Too Big to Fail

Jim Wilkinson: (watching Paulson's conversation with John McCain) He's not... threatening the Republican Presidential nominee, is he? Nancy Pelosi: (when Paulson kneels down in front of her) Hank, I didn't know you were Catholic. Michele Davis: They almost bring down the U.S. economy as we know it, but we can't put restrictions on how they spend the $125 billion we're giving them because... they might not take it? Timothy Geithner: I'm on the Street, Hank, and people are just going about their business. They have no idea the whole thing is about to fall down. Congressman Barney Frank: (reviewing the first draft of TARP) It's all for the banks. You don't want a penny for the average Joe that's about to lose his house?

Too Big to Fail (film), CC BY-SA 4.0

Joe Gregory: You heard anything from Buffett? Erin Callan: He's asking for preferred shares at 40, with a dividend of nine percent. Dick Fuld: We were just at 66! What-the-fuck? Joe Gregory: Maybe it's just an opening gambit, Dick. Richard Fuld: Sounds more like a goddamn insult! Erin Callan: Dick, we're at 36 right now. We haven't been anywhere near 66 in months. The markets like Buffett. His name will push the price up overnight. Dick Fuld: You know, I don't care who he is. I am not spending $360 million a year for the pleasure of doing business with him.

Too Big to Fail (film), CC BY-SA 4.0

Bart McDade: Min, I'm so sorry. Min Euoo Sung: We have negotiated in good faith, now all of a sudden we are going backward? Bart McDade: We can work with you on the price. Min Euoo Sung: It is not about the price. It is about the way you have conducted this. Min Euoo Sung: I'd like to thank you, all of you, but I don't think we have a structure that works. Dick Fuld: What, that's it? You're just gonna pack up and go back to Korea?

Too Big to Fail (film), CC BY-SA 4.0

Ben Bernanke: Lehman's down another 10%. Henry Paulson: You are not gonna let me get down a single bite, are you? Ben Bernanke: This is why I have oatmeal.

Too Big to Fail (film), CC BY-SA 4.0

Neel Kashkari: Look, I'm just speaking for myself here, but I think you need to do what's right for the firm. Dick Fuld: Do what's right? What is that supposed to mean? Neel Kashkari: If your stock price keeps sliding, you may get an offer at a price that doesn't look all that compelling, but you may have to take it just to keep the company intact. Dick Fuld: What kind of price are you talking about? Neel Kashkari: Could be... I mean, it might be low single digits. Dick Fuld: Last February, we were at 66 a share. Lehman Brothers is not Bear Stearns. We have a great business. Real estate will come back. I am not <u>fucking</u> giving this company away! [slams down the phone]

Too Big to Fail (film), CC BY-SA 4.0

Chinese Official: Hank, I must ask you about Fannie and Freddie. We have hundreds of billions invested. You've assured us the investment is safe. Hank Paulson: And it is, absolutely. Chinese Official: We're watching a great deal of our money disappear. Share prices have dropped 60% in the last two months. Carrying your bazooka around has not helped matters. Congress gave you the power. Perhaps it is time to use it. Hank Paulson: The market will stabilize. We just have to give it some time. Chinese Official: There was an approach last month from Russia. They have considerable holdings in Fannie and Freddie as well. They suggested we coordinate and, without warning, dump hundreds of billions of Fannie and Freddie's bonds onto the market. Henry Paulson: [flabbergasted] That would be... Chinese Official: Chaos. The amount of debt your country carries is a terrible vulnerability. Henry Paulson: But you... Chinese Official: We declined. [smiles] Respectfully. Even in the U.S., it seems the r

Too Big to Fail (film), CC BY-SA 4.0