大空头

买♥♥买♥♥买♥♥
Yeah. Yeah.
不不不
No! No! No!
我说真的 一年要洗一次肠
No, seriously, a colonic once a year.
混♥蛋♥
Ass!
你现在还带个跟班了 你个混♥蛋♥
And you got a matching little butler boy, you buttfuck!
-你骂完了吗 -完了
– Are you done? – I think so, yeah.
天 骂得太起劲不小心闪了腰
God! I pulled a muscle in my back from yelling.
房♥贷拖欠率一直在涨
Mortgage defaults have done nothing but go up.
而你给我们的房♥贷证券报价却更高了
Yet you quote us a higher price on the bonds.
请你解释下 这根本说不通
Please explain that to me. There’s no way that makes sense.
你这些掉期交易估算肯定有问题
There’s no way you’re marking these swaps appropriately.
我们为什么还要继续和你交易
Why shouldn’t we back out of this trade right now?
我们达成交易那会
Didn’t I say when we made
我有没有说过评级机构 证券交易所委员会
this deal that the ratings agencies, the SEC
以及大银行对即将发生的事都一头雾水
and the big banks were clueless? Didn’t I say that?
-说过 -我说过吧
– Yes. – Didn’t I say it?
是的 你说过 确实说过
Yes, you did. You did.
闭嘴
Shut up.
现在火上身
Now their foot’s on fire,
他们反而觉得自己赚到了 你们觉得很意外吗
they think their steak is done, and you’re surprised?
这不是愚蠢 是骗局
That’s not stupidity. That’s fraud.
愚蠢和犯法就是一个道理
Tell me the difference between stupid and illegal,
我正要把我的白♥痴♥小舅子抓起来
and I’ll have my wife’s brother arrested.
挺好笑的
That was funny.
我猜你还没意识到整个系统都是一头雾水
I guess you just don’t realize how clueless the system really is.
是 我承认是有些见不得人的举动
Yes, there’s some shady shit going down,
但相信我 这都是愚蠢导致的
but trust me, it’s fuelled by stupidity!
看看你们自己
Look at yourselves.
你们证明了自己是敢于怀疑的人
You know, you pass yourself off as cynical people
却还对这个系统抱有希望吗
but you still have some faith in the system, don’t you?
我不抱希望
I don’t.
维尼是明白人 还有谁在乎
Well, except for Vinnie. And who gives a shit?
-不行 -听着
– No way! – Look…
要么我们是对的 要么我们大错特错
Either we’re right or we’re wrong in a giant, giant way.
若我们错了 我们需要找人
And if we’re wrong, then we got to find someone
帮我们脱手这场交易
to help us get out of this trade.
我现在很难相信我们是对的
I’m not feeling remotely confident that we’re right.
而且万一我们错了 谁会告诉我们
And if we’re wrong, who’s gonna tell us?
有谁能理解这东西 根本说不通
Who understands this stuff? It makes no sense!
我觉得咱们需要去拉斯维加斯
I think we need to go to Vegas.
-拉斯维加斯有什么 -拉斯维加斯吗
– What’s in Vegas? – Vegas?
拉斯维加斯怎么了
What the hell’s in Las Vegas?
美国证券化论♥坛♥下周将在那里召开
The American Securitization Forum is there next week.
每位债券和债务担♥保♥的交易员和次贷借贷者
Every bond and CDO salesman, subprime lender
以及掉期的交易员也会到场
and swap trader is gonna be there.
跟你们说 你们赌的就是那些傻瓜的钱
I’m telling you, your bet is against dumb money.
是时候让你们见识下什么叫人傻钱多
It’s about time you find out just how dumb that money really is.
天 我讨厌拉斯维加斯
God, I hate Vegas.
听说那里的食物不错
I hear the food has gotten really good in Vegas.
现在也有一家松久日料餐厅了
They have a Nobu now.
你能不能消停会
Would you fucking stop it?
汽车抵押贷款与工资日贷款
凯撒宫酒店
优选公♥司♥总裁保罗·丹托纳: 房♥贷市场十分稳健 日益壮大
有什么感觉吗
Any sense?
如果一个债券很贵 是什么意思
And if a bond is “Rich”, it is…
不知道 包含的资产很多吗
I don’t know, loaded with assets?
贵的意思就是定价过高
“Rich” Just means overpriced.
我在飞机上睡不着 所以做了点准备
I can’t sleep on planes, so I did my homework.
集中精神 咱们的目标是什么
Okay, let’s focus. What’s our goal?
来弄清楚这到底是千载难逢的机遇
To figure out if this is a deal of a lifetime
还是我们漏了什么不知道的细节
or if everyone here knows something we don’t
然后亏得一文不剩
and we’re gonna get royally screwed.
对 见到贝尔斯登公♥司♥的人时牢记这点
Right. Remember that when you meet with the guys from Bear.
我给你们安排了一次面谈
I set you up with a face-to-face.
-好棒 -在哪里
– Awesome. – Where is that?
天 五年前证券化论♥坛♥是个屌♥丝聚?
Holy shit. Five years ago, Securitization was a loser convention.
也就一两百人会到场
100, maybe 200 people would show.
规模达五千亿的一年后 变成现在这样
$500 billion a year later, you get this.
这里有不少爱装逼的人
There’s a lot of smug-looking people in here, huh?
一个个暴发户
It’s like someone hit a
装的像出身贵族似的
piniata filled with white people who suck at golf.
这些小丑都是什么来头
I mean, who are all these clowns?
-别这样 我觉得看着挺好玩 -闭嘴
– Oh, come on. I think it looks fun. – Shut up.
那肯定啊 温尼特说了
Certainly. Vennett says
咱们赚的可都是这些人的钱
these are the people we’re betting against.
-咱们过去 走吧 -他在那
– Yeah, here we go. Here we go. – There he is.
克里斯走我左边 呆在我左边
Chris, on my left. Chris, on my left.
先生们
Gentlemen.
我们什么时候才有机会
When do we get a chance
与这里的人们面谈呢
to face time with some of these lovely folks?
克里斯 把门卡给他
Chris, give him the keycards.
你知道要给哪些门卡吗
Do you even know which keycards you’re giving out?
-注意点别给错了 -谢谢
– You’re just giving them out? – Thank you.
首先旅途如何 一切顺利吗
First of all, how was your travel? How are you? Uneventful?
-很顺利 -很好
– Uneventful. – Okay.
我到这六小时了 还去了健身房♥
I’ve been here for six hours. I’ve already been to the gym,
吃了两个水煮荷包蛋
I had two poached eggs
还和哈利·戴恩·斯坦通打了牌
and I played blackjack with Harry Dean Stanton.
谢谢你的日常报告
Thank you for your diary.
面谈 我想要面谈
Face time. I’d like some face time.
记住 我们来这是为了收集信息
Just remember. We’re here to gather information.
我们是来获取情报的 好吗
We’re gathering information, okay?
不是来大肆宣扬我们的立场 明白吗
We’re not advertising our short position. All right?
我们不希望打草惊蛇 能做到吗
We don’t want to spook everybody. Can you do that?
我知道你容易说漏嘴 还停不下来
I know you got a big mouth, you like to run it.
这几天能不能收敛下
Can you just keep it shut for a few days?
好吧 好吧
Okay. Okay.
别担心 我们会好好干的
Yeah, don’t worry. We’ll play nice.
女士们先生们
Ladies and gentlemen.
商业形势大好
Business is good.
利润丰厚
Profits are strong
而房♥贷还会继续成为
and the mortgage continues to be the bedrock
整个经济体系的中流砥柱
on which this economy is built.
是 去年我们不得不承担
And, yes, we had to take some losses
在次贷市场带来的损失 但是
in our subprime department last year, but those losses
损失将会被保持在5%以内
will be contained at only 5%.
现在 在住房♥地♥产♥业
Now, in our residential sector…
马克 还没到问答时间
Mark, it’s not a Q and A.
我们推出的可调利率房♥贷产品
…our rollout of those variable rate packages
已被消费者一抢而空
were gobbled up by the consumers!
我有一个问题
I have a question, please.
先生 问答环节是在我讲话结束后
Sir, the Q and A is after my statements.
但看你很急的样子 请问吧
But you know what? You seem anxious. How can I help you?
-谢谢 你好吗 -很好 谢谢
– Thank you. How are you? – Fine, thank you.
你觉得次贷亏损
Would you say that it is a possibility
止步于5%的可能性有多大
or a probability that subprime losses stop at 5%?
谢谢
Thank you.
可能性非常大
I would say it is a very strong probability, indeed.
那么 回到房♥地♥产♥市场
So back to the residential sector.
我们推出新的浮动利率产品时
When we rolled out the new variable rates package…
打断一下
Excuse me.
请讲
Yes, sir.
零 零
Zero! Zero!
次贷亏损止于5%
There is a 0% chance
的可能性是零
that your subprime losses will stop at 5%.
零
Zero.
不好意思
Excuse me.
我得接个电♥话♥
I have to take this.
他肯定是美国银行的
He must be from Bank of America.
我们的次贷部门没事
Our subprime department is fine.
没 我现在什么也没干