By focusing on one late-night scramble, we find the emotional heartbeat of the economic crisis
January 14, 2020
This is the film that The Big Short aspired to be. Not that that isn't also a great film. But Margin Call is the Titanic of finance films, by which I mean this: We intensely follow one firm's all-night scramble to survive the financial crisis. And because of that, we are emotionally invested in the breaking tragedy more than we could be for any birds-eye analysis.
The margin call, in so many words: The bank teeters on the brink of bankruptcy because its holdings have plummeted in value while over-leveraged. Amid rounds of layoffs, risk analyst Peter Sullivan (Zachary Quinto) burns the midnight oil and figures this out. All the cavalry is called, no matter the hour. When the creditors come calling at dawn, as a lawyer once told me, "you lose the farm."
What brilliant casting. Everyone, from Paul Bettany to Demi Moore to Stanley Tucci, nails it. Kevin Spacey as sales director presages his House of Cards ruthlessness but has more conscience than anyone else here. Salesmen may hawk anything, especially on Wall Street, but some actually do believe the best client is a repeat client. Only a few actors have the pedigree to be his CEO; Jeremy Irons is one. "How do you get to the top?" he asks the board. "By being first, by being better, or by cheating."