Kevin Spacey plays Wall Street trader in "Margin Call."
“The ground is shifting below our feet and apparently there’s no other way out,” say characters in the star-studded vehicle “Margin Call,” (playing now in Special Engagements). This film about the financial crisis of 2008 and how it brought Wall Street to its knees and created a ripple effect still being felt around the world is instantly reminiscent of “Too Big to Fail,” which was nominated for 11 prime-time Emmys.
“Margin Call” has Kevin Spacey as the 34-year-veteran of the financial world who sends traders onto the floor to do business each day. Company head honcho Jeremy Irons needs Spacey to help facilitate a plan to sell off worthless securities, once Stanley Tucci and a young protégé, played by Zachary Quinto (Spock in 2009’s “Star Trek”) discover that the projected losses the formulas predict are greater than the financial worth of the company. Can the traders go forth and sell all this junk in fire sale fashion without the rest of Wall Street getting wise? Not easily, says Spacey to Irons, and, he adds, “You will never sell anything to any of those buyers ever again.” He adds, “This one is very ugly” and tries to quit, saying, “I think this will destroy this firm. You’re knowingly putting people out of business.” Irons needs Spacey standing by him for at least 24 months and Paul Bettany, next man down, does not seem willing to step into Spacey’s shoes and take part in what is described as “professional suicide” (A mercy killing, really,” says Spacey.)
It doesn’t help that, as this Lionsgate film opens, 80% of the staffers, including Tucci who found this imminent disaster scenario and is one of the few who totally understands what is already beginning to occur, is being shown the door. He seems anything but eager to return to help the firm out when the s*** hits the fan. Tucci had reported the discrepancies to his superior (a brittle, dour Demi Moore) earlier, but she and Simon Baker had soft-pedaled it to the big boss(es).
The firm tells its traders that, if they sell 93% of their assets, they get a $1.4 million personal bonus, and if the entire floor hits 93.1% sales, all will get another $1.3 million bonus and, as Irons says, “There’s always been fat cats and starving dogs and the percentage will stay exactly the same.” Irons, the big boss, also notes, “There’s gonna’ be a lot of money made coming out of this mess” and says, “it’s certainly no different today than it’s ever been. “ He notes of the fat cats, “We’ve got our fingers on the scales to help them.”
Written and directed by J.C. Chandor, the ads note that, to win, you need to either (1) Be first (2) Be smarter, or (3) Cheat. When Jeremy Irons’ character says to Spacey’s, “Where is this going to come back to us?” Spacey responds, “Everywhere.”
An all-star cast includes Kevin Spacey, Jeremy Irons, Paul Bettany, Simon Baker, Stanley Tucci, Demi Moore, Zachary Quinto, Penn Badgley and Mary McDonnell, plus Ella the chocolate brown Labrador retriever that humanizes Spacey as he knowingly helps dump $8 trillion of bad paper around the world before Armageddon. Favorite line (re the explanation of the financial machinations): “Speak as you would to a young child or a golden retriever.”)
A bit talky, but engrossing and your cynicism will rise by at least 93%.