PL

Like a film script

Editorial
I like Kevin Spacey. I was enthralled by his performance in American Beauty. The mid-life crisis that he went through is a phenomenon that is sad and funny at the same time. Even though his life has a bitter taste, he himself is childishly sweet. Now we have a chance to see him playing a similar part again in the Margin Call (the Polish translation of the title is Chciwość [Greed], but the original title is probably more familiar to our industry).

We are taken through 24 hours in the lives of bankers and brokers who have just discovered they are holding junk securities. What to do? The message of the head of the financial institution (John Tuld played by Jeremy Irons) is clear: get rid of them at any price, the faster the better, and in any way possible. In his opinion, in order to be successful you need to be either the cleverest or the first, and as they were not the cleverest, then...
This is supposedly how the financial crisis started back in 2008. The film is inspired by the story of Lehman Brothers, which is hard to forget in the real estate industry. The results of the crisis triggered off by the American bank are still being felt by bankers at Eurohypo and WestImmo, whom we devote a lot of attention to this month. These banks, respectively the real estate arms of Commerzbank and WestLB, are facing the spectre of closure. Please note that by alluding to the film and the Lehman Brothers' story I am not trying to suggest that the disappearance of both banks is inevitable. I'm simply describing my impressions of a film. The film is skilfully made but it is real life, after all, that writes the best scripts (please forgive the truism).

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