Scripts
MARGIN CALL poster

2010

MARGIN CALL script

On the eve of the 2008 financial crisis, a major investment bank begins mass layoffs, including Eric Dale, head of risk management, who passes a USB drive with his unfinished work to junior analyst Peter Sullivan. Peter discovers that the firm's toxic mortgage-backed securities are poised to bankrupt the company, prompting a late-night meeting with senior executives, including Sam Rogers and CEO John Tuld. Tuld decides to immediately sell off all the firm's toxic assets, knowing it will devastate their clients and the market, but will save the company. The next morning, the firm executes a fire sale of their assets, causing massive losses for their clients and triggering a market collapse, while sacrificing Chief Risk Management Officer Sarah Robertson as a scapegoat.

Writer
J.C. Chandor
IMDb ID (imdb_id)
tt1615147
Script date
July 12, 2010
68Scenes
11Characters
73Pages
8Dialogue samples

Save the Cat beat sheet

MARGIN CALL Save the Cat analysis

Margin Call follows the collapsing events of an investment bank over a 24-hour period, as junior analyst Peter Sullivan uncovers a fatal risk model.

Open full beat sheet
60

Key characters

Peter Sullivan

Peter Sullivan is listed as Risk Assessment Analyst. 27-year-old, Doctorate from MIT, former rocket scientist. In the parsed data, Peter Sullivan is connected to 34 scenes, 166 dialogue lines, 171 text mentions, first appearing around scene 1.

34 scenes / 166 dialogue lines

Will Emerson

Will Emerson is listed as Head of Trading. Energetic, sympathetic superior to Peter and Seth. In the parsed data, Will Emerson is connected to 30 scenes, 246 dialogue lines, 251 text mentions, first appearing around scene 1.

30 scenes / 246 dialogue lines

Seth Bregman

Seth Bregman is listed as Junior Analyst. Young analyst in his early twenties. In the parsed data, Seth Bregman is connected to 29 scenes, 139 dialogue lines, 141 text mentions, first appearing around scene 1.

29 scenes / 139 dialogue lines

Sam Rogers

Sam Rogers is listed as Executive. 57-year-old executive, long-term employee. In the parsed data, Sam Rogers is connected to 26 scenes, 142 dialogue lines, 142 text mentions, first appearing around scene 6.

26 scenes / 142 dialogue lines

Jared Cohen

Jared Cohen is listed as Head of Fixed Income. 43-year-old, boyish looking, intensely confident. In the parsed data, Jared Cohen is connected to 18 scenes, 85 dialogue lines, 87 text mentions, first appearing around scene 25.

18 scenes / 85 dialogue lines

Sarah Robertson

Sarah Robertson is listed as Chief Risk Management Officer. Serious, classically beautiful, power suit. In the parsed data, Sarah Robertson is connected to 17 scenes, 52 dialogue lines, 54 text mentions, first appearing around scene 8.

17 scenes / 52 dialogue lines

Eric Dale

Eric Dale is listed as Risk Management Head. 52-year-old, 19 years of service, laid off. In the parsed data, Eric Dale is connected to 7 scenes, 83 dialogue lines, 95 text mentions, first appearing around scene 3.

7 scenes / 83 dialogue lines

John Tuld

John Tuld is listed as CEO. Late fifties, bald, intense, powerful. In the parsed data, John Tuld is connected to 6 scenes, 96 dialogue lines, 98 text mentions, first appearing around scene 45.

6 scenes / 96 dialogue lines

Ramesh Shah

Ramesh Shah is listed as Number Cruncher. 60-year-old, Sarah's right-hand man. In the parsed data, Ramesh Shah is connected to 3 scenes, 9 dialogue lines, 10 text mentions, first appearing around scene 25.

3 scenes / 9 dialogue lines

Heather

Heather is listed as Human Resources. HR employee responsible for layoffs. In the parsed data, Heather is connected to 3 scenes, 8 dialogue lines, 8 text mentions, first appearing around scene 1.

3 scenes / 8 dialogue lines

Lauren Bratberg

Lauren Bratberg is listed as Human Resources Lawyer. Senior HR representative. In the parsed data, Lauren Bratberg is connected to 1 scene, 6 dialogue lines, 6 text mentions, first appearing around scene 3.

1 scenes / 6 dialogue lines

Scene outline

  1. 1. INT. LARGE INVESTMENT BANK TRADING FLOOR - DAY

    HR staff conducts mass layoffs on the trading floor while Peter and Seth observe.

    Peter Sullivan, Seth Bregman, Will Emerson, Heather
  2. 2. INT. ERIC DALE'S OFFICE - CONTINUOUS

    Heather informs Eric Dale he is being laid off.

    Heather, Eric Dale
  3. 3. INT. TRADING FLOOR MEETING ROOM - CONTINUOUS

    Eric Dale is formally laid off by HR and Lauren Bratberg.

    Heather, Eric Dale, Lauren Bratberg
  4. 4. INT. ERIC DALE'S OFFICE - CONTINUOUS

    Eric packs his belongings and speaks with Will Emerson.

    Will Emerson, Eric Dale
  5. 5. INT. TRADING FLOOR ELEVATOR BANK - CONTINUOUS

    Eric gives Peter a hard drive containing his unfinished work.

    Peter Sullivan, Eric Dale
  6. 6. INT. SAM ROGERS' OFFICE - CONTINUOUS

    Sam Rogers and Will Emerson discuss the layoffs and Sam's personal life.

    Will Emerson, Sam Rogers
  7. 7. INT. TRADING FLOOR - CONTINUOUS

    Sam Rogers addresses the remaining employees.

    Sam Rogers
  8. 8. EXT. INVESTMENT BANK BUILDING PLAZA - EVENING

    Eric confronts Sarah Robertson outside the building.

    Eric Dale, Sarah Robertson
  9. 9. INT. TRADING FLOOR - EVENING

    Peter begins analyzing the data on the hard drive.

    Peter Sullivan, Seth Bregman
  10. 10. INT. TRADING FLOOR - NIGHT

    Peter discovers the severity of the firm's financial situation.

    Peter Sullivan
  11. 11. INT. TRADING FLOOR - NIGHT

    Peter calls Seth and Will to return to the office.

    Peter Sullivan, Seth Bregman, Will Emerson
  12. 12. INT. TRADING FLOOR - NIGHT

    Peter, Seth, and Will review the data.

    Peter Sullivan, Seth Bregman, Will Emerson
  13. 13. INT. WILL EMERSON'S OFFICE - NIGHT

    Will attempts to contact Eric and calls Sam.

    Peter Sullivan, Seth Bregman, Will Emerson
  14. 14. INT. SAM ROGERS' CAR - NIGHT

    Will calls Sam to inform him of the crisis.

    Will Emerson, Sam Rogers
  15. 15. INT. BACKSEAT OF A BLACK LINCOLN TOWN CAR - NIGHT

    Seth and Peter travel to find Eric.

    Peter Sullivan, Seth Bregman
  16. 16. INT. BACKSEAT OF A BLACK LINCOLN TOWN CAR - NIGHT

    Seth and Peter discuss their work and the impending financial crisis while riding in a car.

    Seth Bregman, Peter Sullivan
  17. 17. INT. TRADING FLOOR - NIGHT

    Sam Rogers arrives at the office to meet Will Emerson.

    Sam Rogers, Will Emerson
  18. 18. INT. WILL EMERSON'S OFFICE - NIGHT

    Will explains the situation regarding Eric Dale and the discovery Peter made.

    Sam Rogers, Will Emerson
  19. 19. INT. UPSCALE CABARET CLUB - NIGHT

    Peter and Seth wait at a club while Will tries to reach them.

    Peter Sullivan, Seth Bregman
  20. 20. EXT. THE TOWNCAR IN TRAFFIC - NIGHT

    Peter and Seth are stuck in traffic.

    Peter Sullivan, Seth Bregman
  21. 21. INT. BACKSEAT OF A BLACK LINCOLN TOWNCAR - NIGHT

    Peter and Seth discuss the salaries of their superiors.

    Peter Sullivan, Seth Bregman
  22. 22. INT. TRADING FLOOR ELEVATOR BANK - NIGHT

    Will and Sam intercept Peter and Seth.

    Will Emerson, Sam Rogers, Peter Sullivan, Seth Bregman
  23. 23. INT. ELEVATOR - NIGHT

    The group travels to a meeting.

    Will Emerson, Sam Rogers, Peter Sullivan, Seth Bregman
  24. 24. INT. HALLWAY BY JARED'S CONFERENCE ROOM - NIGHT

    The group walks to the conference room.

    Will Emerson, Sam Rogers, Peter Sullivan, Seth Bregman
  25. 25. INT. JARED'S CONFERENCE ROOM - NIGHT

    The team presents the findings to Jared Cohen.

    Jared Cohen, Sarah Robertson, Ramesh Shah, Sam Rogers, Will Emerson, Peter Sullivan
  26. 26. INT. CORNER OUTSIDE JARED'S CONFERENCE ROOM - NIGHT

    Peter, Seth, and Will wait outside.

    Will Emerson, Peter Sullivan, Seth Bregman
  27. 27. INT. JARED'S CONFERENCE ROOM - NIGHT

    Jared and Sam discuss the next steps.

    Jared Cohen, Sam Rogers
  28. 28. EXT. ROOFTOP - NIGHT

    Peter, Seth, and Will smoke on the roof.

    Will Emerson, Peter Sullivan, Seth Bregman
  29. 29. INT. JARED'S FLOOR ELEVATOR BANK - NIGHT

    Jared and Sarah wait for the elevator.

    Jared Cohen, Sarah Robertson
  30. 30. INT. ELEVATOR - NIGHT

    Jared and Sarah discuss the validity of the findings.

    Jared Cohen, Sarah Robertson
  31. 31. EXT. ROOFTOP - NIGHT

    Will sits on the edge of the roof.

    Will Emerson, Peter Sullivan, Seth Bregman
  32. 39. EXT. ROOFTOP - CONTINUOUS

    Will, Peter, and Seth discuss the fear of jumping, the firm's plan to dump assets, and Will's spending habits before a helicopter arrives.

    Will Emerson, Peter Sullivan, Seth Bregman
  33. 40. INT. JARED COHEN'S CORNER OFFICE - CONTINUOUS

    Jared, Sam, and Sarah discuss the broken formula and the firm's exposure.

    Jared Cohen, Sam Rogers, Sarah Robertson
  34. 41. INT. OUTSIDE JARED'S OFFICE - CONTINUOUS

    Sarah and Jared walk through the office.

    Sarah Robertson, Jared Cohen
  35. 42. INT. FREIGHT ELEVATOR HALLWAY - CONTINUOUS

    Jared and Sarah meet Will, Peter, and Seth.

    Jared Cohen, Sarah Robertson, Will Emerson, Peter Sullivan, Seth Bregman
  36. 43. INT. OTHER HALLWAY - CONTINUOUS

    Jared gives advice to the group before entering the meeting.

    Jared Cohen, Sarah Robertson, Will Emerson, Peter Sullivan, Seth Bregman
  37. 44. INT. ELEVATOR BANK OUTSIDE JARED'S CONFERENCE ROOM - CONTINUOUS

    The group is escorted to the conference room.

    Jared Cohen, Sarah Robertson, Will Emerson, Peter Sullivan, Seth Bregman
  38. 45. INT. CEO'S EXECUTIVE BOARDROOM - CONTINUOUS

    John Tuld meets with the team to discuss the crisis and the plan to sell the assets.

    John Tuld, Jared Cohen, Sam Rogers, Sarah Robertson, Ramesh Shah, Will Emerson
  39. 46. INT. CEO'S ANTEROOM - CONTINUOUS

    John Tuld and Sam Rogers discuss the morality and future of the firm.

    John Tuld, Sam Rogers
  40. 47. INT. CEO'S GREETING LOUNGE - CONTINUOUS

    Sam informs the team that the firm will likely proceed with the sale.

    Sam Rogers, Will Emerson, Peter Sullivan, Seth Bregman
  41. 48. INT. CEO'S TOP FLOOR ELEVATOR BANK - CONTINUOUS

    Jared and Sarah wait for the elevator.

    Jared Cohen, Sarah Robertson
  42. 49. INT. ELEVATOR - CONTINUOUS

    Jared and Sarah discuss the strategy.

    Jared Cohen, Sarah Robertson
  43. 49. INT. SARAH ROBERTSON'S OFFICE - DAY

    Sarah Robertson and Jared Cohen discuss the impending crisis and their shared fate.

    Sarah Robertson, Jared Cohen
  44. 50. INT. JARED'S FLOOR ELEVATOR BANK - CONTINUOUS

    Sarah threatens Jared.

    Jared Cohen, Sarah Robertson
  45. 50. INT. WILL EMERSON'S OFFICE - DAY

    Will, Seth, and Peter discuss Tuld's salary and the situation with Eric Dale.

    Will Emerson, Seth Bregman, Peter Sullivan, Sam Rogers
  46. 51. INT. WILL EMERSON'S OFFICE - CONTINUOUS

    Will, Seth, and Peter eat breakfast.

    Will Emerson, Seth Bregman, Peter Sullivan
  47. 51. INT. SARAH ROBERTSON'S OFFICE - DAY

    John Tuld informs Sarah that she is the one being sacrificed to the board.

    John Tuld, Sarah Robertson
  48. 52. INT. PARKING GARAGE - NIGHT

    Jared Cohen confronts Will and Seth about Sam's loyalty.

    Will Emerson, Seth Bregman, Jared Cohen
  49. 53. INT. TRADING FLOOR - MORNING

    The empty trading floor.

  50. 54. INT. SAM'S OFFICE - CONTINUOUS

    Sam wakes up in his office.

    Sam Rogers
  51. 55. INT. TRADING FLOOR MENS ROOM - CONTINUOUS

    John Tuld confronts Sam in the bathroom.

    Sam Rogers, John Tuld
  52. 56. EXT. CITY STREETS - MORNING

    Peter walks through the empty city.

    Peter Sullivan
  53. 57. EXT. STREET CART - MORNING

    Peter encounters Lucy at a coffee cart.

    Peter Sullivan
  54. 58. INT. SARAH ROBERTSON'S OFFICE - DAY

    Sarah attempts to cry but cannot.

    Sarah Robertson
  55. 59. I/E. ERIC'S TOWNHOUSE - DAY

    Will and Seth arrive at Eric's house.

    Will Emerson, Seth Bregman
  56. 59. EXT. BUILDING ROOFTOP - DAY

    Sam and Peter discuss the firm's impending collapse and their personal lives while on the roof.

    Peter Sullivan, Sam Rogers
  57. 60. EXT. ERIC DALE'S TOWNHOUSE - DAY

    Will tries to convince Eric to return to the firm.

    Will Emerson, Eric Dale
  58. 60. INT. LOBBY ENTRANCE - CONTINUOUS

    Sam and Peter walk through the lobby.

    Peter Sullivan, Sam Rogers
  59. 61. INT. WILL EMERSON'S CONVERTIBLE - DAY

    Will and Seth discuss their future and the nature of their work.

    Will Emerson, Seth Bregman
  60. 61. INT. ELEVATOR - CONTINUOUS

    Sam wishes Peter luck in the elevator.

    Peter Sullivan, Sam Rogers
  61. 62. EXT. STREET LEVEL PLAZA - DAY

    Peter and Sam talk on the plaza.

    Peter Sullivan, Sam Rogers
  62. 62. INT. EXECUTIVE BATHROOM STALL - DAY

    Seth is crying in a stall; Jared enters to shave.

    Seth Bregman, Jared Cohen
  63. 63. INT. EXECUTIVE QUARANTINE ROOM - DAY

    Sarah and Eric wait in the quarantine room.

    Eric Dale, Sarah Robertson
  64. 64. INT. VIP TRADING ROOM - 6:30 AM

    Sam addresses the traders about the fire sale.

    Will Emerson, Sam Rogers, Jared Cohen
  65. 65. INT. TRADING FLOOR - 8:20 AM

    John Tuld addresses the trading floor.

    Sam Rogers, John Tuld
  66. 66. INT. SAM ROGER'S OFFICE - 4:02 PM

    Sam watches the market close and Jared informs him of layoffs.

    Sam Rogers, Jared Cohen
  67. 67. INT. SENIOR EXECUTIVE DINING ROOM - MOMENTS LATER

    Sam tells Tuld he wants out.

    Peter Sullivan, Sam Rogers, Jared Cohen, John Tuld
  68. 68. EXT. SUBURBAN NYC BACKYARD - 11:00 PM

    Sam buries his dog in his ex-wife's backyard.

    Sam Rogers

Dialogue examples

You are all still here for a reason... Most of this floor was just sent home... forever. We have spent the last hour saying good-bye... they were good people and they were good at their jobs... but you all were better. Now they are gone. They are not to be thought of again. This is your opportunity. On every floor of this building and in every office from Hong Kong to London the same thing is happening. Before this is all done 3 of every ten guys who were standing between you and your boss's job are now gone. That is your opportunity. I've been at this place for thirty-four years and let me tell you that this will not be the last time you go through this. But you all are survivors... And that is how this firm over 107 years has always continued to grow stronger. So hold your heads high... and get back to work.

Sam Rogers / Scene 7

Whatever, same thing, I made almost a quarter of a million dollars last year... for what... pushing some numbers around on a computer screen, so a bunch of glorified crack addicts could take that information and pretend to understand it, and then make a bet against some other jock half way around the world who if he wasn't doing this would probably be in some OTB somewhere putting it all on number seven. And at the end of the day one guy loses and the other guy wins.

Seth Bregman / Scene 16

Look, If you want to do this with your life, and do it well, you need to believe that you are necessary. And you are. If people want to live like this...with their big cars and these houses that they haven't even paid for. Then you are necessary. The only reason they can continue to live like kings is because we've got our fingers on the scale in THEIR favor. And if I were to take my finger off...

Will Emerson / Scene 61

I completed that project in 1986... 22 years ago. Over the life of that one bridge that's 6 billion... 708 million... 240 thousand miles that haven't had to be driven! At let's say... 50 miles an hour that's 134,164,800 hours... or 559,020 days... so that one little bridge has saved the people of those two communities a combined 1531 years of their lives not wasted in the car... give or take.

Eric Dale / Scene 60

Now Mr. Sullivan what I am guessing, and give me a little rope here, what I am guessing that your report here says is that considering the, shall we say bumpy road, we've been on the last week or so that the numbers that your brilliant co-workers up the line ahead of you had come up with in the past don't seem to make much sense anymore considering what's taking place today?

John Tuld / Scene 45

Now, unfortunately Mr. Dale due to the highly sensitive nature of your work here the firm has to take certain precautions for security purposes that may seem punitive in nature. I hope considering your over 19 years of service to the firm, you will understand that these measures are in no way a reflection of the firms' feelings towards your performance or your character.

Lauren Bratberg / Scene 3

Welcome everyone. I must apologize for dragging you all here at such an uncommon hour but from what I've been told this matter needs to be handled urgently, so urgently in fact that it probably should have been addressed weeks ago... but that is spilt milk under the bridge. So why doesn't someone please try to explain to me what's the problem here?

John Tuld / Scene 45

What have I told you since the first day you walked into my office? That there are three ways to make a living in this business... Be first, be smarter, or cheat. Well I don't cheat, and even though I like to think we have got some pretty smart people in this building of the two remaining options, it sure is a hell of alot easier to just be first.

John Tuld / Scene 45

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