大空头

I am so sorry, Mike.
高盛的系统崩溃了 我丢了好多消息
Goldman had a systems failure. I lost a ton of messages.
是吗 美国银行说他们有停电事故
Yeah, B of A said they had a power outage,
摩根斯坦利说他们的服务器挂了
and Morgan Stanley said their server crashed.
是挺奇怪的
Huh. That’s weird.
我觉得那根本是不可能的
Well, I would call it improbable.
所以你把我们的定位定在哪里
So where do you have our position marked?
我觉得跟他们是一样的 迈克
I think it’s the same, Mike.
什么 你能跟我解释一下吗
What? Can you explain that to me, please,
为什么投保的东西都转让了
because how can the value of an insurance contract
保险合同的价值却一点影响都不受呢
not be affected by the demise of the very thing it insures?
他们属于独♥立♥市场 并不是总是相关的
They’re independent markets. They’re not always correlated.
我知道这听起来很奇怪
I know it sounds odd,
但这本来就是非常复杂的产品
but these are very complicated products.
它们是互相关联的
They are correlated.
人们会失去房♥子 失去工作
They’re gonna lose their houses, they’re gonna lose their jobs,
会失去
they’re gonna lose their…
你能不能好好听我说
Will you listen to me?
这就像是资本主义的末日
This is like the end of capitalism.
像是黑暗时期又回来了一样
This is like the Dark Ages all over again.
我不想跟爸爸说话
I don’t want to talk to Dad.
好的 我也爱你 留着你的钱吧
Okay, I love you, too. Save your money.
她让我吃点赞安诺 左洛复剂量加倍
She says I need to be on Xanax and double my dose of Zoloft.
左洛复 抗抑郁药
我让贝尔斯登给我们的做空估个价
I asked Bear Stearns to price our shorts.
他们告诉我担♥保♥债务凭证的价格没变
They tell me the CDOs still haven’t moved.
他妈真是疯了
This is fucking insane!
你意识到了吗
You realize that?
这些人都是骗子 他们都该进监狱
These people are crooks and they should be in prison.
看看次贷衍生债券综合指数
Look at the ABX.
你看这些担♥保♥债务凭证价格都成零了
You can see that the CDOs are worth zero!
你知道他们在干嘛
So you know what they’re doing, huh?
你知道他们在干嘛 对吧
You know what they’re doing, right?
是啊 他们在卸货
Yeah. They’re unloading them.
他们先卖♥♥担♥保♥债务凭证 然后换家银行
They’re selling their dog shit CDOs, then they go to another bank
把他们刚卖♥♥掉的东西做空
And short the shit they just fucking sold!
我们去找媒体吧 兄弟
Let’s go to the press, man!
这么好的故事谁不想登啊
This is a massive story. Who wouldn’t publish it?
罗伯特·雷德福德
Robert Redford!
不 你不懂
No, you don’t understand!
我明白了 同志们 我明白了
I got it, guys. I got it.
我该怎么办呢
What am I supposed to do?
写篇文章 题目就叫《我们都玩完了》
Do you want me to write a piece called “We’re All Fucked”?
好啊 简直完美
Yes! That’s a perfect title!
凯西 现在大家都在卖♥♥这些垃圾债券
Casey, right now every bank in town is unloading these shit bonds
卖♥♥给不知情的客户
onto unsuspecting customers.
而且在卖♥♥出去之前他们是不会主动降价的
And they won’t devalue them until they get them off their books.
这种程度的犯罪就算是在华尔街
This level of criminality is unprecedented,
也是前所未有的
even on fucking Wall Street.
杰米 我是说真的
Jamie… And this is me being honest here, okay?
我花了好几年才在华尔街有了这人脉
It took me years to build my relationships on Wall Street.
银行和评级机构不会确认这样的消息
No bank or ratings agency is going to confirm a story like this
就因为两个来自基金开在车♥库♥的家伙
just because it comes from two guys in a…
觉得世界末日要到了
Sorry, garage band hedge fund that thinks it’s the apocalypse.
我以为你是有良心的 凯西
I thought you were for real, Casey.
我真的是这么想的
You know, I’ll have to say I really did.
是吗
Really?
杰米 你要跟一个小孩才三岁
Yeah, Jamie, you try being for real with a three-year-old
老婆在读硕士的人谈良心
and a wife getting her master’s degree.
我是不会为了你那点预感毁了我的名声的
I’m not gonna burn my reputation on your wild hunch.
多谢你们跑这一趟 兄弟
Thanks for coming, guys.
见到你们真是太好了
Totally fucking awesome to see you.
是啊 凯西 我一直对你很不爽来着
Yeah, Casey. I’ve always hated you,
因为你在大学里那臭屁样儿
because you were a prick in college
到今天也还是没变
and you are a prick today!
谢谢 查理 还跟你妈住一块儿呢
Thanks, Charlie. Still living with your mom?
查理 走
Charlie, come on!
我是马克·鲍姆 给我回电
Mark Baum again. Call me.
次级贷债券大跳水
Subprime bonds fell off a cliff.
传闻说有大批违约
Rumor has it the default numbers are huge.
是谁先拿到汇款数据的 我猜是高盛
Who got the remittance data early? I bet it’s Goldman.
滚你的
Yeah, fuck you very much.
杰瑞德 这里真是一团糟 咱们什么情况
Jared, it’s chaos down here. Where are we?
“凯撒哭了 因为再没有能征服的地方了”
“And Caesar wept, for there were no more worlds to conquer.”
谢恩
Shane?
谢恩
Shane?
没人会买♥♥担♥保♥凭证和抵押债券了
Well, nobody’s buying CDO or mortgage bonds anymore
人人都要掉期交易
and everybody wants swaps.
这现在是华尔街最抢手的东西了
Swaps are now the most popular product on the street.
-对我们是好事啊 -是 也不是
– That’s good for us. – Yes and no.
我听人说 别人又听人说
I heard from somebody who heard from somebody…
不 亚历克斯 出去 抱歉
No, Alex, no. Sorry.
摩根的本尼·克里格
Bennie Cleager over at Morgan is taking on
在债券部门损失惨重
some heavy losses in the bond department.
你的船可能进水了
Your ship might be taking on water.
可能是时候穿上救生衣跑路了
It might be time to get our lifejacket and get out.
真是操蛋呀
I’m jacked.
真是操蛋啊
I’m jacked! I’m jacked to the tits!
好
Good.
-你感觉到了吗 -没有
– Do you feel it? – No.
你听到什么了 汤米
What’d you hear, Tommy?
开始了
It’s happening.
大家都想要我们的掉期信贷
Everybody wants our swaps.
凯西找你
Kathy’s office is looking for you.
他们又变卦了 是不是
They’re singing a different tune now, aren’t they?
情况不妙
That’s not good.
等会再说 现在不行
Maybe later. Not now.
-这是开玩笑的吧 -绝对不要
– This is a joke. – Never.
我在听
Listening.
-柏利博士吗 -是的
-Dr. Burry? – Yeah.
我是高盛投资公♥司♥的狄·温斯顿
Deeb Winston, Goldman Sachs.
是这样 我看了下你给的价位
Listen, I’ve been reviewing your position.
想跟你讨论一下 确保它们是合理的
I wanted to discuss your marks and make sure they’re fair.
那我想你们也已经
Yeah, I think you mean that you’ve
给自己留好了净空头仓位
secured a net short position yourselves.
这样你就可以随意给我的掉期信贷估价了
So you’re free to mark my swaps accurately for once
因为现在已经任你宰割了
because it’s now in your interest to do so.
我不知道你想让我说什么
I’m not sure what you want me to say.
我想
I think that…
我想你已经说出来了
I think that you’ve already said it.
你跟高盛的杰夫说我是不会转移基金的
You tell Jeff at Goldman that I’m not transferring funds.
真是胡扯
This is bullshit!
好的 我们等下再谈
Okay, we’ll talk later.
谢谢你
Thank you.
谢谢你来的这么快 马克
Thanks for coming so quickly, Mark.
我知道你最近听到了
I know you’ve been hearing rumblings
摩根受损的一些消息
about some losses Morgan has suffered.
-祝贺你 -祝什么
– Congratulations. – On what?
谢谢
Thanks.
玩的开心吗
Having fun?
不错
Yes.
非常好
Tons.
我只是想跟你说
I just wanted you to know that, um…
的确 摩根的确有所损失
that, yes, Morgan has suffered some losses,
但我们的流动资金相当充足 不必担心
but our liquidity is strong and there’s no cause for concern.
本尼·克里格会担心吗
Would Bennie Cleager be concerned?
因为传闻说
Because word on the street
他的损失也不小
is that he took some pretty heavy losses.
凯西 拜托 我们已经很熟了
Kathy, come on. We know each other.
发生什么事了
What’s going on?
情况有多糟
How bad is this?