“It's going to get worse before it gets better.” Ever wanted to know what happened at Lehman Brothers in the days leading in to the GFC? This punishing account of banker and trader as they meet judgement day is, one imagines, pretty much the real deal.

Vicious down-sizing leaves a handful of people running Risk Assessment, people who discover the company's biggest risk has already been taken. With the bank losing more money each day than its total asset value, a decision regarding solution is bounced all the way to the top. He has two words for them: fire sale.

Ethics and morality, or rather the lack of either, is at the heart of Chandor's arresting film. Written with a caustic wit, Margin Call examines the final twenty-four hours before multi-million dollar earning executives unleash the mother of all financial storms. “Trillions of dollars rely on that formula,” mutters a stunned manager having been told that the formula was simply wrong.

Margin Call is an actor's story and a strong cast led by Kevin Spacey, Stanley Tucci, Zachary Quinto and Demi Moore rise to the task. Jeremy Irons relishes his role as the bank's owner who ruthlessly tips the scales in has favour, irrespective of the consequences his colleagues, clients or country will be forced to endure. He simply sees opportunity in the bargains he'll create from chaos.

With a commanding use of camera, Chandor illustrates a cut-throat world with sharp clarity. Dreary offices have seldom presented such menace. However it is the response of his characters – shock, fear, resignation, excitement – that is the film's life-blood. Disturbing stuff. If you're a student of the fall out from the GFC Margin Call may not teach you anything new but it will confirm your darkest suspicions about man and money.

// COLIN FRASER



Margin Call is probably one of the best films so far about the global financial crisis. It reveals the behind-the-scenes machinations of an amoral finance corporation that sets out to survive (and profit further down the line) in a crisis at the expense of its investors. It also chillingly shows how those in the business of finance will quickly jettison their scruples if it means keeping their jobs and their bonuses. Sound familiar? It was directed and written by J. C. Chandor, who comes from a background in commercials and docos but, more importantly, whose father worked for Merrill Lynch for 30 years. I reckon young Chandor was taking notes at the family dinner table.

There seems to be a spate of films featuring unlikeable characters at the moment and this is one of them. Eric Dale (Stanley Tucci) is a risk management division head for a Wall Street company and he has just been given his marching orders. Like many employees who work for a corporation, he is the victim of downsizing. As he is escorted from the building, he hands a USB stick to a younger colleague, Peter Sullivan (Zachary Quinto – who sports the most sculptured eyebrows you are likely to see on screen!) warning him to “be careful” with the information.

Realising that the information passed on is dynamite with a lit fuse, a night of financial horror commences. Peter contacts his boss, Will Emerson (Paul Bettany - a jaded, but totally fatalistic financier), who in turn contacts his boss, Sam Rogers (Kevin Spacey – in one of his best roles to date), who is more concerned about the imminent death of his dog. Sam in turn contacts the next in line, Jared Cohen (Simon Baker – as cold as ice and exquisitely attired) and his ally, head of HR Sarah Robertson (Demi Moore – who is also looking good), who then call for the CEO John Tuld (Jeremy Irons – in a role that almost outdoes his performance as Claus von Bulow in Reversal of Fortune), who flies in by helicopter in the wee small hours of the morning to attempt to shore up the company and his own future, at whatever cost. What follows is an eye-opening exercise in deceit, greed and betrayal.

The excellent score by Nathan Larson (Boys Don’t Cry, Little Fish, The Messenger) adds tension to the claustrophobic atmosphere in the gleaming office tower that houses much of the action, as does the tight lensing by Frank G. DeMarco (Headwig and the Angry Inch, Shortbus). Add a stellar cast and a fine script and Margin Call is a very watchable 107 minutes. It is guaranteed to make you seriously reconsider those shares you bought in good faith, in the hope that you may turn a profit in your retirement. Go forth and sell, I reckon… you have been warned.

// SALT
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