifteen is low.
- Fifteen is generous.
763
00:47:48,243 --> 00:47:51,038
Even more so if you include the voids,
which are at least 9%.
764
00:47:51,121 --> 00:47:52,915
- Less than that.
- I counted 12.
765
00:47:52,998 --> 00:47:54,708
How do you know this?
766
00:47:55,501 --> 00:47:56,793
Charles, it's November.
767
00:47:57,669 --> 00:47:59,254
It gets dark at 5pm.
768
00:48:02,049 --> 00:48:04,051
If you want to lie about
the vacancy rate,
769
00:48:04,134 --> 00:48:06,970
need to have all the spaces
not rented lit at 4:30 p.m.
770
00:48:07,513 --> 00:48:09,890
I don't blame him for not doing that.
It's a lot of work.
771
00:48:09,973 --> 00:48:12,309
But the voids would mean
13.5 per square foot.
772
00:48:12,392 --> 00:48:13,477
We'll find some.
773
00:48:13,560 --> 00:48:15,604
Let's say 16 cents. Is it fair?
774
00:48:16,271 --> 00:48:21,610
It's a valuation of $1,383,000
with a 10% rate.
775
00:48:22,611 --> 00:48:25,364
But 10% capitalization rate
It's not enough for this market.
776
00:48:25,447 --> 00:48:28,116
My partners and I have several
businesses with 12% returns,
777
00:48:28,867 --> 00:48:30,244
what would it be...
778
00:48:30,327 --> 00:48:36,083
$1,152,533 of
underlying appreciation.
779
00:48:37,835 --> 00:48:42,464
1,152,533.
780
00:48:44,383 --> 00:48:46,009
How do you do it mentally?
781
00:48:46,677 --> 00:48:48,762
I can't
do these calculations.
782
00:48:49,972 --> 00:48:52,391
Maybe I could fake it.
783
00:48:53,141 --> 00:48:54,142
As?
784
00:48:56,311 --> 00:48:57,646
Practicing.
785
00:48:57,729 --> 00:48:58,814
I'll just memorize it.
786
00:49:00,858 --> 00:49:01,900
All?
787
00:49:03,068 --> 00:49:04,528
Yes, I have a good memory.
788
00:49:05,487 --> 00:49:06,572
That good?
789
00:49:06,655 --> 00:49:08,365
I have a week to learn,
right?
790
00:49:09,783 --> 00:49:11,243
It will be one swindler with another.
791
00:49:11,326 --> 00:49:12,578
I loved.
792
00:49:13,787 --> 00:49:15,038
But if it works,
793
00:49:15,706 --> 00:49:17,666
Renault will question
the capitalization rate.
794
00:49:17,749 --> 00:49:19,793
You need to be prepared.
795
00:49:20,752 --> 00:49:23,046
This is the city center.
The risk is very low.
796
00:49:23,672 --> 00:49:25,257
It does not allow a 12% return.
797
00:49:25,799 --> 00:49:27,509
I'm firm at 10%.
798
00:49:28,010 --> 00:49:31,513
He will try to trap you in
10% on the underlying value,
799
00:49:31,597 --> 00:49:33,098
which we will not accept.
800
00:49:33,599 --> 00:49:36,018
Not with a 25% premium for him.
801
00:49:36,101 --> 00:49:38,478
But we will need
off in the conversation.
802
00:49:38,562 --> 00:49:42,024
I want you to memorize it too
the 10.5% rate scenario.
803
00:49:42,107 --> 00:49:48,447
But 25% premium with 10.5%
rate is very high, right?
804
00:49:52,201 --> 00:49:57,331
The 10.5% rate means
$1,317,000 underlying.
805
00:49:57,414 --> 00:50:02,669
With 25% premium,
is $1,646,250.
806
00:50:03,462 --> 00:50:04,546
It's very loud.
807
00:50:04,630 --> 00:50:06,715
Yeah, it seems too high to me.
808
00:50:06,798 --> 00:50:09,593
It's really too high.
809
00:50:11,887 --> 00:50:13,722
Maybe you can give him an option.
810
00:50:15,891 --> 00:50:17,267
Mr. Renault, I like you.
811
00:50:17,768 --> 00:50:20,521
It was the first game of golf
decent since I got here.
812
00:50:20,604 --> 00:50:24,441
But if you want a 10% rate on
building in a flourishing market,
813
00:50:24,525 --> 00:50:26,276
where can we have
12% elsewhere,
814
00:50:26,818 --> 00:50:29,821
we won't give you
25% immediate profit on markup.
815
00:50:31,073 --> 00:50:32,074
I have a suggestion.
816
00:50:32,950 --> 00:50:34,201
I will give you two options.
817
00:50:35,118 --> 00:50:40,415
We earn 11% return on capital
and 25% profit goes to you in markup,
818
00:50:40,499 --> 00:50:46,755
or 10.5% for us and you
18% instead of 25% markup.
819
00:50:47,214 --> 00:50:49,341
You can choose. But...
820
00:50:50,259 --> 00:50:51,552
he can't help you.
821
00:50:56,515 --> 00:50:58,475
You are not what I thought,
Matt Steiner.
822
00:51:01,645 --> 00:51:02,729
I'll take the second.
823
00:51:03,397 --> 00:51:04,398
He is well.
824
00:51:05,274 --> 00:51:06,316
How did I do?
825
00:51:07,943 --> 00:51:09,611
Lost about 17,000.
826
00:51:11,196 --> 00:51:12,447
Well.
827
00:51:12,531 --> 00:51:16,493
- What is the number?
- It's $1,554,060.
828
00:51:16,577 --> 00:51:21,540
But we can round to 1,560,000
If you leave this desk to me.
829
00:51:26,003 --> 00:51:27,337
I can't believe it worked.
830
00:51:28,005 --> 00:51:28,881
I believe.
831
00:51:28,964 --> 00:51:30,716
Tomorrow we meet the tenants,
832
00:51:30,799 --> 00:51:33,719
we introduce ourselves
as Matt's partners,
833
00:51:33,802 --> 00:51:37,055
and we see their jaws drop.
834
00:51:41,059 --> 00:51:44,271
I should call a photographer
to record the moment.
835
00:51:44,354 --> 00:51:45,856
- Joe?
- What?
836
00:51:46,440 --> 00:51:47,733
Is it too much?
837
00:51:47,816 --> 00:51:49,693
Yes. Cheers.
838
00:51:51,862 --> 00:51:53,864
CHARLES RENAULT
SECOND FLOOR
839
00:52:17,596 --> 00:52:19,056
Hello.
840
00:52:27,397 --> 00:52:29,816
BANKERS BUILDING
841
00:52:29,900 --> 00:52:31,902
FOR SALE BY OWNER
842
00:52:43,580 --> 00:52:45,249
PROPERTY FOR SALE
843
00:52:49,753 --> 00:52:52,506
FOR RENT
844
00:52:59,096 --> 00:53:00,764
BLACK WHITE
845
00:53:05,269 --> 00:53:06,937
BUILDING No. 14.
846
00:53:07,020 --> 00:53:08,730
BUILDING No. 21
847
00:53:08,814 --> 00:53:10,524
BUILDING No. 28
848
00:53:18,156 --> 00:53:19,157
Smile.
849
00:53:32,921 --> 00:53:34,673
BANKERS BUILDING
850
00:53:40,262 --> 00:53:42,431
OTHERS - MIXED - BLACK
851
00:54:16,215 --> 00:54:19,092
WELCOME TO WILLIS TEXAS
POPULATION 9,320
852
00:54:46,203 --> 00:54:47,871
Hi, sir.
853
00:54:47,955 --> 00:54:50,082
All good?
854
00:54:50,165 --> 00:54:52,292
And who is this here?
Who is this here?
855
00:54:52,376 --> 00:54:53,418
Hi, grandpa.
856
00:54:56,588 --> 00:54:57,589
Hi, dad.
857
00:55:04,179 --> 00:55:06,265
- Eat a sweet potato.
- No thanks.
858
00:55:06,348 --> 00:55:08,684
What boy doesn't like
of sweet potato puree?
859
00:55:08,767 --> 00:55:10,727
Prove it, darling. They're delicious.
860
00:55:10,811 --> 00:55:12,187
Dad saw the vice president.
861
00:55:12,855 --> 00:55:14,189
Was it really?
862
00:55:14,273 --> 00:55:16,692
It was,
yes. Bernard is being modest.
863
00:55:18,068 --> 00:55:19,194
LBJ?
864
00:55:19,611 --> 00:55:22,155
Yes. He went to
Bankers Building.
865
00:55:23,365 --> 00:55:24,449
That's good, son.
866
00:55:29,997 --> 00:55:31,540
Soft. Very smooth.
867
00:55:32,207 --> 00:55:33,458
I thought you didn't smoke.
868
00:55:33,542 --> 00:55:34,543
I don't smoke.
869
00:55:35,043 --> 00:55:36,545
But I know you like them,
so...
870
00:55:37,045 --> 00:55:38,964
They are much better
than the ones I smoke.
871
00:55:42,176 --> 00:55:44,761
You're doing so well,
there in Los Angeles.
872
00:55:45,762 --> 00:55:46,889
I think I was right.
873
00:55:47,556 --> 00:55:48,557
About what?
874
00:55:48,974 --> 00:55:50,934
About making money
like white people.
875
00:55:51,393 --> 00:55:53,312
Found a place
where you can do this.
876
00:55:54,313 --> 00:55:57,316
But... here,
no chance of doing that.
877
00:55:57,816 --> 00:55:59,193
It could be even worse.
878
00:55:59,276 --> 00:56:02,279
It's perfect,
in California, but...
879
00:56:03,572 --> 00:56:04,573
it's different.
880
00:56:05,490 --> 00:56:09,286
I don't... I don't think so
which is California.
881
00:56:12,164 --> 00:56:13,415
You make me proud, son.
882
00:56:28,764 --> 00:56:29,848
Where are you going?
883
00:56:30,390 --> 00:56:31,683
Take a walk around the city.
884
00:56:34,436 --> 00:56:35,521
Dressed like that?
885
00:56:36,647 --> 00:56:38,690
I'm going to the other side of town.
886
00:56:40,692 --> 00:56:42,194
Remember to wear a tie.
887
00:56:43,445 --> 00:56:44,446
I really intended to.
888
00:56:48,075 --> 00:56:49,243
Take Junior with you.
889
00:56:51,578 --> 00:56:53,789
He needs to see
close to where he came from.
890
00:57:40,878 --> 00:57:43,005
BLACKS ONLY - WHITES ONLY
891
00:57:44,214 --> 00:57:45,841
Why the water fountains
Are they separate?
892
00:57:49,011 --> 00:57:50,637
It's different here, son.
893
00:57:51,597 --> 00:57:52,598
AND.
894
00:57:53,307 --> 00:57:54,683
How annoying that you see this.
895
00:57:55,893 --> 00:57:56,894
All good.
896
00:57:57,811 --> 00:57:59,271
How much to grease?
897
00:57:59,354 --> 00:58:00,856
Only for white people, sir.
898
00:58:11,033 --> 00:58:13,160
MAINLAND BANK
899
00:58:14,912 --> 00:58:16,330
Do you think it's a mistake?
900
00:58:17,664 --> 00:58:19,374
I think the world is changing.
901
00:58:21,251 --> 00:58:23,629
Maybe it hasn't changed
enough in Texas.
902
00:58:27,174 --> 00:58:28,675
I feel like I should do this.
903
00:58:31,220 --> 00:58:32,346
I know.
904
00:58:33,347 --> 00:58:35,098
And that's why I support you.
905
00:58:37,851 --> 00:58:39,645
But what do we understand about banks?
906
00:58:40,145 --> 00:58:43,690
Banks take deposits and give
loans, mainly in real estate.
907
00:58:44,358 --> 00:58:47,819
Having one bank is like having another
side of real estate business.
908
00:58:47,903 --> 00:58:51,114
I know there are some complexities
that you left out.
909
00:58:51,740 --> 00:58:56,328
Like, we're black,
and that damn bank is in Texas.
910
00:58:56,411 --> 00:58:59,289
There is no law in Texas
that prevents us from having a bank.
911
00:58:59,373 --> 00:59:02,960
I admit that being black can be
a problem in practical terms.
912
00:59:03,043 --> 00:59:04,837
Do you admit this?
913
00:59:04,920 --> 00:59:06,547
We have Matt as a representative.
914
00:59:06,630 --> 00:59:07,714
Don't say.
915
00:59:07,798 --> 00:59:10,300
Here in Los Angeles
Matt opens doors for us,
916
00:59:10,384 --> 00:59:12,052
doesn't take care of
everyday business,
917
00:59:12,135 --> 00:59:15,097
much less bank employees,
which are not simple.
918
00:59:15,180 --> 00:59:16,765
We would have to monitor closely.
919
00:59:16,849 --> 00:59:18,559
And how do you intend to do this?
920
00:59:18,642 --> 00:59:21,311
We just went into a bank in Texas
if we are employees.
921
00:59:21,770 --> 00:59:23,605
I thought this would be
your favorite part.
922
00:59:23,689 --> 00:59:24,940
I live in Los Angeles.
923
00:59:25,023 --> 00:59:27,442
I don't want to move
to Texas. You want?
924
00:59:27,526 --> 00:59:28,861
During the week.
925
00:59:28,944 --> 00:59:31,822
Working as a janitor
in a bank that belongs to you?
926
00:59:31,905 --> 00:59:32,906
It doesn't have to be like this.
927
00:59:32,990 --> 00:59:35,868
Matt updates me on business
bank accounts at the end of the day.
928
00:59:35,951 --> 00:59:39,037
Why do you think he would move?
to the end of the world?
929
00:59:39,121 --> 00:59:41,915
Without offending your
cosmopolitan hometown.
930
00:59:42,374 --> 00:59:46,044
And Matt has a
good work here.
931
00:59:46,128 --> 00:59:47,671
We would have to make it worth it.
932
00:59:47,754 --> 00:59:51,592
Now we will have to pay you
even more so for being white.
933
00:59:52,551 --> 00:59:56,138
Joe, think of the good we can
do for the black community there.
934
00:59:56,555 --> 00:59:58,390
So that they can buy houses,
open companies.
935
00:59:59,558 --> 01:00:02,853
And besides, that bank
is not being used.
936
01:00:04,188 --> 01:00:07,149
There is enough capital to
double your borrowing base.
937
01:00:07,608 --> 01:00:08,901
We can win a lot there.
938
01:00:08,984 --> 01:00:10,694
We won a lot
money here now.
939
01:00:11,445 --> 01:00:13,322
It will stay there with
that poker face
940
01:00:13,405 --> 01:00:16,408
and tell me there's a reason
commercial to do this?
941
01:00:16,491 --> 01:00:18,660
This is social activism, Bernard.
942
01:00:18,744 --> 01:00:19,745
Pure and simple.
943
01:00:20,162 --> 01:00:22,039
There are many others
ways to do this.
944
01:00:22,956 --> 01:00:26,084
Maybe you feel guilty
for leaving his father behind.
945
01:00:26,168 --> 01:00:27,169
Listen to one thing carefully.
946
01:00:27,711 --> 01:00:31,757
If a visit to your city affects
its rational functions thus,
947
01:00:31,840 --> 01:00:32,841
then we have problems.
948
01:00:34,384 --> 01:00:35,636
With all due respect, Joe.
949
01:00:35,719 --> 01:00:37,763
I think this is something
that you won't understand.
950
01:00:37,846 --> 01:00:38,847
Sorry.
951
01:00:38,931 --> 01:00:40,641
Didn't I wake up black today?
952
01:00:40,724 --> 01:00:42,226
Because I know I woke up.
953
01:00:42,726 --> 01:00:44,269
Yes, I'm still black.
954
01:00:44,353 --> 01:00:48,607
Just because I grew up in California
with a little money,
955
01:00:48,690 --> 01:00:50,400
Don't you consider me black?
956
01:00:50,776 --> 01:00:52,486
I didn't want to take
on the personal side.
957
01:00:54,363 --> 01:00:55,405
Yes, I did.
958
01:00:59,618 --> 01:01:00,661
Sorry.
959
01:01:04,081 --> 01:01:06,458
Bernard, if we go to Texas
960
01:01:06,542 --> 01:01:09,127
and start messing with
Jim Crow, we're going to lose.
961
01:01:09,211 --> 01:01:10,921
It doesn't matter if
whether it's legal or not.
962
01:01:11,421 --> 01:01:14,216
Even Dr. King knows
what civil rights laws
963
01:01:14,299 --> 01:01:15,759
won't come quickly enough
964
01:01:15,843 --> 01:01:18,303
to get out of this
without losing everything.
965
01:01:21,265 --> 01:01:22,599
Bring your father here.
966
01:01:22,683 --> 01:01:24,017
Help him directly.
967
01:01:24,351 --> 01:01:27,437
And let go of the idea that you can
save all the black people in Texas,
968
01:01:27,521 --> 01:01:28,772
because you can't.
969
01:01:29,982 --> 01:01:32,401
I understand if you don't want to
be my partner in this.
970
01:01:33,485 --> 01:01:35,612
You can't buy the
bench alone, Bernard.
971
01:01:35,696 --> 01:01:36,697
Not at this price.
972
01:01:37,114 --> 01:01:39,116
Then I will find someone
to buy it from me.
973
01:01:42,119 --> 01:01:43,662
Jesus H. Christ.
974
01:01:45,706 --> 01:01:48,166
I told you to get rich
would transform you.
975
01:01:51,128 --> 01:01:55,257
Listen to what I say.
It's a bad idea.
976
01:01:56,133 --> 01:01:59,928
But much more audacious than
we buy the Bankers' Building.
977
01:02:00,387 --> 01:02:02,389
And we got that,
wasn't it?
978
01:02:05,934 --> 01:02:07,519
He is well. Count on me.
979
01:02:09,479 --> 01:02:10,522
Shit.
980
01:02:19,573 --> 01:02:23,619
Know that you are completely crazy
crazy, both of you.
981
01:02:23,702 --> 01:02:24,703
Are you ready?
982
01:02:25,245 --> 01:02:26,288
I...
983
01:02:26,371 --> 01:02:28,707
Can you tell me in three sentences
How does a bank work?
984
01:02:30,959 --> 01:02:34,129
A bakery makes a profit selling bread
for more than it cost.
985
01:02:34,755 --> 01:02:35,756
A bank makes a profit
986
01:02:35,839 --> 01:02:39,676
selling loans at a higher cost
than necessary to purchase them.
987
01:02:39,760 --> 01:02:42,763
Basically, a bank takes
depositors' money at 3%
988
01:02:42,846 --> 01:02:43,972
and lends to five.
989
01:02:44,056 --> 01:02:46,725
Our. It was really three sentences.
990
01:02:48,977 --> 01:02:49,978
Let's go.
991
01:02:51,146 --> 01:02:52,189
This will be fun.
992
01:02:53,106 --> 01:02:54,233
Are you going to put on your cap?
993
01:02:54,316 --> 01:02:55,317
I prefer not.
994
01:02:55,776 --> 01:02:56,777
Then it's fine.
995
01:02:57,361 --> 01:02:58,487
Let's go?
996
01:03:07,788 --> 01:03:10,290
Gentlemen, Don Silverthorne.
997
01:03:11,333 --> 01:03:12,459
- Florance.
- Steiner.
998
01:03:12,543 --> 01:03:13,544
Robert Florance Jr.
999
01:03:14,795 --> 01:03:16,547
- Next.
- Please, gentlemen, come in.
1000
01:03:16,630 --> 01:03:17,714
Thanks.
1001
01:03:19,508 --> 01:03:21,301
Yes of course. Sirs.
1002
01:03:24,805 --> 01:03:28,600
My son has a guaranteed position
protect my 20% stake?
1003
01:03:28,684 --> 01:03:29,768
You will see this in the addendum.
1004
01:03:29,852 --> 01:03:32,479
But he won't be the only one anymore
responsible for loans.
1005
01:03:32,563 --> 01:03:35,941
My client wants to buy the bank
to increase the volume of loans
1006
01:03:36,024 --> 01:03:37,818
and thus
the bank's profitability.
1007
01:03:37,901 --> 01:03:41,280
He will report directly to you,
as the new president, Mr. Steiner?
1008
01:03:41,363 --> 01:03:42,364
That's right.
1009
01:03:44,366 --> 01:03:47,327
Who are Bernard
Garrett and Joseph Morris?
1010
01:03:48,328 --> 01:03:49,955
Financial partners
in Los Angeles.
1011
01:04:09,099 --> 01:04:10,225
Why aren't they here?
1012
01:04:10,601 --> 01:04:13,520
Honestly? Because they are rich
Too much to go into detail.
1013
01:04:13,604 --> 01:04:15,022
That's why they hired me.
1014
01:04:15,105 --> 01:04:17,733
They have hundreds
of investments like this in the country.
1015
01:04:17,816 --> 01:04:19,193
Good for them.
1016
01:04:19,860 --> 01:04:22,070
But that's the investment
which are closing today.
1017
01:04:40,797 --> 01:04:43,550
I remember the price
total purchase from the bank
1018
01:04:43,634 --> 01:04:46,803
is in an escrow account
since 11am today.
1019
01:04:46,887 --> 01:04:48,764
And that's all that matters.
1020
01:04:59,358 --> 01:05:03,779
Congratulations, you are now
owner of the bank in your city.
1021
01:05:04,988 --> 01:05:07,115
Time for this nigga
here go back to LA.
1022
01:05:09,576 --> 01:05:10,661
Don't ask.
1023
01:05:15,415 --> 01:05:18,126
My partner and I
we own Banco Mainland.
1024
01:05:18,710 --> 01:05:23,257
And we want to change the policy
for loans to black people.
1025
01:05:24,383 --> 01:05:26,301
But we need
help to identify
1026
01:05:26,385 --> 01:05:29,513
possible responsible borrowers
in their congregations.
1027
01:05:30,138 --> 01:05:32,641
You take the loan...
1028
01:05:32,724 --> 01:05:36,186
I don't need to say that we can't
draw attention to the new policy
1029
01:05:36,270 --> 01:05:38,772
or to the fact that
own the bank.
1030
01:05:40,274 --> 01:05:43,819
Or everything we want to do
goes down the drain.
1031
01:05:45,362 --> 01:05:49,783
But make no mistake, the goal is
promote commercial growth
1032
01:05:49,867 --> 01:05:54,413
and ownership of real estate in our community
through access to capital.
1033
01:05:55,163 --> 01:05:58,166
Thanks to your loan,
We purchased two new pieces of equipment.
1034
01:05:58,250 --> 01:06:00,127
We double our
revenue in three months.
1035
01:06:08,135 --> 01:06:11,013
Approved 14 loans
this week?
1036
01:06:11,930 --> 01:06:13,182
That's right.
1037
01:06:13,599 --> 01:06:15,100
Only five of them were mine.
1038
01:06:16,894 --> 01:06:19,229
There is a lot of capital misused
in this bank.
1039
01:06:19,730 --> 01:06:22,649
Knew I would concede
loans to shake things up.
1040
01:06:22,733 --> 01:06:24,651
I've never seen so many good ones
candidates in a week
1041
01:06:24,735 --> 01:06:26,111
throughout my time at the bank.
1042
01:06:26,653 --> 01:06:28,822
I've been working here since
I turned 18.
1043
01:06:29,531 --> 01:06:31,241
Where are you finding
these people?
1044
01:06:32,034 --> 01:06:34,620
Who is "Solomon Johnson"?
1045
01:06:36,455 --> 01:06:37,748
We are diversifying.
1046
01:06:38,332 --> 01:06:40,459
The more loans,
the greater the profit.
1047
01:06:41,084 --> 01:06:42,252
It works for you too.
1048
01:06:42,794 --> 01:06:44,129
As long as they pay.
1049
01:06:45,547 --> 01:06:46,840
That's what guarantees are for.
1050
01:07:23,210 --> 01:07:26,380
My partner Joe comes every
fifteen days from Los Angeles.
1051
01:07:26,880 --> 01:07:28,006
He wants to meet you.
1052
01:07:28,090 --> 01:07:30,217
I told you that this
It's the best barbecue here.
1053
01:07:30,300 --> 01:07:31,134
Thanks.
1054
01:07:31,218 --> 01:07:33,887
Look,
My books are very simple.
1055
01:07:34,429 --> 01:07:36,849
But I can go to the office
and bring them here.
1056
01:07:36,932 --> 01:07:37,933
You can examine them.
1057
01:07:38,016 --> 01:07:39,726
- It would be amazing. Thanks.
- He is well.
1058
01:07:44,147 --> 01:07:45,232
It's late.
1059
01:07:46,316 --> 01:07:47,901
Florance already knows
of loans.
1060
01:07:49,152 --> 01:07:52,406
From the beginning you distrusted me
and now he's like a hawk.
1061
01:07:52,906 --> 01:07:53,907
Do you know why?
1062
01:07:53,991 --> 01:07:55,868
He dreamed of being the boss,
1063
01:07:55,951 --> 01:07:58,912
without reporting to anyone in California
ten years younger than him.
1064
01:08:38,785 --> 01:08:39,786
I hate it here.
1065
01:08:42,997 --> 01:08:45,626
Calm. We are
here for only three months.
1066
01:08:45,709 --> 01:08:46,835
You already know.
1067
01:08:49,505 --> 01:08:51,173
Why did you agree to come?
1068
01:08:51,840 --> 01:08:53,634
I make $25,000 a year.
1069
01:08:53,716 --> 01:08:56,178
We bought this house
with what I earn in a month.
1070
01:08:56,261 --> 01:08:58,971
When he started, he said
who would be their partner later.
1071
01:08:59,055 --> 01:09:01,225
- Yes, and...
- Partner does not earn a salary.
1072
01:09:01,308 --> 01:09:02,434
Partner is owner.
1073
01:09:03,268 --> 01:09:05,520
That's not what you always told me
to want to be?
1074
01:09:05,604 --> 01:09:07,314
And I will be.
1075
01:09:08,814 --> 01:09:10,317
The next bench we buy.
1076
01:09:13,153 --> 01:09:14,446
Are you going to buy another one?
1077
01:09:16,657 --> 01:09:18,033
We are thinking, yes.
1078
01:09:22,120 --> 01:09:23,705
That would be excellent.
1079
01:09:24,915 --> 01:09:25,916
Wouldn't it be?
1080
01:09:30,671 --> 01:09:33,298
We agree that the place
BBQ is good, right?
1081
01:09:41,974 --> 01:09:43,809
You must be Bernard Garrett.
1082
01:09:45,519 --> 01:09:46,812
And are you Joe Morris?
1083
01:09:46,895 --> 01:09:48,020
Did you follow me here?
1084
01:09:48,104 --> 01:09:50,314
I'm just trying to understand
who owns the bank.
1085
01:09:58,532 --> 01:09:59,908
You are famous.
1086
01:10:02,536 --> 01:10:05,330
You and the vice president
Johnson, if I'm not mistaken.
1087
01:10:10,085 --> 01:10:11,086
Look,
1088
01:10:12,671 --> 01:10:14,673
I have nothing against you,
in person.
1089
01:10:14,756 --> 01:10:16,425
That's a lot
white on your part.
1090
01:10:16,508 --> 01:10:18,552
But if the city finds out
1091
01:10:18,635 --> 01:10:22,598
not only that your bank lends
regularly for black people,
1092
01:10:23,599 --> 01:10:25,267
but what two
blacks are the owners,
1093
01:10:26,727 --> 01:10:28,061
they will take the money from the bank.
1094
01:10:29,146 --> 01:10:30,606
And how would they find out?
1095
01:10:32,649 --> 01:10:34,276
They do not have access
to our books.
1096
01:10:34,651 --> 01:10:35,485
You have.
1097
01:10:35,569 --> 01:10:37,362
It took three
months to find out.
1098
01:10:38,447 --> 01:10:40,324
- I can tell them.
- Maybe yes.
1099
01:10:40,407 --> 01:10:43,285
So you would have 20% of a bank
bankrupt instead of one doing well.
1100
01:10:45,537 --> 01:10:46,580
What do you want?
1101
01:10:48,248 --> 01:10:49,499
Protect my investment.
1102
01:10:50,334 --> 01:10:54,213
If the bank fails,
my 20% is worthless.
1103
01:10:55,506 --> 01:10:57,132
So are we in this together?
1104
01:10:57,841 --> 01:10:59,051
More or less.
1105
01:10:59,134 --> 01:11:01,803
My father didn't know that
sold his bank to two black people,
1106
01:11:01,887 --> 01:11:04,348
therefore, this is fraud.
1107
01:11:04,848 --> 01:11:06,433
Not quite, Bob.
1108
01:11:07,059 --> 01:11:10,771
Our names are on the contract
that you signed.
1109
01:11:10,854 --> 01:11:12,689
You even asked who we were.
1110
01:11:13,398 --> 01:11:14,733
I don't know who told you that.
1111
01:11:14,816 --> 01:11:17,236
Nobody. I was there.
1112
01:11:17,778 --> 01:11:19,112
I wasn't, no.
1113
01:11:21,156 --> 01:11:22,199
Remember now?
1114
01:11:24,993 --> 01:11:27,412
And let's make it clear,
Your father knew, yes.
1115
01:11:29,248 --> 01:11:30,249
You're lying.
1116
01:11:30,332 --> 01:11:34,127
Ask him, or I find the letter in
who spoke of it to Silverthorne.
1117
01:11:36,964 --> 01:11:38,590
You think yourselves are very smart.
1118
01:11:38,674 --> 01:11:39,716
And we are.
1119
01:11:40,259 --> 01:11:41,635
For two colored boys.
1120
01:11:43,720 --> 01:11:45,222
They didn't do a few for their people.
1121
01:11:45,305 --> 01:11:47,558
They had to do
19 like that right away?
1122
01:11:50,394 --> 01:11:51,854
Well, here we have another letter.
1123
01:11:51,937 --> 01:11:55,357
This is from the Comptroller.
From the Dept. From the US Treasury.
1124
01:11:55,440 --> 01:11:58,527
Our annual inspection will now be
every six months.
1125
01:11:58,610 --> 01:11:59,945
Only one month left.
1126
01:12:00,028 --> 01:12:02,823
Result of anonymous reports
on unsecured loans.
1127
01:12:04,324 --> 01:12:07,786
They think they understand the city
When did they move in three months ago?
1128
01:12:08,996 --> 01:12:10,080
They are mistaken.
1129
01:12:10,497 --> 01:12:11,498
I was born here.
1130
01:12:11,582 --> 01:12:14,626
Me too. In this house.
1131
01:12:18,422 --> 01:12:19,548
Well,
1132
01:12:20,090 --> 01:12:22,968
then you should know that
The secret would soon be discovered.
1133
01:12:45,157 --> 01:12:48,660
We will have to stop giving loans
for blacks until the end of the inspection.
1134
01:12:48,744 --> 01:12:51,163
What about those already in the books?
1135
01:12:53,332 --> 01:12:54,833
Can I propose something?
1136
01:12:54,917 --> 01:12:56,460
Can I have a nice drink?
1137
01:12:58,587 --> 01:13:00,088
We should buy another bank.
1138
01:13:00,172 --> 01:13:01,590
Do a double.
1139
01:13:02,633 --> 01:13:03,967
What? No, I...
1140
01:13:04,051 --> 01:13:05,177
I'm serious.
1141
01:13:14,144 --> 01:13:15,938
Marlin Bank is small.
1142
01:13:16,021 --> 01:13:18,690
You can buy it for 274,000.
1143
01:13:18,774 --> 01:13:21,318
Half of what you paid
for 80% of Mainland.
1144
01:13:21,401 --> 01:13:22,653
As president of both,
1145
01:13:22,736 --> 01:13:25,948
I would pass the black loans
From Mainland to Bank of Marlin
1146
01:13:26,031 --> 01:13:27,658
before Mainland inspection.
1147
01:13:28,116 --> 01:13:30,369
That way the government wouldn't get involved
in our business
1148
01:13:30,452 --> 01:13:32,454
and that would make
Florance our ally.
1149
01:13:32,913 --> 01:13:34,122
It's an interesting idea,
1150
01:13:34,206 --> 01:13:38,418
but Joe and I don't have
$274,000 in cash left over.
1151
01:13:39,127 --> 01:13:42,506
And I doubt Silverthorne will help us
to buy another bank in Texas.
1152
01:13:42,589 --> 01:13:45,300
I think I have one
solution for this.
1153
01:13:46,343 --> 01:13:48,345
Marlin has two
million in deposits,
1154
01:13:48,428 --> 01:13:50,180
but he only made a million
in loans.
1155
01:13:50,264 --> 01:13:51,932
And that's why it's not profitable.
1156
01:13:52,015 --> 01:13:53,058
We bought the bank.
1157
01:13:53,141 --> 01:13:56,395
We use the extra to buy
loans from an intermediary.
1158
01:13:56,770 --> 01:14:01,650
I identified a loan package
with 8% interest offered at 6.5%.
1159
01:14:01,733 --> 01:14:04,945
That 1.5% spread
brings immediate profit to the bank.
1160
01:14:05,028 --> 01:14:06,613
If default is not high.
1161
01:14:06,697 --> 01:14:08,282
View the underlying loans.
1162
01:14:08,365 --> 01:14:09,950
They look pretty solid to me.
1163
01:14:10,033 --> 01:14:12,619
The package is at
sell for 971,000.
1164
01:14:12,703 --> 01:14:15,831
What doesn't solve the problem
of mine and Joe's cash flow.
1165
01:14:15,914 --> 01:14:19,793
It doesn't solve it, but if you and Joe
enter as brokers,
1166
01:14:19,877 --> 01:14:21,753
the Bank of Marlin can
pay a commission
1167
01:14:21,837 --> 01:14:24,464
of almost 200,000 in
mortgage package.
1168
01:14:24,548 --> 01:14:28,302
That's a lot of commission for one package
of a million mortgages.
1169
01:14:28,385 --> 01:14:30,470
Maybe, but it's totally legal.
1170
01:14:30,554 --> 01:14:32,139
Cut 2/3 of your investment.
1171
01:14:32,222 --> 01:14:35,142
The bank becomes profitable and we maintain
black loans.
1172
01:14:35,225 --> 01:14:36,226
Everyone wins.
1173
01:14:36,310 --> 01:14:37,769
It's too good to be true.
1174
01:14:38,228 --> 01:14:39,980
Ask the
lawyers check.
1175
01:14:41,064 --> 01:14:43,817
Matt, even if it's true,
1176
01:14:44,610 --> 01:14:47,988
Joe has to spend time in Los Angeles
supervising the properties there.
1177
01:14:48,488 --> 01:14:50,908
And I'm here supervising
you and Mainland,
1178
01:14:50,991 --> 01:14:53,285
where I can't even enter.
1179
01:14:54,661 --> 01:14:58,373
I don't think it's time to
we buy another bank in Texas.
1180
01:14:58,457 --> 01:15:00,959
No need,
if you let me take care of this one.
1181
01:15:01,793 --> 01:15:02,793
Take care of everything.
1182
01:15:05,589 --> 01:15:06,589
Matt,
1183
01:15:07,674 --> 01:15:10,427
I can't speak for Joe,
but that doesn't look good to me.
1184
01:15:11,512 --> 01:15:13,805
Sorry to interrupt.
1185
01:15:13,889 --> 01:15:14,973
Want one?
1186
01:15:15,057 --> 01:15:16,141
- No.
- Okay.
1187
01:15:26,235 --> 01:15:28,946
We agreed that I would be a partner
from the next bank.
1188
01:15:29,029 --> 01:15:30,405
We even put it in the contract.
1189
01:15:30,822 --> 01:15:33,242
Three months ago, you
I didn't know anything about banks.
1190
01:15:33,325 --> 01:15:34,785
But I've learned a lot since then.
1191
01:15:34,868 --> 01:15:37,162
It's not that I don't
Have faith in yourself, it's just...
1192
01:15:38,205 --> 01:15:39,206
What?
1193
01:15:40,165 --> 01:15:44,628
It's $274,000 from
Joe's money and mine.
1194
01:15:45,379 --> 01:15:47,631
We should at least
have the last word, right?
1195
01:15:51,927 --> 01:15:53,303
If I won't have autonomy here,
1196
01:15:53,387 --> 01:15:55,514
then I withdraw and
I go back to Los Angeles.
1197
01:15:58,183 --> 01:16:00,727
- Is this blackmail?
- No.
1198
01:16:01,436 --> 01:16:02,563
That's not fair, Joe.
1199
01:16:02,646 --> 01:16:04,147
You taught me a lot.
1200
01:16:04,231 --> 01:16:05,649
I just want to be more like you.
1201
01:16:06,066 --> 01:16:07,067
One owner.
1202
01:16:08,360 --> 01:16:09,778
No matter what they decide...
1203
01:16:11,196 --> 01:16:13,782
I really appreciate everything
what they did for me.
1204
01:16:17,786 --> 01:16:20,038
You said that
it would be complicated.
1205
01:16:20,122 --> 01:16:24,209
What I said was:
"That's a bad idea."
1206
01:16:25,502 --> 01:16:29,006
Then I agreed to throw myself out of
cliff with you and here we are.
1207
01:16:29,965 --> 01:16:34,803
We have to buy a bench for a
boy with 90 days of experience.
1208
01:16:36,597 --> 01:16:37,681
Without a sponsor.
1209
01:16:45,731 --> 01:16:49,526
Guys, I would like to say that I am
excited to work with you.
1210
01:16:49,610 --> 01:16:51,653
We will do things
incredible on this bench.
1211
01:16:51,737 --> 01:16:55,282
We will grow by helping the community
to grow together with us.
1212
01:16:56,700 --> 01:16:57,868
My door is open.
1213
01:16:58,619 --> 01:17:00,412
Let's show the public
our new face.
1214
01:17:12,341 --> 01:17:15,010
The twelfth loan
It's that one right there.
1215
01:17:16,011 --> 01:17:18,263
Another beautiful house
in a white neighborhood.
1216
01:17:18,347 --> 01:17:19,515
Score five.
1217
01:17:22,434 --> 01:17:23,644
Thanks for doing this.
1218
01:17:25,604 --> 01:17:27,064
How else would I learn?
1219
01:17:37,241 --> 01:17:38,242
You can stop.
1220
01:17:38,325 --> 01:17:40,536
There's no one here
to see you cleaning.
1221
01:17:40,619 --> 01:17:43,038
I try to do the best
in everything I do.
1222
01:17:46,959 --> 01:17:48,418
I'm sorry I have to use this.
1223
01:17:49,753 --> 01:17:52,339
I would like you to trust me,
I wouldn't need to do that.
1224
01:17:53,173 --> 01:17:54,716
Are you upset because I'm here?
1225
01:17:57,511 --> 01:17:58,512
A little.
1226
01:18:02,099 --> 01:18:04,309
Are you upset because
I want to manage my bank?
1227
01:18:07,145 --> 01:18:08,146
A little.
1228
01:18:09,064 --> 01:18:10,107
True?
1229
01:18:12,359 --> 01:18:14,403
You know I wasn't born rich.
1230
01:18:15,070 --> 01:18:16,989
I learned to pretend to be rich.
And you helped me.
1231
01:18:20,325 --> 01:18:21,368
I understand...
1232
01:18:22,327 --> 01:18:23,954
that just worked
because I'm white.
1233
01:18:25,414 --> 01:18:26,456
And man.
1234
01:18:29,501 --> 01:18:30,502
I just...
1235
01:18:32,212 --> 01:18:34,840
I want to be respected
for what I did for the business.
1236
01:18:37,176 --> 01:18:38,886
Respect is a great thing.
1237
01:18:39,553 --> 01:18:42,639
Sometimes people take risks
too much to go after him.
1238
01:18:43,891 --> 01:18:46,143
I want this bank to succeed
as much as you.
1239
01:18:46,226 --> 01:18:47,603
I want you to be successful.
1240
01:18:48,604 --> 01:18:50,814
And I hope you don't misunderstand me,
1241
01:18:51,815 --> 01:18:54,484
but entered banks
just three months ago.
1242
01:18:57,237 --> 01:18:58,238
Bernard too.
1243
01:19:08,957 --> 01:19:09,958
They are all solid.
1244
01:19:10,042 --> 01:19:12,461
We saw the properties
of all loans.
1245
01:19:12,961 --> 01:19:14,087
It was fast.
1246
01:19:14,171 --> 01:19:18,050
Check that the documentation is the same
to what it was before giving any money.
1247
01:19:18,133 --> 01:19:18,967
Yes of course.
1248
01:19:19,051 --> 01:19:21,303
And contact the lawyer
that I mentioned, in Houston.
1249
01:19:21,386 --> 01:19:24,306
I've already worked with him. O'Keefe.
Michael O'Keefe. I trust him.
1250
01:19:24,389 --> 01:19:25,849
I've already contacted him, he'll be there.
1251
01:19:25,933 --> 01:19:26,934
Perfect.
1252
01:19:27,476 --> 01:19:28,477
Excuse me.
1253
01:19:29,353 --> 01:19:30,771
Man, this place is so good.
1254
01:19:31,855 --> 01:19:33,857
I'll be back early tomorrow.
1255
01:19:33,941 --> 01:19:35,776
BLACK-OWNED BUSINESS
1256
01:19:35,859 --> 01:19:37,236
Okay.
1257
01:19:38,070 --> 01:19:39,905
I'll fix this quickly.
1258
01:19:47,371 --> 01:19:48,539
He is well.
1259
01:19:56,505 --> 01:19:58,841
I found his statement
made with great care.
1260
01:19:58,924 --> 01:20:01,802
I had no guarantee that Mr.
Khrushchev or the Soviet Union
1261
01:20:01,885 --> 01:20:04,054
was out of the space race.
1262
01:20:04,137 --> 01:20:04,972
I think it's...
1263
01:20:05,055 --> 01:20:08,684
Mr. Steiner, your lawyer is finishing
to review the loan package.
1264
01:20:08,767 --> 01:20:09,810
Excellent.
1265
01:20:16,441 --> 01:20:18,277
- Let me know if you want something.
- Thanks.
1266
01:20:18,819 --> 01:20:21,405
Thank you very much
for being so fast.
1267
01:20:21,822 --> 01:20:23,448
What about the underlying loans?
1268
01:20:23,532 --> 01:20:25,993
They are solid. You can start
signing the contracts now.
1269
01:20:26,076 --> 01:20:27,077
Excellent.
1270
01:20:31,373 --> 01:20:33,125
BUYER: M. STEINER
1271
01:20:33,208 --> 01:20:34,543
OVERVIEW
LOAN PACKAGE
1272
01:20:34,626 --> 01:20:36,837
TOTAL AMOUNT, $971,213
1273
01:20:37,421 --> 01:20:38,797
INITIALS: M S
1274
01:20:39,548 --> 01:20:41,800
971,213.00 CENTS
CENTRAL TEXAS ASSOCIATION. LENDING
1275
01:20:41,884 --> 01:20:43,802
AUTHORIZED SIGNATURE
1276
01:20:50,184 --> 01:20:51,351
- Hi.
- Hi.
1277
01:20:54,354 --> 01:20:55,606
Hi, how are you?
1278
01:20:55,689 --> 01:20:56,732
Everything, and you?
1279
01:20:56,815 --> 01:20:58,066
All good.
1280
01:20:58,150 --> 01:20:59,193
How it was?
1281
01:21:00,277 --> 01:21:03,238
I just spent one
check for $971,000.
1282
01:21:03,947 --> 01:21:04,948
It was the first time.
1283
01:21:05,490 --> 01:21:07,034
You have a talent for business.
1284
01:21:07,910 --> 01:21:09,328
I don't know. I mean...
1285
01:21:09,870 --> 01:21:12,456
tell that to those who invested
at a drive-in ice cream parlor.
1286
01:21:12,539 --> 01:21:13,665
You were 19 years old.
1287
01:21:14,082 --> 01:21:16,502
But it was my father's savings.
1288
01:21:16,585 --> 01:21:19,296
I don't want to lose the money
of Joe and Bernard in the same way.
1289
01:21:19,379 --> 01:21:20,631
They are lucky to have you.
1290
01:21:20,714 --> 01:21:24,051
I'm the lucky one. I'm learning
with people smarter than me.
1291
01:21:25,135 --> 01:21:26,220
Matt,
1292
01:21:26,303 --> 01:21:27,763
they are not smarter.
1293
01:21:28,222 --> 01:21:30,015
I mean, they can't be.
1294
01:21:31,517 --> 01:21:32,643
They are my friends.
1295
01:21:33,435 --> 01:21:35,896
Sorry. I don't...
1296
01:21:35,979 --> 01:21:37,523
- No.
- It's just... Matt.
1297
01:21:38,232 --> 01:21:39,316
Don't talk like that.
1298
01:21:40,901 --> 01:21:41,944
Hello?
1299
01:21:42,694 --> 01:21:43,694
It's Florence.
1300
01:21:45,197 --> 01:21:46,698
Four white customers
1301
01:21:46,782 --> 01:21:49,201
they say they will take it all away
your money from the bank
1302
01:21:49,284 --> 01:21:50,577
because they think he is
1303
01:21:50,661 --> 01:21:53,705
of the National Association for
Promotion of People of Color.
1304
01:22:06,760 --> 01:22:08,470
This was in
Mainland door.
1305
01:22:08,554 --> 01:22:10,264
BANK WITH ANPPC
1306
01:22:10,347 --> 01:22:11,348
Subtle.
1307
01:22:12,391 --> 01:22:16,103
Five white customers took
all in the last two days.
1308
01:22:16,478 --> 01:22:18,897
Florence got it
let nine stay.
1309
01:22:19,523 --> 01:22:20,524
It makes sense.
1310
01:22:20,607 --> 01:22:25,237
Since Florance must have been
who started and spread the rumors.
1311
01:22:25,320 --> 01:22:27,239
What? Why do you think that?
1312
01:22:28,657 --> 01:22:30,617
I told you back there, Bernard.
1313
01:22:30,701 --> 01:22:31,702
I don't trust anyone.
1314
01:22:32,619 --> 01:22:34,580
Mainly in
whites. I remember.
1315
01:22:34,663 --> 01:22:38,667
No, I said white and black.
1316
01:22:38,750 --> 01:22:42,004
The difference is that
when a white person screws you,
1317
01:22:42,087 --> 01:22:45,299
count on other white people
to pretend that everything is fine.
1318
01:22:45,382 --> 01:22:48,760
And knowing this, people
show their worst side.
1319
01:22:49,970 --> 01:22:53,348
How can you be so pessimistic
and get out of bed in the morning?
1320
01:22:54,433 --> 01:22:56,894
It's fun to play though
that it is a rigged game.
1321
01:23:06,695 --> 01:23:07,696
Matt Steiner?
1322
01:23:08,530 --> 01:23:09,698
Yes.
1323
01:23:09,781 --> 01:23:12,743
I am an inspector of
Comptroller of the Currency.
1324
01:23:14,620 --> 01:23:15,704
Right?
1325
01:23:24,421 --> 01:23:25,422
Hello?
1326
01:23:25,506 --> 01:23:27,841
A federal inspector
just left here.
1327
01:23:27,925 --> 01:23:29,635
I thought it would only be
next month.
1328
01:23:29,718 --> 01:23:31,470
I'm talking about Marlin, not Mainland.
1329
01:23:33,764 --> 01:23:34,890
What did he say?
1330
01:23:35,766 --> 01:23:38,227
To show the books.
He'll be back in an hour.
1331
01:23:39,811 --> 01:23:40,812
Shit.
1332
01:23:42,898 --> 01:23:43,941
This was not for nothing.
1333
01:23:44,024 --> 01:23:45,192
Matt's not ready.
1334
01:23:45,275 --> 01:23:46,276
How could it be?
1335
01:23:46,360 --> 01:23:47,778
And you're going to do something stupid.
1336
01:23:47,861 --> 01:23:49,154
We cannot allow this.
1337
01:23:49,238 --> 01:23:53,075
I would have to be in the next room
his side so this doesn't happen.
1338
01:23:53,158 --> 01:23:55,244
And I can't do that, can I?
1339
01:23:55,327 --> 01:23:57,246
You can do something very similar.
1340
01:23:59,498 --> 01:24:01,083
There must be another way.
1341
01:24:03,961 --> 01:24:06,672
Joe ain't got no pride like that,
He puts on a driver's uniform.
1342
01:24:06,755 --> 01:24:09,424
Joe was born in a
family with money.
1343
01:24:09,508 --> 01:24:11,051
For him it's playing
to dress up.
1344
01:24:11,134 --> 01:24:13,804
But not me. I didn't have
nothing as a child.
1345
01:24:13,887 --> 01:24:16,557
How many times have I worn this uniform?
to contribute to the business?
1346
01:24:16,640 --> 01:24:17,641
You are...
1347
01:24:18,183 --> 01:24:19,685
- A woman?
- Yes.
1348
01:24:21,895 --> 01:24:22,771
I love you, Bernard.
1349
01:24:22,855 --> 01:24:24,731
But you think that's different
of a white man
1350
01:24:24,815 --> 01:24:26,900
affirm that having dignity
attacked is nothing
1351
01:24:26,984 --> 01:24:27,985
Why are you black?
1352
01:25:28,128 --> 01:25:30,506
Should have been a driver
by limousine when I could.
1353
01:25:31,757 --> 01:25:34,510
I don't like what caps do
with my head.
1354
01:25:35,219 --> 01:25:36,845
You made a joke.
1355
01:25:36,929 --> 01:25:38,931
What else can I do
in a situation like that?
1356
01:25:40,724 --> 01:25:43,185
When we understand
how life works,
1357
01:25:44,269 --> 01:25:45,646
We can only laugh.
1358
01:25:49,566 --> 01:25:51,944
Don't want a coffee or anything?
1359
01:25:52,027 --> 01:25:53,028
No thanks.
1360
01:25:53,111 --> 01:25:54,655
Ice water, perhaps?
1361
01:25:54,738 --> 01:25:56,615
At the end of the business day,
on Friday,
1362
01:25:56,698 --> 01:26:00,285
the total of delinquent loans
over 60 days was it less than 5%?
1363
01:26:01,703 --> 01:26:02,704
Yes.
1364
01:26:02,788 --> 01:26:04,206
What was the exact percentage?
1365
01:26:07,125 --> 01:26:08,418
3%.
1366
01:26:17,886 --> 01:26:21,473
We are discussing
confidential information.
1367
01:26:21,932 --> 01:26:23,851
The caretaker would never understand that.
1368
01:26:23,934 --> 01:26:25,102
Someone else could.
1369
01:26:29,481 --> 01:26:31,066
Let's analyze this transaction.
1370
01:26:31,775 --> 01:26:35,362
These were loans that we bought for
increase the loan-equity ratio.
1371
01:26:37,865 --> 01:26:38,866
He's doing badly.
1372
01:26:41,702 --> 01:26:43,537
I can read the description myself.
1373
01:26:43,620 --> 01:26:45,914
I'm curious about
this charge here.
1374
01:26:45,998 --> 01:26:52,129
That's $189,186.04 for Valley
National, mortgage company.
1375
01:26:52,713 --> 01:26:54,381
There is no description for this.
1376
01:26:54,882 --> 01:26:56,175
It's the brokerage fee.
1377
01:26:58,010 --> 01:27:04,433
A commission of $189,000
in a $971,000 package
1378
01:27:05,017 --> 01:27:06,935
with a broker in Houston?
1379
01:27:07,603 --> 01:27:09,146
It's a pretty high commission.
1380
01:27:09,771 --> 01:27:14,234
No, it's 19.5%, but it includes the
payment for future consultations.
1381
01:27:14,776 --> 01:27:16,612
It's a strange arrangement.
1382
01:27:16,695 --> 01:27:18,113
Mr. Garrett and Mr. Morris?
1383
01:27:18,197 --> 01:27:20,449
Is this a cause for concern?
1384
01:27:20,532 --> 01:27:22,618
Didn't come here
to see if my bank is solid?
1385
01:27:23,869 --> 01:27:25,913
Right,
Let's look at loans.
1386
01:27:26,997 --> 01:27:30,834
Paid $971,213 for
these loans.
1387
01:27:30,918 --> 01:27:33,128
In his books they appear like this.
1388
01:27:33,212 --> 01:27:34,546
Yes of course.
1389
01:27:34,630 --> 01:27:37,966
Show the methodology you used to
justify this book value.
1390
01:27:39,635 --> 01:27:41,011
It's an expert who does this.
1391
01:27:41,094 --> 01:27:42,179
Call him here, please.
1392
01:27:44,389 --> 01:27:45,432
He's not here today.
1393
01:27:50,479 --> 01:27:53,273
But I can check
your files.
1394
01:27:53,774 --> 01:27:54,900
Please.
1395
01:28:08,872 --> 01:28:12,668
He wants to know what methodology we use
for the value of the loans in the package.
1396
01:28:12,751 --> 01:28:13,752
Right.
1397
01:28:14,545 --> 01:28:15,546
Pay attention.
1398
01:28:16,588 --> 01:28:18,549
It's an equation
default to current value.
1399
01:28:19,550 --> 01:28:22,636
This is the payment schedule
monthly payment of the person's loan.
1400
01:28:22,719 --> 01:28:25,347
Adjust the factor
risk to standard.
1401
01:28:25,430 --> 01:28:27,516
The standard is 5% in Texas.
1402
01:28:27,975 --> 01:28:28,976
That's what I used.
1403
01:28:30,018 --> 01:28:31,144
Tear it up for me.
1404
01:28:31,228 --> 01:28:33,063
Can't enter
there with that role.
1405
01:28:33,146 --> 01:28:34,773
It's Bernard's handwriting.
1406
01:28:34,857 --> 01:28:35,857
- Memorize.
- It does not give.
1407
01:28:35,899 --> 01:28:38,110
Of course it does. Your
memory is great.
1408
01:28:38,193 --> 01:28:39,069
I'm nervous.
1409
01:28:39,152 --> 01:28:40,279
Listening.
1410
01:28:40,362 --> 01:28:43,282
If he fails this test he will
reduce those loans,
1411
01:28:43,365 --> 01:28:45,075
which will affect the
bank stability.
1412
01:28:45,158 --> 01:28:46,158
From your bank.
1413
01:28:46,618 --> 01:28:47,703
That's your bench, Matt.
1414
01:28:47,786 --> 01:28:50,205
Take a deep breath,
go out there and save your bank.
1415
01:28:52,082 --> 01:28:53,709
Right,
let me look at that again.
1416
01:28:59,256 --> 01:29:02,426
Okay, I have the methodology.
1417
01:29:02,509 --> 01:29:03,594
We'll talk about that in a moment.
1418
01:29:03,677 --> 01:29:06,305
I saw problems with loans
individuals in the meantime.
1419
01:29:06,972 --> 01:29:09,099
I evaluated them
conservative way.
1420
01:29:09,516 --> 01:29:10,809
We didn't do anything wrong.
1421
01:29:10,893 --> 01:29:14,354
If they want to close us,
there are several ways to do this.
1422
01:29:14,771 --> 01:29:16,773
5% rate?
1423
01:29:17,649 --> 01:29:20,152
What if there was a drought?
1424
01:29:20,235 --> 01:29:22,571
You black people
have to evaluate loans
1425
01:29:22,654 --> 01:29:26,575
assuming there will be
a historic drought.
1426
01:29:27,075 --> 01:29:29,661
25% rate for everyone.
1427
01:29:31,705 --> 01:29:34,208
This loan will have to be
sold immediately.
1428
01:29:35,375 --> 01:29:36,710
And this one.
1429
01:29:37,127 --> 01:29:39,087
And this other one.
1430
01:29:39,171 --> 01:29:41,215
Why? What is there
wrong with them?
1431
01:29:41,298 --> 01:29:43,175
This one is $21,000.
1432
01:29:43,258 --> 01:29:45,844
Your fixed capital account
is $200,000.
1433
01:29:45,928 --> 01:29:46,929
Right.
1434
01:29:49,139 --> 01:29:51,391
You don't understand why this
It's a problem, you know?
1435
01:29:52,935 --> 01:29:57,439
The National Bank Law provides that
the bank cannot have a loan
1436
01:29:57,523 --> 01:29:59,858
greater than 10% of the
its share capital.
1437
01:29:59,942 --> 01:30:02,069
Or $20,000 in this case.
1438
01:30:02,986 --> 01:30:03,986
Right.
1439
01:30:07,574 --> 01:30:09,284
But this one is only 4,000.
1440
01:30:09,368 --> 01:30:11,578
It's for 25 years. O
same with this one.
1441
01:30:13,080 --> 01:30:15,582
A bank of this size only
can do for 20 years.
1442
01:30:16,750 --> 01:30:20,879
And this one looks good, but
is three months late.
1443
01:30:21,797 --> 01:30:24,716
I'm not going to ask you to sell it,
but I will classify it.
1444
01:30:24,800 --> 01:30:27,135
Decrease 40% of
value of your books
1445
01:30:27,219 --> 01:30:29,137
to compensate for the high risk
of default.
1446
01:30:35,394 --> 01:30:38,146
Wait there. I'll be right back.
1447
01:30:43,569 --> 01:30:45,612
How do these loans
did they come in the package?
1448
01:30:45,696 --> 01:30:47,573
- I don't know.
- It's unacceptable.
1449
01:30:47,656 --> 01:30:49,658
I looked at all
individual loans.
1450
01:30:49,741 --> 01:30:52,578
There was nothing over $
20,000. Nothing over 20 years old.
1451
01:30:52,661 --> 01:30:54,913
Look at the loans
When did you get them?
1452
01:30:55,581 --> 01:30:57,666
Did you look at the damn loans?
1453
01:30:57,749 --> 01:30:59,877
I looked at them all.
Perhaps with little care.
1454
01:30:59,960 --> 01:31:00,961
The general description...
1455
01:31:01,044 --> 01:31:02,171
It's unbelievable.
1456
01:31:02,713 --> 01:31:04,381
They can't lie
in the general description.
1457
01:31:04,464 --> 01:31:07,926
- Matt, there are no limiters.
- What?
1458
01:31:08,010 --> 01:31:10,929
There's nothing here about limits
of individual loans,
1459
01:31:11,013 --> 01:31:12,598
dollar amounts or durations.
1460
01:31:12,681 --> 01:31:13,932
They are just averages.
1461
01:31:15,142 --> 01:31:16,268
They didn't lie.
1462
01:31:16,351 --> 01:31:18,270
They just hid the
problem with averages.
1463
01:31:18,353 --> 01:31:20,689
How did the
lawyer didn't see this?
1464
01:31:21,315 --> 01:31:23,400
- I couldn't use O'Keefe.
- What?
1465
01:31:23,483 --> 01:31:26,153
Bernard checked the properties
quickly and went ahead with the purchase.
1466
01:31:26,236 --> 01:31:27,988
O'Keefe couldn't,
I found someone else.
1467
01:31:28,071 --> 01:31:29,615
- How did you find it?
- I asked around.
1468
01:31:29,698 --> 01:31:32,075
He asked... He asked
around. Like this?
1469
01:31:32,159 --> 01:31:34,912
We said we couldn't
have your bank. We warned you.
1470
01:31:34,995 --> 01:31:36,830
You forced us. It was
that's what happened.
1471
01:31:38,624 --> 01:31:43,295
Whoever asked you
appoint a lawyer?
1472
01:31:45,672 --> 01:31:46,673
To whom, Matt?
1473
01:31:47,508 --> 01:31:48,509
Florence.
1474
01:31:49,593 --> 01:31:50,719
Florence?
1475
01:31:51,303 --> 01:31:52,888
Did you ask Florance?
1476
01:31:54,264 --> 01:31:56,558
He switched mortgages.
1477
01:31:56,642 --> 01:31:57,809
Why would he do that?
1478
01:31:57,893 --> 01:31:59,228
To finish off Marlin.
1479
01:31:59,311 --> 01:32:03,023
And the worst thing is knowing here,
in that ridiculous outfit,
1480
01:32:03,106 --> 01:32:04,274
that you helped him with this!
1481
01:32:04,358 --> 01:32:05,901
No, that's illegal, isn't it?
1482
01:32:06,902 --> 01:32:08,487
And what does he gain from it?
1483
01:32:08,570 --> 01:32:09,988
Ammunition.
1484
01:32:10,072 --> 01:32:12,282
Against us in the Mainland.
1485
01:32:13,075 --> 01:32:14,868
Or maybe just us
see failing.
1486
01:32:24,127 --> 01:32:29,883
We have to sell 27 loans
bad in a week and cover the rest.
1487
01:32:31,176 --> 01:32:33,053
We're going to lose $300,000,
1488
01:32:33,136 --> 01:32:38,308
unless Matt can make Marlin
the best bank in Texas history.
1489
01:32:41,854 --> 01:32:43,647
Or you could
let it close.
1490
01:32:45,899 --> 01:32:47,359
It's Matt's fault, not yours.
1491
01:32:47,442 --> 01:32:49,570
It's mine, yes.
1492
01:32:50,404 --> 01:32:54,074
I thought I was smart enough
to come here and do all this.
1493
01:32:54,867 --> 01:32:55,909
Joe warned me.
1494
01:32:57,035 --> 01:32:58,036
You warned me.
1495
01:33:00,497 --> 01:33:02,499
My father warned me
when I was 13 years old.
1496
01:33:07,004 --> 01:33:10,465
If it were easy, someone
would have done a long time ago.
1497
01:33:16,263 --> 01:33:18,098
So, are you going to leave everything behind?
1498
01:33:18,640 --> 01:33:20,184
It's the only thing to do.
1499
01:33:20,267 --> 01:33:21,727
No, we could sue them.
1500
01:33:21,810 --> 01:33:25,147
You signed a document
saying he knew what he was buying.
1501
01:33:25,230 --> 01:33:27,065
The lawyer lied.
We can sue you.
1502
01:33:27,149 --> 01:33:29,318
You maybe can,
Matt. Not us.
1503
01:33:29,943 --> 01:33:32,654
Bernard and I can't
win the case, not in Texas.
1504
01:33:33,197 --> 01:33:36,241
And the Marlin will be gone,
same.
1505
01:33:36,325 --> 01:33:39,036
I'm not going to lose Marlin. Must
there is something I can do.
1506
01:33:39,119 --> 01:33:40,120
I'm sorry, Matt.
1507
01:33:40,204 --> 01:33:43,081
I know it was your project, but
I need you to focus on Mainland.
1508
01:33:45,459 --> 01:33:46,460
As?
1509
01:33:46,543 --> 01:33:47,961
Keeping an eye on Florance.
1510
01:33:48,045 --> 01:33:50,172
And ensuring
that when the white people arrive,
1511
01:33:50,255 --> 01:33:52,591
see a white
in the president's room
1512
01:33:52,674 --> 01:33:54,468
so as not to withdraw their deposits.
1513
01:34:15,322 --> 01:34:16,532
Garrett residence.
1514
01:34:17,074 --> 01:34:19,201
Yes, he is here. One moment.
1515
01:34:19,701 --> 01:34:21,161
Joe, it's for you.
1516
01:34:23,330 --> 01:34:24,498
Yes, Joe speaking.
1517
01:34:24,581 --> 01:34:25,582
Don't say I told you,
1518
01:34:25,666 --> 01:34:29,044
But I have a friend in the Comptroller's Office
that informs me of things.
1519
01:34:29,753 --> 01:34:30,921
He called me yesterday and said
1520
01:34:31,004 --> 01:34:34,091
that Matt managed to get out of the books
Marlin's bad loans.
1521
01:34:34,591 --> 01:34:35,425
It doesn't matter,
1522
01:34:35,509 --> 01:34:38,011
because we decided not to
Let's put more money there.
1523
01:34:38,095 --> 01:34:39,805
At face value. No discounts.
1524
01:34:39,888 --> 01:34:42,516
So Marlin is well again,
completely solvent...
1525
01:34:43,725 --> 01:34:45,018
without your capital.
1526
01:34:46,019 --> 01:34:49,273
Who would pay the face value for
those stupid loans?
1527
01:34:49,898 --> 01:34:51,817
Mainland Bank in Willis, Texas.
1528
01:34:51,900 --> 01:34:53,026
How it is?
1529
01:34:53,569 --> 01:34:55,404
Son of a bitch!
1530
01:35:18,927 --> 01:35:20,220
What are you doing?
1531
01:35:20,304 --> 01:35:21,889
Mainland paid face value
1532
01:35:21,972 --> 01:35:24,558
for the loans that the inspector
Did you order it reduced in Marlin?
1533
01:35:24,641 --> 01:35:25,809
It's something temporary.
1534
01:35:25,893 --> 01:35:28,145
- It's fraud.
- Not if we classify them...
1535
01:35:28,228 --> 01:35:31,064
If it continues like this, it will
Sink both banks, Matt.
1536
01:35:31,815 --> 01:35:32,941
Get the books.
1537
01:35:33,609 --> 01:35:35,944
- We shouldn't wait...
- Get the books now.
1538
01:35:54,922 --> 01:35:57,090
I just transferred...
1539
01:35:57,174 --> 01:35:59,551
Matthew Steiner,
Mainland Bank president?
1540
01:36:00,761 --> 01:36:01,762
- Yes.
- I'm Norman Dunn,
1541
01:36:01,845 --> 01:36:04,765
Deputy Comptroller of the Currency
for the Southern District.
1542
01:36:04,848 --> 01:36:08,101
The Dept. Treasury revoked
the Mainland license.
1543
01:36:08,185 --> 01:36:11,897
Your bank is in judicial recovery
in accordance with the National Bank Law.
1544
01:36:11,980 --> 01:36:13,899
This is Mr. Amos from the FDIC.
1545
01:36:14,316 --> 01:36:16,610
Mr. Steiner,
you are fired.
1546
01:36:16,693 --> 01:36:18,487
I'll have to escort you out.
1547
01:36:18,570 --> 01:36:20,531
Leave the ledgers
where they are.
1548
01:36:22,950 --> 01:36:24,159
Ladies and gentlemen,
1549
01:36:24,243 --> 01:36:28,288
the Dept. From the United States Treasury
closed this bank until further notice.
1550
01:36:28,372 --> 01:36:32,459
All deposits up to $10,000
are insured by the federal government.
1551
01:36:32,543 --> 01:36:36,380
After review by the FDIC,
they will have their money back.
1552
01:36:36,880 --> 01:36:38,799
The building is now
closed to the public.
1553
01:36:38,882 --> 01:36:40,968
We ask that everyone leave.
1554
01:36:46,682 --> 01:36:48,141
CLOSED
1555
01:36:50,644 --> 01:36:53,188
I'm sorry. I thought
that would save so much...
1556
01:36:53,272 --> 01:36:54,314
Get out of my sight.
1557
01:36:55,065 --> 01:36:57,192
- Bernard Garrett and Joseph Morris?
- Yes.
1558
01:36:57,276 --> 01:36:59,111
- FBI. They're trapped.
- For what?
1559
01:36:59,194 --> 01:37:00,279
Turn around, face the wall.
1560
01:37:00,362 --> 01:37:02,698
Why are they arresting us?
What did we do that was illegal?
1561
01:37:02,781 --> 01:37:03,949
- The judge will say.
- Screw him.
1562
01:37:04,032 --> 01:37:05,826
- Tell me what was illegal.
-Bernard.
1563
01:37:05,909 --> 01:37:07,160
- Why do you complain?
- I understood.
1564
01:37:07,244 --> 01:37:10,038
A nigga make money and everything
well, as long as it stays alone.
1565
01:37:10,122 --> 01:37:12,374
But if you try to help your brothers,
this is intolerable.
1566
01:37:12,457 --> 01:37:14,126
This is for real, sir. Garrett.
1567
01:37:14,209 --> 01:37:17,379
The question is, do you want to get hurt?
while you resist?
1568
01:37:18,255 --> 01:37:20,257
- Don't touch him!
- Bernard, no!
1569
01:37:25,262 --> 01:37:26,263
Walk.
1570
01:37:36,899 --> 01:37:40,068
The state charges
were all removed.
1571
01:37:40,152 --> 01:37:43,822
But the feds are still standing.
1572
01:37:44,656 --> 01:37:48,410
I feel that the issue
This is politics.
1573
01:37:48,785 --> 01:37:50,454
If we do everything right,
1574
01:37:50,954 --> 01:37:53,332
we can achieve
drop the charges.
1575
01:37:53,415 --> 01:37:54,499
Policies, how?
1576
01:37:55,334 --> 01:37:57,503
Senator John McClellan,
from Arkansas,
1577
01:37:57,586 --> 01:38:01,632
is holding hearings on
government-funded banks.
1578
01:38:01,715 --> 01:38:07,221
The goal appears to be to condemn the
so-called "loose supervision"
1579
01:38:07,304 --> 01:38:09,139
that our Treasury provides
1580
01:38:09,723 --> 01:38:13,685
to justify the increase
under the jurisdiction of his committee.
1581
01:38:13,769 --> 01:38:18,106
And with this guarantee a flow
campaign donations
1582
01:38:18,190 --> 01:38:20,734
and favor the banking sector.
1583
01:38:20,817 --> 01:38:22,819
But what does this have to do with me?
1584
01:38:22,903 --> 01:38:24,988
Want the version
official or the other?
1585
01:38:26,365 --> 01:38:27,366
The other.
1586
01:38:27,449 --> 01:38:29,243
"We have to change these laws."
1587
01:38:29,326 --> 01:38:30,619
And I mean, now!
1588
01:38:30,702 --> 01:38:35,290
"Or niggas like these can have banks
and lend money to other black people."
1589
01:38:35,374 --> 01:38:36,375
And that.
1590
01:38:37,376 --> 01:38:39,044
But on the bright side, Bernard,
1591
01:38:39,127 --> 01:38:42,881
and why we fit in so well
on the McClellan issue,
1592
01:38:43,382 --> 01:38:47,845
the whole country is talking about two
black people who bought two banks
1593
01:38:47,928 --> 01:38:52,057
full of white people's money
Texas and lent it to other black people.
1594
01:38:52,432 --> 01:38:55,769
I thought McClellan had been one of the
first to go against McCarthyism.
1595
01:38:55,853 --> 01:38:56,687
And it was.
1596
01:38:56,770 --> 01:38:58,856
Must be a decent man,
right?
1597
01:39:02,109 --> 01:39:06,196
You know, Bernard, I can't see
what goes on in a man's soul.
1598
01:39:07,406 --> 01:39:09,032
But one thing I know...
1599
01:39:09,616 --> 01:39:11,994
he wants to get somewhere
with audiences.
1600
01:39:12,077 --> 01:39:14,162
And if you want
help you get there,
1601
01:39:14,746 --> 01:39:19,710
I doubt you will have any problems
with any criminal charge.
1602
01:39:21,837 --> 01:39:23,547
And where does Matt stand in all of this?
1603
01:39:23,630 --> 01:39:26,341
That's a good question.
1604
01:39:35,475 --> 01:39:37,019
My lawyer doesn't want me here.
1605
01:39:38,020 --> 01:39:40,814
So he's not
defending you well.
1606
01:39:41,315 --> 01:39:44,026
So we can make a deal
that could save your life.
1607
01:39:44,109 --> 01:39:45,319
And what would that be like?
1608
01:39:46,570 --> 01:39:47,571
You will...
1609
01:39:48,155 --> 01:39:50,574
give me back my
money? My house?
1610
01:39:51,658 --> 01:39:52,868
It would be difficult.
1611
01:39:52,951 --> 01:39:55,037
But I can give you immunity.
1612
01:39:55,495 --> 01:39:57,623
And maybe you don't need it
be responsible
1613
01:39:58,248 --> 01:40:01,001
for lying to the public
in 23 separate situations
1614
01:40:01,084 --> 01:40:04,171
about the real owners
from Marlin and Mainland banks.
1615
01:40:05,172 --> 01:40:08,091
For evaluating loans
fraudulently.
1616
01:40:09,134 --> 01:40:13,263
Illegally transfer loans
between the banks in question.
1617
01:40:16,850 --> 01:40:18,101
It's easy to tell the story,
1618
01:40:18,894 --> 01:40:22,105
how these two
men manipulated you,
1619
01:40:23,190 --> 01:40:27,402
they used you to deceive the citizens,
saying you were the owner,
1620
01:40:27,486 --> 01:40:30,948
when they were actually two black people
doing everything from behind.
1621
01:40:32,908 --> 01:40:35,327
They didn't force me
to do what I did.
1622
01:40:36,286 --> 01:40:37,955
They were careful
to follow the law.
1623
01:40:38,038 --> 01:40:40,499
There is no evidence that
committed a crime.
1624
01:40:40,874 --> 01:40:42,793
That's the question
about banking crimes,
1625
01:40:43,794 --> 01:40:45,712
there is always a subjective aspect.
1626
01:40:46,797 --> 01:40:47,840
Now,
1627
01:40:48,465 --> 01:40:51,134
These two black guys won...
1628
01:40:52,886 --> 01:40:55,681
about 189,000, both together,
1629
01:40:56,682 --> 01:41:02,521
of the $971,000 in loans
which were in fact worth $663,000.
1630
01:41:02,604 --> 01:41:06,483
For me, it is inappropriate use
of bank funds.
1631
01:41:07,484 --> 01:41:09,152
And this inappropriate use is a crime.
1632
01:41:09,236 --> 01:41:10,737
It's more complicated than that.
1633
01:41:10,821 --> 01:41:12,406
I don't think so, Mr. Steiner.
1634
01:41:13,907 --> 01:41:17,703
Unless you say they didn't force you
buying those loans...
1635
01:41:19,705 --> 01:41:23,083
so they can charge the $
189,000 bank commission.
1636
01:41:25,794 --> 01:41:27,212
So maybe they are innocent
1637
01:41:28,964 --> 01:41:31,049
and maybe someone else
need to go to prison.
1638
01:41:39,057 --> 01:41:41,059
I'm sorry to have you
introduced Matt.
1639
01:41:41,143 --> 01:41:42,561
He didn't force me to hire him.
1640
01:41:43,061 --> 01:41:45,189
Joe warned me a million times.
1641
01:41:47,733 --> 01:41:49,526
I think I
I wanted to believe him.
1642
01:41:52,112 --> 01:41:55,490
I hope the owner of this house is
treating you well with the renovation
1643
01:41:58,493 --> 01:41:59,494
He's...
1644
01:42:01,205 --> 01:42:02,206
because I'm the owner.
1645
01:42:05,626 --> 01:42:06,627
AND.
1646
01:42:28,690 --> 01:42:31,777
Then it states that
was always guided
1647
01:42:31,860 --> 01:42:33,570
by Bernard
Garrett and Joe Morris.
1648
01:42:33,654 --> 01:42:34,780
Is it correct?
1649
01:42:38,450 --> 01:42:39,701
Yes, it is.
1650
01:42:40,619 --> 01:42:42,829
Have you ever refused an order
from Garrett or Morris?
1651
01:42:44,581 --> 01:42:48,752
For example, the initial purchase
of Marlin bank mortgages,
1652
01:42:49,545 --> 01:42:54,132
by which Garrett and Morris
received $189,000,
1653
01:42:55,008 --> 01:42:58,887
or the purchase of Banco Mainland
with increased prices
1654
01:42:59,805 --> 01:43:01,640
of mortgages
Marlin's problems?
1655
01:43:04,768 --> 01:43:07,646
They were my employers.
I did everything I was told.
1656
01:43:34,548 --> 01:43:36,967
CURRENT ANNUITY VALUE
1657
01:43:51,607 --> 01:43:53,817
I'm surprised you have
requested the meeting, Melvin.
1658
01:43:54,651 --> 01:43:57,404
My offer required a
simple answer, yes or no.
1659
01:43:57,487 --> 01:43:58,488
SENATOR MCCELLAN
1660
01:43:58,572 --> 01:44:00,908
Especially after Steiner
be so firm today.
1661
01:44:01,742 --> 01:44:03,869
John,
Bernard is not the type of man
1662
01:44:03,952 --> 01:44:06,705
who makes a deal
without checking every detail.
1663
01:44:08,624 --> 01:44:11,251
It seems to me that a large part
of his supposed defense
1664
01:44:11,335 --> 01:44:12,461
That's what you did.
1665
01:44:14,463 --> 01:44:17,424
Do you want me to check the
banking rules in my statement.
1666
01:44:17,841 --> 01:44:19,259
I want you to tell the truth.
1667
01:44:20,093 --> 01:44:21,720
Which would have this result, yes.
1668
01:44:23,472 --> 01:44:26,934
The rules allowed you to hide
your identity from the public
1669
01:44:27,017 --> 01:44:32,397
and took measures that led to the
two national banks fail,
1670
01:44:33,982 --> 01:44:37,778
putting the economy of
thousands of innocent customers.
1671
01:44:39,029 --> 01:44:40,906
We see the truth of
different ways.
1672
01:44:42,741 --> 01:44:44,034
Boy, I'm from Arkansas.
1673
01:44:44,660 --> 01:44:48,121
You don't need to tell me that the
Black people sometimes lose out.
1674
01:44:48,580 --> 01:44:49,706
"Sometimes."
1675
01:44:52,709 --> 01:44:54,169
We're not going to change that here.
1676
01:44:56,380 --> 01:44:59,633
The truth is, no matter
the obstacles they placed,
1677
01:44:59,716 --> 01:45:02,219
remained discreet,
did what he had to do
1678
01:45:02,594 --> 01:45:06,265
and became one of the blacks
richest in the country.
1679
01:45:10,352 --> 01:45:12,187
I was living the American dream
1680
01:45:14,398 --> 01:45:19,444
before deciding to disturb
the social order in Texas.
1681
01:45:21,572 --> 01:45:22,948
There may be a lesson there.
1682
01:45:23,657 --> 01:45:24,741
You have a choice.
1683
01:45:26,827 --> 01:45:28,704
Accept the immunity agreement.
1684
01:45:28,787 --> 01:45:32,457
Go there and confirm
what Steiner just said,
1685
01:45:32,541 --> 01:45:37,880
that you took advantage of
lax rules to get rich.
1686
01:45:38,839 --> 01:45:42,092
And let Congress adjust these
norms, and be a free man.
1687
01:45:43,177 --> 01:45:45,762
Or you can refuse the deal...
1688
01:45:46,847 --> 01:45:48,015
and say whatever you want.
1689
01:45:50,184 --> 01:45:51,185
But know,
1690
01:45:52,728 --> 01:45:58,400
after talking about racism
and the suffering of black people,
1691
01:45:58,483 --> 01:46:01,195
let's compare your testimony,
point to point
1692
01:46:01,278 --> 01:46:03,322
with what we hear
by Steiner and Florance,
1693
01:46:03,405 --> 01:46:05,157
and a lot of others
white people.
1694
01:46:05,240 --> 01:46:08,994
Thank God for the Constitution
does not make that kind of distinction.
1695
01:46:10,120 --> 01:46:11,914
Well, in the end,
1696
01:46:11,997 --> 01:46:14,124
there will be a decision
of a court
1697
01:46:14,208 --> 01:46:15,876
about who you are
telling the truth...
1698
01:46:16,919 --> 01:46:17,920
and who is lying.
1699
01:46:19,505 --> 01:46:21,006
And the liars will be arrested.
1700
01:46:25,761 --> 01:46:27,763
It's beautiful from the outside.
1701
01:46:31,767 --> 01:46:32,893
I think I was right.
1702
01:46:33,685 --> 01:46:36,813
It was too soon for two niggas
have a bank in Texas.
1703
01:46:38,398 --> 01:46:39,399
Could it be.
1704
01:46:39,983 --> 01:46:41,985
Or maybe it was right
do this now.
1705
01:46:44,238 --> 01:46:45,322
Why?
1706
01:46:47,783 --> 01:46:48,992
See where it ended up.
1707
01:46:51,620 --> 01:46:54,331
White people buy houses
and build companies
1708
01:46:54,414 --> 01:46:56,083
because the banks
give them money.
1709
01:46:57,376 --> 01:46:58,669
Black people can't do that.
1710
01:46:58,752 --> 01:47:01,755
Maybe it's time for someone
draw attention to this,
1711
01:47:02,339 --> 01:47:04,007
so things can change.
1712
01:47:05,259 --> 01:47:09,012
If I attract too much attention,
McClellan will take away my immunity.
1713
01:47:12,099 --> 01:47:13,809
What do you think I should do there?
1714
01:47:15,853 --> 01:47:18,021
I was called crazy
when I married you.
1715
01:47:20,232 --> 01:47:22,776
You always thought differently
from everyone.
1716
01:47:24,403 --> 01:47:26,738
That's why I
I fell in love with you, Bernard.
1717
01:47:27,906 --> 01:47:31,702
And that won't change, no
It doesn't matter what you decide to do there.
1718
01:47:45,132 --> 01:47:46,842
Can you give me a minute?
1719
01:47:50,554 --> 01:47:52,806
I must be jealous because
Will you testify first?
1720
01:47:52,890 --> 01:47:53,974
No, man.
1721
01:47:54,808 --> 01:47:57,895
I'll just be the warm-up for the
criminal genius that will come later.
1722
01:47:59,146 --> 01:48:00,898
They will be very disappointed
1723
01:48:00,981 --> 01:48:02,983
because I intend to put
the blame is all on you.
1724
01:48:03,066 --> 01:48:05,152
Drug. That was the
my plan too.
1725
01:48:07,529 --> 01:48:09,406
He knows,
when I first saw you,
1726
01:48:09,489 --> 01:48:12,951
I thought he was a square black guy,
ironed,
1727
01:48:13,035 --> 01:48:15,329
who didn't understand white people
or who it was,
1728
01:48:15,412 --> 01:48:17,039
even if it was in your face.
1729
01:48:18,332 --> 01:48:20,292
I'm glad I gave this
first impression.
1730
01:48:21,835 --> 01:48:22,836
But in fact,
1731
01:48:23,754 --> 01:48:25,589
You're a fucking revolutionary.
1732
01:48:27,049 --> 01:48:28,634
You know, when I met you,
1733
01:48:29,426 --> 01:48:32,012
I thought it was a
spoiled little plaiboi.
1734
01:48:34,056 --> 01:48:35,098
Dude,
1735
01:48:36,558 --> 01:48:40,145
you understood things
much earlier than me.
1736
01:48:41,647 --> 01:48:42,731
Including me,
1737
01:48:45,692 --> 01:48:47,110
right after you met me.
1738
01:49:16,056 --> 01:49:18,517
The committee calls
Bernard S. Garrett to testify.
1739
01:49:22,771 --> 01:49:25,107
Do you have his glasses?
He doesn't have glasses.
1740
01:49:25,190 --> 01:49:26,358
He doesn't need them.
1741
01:49:26,859 --> 01:49:28,569
He has to read your statement.
1742
01:49:29,069 --> 01:49:31,864
He doesn't need
glasses. Never needed it.
1743
01:49:34,449 --> 01:49:37,494
Mr. Garrett,
I think you know how it works.
1744
01:49:41,915 --> 01:49:43,250
Let's hear your statement.
1745
01:49:44,835 --> 01:49:45,919
Mr. President.
1746
01:49:46,795 --> 01:49:51,675
The country's founding documents say
"all men are created equal"
1747
01:49:52,301 --> 01:49:54,052
and wish to create a society
1748
01:49:54,136 --> 01:49:57,264
where citizens receive
equal protection of our laws.
1749
01:49:57,931 --> 01:49:59,057
It's a noble goal.
1750
01:50:00,058 --> 01:50:03,604
But we all know that
for many citizens it is a lie.
1751
01:50:05,814 --> 01:50:07,232
This hearing should address
1752
01:50:07,316 --> 01:50:12,863
to reveal and reform
unsafe banking practices.
1753
01:50:13,697 --> 01:50:14,907
But I think it's
1754
01:50:14,990 --> 01:50:19,912
of knowing how two black men
They bought a bank in Texas.
1755
01:50:19,995 --> 01:50:23,457
Mr. Garrett, I think you should
go carefully.
1756
01:50:25,083 --> 01:50:27,044
I could
expand on this.
1757
01:50:27,669 --> 01:50:30,839
Or you could just sum it up like this.
1758
01:50:33,800 --> 01:50:34,800
How to dress.
1759
01:50:35,344 --> 01:50:37,137
Mr. Garrett,
is being inappropriate.
1760
01:50:37,221 --> 01:50:38,639
- I didn't finish.
- Inadequate.
1761
01:50:38,722 --> 01:50:41,558
Without a loan you cannot
can buy a house.
1762
01:50:41,642 --> 01:50:42,684
Nor opening a company.
1763
01:50:42,768 --> 01:50:44,269
Mr. Garrett, you have already been warned.
1764
01:50:44,353 --> 01:50:46,980
- In other words, you cannot have wealth.
- Mr. Garrett!
1765
01:50:47,064 --> 01:50:48,982
And it is excluded from
American dream.
1766
01:50:49,066 --> 01:50:50,692
Officer, take the witness.
1767
01:50:50,776 --> 01:50:55,030
Why is it so important for
you exclude an entire race
1768
01:50:55,113 --> 01:50:56,657
of the American dream?
1769
01:51:11,880 --> 01:51:15,175
BERNARD GARRETT AND JOE MORRIS
THEY SAW THEIR FORTUNE BEING DECIMATED
1770
01:51:15,259 --> 01:51:18,428
WHEN THE FEDERAL GOVERNMENT
CONFISCATED YOUR ASSET
1771
01:51:18,512 --> 01:51:21,682
AFTER THE MCCLELLAN HEARING.
1772
01:51:22,432 --> 01:51:25,853
IN 1965,
A JURY COMPOSED OF WHITE PEOPLE
1773
01:51:25,936 --> 01:51:29,273
CONVICTED THEM FOR APPROPRIATION
DEBIT OF BANK FUNDS
1774
01:51:29,356 --> 01:51:32,276
AND SENTENCED THEM TO THREE YEARS
IN THE FEDERAL PENITENTIARY.
1775
01:51:34,278 --> 01:51:38,156
OF THE 177 PROPERTY BUILDINGS
BY GARRETT AND MORRIS,
1776
01:51:38,240 --> 01:51:41,493
EUNICE GOT IT
KEEP ONLY ONE,
1777
01:51:41,577 --> 01:51:44,538
BECAUSE THE SCRIPTURE
IT WAS IN HIS NAME.
1778
01:51:46,707 --> 01:51:49,084
ROBERT FLORANCE JR. BOUGHT
THE MAINLAND BANK
1779
01:51:49,168 --> 01:51:51,295
IN THE SALE ORGANIZED BY THE FDIC
1780
01:51:51,378 --> 01:51:53,005
FOR A FRACTION OF THE PRICE
1781
01:51:53,088 --> 01:51:55,424
WHAT BERNARD AND JOE PAID
TO FLORANCE'S FATHER FOR HIM.
1782
01:51:58,010 --> 01:52:00,220
RESTRICTED AREA WARNING
1783
01:52:15,777 --> 01:52:17,654
Of course they would
let go before me.
1784
01:52:17,738 --> 01:52:19,948
They couldn't wait
to get rid of me.
1785
01:52:25,412 --> 01:52:26,622
Let's go home.
1786
01:52:28,498 --> 01:52:29,791
They took them all, remember?
1787
01:52:29,875 --> 01:52:31,126
Then somewhere.
1788
01:52:34,630 --> 01:52:36,048
What are you laughing at?
1789
01:52:36,131 --> 01:52:37,382
They didn't get everything.
1790
01:52:37,466 --> 01:52:40,219
They didn't get both
that we bought, glued together,
1791
01:52:40,302 --> 01:52:41,303
in the Bahamas.
1792
01:52:41,386 --> 01:52:42,386
What?
1793
01:52:43,514 --> 01:52:44,973
Bernard, how did you do that?
1794
01:52:47,601 --> 01:52:49,978
Matt called in the night
before your testimony.
1795
01:52:51,313 --> 01:52:52,606
He was finished.
1796
01:53:01,740 --> 01:53:02,741
Hello?
1797
01:53:03,367 --> 01:53:04,368
It's Matt.
1798
01:53:06,620 --> 01:53:07,621
We can talk?
1799
01:53:08,872 --> 01:53:11,416
He said he could get it
50 years in prison
1800
01:53:11,500 --> 01:53:13,710
if I didn't say
what they wanted you to say.
1801
01:53:15,295 --> 01:53:17,297
I told you to do
what I had to do,
1802
01:53:18,841 --> 01:53:21,552
but as the government still
wouldn't take all our money,
1803
01:53:25,639 --> 01:53:27,140
I asked you to do me a favor.
1804
01:53:51,623 --> 01:53:54,960
BERNARD AND JOE STARTED TO
REBUILD YOUR FORTUNE IN THE BAHAMAS,
1805
01:53:55,043 --> 01:53:57,921
BEFORE THEY COME BACK
FOR THE UNITED STATES.
1806
01:53:59,256 --> 01:54:03,135
THE HUNDREDS OF BUILDINGS THEY PURCHASED
IN "WHITE ONLY" NEIGHBORHOODS
1807
01:54:03,218 --> 01:54:05,429
THEY MADE THEM ESSENTIAL
1808
01:54:05,512 --> 01:54:08,307
IN THE FIGHT AGAINST SEGREGATION
HOUSING IN LOS ANGELES.
1809
01:54:09,558 --> 01:54:12,227
THREE YEARS AFTER HIS STATEMENT
BEFORE THE SENATE,
1810
01:54:12,311 --> 01:54:14,563
CONGRESS APPROVED IN 1968
THE FAIR HOUSING ACT
1811
01:54:14,646 --> 01:54:17,399
WHICH MADE IT ILLEGAL TO REFUSE
SELLING OR RENT PROPERTY
1812
01:54:17,482 --> 01:54:19,568
BASED ON RACE,
RELIGION OR GENDER.
1813
01:55:26,426 --> 01:55:29,972
PLANTATION CLUB, BY JOE MORRIS,
"LARGEST HARLEM NIGHTCLUB IN CALIFORNIA"
1814
01:55:51,243 --> 01:55:53,453
THIS TRACK IS
EXCLUSIVE AND RESTRICTED
1815
01:56:17,853 --> 01:56:24,484
TO K.C.
1816
01:56:24,485 --> 01:56:26,485