Original subtitles

IRA a dollar-franc.

Four-ninety-eight, 40, 60.

The market's going against us. We're exposed on the 100 million.

- We're gonna have to bail out. - We'll take a whopping loss.

We can't buck the tide any longer.

Let me know the damage when you've finished.

- Hold the phones! - Hold on.

Okay, no arguments. Everybody cover their short-currency positions.

Buy yen, sterling, francs, marks.

Sell dollars.

We've got 100 million to dump.

No haggling over prices.

- Dollar's off. - How much?

Two percent against the mark in 20 minutes.

It started in Frankfurt.

No. I think you'll find it started about 10 blocks from here.

At Borough National, as a matter of fact. They're in trouble.

Bailing out of their long-dollar position. Dumping about 100 million.

Keep talking. Let me know if it slides further...

...or hits the next big number.

Frankfurt? Borough National New York. A dollar-deutsche mark.

Would you like...? Can you make me a market of spot francs?

- Give me another market! - Another Geneva for 30-60. Want it?

- Sell eight at 30! - Two, two at 20.

Hello, Bern National. Yeah, how do you trade in French?

- What's your spot on yen? - Take two!

- Three. - You'll only do three?

- Five million. - We want sterling.

- Four. - Good.

- What's the dollar-yen, please? - Five at 75.

- Make it two. That's four. - Okay.

- Take it. - Four done.

- Do you want it? Forty-60! - Sell five at 40.

- They'll only take two! - Take the lousy two!

- All right, that's just one! - I love you too. You're beautiful.

How about four? All right, two.

- Help me out. - What do you mean there's no market?

It's coming? So is Christmas.

I can't get Bern! They're closed for the day!

- We look like we're having trouble. - Europe and the Street...

...know we're dumping. The dollar's dropping like a rock.

All right, we'd better go in. Long on dollars. Start with Paris.

And tell Borough National they can have 40 mil on Interbank.

We're going to have to find someone to ride shotgun over there.

I'm not taking this roller coaster again.

Earlier this week, the dollar slipped 50 points.

It recovered. But a lot of people say things are going to get worse...

...before they get better.

Others in the banking community say it was just a flutter.

But if there's one thing all of us worry about, it's money. Our money.

In this case, of course, the dollar.

Here tonight to discuss the dollar is Maxwell Emery...

...president of The First New York Bank.

Mr. Emery has sometimes been called the lion of American banking.

The dollar's been under pressure so frequently in our history.

I don't think these times are exceptional.

We go through regular cycles of anxiety. In fact, we're an anxiety-prone people.

But we've never had anxiety with so much reason behind it.

Since 1974, when the Arabs started increasing the price of oil...

...they've amassed billions of dollars.

Until now, they've been very kind to leave that money largely in American banks.

Mr. Emery, has there ever been such a concentration of wealth...

...in the hands of one group before?

No, I think probably not.

But I assure you, their interests are ours.

Have a good time.

Thank you.

- Wonderful party. - Charlie will be by later.

- He's working late at the office. - See you then.

Enjoy yourself.

Want an educated opinion?

You won't get a glamour boy like Hubbell Smith to run a rescue operation over there.

He won't touch it with a fork.

He might. If the payoff is big enough.

Could I have a white wine and a Scotch on the rocks, please?

Well, Max, I hear you rode in on your white horse...

...and bailed out Borough National.

Well, that fellow down there is trying, but he's overmatched.

I feel sorry for the poor son of a bitch who tries to fix that mess.

I said I'd help them but only if they'd take my boy.

Wanna hear the deal?

I don't know, Max. I did my time in the trenches...

...when I was running those problem loans for you.

I had enough crash-and-burn.

Hub...

...I'd consider it a personal favor.

With those turkeys at Borough National, miracle is a better word.

Now, why do you piss cold water on it when you know you're interested?

What makes you so sure?

The guy who turns them round is going to be hero of the week.

And we both know that you're restless, ambitious...

...and a sucker for a chance at a star play.

- That's the spirit that built the West. - Has either one of you seen Lee Winters?

Last time I saw her she was over by the band.

Something wrong?

Charlie Winters has been murdered.

A mugger broke into his office and knifed him.

Oh, my God.

Isn't it?

I love the way he plays too. Don't you?

- Hello, Bill. - Lee, could I talk to you alone?

- Would you excuse us? - Certainly.

What is it, Hub?

Nothing.

I was just thinking about the illusion of safety.

- Yes. - You were inquiring about Charlie Winters...

...the other day. I'm sorry to have to tell you that he's dead.

I was struck by the coincidence.

Charles Winters. I'm sorry to hear about that.

I'm sorry to hear about it too.

I just wanted you to be aware.

Good night.

Police have concluded Charles Winters was murdered by a burglar...

...who panicked when Winters, who was working late, surprised him.

No other motivations for his murder have been found.

At his funeral yesterday in New York, his widow, ex-film star Lee Winters...

...was accompanied by leading members of the corporate and financial world.

So Lee Winters, the poor girl who came out of the dirt hills of Arkansas...

...to achieve stardom as the glamorous Ashley Norman...

...one of Hollywood's most respected actresses...

...who, at the height of her career, gave it up to become the wife...

...of a great American industrialist...

...played today her toughest role: Where to go from here.

There are rumors that things aren't what they were...

...in the troubled petrochemical empire built by Winters...

...now facing the critical question of who will become its next chairman.

And now in a...

Don't take too long. Hurry back down.

- Gaby, did you take my book? - What book?

Well, Paris, we're seeing some pressure out of Zurich.

Eleven's ringing. Who's on 11?

But we think it's topping out.

We're all atwitter. Let me have your dollar-franc, please.

The question is, is he ready for us?

I've had a balance sheet worked up...

...and a summary of assets. Is there anything else you might need?

Oh, nothing special. Your interim financials maybe.

Something showing your cash position, loan position, deposits.

Also a P & L statement, if you've got one.

The maturity schedules on your commercial paper. Classifications on your loan portfolio.

Maybe the last examiner's report.

Oh, and your current profit breakdown.

You sure that'll be enough?

For a start.

Cheers.

Well, doctor, you've been on the case for a while now. What's the prognosis?

Will the patient live?

The patient's been dead for six months and doesn't know it.

Come on, now. It's not that bad.

No?

Roy, I salute you.

Borough National's your masterpiece.

Well, we may have to tighten our belt.

Try it around your neck.

Okay.

- I'll call Emery. You can bail out. - No, I took this trip without a parachute.

- This is when the fun begins. - Smith, this is not some sort of game.

Yes, it is. That's exactly what it is.

You keep talking about a system, Roy. That's your problem.

You can't beat the system, but you can win a game.

- How? - First, we have to find a way...

...to get some profit in here now.

Just 3 or 4 million...

...so we can meet that dividend and give ourselves a little time to breathe.

A nice, hungry customer so we can give him a big, fat loan.

Say, a couple 100 million.

- Collect the commission. - Where are we gonna get the money?

I'll find the money. What we need right now is a customer.

We really need a company even more in the shithouse than we are.

If that's possible.

Sit down, Roy.

Talk to me about the Winterchem Petrochemical Corporation.

We're loaned out to them to the legal limit.

No matter how hungry they are, we can't give them a thing.

Not even lunch?

I'll start with what you're dying to hear.

We don't need to borrow another dime.

Well, I don't know what to say.

All we have to do is scale down a little.

Think in more modest terms, and we should weather the storm.

I don't think it makes any sense at all.

This is wrong. You can't cut back on this company and expect it to ever grow again.

The replacement cost would be astronomical.

We're grateful for your interest in Winterchem.

All the public relations you've put in for the company.

And I know how you must feel, especially now that Charlie's gone.

Henry, don't patronize me.

You know where we went wrong. We let the competition walk away with the technology.

Instead of cutting, we must invest in R & D.

Keep the plants going until new products are developed.

- Financed how? - We'll just get ourselves a moneymaker.

There's a small petrochemical plant in Spain at Valencia.

They're in place. Their balance sheet looks real good.

And they're for sale. We'd have to invest in some updating and a sure feedstock.

If we get it, we'll be buying ourselves a real cash-flow machine.

I hear you, but that kind of capital is simply not available.

Sorry, good people. I'm running late.

Roy, fill me in on the rest of this later.

Ms. Winters.

- Henry. - Delighted to have met you.

- Warner. - Good to see you.

That's a hell of a fella. I think we're gonna enjoy working with him.

Let me speak with Lee Winters, please. She's at the far corner table.

Lee, you're gonna be opening the Palm Beach house soon?

Sorry, Mrs. Winters, a call for you.

Thank you. Excuse me, I'm sorry.

Yes, this is Mrs. Winters.

How good are you at keeping a straight face?

Because your Valencia deal happens to be full of holes.

Helen, I can't talk now. I'm at a luncheon meeting.

- Lf you have some messages... - Try this on Helen.

Number one, what about currency translation?

A Spanish plant has peseta obligations. If the peseta goes up...

...your dollar earnings won't be worth a plate of frijoles.

Two, how about labor stability?

Half the country's busy slipping bombs in the pockets of the other half.

Three, Winterchem's tapped out with us at Borough National.

How do you figure to fund the acquisition?

I see.

Is that all, Helen?

Sorry, but I didn't wanna embarrass you in front of Tweedledum and Tweedledee...

...since it's obvious that you wanna be the new chairman of the board.

No, absolutely not. Would you tell him I'm out of town, please?

I'm sorry. Some people just don't understand business.

Absolutely. Of course we're gonna show a profit.

One, their currency may be unstable, but they have to sell in international markets...

...so our dollar wouldn't be affected.

Two, the Spanish labor market happens to be relatively strike-free...

...which you would have known if you'd bothered to check, as I did.

Three, there are other banks that recognize a sound investment when they see one.

As for that "chairman of the board" remark...

...Mr. Smith, I don't know what you're talking about.

How much stock did you say her husband left her?

You were saying?

I thought we ought to have a drink on it.

On what exactly?

Your future at Winterchem.

Scotch, if you don't mind, with a twist.

Mr. Smith, you must have me confused with an executive.

They tolerated me on the board because of Charlie.

But now that he's gone, I'm just an ex-movie star coasting into the sunset.

Not someone throwing them a curve ball at lunch...

...about a Spanish petrochemical plant.

I'd say you coast pretty good.

Where'd you learn the moves?

Charlie involved me a lot in the business.

And when I was an actress, I had my own company.

I made my own deals. Charlie always says I have...

Charlie used to say I had good instincts.

Well, we're playing the classic scene, aren't we?

The banker and the widow.

I'm sorry. I guess this is all too soon.

Of course it's too soon. Everything's too soon, isn't it?

The company's in trouble too soon. Charlie died too soon.

So what?

It'd be funny, wouldn't it?

If the banker helped the widow walk off with the chairmanship.

Hilarious.

You mind telling me how?

- Your Valencia deal. - I thought you said it was full of holes.

I thought you said you didn't wanna be chairman.

Too bad because Ackerman's just blowing smoke...

...about all this so-called support. Nobody really wants to sell off.

Nobody wants to be on the board of a shrinking company.

You nail that deal, you have a real shot.

Providing they took me seriously.

Come up with the 500 million to buy that plant, and they'll take you seriously.

All you need is the okay from Ackerman to go after it.

And I'm in a position to put you together with the money.

There are risks involved.

I've never been afraid of risks.

That was Scotch with a twist.

For one thing, I'm not gonna get the okay.

Aren't you the man that told me Winterchem...

...was borrowed out with the bank?

I'm the man.

- Where's the money supposed to come from? - Private placement. Outside source.

- Direct? - Through an agent I know.

We'd have to negotiate with his people.

Probably be a joint venture if they put up the capital and share the profits.

And the bank collects 1 percent for setting it up.

On 500 million, that's 5 million profit. No risk to you.

You have a very profitable sense of humor, Mr. Smith.

You wouldn't deny me a little incentive, would you?

No.

Was that on the rocks or straight up?

Of course, we do have to handle her very carefully.

Yes. She is sitting on the largest block of company stock.

If she sells her stock to some outfit, we could all be out on our collective ass.

I say to hell with her damn stock.

What's she gonna do, unload 600,000 shares? That's her meal ticket.

This isn't The Washington Post, and she's not Katherine Graham.

And I'll tell you, that woman is not going to negotiate any deals for this management.

Ever.

Would you ask Mrs. Winters to come in, please?

Next thing she'll want to be chairman of the board.

Now, Lee, we want you to know you'll always have a home at Winterchem.

Remember, we'll always be happy to hear any suggestions you might have.

- Mr. Ackerman, please. - One moment, please.

- At least we didn't overestimate him. - Hello.

- Warner, this is Hub. - Hi, what's up?

Nothing special. I just thought it was time we sat down...

...and had a talk about rescheduling your loans.

- Maybe lunch next week? - How about Thursday?

Right, fine.

By the way, I had a talk with that Japanese conglomerate...

...that's buying up every company in sight. - Did you?

Yeah, Shigemitsu-Han.

They wanted to talk about the Winterchem financials.

Of course, I wouldn't, but I thought you ought to know.

No problem. They tried to take us over last year...

...but couldn't get enough stock.

Well, in that case, we can all relax.

So where do you guys like to eat?

How about the Bibliotheque next Thursday at 1?

- Thursday at 1, right. - See you then.

I can't wait to see their faces when they think I'm gonna sell my stock.

- Hello. - Helen.

Would you contact Shigemitsu-Han and ask if we can have lunch Thursday at 1.

Thursday at 1.

Hi, Lee.

So she won't sell her stock, huh?

Good move, Warner.

Well, I'm starved. How about you guys?

- I could use a drink. - So could I.

How did I do?

Ackerman didn't eat a bite.

- How long do we have to wait? - As long as it takes.

- Lf it takes. - Patience, patience.

They have to huddle first.

Look unconcerned, get back to the office and argue a little bit.

They're probably flipping a coin right now to see who has to make the call.

Yeah.

Right, put him on.

Guess who lost.

Hey, Warner, long time no see.

Hi. Listen, Hub, I know you'll think I'm nuts...

...but we may let Lee Winters check out the financing on that Spanish thing after all.

She's got an idea she can find the 500 million somewhere privately.

She'll probably give away the family jewels to get it.

Would it make you happier if I kept an eye on her for you?

Jesus, could you? That would be really terrific.

- We don't want to look like total idiots. - Consider it done.

Hub, I want you to know we'll always be grateful.

Just your friendly neighborhood banker.

They'll always be grateful.

We're not there yet.

You still have to meet the agent for the 500 million tonight at Emery's.

Any ideas on how I should handle it?

Straightforward.

We've got nothing to hide.

Do we?

Please, Ms. Winters, excuse me. I know this isn't the time or place...

...but did your husband ever mention Jerry Fewster?

There's someone named Fewster. Did your husband ever mention anything about him?

In what connection?

- You mean he didn't? - I don't know. What was it about?

No, if he didn't mention it, that's fine. It's fine.

- What did you say the name was? - No, it doesn't matter.

I'm sorry I bothered you.

- Excuse me, does he work here? - You mean Mr. Fewster?

He's one of the federal bank examiners who come in.

He's very nervous.

I don't believe Mr. Winters told her anything.

She looked right at me. She didn't know what I was talking about.

That's my train.

Well, if you hear from her again, we expect to hear from you.

Okay?

Not gonna eat your hot dog, huh?

- Well, here they are. - Oh, Hub.

- I was concerned. - Courtney, I'm sorry we're late.

- You know Lee Winters? - Good evening. Lovely to have you.

Would you take her down by Max?

- Good evening. - Good evening.

- Sorry we're late. - Don't worry about it. So glad you're here.

- Hello, Hub. - Sorry, Max, got caught in traffic.

Lee, I'd like you to meet Sal Naftari.

How do you do, Mr. Naftari?

Mrs. Winters, at last. I was beginning to be afraid I might not get to meet you.

For a few seconds there, I had doubts myself.

But I can't tell you how happy I am that we made it.

Oh, Mrs. Winters, I was just telling Max before you came...

...that I've just come back from Paris. The state of the dollar is in crisis.

I don't know what you naughty bankers are gonna do to us next.

Do you know that I couldn't buy a single thing?

It's awful. I'm gonna have to wear American clothes all summer.

- Two percent. - Not this time.

Okay, 2 and a half.

Eight.

Eight? Why 8?

It's a woman. Makes it tougher.

Hub, get it out of your head. I've got a lock on this.

These people are unpredictable. They make up their own minds.

I'm only the agent. I can only make the introductions.

The rest is up to you.

If my deal is too rich, you're always welcome to try it on your own.

- Okay, 8. - Plus a fee of 300,000 for contingencies.

- Such as? - Lf I knew, they wouldn't be contingencies.

I'll get right on it, providing, of course, that's acceptable.

Also, she'll have to travel.

They'll want a meeting.

- We welcome you. - Thank you, Khalid.

We're glad to be here. My associate, Mrs. Winters.

- How do you do? - Mrs. Winters, welcome. Please.

Come.

I believe you know my father, Ahmed.

Of course.

He thanks you for honoring us with your visit.

Not at all. You honor us with the invitation.

And Mrs. Winters.

How do you do?

I feel like a beggar asking them for alms, and I hate it.

You and the rest of the world.

I thought we had an appointment.

This is an appointment.

Mrs. Winters, please.

Hub, good to see you.

To begin with, I'm sure you will be pleased to hear we have decided to make the loan.

But first, I think it best to go over this...

...to make sure we are clear on the main points.

Point one...

...the sum is to be 500 million, of course, for the plant in Valencia...

...the money to be drawn in units of 50 million.

At times to be negotiated.

Yes, of course.

Point two, Winterchem to hold title...

...but profits to be shared on an equal basis.

Point three, Mrs. Winters' stock will stand as security...

...for the entire transaction.

- Point four... - Excuse me.

That means if something happens, I lose all my stock.

Mrs. Winters...

...I should tell you there are those in the family...

...who do not think we should be making this offer at all.

I assume if you could've found venture capital of this sort...

...for a company like Winterchem in America...

...you would not be coming all the way to Arabia looking for it.

If you are able to arrange better terms elsewhere, you are free to do so.

Shall I continue?

Point four...

...after repayment of the principal has been completed...

...all interest payments must be made by the 15th day of each month.

If we're ever cash short when a payment comes due, I could lose the whole company.

Don't worry. We'll cover you on that.

The bank will cover you.

I don't like the risk.

I guess it depends on how bad you wanna be the chairman.

Well, I guess I should call the cockpit.

Have them radio the office with the gory details.

Hey, that can wait.

This can't.

You're really ticked off about the deal, aren't you?

I'm sorry.

I just don't...

I don't like being dependent, that's all.

I was never dependent on any one studio.

I didn't depend on Charlie.

And if anything goes wrong, I don't like being dependent on Borough National.

You mean me.

Here.

If you can't live with the deal, forget it.

Tell New York the terms are unacceptable.

I warn you, I'm a problem.

I'm a bad person when I get in a corner.

Fine. If you get in a corner, tell me to go to hell.

In business, that's the ground rules.

But if you think the only thing we've been doing together is business...

...one of us is a fool.

Would you radio Winterchem in New York, please?

Tell them we've come to terms on the whole package.

Well, you got your deal. You got what you want.

You don't know the first goddamn thing I want.

It's not the deal.

The world's full of deals.

A partner's somewhat more rare.

I'm still not sure I trust you, you know.

That's a perfect basis for a partnership.

Thirty thousand.

Just bumped him out of 20 million.

I thought you ought to see that.

They just want us to hold it? Not roll it over?

Doesn't make sense.

They'll lose a ton of interest if they don't re-deposit that money.

Must be a mistake. Ask them to send it again.

You got it.

By the way, how much is the deposit for?

Altogether, 95 million.

Rebecca, let's get a confirmation on that.

Let me have the maturity schedules...

...on those Saudi Eurodollar deposits we're holding.

The ones that are due now or all of them?

- The works. - What's going on?

Nineteen deposits worth 5 million each are due...

...and the Saudis didn't give us disposition instructions.

You got 23 more maturing in the next three weeks...

...which is 210 million we're gonna have to come up with...

...if they decide not to roll over. - Two hundred and ten million?

That's practically every cent we carry. It'll clean us out.

They can't let that money sit without earning interest.

Even the Arabs aren't that rich.

Maybe they'll advise us through their London affiliate, I hope.

Forty-60, anything there?

If you wait five minutes, I'll have an answer.

That yen deal we lost, who was the customer, and why did we lose it?

Hapsas Oil. First New York must have wanted the trade badly.

They bid one point over market.

Mr. Naftari returning your call.

- Put him on. I got five minutes to kill. - Yes, sir.

I don't know. Some guys will go anywhere to find a topless beach.

Hey, Sal, how's Monte Carlo, you turkey?

- Not bad. Something on your mind? - No, nothing special...

...except your friend Dawasir doesn't seem to have both his oars in the water.

What's going on?

They got a couple of Eurodollar deposits maturing. No big deal.

But they're just letting them sit.

You happen to know anything about it?

Nobody's talked to me. I haven't heard a word.

Well, Europe's gonna start closing in a few minutes.

They work through London and Zurich, and the interest they're losing...

Well, what about it?

Hub, you got a problem?

Hey, listen, if it's okay with them, it's just fine with me. What do I care?

Then there's no problem?

Yeah, kid, talk to you.

Shit.

He said you don't seem to have both of your oars in the water.

You cannot pull $95 million in one chunk...

...from a bank the size of Borough National.

When I undertook to manage this plan...

...you agreed to do it gradually in small amounts.

You're now starting to move billions in a matter of weeks.

The world economic situation is deteriorating...

...more rapidly than we had thought.

We don't think we can afford to wait, Max.

There will be no collapse in the foreseeable future unless you panic...

...and start it with some damn fool move like this.

And if you are wrong, what then?

We wake up one morning, our oil is gone.

We find we have sold all we have in exchange for paper money that is worthless.

You're risking immediate exposure.

We risk it every day.

If Charles Winters could stumble on that account...

...it's just a question of time before someone else finds out.

- And when that happens... - No one else will find out...

...if you revert to your original timetable.

All right, Max.

We'll think about it.

But I'm not sure what our answer will be.

You're playing with the end of the world, you know.

The end of the world as you know it.

Europe's closing.

You're on your own. No dispositions.

I don't want anyone playing hero.

- Give me the FYCB. - Okay, let's hedge ourselves.

Cover at least half the amount of the deposits for one day.

First New York and Morgan, 24 million each.

Morgan, this is Borough National.

First New York, let me have your Fed Funds desk.

Listen, we got room for 24, 25.

- Right. - No problem, get back to you.

- Morgan's tight today. - First New York's dry.

Come back tomorrow if we have a problem.

This could be a real situation here, Europe closing down.

If we can't find the cash to cover those Eurodollar deposits we're shit out of luck.

Okay, try Boston and Chase, but that's it.

Let's not blow it all over the street. As long as nobody else knows...

Now what the hell is that?

Dollar's dropping.

Dropping? It's going through the basement, for chrissake. Why?

Hey, Hub, it's Paris. They heard some big Arab money is pulling out here.

- They're gonna start shorting dollars. - They're nuts.

Negative. Kill those calls to Boston and Chase.

- That's what they said. - Tell them we're buying.

- We're buying? - Tell them.

Dollar dropping fast against marks and yen.

Add sterling and guilders to that.

Okay, just button up. No more calls go out of here until I tell you.

You better call your mama, both of you. You're gonna be late for supper.

Vince, this is Gil. I'm bottom-fishing. You got any ideas?

No, no, nothing definite.

I wanted to flag it at the Fed just in case.

- Hang up. - No, not much.

Maybe 100 mil or so.

Hang up that phone, Roy, or so help me God, I'll tear it out of the wall.

Sorry, I'm getting a little static here. I'll be back to you.

Look, Smith, you can save the dramatics for some other time.

Are you crazy? Are you right out of your fucking skull?

Nobody knows we're broke.

I'm busting my ass to act like business as usual...

...and you call the Federal Reserve Bank.

Why not take an ad in The New York- fucking-Times?

Everything is drying up on you. You can't get it anywhere.

I say we go to the Fed and make a clean breast of it.

And blow everything. Look, the Fed will never find out.

We'll issue some domestic CDs to cover the Eurodollar deposits.

By the time we add up our tabs, it'll be two weeks from now.

By then, everything will be fine.

So we ran a little behind on bookkeeping. So what?

You can't do that. That's illegal. That is criminal, for chrissake.

Mildly. We can get by with it for one night.

- You don't know what's gonna happen. - Walk to the Fed...

...let them know, I'll tell you what's gonna happen.

You won't open tomorrow.

With the performance record you've had, they'll shut our ass down for good.

We gotta sweat it out and pray the Saudis roll over that 95 million...

...before Europe opens in the morning. It's the only chance we got.

Come on, Roy, where's your balls?

You're the one who's crazy.

I don't know anything about this. I am not losing my deniability.

You can hide in the closet if you want to...

...but you're staying right here.

If I catch you on the phone, I'll break your fucking arm.

What are you gonna do if the Saudis ask for that money?

I'll worry about it in the morning. I gotta get through the night first.

Sorry, Eurodollar section says the market's getting worse. Liquidity's drying up.

- How much of this is around the floor? - Not a lot.

Okay, here's the drill. For the rest of the afternoon, no strong positions, no exposure.

- Keep it humming. You got me? - Yes, sir.

Hong Kong opens 8:00 our time. Maybe they'll run it through them.

You and Betsy stay. I'll get back from reception as soon as I can.

You're not going to that Winters reception tonight, are you?

We're expected.

And since the only conceivable reason for our absence would be a crisis at the bank...

...and since that's what we don't want people to know we're up to our ass in...

...one of us better be there.

She's only the new chairman of the board of one of our biggest customers.

Excuse me just a second, Howard, Nancy.

- Hello, Mr. Smith. - Good evening.

Are you over your jet lag?

- Bankers aren't allowed to have jet lag. - Oh, no?

I feel lucky. Warner's agreed to be chief operating officer.

Glad to hear it.

Roy Lefcourt sends his congratulations.

He's a little under the weather.

Oh, I'm sorry to hear that.

I appreciate your being here.

Thanks for your help.

This is gonna work out all right.

Oh, thank you.

N- A...

...blank, blank, L-E.

Cremona.

Me, any joy?

No. Nothing moving here but the leaves on the trees.

Hong Kong opens in 10 minutes. Want me to take a sniff?

And have it in Paris through the back door? Better not.

How's our friend bearing up?

I think he has visions of numbers on his chest.

He's not the only one.

Let's keep the hatches battened down. Not a word.

Well...

...that sounds fine.

Just keep tracking. We could get a move out of it.

I'll check in myself if I get a chance.

Not the bank.

I might have to drift over there for a couple of minutes.

Tonight?

Nothing they couldn't handle themselves.

But I think I better look in on them.

- Don't wait up for me. - You're so tense.

Are you all right?