Devils (2020–…): Season 1, Episode 7 - Episode #1.7 - full transcript
Better the devil you know, they say
or when the devil knows you
the blackness threatenes to envelope you
To swallow you whole.
No matter where you turn,
there is only more blackness
You cannot run from the devil any more
than you can run from yourself.
Hey watch out!
Where is mom? There she is! Hello!
Hello! So sweet of you to come all this way.
We wouldn't miss it.
It's our pleasure.
Mr. and Mrs. Morgan! How
are you? Happy Birthday!
Happy Birthday! Go on.
Here, happy birthday. I hope you like it.
Just look! Wow!
New York Yankees.
Where is Hans? Look what I got!
Something is bothering him. He doesn't sleep all night.
Now he is with Karl down by the lake.
Honey, will you talk with him?
Yes. Excuse me.
So nice! Nice to see you too.
Hans! Coming to the party?
Mr. Becker needs some time alone.
My book was under water I'd need time alone too.
I knew you'd sell billions in the high yield bonds
and now you're sitting on a pile of toxic assets.
The bank is ruined.
I am going to lose everything.
there could still be a turnaround
if land values were bonded...
That's not gonna happen.
You're screwed.
At least you would be if it weren't for NYL.
I am prepared to offer you a lifeline.
What sort of lifeline?
Liquidity, so you can get trhought this storm.
Out of the goodness of your heart?
That's a fair question.
All I ask in return,
is that you continue being friends.
As you always have been.
Come on. Let's go back to the party.
Happy birthday to you,
happy birthday, dear Jürgen,
happy Birthday to You!
In today's reality check, why are the PIIGS
of Europe causing such a stick?
Their financial situation makes
us look like Goldman Sachs.
I dont kill people. '
That is what you do, Massimo.
You do.
People like Sofia's brother.
Hey.
So what, what did I miss?
I've been through Ed's documents.
Did you find anything?
Have a look yourself.
There have go to be millions of
dollars hidden in there.
Not millions, billions.
This fund is worth 52 billion euros.
That's motive enough to kill someone.
It could be, but it is just a
standard synthetic CDO.
It's an obligation of a debt that's collateral.
It's complicated.
I know perfectly what's a CDO,
and I also know perfectly well
you use it to sell your shit.
Oh yes? Yes.
Come on.
Okay. So it's like...
it's a littled like when you have
something that is going off...
like flour or eggs. Uhuh.
But you do not want to pitch it out,
so what do you do? You make a cake.
You lump it all together.
But you're not stupid.
So you top it up with some nice
frosting and pretty decoration,
triple A securities
that it all makes it seem just
great, yummy.
Right?
The catch is when it comes to cut the cake,
and you find toxic stuff inside.
Hmmm, like in two thousand eight.
Subprime mortgages.
Very good. Very nice!
However, this particular cake isn't toxic.
Look at the yield.
Never a late payment, or default.
Reintaler Bank are paying
us 250 million dollars a month.
If Ed Stuart was behind this yield,
he should have been proud of it.
So why did he hide it?
I dont know. But Dominic must.
You were right. It's a synthetic CDO.
Two billion dollar worth.
Through Reintaler Bank?
Looks like it.
Ned, please.
And eh.... Massimo?
Does he still trust you?
Yeah. I think he does.
The debt crisis that began
in Europe's smallest economies,
is now threatening the biggest.
All ofEurope's largest economies
are under the mercy of the markets
and the subject of bail-out speculation...
Jeremy, can I offer you a drink?
Shut the door please.
You heard about Standard & Poor's
downgrading Treasury
Margaret Cunningham called me yesterday.
And what the fuck are you
going to do about it, Dominic?
This was your plan.
Yes, I'm going to proceed,
just as you and the Board agreed.
So, everything is going fine,
according to you?
I gather you're concerned about my strategy...
I think the name calling in the press
might be amusing to some people,
but I would hardly call it a strategy.
What can I do to alleviate your anxiety?
Why don't you start by telling
me about Hans Becker?
He's on board.
That's not what I hear.
We have an agreement, and he
will honor it when the time comes.
That's what you said about Ed Stuart, isnt't it?
How is the investigation into his death by the way?
Done. Suicide. End of story.
End of story huh?
All investigations can always be reopened.
You know, there's something that I don't understand,
having a hard time getting my head around.
Hm.
Your obsession with protecting
Massimo Ruggero.
He's our top trader, as you know.
He's a consensus maker.
Yesterday he shorted the Spanish banks
and made a profit of over two hundred million.
He's a loose cannon.
He is brilliant.
He's an undisciplned child who sometimes
needs to be sat in a corner.
You're the global CEO.
I trust that you will
judge me not on your fears
but on my results when the time comes.
Massimo, what time is it ?
I want you, Eleanor and Oliver
in the freezer. Seven thirty.
Hey, you okay? Yes, just running late late.
Tyrone overslept.
Again? Uhuh.
Remember you're taking him to school todayt?
It's my shift at the hospital.
Oh yeah, yeah. Toy, do you think?
Don't even think about asking.
Ty! Come on, we gotta go now.
Come in man.
What are you doing? Huh? What is this?
Stupid uniform.
All my rriends are laughing at me.
Then they're not your friends, are they?
This is a much better school, hm?
Do your laces.
Don't!
What that's for, fuck?
Give it back!
What are you carrying this for?
It's not mine.
Then whose is it?
It's a friend's.
He did not want to get caught with it.
Which friend? Look at me!
Do you know what this could have been used for?
Hm?
You think I don’t understand?
You think I ain't been through this?
You're better that this!
Pick up.
What's going on?
We need to get out of this estate.
Whatever it takes.
OK, none of these leaves this room.
Understand?
This was found among Ed's belongings,
after he died.
How did you get it?
It's better you don't know.
It looks like some kind of ledger,
synthetic CDO's.
Fifty-two billion dollars, signed in my name.
Is that a problem?
Apart from the fact that I did not sign it.
What, someone forged
your digital signature?
Apparently. Have the assets tanked?
On the surface, no. For they're founded,
but then I looked deeper
back to the first pay date in October 2009.
In the hour leading up to a
250 million dollar dividend.
Look what happens... NYL
pay out other transactions.
Amounting to two hundred and fifty million dollars.
Every month. The same day!
The same amount. Every fucking month.
NYL is moving money in and out,
but apparently nobody gains anything.
No way that's a coincidence.
I need you to find out where this money
is coming from who it's going to.
Do you think this has something to do
with why Ed was murdered?
You haven't uttered a word
since you got up this morning.
Jeremy Stonehouse
was here last night.
He's worried about Hans.
So are you. He's also
worried about Massimo.
He thinks you should have taken
Massimo out when you had the chance.
I'm keeping him caged at the moment.
But men like Massimo, he'll
find a way out, one way or the other.
And then?
I'll do what I have to do.
Now the problem is
if you are one
of the PIIGS countries
you can't borrow for any money,
because ultimately you are essentially no
longer a welcome member of the borrowers club!
Where is Oliver? I dont know. '
I texted him.
Just as well he didn't come.
Why do you say that?
He spent all his time yesterday roundnosing Paul.
We saw the two of them together
at the club, dinking.
Let's keep this between the three of us.
Sorry, I had to take Tyrone to
his new school. What did I miss?
Just some talk about Greece. Nothing much.
Massimo, if I wouldn't be here,
if it wasn't for you.
I will never forget that.
Much appreciated.
How long has he been following me?
Since you left his flat.
Oh god you could have told me
before I got this fucking bus.
You could have noticed.
You're getting sloppy, Sofia.
I got Massimo inside, haven't I!
Massimo is not on anybody's side but his own.
Neither are you.
Excuse me?
We are on the same side! Aren't we?
Yes. I'm just a little bit strung out, OK?
We're so close.
You think that CDO... was the reason
why Ed Stewart was killed?
You just stick like glue to Massimo.
Until he finds out for us.
You think you can do that?
Without losing focus?
Fucking hell!
Uhu? Mr. Morgan
I have tried all of Mr. Becker's
personal lines but none of them pick up.
Keep trying.
Come on in. Hey.
Can you close the door.
Nice work on the Spanish banks yesterday.
Thank you.
I have another job for you.
I want you to build up a position
on Reintaler Bank.
They are our partner.
Why do you want to move against them?
Their position is unsustainable.
That's what we do with partner banks,
we sustain them.
Not this time.
So why don't you get your new head
of trading to do it.
He is not you.
You're looking to cripple the Germans.
Nina is downstairs.
Care to join us for lunch?
I'd better get to work on this.
Let me know how you get on.
What have you got?
The pattern is that
$ 250 million gets taken out
of various offshore accounts each month.
Where financial transparency goes to die.
By a stroke of luck they were incorporated
by the same legal firm.
They all ended up getting routed through
Cyprus to the British Virgin Islands.
Recognize the name?
Campbell Rodriguez.
We use them too. So we got into
their accounts department an hour ago,
and they confirmed the ultimate beneficiary.
Guess who? Reintaler Bank?
They siphoning off money only to
send it back to themselves.
It's kind of a caroussel but no one
is making any profit out of it.
It gets even stranger.
He just ordered me to short them.
But RB is our partner bank.
Exactly what I said.
Month after month for years.
There's no way it was just Ed.
Senior management both in Germany
and London must be in on this.
Then Dominic ahould know about it.
A deal like this needs to have
significant physical collateral.
Get these shredded.
Right away.
I need you to track down the underlying assets.
We already tried,
but we hit a dead end.
Whatever asset, property or even activity
they put up as collateral,
it's extremely well hidden.
I think I know a way to find it.
Detective Bale.
I hope I'm not disturbing you, Mrs. Stuart.
Not at all.
But... I thought the
investigation was closed.
Something new has come up.
Could I have a minute of your time?
Hey! Nice shoes!
You see the FT this morning?
I did, yeah. Someone must have
leaked your report on the PIGS.
Not someone. You.
Mr. Morgan is would like to see you now.
No no, not you. Just him.
About the Financial Times this morning...
If we asked them to write about
the PIIGS, they wouldn't.
But leave the press an internal report,
they can't help themselves.
Please, sit down.
I see.
You proved your value to us yesterday, Oliver.
I hope you go on proving it.
Thank you sir. So would I.
You must be grateful to Massimo.
Without him you wouldn't have this job.
I am, very grateful.
He's changed your life, hasn't he.
Oh yes.
He is a good boss, Massimo.
It must have been difficult for you to demote him.
It's for his own good.
And temporary I hope.
Which is why I need your help.
What can I do?
Be my eyes and ears on the floor.
Are you asking me to spy?
Not at all.
But I'm in a glass box up here and
I need to know
what Massimo's tream is doing
so they don't get into trouble.
Eh, Mr. Morgan, I'm not a snitch.
Of course you're not! You're loyal to them.
And I'm loyal to you.
Sir?
I know that you planted that device,
we have it on tape.
But I'm gonna take care of you.
And you're gonna take care of me.
Because this is your family now,
and family always comes first.
Have a good day, Oliver.
Thank you.
How are you doing?
Come on in.
What was the detective doing here?
She said there were some new
developments about Ed's death.
Developments?
She didn't say.
She just wanted to know more
about some of Ed's files.
What files? The ones I already
gave the police weeks ago.
Nina! Nina! Hello!
Come! Come with us! Come on!
Here, the collateral
assets you couldn't find
Where did you get this?
You don't wanna know.
Does Duval know about it?
You asked me not to tell him.
I had a look.
They all seem valuable enough assets
to cover the CDO.
This is the one with the high volume.
This is it.
The Novareni nuclear power plant.
Someone is using it as collateral for the money,
being cycled through the Reintaler Bank CDO.
There is nothing here about
who operates the plant,
or who owns it since Moldova
left the Soviet Union in '91.
No, the files have been scrubbed.
I want to look at it myself.
I need to catch a flight.
What for?
It may explain why Ed Stuart was killed.
Okay, let's go.
It's better I go alone.
You wouldn't even know about this
place if it weren’t for me.
And I am grateful, truly, but
it's too dangerous.
Oh is it? Yes.
Massimo. I'm gonna be out of town
for a day or two.
Cover for me. Okay. Where are you going?
Moldova. I need you to get me me anything you can
find on the Novareni nuclear power plant.
Okay.
What's happening?
Today I took your wife to see Ed Stuart's widow.
The police woman was there, Vicki Bale
She was asking questions about the CDO.
They might be making a connection to... the death.
They might not be the only ones.
Overnight flight to Moldova.
I booked a seat next to yours.
What the fuck are you doing here now?
Oh, I see.
I never told you the story of my brothers death.
He died, he died because of your bank.
I spent the last decade
looking a way to bring down
the bastards who did this
and no one - not you not Duval -
is going to stop me. So let's go I guess.
Hey. Hey.
Hm. Tough day?
Yeah, you could say that.
No no. Come on.
What? Get up, sit down.
Toya, what are you doing?
Taking care of you.
Is it? Uhu. Close eyes.
Just do it.
Okay.
Ah ah!
No touching. Not yet.
Shit! It's Tyrone. Oliver!
You got 24 hours to bring back my fucking gun
to your fucking getto
Hey! You understand me?
Do you understand? If you don't understand,
I'll fucking make sure !
Hey! Hey!. What the hell happened?
Nothing! I'm fine I'm fine.
Please take him to the hospital.
No! No! No hospital or no police.
He can't have a record do you understand?
Look, can you clean it up?
I can try.
Let's get inside.
So, was that your friend?
It's all your fault! It's my fault?
He got mad when I
said I didn’t have his gun!
What?!
So?
No one in the Ministry speaks English,
or Italian or French or Spanish.
I should have gone. I speak Russian.
Pretty sure they wouldn't have talked anyway.
So what do we do now?
The nuclear power plant is in Transnistria.
Day ride from here.
Okay.
Do you want me to drive?
You've been five hours driving.
No I'm okay, thank you.
What is it? What?
Somebody is following us.
Hold on, okay? Hold on!
Holy shit!
Shit, shit! Fuck off!
Shit.
Fuck!
What was that?
Who was that?
I don't fucking know.
Are you OK?
Yeah. You OK?
Stop it.
You've been through those
pages hundred times. Stop.
Hm? What are you afraid of?
What is it?
I am afraid of being right.
Don’t worry then.
You're never right.
Come.
Papa?
Hey. What is it?
You OK? Massimo.
I won't hurt you, Sofia. Never.
That is why more and more countries
are beginning to really hate Germany again.
Central Bank of Germany
and politicians who are
playing the system for themselves,
and they're sacrificing the eurozone once again...
Mr. Morgan, I'm so sorry,
but Mr. Becker would not wait downstairs
I need to talk to you.
Cynthia, it's allright.
Would you like a coffee?
What the fuck, Dominic?!
What are you doing?
I don't want your fucking coffee,
I want an explanation please.
You haven't returned my calls
in the past two days.
You said we are friends.
And we are friends.
Is that why you had Massimo
Ruggero short on me?
Half the traders in Europe
are coming in behind him.
We had an agreement.
You can't blackmail me, Dominic.
Your name is all over those
trades, just like mine.
My name isn't actually.
Massimo's is.
What?
You heard me.
I can't do what you're asking.
Of course you can.
Not, not in good conscience, no.
Conscience?
Since when has conscience had
anything to do with this?
NYL has taken a major position on the
Italian debt default.
Your bank needs to fall in line.
This has nothing to do with banking.
This is about destroying a country!
Bringing ruin to the lives of
millions of ordinary people!
If Italy goes under,
the euro will collapse!
The Euro is a bust!
Debts need to be repaid.
A dismissed power plant
as collateral for 250 million CDO?
It's a scam.
Junk, just like the rest of the CDO.
And Dominic knew it for sure.
This is what Ed Stuart found out.
We got the bastard.
I caught Dominic Morgan!
Not exactly. Oh yeah!
Once I publish these pictures
Dominic Morgan will be ruined forever!
He won't, but I will.
My digital signature is on that CDO.
Why? That's is what
I am trying to figure out.
So you say they forged it. You
didn't kill Ed Stuart.
Dominic Morgan did.
This is all about Dominic Morgan!
I had the motive and the means.
And I'm implicateds in
the fraud he discovered.
So, you publish the photo's,
I go to jail.
You keep this with you. I need you to hide it.
How the 6 foot 4 inch fugitive...
For many years, everyone assumed that Bin
Laden would live out his days....
Ah, there you are. Hey.
So? What did you find in Moldova?
Nothing. It was a wild goose chase.
Eleanor
Paul ordered us to stop shorting Reintaler.
Then, not a few minutes later we started
dumping our Italian public debt.
RB did the same.
The eighth largest economy in the world
has been cut off at the knees.
And no one lifts a finger to stop it.
I don’t see the point.
That's the fucking point!
I understand now.
Do you?
Let me use this occasion
to dwell a bit further
on monetary policy
under the current embargo...
You couldn't be seen to kill off an entire country.
So you got Reintaler Bank to do it for you.
Italy is part of the PIGS.
They are now - thanks to you.
But you have been planning this for years.
Feel free to take a look around.
Are you sure we can afford this?
Yeah, the bank gave me a bonus.
Ed Stuart found out about the CDO scam
you were using to keep Hans Becker on the side.
So you offered him the vice CEO job
that was meant for me.
But Ed wouldn't take the bribe.
And you killed him.
And forged my signature on the CDO's,
to keep me quiet if I found out the truth.
It was you who tried to stop me in Moldova.
And it was you who
brought Carrie back.
If you want to believe that.
That's the last thing I want to think.
But it's the truth, isn't it?
How many billions will you make,
destroying a country?
It's not... Of course,
it is.
... about the money.
You didn’t want to end up like your father.
You started from with nothing.
But you worked hard.
You climbed your way up.
You're not at the top, not yet.
But when you get there
you will see the way the world really is.
And how it must remain.
I don’t know about that.
But I can see you pretty clearly right now.
Do as I say Massimo and you
will be a part of the future.
Otherwise, I'll annihilate you.
Papa? Papa!
Papa? Papa?
Mama! Mama!
Phil Harvey describes unemployment
with "Dogs and bones" story.
You put 95 bones in a room, then you
send in a hundred dogs to get bones.
Five dogs don't get any bones.
So, what happens is, the economists
take those five dogs off to the side.
And they have a special training course
for these dogs and they train them how to get bones
Then, they run the experiment all over again.
They send one hundred dogs in
to get ninety-five bones,
and those five dogs come
back with bones this time
And they say: See? Anyone can get a bone
if they work hard, train hard
and compete hard.
But of course five others
didn't get bones, right?
Unemployment is five
percent of those dogs.
They are not going to get bones.
The only way they are going to get rid
of that problem is five more bones!
or when the devil knows you
the blackness threatenes to envelope you
To swallow you whole.
No matter where you turn,
there is only more blackness
You cannot run from the devil any more
than you can run from yourself.
Hey watch out!
Where is mom? There she is! Hello!
Hello! So sweet of you to come all this way.
We wouldn't miss it.
It's our pleasure.
Mr. and Mrs. Morgan! How
are you? Happy Birthday!
Happy Birthday! Go on.
Here, happy birthday. I hope you like it.
Just look! Wow!
New York Yankees.
Where is Hans? Look what I got!
Something is bothering him. He doesn't sleep all night.
Now he is with Karl down by the lake.
Honey, will you talk with him?
Yes. Excuse me.
So nice! Nice to see you too.
Hans! Coming to the party?
Mr. Becker needs some time alone.
My book was under water I'd need time alone too.
I knew you'd sell billions in the high yield bonds
and now you're sitting on a pile of toxic assets.
The bank is ruined.
I am going to lose everything.
there could still be a turnaround
if land values were bonded...
That's not gonna happen.
You're screwed.
At least you would be if it weren't for NYL.
I am prepared to offer you a lifeline.
What sort of lifeline?
Liquidity, so you can get trhought this storm.
Out of the goodness of your heart?
That's a fair question.
All I ask in return,
is that you continue being friends.
As you always have been.
Come on. Let's go back to the party.
Happy birthday to you,
happy birthday, dear Jürgen,
happy Birthday to You!
In today's reality check, why are the PIIGS
of Europe causing such a stick?
Their financial situation makes
us look like Goldman Sachs.
I dont kill people. '
That is what you do, Massimo.
You do.
People like Sofia's brother.
Hey.
So what, what did I miss?
I've been through Ed's documents.
Did you find anything?
Have a look yourself.
There have go to be millions of
dollars hidden in there.
Not millions, billions.
This fund is worth 52 billion euros.
That's motive enough to kill someone.
It could be, but it is just a
standard synthetic CDO.
It's an obligation of a debt that's collateral.
It's complicated.
I know perfectly what's a CDO,
and I also know perfectly well
you use it to sell your shit.
Oh yes? Yes.
Come on.
Okay. So it's like...
it's a littled like when you have
something that is going off...
like flour or eggs. Uhuh.
But you do not want to pitch it out,
so what do you do? You make a cake.
You lump it all together.
But you're not stupid.
So you top it up with some nice
frosting and pretty decoration,
triple A securities
that it all makes it seem just
great, yummy.
Right?
The catch is when it comes to cut the cake,
and you find toxic stuff inside.
Hmmm, like in two thousand eight.
Subprime mortgages.
Very good. Very nice!
However, this particular cake isn't toxic.
Look at the yield.
Never a late payment, or default.
Reintaler Bank are paying
us 250 million dollars a month.
If Ed Stuart was behind this yield,
he should have been proud of it.
So why did he hide it?
I dont know. But Dominic must.
You were right. It's a synthetic CDO.
Two billion dollar worth.
Through Reintaler Bank?
Looks like it.
Ned, please.
And eh.... Massimo?
Does he still trust you?
Yeah. I think he does.
The debt crisis that began
in Europe's smallest economies,
is now threatening the biggest.
All ofEurope's largest economies
are under the mercy of the markets
and the subject of bail-out speculation...
Jeremy, can I offer you a drink?
Shut the door please.
You heard about Standard & Poor's
downgrading Treasury
Margaret Cunningham called me yesterday.
And what the fuck are you
going to do about it, Dominic?
This was your plan.
Yes, I'm going to proceed,
just as you and the Board agreed.
So, everything is going fine,
according to you?
I gather you're concerned about my strategy...
I think the name calling in the press
might be amusing to some people,
but I would hardly call it a strategy.
What can I do to alleviate your anxiety?
Why don't you start by telling
me about Hans Becker?
He's on board.
That's not what I hear.
We have an agreement, and he
will honor it when the time comes.
That's what you said about Ed Stuart, isnt't it?
How is the investigation into his death by the way?
Done. Suicide. End of story.
End of story huh?
All investigations can always be reopened.
You know, there's something that I don't understand,
having a hard time getting my head around.
Hm.
Your obsession with protecting
Massimo Ruggero.
He's our top trader, as you know.
He's a consensus maker.
Yesterday he shorted the Spanish banks
and made a profit of over two hundred million.
He's a loose cannon.
He is brilliant.
He's an undisciplned child who sometimes
needs to be sat in a corner.
You're the global CEO.
I trust that you will
judge me not on your fears
but on my results when the time comes.
Massimo, what time is it ?
I want you, Eleanor and Oliver
in the freezer. Seven thirty.
Hey, you okay? Yes, just running late late.
Tyrone overslept.
Again? Uhuh.
Remember you're taking him to school todayt?
It's my shift at the hospital.
Oh yeah, yeah. Toy, do you think?
Don't even think about asking.
Ty! Come on, we gotta go now.
Come in man.
What are you doing? Huh? What is this?
Stupid uniform.
All my rriends are laughing at me.
Then they're not your friends, are they?
This is a much better school, hm?
Do your laces.
Don't!
What that's for, fuck?
Give it back!
What are you carrying this for?
It's not mine.
Then whose is it?
It's a friend's.
He did not want to get caught with it.
Which friend? Look at me!
Do you know what this could have been used for?
Hm?
You think I don’t understand?
You think I ain't been through this?
You're better that this!
Pick up.
What's going on?
We need to get out of this estate.
Whatever it takes.
OK, none of these leaves this room.
Understand?
This was found among Ed's belongings,
after he died.
How did you get it?
It's better you don't know.
It looks like some kind of ledger,
synthetic CDO's.
Fifty-two billion dollars, signed in my name.
Is that a problem?
Apart from the fact that I did not sign it.
What, someone forged
your digital signature?
Apparently. Have the assets tanked?
On the surface, no. For they're founded,
but then I looked deeper
back to the first pay date in October 2009.
In the hour leading up to a
250 million dollar dividend.
Look what happens... NYL
pay out other transactions.
Amounting to two hundred and fifty million dollars.
Every month. The same day!
The same amount. Every fucking month.
NYL is moving money in and out,
but apparently nobody gains anything.
No way that's a coincidence.
I need you to find out where this money
is coming from who it's going to.
Do you think this has something to do
with why Ed was murdered?
You haven't uttered a word
since you got up this morning.
Jeremy Stonehouse
was here last night.
He's worried about Hans.
So are you. He's also
worried about Massimo.
He thinks you should have taken
Massimo out when you had the chance.
I'm keeping him caged at the moment.
But men like Massimo, he'll
find a way out, one way or the other.
And then?
I'll do what I have to do.
Now the problem is
if you are one
of the PIIGS countries
you can't borrow for any money,
because ultimately you are essentially no
longer a welcome member of the borrowers club!
Where is Oliver? I dont know. '
I texted him.
Just as well he didn't come.
Why do you say that?
He spent all his time yesterday roundnosing Paul.
We saw the two of them together
at the club, dinking.
Let's keep this between the three of us.
Sorry, I had to take Tyrone to
his new school. What did I miss?
Just some talk about Greece. Nothing much.
Massimo, if I wouldn't be here,
if it wasn't for you.
I will never forget that.
Much appreciated.
How long has he been following me?
Since you left his flat.
Oh god you could have told me
before I got this fucking bus.
You could have noticed.
You're getting sloppy, Sofia.
I got Massimo inside, haven't I!
Massimo is not on anybody's side but his own.
Neither are you.
Excuse me?
We are on the same side! Aren't we?
Yes. I'm just a little bit strung out, OK?
We're so close.
You think that CDO... was the reason
why Ed Stewart was killed?
You just stick like glue to Massimo.
Until he finds out for us.
You think you can do that?
Without losing focus?
Fucking hell!
Uhu? Mr. Morgan
I have tried all of Mr. Becker's
personal lines but none of them pick up.
Keep trying.
Come on in. Hey.
Can you close the door.
Nice work on the Spanish banks yesterday.
Thank you.
I have another job for you.
I want you to build up a position
on Reintaler Bank.
They are our partner.
Why do you want to move against them?
Their position is unsustainable.
That's what we do with partner banks,
we sustain them.
Not this time.
So why don't you get your new head
of trading to do it.
He is not you.
You're looking to cripple the Germans.
Nina is downstairs.
Care to join us for lunch?
I'd better get to work on this.
Let me know how you get on.
What have you got?
The pattern is that
$ 250 million gets taken out
of various offshore accounts each month.
Where financial transparency goes to die.
By a stroke of luck they were incorporated
by the same legal firm.
They all ended up getting routed through
Cyprus to the British Virgin Islands.
Recognize the name?
Campbell Rodriguez.
We use them too. So we got into
their accounts department an hour ago,
and they confirmed the ultimate beneficiary.
Guess who? Reintaler Bank?
They siphoning off money only to
send it back to themselves.
It's kind of a caroussel but no one
is making any profit out of it.
It gets even stranger.
He just ordered me to short them.
But RB is our partner bank.
Exactly what I said.
Month after month for years.
There's no way it was just Ed.
Senior management both in Germany
and London must be in on this.
Then Dominic ahould know about it.
A deal like this needs to have
significant physical collateral.
Get these shredded.
Right away.
I need you to track down the underlying assets.
We already tried,
but we hit a dead end.
Whatever asset, property or even activity
they put up as collateral,
it's extremely well hidden.
I think I know a way to find it.
Detective Bale.
I hope I'm not disturbing you, Mrs. Stuart.
Not at all.
But... I thought the
investigation was closed.
Something new has come up.
Could I have a minute of your time?
Hey! Nice shoes!
You see the FT this morning?
I did, yeah. Someone must have
leaked your report on the PIGS.
Not someone. You.
Mr. Morgan is would like to see you now.
No no, not you. Just him.
About the Financial Times this morning...
If we asked them to write about
the PIIGS, they wouldn't.
But leave the press an internal report,
they can't help themselves.
Please, sit down.
I see.
You proved your value to us yesterday, Oliver.
I hope you go on proving it.
Thank you sir. So would I.
You must be grateful to Massimo.
Without him you wouldn't have this job.
I am, very grateful.
He's changed your life, hasn't he.
Oh yes.
He is a good boss, Massimo.
It must have been difficult for you to demote him.
It's for his own good.
And temporary I hope.
Which is why I need your help.
What can I do?
Be my eyes and ears on the floor.
Are you asking me to spy?
Not at all.
But I'm in a glass box up here and
I need to know
what Massimo's tream is doing
so they don't get into trouble.
Eh, Mr. Morgan, I'm not a snitch.
Of course you're not! You're loyal to them.
And I'm loyal to you.
Sir?
I know that you planted that device,
we have it on tape.
But I'm gonna take care of you.
And you're gonna take care of me.
Because this is your family now,
and family always comes first.
Have a good day, Oliver.
Thank you.
How are you doing?
Come on in.
What was the detective doing here?
She said there were some new
developments about Ed's death.
Developments?
She didn't say.
She just wanted to know more
about some of Ed's files.
What files? The ones I already
gave the police weeks ago.
Nina! Nina! Hello!
Come! Come with us! Come on!
Here, the collateral
assets you couldn't find
Where did you get this?
You don't wanna know.
Does Duval know about it?
You asked me not to tell him.
I had a look.
They all seem valuable enough assets
to cover the CDO.
This is the one with the high volume.
This is it.
The Novareni nuclear power plant.
Someone is using it as collateral for the money,
being cycled through the Reintaler Bank CDO.
There is nothing here about
who operates the plant,
or who owns it since Moldova
left the Soviet Union in '91.
No, the files have been scrubbed.
I want to look at it myself.
I need to catch a flight.
What for?
It may explain why Ed Stuart was killed.
Okay, let's go.
It's better I go alone.
You wouldn't even know about this
place if it weren’t for me.
And I am grateful, truly, but
it's too dangerous.
Oh is it? Yes.
Massimo. I'm gonna be out of town
for a day or two.
Cover for me. Okay. Where are you going?
Moldova. I need you to get me me anything you can
find on the Novareni nuclear power plant.
Okay.
What's happening?
Today I took your wife to see Ed Stuart's widow.
The police woman was there, Vicki Bale
She was asking questions about the CDO.
They might be making a connection to... the death.
They might not be the only ones.
Overnight flight to Moldova.
I booked a seat next to yours.
What the fuck are you doing here now?
Oh, I see.
I never told you the story of my brothers death.
He died, he died because of your bank.
I spent the last decade
looking a way to bring down
the bastards who did this
and no one - not you not Duval -
is going to stop me. So let's go I guess.
Hey. Hey.
Hm. Tough day?
Yeah, you could say that.
No no. Come on.
What? Get up, sit down.
Toya, what are you doing?
Taking care of you.
Is it? Uhu. Close eyes.
Just do it.
Okay.
Ah ah!
No touching. Not yet.
Shit! It's Tyrone. Oliver!
You got 24 hours to bring back my fucking gun
to your fucking getto
Hey! You understand me?
Do you understand? If you don't understand,
I'll fucking make sure !
Hey! Hey!. What the hell happened?
Nothing! I'm fine I'm fine.
Please take him to the hospital.
No! No! No hospital or no police.
He can't have a record do you understand?
Look, can you clean it up?
I can try.
Let's get inside.
So, was that your friend?
It's all your fault! It's my fault?
He got mad when I
said I didn’t have his gun!
What?!
So?
No one in the Ministry speaks English,
or Italian or French or Spanish.
I should have gone. I speak Russian.
Pretty sure they wouldn't have talked anyway.
So what do we do now?
The nuclear power plant is in Transnistria.
Day ride from here.
Okay.
Do you want me to drive?
You've been five hours driving.
No I'm okay, thank you.
What is it? What?
Somebody is following us.
Hold on, okay? Hold on!
Holy shit!
Shit, shit! Fuck off!
Shit.
Fuck!
What was that?
Who was that?
I don't fucking know.
Are you OK?
Yeah. You OK?
Stop it.
You've been through those
pages hundred times. Stop.
Hm? What are you afraid of?
What is it?
I am afraid of being right.
Don’t worry then.
You're never right.
Come.
Papa?
Hey. What is it?
You OK? Massimo.
I won't hurt you, Sofia. Never.
That is why more and more countries
are beginning to really hate Germany again.
Central Bank of Germany
and politicians who are
playing the system for themselves,
and they're sacrificing the eurozone once again...
Mr. Morgan, I'm so sorry,
but Mr. Becker would not wait downstairs
I need to talk to you.
Cynthia, it's allright.
Would you like a coffee?
What the fuck, Dominic?!
What are you doing?
I don't want your fucking coffee,
I want an explanation please.
You haven't returned my calls
in the past two days.
You said we are friends.
And we are friends.
Is that why you had Massimo
Ruggero short on me?
Half the traders in Europe
are coming in behind him.
We had an agreement.
You can't blackmail me, Dominic.
Your name is all over those
trades, just like mine.
My name isn't actually.
Massimo's is.
What?
You heard me.
I can't do what you're asking.
Of course you can.
Not, not in good conscience, no.
Conscience?
Since when has conscience had
anything to do with this?
NYL has taken a major position on the
Italian debt default.
Your bank needs to fall in line.
This has nothing to do with banking.
This is about destroying a country!
Bringing ruin to the lives of
millions of ordinary people!
If Italy goes under,
the euro will collapse!
The Euro is a bust!
Debts need to be repaid.
A dismissed power plant
as collateral for 250 million CDO?
It's a scam.
Junk, just like the rest of the CDO.
And Dominic knew it for sure.
This is what Ed Stuart found out.
We got the bastard.
I caught Dominic Morgan!
Not exactly. Oh yeah!
Once I publish these pictures
Dominic Morgan will be ruined forever!
He won't, but I will.
My digital signature is on that CDO.
Why? That's is what
I am trying to figure out.
So you say they forged it. You
didn't kill Ed Stuart.
Dominic Morgan did.
This is all about Dominic Morgan!
I had the motive and the means.
And I'm implicateds in
the fraud he discovered.
So, you publish the photo's,
I go to jail.
You keep this with you. I need you to hide it.
How the 6 foot 4 inch fugitive...
For many years, everyone assumed that Bin
Laden would live out his days....
Ah, there you are. Hey.
So? What did you find in Moldova?
Nothing. It was a wild goose chase.
Eleanor
Paul ordered us to stop shorting Reintaler.
Then, not a few minutes later we started
dumping our Italian public debt.
RB did the same.
The eighth largest economy in the world
has been cut off at the knees.
And no one lifts a finger to stop it.
I don’t see the point.
That's the fucking point!
I understand now.
Do you?
Let me use this occasion
to dwell a bit further
on monetary policy
under the current embargo...
You couldn't be seen to kill off an entire country.
So you got Reintaler Bank to do it for you.
Italy is part of the PIGS.
They are now - thanks to you.
But you have been planning this for years.
Feel free to take a look around.
Are you sure we can afford this?
Yeah, the bank gave me a bonus.
Ed Stuart found out about the CDO scam
you were using to keep Hans Becker on the side.
So you offered him the vice CEO job
that was meant for me.
But Ed wouldn't take the bribe.
And you killed him.
And forged my signature on the CDO's,
to keep me quiet if I found out the truth.
It was you who tried to stop me in Moldova.
And it was you who
brought Carrie back.
If you want to believe that.
That's the last thing I want to think.
But it's the truth, isn't it?
How many billions will you make,
destroying a country?
It's not... Of course,
it is.
... about the money.
You didn’t want to end up like your father.
You started from with nothing.
But you worked hard.
You climbed your way up.
You're not at the top, not yet.
But when you get there
you will see the way the world really is.
And how it must remain.
I don’t know about that.
But I can see you pretty clearly right now.
Do as I say Massimo and you
will be a part of the future.
Otherwise, I'll annihilate you.
Papa? Papa!
Papa? Papa?
Mama! Mama!
Phil Harvey describes unemployment
with "Dogs and bones" story.
You put 95 bones in a room, then you
send in a hundred dogs to get bones.
Five dogs don't get any bones.
So, what happens is, the economists
take those five dogs off to the side.
And they have a special training course
for these dogs and they train them how to get bones
Then, they run the experiment all over again.
They send one hundred dogs in
to get ninety-five bones,
and those five dogs come
back with bones this time
And they say: See? Anyone can get a bone
if they work hard, train hard
and compete hard.
But of course five others
didn't get bones, right?
Unemployment is five
percent of those dogs.
They are not going to get bones.
The only way they are going to get rid
of that problem is five more bones!