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The Banker (2020) EN

theaceboyyat Mar 25th, 2020 29 Never
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  1. 1
  2. 00:00:08,926 --> 00:00:12,471
  3. {\an8}<i>Today the United States Senate Committee
  4. on Government Operations</i>
  5.  
  6. 2
  7. 00:00:12,554 --> 00:00:15,098
  8. {\an8}<i>begins hearings
  9. on federally insured banks.</i>
  10.  
  11. 3
  12. 00:00:16,308 --> 00:00:20,020
  13. <i>We are concerned whether existing laws
  14. are adequate to guarantee</i>
  15.  
  16. 4
  17. 00:00:20,103 --> 00:00:24,566
  18. <i>the character, experience, and integrity
  19. of people who acquire such banks,</i>
  20.  
  21. 5
  22. 00:00:25,692 --> 00:00:28,529
  23. <i>which are the cornerstones
  24. of American capitalism</i>
  25.  
  26. 6
  27. 00:00:29,321 --> 00:00:31,323
  28. <i>and the foundation of the American dream.</i>
  29.  
  30. 7
  31. 00:00:57,808 --> 00:01:01,812
  32. <i>Be careful in there, Bernard.
  33. They want to make an example out of you.</i>
  34.  
  35. 8
  36. 00:01:16,702 --> 00:01:19,371
  37. Committee calls Bernard S. Garrett
  38. to testify.
  39.  
  40. 9
  41. 00:01:21,915 --> 00:01:24,668
  42. Mr. Garrett,
  43. I think you understand the stakes.
  44.  
  45. 10
  46. 00:01:33,552 --> 00:01:34,845
  47. {\an8}Carlyle and Spring?
  48.  
  49. 11
  50. 00:01:34,928 --> 00:01:38,223
  51. {\an8}Right. Annual rental income 80,000,
  52. which is strong,
  53.  
  54. 12
  55. 00:01:38,307 --> 00:01:40,976
  56. but Mr. Miller wants us
  57. to use a six multiplier to value it.
  58.  
  59. 13
  60. 00:01:41,059 --> 00:01:42,436
  61. That's too high.
  62.  
  63. 14
  64. 00:01:42,519 --> 00:01:45,731
  65. He's coming in an hour to negotiate on it.
  66. Maybe you can step in.
  67.  
  68. 15
  69. 00:01:45,814 --> 00:01:46,815
  70. All right.
  71.  
  72. 16
  73. 00:01:50,694 --> 00:01:52,321
  74. Boy does a pretty good shine.
  75.  
  76. 17
  77. 00:01:52,905 --> 00:01:54,281
  78. Harder worker than most of 'em.
  79.  
  80. 18
  81. 00:02:07,753 --> 00:02:09,073
  82. There may not be comps in Willis,
  83.  
  84. 19
  85. 00:02:09,128 --> 00:02:11,715
  86. but take a look at
  87. the other properties I own in the county.
  88.  
  89. 20
  90. 00:02:11,798 --> 00:02:13,300
  91. A six multiple is reasonable.
  92.  
  93. 21
  94. 00:02:14,218 --> 00:02:17,930
  95. Your other buildings are in Conroe,
  96. which is booming with the oil find.
  97.  
  98. 22
  99. 00:02:18,013 --> 00:02:20,599
  100. So, I'm not sure this is a good comp.
  101.  
  102. 23
  103. 00:02:21,266 --> 00:02:22,267
  104. Willis is booming too.
  105.  
  106. 24
  107. 00:02:22,351 --> 00:02:24,186
  108. Hey! What are you doing up there, boy?
  109.  
  110. 25
  111. 00:02:24,269 --> 00:02:26,396
  112. You spying on these
  113. white people's business?
  114.  
  115. 26
  116. 00:02:33,070 --> 00:02:34,071
  117. Get back here!
  118.  
  119. 27
  120. 00:02:36,406 --> 00:02:37,908
  121. Your dad's gonna hear about this!
  122.  
  123. 28
  124. 00:02:37,991 --> 00:02:38,992
  125. Hey! Watch it, boy!
  126.  
  127. 29
  128. 00:02:59,304 --> 00:03:02,891
  129. What do you think them white folks would
  130. do if they knew you were spying on them?
  131.  
  132. 30
  133. 00:03:04,768 --> 00:03:07,062
  134. When I was growing up
  135. I've seen boys killed for less.
  136.  
  137. 31
  138. 00:03:09,857 --> 00:03:12,860
  139. You know what it's like to see a young boy
  140. hanging dead from a tree?
  141.  
  142. 32
  143. 00:03:14,236 --> 00:03:17,614
  144. And don't think because it hasn't happened
  145. recently, it couldn't happen again.
  146.  
  147. 33
  148. 00:03:17,698 --> 00:03:19,741
  149. I was just trying to learn
  150. how they make money.
  151.  
  152. 34
  153. 00:03:24,621 --> 00:03:26,915
  154. You are so talented.
  155.  
  156. 35
  157. 00:03:27,833 --> 00:03:29,418
  158. How did you learn all this?
  159.  
  160. 36
  161. 00:03:34,006 --> 00:03:35,757
  162. You was born the wrong color, son.
  163.  
  164. 37
  165. 00:03:35,841 --> 00:03:37,676
  166. Negro man can't earn money with this.
  167.  
  168. 38
  169. 00:03:37,759 --> 00:03:40,262
  170. White man won't let him,
  171. no matter how good at it you are.
  172.  
  173. 39
  174. 00:03:42,181 --> 00:03:43,557
  175. Maybe not in Texas.
  176.  
  177. 40
  178. 00:03:46,143 --> 00:03:49,354
  179. You really think it's gonna be different
  180. for you, you go somewhere else?
  181.  
  182. 41
  183. 00:04:30,103 --> 00:04:32,022
  184. We're in California.
  185.  
  186. 42
  187. 00:04:34,900 --> 00:04:35,901
  188. What's wrong?
  189.  
  190. 43
  191. 00:04:37,402 --> 00:04:40,155
  192. Just looking forward
  193. to having dinner with your uncle.
  194.  
  195. 44
  196. 00:04:43,784 --> 00:04:46,745
  197. Well, the aircraft companies are booming.
  198.  
  199. 45
  200. 00:04:47,287 --> 00:04:51,166
  201. Northrop is looking to hire 5,000
  202. new workers for their assembly line
  203.  
  204. 46
  205. 00:04:51,250 --> 00:04:53,001
  206. and they hire our kind.
  207.  
  208. 47
  209. 00:04:53,085 --> 00:04:55,254
  210. And I can get you
  211. an interview there tomorrow.
  212.  
  213. 48
  214. 00:04:55,337 --> 00:04:58,465
  215. Well, thank you, sir. But I came here
  216. to try my hand at real estate.
  217.  
  218. 49
  219. 00:04:59,007 --> 00:05:01,468
  220. There's not a lot
  221. of colored real estate agents.
  222.  
  223. 50
  224. 00:05:01,552 --> 00:05:03,095
  225. Owning property and renting it out.
  226.  
  227. 51
  228. 00:05:05,430 --> 00:05:06,932
  229. You married a millionaire, Eunice?
  230.  
  231. 52
  232. 00:05:08,183 --> 00:05:09,183
  233. Deacon.
  234.  
  235. 53
  236. 00:05:11,770 --> 00:05:13,480
  237. Well, I sure hope you're close, son.
  238.  
  239. 54
  240. 00:05:13,939 --> 00:05:15,858
  241. This isn't some one-horse town in Texas.
  242.  
  243. 55
  244. 00:05:15,941 --> 00:05:17,568
  245. Real estate is expensive here.
  246.  
  247. 56
  248. 00:05:18,277 --> 00:05:21,572
  249. Bernard saved up money
  250. from a company we started in Houston.
  251.  
  252. 57
  253. 00:05:22,865 --> 00:05:26,326
  254. So, what do you plan to do
  255. until you find something you can afford?
  256.  
  257. 58
  258. 00:05:26,410 --> 00:05:27,494
  259. Keep looking.
  260.  
  261. 59
  262. 00:05:27,578 --> 00:05:29,705
  263. And spend down your savings
  264. till they're gone?
  265.  
  266. 60
  267. 00:05:30,289 --> 00:05:31,623
  268. And then can't pay your rent?
  269.  
  270. 61
  271. 00:05:31,707 --> 00:05:33,083
  272. Deacon, stop.
  273.  
  274. 62
  275. 00:05:34,334 --> 00:05:36,420
  276. You'll get your rent
  277. the first of every month,
  278.  
  279. 63
  280. 00:05:36,503 --> 00:05:37,963
  281. one month in advance.
  282.  
  283. 64
  284. 00:05:38,589 --> 00:05:40,382
  285. I should go get Bernard Jr. in bed.
  286.  
  287. 65
  288. 00:05:41,341 --> 00:05:42,342
  289. Excuse me.
  290.  
  291. 66
  292. 00:05:55,314 --> 00:05:57,608
  293. <i>Eunice, what does your husband have
  294. against working?</i>
  295.  
  296. 67
  297. 00:05:58,066 --> 00:06:01,612
  298. If we need to supplement our income
  299. until he finds the right property,
  300.  
  301. 68
  302. 00:06:01,695 --> 00:06:03,322
  303. I'll work at the Plantation Club.
  304.  
  305. 69
  306. 00:06:03,405 --> 00:06:05,657
  307. That ain't no place
  308. for a married woman to work.
  309.  
  310. 70
  311. 00:06:05,741 --> 00:06:07,260
  312. Bernard okay with you going back there?
  313.  
  314. 71
  315. 00:06:07,284 --> 00:06:09,161
  316. Well, we haven't had a chance
  317. to discuss it.
  318.  
  319. 72
  320. 00:06:10,037 --> 00:06:11,705
  321. If he's a real man, he won't let you.
  322.  
  323. 73
  324. 00:06:11,788 --> 00:06:13,582
  325. That won't be for him to decide.
  326.  
  327. 74
  328. 00:06:14,249 --> 00:06:15,375
  329. What does that mean?
  330.  
  331. 75
  332. 00:06:16,793 --> 00:06:18,837
  333. My husband is a genius.
  334.  
  335. 76
  336. 00:06:18,921 --> 00:06:19,921
  337. You'll see.
  338.  
  339. 77
  340. 00:06:30,807 --> 00:06:32,392
  341. I know this isn't much.
  342.  
  343. 78
  344. 00:06:32,476 --> 00:06:34,311
  345. Yeah, I don't plan on us being here long.
  346.  
  347. 79
  348. 00:06:35,312 --> 00:06:36,855
  349. Why are you so hard on yourself?
  350.  
  351. 80
  352. 00:06:36,939 --> 00:06:39,441
  353. I don't want Bernard Jr.
  354. Growing up in a shed.
  355.  
  356. 81
  357. 00:06:40,859 --> 00:06:43,403
  358. Well, I grew up in a shed.
  359.  
  360. 82
  361. 00:06:44,238 --> 00:06:46,448
  362. Abraham Lincoln grew up in a shed.
  363.  
  364. 83
  365. 00:06:46,532 --> 00:06:48,575
  366. Abraham Lincoln grew up in a log cabin.
  367.  
  368. 84
  369. 00:06:48,659 --> 00:06:51,954
  370. Well, that's what they call a shed
  371. when it's in the woods.
  372.  
  373. 85
  374. 00:06:52,037 --> 00:06:53,664
  375. There's no difference.
  376.  
  377. 86
  378. 00:06:53,747 --> 00:06:56,333
  379. Well, I'm gonna get you and him
  380. out of this shed.
  381.  
  382. 87
  383. 00:06:58,126 --> 00:06:59,294
  384. As soon as possible.
  385.  
  386. 88
  387. 00:07:05,384 --> 00:07:06,385
  388. Thanks for the lift.
  389.  
  390. 89
  391. 00:07:06,468 --> 00:07:07,719
  392. No problem.
  393.  
  394. 90
  395. 00:07:07,803 --> 00:07:09,680
  396. I'm sorry my dad was such a jerk
  397. last night.
  398.  
  399. 91
  400. 00:07:10,097 --> 00:07:12,266
  401. Was he? I didn't notice.
  402.  
  403. 92
  404. 00:07:14,393 --> 00:07:15,769
  405. Hey, nice car.
  406.  
  407. 93
  408. 00:07:15,853 --> 00:07:16,687
  409. Thanks.
  410.  
  411. 94
  412. 00:07:16,770 --> 00:07:18,313
  413. Bernard, this is my friend Matt.
  414.  
  415. 95
  416. 00:07:18,397 --> 00:07:20,678
  417. You didn't tell me you had a rich uncle.
  418. Nice to meet you.
  419.  
  420. 96
  421. 00:07:20,732 --> 00:07:22,150
  422. Hardly rich. And I'm his cousin.
  423.  
  424. 97
  425. 00:07:22,776 --> 00:07:24,403
  426. You got a car, you're rich to me.
  427.  
  428. 98
  429. 00:07:25,696 --> 00:07:27,489
  430. Hey, good luck finding the right place.
  431.  
  432. 99
  433. 00:07:31,285 --> 00:07:32,369
  434. Hey.
  435.  
  436. 100
  437. 00:07:34,913 --> 00:07:36,665
  438. Hey, what's your cousin do for a living?
  439.  
  440. 101
  441. 00:07:37,291 --> 00:07:38,375
  442. He owns buildings.
  443.  
  444. 102
  445. 00:07:39,126 --> 00:07:40,169
  446. Really?
  447.  
  448. 103
  449. 00:07:40,544 --> 00:07:41,545
  450. Damn.
  451.  
  452. 104
  453. 00:07:50,304 --> 00:07:51,847
  454. <i>Hello, my name is Bernard Garrett.</i>
  455.  
  456. 105
  457. 00:07:51,930 --> 00:07:55,392
  458. <i>I saw your property on Victoria Road.
  459. I was wondering what the asking price...</i>
  460.  
  461. 106
  462. 00:07:55,475 --> 00:07:58,103
  463. <i>Hello, my name is Bernard Garrett.
  464. Are you the owner of 12...</i>
  465.  
  466. 107
  467. 00:07:58,187 --> 00:08:00,772
  468. <i>Hi, my name is Bernard Garrett.
  469. I'm a real estate investor.</i>
  470.  
  471. 108
  472. 00:08:00,856 --> 00:08:01,940
  473. <i>What's the asking price?</i>
  474.  
  475. 109
  476. 00:08:02,024 --> 00:08:03,024
  477. <i>That high?</i>
  478.  
  479. 110
  480. 00:08:03,066 --> 00:08:05,986
  481. <i>How can a price that high be sustainable,
  482. given the current rents...</i>
  483.  
  484. 111
  485. 00:08:06,069 --> 00:08:08,256
  486. <i>How many units are in the building
  487. and what are they really...</i>
  488.  
  489. 112
  490. 00:08:08,280 --> 00:08:09,924
  491. {\an8}<i>Looks to me
  492. the building needs a little work.</i>
  493.  
  494. 113
  495. 00:08:09,948 --> 00:08:11,116
  496. {\an8}<i>Maybe we can negotiate...</i>
  497.  
  498. 114
  499. 00:08:11,200 --> 00:08:13,619
  500. {\an8}<i>Right. I understand.
  501. Thank you for your time.</i>
  502.  
  503. 115
  504. 00:08:16,955 --> 00:08:18,874
  505. This is a white neighborhood, Bernard.
  506.  
  507. 116
  508. 00:08:18,957 --> 00:08:20,584
  509. Well, it won't be white for long.
  510.  
  511. 117
  512. 00:08:20,667 --> 00:08:24,087
  513. Not with the black neighborhood
  514. two blocks away bursting at the seams.
  515.  
  516. 118
  517. 00:08:25,506 --> 00:08:27,758
  518. Well, how much
  519. does Barker & Associates want for it?
  520.  
  521. 119
  522. 00:08:28,759 --> 00:08:30,344
  523. We have enough to buy it.
  524.  
  525. 120
  526. 00:08:30,427 --> 00:08:32,721
  527. Just won't have anything left over
  528. to fix it up with.
  529.  
  530. 121
  531. 00:08:34,014 --> 00:08:35,933
  532. What if I got us a co-investor?
  533.  
  534. 122
  535. 00:08:59,706 --> 00:09:02,376
  536. All right, fellows. That was smokin'.
  537.  
  538. 123
  539. 00:09:02,459 --> 00:09:03,585
  540. Joe!
  541.  
  542. 124
  543. 00:09:04,837 --> 00:09:06,296
  544. Eunice!
  545.  
  546. 125
  547. 00:09:06,380 --> 00:09:08,799
  548. You came back to me.
  549.  
  550. 126
  551. 00:09:10,592 --> 00:09:12,261
  552. Girl, look at you.
  553.  
  554. 127
  555. 00:09:12,344 --> 00:09:14,137
  556. Stop it. Behave now.
  557.  
  558. 128
  559. 00:09:14,221 --> 00:09:15,264
  560. Honey.
  561.  
  562. 129
  563. 00:09:17,015 --> 00:09:18,141
  564. Who's this?
  565.  
  566. 130
  567. 00:09:18,225 --> 00:09:20,644
  568. That uncle
  569. you was always talking to me about?
  570.  
  571. 131
  572. 00:09:21,311 --> 00:09:22,311
  573. Husband.
  574.  
  575. 132
  576. 00:09:22,521 --> 00:09:23,689
  577. Your hus... What?
  578.  
  579. 133
  580. 00:09:23,772 --> 00:09:24,857
  581. Wait.
  582.  
  583. 134
  584. 00:09:24,940 --> 00:09:26,316
  585. Three years.
  586.  
  587. 135
  588. 00:09:27,401 --> 00:09:28,777
  589. Congratulations, man.
  590.  
  591. 136
  592. 00:09:28,861 --> 00:09:29,987
  593. You hit the jackpot.
  594.  
  595. 137
  596. 00:09:30,070 --> 00:09:31,572
  597. If you're the marrying type.
  598.  
  599. 138
  600. 00:09:31,655 --> 00:09:36,535
  601. I'm not, but if I were,
  602. can't do no better than Eunice Perkins.
  603.  
  604. 139
  605. 00:09:36,618 --> 00:09:37,661
  606. Garrett.
  607.  
  608. 140
  609. 00:09:37,744 --> 00:09:39,246
  610. Pleased to meet you, Garrett.
  611.  
  612. 141
  613. 00:09:39,329 --> 00:09:40,455
  614. No, I'm Bernard.
  615.  
  616. 142
  617. 00:09:40,914 --> 00:09:42,934
  618. I heard him say "Garrett."
  619. Didn't you hear him say "Garrett"?
  620.  
  621. 143
  622. 00:09:42,958 --> 00:09:43,959
  623. That's what I heard.
  624.  
  625. 144
  626. 00:09:45,919 --> 00:09:47,588
  627. I'm just messing with you, man.
  628.  
  629. 145
  630. 00:09:47,671 --> 00:09:48,672
  631. You want a drink?
  632.  
  633. 146
  634. 00:09:48,755 --> 00:09:49,756
  635. It's 4:00 p.m.
  636.  
  637. 147
  638. 00:09:49,840 --> 00:09:51,466
  639. I know. You're starting late.
  640.  
  641. 148
  642. 00:09:51,550 --> 00:09:53,010
  643. I'll have 'em make it strong.
  644.  
  645. 149
  646. 00:09:53,093 --> 00:09:55,762
  647. Jackie, make my man here something strong.
  648.  
  649. 150
  650. 00:09:55,846 --> 00:09:56,847
  651. A triple.
  652.  
  653. 151
  654. 00:09:56,930 --> 00:09:59,183
  655. You know, see if we can blow
  656. the stick out of his ass.
  657.  
  658. 152
  659. 00:10:00,350 --> 00:10:03,103
  660. You did not even talk to him
  661. about your idea.
  662.  
  663. 153
  664. 00:10:03,187 --> 00:10:05,105
  665. No way am I doing business with that man.
  666.  
  667. 154
  668. 00:10:05,189 --> 00:10:07,649
  669. Not for a loan.
  670. Especially not as a business partner.
  671.  
  672. 155
  673. 00:10:07,733 --> 00:10:08,734
  674. He's a damn degenerate.
  675.  
  676. 156
  677. 00:10:08,817 --> 00:10:10,652
  678. Bernard, please!
  679.  
  680. 157
  681. 00:10:12,404 --> 00:10:13,780
  682. I don't need his help.
  683.  
  684. 158
  685. 00:10:16,200 --> 00:10:19,203
  686. You have got the wrong idea about him.
  687.  
  688. 159
  689. 00:10:19,286 --> 00:10:21,121
  690. Really? You think so?
  691.  
  692. 160
  693. 00:10:21,955 --> 00:10:24,082
  694. 'Cause the vice squad
  695. seems to disagree with you.
  696.  
  697. 161
  698. 00:10:25,125 --> 00:10:26,919
  699. Well, that's the mayor, silly.
  700.  
  701. 162
  702. 00:10:27,002 --> 00:10:29,338
  703. Do you wanna meet him?
  704. Because he's friends with Joe.
  705.  
  706. 163
  707. 00:10:31,173 --> 00:10:32,257
  708. No.
  709.  
  710. 164
  711. 00:10:33,467 --> 00:10:35,135
  712. If you won't let Joe invest,
  713.  
  714. 165
  715. 00:10:35,219 --> 00:10:37,888
  716. then you are gonna have to
  717. make Barker come down on his price.
  718.  
  719. 166
  720. 00:10:45,312 --> 00:10:47,189
  721. Asking price is 40,000.
  722.  
  723. 167
  724. 00:10:47,606 --> 00:10:49,233
  725. You won't get a penny over 35.
  726.  
  727. 168
  728. 00:10:49,316 --> 00:10:50,609
  729. You offering 35?
  730.  
  731. 169
  732. 00:10:50,692 --> 00:10:52,069
  733. I can give you 30.
  734.  
  735. 170
  736. 00:10:52,569 --> 00:10:55,072
  737. Why would I take 30 if I can get 35?
  738.  
  739. 171
  740. 00:10:55,155 --> 00:10:57,950
  741. Well, the building needs renovations
  742. to unlock its value.
  743.  
  744. 172
  745. 00:10:58,033 --> 00:10:59,409
  746. It's been fine for my tenants.
  747.  
  748. 173
  749. 00:10:59,493 --> 00:11:01,453
  750. Your tenants only occupy
  751. half the building.
  752.  
  753. 174
  754. 00:11:01,828 --> 00:11:04,289
  755. But with new kitchens
  756. and refinished floors...
  757.  
  758. 175
  759. 00:11:04,373 --> 00:11:08,168
  760. My tenants won't pay more even if they
  761. can see the reflections in those floors.
  762.  
  763. 176
  764. 00:11:08,252 --> 00:11:09,670
  765. But another market will.
  766.  
  767. 177
  768. 00:11:10,629 --> 00:11:13,340
  769. Black doctors, lawyers, teachers
  770.  
  771. 178
  772. 00:11:13,423 --> 00:11:16,802
  773. looking for a place to move outside
  774. the ghettos that they've been forced into.
  775.  
  776. 179
  777. 00:11:17,302 --> 00:11:19,096
  778. No one is going after that market.
  779.  
  780. 180
  781. 00:11:19,179 --> 00:11:20,180
  782. But I can.
  783.  
  784. 181
  785. 00:11:22,599 --> 00:11:24,434
  786. Your confidence is impressive.
  787.  
  788. 182
  789. 00:11:24,518 --> 00:11:28,230
  790. But 10,000 less than asking is not enough.
  791.  
  792. 183
  793. 00:11:28,313 --> 00:11:31,191
  794. Once I lease the units,
  795. I can give you your full asking price.
  796.  
  797. 184
  798. 00:11:31,275 --> 00:11:32,275
  799. Let's say by...
  800.  
  801. 185
  802. 00:11:33,485 --> 00:11:34,695
  803. June.
  804.  
  805. 186
  806. 00:11:34,778 --> 00:11:39,199
  807. You want me to loan you $10,000
  808. so you can buy my building?
  809.  
  810. 187
  811. 00:11:39,283 --> 00:11:40,868
  812. It's not a loan. It's an investment.
  813.  
  814. 188
  815. 00:11:40,951 --> 00:11:42,077
  816. It's a loan.
  817.  
  818. 189
  819. 00:11:42,661 --> 00:11:46,206
  820. For more than three times what the average
  821. American family make in a year.
  822.  
  823. 190
  824. 00:11:46,290 --> 00:11:48,500
  825. - Two point four times.
  826. - What?
  827.  
  828. 191
  829. 00:11:48,584 --> 00:11:53,172
  830. The average American income in 1953
  831. was $4,233.
  832.  
  833. 192
  834. 00:11:53,255 --> 00:11:56,508
  835. Ten thousand is 2.4 times
  836. the average income.
  837.  
  838. 193
  839. 00:11:58,468 --> 00:12:02,514
  840. Well, I admire your entrepreneurial gusto,
  841.  
  842. 194
  843. 00:12:02,598 --> 00:12:05,517
  844. but it's not the way I do business.
  845.  
  846. 195
  847. 00:12:06,935 --> 00:12:07,936
  848. I'm sorry.
  849.  
  850. 196
  851. 00:12:15,986 --> 00:12:17,654
  852. Thank you for your time, Mr. Barker.
  853.  
  854. 197
  855. 00:12:35,714 --> 00:12:37,508
  856. Look what just walked in.
  857.  
  858. 198
  859. 00:12:37,591 --> 00:12:39,009
  860. Mighty fancy for a colored fella.
  861.  
  862. 199
  863. 00:12:39,927 --> 00:12:40,927
  864. We'll see.
  865.  
  866. 200
  867. 00:12:41,595 --> 00:12:44,556
  868. Hi. I'm Bernard Garrett.
  869. I'd like to speak with Mr. Reed, please.
  870.  
  871. 201
  872. 00:12:44,640 --> 00:12:47,309
  873. I'm sorry, Mr. Reed is out.
  874. May I take a message?
  875.  
  876. 202
  877. 00:12:49,019 --> 00:12:52,940
  878. I have pretty good eyesight and I can
  879. clearly read the nameplate on his desk.
  880.  
  881. 203
  882. 00:12:54,399 --> 00:12:56,151
  883. I'm sorry. I misspoke.
  884.  
  885. 204
  886. 00:12:57,194 --> 00:12:58,946
  887. Mr. Reed can't meet with you right now.
  888.  
  889. 205
  890. 00:12:59,029 --> 00:13:00,280
  891. But I could take a message.
  892.  
  893. 206
  894. 00:13:02,157 --> 00:13:04,535
  895. No. There's no message.
  896.  
  897. 207
  898. 00:13:05,410 --> 00:13:06,411
  899. Thank you.
  900.  
  901. 208
  902. 00:13:15,587 --> 00:13:16,880
  903. Mr. Reed.
  904.  
  905. 209
  906. 00:13:16,964 --> 00:13:17,965
  907. Do I know you?
  908.  
  909. 210
  910. 00:13:18,048 --> 00:13:19,424
  911. No. But you know Mr. Barker.
  912.  
  913. 211
  914. 00:13:19,508 --> 00:13:21,385
  915. I'd like a loan
  916. to buy one of his buildings.
  917.  
  918. 212
  919. 00:13:21,468 --> 00:13:23,637
  920. Yeah, you can make
  921. an appointment inside, please.
  922.  
  923. 213
  924. 00:13:23,720 --> 00:13:26,765
  925. Well, you and I both know
  926. I'm not getting an appointment inside.
  927.  
  928. 214
  929. 00:13:27,766 --> 00:13:30,602
  930. Now, this deal will benefit Mr. Barker.
  931.  
  932. 215
  933. 00:13:31,562 --> 00:13:32,563
  934. You should hear me out.
  935.  
  936. 216
  937. 00:13:35,232 --> 00:13:37,651
  938. Your uncle gonna get a good laugh
  939. out of this one.
  940.  
  941. 217
  942. 00:13:40,362 --> 00:13:42,990
  943. Keep looking. You're gonna find yourself
  944. another building.
  945.  
  946. 218
  947. 00:13:44,157 --> 00:13:45,158
  948. Yeah.
  949.  
  950. 219
  951. 00:13:47,828 --> 00:13:49,454
  952. Come on. Time for bed, little man.
  953.  
  954. 220
  955. 00:13:50,289 --> 00:13:51,123
  956. Yes?
  957.  
  958. 221
  959. 00:13:51,206 --> 00:13:54,001
  960. Bernard, there's a phone call for you.
  961.  
  962. 222
  963. 00:13:59,006 --> 00:14:02,176
  964. - Hello?
  965. <i>- Mr. Garrett. This is Patrick Barker.</i>
  966.  
  967. 223
  968. 00:14:02,801 --> 00:14:07,723
  969. Did you use my name to try and get a loan
  970. from Mr. Reed at Mid City Bank?
  971.  
  972. 224
  973. 00:14:08,307 --> 00:14:09,975
  974. Well, in a manner of speaking...
  975.  
  976. 225
  977. 00:14:10,809 --> 00:14:11,809
  978. yes.
  979.  
  980. 226
  981. 00:14:12,519 --> 00:14:15,606
  982. And do you think that follows
  983. normal business customs?
  984.  
  985. 227
  986. 00:14:16,940 --> 00:14:18,775
  987. If I was following
  988. normal business customs,
  989.  
  990. 228
  991. 00:14:18,859 --> 00:14:20,903
  992. I'd still be a shoeshine boy
  993. in Texas, sir.
  994.  
  995. 229
  996. 00:14:20,986 --> 00:14:23,572
  997. I didn't ask for your biography,
  998. Mr. Garrett.
  999.  
  1000. 230
  1001. 00:14:23,655 --> 00:14:27,284
  1002. I asked if you thought
  1003. it followed normal business customs.
  1004.  
  1005. 231
  1006. 00:14:29,620 --> 00:14:31,038
  1007. - No.
  1008. <i>- Good.</i>
  1009.  
  1010. 232
  1011. 00:14:31,121 --> 00:14:32,789
  1012. Well, at least we can agree on that.
  1013.  
  1014. 233
  1015. 00:14:34,833 --> 00:14:38,629
  1016. Reed wants to see you at the bank
  1017. in the morning to sign off on that loan.
  1018.  
  1019. 234
  1020. 00:14:39,213 --> 00:14:40,255
  1021. Excuse me?
  1022.  
  1023. 235
  1024. 00:14:40,714 --> 00:14:42,841
  1025. <i>I told him I'd act as guarantor.</i>
  1026.  
  1027. 236
  1028. 00:14:45,385 --> 00:14:46,428
  1029. You still there?
  1030.  
  1031. 237
  1032. 00:14:48,680 --> 00:14:50,265
  1033. Why are you doing this, Mr. Barker?
  1034.  
  1035. 238
  1036. 00:14:50,349 --> 00:14:52,100
  1037. Because normal business customs
  1038.  
  1039. 239
  1040. 00:14:52,184 --> 00:14:54,853
  1041. are in place to screw people like you,
  1042. Mr. Garrett.
  1043.  
  1044. 240
  1045. 00:14:55,312 --> 00:14:58,315
  1046. <i>You went to see Reed
  1047. knowing the deck was stacked</i>
  1048.  
  1049. 241
  1050. 00:14:58,398 --> 00:15:01,193
  1051. <i>because you have
  1052. that much confidence in this deal.</i>
  1053.  
  1054. 242
  1055. 00:15:02,194 --> 00:15:04,112
  1056. That tells me
  1057. all I need to know about you.
  1058.  
  1059. 243
  1060. 00:15:07,324 --> 00:15:08,951
  1061. Well, do you want this loan or not?
  1062.  
  1063. 244
  1064. 00:15:12,037 --> 00:15:13,330
  1065. Yes.
  1066.  
  1067. 245
  1068. 00:15:18,043 --> 00:15:22,673
  1069. Sometimes you need to take a step back
  1070. and enjoy what you've accomplished, baby.
  1071.  
  1072. 246
  1073. 00:15:55,914 --> 00:15:56,999
  1074. You like cigars?
  1075.  
  1076. 247
  1077. 00:15:58,625 --> 00:15:59,710
  1078. I don't smoke.
  1079.  
  1080. 248
  1081. 00:16:09,178 --> 00:16:11,096
  1082. I'm not fucking your wife.
  1083.  
  1084. 249
  1085. 00:16:12,848 --> 00:16:15,934
  1086. You go to every table in here
  1087. to reassure your patrons of that?
  1088.  
  1089. 250
  1090. 00:16:16,018 --> 00:16:18,645
  1091. No. Might have to skip some of them.
  1092.  
  1093. 251
  1094. 00:16:21,023 --> 00:16:22,357
  1095. Come on, man. Lighten up.
  1096.  
  1097. 252
  1098. 00:16:22,441 --> 00:16:24,234
  1099. I'm not the asshole you think I am.
  1100.  
  1101. 253
  1102. 00:16:24,318 --> 00:16:26,403
  1103. You a different kind of asshole, huh?
  1104.  
  1105. 254
  1106. 00:16:29,573 --> 00:16:31,158
  1107. I've been told that, yeah.
  1108.  
  1109. 255
  1110. 00:16:31,909 --> 00:16:33,535
  1111. Come on. Let's go outside and talk.
  1112.  
  1113. 256
  1114. 00:16:46,715 --> 00:16:48,133
  1115. What do you want from me, man?
  1116.  
  1117. 257
  1118. 00:16:48,717 --> 00:16:50,636
  1119. You mean aside from your wife?
  1120.  
  1121. 258
  1122. 00:16:53,764 --> 00:16:57,559
  1123. Look, I like seeing black men succeed.
  1124.  
  1125. 259
  1126. 00:16:57,643 --> 00:17:00,646
  1127. Sometimes I even invest
  1128. some of my own money to back them.
  1129.  
  1130. 260
  1131. 00:17:02,022 --> 00:17:03,357
  1132. But you don't even know me.
  1133.  
  1134. 261
  1135. 00:17:03,440 --> 00:17:05,442
  1136. I know you're smart and ambitious.
  1137.  
  1138. 262
  1139. 00:17:06,818 --> 00:17:08,654
  1140. You and I both know that's not enough.
  1141.  
  1142. 263
  1143. 00:17:08,737 --> 00:17:10,239
  1144. You're also angry.
  1145.  
  1146. 264
  1147. 00:17:11,114 --> 00:17:12,241
  1148. But you don't show it.
  1149.  
  1150. 265
  1151. 00:17:12,824 --> 00:17:14,576
  1152. That's the best kind of anger.
  1153.  
  1154. 266
  1155. 00:17:14,660 --> 00:17:16,744
  1156. Fuels you without making you a target.
  1157.  
  1158. 267
  1159. 00:17:17,913 --> 00:17:18,914
  1160. I'm not angry.
  1161.  
  1162. 268
  1163. 00:17:22,041 --> 00:17:23,085
  1164. Yeah, all right.
  1165.  
  1166. 269
  1167. 00:17:27,923 --> 00:17:28,966
  1168. Nice glasses.
  1169.  
  1170. 270
  1171. 00:17:29,049 --> 00:17:30,467
  1172. You near-sighted or far-sighted?
  1173.  
  1174. 271
  1175. 00:17:31,134 --> 00:17:32,135
  1176. Does it matter?
  1177.  
  1178. 272
  1179. 00:17:33,053 --> 00:17:35,138
  1180. Just wondering what you'd look like
  1181. without 'em.
  1182.  
  1183. 273
  1184. 00:17:40,853 --> 00:17:42,437
  1185. So, you trust this Barker?
  1186.  
  1187. 274
  1188. 00:17:43,522 --> 00:17:44,773
  1189. He didn't have to help me.
  1190.  
  1191. 275
  1192. 00:17:45,858 --> 00:17:49,236
  1193. What if you can't finish the work
  1194. or rent the units fast enough?
  1195.  
  1196. 276
  1197. 00:17:50,112 --> 00:17:51,154
  1198. I'll make the date.
  1199.  
  1200. 277
  1201. 00:17:53,156 --> 00:17:55,826
  1202. See? Anger.
  1203.  
  1204. 278
  1205. 00:17:57,536 --> 00:17:58,912
  1206. I'm gonna get another drink.
  1207.  
  1208. 279
  1209. 00:18:03,917 --> 00:18:04,960
  1210. I'm not angry.
  1211.  
  1212. 280
  1213. 00:18:06,253 --> 00:18:07,337
  1214. Yes, you are.
  1215.  
  1216. 281
  1217. 00:18:17,222 --> 00:18:18,765
  1218. What are you doing here?
  1219.  
  1220. 282
  1221. 00:18:19,224 --> 00:18:22,769
  1222. Ma'am, I'm Bernard Garrett.
  1223.  
  1224. 283
  1225. 00:18:22,853 --> 00:18:25,105
  1226. Just doing some renovations
  1227. on the empty apartments.
  1228.  
  1229. 284
  1230. 00:18:25,522 --> 00:18:27,274
  1231. What hours do you work?
  1232.  
  1233. 285
  1234. 00:18:27,357 --> 00:18:31,278
  1235. Well, the city say all construction has to
  1236. be done between 8:00 a.m. and 6:00 p.m.
  1237.  
  1238. 286
  1239. 00:18:31,361 --> 00:18:34,698
  1240. - So, if you need any improvements...
  1241. - I don't need improvements.
  1242.  
  1243. 287
  1244. 00:18:35,115 --> 00:18:37,868
  1245. And you can tell
  1246. that mick that owns this place,
  1247.  
  1248. 288
  1249. 00:18:37,951 --> 00:18:41,413
  1250. when he goes jacking the rent,
  1251. he ain't jacking mine.
  1252.  
  1253. 289
  1254. 00:18:41,496 --> 00:18:42,496
  1255. Yes, ma'am.
  1256.  
  1257. 290
  1258. 00:18:42,539 --> 00:18:45,751
  1259. Mr. Barker was very clear about your lease
  1260. when he sold me the building.
  1261.  
  1262. 291
  1263. 00:18:46,835 --> 00:18:49,004
  1264. Don't you sass me, boy.
  1265.  
  1266. 292
  1267. 00:18:49,379 --> 00:18:50,881
  1268. This is a white building.
  1269.  
  1270. 293
  1271. 00:18:51,715 --> 00:18:53,634
  1272. You can't own this place.
  1273.  
  1274. 294
  1275. 00:19:04,061 --> 00:19:06,813
  1276. Hey, why don't you grab that scraper
  1277. and start on the other end?
  1278.  
  1279. 295
  1280. 00:19:07,356 --> 00:19:08,398
  1281. All right.
  1282.  
  1283. 296
  1284. 00:19:10,234 --> 00:19:11,276
  1285. - Hey, man.
  1286. - Hey.
  1287.  
  1288. 297
  1289. 00:19:12,110 --> 00:19:13,195
  1290. Hey, thanks for coming.
  1291.  
  1292. 298
  1293. 00:19:13,278 --> 00:19:14,279
  1294. Of course.
  1295.  
  1296. 299
  1297. 00:19:15,781 --> 00:19:16,865
  1298. How's it going?
  1299.  
  1300. 300
  1301. 00:19:17,491 --> 00:19:19,076
  1302. I can offer you a buck, 50 an hour.
  1303.  
  1304. 301
  1305. 00:19:19,159 --> 00:19:20,410
  1306. That's great.
  1307.  
  1308. 302
  1309. 00:19:20,494 --> 00:19:22,204
  1310. And you're fine with working for me?
  1311.  
  1312. 303
  1313. 00:19:22,287 --> 00:19:24,122
  1314. I've been working for other men
  1315. my whole life.
  1316.  
  1317. 304
  1318. 00:19:24,206 --> 00:19:26,750
  1319. Right. But are you okay
  1320. with working for me?
  1321.  
  1322. 305
  1323. 00:19:27,876 --> 00:19:30,838
  1324. Well, your money is green.
  1325. That's the only concern about color I got.
  1326.  
  1327. 306
  1328. 00:19:31,255 --> 00:19:33,549
  1329. And I like the idea
  1330. of watching you build a business.
  1331.  
  1332. 307
  1333. 00:19:33,632 --> 00:19:35,759
  1334. It's something I'd like to do again
  1335. myself one day.
  1336.  
  1337. 308
  1338. 00:19:35,843 --> 00:19:36,885
  1339. "Again"?
  1340.  
  1341. 309
  1342. 00:19:36,969 --> 00:19:38,887
  1343. Yeah, I tried something a few years back.
  1344.  
  1345. 310
  1346. 00:19:38,971 --> 00:19:41,181
  1347. It was a drive-in ice cream shop.
  1348.  
  1349. 311
  1350. 00:19:41,974 --> 00:19:45,352
  1351. Well, it turns out people don't wanna
  1352. eat ice cream while driving their cars.
  1353.  
  1354. 312
  1355. 00:19:48,480 --> 00:19:50,274
  1356. - You serious?
  1357. - Yeah.
  1358.  
  1359. 313
  1360. 00:19:54,903 --> 00:19:56,280
  1361. - Let's get to work.
  1362. - Yeah.
  1363.  
  1364. 314
  1365. 00:19:59,616 --> 00:20:01,660
  1366. Connect it here. Like this.
  1367.  
  1368. 315
  1369. 00:20:04,162 --> 00:20:05,162
  1370. Should be good.
  1371.  
  1372. 316
  1373. 00:20:13,839 --> 00:20:14,840
  1374. Step back.
  1375.  
  1376. 317
  1377. 00:20:19,178 --> 00:20:20,179
  1378. Right there.
  1379.  
  1380. 318
  1381. 00:20:20,846 --> 00:20:22,931
  1382. We want to scrape these railings
  1383. up to the front
  1384.  
  1385. 319
  1386. 00:20:23,015 --> 00:20:25,601
  1387. and paint our way back
  1388. and then go back with the stucco.
  1389.  
  1390. 320
  1391. 00:20:25,684 --> 00:20:28,020
  1392. Go from the top. Let's work our way down.
  1393.  
  1394. 321
  1395. 00:20:28,103 --> 00:20:29,521
  1396. - Bernard Garrett.
  1397. - Then let's...
  1398.  
  1399. 322
  1400. 00:20:31,064 --> 00:20:32,858
  1401. Yes, Officer. Is there a problem?
  1402.  
  1403. 323
  1404. 00:20:32,941 --> 00:20:34,610
  1405. We received a complaint about you.
  1406.  
  1407. 324
  1408. 00:20:35,110 --> 00:20:38,197
  1409. Ms. Cooper in Apartment 2A
  1410. does not like you working in the building.
  1411.  
  1412. 325
  1413. 00:20:39,489 --> 00:20:40,324
  1414. Why not?
  1415.  
  1416. 326
  1417. 00:20:40,407 --> 00:20:42,260
  1418. She said you were impersonating
  1419. the owner of the building.
  1420.  
  1421. 327
  1422. 00:20:42,284 --> 00:20:44,912
  1423. - No, he owns the building.
  1424. - I'm not talking to you.
  1425.  
  1426. 328
  1427. 00:20:47,956 --> 00:20:49,625
  1428. I do own the building, Officer.
  1429.  
  1430. 329
  1431. 00:20:49,708 --> 00:20:52,169
  1432. All the paperwork is filed downtown.
  1433.  
  1434. 330
  1435. 00:20:52,252 --> 00:20:55,214
  1436. But I keep a copy with me,
  1437. just to be safe.
  1438.  
  1439. 331
  1440. 00:21:01,386 --> 00:21:02,554
  1441. This actually looks real.
  1442.  
  1443. 332
  1444. 00:21:09,478 --> 00:21:10,604
  1445. Yeah, I guess so.
  1446.  
  1447. 333
  1448. 00:21:13,106 --> 00:21:15,025
  1449. Try to be more respectful to your tenants.
  1450.  
  1451. 334
  1452. 00:21:16,485 --> 00:21:17,694
  1453. Yes, sir, Officer.
  1454.  
  1455. 335
  1456. 00:21:18,820 --> 00:21:20,447
  1457. Sorry for the inconvenience.
  1458.  
  1459. 336
  1460. 00:21:30,249 --> 00:21:33,627
  1461. You can't be here after 6:00 p.m.
  1462.  
  1463. 337
  1464. 00:21:33,710 --> 00:21:36,672
  1465. A contractor can't be here
  1466. after 6:00 p.m., Ms. Cooper.
  1467.  
  1468. 338
  1469. 00:21:37,214 --> 00:21:38,590
  1470. I'm a resident.
  1471.  
  1472. 339
  1473. 00:21:38,674 --> 00:21:39,675
  1474. I'm moving in.
  1475.  
  1476. 340
  1477. 00:21:55,649 --> 00:21:57,693
  1478. I hope your mother enjoys her new place.
  1479.  
  1480. 341
  1481. 00:21:57,776 --> 00:21:59,069
  1482. I'm sure she will.
  1483.  
  1484. 342
  1485. 00:21:59,152 --> 00:22:00,654
  1486. - Mrs. Garrett?
  1487. - Yes.
  1488.  
  1489. 343
  1490. 00:22:00,737 --> 00:22:03,782
  1491. Anita Jefferson. We spoke about
  1492. leasing one of your apartments?
  1493.  
  1494. 344
  1495. 00:22:03,866 --> 00:22:05,784
  1496. Yes, of course. It's nice to meet you.
  1497.  
  1498. 345
  1499. 00:22:08,620 --> 00:22:09,830
  1500. Fully leased.
  1501.  
  1502. 346
  1503. 00:22:10,914 --> 00:22:11,957
  1504. Impressive.
  1505.  
  1506. 347
  1507. 00:22:15,544 --> 00:22:18,463
  1508. I have my eye on a place
  1509. two blocks east of here.
  1510.  
  1511. 348
  1512. 00:22:19,047 --> 00:22:20,132
  1513. You interested?
  1514.  
  1515. 349
  1516. 00:22:20,215 --> 00:22:21,216
  1517. You mean a partnership?
  1518.  
  1519. 350
  1520. 00:22:22,134 --> 00:22:23,260
  1521. Yeah. 50-50.
  1522.  
  1523. 351
  1524. 00:22:24,178 --> 00:22:25,262
  1525. But on one condition.
  1526.  
  1527. 352
  1528. 00:22:27,514 --> 00:22:28,515
  1529. Bernard...
  1530.  
  1531. 353
  1532. 00:22:29,141 --> 00:22:30,392
  1533. I do business with people
  1534.  
  1535. 354
  1536. 00:22:31,059 --> 00:22:33,103
  1537. who turn away from me
  1538. after we shake on the deal
  1539.  
  1540. 355
  1541. 00:22:33,187 --> 00:22:35,606
  1542. and wash their hands
  1543. because I'm a dirty Irishman.
  1544.  
  1545. 356
  1546. 00:22:37,191 --> 00:22:39,943
  1547. But they do business with me
  1548. because I make them money.
  1549.  
  1550. 357
  1551. 00:22:41,278 --> 00:22:44,907
  1552. Now, you have the knack of knowing
  1553. the untapped value of a building.
  1554.  
  1555. 358
  1556. 00:22:46,617 --> 00:22:48,535
  1557. You'll work the phones with me.
  1558.  
  1559. 359
  1560. 00:22:49,995 --> 00:22:51,079
  1561. Work the investors.
  1562.  
  1563. 360
  1564. 00:22:51,914 --> 00:22:55,751
  1565. But when we need a face to sign the deal,
  1566. that'll be me.
  1567.  
  1568. 361
  1569. 00:22:57,419 --> 00:22:58,420
  1570. And we'll make money.
  1571.  
  1572. 362
  1573. 00:22:59,505 --> 00:23:00,506
  1574. A lot of it.
  1575.  
  1576. 363
  1577. 00:23:02,966 --> 00:23:03,967
  1578. Fifty-fifty?
  1579.  
  1580. 364
  1581. 00:23:06,678 --> 00:23:07,888
  1582. Fifty-fifty.
  1583.  
  1584. 365
  1585. 00:23:14,937 --> 00:23:15,938
  1586. This is it. Right here.
  1587.  
  1588. 366
  1589. 00:23:16,355 --> 00:23:17,356
  1590. There you go.
  1591.  
  1592. 367
  1593. 00:23:19,691 --> 00:23:20,692
  1594. Your signature.
  1595.  
  1596. 368
  1597. 00:23:30,327 --> 00:23:31,578
  1598. Hello? Yeah.
  1599.  
  1600. 369
  1601. 00:23:32,204 --> 00:23:33,205
  1602. Right.
  1603.  
  1604. 370
  1605. 00:23:35,082 --> 00:23:36,500
  1606. I was calling about the house...
  1607.  
  1608. 371
  1609. 00:24:01,984 --> 00:24:03,360
  1610. Let's try the sofa over here.
  1611.  
  1612. 372
  1613. 00:24:03,944 --> 00:24:06,321
  1614. Lamp. Right here in the corner.
  1615.  
  1616. 373
  1617. 00:24:06,405 --> 00:24:08,490
  1618. It's perfect. Perfect. Perfect.
  1619.  
  1620. 374
  1621. 00:24:08,991 --> 00:24:10,909
  1622. That looks great.
  1623.  
  1624. 375
  1625. 00:24:11,451 --> 00:24:13,370
  1626. What do you think, baby? It's nice, right?
  1627.  
  1628. 376
  1629. 00:24:13,453 --> 00:24:15,956
  1630. Well. I think there's something going on
  1631. with the car.
  1632.  
  1633. 377
  1634. 00:24:16,039 --> 00:24:17,207
  1635. You wanna go check on it?
  1636.  
  1637. 378
  1638. 00:24:19,001 --> 00:24:20,002
  1639. Right.
  1640.  
  1641. 379
  1642. 00:24:21,753 --> 00:24:24,256
  1643. Okay, let's move the table there,
  1644. slide the couch in,
  1645.  
  1646. 380
  1647. 00:24:24,339 --> 00:24:25,966
  1648. and put the lamp on the other side.
  1649.  
  1650. 381
  1651. 00:24:26,717 --> 00:24:29,636
  1652. And don't you dare let him move anything
  1653. when he gets back. Okay?
  1654.  
  1655. 382
  1656. 00:24:29,720 --> 00:24:30,971
  1657. - Yes, ma'am.
  1658. - Yes, ma'am.
  1659.  
  1660. 383
  1661. 00:24:33,682 --> 00:24:37,269
  1662. Barker and I have been thinking about
  1663. diversifying in single family homes.
  1664.  
  1665. 384
  1666. 00:24:38,395 --> 00:24:39,396
  1667. So...
  1668.  
  1669. 385
  1670. 00:24:40,314 --> 00:24:44,651
  1671. want you to go in, tell me
  1672. what you think this house needs.
  1673.  
  1674. 386
  1675. 00:24:52,492 --> 00:24:53,577
  1676. Bernard.
  1677.  
  1678. 387
  1679. 00:24:56,079 --> 00:24:57,706
  1680. This place is beautiful.
  1681.  
  1682. 388
  1683. 00:24:59,458 --> 00:25:00,459
  1684. You think?
  1685.  
  1686. 389
  1687. 00:25:00,959 --> 00:25:02,711
  1688. - Yes.
  1689. - Does it need anything?
  1690.  
  1691. 390
  1692. 00:25:02,794 --> 00:25:03,962
  1693. Furniture.
  1694.  
  1695. 391
  1696. 00:25:05,130 --> 00:25:06,715
  1697. So I did a good job?
  1698.  
  1699. 392
  1700. 00:25:06,798 --> 00:25:08,634
  1701. Well, it depends on the price, doesn't it?
  1702.  
  1703. 393
  1704. 00:25:10,344 --> 00:25:11,470
  1705. Not this time, baby.
  1706.  
  1707. 394
  1708. 00:25:14,348 --> 00:25:16,099
  1709. Go on. Take it. I already got a set.
  1710.  
  1711. 395
  1712. 00:25:18,227 --> 00:25:20,020
  1713. Are you serious?
  1714.  
  1715. 396
  1716. 00:25:25,359 --> 00:25:27,152
  1717. You really sleeping in late.
  1718.  
  1719. 397
  1720. 00:25:27,736 --> 00:25:29,488
  1721. Time to get up, dear.
  1722.  
  1723. 398
  1724. 00:25:43,836 --> 00:25:45,879
  1725. <i>Mrs. Barker would like to offer a buyout</i>
  1726.  
  1727. 399
  1728. 00:25:45,963 --> 00:25:49,383
  1729. for your interest
  1730. in all the Barker/Garrett properties.
  1731.  
  1732. 400
  1733. 00:25:49,466 --> 00:25:51,134
  1734. I have no reason to sell.
  1735.  
  1736. 401
  1737. 00:25:51,218 --> 00:25:53,053
  1738. I'm happy running the buildings on my own.
  1739.  
  1740. 402
  1741. 00:25:53,136 --> 00:25:54,513
  1742. That's unacceptable.
  1743.  
  1744. 403
  1745. 00:25:54,596 --> 00:25:56,036
  1746. I don't wanna be in business with...
  1747.  
  1748. 404
  1749. 00:25:57,724 --> 00:26:00,853
  1750. I prefer not to continue the arrangement.
  1751.  
  1752. 405
  1753. 00:26:02,729 --> 00:26:03,981
  1754. What's the offer?
  1755.  
  1756. 406
  1757. 00:26:12,948 --> 00:26:14,533
  1758. This is outrageous.
  1759.  
  1760. 407
  1761. 00:26:14,616 --> 00:26:17,661
  1762. I own 50% of a dozen properties.
  1763.  
  1764. 408
  1765. 00:26:17,744 --> 00:26:20,205
  1766. You want me to give it up
  1767. for pennies on the dollar?
  1768.  
  1769. 409
  1770. 00:26:20,289 --> 00:26:22,666
  1771. I don't have to pay you anything.
  1772.  
  1773. 410
  1774. 00:26:23,333 --> 00:26:25,294
  1775. Your name doesn't appear
  1776. on any of the deeds.
  1777.  
  1778. 411
  1779. 00:26:25,377 --> 00:26:26,503
  1780. Well, it couldn't.
  1781.  
  1782. 412
  1783. 00:26:27,004 --> 00:26:28,130
  1784. We had an agreement.
  1785.  
  1786. 413
  1787. 00:26:28,213 --> 00:26:30,841
  1788. And we all know
  1789. what your husband's intentions were.
  1790.  
  1791. 414
  1792. 00:26:35,220 --> 00:26:38,265
  1793. I will up my offer
  1794. to 25 cents on the dollar.
  1795.  
  1796. 415
  1797. 00:26:38,348 --> 00:26:40,517
  1798. And if you see fit
  1799. to refuse that, Mr. Garrett,
  1800.  
  1801. 416
  1802. 00:26:40,601 --> 00:26:42,227
  1803. you can walk away with nothing
  1804.  
  1805. 417
  1806. 00:26:42,769 --> 00:26:44,688
  1807. unless you wanna face me
  1808. in a court of law.
  1809.  
  1810. 418
  1811. 00:26:45,480 --> 00:26:46,773
  1812. With a different lawyer.
  1813.  
  1814. 419
  1815. 00:26:53,280 --> 00:26:55,657
  1816. There has to be a way
  1817. to prove Mr. Barker's intentions.
  1818.  
  1819. 420
  1820. 00:26:55,741 --> 00:26:57,868
  1821. Well, if you could find a witness, yes.
  1822.  
  1823. 421
  1824. 00:26:57,951 --> 00:26:58,952
  1825. But...
  1826.  
  1827. 422
  1828. 00:26:59,328 --> 00:27:00,329
  1829. it can't be me.
  1830.  
  1831. 423
  1832. 00:27:00,913 --> 00:27:02,331
  1833. I could get disbarred for that.
  1834.  
  1835. 424
  1836. 00:27:03,207 --> 00:27:05,334
  1837. Mr. Reed at Mid City...
  1838.  
  1839. 425
  1840. 00:27:05,417 --> 00:27:07,544
  1841. He's her banker now, Bernard.
  1842.  
  1843. 426
  1844. 00:27:08,921 --> 00:27:10,589
  1845. He's not going to intervene for you.
  1846.  
  1847. 427
  1848. 00:27:15,427 --> 00:27:16,887
  1849. I need to see Mr. Reed.
  1850.  
  1851. 428
  1852. 00:27:16,970 --> 00:27:18,388
  1853. I'm sorry, Mr. Garrett.
  1854.  
  1855. 429
  1856. 00:27:18,472 --> 00:27:20,849
  1857. Mr. Reed can't see anybody
  1858. without an appointment.
  1859.  
  1860. 430
  1861. 00:27:20,933 --> 00:27:21,934
  1862. This is urgent.
  1863.  
  1864. 431
  1865. 00:27:24,353 --> 00:27:25,395
  1866. Hold on a moment.
  1867.  
  1868. 432
  1869. 00:28:29,084 --> 00:28:32,296
  1870. I don't know how familiar you are
  1871. with the commercial real estate market.
  1872.  
  1873. 433
  1874. 00:28:32,379 --> 00:28:35,174
  1875. Eunice told me you had two or three
  1876. income-producing buildings?
  1877.  
  1878. 434
  1879. 00:28:36,091 --> 00:28:37,301
  1880. Seventeen.
  1881.  
  1882. 435
  1883. 00:28:37,384 --> 00:28:39,636
  1884. But once you've popped your cherry,
  1885.  
  1886. 436
  1887. 00:28:39,720 --> 00:28:42,222
  1888. I mean, how much more
  1889. can you learn on each new one?
  1890.  
  1891. 437
  1892. 00:28:43,807 --> 00:28:44,850
  1893. Seventeen?
  1894.  
  1895. 438
  1896. 00:28:45,726 --> 00:28:47,144
  1897. Eighteen, if you count the club.
  1898.  
  1899. 439
  1900. 00:28:47,936 --> 00:28:49,605
  1901. My mother was a real estate agent.
  1902.  
  1903. 440
  1904. 00:28:50,898 --> 00:28:51,982
  1905. You know this building?
  1906.  
  1907. 441
  1908. 00:28:54,943 --> 00:28:57,821
  1909. Sure. Bunch of bankers headquarters
  1910. in there.
  1911.  
  1912. 442
  1913. 00:28:57,905 --> 00:29:00,824
  1914. Tallest commercial building
  1915. in downtown Los Angeles.
  1916.  
  1917. 443
  1918. 00:29:00,908 --> 00:29:01,950
  1919. I wanna buy it.
  1920.  
  1921. 444
  1922. 00:29:04,119 --> 00:29:05,162
  1923. I want us to buy it.
  1924.  
  1925. 445
  1926. 00:29:08,999 --> 00:29:13,295
  1927. That's a mighty big building to buy
  1928. on the most expensive land in the city.
  1929.  
  1930. 446
  1931. 00:29:13,378 --> 00:29:14,379
  1932. I know.
  1933.  
  1934. 447
  1935. 00:29:16,215 --> 00:29:18,217
  1936. We'd need a substantial loan.
  1937.  
  1938. 448
  1939. 00:29:18,300 --> 00:29:21,053
  1940. You don't own all 18 of those properties
  1941. outright, do you?
  1942.  
  1943. 449
  1944. 00:29:23,055 --> 00:29:27,184
  1945. I got a banker in San Francisco
  1946. I've done business with for years.
  1947.  
  1948. 450
  1949. 00:29:28,894 --> 00:29:29,895
  1950. Drink?
  1951.  
  1952. 451
  1953. 00:29:29,978 --> 00:29:31,313
  1954. No, thank you. I don't drink.
  1955.  
  1956. 452
  1957. 00:29:37,194 --> 00:29:42,741
  1958. You know there's not a single black-owned
  1959. building in downtown Los Angeles.
  1960.  
  1961. 453
  1962. 00:29:42,824 --> 00:29:44,326
  1963. There's a reason for that.
  1964.  
  1965. 454
  1966. 00:29:44,409 --> 00:29:46,703
  1967. Yeah. We're probably gonna
  1968. have to overpay to get it.
  1969.  
  1970. 455
  1971. 00:29:48,247 --> 00:29:49,623
  1972. Tell me something I don't know.
  1973.  
  1974. 456
  1975. 00:29:51,166 --> 00:29:52,167
  1976. Now...
  1977.  
  1978. 457
  1979. 00:29:53,669 --> 00:29:54,711
  1980. convince me.
  1981.  
  1982. 458
  1983. 00:29:57,172 --> 00:29:58,173
  1984. Well...
  1985.  
  1986. 459
  1987. 00:30:00,008 --> 00:30:02,928
  1988. the best place to learn about the present
  1989. state of the real estate market
  1990.  
  1991. 460
  1992. 00:30:03,011 --> 00:30:04,429
  1993. is inside of a bank.
  1994.  
  1995. 461
  1996. 00:30:04,513 --> 00:30:07,224
  1997. We get that building,
  1998. we'll be inside 12 of them.
  1999.  
  2000. 462
  2001. 00:30:08,100 --> 00:30:11,854
  2002. And next time they'll think twice about
  2003. refusing to make loans to us
  2004.  
  2005. 463
  2006. 00:30:12,437 --> 00:30:13,856
  2007. if we're their landlords.
  2008.  
  2009. 464
  2010. 00:30:15,983 --> 00:30:18,527
  2011. That's very audacious, Mr. Garrett.
  2012.  
  2013. 465
  2014. 00:30:19,194 --> 00:30:21,154
  2015. I think of it in purely logical terms.
  2016.  
  2017. 466
  2018. 00:30:22,489 --> 00:30:23,490
  2019. What a shame.
  2020.  
  2021. 467
  2022. 00:30:23,907 --> 00:30:24,950
  2023. Excuse me?
  2024.  
  2025. 468
  2026. 00:30:25,033 --> 00:30:28,120
  2027. What about the thrill
  2028. of taking it to the man?
  2029.  
  2030. 469
  2031. 00:30:28,203 --> 00:30:30,455
  2032. In his own castle, no less?
  2033.  
  2034. 470
  2035. 00:30:31,790 --> 00:30:32,791
  2036. No?
  2037.  
  2038. 471
  2039. 00:30:34,918 --> 00:30:35,919
  2040. Never mind.
  2041.  
  2042. 472
  2043. 00:30:36,962 --> 00:30:41,592
  2044. But on purely logical terms,
  2045. I have a concern about your plan.
  2046.  
  2047. 473
  2048. 00:30:41,675 --> 00:30:43,010
  2049. What's that?
  2050.  
  2051. 474
  2052. 00:30:43,552 --> 00:30:47,347
  2053. All this information we'll be getting
  2054. from hanging around all these bankers
  2055.  
  2056. 475
  2057. 00:30:47,431 --> 00:30:51,268
  2058. is gonna be about
  2059. property in white neighborhoods.
  2060.  
  2061. 476
  2062. 00:30:55,314 --> 00:31:01,195
  2063. Do you plan on starting to buy real estate
  2064. in white-only neighborhoods, Mr. Garrett?
  2065.  
  2066. 477
  2067. 00:31:01,987 --> 00:31:03,655
  2068. That's exactly what we're gonna do.
  2069.  
  2070. 478
  2071. 00:31:08,827 --> 00:31:12,956
  2072. And just how in the hell
  2073. do you plan on pulling that off?
  2074.  
  2075. 479
  2076. 00:31:13,790 --> 00:31:15,959
  2077. The same way we're gonna buy
  2078. the Bankers Building.
  2079.  
  2080. 480
  2081. 00:31:22,382 --> 00:31:23,800
  2082. You want me to what?
  2083.  
  2084. 481
  2085. 00:31:23,884 --> 00:31:26,512
  2086. Be us to the rest of the world.
  2087.  
  2088. 482
  2089. 00:31:27,721 --> 00:31:31,225
  2090. I don't know anything about banking.
  2091. I don't know how to buy a bank.
  2092.  
  2093. 483
  2094. 00:31:31,308 --> 00:31:33,060
  2095. We're not actually buying a bank.
  2096.  
  2097. 484
  2098. 00:31:33,143 --> 00:31:35,437
  2099. We're buying a building
  2100. that the banks are in.
  2101.  
  2102. 485
  2103. 00:31:35,938 --> 00:31:37,022
  2104. The banks are tenants.
  2105.  
  2106. 486
  2107. 00:31:38,857 --> 00:31:39,691
  2108. Right.
  2109.  
  2110. 487
  2111. 00:31:39,775 --> 00:31:41,610
  2112. You'd just be the face of our partnership.
  2113.  
  2114. 488
  2115. 00:31:42,736 --> 00:31:45,030
  2116. You think I'm,
  2117. you know, qualified for this?
  2118.  
  2119. 489
  2120. 00:31:45,113 --> 00:31:46,990
  2121. We'll teach you everything
  2122. you need to know.
  2123.  
  2124. 490
  2125. 00:31:50,744 --> 00:31:52,955
  2126. That guy? Seriously?
  2127.  
  2128. 491
  2129. 00:31:53,455 --> 00:31:55,082
  2130. He just has to digest it.
  2131.  
  2132. 492
  2133. 00:31:55,165 --> 00:31:56,166
  2134. So, what?
  2135.  
  2136. 493
  2137. 00:31:56,250 --> 00:31:58,627
  2138. He can freeze up
  2139. soon as we send him in the room?
  2140.  
  2141. 494
  2142. 00:31:58,710 --> 00:31:59,753
  2143. He won't freeze up.
  2144.  
  2145. 495
  2146. 00:31:59,837 --> 00:32:01,505
  2147. Trust me. He's the right guy.
  2148.  
  2149. 496
  2150. 00:32:01,588 --> 00:32:05,884
  2151. I'll lay you a hundred dollars to your one
  2152. he can't go the distance.
  2153.  
  2154. 497
  2155. 00:32:06,301 --> 00:32:07,928
  2156. Don't you know any other white people
  2157.  
  2158. 498
  2159. 00:32:08,011 --> 00:32:09,930
  2160. who'd like to get paid
  2161. to be our front man?
  2162.  
  2163. 499
  2164. 00:32:10,013 --> 00:32:11,598
  2165. Not that I trust. Do you?
  2166.  
  2167. 500
  2168. 00:32:11,974 --> 00:32:13,392
  2169. I don't trust white people.
  2170.  
  2171. 501
  2172. 00:32:14,142 --> 00:32:15,853
  2173. How do you even go through life like that?
  2174.  
  2175. 502
  2176. 00:32:15,936 --> 00:32:17,896
  2177. Truth be told,
  2178. I don't trust black people either.
  2179.  
  2180. 503
  2181. 00:32:19,106 --> 00:32:20,440
  2182. What are you even saying?
  2183.  
  2184. 504
  2185. 00:32:20,524 --> 00:32:23,402
  2186. Look. I do plenty of business
  2187. with white folks.
  2188.  
  2189. 505
  2190. 00:32:23,485 --> 00:32:24,486
  2191. I'm friendly with them.
  2192.  
  2193. 506
  2194. 00:32:24,570 --> 00:32:26,321
  2195. Good friends with some.
  2196.  
  2197. 507
  2198. 00:32:26,405 --> 00:32:29,241
  2199. I'm just saying that no matter what,
  2200.  
  2201. 508
  2202. 00:32:29,324 --> 00:32:33,287
  2203. there's always something extra
  2204. going on in the relationship.
  2205.  
  2206. 509
  2207. 00:32:33,370 --> 00:32:34,830
  2208. It's just the way shit is.
  2209.  
  2210. 510
  2211. 00:32:34,913 --> 00:32:36,623
  2212. When you accept that,
  2213.  
  2214. 511
  2215. 00:32:36,707 --> 00:32:40,002
  2216. you can't get caught off guard
  2217. when it rears its ugly head.
  2218.  
  2219. 512
  2220. 00:32:40,669 --> 00:32:42,296
  2221. I can't live my life like that.
  2222.  
  2223. 513
  2224. 00:32:42,796 --> 00:32:44,339
  2225. See, that's what I like about you.
  2226.  
  2227. 514
  2228. 00:32:45,048 --> 00:32:46,592
  2229. You are a good person.
  2230.  
  2231. 515
  2232. 00:32:46,675 --> 00:32:48,802
  2233. Ain't been corrupted by the world yet.
  2234.  
  2235. 516
  2236. 00:32:48,886 --> 00:32:50,053
  2237. Like a child.
  2238.  
  2239. 517
  2240. 00:32:50,971 --> 00:32:53,724
  2241. But that's gonna change when you get rich.
  2242.  
  2243. 518
  2244. 00:32:54,725 --> 00:32:55,934
  2245. Yeah, I'll take that risk.
  2246.  
  2247. 519
  2248. 00:32:56,643 --> 00:32:58,103
  2249. You ain't gonna have no choice.
  2250.  
  2251. 520
  2252. 00:33:08,238 --> 00:33:09,323
  2253. Thanks.
  2254.  
  2255. 521
  2256. 00:33:20,083 --> 00:33:21,083
  2257. Hi.
  2258.  
  2259. 522
  2260. 00:33:22,544 --> 00:33:23,587
  2261. Hi.
  2262.  
  2263. 523
  2264. 00:33:24,087 --> 00:33:26,256
  2265. You're Matt Steiner, right?
  2266.  
  2267. 524
  2268. 00:33:29,301 --> 00:33:30,385
  2269. Hollywood High?
  2270.  
  2271. 525
  2272. 00:33:30,469 --> 00:33:31,637
  2273. - Yes.
  2274. - Right.
  2275.  
  2276. 526
  2277. 00:33:31,720 --> 00:33:35,557
  2278. You were a few years ahead of me,
  2279. but everybody knew who you were.
  2280.  
  2281. 527
  2282. 00:33:39,144 --> 00:33:40,854
  2283. What are you all sour-faced about?
  2284.  
  2285. 528
  2286. 00:33:42,606 --> 00:33:43,607
  2287. I was just thinking.
  2288.  
  2289. 529
  2290. 00:33:44,149 --> 00:33:45,150
  2291. About?
  2292.  
  2293. 530
  2294. 00:33:45,901 --> 00:33:46,901
  2295. A new job.
  2296.  
  2297. 531
  2298. 00:33:47,319 --> 00:33:48,320
  2299. Doing what?
  2300.  
  2301. 532
  2302. 00:33:49,238 --> 00:33:50,322
  2303. Real estate.
  2304.  
  2305. 533
  2306. 00:33:50,697 --> 00:33:52,533
  2307. Like a broker?
  2308.  
  2309. 534
  2310. 00:33:52,991 --> 00:33:55,160
  2311. You know, more like an investor.
  2312.  
  2313. 535
  2314. 00:33:56,036 --> 00:33:57,871
  2315. Well, I'd be working with the investors.
  2316.  
  2317. 536
  2318. 00:33:57,955 --> 00:33:58,789
  2319. Hand in hand.
  2320.  
  2321. 537
  2322. 00:33:58,872 --> 00:34:00,123
  2323. So, they're hiring you?
  2324.  
  2325. 538
  2326. 00:34:01,750 --> 00:34:02,793
  2327. Kind of a partnership.
  2328.  
  2329. 539
  2330. 00:34:03,961 --> 00:34:05,295
  2331. A partnership.
  2332.  
  2333. 540
  2334. 00:34:07,673 --> 00:34:10,300
  2335. - Susie.
  2336. - Yeah, yeah.
  2337.  
  2338. 541
  2339. 00:34:10,384 --> 00:34:12,010
  2340. - It's good to see you.
  2341. - You too.
  2342.  
  2343. 542
  2344. 00:34:23,021 --> 00:34:24,022
  2345. I'm in.
  2346.  
  2347. 543
  2348. 00:34:25,065 --> 00:34:26,065
  2349. You sure?
  2350.  
  2351. 544
  2352. 00:34:26,149 --> 00:34:28,569
  2353. Just teach me what I need to know.
  2354. I won't let you down.
  2355.  
  2356. 545
  2357. 00:34:31,154 --> 00:34:34,116
  2358. Be at Rancho Park Golf Course
  2359. tomorrow morning, 6:00 a.m.
  2360.  
  2361. 546
  2362. 00:34:34,574 --> 00:34:35,617
  2363. Don't be late.
  2364.  
  2365. 547
  2366. 00:34:35,701 --> 00:34:36,702
  2367. Thank you.
  2368.  
  2369. 548
  2370. 00:34:38,203 --> 00:34:39,246
  2371. Thanks.
  2372.  
  2373. 549
  2374. 00:34:53,969 --> 00:34:55,094
  2375. What? Is he even coming?
  2376.  
  2377. 550
  2378. 00:34:57,264 --> 00:34:58,515
  2379. Morning, fellows.
  2380.  
  2381. 551
  2382. 00:34:58,599 --> 00:34:59,808
  2383. I thought you said 6:00?
  2384.  
  2385. 552
  2386. 00:34:59,892 --> 00:35:02,227
  2387. - I did. Were you here at 6:00?
  2388. - Yeah.
  2389.  
  2390. 553
  2391. 00:35:02,311 --> 00:35:03,312
  2392. Good.
  2393.  
  2394. 554
  2395. 00:35:03,896 --> 00:35:04,938
  2396. You ever play golf?
  2397.  
  2398. 555
  2399. 00:35:05,397 --> 00:35:06,607
  2400. No.
  2401.  
  2402. 556
  2403. 00:35:06,690 --> 00:35:08,817
  2404. Well, before you learn
  2405. how to talk real estate,
  2406.  
  2407. 557
  2408. 00:35:08,901 --> 00:35:10,903
  2409. you gotta learn
  2410. how to talk to rich white folks
  2411.  
  2412. 558
  2413. 00:35:10,986 --> 00:35:12,654
  2414. so it seems like you one of 'em.
  2415.  
  2416. 559
  2417. 00:35:12,738 --> 00:35:16,200
  2418. And you got one month
  2419. to learn how to play golf.
  2420.  
  2421. 560
  2422. 00:35:16,283 --> 00:35:18,678
  2423. And I mean learn to play
  2424. like you've been playing your whole life.
  2425.  
  2426. 561
  2427. 00:35:18,702 --> 00:35:19,786
  2428. Think you can do that?
  2429.  
  2430. 562
  2431. 00:35:20,579 --> 00:35:22,706
  2432. Yeah. I played
  2433. a lot of sports as a kid. So...
  2434.  
  2435. 563
  2436. 00:35:22,789 --> 00:35:24,917
  2437. So... yes?
  2438.  
  2439. 564
  2440. 00:35:25,000 --> 00:35:26,627
  2441. - Yes.
  2442. - All right, then.
  2443.  
  2444. 565
  2445. 00:35:27,044 --> 00:35:28,754
  2446. Take him over and get him outfitted.
  2447.  
  2448. 566
  2449. 00:35:28,837 --> 00:35:31,006
  2450. Show him the basics
  2451. and I'll take over from there.
  2452.  
  2453. 567
  2454. 00:35:31,089 --> 00:35:32,090
  2455. Follow me.
  2456.  
  2457. 568
  2458. 00:35:38,138 --> 00:35:39,515
  2459. So a hundred dollars to my one?
  2460.  
  2461. 569
  2462. 00:35:39,598 --> 00:35:43,602
  2463. You think it's a done deal because,
  2464. what, I'm such a good golf teacher?
  2465.  
  2466. 570
  2467. 00:35:43,685 --> 00:35:45,938
  2468. You can fake math.
  2469. You can't fake a golf game.
  2470.  
  2471. 571
  2472. 00:35:46,021 --> 00:35:47,272
  2473. He's right about that, Joe.
  2474.  
  2475. 572
  2476. 00:35:48,440 --> 00:35:51,652
  2477. Bernard, this is Don Silverthorne.
  2478. My banker.
  2479.  
  2480. 573
  2481. 00:35:51,735 --> 00:35:53,570
  2482. Flew all the way down
  2483. from San Francisco
  2484.  
  2485. 574
  2486. 00:35:53,654 --> 00:35:54,988
  2487. just to see how crazy we are.
  2488.  
  2489. 575
  2490. 00:35:55,072 --> 00:35:56,073
  2491. Nice to meet you.
  2492.  
  2493. 576
  2494. 00:35:59,159 --> 00:36:00,244
  2495. Shit!
  2496.  
  2497. 577
  2498. 00:36:00,327 --> 00:36:02,079
  2499. Well, it looks like I got my answer.
  2500.  
  2501. 578
  2502. 00:36:02,162 --> 00:36:03,956
  2503. Let's try that again.
  2504.  
  2505. 579
  2506. 00:36:04,039 --> 00:36:05,624
  2507. All right. What do I do differently?
  2508.  
  2509. 580
  2510. 00:36:05,707 --> 00:36:06,708
  2511. Swing lower.
  2512.  
  2513. 581
  2514. 00:36:07,292 --> 00:36:09,127
  2515. - Great, thanks.
  2516. - Keep your head still.
  2517.  
  2518. 582
  2519. 00:36:09,586 --> 00:36:10,879
  2520. Head still, head still...
  2521.  
  2522. 583
  2523. 00:36:14,007 --> 00:36:15,133
  2524. No, you moved.
  2525.  
  2526. 584
  2527. 00:36:15,801 --> 00:36:18,679
  2528. If this charade's gonna work
  2529. and you guys want me to finance,
  2530.  
  2531. 585
  2532. 00:36:18,762 --> 00:36:21,431
  2533. I just hope you don't offer
  2534. over two million for that building.
  2535.  
  2536. 586
  2537. 00:36:22,015 --> 00:36:23,559
  2538. More than that, I don't want the risk.
  2539.  
  2540. 587
  2541. 00:36:24,601 --> 00:36:26,770
  2542. I can get that building
  2543. for under two million.
  2544.  
  2545. 588
  2546. 00:36:26,854 --> 00:36:28,730
  2547. It's not you I'm worried about,
  2548. Mr. Garrett.
  2549.  
  2550. 589
  2551. 00:36:29,857 --> 00:36:30,858
  2552. I hit it.
  2553.  
  2554. 590
  2555. 00:36:32,442 --> 00:36:33,443
  2556. It's him.
  2557.  
  2558. 591
  2559. 00:36:34,069 --> 00:36:36,196
  2560. You sure you don't wanna give me
  2561. that dollar now?
  2562.  
  2563. 592
  2564. 00:36:38,657 --> 00:36:40,284
  2565. The old way of valuing a building
  2566.  
  2567. 593
  2568. 00:36:40,367 --> 00:36:43,704
  2569. is the number of years rent it takes
  2570. to pay off the price of a building.
  2571.  
  2572. 594
  2573. 00:36:44,246 --> 00:36:46,206
  2574. So, if the building costs $300,000
  2575.  
  2576. 595
  2577. 00:36:46,290 --> 00:36:50,169
  2578. and you're getting $30,000 net income
  2579. per year, it's a ten multiple.
  2580.  
  2581. 596
  2582. 00:36:50,252 --> 00:36:53,839
  2583. Today most people value buildings
  2584. using the capitalization rate.
  2585.  
  2586. 597
  2587. 00:36:54,256 --> 00:36:55,883
  2588. But they're mathematically related.
  2589.  
  2590. 598
  2591. 00:36:56,717 --> 00:36:59,595
  2592. So the cap rate
  2593. is the multiplicative inverse
  2594.  
  2595. 599
  2596. 00:36:59,678 --> 00:37:01,847
  2597. of the ten multiple
  2598. we were just talking about.
  2599.  
  2600. 600
  2601. 00:37:03,015 --> 00:37:06,602
  2602. 300,000 = 30,000 x M.
  2603.  
  2604. 601
  2605. 00:37:06,685 --> 00:37:10,939
  2606. M = ten years.
  2607.  
  2608. 602
  2609. 00:37:11,023 --> 00:37:15,194
  2610. One-tenth x 300,000 = 30,000.
  2611.  
  2612. 603
  2613. 00:37:17,237 --> 00:37:20,365
  2614. One-tenth is 10%.
  2615.  
  2616. 604
  2617. 00:37:21,617 --> 00:37:22,618
  2618. Your cap rate.
  2619.  
  2620. 605
  2621. 00:37:26,580 --> 00:37:28,624
  2622. Maybe we should start with a math review.
  2623.  
  2624. 606
  2625. 00:37:29,833 --> 00:37:30,918
  2626. That'd be great.
  2627.  
  2628. 607
  2629. 00:37:41,845 --> 00:37:43,764
  2630. - Right?
  2631. - You have to carry the four.
  2632.  
  2633. 608
  2634. 00:37:44,723 --> 00:37:45,724
  2635. Which four?
  2636.  
  2637. 609
  2638. 00:37:55,734 --> 00:37:59,404
  2639. Even on a putt, keep your f-ing head down.
  2640.  
  2641. 610
  2642. 00:37:59,488 --> 00:38:00,989
  2643. Keep my f-ing head down. Keep...
  2644.  
  2645. 611
  2646. 00:38:07,287 --> 00:38:10,082
  2647. There's a subtraction error in there
  2648. and that last step is wrong.
  2649.  
  2650. 612
  2651. 00:38:10,165 --> 00:38:13,418
  2652. But other than that
  2653. you're getting the gist of it.
  2654.  
  2655. 613
  2656. 00:38:15,879 --> 00:38:16,880
  2657. Sorry.
  2658.  
  2659. 614
  2660. 00:38:16,964 --> 00:38:17,965
  2661. Sorry.
  2662.  
  2663. 615
  2664. 00:38:18,048 --> 00:38:19,049
  2665. Sorry!
  2666.  
  2667. 616
  2668. 00:38:25,764 --> 00:38:26,765
  2669. Right.
  2670.  
  2671. 617
  2672. 00:38:26,849 --> 00:38:29,142
  2673. Now multiply by 1.25.
  2674.  
  2675. 618
  2676. 00:38:29,893 --> 00:38:31,478
  2677. 1.25...
  2678.  
  2679. 619
  2680. 00:38:32,938 --> 00:38:35,607
  2681. No. No, no, no. Stop! Stop!
  2682.  
  2683. 620
  2684. 00:38:39,820 --> 00:38:41,029
  2685. No, no, no.
  2686.  
  2687. 621
  2688. 00:38:41,655 --> 00:38:42,781
  2689. Stop laughing.
  2690.  
  2691. 622
  2692. 00:38:44,825 --> 00:38:46,285
  2693. What the hell?
  2694.  
  2695. 623
  2696. 00:38:47,911 --> 00:38:49,037
  2697. Hit it.
  2698.  
  2699. 624
  2700. 00:38:49,121 --> 00:38:50,205
  2701. I am hitting it!
  2702.  
  2703. 625
  2704. 00:38:56,170 --> 00:38:57,713
  2705. Careful now. Don't hurt yourself.
  2706.  
  2707. 626
  2708. 00:39:00,007 --> 00:39:01,175
  2709. Stop. Just stop.
  2710.  
  2711. 627
  2712. 00:39:04,011 --> 00:39:07,681
  2713. We're about 50 yards from the green,
  2714. so we're gonna use a wedge.
  2715.  
  2716. 628
  2717. 00:39:14,396 --> 00:39:17,608
  2718. And you wanna swing it 'bout this hard.
  2719.  
  2720. 629
  2721. 00:39:22,279 --> 00:39:25,115
  2722. Remember, it's a wedge,
  2723. so don't be scared to swing it.
  2724.  
  2725. 630
  2726. 00:39:25,199 --> 00:39:26,366
  2727. What else you gonna do?
  2728.  
  2729. 631
  2730. 00:39:26,450 --> 00:39:27,910
  2731. Keep my f-ing head down.
  2732.  
  2733. 632
  2734. 00:39:27,993 --> 00:39:29,203
  2735. Jesus. Come on.
  2736.  
  2737. 633
  2738. 00:39:40,797 --> 00:39:41,798
  2739. It's right...
  2740.  
  2741. 634
  2742. 00:39:46,136 --> 00:39:48,555
  2743. Holy shit. Oh, my...
  2744.  
  2745. 635
  2746. 00:39:48,639 --> 00:39:49,640
  2747. Come on.
  2748.  
  2749. 636
  2750. 00:39:50,474 --> 00:39:52,226
  2751. I just kept my f-ing head down and...
  2752.  
  2753. 637
  2754. 00:40:00,484 --> 00:40:03,862
  2755. It's 432,000.
  2756.  
  2757. 638
  2758. 00:40:08,408 --> 00:40:10,118
  2759. Yeah. Yeah, that's right.
  2760.  
  2761. 639
  2762. 00:40:10,202 --> 00:40:11,882
  2763. You got it right, man.
  2764. You're getting this.
  2765.  
  2766. 640
  2767. 00:41:13,515 --> 00:41:14,766
  2768. What you want, Bernard?
  2769.  
  2770. 641
  2771. 00:41:14,850 --> 00:41:15,976
  2772. This is my time.
  2773.  
  2774. 642
  2775. 00:41:17,394 --> 00:41:18,520
  2776. I wanna buy a building.
  2777.  
  2778. 643
  2779. 00:41:20,397 --> 00:41:24,902
  2780. It has a $100,000 annual gross income,
  2781. 8% vacancy rate,
  2782.  
  2783. 644
  2784. 00:41:25,485 --> 00:41:30,490
  2785. $12,000 annual operating costs
  2786. and I require a 10% cap rate.
  2787.  
  2788. 645
  2789. 00:41:32,576 --> 00:41:34,786
  2790. What's the maximum purchase amount
  2791. I can offer?
  2792.  
  2793. 646
  2794. 00:41:41,710 --> 00:41:42,753
  2795. Where'd that go?
  2796.  
  2797. 647
  2798. 00:41:44,379 --> 00:41:47,966
  2799. Straight down the middle, 'bout...
  2800.  
  2801. 648
  2802. 00:41:49,218 --> 00:41:52,387
  2803. Shit, I don't even know.
  2804. I ain't never hit a ball that far.
  2805.  
  2806. 649
  2807. 00:41:52,471 --> 00:41:53,639
  2808. It's 800,000.
  2809.  
  2810. 650
  2811. 00:41:56,725 --> 00:41:58,227
  2812. - He's right.
  2813. - You're right.
  2814.  
  2815. 651
  2816. 00:41:58,310 --> 00:41:59,561
  2817. - He's right?
  2818. - Yeah.
  2819.  
  2820. 652
  2821. 00:42:00,771 --> 00:42:02,564
  2822. We have created a monster.
  2823.  
  2824. 653
  2825. 00:42:02,648 --> 00:42:03,815
  2826. You made the algebra easy.
  2827.  
  2828. 654
  2829. 00:42:03,899 --> 00:42:06,151
  2830. A month ago, you didn't know
  2831. what algebra was, Matt.
  2832.  
  2833. 655
  2834. 00:42:06,235 --> 00:42:07,945
  2835. - That's true.
  2836. - You have a knack for it.
  2837.  
  2838. 656
  2839. 00:42:12,699 --> 00:42:13,742
  2840. He's ready.
  2841.  
  2842. 657
  2843. 00:42:14,493 --> 00:42:16,620
  2844. Yep. He's ready.
  2845.  
  2846. 658
  2847. 00:42:17,955 --> 00:42:21,250
  2848. The Bankers Building is owned
  2849. by Charles Renault.
  2850.  
  2851. 659
  2852. 00:42:22,209 --> 00:42:23,919
  2853. It's 14 stories.
  2854.  
  2855. 660
  2856. 00:42:24,002 --> 00:42:27,464
  2857. 119,000 square feet of commercial space.
  2858.  
  2859. 661
  2860. 00:42:28,549 --> 00:42:30,342
  2861. It was built in 1929.
  2862.  
  2863. 662
  2864. 00:42:30,425 --> 00:42:33,720
  2865. And it's still the tallest
  2866. commercial building downtown
  2867.  
  2868. 663
  2869. 00:42:33,804 --> 00:42:37,140
  2870. <i>and generally considered the crown jewel
  2871. of downtown architecture.</i>
  2872.  
  2873. 664
  2874. 00:42:41,353 --> 00:42:42,729
  2875. That's his office?
  2876.  
  2877. 665
  2878. 00:42:42,813 --> 00:42:44,189
  2879. That's his office.
  2880.  
  2881. 666
  2882. 00:42:44,982 --> 00:42:46,900
  2883. <i>A converted ballroom.</i>
  2884.  
  2885. 667
  2886. 00:42:47,693 --> 00:42:49,945
  2887. <i>Holy shit. How rich is this guy?</i>
  2888.  
  2889. 668
  2890. 00:42:50,028 --> 00:42:51,113
  2891. <i>Very.</i>
  2892.  
  2893. 669
  2894. 00:42:51,613 --> 00:42:54,950
  2895. <i>Now, he won't take you seriously
  2896. without a proper introduction.</i>
  2897.  
  2898. 670
  2899. 00:42:55,033 --> 00:43:00,455
  2900. But I have arranged for you to bump
  2901. into him at the Hancock Park country club.
  2902.  
  2903. 671
  2904. 00:43:01,415 --> 00:43:03,750
  2905. Wait, that's the most exclusive club
  2906. in the city.
  2907.  
  2908. 672
  2909. 00:43:03,834 --> 00:43:05,043
  2910. I can't just walk in.
  2911.  
  2912. 673
  2913. 00:43:05,127 --> 00:43:06,211
  2914. Don't worry about that.
  2915.  
  2916. 674
  2917. 00:43:22,477 --> 00:43:24,271
  2918. Mr. Steiner, welcome.
  2919.  
  2920. 675
  2921. 00:43:24,354 --> 00:43:25,355
  2922. Thank you.
  2923.  
  2924. 676
  2925. 00:43:25,439 --> 00:43:28,317
  2926. Arrangements have been made
  2927. for you to use our club as a guest,
  2928.  
  2929. 677
  2930. 00:43:28,400 --> 00:43:31,236
  2931. per our exchange program
  2932. with your home club in Pennsylvania.
  2933.  
  2934. 678
  2935. 00:43:31,862 --> 00:43:34,198
  2936. Will your chauffeur be
  2937. waiting on the premises?
  2938.  
  2939. 679
  2940. 00:43:36,408 --> 00:43:37,951
  2941. I'll be just outside the gate.
  2942.  
  2943. 680
  2944. 00:43:38,577 --> 00:43:40,537
  2945. Anything goes south, you come find me.
  2946.  
  2947. 681
  2948. 00:43:41,371 --> 00:43:43,040
  2949. That won't happen, Mr. Morris.
  2950.  
  2951. 682
  2952. 00:43:44,791 --> 00:43:45,918
  2953. I promise.
  2954.  
  2955. 683
  2956. 00:43:46,001 --> 00:43:47,002
  2957. Thank you, Anton.
  2958.  
  2959. 684
  2960. 00:43:50,797 --> 00:43:52,716
  2961. - I'm worried.
  2962. - About what?
  2963.  
  2964. 685
  2965. 00:43:52,799 --> 00:43:54,843
  2966. I don't always do great under pressure.
  2967.  
  2968. 686
  2969. 00:43:55,636 --> 00:43:57,221
  2970. Come on. You're a natural.
  2971.  
  2972. 687
  2973. 00:43:57,304 --> 00:43:59,473
  2974. - Natural what?
  2975. - Performer.
  2976.  
  2977. 688
  2978. 00:44:00,432 --> 00:44:01,517
  2979. How do you know that?
  2980.  
  2981. 689
  2982. 00:44:01,600 --> 00:44:04,686
  2983. You think I got where I am in life
  2984. without being able to spot talent?
  2985.  
  2986. 690
  2987. 00:44:07,606 --> 00:44:08,607
  2988. Go get him.
  2989.  
  2990. 691
  2991. 00:44:09,858 --> 00:44:10,901
  2992. Yes, sir.
  2993.  
  2994. 692
  2995. 00:44:20,244 --> 00:44:21,286
  2996. Mr. Steiner?
  2997.  
  2998. 693
  2999. 00:44:21,995 --> 00:44:22,996
  3000. Yes?
  3001.  
  3002. 694
  3003. 00:44:23,080 --> 00:44:25,558
  3004. Jackie says you're playing as a single,
  3005. looking to be paired up.
  3006.  
  3007. 695
  3008. 00:44:25,582 --> 00:44:27,042
  3009. Always looking for a good game.
  3010.  
  3011. 696
  3012. 00:44:27,793 --> 00:44:29,670
  3013. If I can find someone to give me one.
  3014.  
  3015. 697
  3016. 00:44:29,753 --> 00:44:31,255
  3017. Charles Renault, good to meet you.
  3018.  
  3019. 698
  3020. 00:44:33,215 --> 00:44:34,675
  3021. Enjoying playing dress-up?
  3022.  
  3023. 699
  3024. 00:44:34,758 --> 00:44:36,844
  3025. You should try it sometime.
  3026. It's thrilling.
  3027.  
  3028. 700
  3029. 00:44:37,511 --> 00:44:38,846
  3030. No, thanks.
  3031.  
  3032. 701
  3033. 00:44:38,929 --> 00:44:42,182
  3034. So, you're okay with having a white boy
  3035. do your business for you,
  3036.  
  3037. 702
  3038. 00:44:42,266 --> 00:44:43,934
  3039. but you're not okay putting on a cap
  3040.  
  3041. 703
  3042. 00:44:44,017 --> 00:44:46,019
  3043. so you can keep an eye on him
  3044. while he does it?
  3045.  
  3046. 704
  3047. 00:44:46,562 --> 00:44:49,356
  3048. It's the only job I've been able to avoid
  3049. my entire life.
  3050.  
  3051. 705
  3052. 00:44:49,898 --> 00:44:51,567
  3053. I'd like to try and keep it that way.
  3054.  
  3055. 706
  3056. 00:45:05,539 --> 00:45:07,416
  3057. Jimmy, I think we got ourselves a game.
  3058.  
  3059. 707
  3060. 00:45:09,168 --> 00:45:10,210
  3061. Okay.
  3062.  
  3063. 708
  3064. 00:45:10,961 --> 00:45:12,504
  3065. So, we're really gonna do this now?
  3066.  
  3067. 709
  3068. 00:45:12,588 --> 00:45:16,133
  3069. If by "we," you mean "you," yeah.
  3070.  
  3071. 710
  3072. 00:45:38,155 --> 00:45:39,198
  3073. Remember,
  3074.  
  3075. 711
  3076. 00:45:40,157 --> 00:45:41,283
  3077. eyes on the ball.
  3078.  
  3079. 712
  3080. 00:45:41,366 --> 00:45:42,618
  3081. And keep my f-ing head down.
  3082.  
  3083. 713
  3084. 00:45:46,914 --> 00:45:48,040
  3085. Make me proud, son.
  3086.  
  3087. 714
  3088. 00:45:57,299 --> 00:46:00,052
  3089. He's gonna claim he's renting
  3090. for 20 cents a square foot,
  3091.  
  3092. 715
  3093. 00:46:00,135 --> 00:46:01,136
  3094. but that's poppycock.
  3095.  
  3096. 716
  3097. 00:46:01,220 --> 00:46:02,221
  3098. It's more like 15.
  3099.  
  3100. 717
  3101. 00:46:04,598 --> 00:46:08,894
  3102. <i>See, this whole thing is about getting you
  3103. to agree to a higher base value.</i>
  3104.  
  3105. 718
  3106. 00:46:08,977 --> 00:46:10,521
  3107. Which I won't do.
  3108.  
  3109. 719
  3110. 00:46:10,604 --> 00:46:12,940
  3111. He's gonna test you. Probe you.
  3112.  
  3113. 720
  3114. 00:46:21,573 --> 00:46:25,661
  3115. You give him the slightest reason
  3116. to doubt your command of the numbers,
  3117.  
  3118. 721
  3119. 00:46:25,744 --> 00:46:27,579
  3120. he'll see straight through you.
  3121.  
  3122. 722
  3123. 00:46:27,663 --> 00:46:28,789
  3124. So you gotta impress him.
  3125.  
  3126. 723
  3127. 00:46:29,831 --> 00:46:31,166
  3128. <i>Like you did on the first tee.</i>
  3129.  
  3130. 724
  3131. 00:46:32,209 --> 00:46:33,210
  3132. Okay, so what do I do?
  3133.  
  3134. 725
  3135. 00:46:33,293 --> 00:46:36,755
  3136. What's the equivalent
  3137. of a 300-yard tee shot in negotiation?
  3138.  
  3139. 726
  3140. 00:46:39,007 --> 00:46:40,217
  3141. A four-course lunch.
  3142.  
  3143. 727
  3144. 00:46:48,642 --> 00:46:50,394
  3145. Flown in from France once a week.
  3146.  
  3147. 728
  3148. 00:46:51,478 --> 00:46:52,479
  3149. Enjoy.
  3150.  
  3151. 729
  3152. 00:46:58,110 --> 00:47:00,445
  3153. Okay, we lease at 20 cents a square foot.
  3154.  
  3155. 730
  3156. 00:47:00,529 --> 00:47:03,740
  3157. That's 272,880 gross per year.
  3158.  
  3159. 731
  3160. 00:47:03,824 --> 00:47:05,409
  3161. Eighty thousand expenses.
  3162.  
  3163. 732
  3164. 00:47:05,492 --> 00:47:07,369
  3165. That's 192,880 in profit.
  3166.  
  3167. 733
  3168. 00:47:08,036 --> 00:47:12,165
  3169. 10% cap rate on that
  3170. will get us to 1,928,880.
  3171.  
  3172. 734
  3173. 00:47:12,666 --> 00:47:17,087
  3174. 25% premium on that would be 2,411,100.
  3175.  
  3176. 735
  3177. 00:47:18,672 --> 00:47:21,008
  3178. If that's what you're offering,
  3179. I'm interested.
  3180.  
  3181. 736
  3182. 00:47:24,261 --> 00:47:25,470
  3183. Here's my problem, Charles.
  3184.  
  3185. 737
  3186. 00:47:25,554 --> 00:47:28,098
  3187. I know you have leases
  3188. at 15 cents a square foot.
  3189.  
  3190. 738
  3191. 00:47:28,182 --> 00:47:29,641
  3192. You know, big long-term leases.
  3193.  
  3194. 739
  3195. 00:47:29,725 --> 00:47:31,661
  3196. So even if you have
  3197. a few suckers paying 20 cents...
  3198.  
  3199. 740
  3200. 00:47:31,685 --> 00:47:32,769
  3201. More than a few.
  3202.  
  3203. 741
  3204. 00:47:34,062 --> 00:47:35,689
  3205. Fine, call the average 18 cents,
  3206.  
  3207. 742
  3208. 00:47:35,772 --> 00:47:37,524
  3209. so that would be a net income of...
  3210.  
  3211. 743
  3212. 00:47:37,608 --> 00:47:41,153
  3213. 245,592. But that's not important.
  3214.  
  3215. 744
  3216. 00:47:41,236 --> 00:47:44,114
  3217. I mean, if you wanna show me your leases
  3218. and prove it, okay.
  3219.  
  3220. 745
  3221. 00:47:44,198 --> 00:47:46,283
  3222. Otherwise, I'd call it
  3223. 15 cents a square foot.
  3224.  
  3225. 746
  3226. 00:47:46,366 --> 00:47:48,160
  3227. - Fifteen is too low.
  3228. - Fifteen is generous.
  3229.  
  3230. 747
  3231. 00:47:48,243 --> 00:47:51,038
  3232. Especially when you factor in vacancies,
  3233. which are at least 9%.
  3234.  
  3235. 748
  3236. 00:47:51,121 --> 00:47:52,915
  3237. - Less than that.
  3238. - I counted 12.
  3239.  
  3240. 749
  3241. 00:47:52,998 --> 00:47:54,708
  3242. How could you possibly know that?
  3243.  
  3244. 750
  3245. 00:47:55,501 --> 00:47:56,793
  3246. Charles, it's November.
  3247.  
  3248. 751
  3249. 00:47:57,669 --> 00:47:59,254
  3250. <i>It gets dark by 5:00 p.m.</i>
  3251.  
  3252. 752
  3253. 00:48:02,049 --> 00:48:04,110
  3254. <i>If you wanna bullshit someone
  3255. about your vacancy rate,</i>
  3256.  
  3257. 753
  3258. 00:48:04,134 --> 00:48:06,970
  3259. you need lights shining
  3260. in all those unleased spaces by 4:30.
  3261.  
  3262. 754
  3263. 00:48:07,513 --> 00:48:09,890
  3264. I don't blame you for not doing it.
  3265. It's a lot of work.
  3266.  
  3267. 755
  3268. 00:48:09,973 --> 00:48:12,368
  3269. But those vacancies would
  3270. take you to 13.5 cents a square foot.
  3271.  
  3272. 756
  3273. 00:48:12,392 --> 00:48:13,477
  3274. We'll fill some of those.
  3275.  
  3276. 757
  3277. 00:48:13,560 --> 00:48:15,604
  3278. Let's call it 16 cents. Fair?
  3279.  
  3280. 758
  3281. 00:48:16,271 --> 00:48:21,610
  3282. That's a $1,383,000 valuation
  3283. at a 10% cap rate.
  3284.  
  3285. 759
  3286. 00:48:22,611 --> 00:48:25,364
  3287. But, of course a 10% cap rate
  3288. is too low for this market.
  3289.  
  3290. 760
  3291. 00:48:25,447 --> 00:48:28,116
  3292. My partners and I have multiple deals
  3293. with 12% returns,
  3294.  
  3295. 761
  3296. 00:48:28,867 --> 00:48:30,244
  3297. which would be...
  3298.  
  3299. 762
  3300. 00:48:30,327 --> 00:48:36,083
  3301. $1,152,533 underlying valuation.
  3302.  
  3303. 763
  3304. 00:48:37,835 --> 00:48:42,464
  3305. 1,152,533.
  3306.  
  3307. 764
  3308. 00:48:44,383 --> 00:48:46,009
  3309. How do you do this in your head?
  3310.  
  3311. 765
  3312. 00:48:46,677 --> 00:48:48,762
  3313. There's no way I can do this math.
  3314.  
  3315. 766
  3316. 00:48:49,972 --> 00:48:52,391
  3317. Well, you know, maybe I could fake it?
  3318.  
  3319. 767
  3320. 00:48:53,141 --> 00:48:54,142
  3321. How?
  3322.  
  3323. 768
  3324. 00:48:56,311 --> 00:48:57,646
  3325. Practice.
  3326.  
  3327. 769
  3328. 00:48:57,729 --> 00:48:58,814
  3329. I'll just memorize it.
  3330.  
  3331. 770
  3332. 00:49:00,858 --> 00:49:01,900
  3333. All of it?
  3334.  
  3335. 771
  3336. 00:49:03,068 --> 00:49:04,528
  3337. Yeah, I got a pretty good memory.
  3338.  
  3339. 772
  3340. 00:49:05,487 --> 00:49:06,572
  3341. That good?
  3342.  
  3343. 773
  3344. 00:49:06,655 --> 00:49:08,365
  3345. Well, I got a week to learn it, right?
  3346.  
  3347. 774
  3348. 00:49:09,783 --> 00:49:11,243
  3349. Hustling a hustler.
  3350.  
  3351. 775
  3352. 00:49:11,326 --> 00:49:12,578
  3353. I love it.
  3354.  
  3355. 776
  3356. 00:49:13,787 --> 00:49:15,038
  3357. But, if this works,
  3358.  
  3359. 777
  3360. 00:49:15,706 --> 00:49:17,666
  3361. Renault's gonna challenge you
  3362. on the cap rate.
  3363.  
  3364. 778
  3365. 00:49:17,749 --> 00:49:19,793
  3366. So you need to get ready for it.
  3367.  
  3368. 779
  3369. 00:49:20,752 --> 00:49:23,046
  3370. Look, this is downtown.
  3371. The risk here is very low.
  3372.  
  3373. 780
  3374. 00:49:23,672 --> 00:49:25,257
  3375. It doesn't warrant a 12% return.
  3376.  
  3377. 781
  3378. 00:49:25,799 --> 00:49:27,509
  3379. I'm firm with a 10% cap rate.
  3380.  
  3381. 782
  3382. 00:49:28,010 --> 00:49:31,513
  3383. He's gonna try to hold you
  3384. to a 10% cap rate on the underlying value,
  3385.  
  3386. 783
  3387. 00:49:31,597 --> 00:49:33,098
  3388. which we're not gonna take.
  3389.  
  3390. 784
  3391. 00:49:33,599 --> 00:49:36,018
  3392. Not with a 25% premium going to him.
  3393.  
  3394. 785
  3395. 00:49:36,101 --> 00:49:38,478
  3396. But you're gonna need
  3397. somewhere to go in the conversation.
  3398.  
  3399. 786
  3400. 00:49:38,562 --> 00:49:42,024
  3401. So I want you to memorize
  3402. the 10.5% cap rate scenario as well.
  3403.  
  3404. 787
  3405. 00:49:42,107 --> 00:49:48,447
  3406. But a 25% premium on a 10.5% cap rate
  3407. is too high, right?
  3408.  
  3409. 788
  3410. 00:49:52,201 --> 00:49:57,331
  3411. 10.5% cap rate means
  3412. $1,317,000 underlying.
  3413.  
  3414. 789
  3415. 00:49:57,414 --> 00:50:02,669
  3416. With the 25% premium, that's $1,646,250.
  3417.  
  3418. 790
  3419. 00:50:03,462 --> 00:50:04,546
  3420. Too high.
  3421.  
  3422. 791
  3423. 00:50:04,630 --> 00:50:06,715
  3424. Yeah, that sounds too high.
  3425.  
  3426. 792
  3427. 00:50:06,798 --> 00:50:09,593
  3428. You goddamn right it's too high.
  3429.  
  3430. 793
  3431. 00:50:11,887 --> 00:50:13,722
  3432. So maybe you can sell him a choice.
  3433.  
  3434. 794
  3435. 00:50:15,891 --> 00:50:17,267
  3436. Mr. Renault, I like you.
  3437.  
  3438. 795
  3439. 00:50:17,768 --> 00:50:20,521
  3440. First halfway decent golf game I've had
  3441. since I've moved here.
  3442.  
  3443. 796
  3444. 00:50:20,604 --> 00:50:24,441
  3445. But if you want us to value this building
  3446. at a 10% cap rate in a booming market,
  3447.  
  3448. 797
  3449. 00:50:24,525 --> 00:50:26,276
  3450. where we can get 12% elsewhere,
  3451.  
  3452. 798
  3453. 00:50:26,818 --> 00:50:29,821
  3454. we're not gonna give you
  3455. an instant 25% profit in the markup.
  3456.  
  3457. 799
  3458. 00:50:31,073 --> 00:50:32,074
  3459. Tell you what.
  3460.  
  3461. 800
  3462. 00:50:32,950 --> 00:50:34,201
  3463. I'll give you two options.
  3464.  
  3465. 801
  3466. 00:50:35,118 --> 00:50:40,415
  3467. We get an 11% capital return rate
  3468. and you get your 25% profit in the markup,
  3469.  
  3470. 802
  3471. 00:50:40,499 --> 00:50:46,755
  3472. or we get a 10.5% cap rate and you take
  3473. an 18% instead of a 25% markup.
  3474.  
  3475. 803
  3476. 00:50:47,214 --> 00:50:49,341
  3477. You can choose. But...
  3478.  
  3479. 804
  3480. 00:50:50,259 --> 00:50:51,552
  3481. he can't help you.
  3482.  
  3483. 805
  3484. 00:50:56,515 --> 00:50:58,475
  3485. You're not what I expected, Matt Steiner.
  3486.  
  3487. 806
  3488. 00:51:01,645 --> 00:51:02,729
  3489. I'll take the latter.
  3490.  
  3491. 807
  3492. 00:51:03,397 --> 00:51:04,398
  3493. Okay.
  3494.  
  3495. 808
  3496. 00:51:05,274 --> 00:51:06,316
  3497. How'd I do?
  3498.  
  3499. 809
  3500. 00:51:07,943 --> 00:51:09,611
  3501. You left 17,000 on the table.
  3502.  
  3503. 810
  3504. 00:51:11,196 --> 00:51:12,447
  3505. Oh, well.
  3506.  
  3507. 811
  3508. 00:51:12,531 --> 00:51:16,493
  3509. - What's the number?
  3510. - $1,554,060.
  3511.  
  3512. 812
  3513. 00:51:16,577 --> 00:51:21,540
  3514. But, we can call it an even 1,560,000
  3515. if you leave me that desk.
  3516.  
  3517. 813
  3518. 00:51:26,003 --> 00:51:27,337
  3519. I can't believe it worked.
  3520.  
  3521. 814
  3522. 00:51:28,005 --> 00:51:28,881
  3523. I can.
  3524.  
  3525. 815
  3526. 00:51:28,964 --> 00:51:30,716
  3527. Tomorrow we meet the tenants,
  3528.  
  3529. 816
  3530. 00:51:30,799 --> 00:51:33,719
  3531. introduce ourselves as Matt's partners,
  3532.  
  3533. 817
  3534. 00:51:33,802 --> 00:51:37,055
  3535. and watch the jaws drop.
  3536.  
  3537. 818
  3538. 00:51:41,059 --> 00:51:44,271
  3539. Maybe I should call a photographer
  3540. so you capture the moment.
  3541.  
  3542. 819
  3543. 00:51:44,354 --> 00:51:45,856
  3544. - Joe.
  3545. - What?
  3546.  
  3547. 820
  3548. 00:51:46,440 --> 00:51:47,733
  3549. Too much?
  3550.  
  3551. 821
  3552. 00:51:47,816 --> 00:51:49,693
  3553. Yeah. Cheers.
  3554.  
  3555. 822
  3556. 00:52:17,596 --> 00:52:19,056
  3557. Hello.
  3558.  
  3559. 823
  3560. 00:53:18,156 --> 00:53:19,157
  3561. Smile.
  3562.  
  3563. 824
  3564. 00:54:46,203 --> 00:54:47,871
  3565. Hi, Pop.
  3566.  
  3567. 825
  3568. 00:54:47,955 --> 00:54:50,082
  3569. How you doing?
  3570.  
  3571. 826
  3572. 00:54:50,165 --> 00:54:52,292
  3573. And who's this right here?
  3574. Who's this right here?
  3575.  
  3576. 827
  3577. 00:54:52,376 --> 00:54:53,418
  3578. Hey, Grandpa.
  3579.  
  3580. 828
  3581. 00:54:56,588 --> 00:54:57,589
  3582. Dad.
  3583.  
  3584. 829
  3585. 00:55:04,179 --> 00:55:06,324
  3586. - Here, get some of these sweet potatoes.
  3587. - No, thank you.
  3588.  
  3589. 830
  3590. 00:55:06,348 --> 00:55:08,684
  3591. What kind of growing boy
  3592. don't like sweet potato mash?
  3593.  
  3594. 831
  3595. 00:55:08,767 --> 00:55:10,727
  3596. Sweetie, try 'em. They're delicious.
  3597.  
  3598. 832
  3599. 00:55:10,811 --> 00:55:12,187
  3600. Daddy met the vice president.
  3601.  
  3602. 833
  3603. 00:55:12,855 --> 00:55:14,189
  3604. Really now?
  3605.  
  3606. 834
  3607. 00:55:14,273 --> 00:55:16,692
  3608. Yes, he did. Bernard is being modest.
  3609.  
  3610. 835
  3611. 00:55:18,068 --> 00:55:19,194
  3612. LBJ?
  3613.  
  3614. 836
  3615. 00:55:19,611 --> 00:55:22,155
  3616. Yes, sir. He came by the Bankers Building.
  3617.  
  3618. 837
  3619. 00:55:23,365 --> 00:55:24,449
  3620. Yes, son.
  3621.  
  3622. 838
  3623. 00:55:29,997 --> 00:55:31,540
  3624. Smooth. Very smooth.
  3625.  
  3626. 839
  3627. 00:55:32,207 --> 00:55:33,458
  3628. Thought you didn't smoke.
  3629.  
  3630. 840
  3631. 00:55:33,542 --> 00:55:34,543
  3632. No. I don't.
  3633.  
  3634. 841
  3635. 00:55:35,043 --> 00:55:36,545
  3636. But I know you like 'em, so...
  3637.  
  3638. 842
  3639. 00:55:37,045 --> 00:55:38,964
  3640. These are a lot nicer than what I smoke.
  3641.  
  3642. 843
  3643. 00:55:42,176 --> 00:55:44,761
  3644. You doing so well
  3645. out there in Los Angeles.
  3646.  
  3647. 844
  3648. 00:55:45,762 --> 00:55:46,889
  3649. Guess you were right.
  3650.  
  3651. 845
  3652. 00:55:47,556 --> 00:55:48,557
  3653. About what?
  3654.  
  3655. 846
  3656. 00:55:48,974 --> 00:55:50,934
  3657. Earning money the way white men do.
  3658.  
  3659. 847
  3660. 00:55:51,393 --> 00:55:53,312
  3661. Found you a place where you could do that.
  3662.  
  3663. 848
  3664. 00:55:54,313 --> 00:55:57,316
  3665. Still... no chance of doing that here.
  3666.  
  3667. 849
  3668. 00:55:57,816 --> 00:55:59,193
  3669. It might even be worse.
  3670.  
  3671. 850
  3672. 00:55:59,276 --> 00:56:02,279
  3673. No, it's not perfect in California, but...
  3674.  
  3675. 851
  3676. 00:56:03,572 --> 00:56:04,573
  3677. it is different.
  3678.  
  3679. 852
  3680. 00:56:05,490 --> 00:56:09,286
  3681. I don't... I don't think it's California.
  3682.  
  3683. 853
  3684. 00:56:12,164 --> 00:56:13,415
  3685. I'm proud of you, son.
  3686.  
  3687. 854
  3688. 00:56:28,764 --> 00:56:29,848
  3689. Where you going?
  3690.  
  3691. 855
  3692. 00:56:30,390 --> 00:56:31,683
  3693. Taking a walk through town.
  3694.  
  3695. 856
  3696. 00:56:34,436 --> 00:56:35,521
  3697. Dressed like that?
  3698.  
  3699. 857
  3700. 00:56:36,647 --> 00:56:38,690
  3701. Going on the other side of the tracks.
  3702.  
  3703. 858
  3704. 00:56:40,692 --> 00:56:42,194
  3705. You make sure you wear your tie.
  3706.  
  3707. 859
  3708. 00:56:43,445 --> 00:56:44,446
  3709. I planned on it.
  3710.  
  3711. 860
  3712. 00:56:48,075 --> 00:56:49,243
  3713. Take Junior with you.
  3714.  
  3715. 861
  3716. 00:56:51,578 --> 00:56:53,789
  3717. He needs to see where he comes from
  3718. up close.
  3719.  
  3720. 862
  3721. 00:57:44,214 --> 00:57:45,841
  3722. Why the fountains separated, Dad?
  3723.  
  3724. 863
  3725. 00:57:49,011 --> 00:57:50,637
  3726. It's just different down here, son.
  3727.  
  3728. 864
  3729. 00:57:51,597 --> 00:57:52,598
  3730. Yeah.
  3731.  
  3732. 865
  3733. 00:57:53,307 --> 00:57:54,683
  3734. I'm sorry you had to see that.
  3735.  
  3736. 866
  3737. 00:57:55,893 --> 00:57:56,894
  3738. It's okay.
  3739.  
  3740. 867
  3741. 00:57:57,811 --> 00:57:59,271
  3742. Hey, how much for a shine?
  3743.  
  3744. 868
  3745. 00:57:59,354 --> 00:58:00,856
  3746. Only do white folks here, sir.
  3747.  
  3748. 869
  3749. 00:58:14,912 --> 00:58:16,330
  3750. <i>You think this is a mistake?</i>
  3751.  
  3752. 870
  3753. 00:58:17,664 --> 00:58:19,374
  3754. I think the world is changing.
  3755.  
  3756. 871
  3757. 00:58:21,251 --> 00:58:23,629
  3758. But maybe it hasn't changed enough
  3759. in Texas.
  3760.  
  3761. 872
  3762. 00:58:27,174 --> 00:58:28,675
  3763. I feel like I have to do this.
  3764.  
  3765. 873
  3766. 00:58:31,220 --> 00:58:32,346
  3767. I know.
  3768.  
  3769. 874
  3770. 00:58:33,347 --> 00:58:35,098
  3771. And that is why I support you.
  3772.  
  3773. 875
  3774. 00:58:37,851 --> 00:58:39,645
  3775. What the hell do we know about banking?
  3776.  
  3777. 876
  3778. 00:58:40,145 --> 00:58:43,690
  3779. Banks take deposits and make loans,
  3780. mostly on property.
  3781.  
  3782. 877
  3783. 00:58:44,358 --> 00:58:47,819
  3784. Owning a bank is like owning the other
  3785. side of the real estate business.
  3786.  
  3787. 878
  3788. 00:58:47,903 --> 00:58:51,114
  3789. I'm pretty sure there's a few complexities
  3790. you just left out.
  3791.  
  3792. 879
  3793. 00:58:51,740 --> 00:58:56,328
  3794. Like we black,
  3795. and this goddamn bank is in Texas.
  3796.  
  3797. 880
  3798. 00:58:56,411 --> 00:58:59,289
  3799. There's no Texas law
  3800. that says we can't own a bank.
  3801.  
  3802. 881
  3803. 00:58:59,373 --> 00:59:02,960
  3804. I concede, us being black
  3805. may be an issue, practically speaking.
  3806.  
  3807. 882
  3808. 00:59:03,043 --> 00:59:04,837
  3809. You willing to concede that?
  3810.  
  3811. 883
  3812. 00:59:04,920 --> 00:59:06,547
  3813. Well, we get Matt to front for us.
  3814.  
  3815. 884
  3816. 00:59:06,630 --> 00:59:07,714
  3817. No shit.
  3818.  
  3819. 885
  3820. 00:59:07,798 --> 00:59:10,300
  3821. But here in LA
  3822. Matt unlocks the doors for us,
  3823.  
  3824. 886
  3825. 00:59:10,384 --> 00:59:12,052
  3826. he don't run the business day-to-day,
  3827.  
  3828. 887
  3829. 00:59:12,135 --> 00:59:15,097
  3830. much less a banking business,
  3831. which is not simple.
  3832.  
  3833. 888
  3834. 00:59:15,180 --> 00:59:16,765
  3835. We'd have to monitor things closely.
  3836.  
  3837. 889
  3838. 00:59:16,849 --> 00:59:18,559
  3839. And how the hell you plan to do that?
  3840.  
  3841. 890
  3842. 00:59:18,642 --> 00:59:21,311
  3843. We can't set foot in a bank in Texas
  3844. unless we're the help.
  3845.  
  3846. 891
  3847. 00:59:21,770 --> 00:59:23,605
  3848. I thought that would be
  3849. your favorite part.
  3850.  
  3851. 892
  3852. 00:59:23,689 --> 00:59:24,940
  3853. I live in LA.
  3854.  
  3855. 893
  3856. 00:59:25,023 --> 00:59:27,442
  3857. I don't plan on moving to Texas. Do you?
  3858.  
  3859. 894
  3860. 00:59:27,526 --> 00:59:28,861
  3861. During the business week.
  3862.  
  3863. 895
  3864. 00:59:28,944 --> 00:59:31,822
  3865. And work as a janitor in a bank you own?
  3866.  
  3867. 896
  3868. 00:59:31,905 --> 00:59:32,906
  3869. Won't have to.
  3870.  
  3871. 897
  3872. 00:59:32,990 --> 00:59:35,868
  3873. Matt comes to me with the bank business
  3874. at the end of every day.
  3875.  
  3876. 898
  3877. 00:59:35,951 --> 00:59:39,037
  3878. What makes you think he's willing to move
  3879. to the middle of nowhere?
  3880.  
  3881. 899
  3882. 00:59:39,121 --> 00:59:41,915
  3883. No offense to your cosmopolitan hometown.
  3884.  
  3885. 900
  3886. 00:59:42,374 --> 00:59:46,044
  3887. Plus Matt's got a pretty good gig here.
  3888.  
  3889. 901
  3890. 00:59:46,128 --> 00:59:47,671
  3891. We'd have to make it worth his while.
  3892.  
  3893. 902
  3894. 00:59:47,754 --> 00:59:51,592
  3895. Great, so now we gonna pay him even more
  3896. money than we pay him to be white.
  3897.  
  3898. 903
  3899. 00:59:52,551 --> 00:59:56,138
  3900. Joe, think about all the good we can do
  3901. for the Negro community down there.
  3902.  
  3903. 904
  3904. 00:59:56,555 --> 00:59:58,390
  3905. Help 'em buy homes, start businesses.
  3906.  
  3907. 905
  3908. 00:59:59,558 --> 01:00:02,853
  3909. And aside from all that,
  3910. that bank is undervalued.
  3911.  
  3912. 906
  3913. 01:00:04,188 --> 01:00:07,149
  3914. There's enough capital
  3915. to double its loan base.
  3916.  
  3917. 907
  3918. 01:00:07,608 --> 01:00:08,901
  3919. We could make a lot of money.
  3920.  
  3921. 908
  3922. 01:00:08,984 --> 01:00:10,694
  3923. We make a lot of money now.
  3924.  
  3925. 909
  3926. 01:00:11,445 --> 01:00:13,322
  3927. You gonna stand there with a straight face
  3928.  
  3929. 910
  3930. 01:00:13,405 --> 01:00:16,408
  3931. and tell me there's a business argument
  3932. to do this?
  3933.  
  3934. 911
  3935. 01:00:16,491 --> 01:00:18,660
  3936. This is social activism, Bernard.
  3937.  
  3938. 912
  3939. 01:00:18,744 --> 01:00:19,745
  3940. Plain and simple.
  3941.  
  3942. 913
  3943. 01:00:20,162 --> 01:00:22,039
  3944. There's plenty other ways to do that.
  3945.  
  3946. 914
  3947. 01:00:22,956 --> 01:00:26,084
  3948. Or maybe you're feeling guilty about
  3949. leaving your father behind.
  3950.  
  3951. 915
  3952. 01:00:26,168 --> 01:00:27,169
  3953. Let me tell you this.
  3954.  
  3955. 916
  3956. 01:00:27,711 --> 01:00:31,757
  3957. If one trip home can
  3958. cripple your rational functions like this,
  3959.  
  3960. 917
  3961. 01:00:31,840 --> 01:00:32,841
  3962. we in trouble.
  3963.  
  3964. 918
  3965. 01:00:34,384 --> 01:00:35,636
  3966. With all due respect, Joe,
  3967.  
  3968. 919
  3969. 01:00:35,719 --> 01:00:37,763
  3970. I think this is something
  3971. you won't understand.
  3972.  
  3973. 920
  3974. 01:00:37,846 --> 01:00:38,847
  3975. I'm sorry.
  3976.  
  3977. 921
  3978. 01:00:38,931 --> 01:00:40,641
  3979. Did I not wake up black this morning?
  3980.  
  3981. 922
  3982. 01:00:40,724 --> 01:00:42,226
  3983. 'Cause I'm pretty sure I did.
  3984.  
  3985. 923
  3986. 01:00:42,726 --> 01:00:44,269
  3987. Yep, still black.
  3988.  
  3989. 924
  3990. 01:00:44,353 --> 01:00:48,607
  3991. Are you telling me because I grew up
  3992. in California with a little bit of money,
  3993.  
  3994. 925
  3995. 01:00:48,690 --> 01:00:50,400
  3996. I'm not black in your eyes?
  3997.  
  3998. 926
  3999. 01:00:50,776 --> 01:00:52,486
  4000. I wasn't trying to make this personal.
  4001.  
  4002. 927
  4003. 01:00:54,363 --> 01:00:55,405
  4004. Yes, you were.
  4005.  
  4006. 928
  4007. 01:00:59,618 --> 01:01:00,661
  4008. I'm sorry.
  4009.  
  4010. 929
  4011. 01:01:04,081 --> 01:01:06,458
  4012. Bernard, if we go down to Texas
  4013.  
  4014. 930
  4015. 01:01:06,542 --> 01:01:09,127
  4016. and start screwing around with Jim Crow,
  4017. we gonna lose.
  4018.  
  4019. 931
  4020. 01:01:09,211 --> 01:01:10,921
  4021. Don't matter whether it's legal or not.
  4022.  
  4023. 932
  4024. 01:01:11,421 --> 01:01:14,216
  4025. Even if Dr. King
  4026. gets civil rights legislation,
  4027.  
  4028. 933
  4029. 01:01:14,299 --> 01:01:15,759
  4030. it ain't gonna happen fast enough
  4031.  
  4032. 934
  4033. 01:01:15,843 --> 01:01:18,303
  4034. for us to get out of this
  4035. without losing our shirts.
  4036.  
  4037. 935
  4038. 01:01:21,265 --> 01:01:22,599
  4039. Bring your father out here.
  4040.  
  4041. 936
  4042. 01:01:22,683 --> 01:01:24,017
  4043. Help him directly.
  4044.  
  4045. 937
  4046. 01:01:24,351 --> 01:01:27,437
  4047. And get rid of that notion that you can
  4048. save every black man in Texas,
  4049.  
  4050. 938
  4051. 01:01:27,521 --> 01:01:28,772
  4052. 'cause you can't.
  4053.  
  4054. 939
  4055. 01:01:29,982 --> 01:01:32,401
  4056. I understand if you don't want to
  4057. partner with me on it.
  4058.  
  4059. 940
  4060. 01:01:33,485 --> 01:01:35,612
  4061. You can't buy this bank
  4062. on your own, Bernard.
  4063.  
  4064. 941
  4065. 01:01:35,696 --> 01:01:36,697
  4066. Not at that price.
  4067.  
  4068. 942
  4069. 01:01:37,114 --> 01:01:39,116
  4070. Then I'll find someone else
  4071. to do it with me.
  4072.  
  4073. 943
  4074. 01:01:42,119 --> 01:01:43,662
  4075. Jesus H. Christ.
  4076.  
  4077. 944
  4078. 01:01:45,706 --> 01:01:48,166
  4079. I told you getting rich
  4080. was going to change you.
  4081.  
  4082. 945
  4083. 01:01:51,128 --> 01:01:55,257
  4084. Mark my words. This is a bad idea.
  4085.  
  4086. 946
  4087. 01:01:56,133 --> 01:01:59,928
  4088. But it's even more bodacious
  4089. than us buying that Bankers Building.
  4090.  
  4091. 947
  4092. 01:02:00,387 --> 01:02:02,389
  4093. And we sure enough pulled that off,
  4094. didn't we?
  4095.  
  4096. 948
  4097. 01:02:05,934 --> 01:02:07,519
  4098. All right. I'm in.
  4099.  
  4100. 949
  4101. 01:02:09,479 --> 01:02:10,522
  4102. Shit.
  4103.  
  4104. 950
  4105. 01:02:19,573 --> 01:02:23,619
  4106. For the record I say you guys are out of
  4107. your minds, completely out of your minds.
  4108.  
  4109. 951
  4110. 01:02:23,702 --> 01:02:24,703
  4111. You ready?
  4112.  
  4113. 952
  4114. 01:02:25,245 --> 01:02:26,288
  4115. I...
  4116.  
  4117. 953
  4118. 01:02:26,371 --> 01:02:28,707
  4119. Could you tell me how a bank works
  4120. in three sentences?
  4121.  
  4122. 954
  4123. 01:02:30,959 --> 01:02:34,129
  4124. A bakery makes a profit by selling bread
  4125. for more than it cost to make.
  4126.  
  4127. 955
  4128. 01:02:34,755 --> 01:02:35,756
  4129. A bank makes a profit
  4130.  
  4131. 956
  4132. 01:02:35,839 --> 01:02:39,676
  4133. by selling loans for more than it costs to
  4134. get the money needed to make those loans.
  4135.  
  4136. 957
  4137. 01:02:39,760 --> 01:02:42,763
  4138. Basically, a bank gets money
  4139. from depositors at 3%
  4140.  
  4141. 958
  4142. 01:02:42,846 --> 01:02:43,972
  4143. and loans it out at five.
  4144.  
  4145. 959
  4146. 01:02:44,056 --> 01:02:46,725
  4147. Wow. That actually was three sentences.
  4148.  
  4149. 960
  4150. 01:02:48,977 --> 01:02:49,978
  4151. Let's go.
  4152.  
  4153. 961
  4154. 01:02:51,146 --> 01:02:52,189
  4155. This should be fun.
  4156.  
  4157. 962
  4158. 01:02:53,106 --> 01:02:54,233
  4159. You gonna put the hat on?
  4160.  
  4161. 963
  4162. 01:02:54,316 --> 01:02:55,317
  4163. I'll pass.
  4164.  
  4165. 964
  4166. 01:02:55,776 --> 01:02:56,777
  4167. All righty then.
  4168.  
  4169. 965
  4170. 01:02:57,361 --> 01:02:58,487
  4171. Shall we?
  4172.  
  4173. 966
  4174. 01:03:07,788 --> 01:03:10,290
  4175. Gentlemen, Don Silverthorne.
  4176.  
  4177. 967
  4178. 01:03:11,333 --> 01:03:12,519
  4179. - Robert Florance.
  4180. - Matt Steiner.
  4181.  
  4182. 968
  4183. 01:03:12,543 --> 01:03:13,544
  4184. Robert Florance Jr.
  4185.  
  4186. 969
  4187. 01:03:14,795 --> 01:03:16,547
  4188. - Next.
  4189. - Please, gentlemen, come in.
  4190.  
  4191. 970
  4192. 01:03:16,630 --> 01:03:17,714
  4193. Thank you.
  4194.  
  4195. 971
  4196. 01:03:19,508 --> 01:03:21,301
  4197. Yes, of course. Gentlemen.
  4198.  
  4199. 972
  4200. 01:03:24,805 --> 01:03:28,600
  4201. My son's guaranteed a position
  4202. to protect my remaining 20% interest?
  4203.  
  4204. 973
  4205. 01:03:28,684 --> 01:03:29,828
  4206. You'll see that in the addendum.
  4207.  
  4208. 974
  4209. 01:03:29,852 --> 01:03:32,479
  4210. But he won't be the bank's
  4211. exclusive loan officer any longer.
  4212.  
  4213. 975
  4214. 01:03:32,563 --> 01:03:35,941
  4215. My clients' primary interest in buying
  4216. the bank is to increase the loan volume
  4217.  
  4218. 976
  4219. 01:03:36,024 --> 01:03:37,818
  4220. and thus the profitability of the bank.
  4221.  
  4222. 977
  4223. 01:03:37,901 --> 01:03:41,280
  4224. He'll be reporting directly to you
  4225. as the new bank president, Mr. Steiner?
  4226.  
  4227. 978
  4228. 01:03:41,363 --> 01:03:42,364
  4229. That's right.
  4230.  
  4231. 979
  4232. 01:03:44,366 --> 01:03:47,327
  4233. Who are Bernard Garrett and Joseph Morris?
  4234.  
  4235. 980
  4236. 01:03:48,328 --> 01:03:49,955
  4237. My financial partners in Los Angeles.
  4238.  
  4239. 981
  4240. 01:04:09,099 --> 01:04:10,225
  4241. Why aren't they here?
  4242.  
  4243. 982
  4244. 01:04:10,601 --> 01:04:13,520
  4245. Honestly? Because they're
  4246. too rich to bother.
  4247.  
  4248. 983
  4249. 01:04:13,604 --> 01:04:15,022
  4250. That's why they have me.
  4251.  
  4252. 984
  4253. 01:04:15,105 --> 01:04:17,792
  4254. No offense, but they have hundreds
  4255. of these investments across the country.
  4256.  
  4257. 985
  4258. 01:04:17,816 --> 01:04:19,193
  4259. Well, that's great for them.
  4260.  
  4261. 986
  4262. 01:04:19,860 --> 01:04:22,070
  4263. But this is the investment
  4264. they're closing today.
  4265.  
  4266. 987
  4267. 01:04:40,797 --> 01:04:43,550
  4268. I should note that
  4269. the full purchase price for the bank
  4270.  
  4271. 988
  4272. 01:04:43,634 --> 01:04:46,803
  4273. is sitting in escrow in my bank
  4274. as of 11:00 a.m. this morning.
  4275.  
  4276. 989
  4277. 01:04:46,887 --> 01:04:48,764
  4278. Which is all that matters.
  4279.  
  4280. 990
  4281. 01:04:59,358 --> 01:05:03,779
  4282. Congratulations, you are now
  4283. the owner of your hometown bank.
  4284.  
  4285. 991
  4286. 01:05:04,988 --> 01:05:07,115
  4287. Time to get my black ass back to LA.
  4288.  
  4289. 992
  4290. 01:05:09,576 --> 01:05:10,661
  4291. Don't ask.
  4292.  
  4293. 993
  4294. 01:05:15,415 --> 01:05:18,126
  4295. My partners and I now own Mainland Bank.
  4296.  
  4297. 994
  4298. 01:05:18,710 --> 01:05:23,257
  4299. And we intend to change the bank's
  4300. policies regarding loans to Negroes.
  4301.  
  4302. 995
  4303. 01:05:24,383 --> 01:05:26,301
  4304. <i>But we need your help to identify</i>
  4305.  
  4306. 996
  4307. 01:05:26,385 --> 01:05:29,513
  4308. <i>responsible potential borrowers
  4309. in your congregations.</i>
  4310.  
  4311. 997
  4312. 01:05:30,138 --> 01:05:32,641
  4313. You get the loan...
  4314.  
  4315. 998
  4316. 01:05:32,724 --> 01:05:36,186
  4317. <i>Now, it goes without saying that we cannot
  4318. draw attention to this new policy</i>
  4319.  
  4320. 999
  4321. 01:05:36,270 --> 01:05:38,772
  4322. <i>or to our ownership of the bank.</i>
  4323.  
  4324. 1000
  4325. 01:05:40,274 --> 01:05:43,819
  4326. <i>Or everything we're trying to do
  4327. will be put in jeopardy.</i>
  4328.  
  4329. 1001
  4330. 01:05:45,362 --> 01:05:49,783
  4331. <i>But make no mistake,
  4332. our goal is to foster business growth</i>
  4333.  
  4334. 1002
  4335. 01:05:49,867 --> 01:05:54,413
  4336. {\an8}<i>and home ownership in our community
  4337. through access to capital.</i>
  4338.  
  4339. 1003
  4340. 01:05:55,163 --> 01:05:58,166
  4341. Thanks to your loan,
  4342. we bought two new pieces of equipment.
  4343.  
  4344. 1004
  4345. 01:05:58,250 --> 01:06:00,127
  4346. Doubled our revenue in three months.
  4347.  
  4348. 1005
  4349. 01:06:08,135 --> 01:06:11,013
  4350. You approved 14 new loans this week?
  4351.  
  4352. 1006
  4353. 01:06:11,930 --> 01:06:13,182
  4354. That sounds right.
  4355.  
  4356. 1007
  4357. 01:06:13,599 --> 01:06:15,100
  4358. Only five of those were mine.
  4359.  
  4360. 1008
  4361. 01:06:16,894 --> 01:06:19,229
  4362. There's a lot of underutilized capital
  4363. in this bank.
  4364.  
  4365. 1009
  4366. 01:06:19,730 --> 01:06:22,709
  4367. You knew I was gonna start signing off
  4368. on loans directly to jump-start things.
  4369.  
  4370. 1010
  4371. 01:06:22,733 --> 01:06:24,711
  4372. I haven't seen
  4373. that many viable applicants in one week
  4374.  
  4375. 1011
  4376. 01:06:24,735 --> 01:06:26,111
  4377. since I've worked at this bank.
  4378.  
  4379. 1012
  4380. 01:06:26,653 --> 01:06:28,822
  4381. I've been working here
  4382. since I was 18 years old.
  4383.  
  4384. 1013
  4385. 01:06:29,531 --> 01:06:31,241
  4386. Where are you finding all these people?
  4387.  
  4388. 1014
  4389. 01:06:32,034 --> 01:06:34,620
  4390. Who's "Solomon Johnson"?
  4391.  
  4392. 1015
  4393. 01:06:36,455 --> 01:06:37,748
  4394. We're casting a wide net.
  4395.  
  4396. 1016
  4397. 01:06:38,332 --> 01:06:40,459
  4398. The more loans we make,
  4399. the higher our profit.
  4400.  
  4401. 1017
  4402. 01:06:41,084 --> 01:06:42,252
  4403. Goes for your stake too.
  4404.  
  4405. 1018
  4406. 01:06:42,794 --> 01:06:44,129
  4407. As long as they don't default.
  4408.  
  4409. 1019
  4410. 01:06:45,547 --> 01:06:46,840
  4411. That's what collateral's for.
  4412.  
  4413. 1020
  4414. 01:07:23,210 --> 01:07:26,380
  4415. My partner Joe comes in town
  4416. every other week from LA.
  4417.  
  4418. 1021
  4419. 01:07:26,880 --> 01:07:28,066
  4420. He's looking forward to meeting you.
  4421.  
  4422. 1022
  4423. 01:07:28,090 --> 01:07:30,217
  4424. I told him this is
  4425. the best barbecue around here.
  4426.  
  4427. 1023
  4428. 01:07:30,300 --> 01:07:31,134
  4429. Thank you.
  4430.  
  4431. 1024
  4432. 01:07:31,218 --> 01:07:33,887
  4433. Look, the books I keep are pretty simple.
  4434.  
  4435. 1025
  4436. 01:07:34,429 --> 01:07:36,849
  4437. But I can go back to the office
  4438. and bring 'em out.
  4439.  
  4440. 1026
  4441. 01:07:36,932 --> 01:07:37,933
  4442. You can look 'em over.
  4443.  
  4444. 1027
  4445. 01:07:38,016 --> 01:07:39,726
  4446. - That would be great. Thank you.
  4447. - Okay.
  4448.  
  4449. 1028
  4450. 01:07:44,147 --> 01:07:45,232
  4451. You're late.
  4452.  
  4453. 1029
  4454. 01:07:46,316 --> 01:07:47,901
  4455. Florance discovered the black loans.
  4456.  
  4457. 1030
  4458. 01:07:49,152 --> 01:07:52,406
  4459. He's been wary of me from the beginning,
  4460. now he's watching me like a hawk.
  4461.  
  4462. 1031
  4463. 01:07:52,906 --> 01:07:53,907
  4464. Any reason why?
  4465.  
  4466. 1032
  4467. 01:07:53,991 --> 01:07:55,868
  4468. Well, yeah, he had dreams
  4469. of being the boss,
  4470.  
  4471. 1033
  4472. 01:07:55,951 --> 01:07:58,912
  4473. not reporting to some guy from California
  4474. ten years younger than him.
  4475.  
  4476. 1034
  4477. 01:08:38,785 --> 01:08:39,786
  4478. I hate it here.
  4479.  
  4480. 1035
  4481. 01:08:42,997 --> 01:08:45,626
  4482. Come on.
  4483. We've only been here three months.
  4484.  
  4485. 1036
  4486. 01:08:45,709 --> 01:08:46,835
  4487. It's enough time to know.
  4488.  
  4489. 1037
  4490. 01:08:49,505 --> 01:08:51,173
  4491. Why did you agree to do this?
  4492.  
  4493. 1038
  4494. 01:08:51,840 --> 01:08:53,634
  4495. I'm making 25,000 a year.
  4496.  
  4497. 1039
  4498. 01:08:53,716 --> 01:08:56,178
  4499. We bought this house
  4500. with one month's salary.
  4501.  
  4502. 1040
  4503. 01:08:56,261 --> 01:08:59,031
  4504. When you started with them you said
  4505. they were gonna make you a partner.
  4506.  
  4507. 1041
  4508. 01:08:59,055 --> 01:09:01,225
  4509. - Yeah, and...
  4510. - A partner isn't on a salary.
  4511.  
  4512. 1042
  4513. 01:09:01,308 --> 01:09:02,434
  4514. A partner is an owner.
  4515.  
  4516. 1043
  4517. 01:09:03,268 --> 01:09:05,520
  4518. Isn't that what you always told me
  4519. you wanted to be?
  4520.  
  4521. 1044
  4522. 01:09:05,604 --> 01:09:07,314
  4523. And I will be.
  4524.  
  4525. 1045
  4526. 01:09:08,814 --> 01:09:10,317
  4527. You know, on the next bank we buy.
  4528.  
  4529. 1046
  4530. 01:09:13,153 --> 01:09:14,446
  4531. You're buying another one?
  4532.  
  4533. 1047
  4534. 01:09:16,657 --> 01:09:18,033
  4535. We're thinking about it, yeah.
  4536.  
  4537. 1048
  4538. 01:09:22,120 --> 01:09:23,705
  4539. Now that would be something.
  4540.  
  4541. 1049
  4542. 01:09:24,915 --> 01:09:25,916
  4543. Wouldn't it?
  4544.  
  4545. 1050
  4546. 01:09:30,671 --> 01:09:33,298
  4547. So, we all agree
  4548. the barbecue place is a good bet, right?
  4549.  
  4550. 1051
  4551. 01:09:41,974 --> 01:09:43,809
  4552. You must be Bernard Garrett.
  4553.  
  4554. 1052
  4555. 01:09:45,519 --> 01:09:46,812
  4556. And you're Joe Morris?
  4557.  
  4558. 1053
  4559. 01:09:46,895 --> 01:09:48,020
  4560. What, you follow me here?
  4561.  
  4562. 1054
  4563. 01:09:48,104 --> 01:09:50,314
  4564. Just trying to understand
  4565. who really owns my bank.
  4566.  
  4567. 1055
  4568. 01:09:58,532 --> 01:09:59,908
  4569. You boys are famous.
  4570.  
  4571. 1056
  4572. 01:10:02,536 --> 01:10:05,330
  4573. That's you and Vice President Johnson,
  4574. if I'm not mistaken.
  4575.  
  4576. 1057
  4577. 01:10:10,085 --> 01:10:11,086
  4578. Listen,
  4579.  
  4580. 1058
  4581. 01:10:12,671 --> 01:10:14,673
  4582. I've got nothing against
  4583. you people personally.
  4584.  
  4585. 1059
  4586. 01:10:14,756 --> 01:10:16,425
  4587. That's mighty white of you.
  4588.  
  4589. 1060
  4590. 01:10:16,508 --> 01:10:18,552
  4591. But if this town found out
  4592.  
  4593. 1061
  4594. 01:10:18,635 --> 01:10:22,598
  4595. that not only was their bank
  4596. regularly making loans to Negroes,
  4597.  
  4598. 1062
  4599. 01:10:23,599 --> 01:10:25,267
  4600. but was actually owned by two of 'em,
  4601.  
  4602. 1063
  4603. 01:10:26,727 --> 01:10:28,061
  4604. there'd be a run on the bank.
  4605.  
  4606. 1064
  4607. 01:10:29,146 --> 01:10:30,606
  4608. Well, why would they find out?
  4609.  
  4610. 1065
  4611. 01:10:32,649 --> 01:10:34,276
  4612. They don't have access to our books.
  4613.  
  4614. 1066
  4615. 01:10:34,651 --> 01:10:35,485
  4616. You do.
  4617.  
  4618. 1067
  4619. 01:10:35,569 --> 01:10:37,362
  4620. Took you three months to figure it out.
  4621.  
  4622. 1068
  4623. 01:10:38,447 --> 01:10:40,324
  4624. - I could tell 'em.
  4625. - Yeah, you could.
  4626.  
  4627. 1069
  4628. 01:10:40,407 --> 01:10:43,285
  4629. Then you'd own 20% of a failed bank
  4630. instead of a booming one.
  4631.  
  4632. 1070
  4633. 01:10:45,537 --> 01:10:46,580
  4634. What do you want?
  4635.  
  4636. 1071
  4637. 01:10:48,248 --> 01:10:49,499
  4638. To protect my investment.
  4639.  
  4640. 1072
  4641. 01:10:50,334 --> 01:10:54,213
  4642. This bank collapses, my 20% is worthless.
  4643.  
  4644. 1073
  4645. 01:10:55,506 --> 01:10:57,132
  4646. So, we're in this together?
  4647.  
  4648. 1074
  4649. 01:10:57,841 --> 01:10:59,051
  4650. Not quite.
  4651.  
  4652. 1075
  4653. 01:10:59,134 --> 01:11:01,803
  4654. See, my father didn't know
  4655. he was selling his bank to two Negroes,
  4656.  
  4657. 1076
  4658. 01:11:01,887 --> 01:11:04,348
  4659. so that's fraud.
  4660.  
  4661. 1077
  4662. 01:11:04,848 --> 01:11:06,433
  4663. I don't know about that, Bob.
  4664.  
  4665. 1078
  4666. 01:11:07,059 --> 01:11:10,771
  4667. See, both our names
  4668. were on that bank contract you signed.
  4669.  
  4670. 1079
  4671. 01:11:10,854 --> 01:11:12,689
  4672. You even asked about us.
  4673.  
  4674. 1080
  4675. 01:11:13,398 --> 01:11:14,733
  4676. Don't know who told you that.
  4677.  
  4678. 1081
  4679. 01:11:14,816 --> 01:11:17,236
  4680. Didn't have to be told. I was there.
  4681.  
  4682. 1082
  4683. 01:11:17,778 --> 01:11:19,112
  4684. No, you weren't.
  4685.  
  4686. 1083
  4687. 01:11:21,156 --> 01:11:22,199
  4688. Bring back memories?
  4689.  
  4690. 1084
  4691. 01:11:24,993 --> 01:11:27,412
  4692. And for the record, your father knew.
  4693.  
  4694. 1085
  4695. 01:11:29,248 --> 01:11:30,249
  4696. You're lying.
  4697.  
  4698. 1086
  4699. 01:11:30,332 --> 01:11:34,127
  4700. Ask him, or I can find a letter
  4701. where he and Silverthorne discussed it.
  4702.  
  4703. 1087
  4704. 01:11:36,964 --> 01:11:38,590
  4705. You boys think you're so smart.
  4706.  
  4707. 1088
  4708. 01:11:38,674 --> 01:11:39,716
  4709. We are.
  4710.  
  4711. 1089
  4712. 01:11:40,259 --> 01:11:41,635
  4713. For a couple colored boys.
  4714.  
  4715. 1090
  4716. 01:11:43,720 --> 01:11:45,281
  4717. You couldn't just make a loan
  4718. here, there to your kind.
  4719.  
  4720. 1091
  4721. 01:11:45,305 --> 01:11:47,558
  4722. You had to make 19 of them
  4723. right off the bat?
  4724.  
  4725. 1092
  4726. 01:11:50,394 --> 01:11:51,854
  4727. Well, here's another letter.
  4728.  
  4729. 1093
  4730. 01:11:51,937 --> 01:11:55,357
  4731. This one's from the Comptroller of
  4732. the Currency. The US Treasury Department.
  4733.  
  4734. 1094
  4735. 01:11:55,440 --> 01:11:58,527
  4736. They're moving our yearly inspection up
  4737. two quarters.
  4738.  
  4739. 1095
  4740. 01:11:58,610 --> 01:11:59,945
  4741. That's a month from now.
  4742.  
  4743. 1096
  4744. 01:12:00,028 --> 01:12:02,823
  4745. Because of anonymous reports
  4746. we're making unsafe loans.
  4747.  
  4748. 1097
  4749. 01:12:04,324 --> 01:12:07,786
  4750. You think you have this town figured out,
  4751. when you moved here three months ago?
  4752.  
  4753. 1098
  4754. 01:12:08,996 --> 01:12:10,080
  4755. Well, you don't.
  4756.  
  4757. 1099
  4758. 01:12:10,497 --> 01:12:11,498
  4759. I was born here.
  4760.  
  4761. 1100
  4762. 01:12:11,582 --> 01:12:14,626
  4763. So was I. In this house.
  4764.  
  4765. 1101
  4766. 01:12:18,422 --> 01:12:19,548
  4767. Well,
  4768.  
  4769. 1102
  4770. 01:12:20,090 --> 01:12:22,968
  4771. then you should've known
  4772. you couldn't keep this a secret very long.
  4773.  
  4774. 1103
  4775. 01:12:45,157 --> 01:12:48,660
  4776. We're gonna have to stop giving out loans
  4777. to Negroes until after this inspection.
  4778.  
  4779. 1104
  4780. 01:12:48,744 --> 01:12:51,163
  4781. What about the ones already on the books?
  4782.  
  4783. 1105
  4784. 01:12:53,332 --> 01:12:54,833
  4785. Can I propose something?
  4786.  
  4787. 1106
  4788. 01:12:54,917 --> 01:12:56,460
  4789. Can I get a stiff drink?
  4790.  
  4791. 1107
  4792. 01:12:58,587 --> 01:13:00,088
  4793. We should buy another bank.
  4794.  
  4795. 1108
  4796. 01:13:00,172 --> 01:13:01,590
  4797. Make that a double.
  4798.  
  4799. 1109
  4800. 01:13:02,633 --> 01:13:03,967
  4801. What? No, I'm...
  4802.  
  4803. 1110
  4804. 01:13:04,051 --> 01:13:05,177
  4805. I'm serious.
  4806.  
  4807. 1111
  4808. 01:13:14,144 --> 01:13:15,938
  4809. Okay, the Bank of Marlin is small.
  4810.  
  4811. 1112
  4812. 01:13:16,021 --> 01:13:18,690
  4813. You can purchase it outright for 274,000,
  4814.  
  4815. 1113
  4816. 01:13:18,774 --> 01:13:21,318
  4817. half of what you paid for 80% of Mainland.
  4818.  
  4819. 1114
  4820. 01:13:21,401 --> 01:13:22,653
  4821. As president of both banks,
  4822.  
  4823. 1115
  4824. 01:13:22,736 --> 01:13:25,948
  4825. I could move all the Negro loans
  4826. we made at Mainland to the Bank of Marlin
  4827.  
  4828. 1116
  4829. 01:13:26,031 --> 01:13:27,658
  4830. before Mainland gets inspected.
  4831.  
  4832. 1117
  4833. 01:13:28,116 --> 01:13:30,369
  4834. It should keep the government
  4835. out of our business
  4836.  
  4837. 1118
  4838. 01:13:30,452 --> 01:13:32,454
  4839. and hopefully make Florance an ally.
  4840.  
  4841. 1119
  4842. 01:13:32,913 --> 01:13:34,122
  4843. It's an interesting idea,
  4844.  
  4845. 1120
  4846. 01:13:34,206 --> 01:13:38,418
  4847. but Joe and I don't have
  4848. $274,000 in cash laying around.
  4849.  
  4850. 1121
  4851. 01:13:39,127 --> 01:13:42,506
  4852. And I doubt Silverthorne will finance us
  4853. buying another bank in Texas.
  4854.  
  4855. 1122
  4856. 01:13:42,589 --> 01:13:45,300
  4857. Right, well, I think I have
  4858. a solution to that.
  4859.  
  4860. 1123
  4861. 01:13:46,343 --> 01:13:48,345
  4862. The Bank of Marlin has
  4863. two million in deposits,
  4864.  
  4865. 1124
  4866. 01:13:48,428 --> 01:13:50,180
  4867. but it's only made one million in loans.
  4868.  
  4869. 1125
  4870. 01:13:50,264 --> 01:13:51,932
  4871. Which is why it's not making a profit.
  4872.  
  4873. 1126
  4874. 01:13:52,015 --> 01:13:53,058
  4875. So, we buy the bank.
  4876.  
  4877. 1127
  4878. 01:13:53,141 --> 01:13:56,395
  4879. We use that extra million in deposits
  4880. to purchase loans from an aggregator.
  4881.  
  4882. 1128
  4883. 01:13:56,770 --> 01:14:01,650
  4884. I've already identified a package of loans
  4885. with an 8% interest offered at 6.5%.
  4886.  
  4887. 1129
  4888. 01:14:01,733 --> 01:14:04,945
  4889. That 1.5% spread
  4890. puts the bank instantly in profit.
  4891.  
  4892. 1130
  4893. 01:14:05,028 --> 01:14:06,613
  4894. Unless there's a high default rate.
  4895.  
  4896. 1131
  4897. 01:14:06,697 --> 01:14:08,282
  4898. Check the underlying loans yourself.
  4899.  
  4900. 1132
  4901. 01:14:08,365 --> 01:14:09,950
  4902. They seem rock-solid to me.
  4903.  
  4904. 1133
  4905. 01:14:10,033 --> 01:14:12,619
  4906. The whole package is for sale
  4907. for 971,000.
  4908.  
  4909. 1134
  4910. 01:14:12,703 --> 01:14:15,831
  4911. Yeah, that doesn't help
  4912. the cash flow problem for Joe and me.
  4913.  
  4914. 1135
  4915. 01:14:15,914 --> 01:14:19,793
  4916. All right, it doesn't,
  4917. but if you and Joe incorporate as brokers,
  4918.  
  4919. 1136
  4920. 01:14:19,877 --> 01:14:21,753
  4921. the Bank of Marlin
  4922. can pay you a commission
  4923.  
  4924. 1137
  4925. 01:14:21,837 --> 01:14:24,464
  4926. of close to 200,000
  4927. on that package of mortgages.
  4928.  
  4929. 1138
  4930. 01:14:24,548 --> 01:14:28,302
  4931. That's an awful lot of commission
  4932. on a million-dollar package of mortgages.
  4933.  
  4934. 1139
  4935. 01:14:28,385 --> 01:14:30,470
  4936. Maybe, but it's completely legal.
  4937.  
  4938. 1140
  4939. 01:14:30,554 --> 01:14:32,139
  4940. It cuts your investment by two-thirds.
  4941.  
  4942. 1141
  4943. 01:14:32,222 --> 01:14:35,142
  4944. The bank stays profitable
  4945. and we keep loaning to Negroes.
  4946.  
  4947. 1142
  4948. 01:14:35,225 --> 01:14:36,226
  4949. Everyone wins.
  4950.  
  4951. 1143
  4952. 01:14:36,310 --> 01:14:37,769
  4953. It sounds too good to be true.
  4954.  
  4955. 1144
  4956. 01:14:38,228 --> 01:14:39,980
  4957. Well, then have your lawyers check.
  4958.  
  4959. 1145
  4960. 01:14:41,064 --> 01:14:43,817
  4961. Look, Matt, even if it does check out,
  4962.  
  4963. 1146
  4964. 01:14:44,610 --> 01:14:47,988
  4965. Joe has to spend his time in LA
  4966. overseeing our properties there.
  4967.  
  4968. 1147
  4969. 01:14:48,488 --> 01:14:50,908
  4970. And I'm here
  4971. overseeing you and Mainland Bank,
  4972.  
  4973. 1148
  4974. 01:14:50,991 --> 01:14:53,285
  4975. which I can't even get in
  4976. the front door of.
  4977.  
  4978. 1149
  4979. 01:14:54,661 --> 01:14:58,373
  4980. I just don't think it's the right time
  4981. for us to pick up a second bank in Texas.
  4982.  
  4983. 1150
  4984. 01:14:58,457 --> 01:15:00,959
  4985. Well, you won't have to,
  4986. if you let me run this one.
  4987.  
  4988. 1151
  4989. 01:15:01,793 --> 01:15:02,793
  4990. I mean really run it.
  4991.  
  4992. 1152
  4993. 01:15:05,589 --> 01:15:06,589
  4994. Matt,
  4995.  
  4996. 1153
  4997. 01:15:07,674 --> 01:15:10,427
  4998. I can't speak for Joe,
  4999. but I'm not comfortable with that.
  5000.  
  5001. 1154
  5002. 01:15:11,512 --> 01:15:13,805
  5003. I'm sorry to interrupt.
  5004.  
  5005. 1155
  5006. 01:15:13,889 --> 01:15:14,973
  5007. Would you like one?
  5008.  
  5009. 1156
  5010. 01:15:15,057 --> 01:15:16,141
  5011. - No.
  5012. - Okay.
  5013.  
  5014. 1157
  5015. 01:15:26,235 --> 01:15:28,946
  5016. Look, we agreed I'd co-own the next bank.
  5017.  
  5018. 1158
  5019. 01:15:29,029 --> 01:15:30,405
  5020. We even put it in the contract.
  5021.  
  5022. 1159
  5023. 01:15:30,822 --> 01:15:33,301
  5024. Three months ago, you didn't know
  5025. the first thing about banking.
  5026.  
  5027. 1160
  5028. 01:15:33,325 --> 01:15:34,844
  5029. Come on. I've learnt a lot in that time.
  5030.  
  5031. 1161
  5032. 01:15:34,868 --> 01:15:37,162
  5033. It's not that I don't have faith in you,
  5034. it's just...
  5035.  
  5036. 1162
  5037. 01:15:38,205 --> 01:15:39,206
  5038. What?
  5039.  
  5040. 1163
  5041. 01:15:40,165 --> 01:15:44,628
  5042. It's $274,000 of Joe's and my money.
  5043.  
  5044. 1164
  5045. 01:15:45,379 --> 01:15:47,631
  5046. We should at least
  5047. have the final say, right?
  5048.  
  5049. 1165
  5050. 01:15:51,927 --> 01:15:53,303
  5051. If I can't become my own man here,
  5052.  
  5053. 1166
  5054. 01:15:53,387 --> 01:15:55,514
  5055. then I think I need to resign
  5056. and go back to LA.
  5057.  
  5058. 1167
  5059. 01:15:58,183 --> 01:16:00,727
  5060. - Is this you blackmailing us?
  5061. - No.
  5062.  
  5063. 1168
  5064. 01:16:01,436 --> 01:16:02,563
  5065. No, that's not fair, Joe.
  5066.  
  5067. 1169
  5068. 01:16:02,646 --> 01:16:04,147
  5069. You guys have taught me so much.
  5070.  
  5071. 1170
  5072. 01:16:04,231 --> 01:16:05,649
  5073. I just wanna be more like you.
  5074.  
  5075. 1171
  5076. 01:16:06,066 --> 01:16:07,067
  5077. An owner.
  5078.  
  5079. 1172
  5080. 01:16:08,360 --> 01:16:09,778
  5081. Whatever you decide...
  5082.  
  5083. 1173
  5084. 01:16:11,196 --> 01:16:13,782
  5085. I really appreciate
  5086. everything you guys have done for me.
  5087.  
  5088. 1174
  5089. 01:16:17,786 --> 01:16:20,038
  5090. You said this was gonna be complicated.
  5091.  
  5092. 1175
  5093. 01:16:20,122 --> 01:16:24,209
  5094. What I said was, "This is a bad idea."
  5095.  
  5096. 1176
  5097. 01:16:25,502 --> 01:16:29,006
  5098. Then I agreed to drive off the cliff
  5099. with you and here we are.
  5100.  
  5101. 1177
  5102. 01:16:29,965 --> 01:16:34,803
  5103. Now, we gotta buy a kid with 90 days of
  5104. banking experience his own goddamn bank.
  5105.  
  5106. 1178
  5107. 01:16:36,597 --> 01:16:37,681
  5108. Without a chaperone.
  5109.  
  5110. 1179
  5111. 01:16:45,731 --> 01:16:49,526
  5112. Hey, everyone, I just wanted to say
  5113. I'm excited to work with all of you.
  5114.  
  5115. 1180
  5116. 01:16:49,610 --> 01:16:51,653
  5117. We're gonna do great things
  5118. with this bank.
  5119.  
  5120. 1181
  5121. 01:16:51,737 --> 01:16:55,282
  5122. Growing it while helping the community
  5123. around it grow at the same time.
  5124.  
  5125. 1182
  5126. 01:16:56,700 --> 01:16:57,868
  5127. My door is always open.
  5128.  
  5129. 1183
  5130. 01:16:58,619 --> 01:17:00,412
  5131. Let's show the public our new face.
  5132.  
  5133. 1184
  5134. 01:17:12,341 --> 01:17:15,010
  5135. Twelfth loan in the package,
  5136. it's that one right there.
  5137.  
  5138. 1185
  5139. 01:17:16,011 --> 01:17:18,263
  5140. Another beautiful house
  5141. in a white neighborhood.
  5142.  
  5143. 1186
  5144. 01:17:18,347 --> 01:17:19,515
  5145. Give it a five.
  5146.  
  5147. 1187
  5148. 01:17:22,434 --> 01:17:23,644
  5149. Thank you for doing this.
  5150.  
  5151. 1188
  5152. 01:17:25,604 --> 01:17:27,064
  5153. How else am I supposed to learn?
  5154.  
  5155. 1189
  5156. 01:17:37,241 --> 01:17:38,242
  5157. You can stop.
  5158.  
  5159. 1190
  5160. 01:17:38,325 --> 01:17:40,536
  5161. There's no one here
  5162. to see you cleaning anymore.
  5163.  
  5164. 1191
  5165. 01:17:40,619 --> 01:17:43,038
  5166. Whatever I do, I try to do my best.
  5167.  
  5168. 1192
  5169. 01:17:46,959 --> 01:17:48,418
  5170. I'm sorry you have to wear that.
  5171.  
  5172. 1193
  5173. 01:17:49,753 --> 01:17:52,339
  5174. I wish they'd just trust me,
  5175. then you wouldn't have to.
  5176.  
  5177. 1194
  5178. 01:17:53,173 --> 01:17:54,716
  5179. Do you resent me being here?
  5180.  
  5181. 1195
  5182. 01:17:57,511 --> 01:17:58,512
  5183. A little.
  5184.  
  5185. 1196
  5186. 01:18:02,099 --> 01:18:04,309
  5187. Do you resent me
  5188. for wanting to run my own bank?
  5189.  
  5190. 1197
  5191. 01:18:07,145 --> 01:18:08,146
  5192. A little.
  5193.  
  5194. 1198
  5195. 01:18:09,064 --> 01:18:10,107
  5196. Really?
  5197.  
  5198. 1199
  5199. 01:18:12,359 --> 01:18:14,403
  5200. Come on. You know
  5201. I wasn't born into money.
  5202.  
  5203. 1200
  5204. 01:18:15,070 --> 01:18:16,989
  5205. I just learnt to fake it.
  5206. And you helped me.
  5207.  
  5208. 1201
  5209. 01:18:20,325 --> 01:18:21,368
  5210. I do realize...
  5211.  
  5212. 1202
  5213. 01:18:22,327 --> 01:18:23,954
  5214. I had to be white for that to work.
  5215.  
  5216. 1203
  5217. 01:18:25,414 --> 01:18:26,456
  5218. And a man.
  5219.  
  5220. 1204
  5221. 01:18:29,501 --> 01:18:30,502
  5222. I just...
  5223.  
  5224. 1205
  5225. 01:18:32,212 --> 01:18:34,840
  5226. I wanna be respected
  5227. for what I've done for the business.
  5228.  
  5229. 1206
  5230. 01:18:37,176 --> 01:18:38,886
  5231. Respect is a big thing.
  5232.  
  5233. 1207
  5234. 01:18:39,553 --> 01:18:42,639
  5235. Sometimes people take big risks
  5236. to chase it.
  5237.  
  5238. 1208
  5239. 01:18:43,891 --> 01:18:46,143
  5240. I want this bank to succeed
  5241. just as much as you do.
  5242.  
  5243. 1209
  5244. 01:18:46,226 --> 01:18:47,603
  5245. I want you to succeed.
  5246.  
  5247. 1210
  5248. 01:18:48,604 --> 01:18:50,814
  5249. And I hope you don't take this
  5250. the wrong way,
  5251.  
  5252. 1211
  5253. 01:18:51,815 --> 01:18:54,484
  5254. but you just took up banking
  5255. three months ago.
  5256.  
  5257. 1212
  5258. 01:18:57,237 --> 01:18:58,238
  5259. So did Bernard.
  5260.  
  5261. 1213
  5262. 01:19:08,957 --> 01:19:09,958
  5263. They're all solid.
  5264.  
  5265. 1214
  5266. 01:19:10,042 --> 01:19:12,461
  5267. We looked at the property
  5268. securing every single loan.
  5269.  
  5270. 1215
  5271. 01:19:12,961 --> 01:19:14,087
  5272. That was fast.
  5273.  
  5274. 1216
  5275. 01:19:14,171 --> 01:19:18,050
  5276. Just be sure the documentation matches
  5277. exactly before handing over any money.
  5278.  
  5279. 1217
  5280. 01:19:18,133 --> 01:19:18,967
  5281. Yeah, of course.
  5282.  
  5283. 1218
  5284. 01:19:19,051 --> 01:19:21,303
  5285. And contact that lawyer I told you about
  5286. in Houston.
  5287.  
  5288. 1219
  5289. 01:19:21,386 --> 01:19:24,306
  5290. I worked with him before.
  5291. O'Keefe. Michael O'Keefe. I trust him.
  5292.  
  5293. 1220
  5294. 01:19:24,389 --> 01:19:25,909
  5295. I already did. He said he'll be there.
  5296.  
  5297. 1221
  5298. 01:19:25,933 --> 01:19:26,934
  5299. Perfect.
  5300.  
  5301. 1222
  5302. 01:19:27,476 --> 01:19:28,477
  5303. Excuse me.
  5304.  
  5305. 1223
  5306. 01:19:29,353 --> 01:19:30,771
  5307. Man, this place is so good.
  5308.  
  5309. 1224
  5310. 01:19:31,855 --> 01:19:33,857
  5311. So, I'm gonna head back in the morning.
  5312.  
  5313. 1225
  5314. 01:19:35,859 --> 01:19:37,236
  5315. It's okay.
  5316.  
  5317. 1226
  5318. 01:19:38,070 --> 01:19:39,905
  5319. I'll have it fixed in no time.
  5320.  
  5321. 1227
  5322. 01:19:47,371 --> 01:19:48,539
  5323. Okay.
  5324.  
  5325. 1228
  5326. 01:19:56,505 --> 01:19:58,841
  5327. <i>I thought his statement
  5328. was rather cautiously worded.</i>
  5329.  
  5330. 1229
  5331. 01:19:58,924 --> 01:20:01,802
  5332. <i>I didn't get any assurances
  5333. that Mr. Khrushchev or the Soviet Union</i>
  5334.  
  5335. 1230
  5336. 01:20:01,885 --> 01:20:04,054
  5337. <i>was out of the space race at all.</i>
  5338.  
  5339. 1231
  5340. 01:20:04,137 --> 01:20:04,972
  5341. <i>I think it's...</i>
  5342.  
  5343. 1232
  5344. 01:20:05,055 --> 01:20:08,684
  5345. Mr. Steiner, your attorney's almost
  5346. finished reviewing the packet of loans.
  5347.  
  5348. 1233
  5349. 01:20:08,767 --> 01:20:09,810
  5350. Great.
  5351.  
  5352. 1234
  5353. 01:20:16,441 --> 01:20:18,277
  5354. - Let me know if you need anything.
  5355. - Thanks.
  5356.  
  5357. 1235
  5358. 01:20:18,819 --> 01:20:21,405
  5359. Thank you again for doing this so quickly.
  5360.  
  5361. 1236
  5362. 01:20:21,822 --> 01:20:23,448
  5363. How are the underlying loans looking?
  5364.  
  5365. 1237
  5366. 01:20:23,532 --> 01:20:25,993
  5367. Solid. You can start
  5368. signing the contracts now.
  5369.  
  5370. 1238
  5371. 01:20:26,076 --> 01:20:27,077
  5372. Great.
  5373.  
  5374. 1239
  5375. 01:20:50,184 --> 01:20:51,351
  5376. - Hi.
  5377. - Hey.
  5378.  
  5379. 1240
  5380. 01:20:54,354 --> 01:20:55,606
  5381. Hi. How are you?
  5382.  
  5383. 1241
  5384. 01:20:55,689 --> 01:20:56,732
  5385. Good, how are you?
  5386.  
  5387. 1242
  5388. 01:20:56,815 --> 01:20:58,066
  5389. Good.
  5390.  
  5391. 1243
  5392. 01:20:58,150 --> 01:20:59,193
  5393. How'd it go?
  5394.  
  5395. 1244
  5396. 01:21:00,277 --> 01:21:03,238
  5397. Well, I just wrote a check for $971,000.
  5398.  
  5399. 1245
  5400. 01:21:03,947 --> 01:21:04,948
  5401. Never done that before.
  5402.  
  5403. 1246
  5404. 01:21:05,490 --> 01:21:07,034
  5405. You're a natural businessman.
  5406.  
  5407. 1247
  5408. 01:21:07,910 --> 01:21:09,328
  5409. I don't know. I mean...
  5410.  
  5411. 1248
  5412. 01:21:09,870 --> 01:21:12,515
  5413. tell that to the people who invested
  5414. in the drive-in ice cream shop.
  5415.  
  5416. 1249
  5417. 01:21:12,539 --> 01:21:13,665
  5418. You were 19.
  5419.  
  5420. 1250
  5421. 01:21:14,082 --> 01:21:16,502
  5422. Yeah. But, I dunno,
  5423. it was my dad's savings.
  5424.  
  5425. 1251
  5426. 01:21:16,585 --> 01:21:19,296
  5427. I just don't want to lose
  5428. Bernard and Joe's money the same way.
  5429.  
  5430. 1252
  5431. 01:21:19,379 --> 01:21:20,631
  5432. They're lucky to have you.
  5433.  
  5434. 1253
  5435. 01:21:20,714 --> 01:21:24,051
  5436. No. I'm the lucky one. I'm learning
  5437. from people a lot smarter than I am.
  5438.  
  5439. 1254
  5440. 01:21:25,135 --> 01:21:26,220
  5441. Matt,
  5442.  
  5443. 1255
  5444. 01:21:26,303 --> 01:21:27,763
  5445. they're not smarter than you.
  5446.  
  5447. 1256
  5448. 01:21:28,222 --> 01:21:30,015
  5449. I mean, they can't be.
  5450.  
  5451. 1257
  5452. 01:21:31,517 --> 01:21:32,643
  5453. They're my friends.
  5454.  
  5455. 1258
  5456. 01:21:33,435 --> 01:21:35,896
  5457. Hey. Look, I'm sorry. I didn't...
  5458.  
  5459. 1259
  5460. 01:21:35,979 --> 01:21:37,523
  5461. - No.
  5462. - Just... Matt.
  5463.  
  5464. 1260
  5465. 01:21:38,232 --> 01:21:39,316
  5466. Don't talk like that.
  5467.  
  5468. 1261
  5469. 01:21:40,901 --> 01:21:41,944
  5470. Hello?
  5471.  
  5472. 1262
  5473. 01:21:42,694 --> 01:21:43,694
  5474. It's Florance.
  5475.  
  5476. 1263
  5477. 01:21:45,197 --> 01:21:46,698
  5478. I've got four white customers here
  5479.  
  5480. 1264
  5481. 01:21:46,782 --> 01:21:49,201
  5482. saying they wanna withdraw all their money
  5483. from the bank
  5484.  
  5485. 1265
  5486. 01:21:49,284 --> 01:21:50,577
  5487. because they think it's owned
  5488.  
  5489. 1266
  5490. 01:21:50,661 --> 01:21:53,705
  5491. by the National Association
  5492. for the Advancement of Colored People.
  5493.  
  5494. 1267
  5495. 01:22:06,760 --> 01:22:08,470
  5496. This was on the door at Mainland.
  5497.  
  5498. 1268
  5499. 01:22:10,347 --> 01:22:11,348
  5500. Subtle.
  5501.  
  5502. 1269
  5503. 01:22:12,391 --> 01:22:16,103
  5504. Five white customers withdrew
  5505. all their money in the past two days.
  5506.  
  5507. 1270
  5508. 01:22:16,478 --> 01:22:18,897
  5509. Nine were convinced by Florance to stay.
  5510.  
  5511. 1271
  5512. 01:22:19,523 --> 01:22:20,524
  5513. Fitting.
  5514.  
  5515. 1272
  5516. 01:22:20,607 --> 01:22:25,237
  5517. Considering Florance probably the one
  5518. who started and spread the rumors himself.
  5519.  
  5520. 1273
  5521. 01:22:25,320 --> 01:22:27,239
  5522. What? Why would you say that?
  5523.  
  5524. 1274
  5525. 01:22:28,657 --> 01:22:30,617
  5526. Told you long time ago, Bernard.
  5527.  
  5528. 1275
  5529. 01:22:30,701 --> 01:22:31,702
  5530. I don't trust people.
  5531.  
  5532. 1276
  5533. 01:22:32,619 --> 01:22:34,580
  5534. Especially white people. I remember.
  5535.  
  5536. 1277
  5537. 01:22:34,663 --> 01:22:38,667
  5538. No, what I said was white and black.
  5539.  
  5540. 1278
  5541. 01:22:38,750 --> 01:22:42,004
  5542. The difference is,
  5543. when a white person screws you over,
  5544.  
  5545. 1279
  5546. 01:22:42,087 --> 01:22:45,299
  5547. they can count on other white folks
  5548. out there to look the other way.
  5549.  
  5550. 1280
  5551. 01:22:45,382 --> 01:22:48,760
  5552. And just knowing that
  5553. brings out the worst in people.
  5554.  
  5555. 1281
  5556. 01:22:49,970 --> 01:22:53,348
  5557. How can you be so pessimistic
  5558. and still get out the bed in the morning?
  5559.  
  5560. 1282
  5561. 01:22:54,433 --> 01:22:56,894
  5562. Even a rigged game's fun to play, Bernard.
  5563.  
  5564. 1283
  5565. 01:23:06,695 --> 01:23:07,696
  5566. Matt Steiner?
  5567.  
  5568. 1284
  5569. 01:23:08,530 --> 01:23:09,698
  5570. Yes.
  5571.  
  5572. 1285
  5573. 01:23:09,781 --> 01:23:12,743
  5574. I'm an examiner with the office
  5575. of the Comptroller of the Currency.
  5576.  
  5577. 1286
  5578. 01:23:14,620 --> 01:23:15,704
  5579. How can I help you?
  5580.  
  5581. 1287
  5582. 01:23:24,421 --> 01:23:25,422
  5583. Hello?
  5584.  
  5585. 1288
  5586. 01:23:25,506 --> 01:23:27,841
  5587. A federal bank examiner
  5588. just left my office.
  5589.  
  5590. 1289
  5591. 01:23:27,925 --> 01:23:29,635
  5592. <i>I thought that wasn't until next month.</i>
  5593.  
  5594. 1290
  5595. 01:23:29,718 --> 01:23:31,470
  5596. No, I meant Marlin, not Mainland.
  5597.  
  5598. 1291
  5599. 01:23:33,764 --> 01:23:34,890
  5600. What did he say?
  5601.  
  5602. 1292
  5603. 01:23:35,766 --> 01:23:38,227
  5604. To get the master books out.
  5605. He's coming back in an hour.
  5606.  
  5607. 1293
  5608. 01:23:39,811 --> 01:23:40,812
  5609. Shit.
  5610.  
  5611. 1294
  5612. 01:23:42,898 --> 01:23:43,941
  5613. This can't be chance.
  5614.  
  5615. 1295
  5616. 01:23:44,024 --> 01:23:45,192
  5617. Matt's not ready.
  5618.  
  5619. 1296
  5620. 01:23:45,275 --> 01:23:46,276
  5621. Well, how could he be?
  5622.  
  5623. 1297
  5624. 01:23:46,360 --> 01:23:47,778
  5625. And he's gonna get tripped up.
  5626.  
  5627. 1298
  5628. 01:23:47,861 --> 01:23:49,154
  5629. We can't let that happen.
  5630.  
  5631. 1299
  5632. 01:23:49,238 --> 01:23:53,075
  5633. I'd have to be sitting in the room next to
  5634. him the whole time for it not to happen.
  5635.  
  5636. 1300
  5637. 01:23:53,158 --> 01:23:55,244
  5638. And I can't exactly do that, now can I?
  5639.  
  5640. 1301
  5641. 01:23:55,327 --> 01:23:57,246
  5642. Well, you could do something close to it.
  5643.  
  5644. 1302
  5645. 01:23:59,498 --> 01:24:01,083
  5646. There's gotta be another way.
  5647.  
  5648. 1303
  5649. 01:24:03,961 --> 01:24:06,672
  5650. Well, Joe's not too proud
  5651. to put on a chauffeur's uniform.
  5652.  
  5653. 1304
  5654. 01:24:06,755 --> 01:24:09,424
  5655. Well, Joe was born
  5656. with a silver spoon in his mouth.
  5657.  
  5658. 1305
  5659. 01:24:09,508 --> 01:24:11,051
  5660. For him it's like playing dress-up.
  5661.  
  5662. 1306
  5663. 01:24:11,134 --> 01:24:13,804
  5664. Well, I wasn't.
  5665. I was barely born with a spoon.
  5666.  
  5667. 1307
  5668. 01:24:13,887 --> 01:24:16,557
  5669. How many times have I worn this uniform
  5670. to help this business?
  5671.  
  5672. 1308
  5673. 01:24:16,640 --> 01:24:17,641
  5674. You're...
  5675.  
  5676. 1309
  5677. 01:24:18,183 --> 01:24:19,685
  5678. - A woman?
  5679. - Yeah.
  5680.  
  5681. 1310
  5682. 01:24:21,895 --> 01:24:22,771
  5683. I love you, Bernard.
  5684.  
  5685. 1311
  5686. 01:24:22,855 --> 01:24:24,791
  5687. But how is that any different
  5688. from a white man telling you
  5689.  
  5690. 1312
  5691. 01:24:24,815 --> 01:24:26,900
  5692. you shouldn't mind
  5693. some daily assault on your dignity
  5694.  
  5695. 1313
  5696. 01:24:26,984 --> 01:24:27,985
  5697. because you're black?
  5698.  
  5699. 1314
  5700. 01:25:28,128 --> 01:25:30,506
  5701. Should've took limo driver
  5702. when you had the chance.
  5703.  
  5704. 1315
  5705. 01:25:31,757 --> 01:25:34,510
  5706. I don't like what hats do
  5707. to the shape of my face.
  5708.  
  5709. 1316
  5710. 01:25:35,219 --> 01:25:36,845
  5711. You made an actual joke.
  5712.  
  5713. 1317
  5714. 01:25:36,929 --> 01:25:38,931
  5715. Well, what else can I do
  5716. in this situation?
  5717.  
  5718. 1318
  5719. 01:25:40,724 --> 01:25:43,185
  5720. See, you find out how life really works,
  5721.  
  5722. 1319
  5723. 01:25:44,269 --> 01:25:45,646
  5724. can't do nothing but laugh.
  5725.  
  5726. 1320
  5727. 01:25:49,566 --> 01:25:51,944
  5728. You sure you don't want
  5729. a coffee or anything?
  5730.  
  5731. 1321
  5732. 01:25:52,027 --> 01:25:53,028
  5733. No, thank you.
  5734.  
  5735. 1322
  5736. 01:25:53,111 --> 01:25:54,655
  5737. A cold water maybe?
  5738.  
  5739. 1323
  5740. 01:25:54,738 --> 01:25:56,615
  5741. As of close of business Friday,
  5742.  
  5743. 1324
  5744. 01:25:56,698 --> 01:26:00,285
  5745. the total number of loans delinquent
  5746. beyond 60 days was under 5%?
  5747.  
  5748. 1325
  5749. 01:26:01,703 --> 01:26:02,704
  5750. Yes.
  5751.  
  5752. 1326
  5753. 01:26:02,788 --> 01:26:04,206
  5754. What was the exact percentage?
  5755.  
  5756. 1327
  5757. 01:26:07,125 --> 01:26:08,418
  5758. 3%.
  5759.  
  5760. 1328
  5761. 01:26:17,886 --> 01:26:21,473
  5762. We are discussing
  5763. confidential information.
  5764.  
  5765. 1329
  5766. 01:26:21,932 --> 01:26:23,851
  5767. I'm sure the janitor
  5768. wouldn't understand it.
  5769.  
  5770. 1330
  5771. 01:26:23,934 --> 01:26:25,102
  5772. Someone else might.
  5773.  
  5774. 1331
  5775. 01:26:29,481 --> 01:26:31,066
  5776. Take me through this transaction.
  5777.  
  5778. 1332
  5779. 01:26:31,775 --> 01:26:35,362
  5780. That's a package of loans we bought
  5781. to increase our loan-to-capital ratio.
  5782.  
  5783. 1333
  5784. 01:26:37,865 --> 01:26:38,866
  5785. He's in trouble.
  5786.  
  5787. 1334
  5788. 01:26:41,702 --> 01:26:43,537
  5789. I can read the description myself.
  5790.  
  5791. 1335
  5792. 01:26:43,620 --> 01:26:45,914
  5793. I'm curious about this related charge.
  5794.  
  5795. 1336
  5796. 01:26:45,998 --> 01:26:52,129
  5797. $189,186.04
  5798. to Valley National Mortgage Company.
  5799.  
  5800. 1337
  5801. 01:26:52,713 --> 01:26:54,381
  5802. There's no description for that.
  5803.  
  5804. 1338
  5805. 01:26:54,882 --> 01:26:56,175
  5806. It's a broker's fee.
  5807.  
  5808. 1339
  5809. 01:26:58,010 --> 01:27:04,433
  5810. $189,000 as a finder's fee
  5811. for a $971,000 package of loans
  5812.  
  5813. 1340
  5814. 01:27:05,017 --> 01:27:06,935
  5815. sitting in an aggregator's office
  5816. in Houston?
  5817.  
  5818. 1341
  5819. 01:27:07,603 --> 01:27:09,146
  5820. That's a pretty hefty finder's fee.
  5821.  
  5822. 1342
  5823. 01:27:09,771 --> 01:27:14,234
  5824. No, 19.5%, but that includes payment
  5825. for future consultation.
  5826.  
  5827. 1343
  5828. 01:27:14,776 --> 01:27:16,612
  5829. Well, that's a strange arrangement.
  5830.  
  5831. 1344
  5832. 01:27:16,695 --> 01:27:18,113
  5833. Mr. Garrett and Mr. Morris?
  5834.  
  5835. 1345
  5836. 01:27:18,197 --> 01:27:20,449
  5837. Is that something that should concern you?
  5838.  
  5839. 1346
  5840. 01:27:20,532 --> 01:27:22,618
  5841. Aren't you here
  5842. to make sure my bank is sound?
  5843.  
  5844. 1347
  5845. 01:27:23,869 --> 01:27:25,913
  5846. Okay, let's turn to the loans themselves.
  5847.  
  5848. 1348
  5849. 01:27:26,997 --> 01:27:30,834
  5850. You paid $971,213 for these loans.
  5851.  
  5852. 1349
  5853. 01:27:30,918 --> 01:27:33,128
  5854. You have them valued as such
  5855. on your books.
  5856.  
  5857. 1350
  5858. 01:27:33,212 --> 01:27:34,546
  5859. Yes, of course.
  5860.  
  5861. 1351
  5862. 01:27:34,630 --> 01:27:37,966
  5863. Show me the methodology you used
  5864. to justify that book value.
  5865.  
  5866. 1352
  5867. 01:27:39,635 --> 01:27:41,011
  5868. I have an expert to do that.
  5869.  
  5870. 1353
  5871. 01:27:41,094 --> 01:27:42,179
  5872. Bring him in, please.
  5873.  
  5874. 1354
  5875. 01:27:44,389 --> 01:27:45,432
  5876. He's not in today.
  5877.  
  5878. 1355
  5879. 01:27:50,479 --> 01:27:53,273
  5880. But I can check his files.
  5881.  
  5882. 1356
  5883. 01:27:53,774 --> 01:27:54,900
  5884. Please.
  5885.  
  5886. 1357
  5887. 01:28:08,872 --> 01:28:12,668
  5888. He wants to know the exact methodology
  5889. we used to value the loans in the package.
  5890.  
  5891. 1358
  5892. 01:28:12,751 --> 01:28:13,752
  5893. Okay.
  5894.  
  5895. 1359
  5896. 01:28:14,545 --> 01:28:15,546
  5897. Pay attention.
  5898.  
  5899. 1360
  5900. 01:28:16,588 --> 01:28:18,549
  5901. It's a standard present value equation.
  5902.  
  5903. 1361
  5904. 01:28:19,550 --> 01:28:22,636
  5905. This is an individual loan's
  5906. monthly payment schedule.
  5907.  
  5908. 1362
  5909. 01:28:22,719 --> 01:28:25,347
  5910. Now, adjust that
  5911. with the risk factor for default.
  5912.  
  5913. 1363
  5914. 01:28:25,430 --> 01:28:27,516
  5915. Standard 5% in Texas.
  5916.  
  5917. 1364
  5918. 01:28:27,975 --> 01:28:28,976
  5919. That's what I used.
  5920.  
  5921. 1365
  5922. 01:28:30,018 --> 01:28:31,144
  5923. Tear that out for me.
  5924.  
  5925. 1366
  5926. 01:28:31,228 --> 01:28:33,122
  5927. You can't go in the room
  5928. with that piece of paper.
  5929.  
  5930. 1367
  5931. 01:28:33,146 --> 01:28:34,773
  5932. It's got Bernard's handwriting on it.
  5933.  
  5934. 1368
  5935. 01:28:34,857 --> 01:28:35,875
  5936. - Memorize it.
  5937. - No, I can't.
  5938.  
  5939. 1369
  5940. 01:28:35,899 --> 01:28:38,110
  5941. Sure you can. You got a great memory.
  5942.  
  5943. 1370
  5944. 01:28:38,193 --> 01:28:39,069
  5945. No, I'm too nervous.
  5946.  
  5947. 1371
  5948. 01:28:39,152 --> 01:28:40,279
  5949. Hey, listen.
  5950.  
  5951. 1372
  5952. 01:28:40,362 --> 01:28:43,282
  5953. You fail this test
  5954. and he's gonna write down those loans
  5955.  
  5956. 1373
  5957. 01:28:43,365 --> 01:28:45,125
  5958. and it'll threaten
  5959. the stability of the bank.
  5960.  
  5961. 1374
  5962. 01:28:45,158 --> 01:28:46,158
  5963. Your bank.
  5964.  
  5965. 1375
  5966. 01:28:46,618 --> 01:28:47,703
  5967. This is your bank, Matt.
  5968.  
  5969. 1376
  5970. 01:28:47,786 --> 01:28:50,205
  5971. Now, pull it together
  5972. and go out there and save it.
  5973.  
  5974. 1377
  5975. 01:28:52,082 --> 01:28:53,709
  5976. Okay, let me see that one more time.
  5977.  
  5978. 1378
  5979. 01:28:59,256 --> 01:29:02,426
  5980. Okay, I have the methodology.
  5981.  
  5982. 1379
  5983. 01:29:02,509 --> 01:29:03,594
  5984. Put a pin in that.
  5985.  
  5986. 1380
  5987. 01:29:03,677 --> 01:29:06,305
  5988. I found problems with individual loans
  5989. while you were gone.
  5990.  
  5991. 1381
  5992. 01:29:06,972 --> 01:29:09,099
  5993. I valued those loans conservatively.
  5994.  
  5995. 1382
  5996. 01:29:09,516 --> 01:29:10,809
  5997. We didn't do anything wrong.
  5998.  
  5999. 1383
  6000. 01:29:10,893 --> 01:29:14,354
  6001. They wanna shut us down,
  6002. they got plenty ways they can do that.
  6003.  
  6004. 1384
  6005. 01:29:14,771 --> 01:29:16,773
  6006. "5% default rate?
  6007.  
  6008. 1385
  6009. 01:29:17,649 --> 01:29:20,152
  6010. Hell. What if there's a drought?
  6011.  
  6012. 1386
  6013. 01:29:20,235 --> 01:29:22,571
  6014. You niggers need to value them loans
  6015.  
  6016. 1387
  6017. 01:29:22,654 --> 01:29:26,575
  6018. assuming there's gonna be
  6019. a once-in-a-generation drought.
  6020.  
  6021. 1388
  6022. 01:29:27,075 --> 01:29:29,661
  6023. 25% default rate for y'all."
  6024.  
  6025. 1389
  6026. 01:29:31,705 --> 01:29:34,208
  6027. This loan's gonna have to be
  6028. sold off immediately.
  6029.  
  6030. 1390
  6031. 01:29:35,375 --> 01:29:36,710
  6032. And this one.
  6033.  
  6034. 1391
  6035. 01:29:37,127 --> 01:29:39,087
  6036. And this one.
  6037.  
  6038. 1392
  6039. 01:29:39,171 --> 01:29:41,215
  6040. Why? Why? What's wrong with them?
  6041.  
  6042. 1393
  6043. 01:29:41,298 --> 01:29:43,175
  6044. Well, that loan is for $21,000.
  6045.  
  6046. 1394
  6047. 01:29:43,258 --> 01:29:45,844
  6048. Your capital account is $200,000.
  6049.  
  6050. 1395
  6051. 01:29:45,928 --> 01:29:46,929
  6052. Okay.
  6053.  
  6054. 1396
  6055. 01:29:49,139 --> 01:29:51,391
  6056. You don't understand why that's a problem,
  6057. do you?
  6058.  
  6059. 1397
  6060. 01:29:52,935 --> 01:29:57,439
  6061. The National Banking Act specifies that no
  6062. bank shall have a single loan on the books
  6063.  
  6064. 1398
  6065. 01:29:57,523 --> 01:29:59,858
  6066. that exceeds 10% of equity capital.
  6067.  
  6068. 1399
  6069. 01:29:59,942 --> 01:30:02,069
  6070. Or $20,000 in this case.
  6071.  
  6072. 1400
  6073. 01:30:02,986 --> 01:30:03,986
  6074. Right.
  6075.  
  6076. 1401
  6077. 01:30:07,574 --> 01:30:09,284
  6078. Okay, but this one's only 4,000.
  6079.  
  6080. 1402
  6081. 01:30:09,368 --> 01:30:11,578
  6082. It's for a 25-year term.
  6083. Same with this one.
  6084.  
  6085. 1403
  6086. 01:30:13,080 --> 01:30:15,582
  6087. A bank of this size
  6088. is limited to 20-year terms.
  6089.  
  6090. 1404
  6091. 01:30:16,750 --> 01:30:20,879
  6092. And this loan is legal on its face,
  6093. but it's three months delinquent.
  6094.  
  6095. 1405
  6096. 01:30:21,797 --> 01:30:24,716
  6097. I'm not gonna require you to sell it,
  6098. but I'm gonna classify it.
  6099.  
  6100. 1406
  6101. 01:30:24,800 --> 01:30:27,135
  6102. Take its value down on your books by 40%
  6103.  
  6104. 1407
  6105. 01:30:27,219 --> 01:30:29,137
  6106. to account for the elevated risk
  6107. of default.
  6108.  
  6109. 1408
  6110. 01:30:35,394 --> 01:30:38,146
  6111. Hold on. I'll be right back.
  6112.  
  6113. 1409
  6114. 01:30:43,569 --> 01:30:45,612
  6115. How the hell
  6116. did these loans get in the package?
  6117.  
  6118. 1410
  6119. 01:30:45,696 --> 01:30:47,573
  6120. - I don't know.
  6121. - Unacceptable.
  6122.  
  6123. 1411
  6124. 01:30:47,656 --> 01:30:49,658
  6125. I looked over every individual loan, Matt.
  6126.  
  6127. 1412
  6128. 01:30:49,741 --> 01:30:52,578
  6129. There was nothing over $20,000.
  6130. Nothing over 20 years.
  6131.  
  6132. 1413
  6133. 01:30:52,661 --> 01:30:54,913
  6134. Did you look at the loans
  6135. when you picked them up?
  6136.  
  6137. 1414
  6138. 01:30:55,581 --> 01:30:57,666
  6139. Did you look at the goddamn loans?
  6140.  
  6141. 1415
  6142. 01:30:57,749 --> 01:30:59,909
  6143. Yes, I looked through them.
  6144. Maybe not carefully enough.
  6145.  
  6146. 1416
  6147. 01:30:59,960 --> 01:31:00,961
  6148. I read the top sheet...
  6149.  
  6150. 1417
  6151. 01:31:01,044 --> 01:31:02,171
  6152. Unbelievable.
  6153.  
  6154. 1418
  6155. 01:31:02,713 --> 01:31:04,381
  6156. Well, they can't lie on the top sheet.
  6157.  
  6158. 1419
  6159. 01:31:04,464 --> 01:31:07,050
  6160. Matt, there aren't any limiters.
  6161.  
  6162. 1420
  6163. 01:31:07,134 --> 01:31:07,926
  6164. What?
  6165.  
  6166. 1421
  6167. 01:31:08,010 --> 01:31:10,929
  6168. There isn't anything on this top sheet
  6169. about individual loan limits,
  6170.  
  6171. 1422
  6172. 01:31:11,013 --> 01:31:12,598
  6173. dollar amounts or durations.
  6174.  
  6175. 1423
  6176. 01:31:12,681 --> 01:31:13,932
  6177. They're all averages.
  6178.  
  6179. 1424
  6180. 01:31:15,142 --> 01:31:16,268
  6181. They didn't lie.
  6182.  
  6183. 1425
  6184. 01:31:16,351 --> 01:31:18,270
  6185. They just hid the shit in the averages.
  6186.  
  6187. 1426
  6188. 01:31:18,353 --> 01:31:20,689
  6189. How the hell did our lawyer miss that?
  6190.  
  6191. 1427
  6192. 01:31:21,315 --> 01:31:23,400
  6193. - I couldn't use O'Keefe.
  6194. - What?
  6195.  
  6196. 1428
  6197. 01:31:23,483 --> 01:31:26,163
  6198. Bernard checked the properties so fast
  6199. I moved up the purchase date.
  6200.  
  6201. 1429
  6202. 01:31:26,236 --> 01:31:28,047
  6203. O'Keefe couldn't make it,
  6204. so I hired someone else.
  6205.  
  6206. 1430
  6207. 01:31:28,071 --> 01:31:29,671
  6208. - How did you find him?
  6209. - I asked around.
  6210.  
  6211. 1431
  6212. 01:31:29,698 --> 01:31:32,075
  6213. You asked... He asked around.
  6214. What the hell's that mean?
  6215.  
  6216. 1432
  6217. 01:31:32,159 --> 01:31:34,912
  6218. We told you you weren't ready
  6219. to run your own bank. We told you.
  6220.  
  6221. 1433
  6222. 01:31:34,995 --> 01:31:36,830
  6223. You forced our hand. Now here we are.
  6224.  
  6225. 1434
  6226. 01:31:36,914 --> 01:31:37,915
  6227. Whoa, whoa, whoa.
  6228.  
  6229. 1435
  6230. 01:31:38,624 --> 01:31:43,295
  6231. Who exactly did you ask
  6232. to find this lawyer?
  6233.  
  6234. 1436
  6235. 01:31:45,672 --> 01:31:46,673
  6236. Who, Matt?
  6237.  
  6238. 1437
  6239. 01:31:47,508 --> 01:31:48,509
  6240. Florance.
  6241.  
  6242. 1438
  6243. 01:31:49,593 --> 01:31:50,719
  6244. Florance?
  6245.  
  6246. 1439
  6247. 01:31:51,303 --> 01:31:52,888
  6248. You asked Florance?
  6249.  
  6250. 1440
  6251. 01:31:54,264 --> 01:31:56,558
  6252. He switched the goddamn mortgages.
  6253.  
  6254. 1441
  6255. 01:31:56,642 --> 01:31:57,809
  6256. Why? Why would he do that?
  6257.  
  6258. 1442
  6259. 01:31:57,893 --> 01:31:59,228
  6260. To kill Marlin.
  6261.  
  6262. 1443
  6263. 01:31:59,311 --> 01:32:03,023
  6264. And the worst part is I have to learn
  6265. about it here, in this ridiculous outfit,
  6266.  
  6267. 1444
  6268. 01:32:03,106 --> 01:32:04,274
  6269. that you helped him do it!
  6270.  
  6271. 1445
  6272. 01:32:04,358 --> 01:32:05,901
  6273. No, that's gotta be illegal, right?
  6274.  
  6275. 1446
  6276. 01:32:06,902 --> 01:32:08,487
  6277. What does he get from that, anyway?
  6278.  
  6279. 1447
  6280. 01:32:08,570 --> 01:32:09,988
  6281. Leverage.
  6282.  
  6283. 1448
  6284. 01:32:10,072 --> 01:32:12,282
  6285. Against us at Mainland.
  6286.  
  6287. 1449
  6288. 01:32:13,075 --> 01:32:14,868
  6289. Or maybe just to watch us fail.
  6290.  
  6291. 1450
  6292. 01:32:24,127 --> 01:32:29,883
  6293. We have to sell 27 bad loans in a week
  6294. and cover all the markdowns ourselves.
  6295.  
  6296. 1451
  6297. 01:32:31,176 --> 01:32:33,053
  6298. We're gonna lose $300,000,
  6299.  
  6300. 1452
  6301. 01:32:33,136 --> 01:32:38,308
  6302. unless Matt Steiner can make Marlin
  6303. the most successful bank in Texas history.
  6304.  
  6305. 1453
  6306. 01:32:41,854 --> 01:32:43,647
  6307. Or you could let it close.
  6308.  
  6309. 1454
  6310. 01:32:45,899 --> 01:32:47,359
  6311. Matt got you here, you didn't.
  6312.  
  6313. 1455
  6314. 01:32:47,442 --> 01:32:49,570
  6315. No, I did.
  6316.  
  6317. 1456
  6318. 01:32:50,404 --> 01:32:54,074
  6319. Soon as I thought I was clever enough
  6320. to come down here and take on all of this.
  6321.  
  6322. 1457
  6323. 01:32:54,867 --> 01:32:55,909
  6324. Joe warned me.
  6325.  
  6326. 1458
  6327. 01:32:57,035 --> 01:32:58,036
  6328. You warned me.
  6329.  
  6330. 1459
  6331. 01:33:00,497 --> 01:33:02,499
  6332. My daddy warned me when I was 13.
  6333.  
  6334. 1460
  6335. 01:33:07,004 --> 01:33:10,465
  6336. If this was easy, somebody else
  6337. would have done it a long time ago.
  6338.  
  6339. 1461
  6340. 01:33:16,263 --> 01:33:18,098
  6341. So, you're just gonna walk away from it?
  6342.  
  6343. 1462
  6344. 01:33:18,640 --> 01:33:20,184
  6345. It's the only rational thing to do.
  6346.  
  6347. 1463
  6348. 01:33:20,267 --> 01:33:21,727
  6349. No, we could sue the bastards.
  6350.  
  6351. 1464
  6352. 01:33:21,810 --> 01:33:25,147
  6353. You signed a document saying
  6354. you knew exactly what you were buying.
  6355.  
  6356. 1465
  6357. 01:33:25,230 --> 01:33:27,065
  6358. But the lawyer lied to me. We can sue him.
  6359.  
  6360. 1466
  6361. 01:33:27,149 --> 01:33:29,318
  6362. Maybe you can, Matt, but we can't.
  6363.  
  6364. 1467
  6365. 01:33:29,943 --> 01:33:32,654
  6366. Me and Bernard can't win that case,
  6367. not in Texas.
  6368.  
  6369. 1468
  6370. 01:33:33,197 --> 01:33:36,241
  6371. Plus, Marlin will be gone by then anyway.
  6372.  
  6373. 1469
  6374. 01:33:36,325 --> 01:33:39,036
  6375. I'm not gonna lose Marlin.
  6376. There's gotta be something I can do.
  6377.  
  6378. 1470
  6379. 01:33:39,119 --> 01:33:40,120
  6380. Look, I'm sorry, Matt.
  6381.  
  6382. 1471
  6383. 01:33:40,204 --> 01:33:43,081
  6384. I know it was your baby,
  6385. but I need you to focus on Mainland now.
  6386.  
  6387. 1472
  6388. 01:33:45,459 --> 01:33:46,460
  6389. Well, how?
  6390.  
  6391. 1473
  6392. 01:33:46,543 --> 01:33:47,961
  6393. Keep an eye on Florance.
  6394.  
  6395. 1474
  6396. 01:33:48,045 --> 01:33:50,172
  6397. And make sure when white folks
  6398. come in that bank,
  6399.  
  6400. 1475
  6401. 01:33:50,255 --> 01:33:52,591
  6402. they see a white man
  6403. in the president's office
  6404.  
  6405. 1476
  6406. 01:33:52,674 --> 01:33:54,468
  6407. so they won't pull their deposits.
  6408.  
  6409. 1477
  6410. 01:34:15,322 --> 01:34:16,532
  6411. Garrett residence.
  6412.  
  6413. 1478
  6414. 01:34:17,074 --> 01:34:19,201
  6415. Yes, he's here. Just a moment.
  6416.  
  6417. 1479
  6418. 01:34:19,701 --> 01:34:21,161
  6419. Joe, it's for you.
  6420.  
  6421. 1480
  6422. 01:34:23,330 --> 01:34:24,498
  6423. Yeah, this is Joe.
  6424.  
  6425. 1481
  6426. 01:34:24,581 --> 01:34:25,642
  6427. You didn't hear this from me,
  6428.  
  6429. 1482
  6430. 01:34:25,666 --> 01:34:29,044
  6431. but I got a friend at the Comptroller's
  6432. office who kind of looks out for me.
  6433.  
  6434. 1483
  6435. 01:34:29,753 --> 01:34:30,921
  6436. Called me yesterday to say
  6437.  
  6438. 1484
  6439. 01:34:31,004 --> 01:34:34,091
  6440. Matt Steiner managed to get all
  6441. "must sell" loans off Marlin's books.
  6442.  
  6443. 1485
  6444. 01:34:34,591 --> 01:34:35,425
  6445. That don't matter,
  6446.  
  6447. 1486
  6448. 01:34:35,509 --> 01:34:38,071
  6449. 'cause we decided we ain't gonna
  6450. put no more money in there anyhow.
  6451.  
  6452. 1487
  6453. 01:34:38,095 --> 01:34:39,805
  6454. At face value. No discount.
  6455.  
  6456. 1488
  6457. 01:34:39,888 --> 01:34:42,516
  6458. Which means Marlin's in the black again,
  6459. fully solvent...
  6460.  
  6461. 1489
  6462. 01:34:43,725 --> 01:34:45,018
  6463. without capital from you.
  6464.  
  6465. 1490
  6466. 01:34:46,019 --> 01:34:49,273
  6467. Who the hell would pay face value
  6468. for those piece of shit loans?
  6469.  
  6470. 1491
  6471. 01:34:49,898 --> 01:34:51,817
  6472. Mainland bank in Willis, Texas.
  6473.  
  6474. 1492
  6475. 01:34:51,900 --> 01:34:53,026
  6476. Say what?
  6477.  
  6478. 1493
  6479. 01:34:53,569 --> 01:34:55,404
  6480. Son of a bitch!
  6481.  
  6482. 1494
  6483. 01:35:18,927 --> 01:35:20,220
  6484. What the hell are you doing?
  6485.  
  6486. 1495
  6487. 01:35:20,304 --> 01:35:21,889
  6488. You had Mainland pay face value
  6489.  
  6490. 1496
  6491. 01:35:21,972 --> 01:35:24,558
  6492. for the loans the feds
  6493. already had you mark down at Marlin?
  6494.  
  6495. 1497
  6496. 01:35:24,641 --> 01:35:25,809
  6497. It's just temporary.
  6498.  
  6499. 1498
  6500. 01:35:25,893 --> 01:35:28,145
  6501. - It's fraud.
  6502. - No, if we classify them differently...
  6503.  
  6504. 1499
  6505. 01:35:28,228 --> 01:35:31,064
  6506. If you keep this up,
  6507. you're gonna sink both banks, Matt.
  6508.  
  6509. 1500
  6510. 01:35:31,815 --> 01:35:32,941
  6511. Get the books.
  6512.  
  6513. 1501
  6514. 01:35:33,609 --> 01:35:35,944
  6515. - Shouldn't we wait until...
  6516. - Get the goddamn books now.
  6517.  
  6518. 1502
  6519. 01:35:54,922 --> 01:35:57,090
  6520. All I did was transfer the...
  6521.  
  6522. 1503
  6523. 01:35:57,174 --> 01:35:59,551
  6524. Matthew Steiner,
  6525. president of Mainland Bank?
  6526.  
  6527. 1504
  6528. 01:36:00,761 --> 01:36:01,762
  6529. - Yes.
  6530. - I'm Norman Dunn,
  6531.  
  6532. 1505
  6533. 01:36:01,845 --> 01:36:04,765
  6534. Deputy Comptroller of the Currency
  6535. for the Southern District.
  6536.  
  6537. 1506
  6538. 01:36:04,848 --> 01:36:08,101
  6539. The Treasury Department has revoked
  6540. Mainland's license to do banking.
  6541.  
  6542. 1507
  6543. 01:36:08,185 --> 01:36:11,897
  6544. Your bank is being placed in FDIC
  6545. receivership per the National Banking Act.
  6546.  
  6547. 1508
  6548. 01:36:11,980 --> 01:36:13,899
  6549. This is Mr. Amos of the FDIC.
  6550.  
  6551. 1509
  6552. 01:36:14,316 --> 01:36:16,610
  6553. Mr. Steiner, you're fired.
  6554.  
  6555. 1510
  6556. 01:36:16,693 --> 01:36:18,546
  6557. I'm going to need to escort you
  6558. from the building now.
  6559.  
  6560. 1511
  6561. 01:36:18,570 --> 01:36:20,531
  6562. Please leave the ledgers where they are.
  6563.  
  6564. 1512
  6565. 01:36:22,950 --> 01:36:24,159
  6566. Ladies and gentlemen,
  6567.  
  6568. 1513
  6569. 01:36:24,243 --> 01:36:28,288
  6570. the United States Treasury Department
  6571. has closed this bank until further notice.
  6572.  
  6573. 1514
  6574. 01:36:28,372 --> 01:36:32,459
  6575. All deposits up to $10,000
  6576. are insured by the federal government.
  6577.  
  6578. 1515
  6579. 01:36:32,543 --> 01:36:36,380
  6580. Upon FDIC review of the bank's books,
  6581. your money will be returned to you.
  6582.  
  6583. 1516
  6584. 01:36:36,880 --> 01:36:38,799
  6585. The building is now closed to the public.
  6586.  
  6587. 1517
  6588. 01:36:38,882 --> 01:36:40,968
  6589. We must ask that you leave.
  6590.  
  6591. 1518
  6592. 01:36:50,644 --> 01:36:53,188
  6593. I'm so sorry.
  6594. I thought that I could save both...
  6595.  
  6596. 1519
  6597. 01:36:53,272 --> 01:36:54,314
  6598. Get out of my face.
  6599.  
  6600. 1520
  6601. 01:36:55,065 --> 01:36:57,192
  6602. - Bernard Garrett and Joseph Morris?
  6603. - Yes.
  6604.  
  6605. 1521
  6606. 01:36:57,276 --> 01:36:59,111
  6607. - FBI. You're under arrest.
  6608. - For what?
  6609.  
  6610. 1522
  6611. 01:36:59,194 --> 01:37:00,338
  6612. Turn around and face the wall.
  6613.  
  6614. 1523
  6615. 01:37:00,362 --> 01:37:02,757
  6616. No. What are we under arrest for?
  6617. What did we do that's illegal?
  6618.  
  6619. 1524
  6620. 01:37:02,781 --> 01:37:04,008
  6621. - The judge will tell you that.
  6622. - No, screw the judge.
  6623.  
  6624. 1525
  6625. 01:37:04,032 --> 01:37:05,885
  6626. - You tell me what we did that's illegal.
  6627. - Bernard.
  6628.  
  6629. 1526
  6630. 01:37:05,909 --> 01:37:07,220
  6631. - What's he complaining about?
  6632. - I get it.
  6633.  
  6634. 1527
  6635. 01:37:07,244 --> 01:37:10,098
  6636. A black man makes some money and it's okay
  6637. as long as he keeps to himself.
  6638.  
  6639. 1528
  6640. 01:37:10,122 --> 01:37:12,433
  6641. But if he try to bring other brothers up,
  6642. that's intolerable.
  6643.  
  6644. 1529
  6645. 01:37:12,457 --> 01:37:14,126
  6646. This is happening, Mr. Garrett.
  6647.  
  6648. 1530
  6649. 01:37:14,209 --> 01:37:17,379
  6650. The only question to ask yourself
  6651. is do you want to get hurt fighting it?
  6652.  
  6653. 1531
  6654. 01:37:18,255 --> 01:37:20,257
  6655. - Hey, get off of him!
  6656. - Bernard, no! No!
  6657.  
  6658. 1532
  6659. 01:37:25,262 --> 01:37:26,263
  6660. Come on.
  6661.  
  6662. 1533
  6663. 01:37:36,899 --> 01:37:40,068
  6664. <i>The state banking charges
  6665. have all been dropped.</i>
  6666.  
  6667. 1534
  6668. 01:37:40,152 --> 01:37:43,822
  6669. The federal charges,
  6670. however, are all still in place.
  6671.  
  6672. 1535
  6673. 01:37:44,656 --> 01:37:48,410
  6674. Now, it's my feeling
  6675. that we're in a political space here.
  6676.  
  6677. 1536
  6678. 01:37:48,785 --> 01:37:50,454
  6679. So if we play our cards right,
  6680.  
  6681. 1537
  6682. 01:37:50,954 --> 01:37:53,332
  6683. we'll be able to get
  6684. those charges dropped as well.
  6685.  
  6686. 1538
  6687. 01:37:53,415 --> 01:37:54,499
  6688. Political how?
  6689.  
  6690. 1539
  6691. 01:37:55,334 --> 01:37:57,503
  6692. Well, Senator John McClellan of Arkansas
  6693.  
  6694. 1540
  6695. 01:37:57,586 --> 01:38:01,632
  6696. is holding a set of hearings
  6697. on federally funded banks.
  6698.  
  6699. 1541
  6700. 01:38:01,715 --> 01:38:07,221
  6701. The goal seems to be to shit all over
  6702. the so-called "lax oversight"
  6703.  
  6704. 1542
  6705. 01:38:07,304 --> 01:38:09,139
  6706. that our Treasury provides,
  6707.  
  6708. 1543
  6709. 01:38:09,723 --> 01:38:13,685
  6710. so as to justify his committee
  6711. expanding its jurisdiction.
  6712.  
  6713. 1544
  6714. 01:38:13,769 --> 01:38:18,106
  6715. Thereby ensuring a steady stream
  6716. of campaign donations
  6717.  
  6718. 1545
  6719. 01:38:18,190 --> 01:38:20,734
  6720. and favors from the banking industry.
  6721.  
  6722. 1546
  6723. 01:38:20,817 --> 01:38:22,819
  6724. So, what does that have to do with me?
  6725.  
  6726. 1547
  6727. 01:38:22,903 --> 01:38:24,988
  6728. You want the stated
  6729. or the unstated version?
  6730.  
  6731. 1548
  6732. 01:38:26,365 --> 01:38:27,366
  6733. Unstated.
  6734.  
  6735. 1549
  6736. 01:38:27,449 --> 01:38:29,243
  6737. "We need to change these laws.
  6738.  
  6739. 1550
  6740. 01:38:29,326 --> 01:38:30,619
  6741. And I mean quick!
  6742.  
  6743. 1551
  6744. 01:38:30,702 --> 01:38:35,290
  6745. Or niggers like these can own banks
  6746. and loan money to other niggers."
  6747.  
  6748. 1552
  6749. 01:38:35,374 --> 01:38:36,375
  6750. That.
  6751.  
  6752. 1553
  6753. 01:38:37,376 --> 01:38:39,044
  6754. On the bright side, Bernard,
  6755.  
  6756. 1554
  6757. 01:38:39,127 --> 01:38:42,881
  6758. 'cause we fit so neatly
  6759. into McClellan's power grab,
  6760.  
  6761. 1555
  6762. 01:38:43,382 --> 01:38:47,845
  6763. the whole country's talkin' about
  6764. how two Negroes managed to buy two banks
  6765.  
  6766. 1556
  6767. 01:38:47,928 --> 01:38:52,057
  6768. full of white folks' money in Texas
  6769. and loan it to other Negroes.
  6770.  
  6771. 1557
  6772. 01:38:52,432 --> 01:38:55,769
  6773. I thought McClellan was one of the first
  6774. people to stand up to McCarthyism.
  6775.  
  6776. 1558
  6777. 01:38:55,853 --> 01:38:56,687
  6778. He was.
  6779.  
  6780. 1559
  6781. 01:38:56,770 --> 01:38:58,856
  6782. So he must be a decent man, right?
  6783.  
  6784. 1560
  6785. 01:39:02,109 --> 01:39:06,196
  6786. You know, Bernard, I don't have
  6787. the ability to look into a man's soul.
  6788.  
  6789. 1561
  6790. 01:39:07,406 --> 01:39:09,032
  6791. But I will tell you this...
  6792.  
  6793. 1562
  6794. 01:39:09,616 --> 01:39:11,994
  6795. he means to make a point
  6796. with these hearings.
  6797.  
  6798. 1563
  6799. 01:39:12,077 --> 01:39:14,162
  6800. And if you want
  6801. to help him make that point,
  6802.  
  6803. 1564
  6804. 01:39:14,746 --> 01:39:19,710
  6805. I highly doubt that you're gonna have any
  6806. problem with any kind of criminal charges.
  6807.  
  6808. 1565
  6809. 01:39:21,837 --> 01:39:23,547
  6810. So, where's Matt in all this?
  6811.  
  6812. 1566
  6813. 01:39:23,630 --> 01:39:26,341
  6814. Now, that is a good question.
  6815.  
  6816. 1567
  6817. 01:39:35,475 --> 01:39:37,019
  6818. My lawyer doesn't want me here.
  6819.  
  6820. 1568
  6821. 01:39:38,020 --> 01:39:40,814
  6822. Then your lawyer doesn't have
  6823. your best interests at heart, Matt.
  6824.  
  6825. 1569
  6826. 01:39:41,315 --> 01:39:44,026
  6827. Because we can make a deal here
  6828. that could save your life.
  6829.  
  6830. 1570
  6831. 01:39:44,109 --> 01:39:45,319
  6832. How does that work exactly?
  6833.  
  6834. 1571
  6835. 01:39:46,570 --> 01:39:47,571
  6836. You're gonna...
  6837.  
  6838. 1572
  6839. 01:39:48,155 --> 01:39:50,574
  6840. give me back my money? My house?
  6841.  
  6842. 1573
  6843. 01:39:51,658 --> 01:39:52,868
  6844. Hardly.
  6845.  
  6846. 1574
  6847. 01:39:52,951 --> 01:39:55,037
  6848. But I can give you immunity.
  6849.  
  6850. 1575
  6851. 01:39:55,495 --> 01:39:57,623
  6852. And you might avoid
  6853. being called to account
  6854.  
  6855. 1576
  6856. 01:39:58,248 --> 01:40:01,001
  6857. for lying to the public
  6858. on 23 separate occasions
  6859.  
  6860. 1577
  6861. 01:40:01,084 --> 01:40:04,171
  6862. about the true ownership
  6863. of the Mainland and Marlin banks.
  6864.  
  6865. 1578
  6866. 01:40:05,172 --> 01:40:08,091
  6867. Fraudulently valuing loans in these banks.
  6868.  
  6869. 1579
  6870. 01:40:09,134 --> 01:40:13,263
  6871. Illegally transferring said loans
  6872. between the banks in question.
  6873.  
  6874. 1580
  6875. 01:40:16,850 --> 01:40:18,101
  6876. It's an easy story to tell,
  6877.  
  6878. 1581
  6879. 01:40:18,894 --> 01:40:22,105
  6880. how these two men manipulated you,
  6881.  
  6882. 1582
  6883. 01:40:23,190 --> 01:40:27,402
  6884. used you to make money by duping everyday
  6885. citizens into thinking you were the boss,
  6886.  
  6887. 1583
  6888. 01:40:27,486 --> 01:40:30,948
  6889. when really it was
  6890. two Negroes pulling the strings.
  6891.  
  6892. 1584
  6893. 01:40:32,908 --> 01:40:35,327
  6894. But they didn't force me
  6895. to do the things I did.
  6896.  
  6897. 1585
  6898. 01:40:36,286 --> 01:40:37,955
  6899. They were careful to follow the law.
  6900.  
  6901. 1586
  6902. 01:40:38,038 --> 01:40:40,499
  6903. You won't find any evidence
  6904. that they committed a crime.
  6905.  
  6906. 1587
  6907. 01:40:40,874 --> 01:40:42,793
  6908. See, that's the thing about banking crime,
  6909.  
  6910. 1588
  6911. 01:40:43,794 --> 01:40:45,712
  6912. there's always a subjective element to it.
  6913.  
  6914. 1589
  6915. 01:40:46,797 --> 01:40:47,840
  6916. Now,
  6917.  
  6918. 1590
  6919. 01:40:48,465 --> 01:40:51,134
  6920. these two Negroes earned...
  6921.  
  6922. 1591
  6923. 01:40:52,886 --> 01:40:55,681
  6924. 189,000 between the two of them,
  6925.  
  6926. 1592
  6927. 01:40:56,682 --> 01:41:02,521
  6928. off a $971,000 purchase of mortgages
  6929. that in fact were worth 663,000.
  6930.  
  6931. 1593
  6932. 01:41:02,604 --> 01:41:06,483
  6933. See, that is a misuse of bank funds
  6934. in my book.
  6935.  
  6936. 1594
  6937. 01:41:07,484 --> 01:41:09,152
  6938. And a misuse of bank funds is a crime.
  6939.  
  6940. 1595
  6941. 01:41:09,236 --> 01:41:10,737
  6942. It's more complicated than that.
  6943.  
  6944. 1596
  6945. 01:41:10,821 --> 01:41:12,406
  6946. I don't think it is, Mr. Steiner.
  6947.  
  6948. 1597
  6949. 01:41:13,907 --> 01:41:17,703
  6950. Unless you're telling me they didn't force
  6951. you to buy these dog-shit mortgages...
  6952.  
  6953. 1598
  6954. 01:41:19,705 --> 01:41:23,083
  6955. so they could bilk the bank
  6956. of $189,000 of commission.
  6957.  
  6958. 1599
  6959. 01:41:25,794 --> 01:41:27,212
  6960. Then maybe they are innocent
  6961.  
  6962. 1600
  6963. 01:41:28,964 --> 01:41:31,049
  6964. and maybe
  6965. someone else needs to go to prison.
  6966.  
  6967. 1601
  6968. 01:41:39,057 --> 01:41:41,059
  6969. I'm really sorry I ever brought him in.
  6970.  
  6971. 1602
  6972. 01:41:41,143 --> 01:41:42,561
  6973. You didn't force me to hire him.
  6974.  
  6975. 1603
  6976. 01:41:43,061 --> 01:41:45,189
  6977. Joe warned me a dozen times as well.
  6978.  
  6979. 1604
  6980. 01:41:47,733 --> 01:41:49,526
  6981. Just wanted to believe in him, I guess.
  6982.  
  6983. 1605
  6984. 01:41:52,112 --> 01:41:55,490
  6985. I hope whoever owns this place is taking
  6986. good care of you for the renovation.
  6987.  
  6988. 1606
  6989. 01:41:58,493 --> 01:41:59,494
  6990. He is...
  6991.  
  6992. 1607
  6993. 01:42:01,205 --> 01:42:02,206
  6994. 'cause it's me.
  6995.  
  6996. 1608
  6997. 01:42:05,626 --> 01:42:06,627
  6998. Yeah.
  6999.  
  7000. 1609
  7001. 01:42:07,503 --> 01:42:09,046
  7002. Yeah.
  7003.  
  7004. 1610
  7005. 01:42:28,690 --> 01:42:31,777
  7006. <i>So, it's your testimony that
  7007. you've always been under the direction</i>
  7008.  
  7009. 1611
  7010. 01:42:31,860 --> 01:42:33,570
  7011. of Bernard Garrett and Joe Morris.
  7012.  
  7013. 1612
  7014. 01:42:33,654 --> 01:42:34,780
  7015. Is that correct?
  7016.  
  7017. 1613
  7018. 01:42:38,450 --> 01:42:39,701
  7019. It is. Yes.
  7020.  
  7021. 1614
  7022. 01:42:40,619 --> 01:42:42,829
  7023. You ever refuse an order
  7024. from Garrett or Morris?
  7025.  
  7026. 1615
  7027. 01:42:44,581 --> 01:42:48,752
  7028. For example, the initial purchase
  7029. of mortgages by the Marlin bank,
  7030.  
  7031. 1616
  7032. 01:42:49,545 --> 01:42:54,132
  7033. for which Garrett and Morris
  7034. were compensated $189,000,
  7035.  
  7036. 1617
  7037. 01:42:55,008 --> 01:42:58,887
  7038. or Mainland Bank's subsequent purchase
  7039. at grossly inflated prices
  7040.  
  7041. 1618
  7042. 01:42:59,805 --> 01:43:01,640
  7043. of problem mortgages from Marlin?
  7044.  
  7045. 1619
  7046. 01:43:04,768 --> 01:43:07,646
  7047. They were my employers.
  7048. I carried out their wishes to the letter.
  7049.  
  7050. 1620
  7051. 01:43:51,607 --> 01:43:53,817
  7052. <i>I'm surprised
  7053. you requested this meeting, Melvin.</i>
  7054.  
  7055. 1621
  7056. 01:43:54,651 --> 01:43:57,779
  7057. {\an8}It seemed my offer required
  7058. a simple answer, yes or no.
  7059.  
  7060. 1622
  7061. 01:43:58,572 --> 01:44:00,908
  7062. {\an8}Especially given
  7063. how solid Steiner was today.
  7064.  
  7065. 1623
  7066. 01:44:01,742 --> 01:44:03,869
  7067. Well, John, Bernard's not the kind of man
  7068.  
  7069. 1624
  7070. 01:44:03,952 --> 01:44:06,705
  7071. to make a deal
  7072. without checking all the details.
  7073.  
  7074. 1625
  7075. 01:44:08,624 --> 01:44:11,251
  7076. It seems to me
  7077. that a large part of his purported defense
  7078.  
  7079. 1626
  7080. 01:44:11,335 --> 01:44:12,461
  7081. is that he did just that.
  7082.  
  7083. 1627
  7084. 01:44:14,463 --> 01:44:17,424
  7085. You want me to put the banking rules
  7086. on trial in my testimony.
  7087.  
  7088. 1628
  7089. 01:44:17,841 --> 01:44:19,259
  7090. I want you to tell the truth.
  7091.  
  7092. 1629
  7093. 01:44:20,093 --> 01:44:21,720
  7094. Which should have that result, yes.
  7095.  
  7096. 1630
  7097. 01:44:23,472 --> 01:44:26,934
  7098. The rules allowed you
  7099. to hide your identity from the public
  7100.  
  7101. 1631
  7102. 01:44:27,017 --> 01:44:32,397
  7103. and take the successive actions that led
  7104. to two national banks becoming insolvent,
  7105.  
  7106. 1632
  7107. 01:44:33,982 --> 01:44:37,778
  7108. risking the savings
  7109. of thousands of innocent depositors.
  7110.  
  7111. 1633
  7112. 01:44:39,029 --> 01:44:40,906
  7113. You and I see the truth very differently.
  7114.  
  7115. 1634
  7116. 01:44:42,741 --> 01:44:44,034
  7117. Son, I'm from Arkansas.
  7118.  
  7119. 1635
  7120. 01:44:44,660 --> 01:44:48,121
  7121. You don't have to tell me that Negroes
  7122. sometimes get the short end of the stick.
  7123.  
  7124. 1636
  7125. 01:44:48,580 --> 01:44:49,706
  7126. "Sometimes."
  7127.  
  7128. 1637
  7129. 01:44:52,709 --> 01:44:54,169
  7130. We're not gonna change that here.
  7131.  
  7132. 1638
  7133. 01:44:56,380 --> 01:44:59,633
  7134. The truth is, whatever obstacles
  7135. they put in your way,
  7136.  
  7137. 1639
  7138. 01:44:59,716 --> 01:45:02,219
  7139. you kept your head down,
  7140. did your business,
  7141.  
  7142. 1640
  7143. 01:45:02,594 --> 01:45:06,265
  7144. became one of the richest Negroes
  7145. in the country.
  7146.  
  7147. 1641
  7148. 01:45:10,352 --> 01:45:12,187
  7149. You were living the American dream
  7150.  
  7151. 1642
  7152. 01:45:14,398 --> 01:45:19,444
  7153. before you decided to go mucking around
  7154. with the social order in Texas.
  7155.  
  7156. 1643
  7157. 01:45:21,572 --> 01:45:22,948
  7158. Might be a lesson there.
  7159.  
  7160. 1644
  7161. 01:45:23,657 --> 01:45:24,741
  7162. You have a choice now.
  7163.  
  7164. 1645
  7165. 01:45:26,827 --> 01:45:28,704
  7166. Take the immunity deal.
  7167.  
  7168. 1646
  7169. 01:45:28,787 --> 01:45:32,457
  7170. Go in there and confirm
  7171. what Steiner just told us,
  7172.  
  7173. 1647
  7174. 01:45:32,541 --> 01:45:37,880
  7175. that you took advantage of lax rules
  7176. in order to enrich yourself.
  7177.  
  7178. 1648
  7179. 01:45:38,839 --> 01:45:42,092
  7180. And let Congress fix those rules,
  7181. and you'll be a free man.
  7182.  
  7183. 1649
  7184. 01:45:43,177 --> 01:45:45,762
  7185. Or you can refuse the deal...
  7186.  
  7187. 1650
  7188. 01:45:46,847 --> 01:45:48,015
  7189. and say whatever you want.
  7190.  
  7191. 1651
  7192. 01:45:50,184 --> 01:45:51,185
  7193. But just know,
  7194.  
  7195. 1652
  7196. 01:45:52,728 --> 01:45:58,400
  7197. after you're done saying your piece
  7198. about racism and the plight of the Negro,
  7199.  
  7200. 1653
  7201. 01:45:58,483 --> 01:46:01,195
  7202. we're gonna compare your testimony
  7203. point for point
  7204.  
  7205. 1654
  7206. 01:46:01,278 --> 01:46:03,322
  7207. with what we heard
  7208. from Steiner and Florance,
  7209.  
  7210. 1655
  7211. 01:46:03,405 --> 01:46:05,157
  7212. and a whole bunch of other white people.
  7213.  
  7214. 1656
  7215. 01:46:05,240 --> 01:46:08,994
  7216. Well, thank God the Constitution
  7217. doesn't make those types of distinctions.
  7218.  
  7219. 1657
  7220. 01:46:10,120 --> 01:46:11,914
  7221. Well, at the end of all that,
  7222.  
  7223. 1658
  7224. 01:46:11,997 --> 01:46:14,124
  7225. a determination will be made
  7226. by a court of law
  7227.  
  7228. 1659
  7229. 01:46:14,208 --> 01:46:15,876
  7230. to decide who's telling the truth...
  7231.  
  7232. 1660
  7233. 01:46:16,919 --> 01:46:17,920
  7234. and who's lying.
  7235.  
  7236. 1661
  7237. 01:46:19,505 --> 01:46:21,006
  7238. And the liars are going to prison.
  7239.  
  7240. 1662
  7241. 01:46:25,761 --> 01:46:27,763
  7242. Sure is pretty from the outside.
  7243.  
  7244. 1663
  7245. 01:46:31,767 --> 01:46:32,893
  7246. Guess you were right.
  7247.  
  7248. 1664
  7249. 01:46:33,685 --> 01:46:36,813
  7250. It was too early
  7251. for two Negroes to own a bank in Texas.
  7252.  
  7253. 1665
  7254. 01:46:38,398 --> 01:46:39,399
  7255. Maybe.
  7256.  
  7257. 1666
  7258. 01:46:39,983 --> 01:46:41,985
  7259. Or maybe you were right to do it now.
  7260.  
  7261. 1667
  7262. 01:46:44,238 --> 01:46:45,322
  7263. Why?
  7264.  
  7265. 1668
  7266. 01:46:47,783 --> 01:46:48,992
  7267. Look where you ended up.
  7268.  
  7269. 1669
  7270. 01:46:51,620 --> 01:46:54,331
  7271. White people get to buy homes
  7272. and build businesses
  7273.  
  7274. 1670
  7275. 01:46:54,414 --> 01:46:56,083
  7276. because banks will loan them money.
  7277.  
  7278. 1671
  7279. 01:46:57,376 --> 01:46:58,669
  7280. Black people don't.
  7281.  
  7282. 1672
  7283. 01:46:58,752 --> 01:47:01,755
  7284. And maybe it is time that someone
  7285. shine a bright light on that now,
  7286.  
  7287. 1673
  7288. 01:47:02,339 --> 01:47:04,007
  7289. in order for things to change.
  7290.  
  7291. 1674
  7292. 01:47:05,259 --> 01:47:09,012
  7293. Well, if I shine the light too bright,
  7294. McClellan will get rid of my immunity.
  7295.  
  7296. 1675
  7297. 01:47:12,099 --> 01:47:13,809
  7298. What do you think I should do in there?
  7299.  
  7300. 1676
  7301. 01:47:15,853 --> 01:47:18,021
  7302. Everyone thought I was crazy to marry you.
  7303.  
  7304. 1677
  7305. 01:47:20,232 --> 01:47:22,776
  7306. You always thought differently
  7307. from everyone else.
  7308.  
  7309. 1678
  7310. 01:47:24,403 --> 01:47:26,738
  7311. But that's why
  7312. I fell in love with you, Bernard.
  7313.  
  7314. 1679
  7315. 01:47:27,906 --> 01:47:31,702
  7316. And whatever you decide to do
  7317. in there today is not gonna change that.
  7318.  
  7319. 1680
  7320. 01:47:45,132 --> 01:47:46,842
  7321. Would you mind giving me a minute?
  7322.  
  7323. 1681
  7324. 01:47:50,554 --> 01:47:52,806
  7325. Should I be jealous
  7326. you get to testify first?
  7327.  
  7328. 1682
  7329. 01:47:52,890 --> 01:47:53,974
  7330. No, man.
  7331.  
  7332. 1683
  7333. 01:47:54,808 --> 01:47:57,895
  7334. I'm just a warm-up act
  7335. for the criminal mastermind to follow.
  7336.  
  7337. 1684
  7338. 01:47:59,146 --> 01:48:00,898
  7339. Well, they gonna be disappointed as hell
  7340.  
  7341. 1685
  7342. 01:48:00,981 --> 01:48:02,983
  7343. because I plan to
  7344. blame all this shit on you.
  7345.  
  7346. 1686
  7347. 01:48:03,066 --> 01:48:05,152
  7348. Damn. That was my plan too.
  7349.  
  7350. 1687
  7351. 01:48:07,529 --> 01:48:09,406
  7352. You know, when I first laid eyes on you,
  7353.  
  7354. 1688
  7355. 01:48:09,489 --> 01:48:12,951
  7356. I thought you were this uptight,
  7357. square-ass Negro
  7358.  
  7359. 1689
  7360. 01:48:13,035 --> 01:48:15,329
  7361. who wouldn't know
  7362. whitey's hand was 'round his neck
  7363.  
  7364. 1690
  7365. 01:48:15,412 --> 01:48:17,039
  7366. if he was staring at it in a mirror.
  7367.  
  7368. 1691
  7369. 01:48:18,332 --> 01:48:20,292
  7370. Glad I made such a good first impression.
  7371.  
  7372. 1692
  7373. 01:48:21,835 --> 01:48:22,836
  7374. Turns out,
  7375.  
  7376. 1693
  7377. 01:48:23,754 --> 01:48:25,589
  7378. you a goddamn revolutionary.
  7379.  
  7380. 1694
  7381. 01:48:27,049 --> 01:48:28,634
  7382. You know, when I first met you,
  7383.  
  7384. 1695
  7385. 01:48:29,426 --> 01:48:32,012
  7386. I thought you were
  7387. an entitled playboy clown.
  7388.  
  7389. 1696
  7390. 01:48:34,056 --> 01:48:35,098
  7391. Man,
  7392.  
  7393. 1697
  7394. 01:48:36,558 --> 01:48:40,145
  7395. you saw things years before I did.
  7396.  
  7397. 1698
  7398. 01:48:41,647 --> 01:48:42,731
  7399. Even about myself,
  7400.  
  7401. 1699
  7402. 01:48:45,692 --> 01:48:47,110
  7403. five minutes after meeting me.
  7404.  
  7405. 1700
  7406. 01:49:16,056 --> 01:49:18,517
  7407. Committee calls Bernard S. Garrett
  7408. to testify.
  7409.  
  7410. 1701
  7411. 01:49:22,771 --> 01:49:25,107
  7412. Do you have his glasses?
  7413. He doesn't have his glasses.
  7414.  
  7415. 1702
  7416. 01:49:25,190 --> 01:49:26,358
  7417. He doesn't need 'em.
  7418.  
  7419. 1703
  7420. 01:49:26,859 --> 01:49:28,569
  7421. He's got to read his opening statement.
  7422.  
  7423. 1704
  7424. 01:49:29,069 --> 01:49:31,864
  7425. He doesn't need his glasses. He never has.
  7426.  
  7427. 1705
  7428. 01:49:34,449 --> 01:49:37,494
  7429. Mr. Garrett,
  7430. I think you understand the stakes.
  7431.  
  7432. 1706
  7433. 01:49:41,915 --> 01:49:43,250
  7434. We'll take your statement now.
  7435.  
  7436. 1707
  7437. 01:49:44,835 --> 01:49:45,919
  7438. Mr. Chairman.
  7439.  
  7440. 1708
  7441. 01:49:46,795 --> 01:49:51,675
  7442. Our nation's founding documents declare
  7443. that "all men are created equal"
  7444.  
  7445. 1709
  7446. 01:49:52,301 --> 01:49:54,052
  7447. and endeavor to create a society
  7448.  
  7449. 1710
  7450. 01:49:54,136 --> 01:49:57,264
  7451. where citizens receive
  7452. the equal protection of our laws.
  7453.  
  7454. 1711
  7455. 01:49:57,931 --> 01:49:59,057
  7456. It's a noble goal.
  7457.  
  7458. 1712
  7459. 01:50:00,058 --> 01:50:03,604
  7460. But we all know,
  7461. for many citizens it's a lie.
  7462.  
  7463. 1713
  7464. 01:50:05,814 --> 01:50:07,232
  7465. This hearing is supposed to be
  7466.  
  7467. 1714
  7468. 01:50:07,316 --> 01:50:12,863
  7469. about uncovering and reforming
  7470. unsafe banking practices.
  7471.  
  7472. 1715
  7473. 01:50:13,697 --> 01:50:14,907
  7474. But I think it's really about
  7475.  
  7476. 1716
  7477. 01:50:14,990 --> 01:50:19,912
  7478. how on earth did two black men
  7479. pull off owning a bank in Texas.
  7480.  
  7481. 1717
  7482. 01:50:19,995 --> 01:50:23,457
  7483. Mr. Garrett, I think you
  7484. should tread carefully now.
  7485.  
  7486. 1718
  7487. 01:50:25,083 --> 01:50:27,044
  7488. Well, I can talk at length about that.
  7489.  
  7490. 1719
  7491. 01:50:27,669 --> 01:50:30,839
  7492. Or I can sum it up with this.
  7493.  
  7494. 1720
  7495. 01:50:33,800 --> 01:50:34,800
  7496. The dress code.
  7497.  
  7498. 1721
  7499. 01:50:35,344 --> 01:50:37,137
  7500. Mr. Garrett, you are out of order, sir.
  7501.  
  7502. 1722
  7503. 01:50:37,221 --> 01:50:38,639
  7504. - I'm not finished.
  7505. - Out of order.
  7506.  
  7507. 1723
  7508. 01:50:38,722 --> 01:50:41,558
  7509. If you can't get a loan,
  7510. you can't own a home.
  7511.  
  7512. 1724
  7513. 01:50:41,642 --> 01:50:42,722
  7514. You can't start a business.
  7515.  
  7516. 1725
  7517. 01:50:42,768 --> 01:50:44,269
  7518. Mr. Garrett, you have been warned.
  7519.  
  7520. 1726
  7521. 01:50:44,353 --> 01:50:46,980
  7522. - Which means you can't build wealth.
  7523. - Mr. Garrett!
  7524.  
  7525. 1727
  7526. 01:50:47,064 --> 01:50:48,982
  7527. And you're excluded
  7528. from the American dream.
  7529.  
  7530. 1728
  7531. 01:50:49,066 --> 01:50:50,692
  7532. Sergeant-at-arms, remove the witness.
  7533.  
  7534. 1729
  7535. 01:50:50,776 --> 01:50:55,030
  7536. Why is it so important to you
  7537. to exclude an entire race of people
  7538.  
  7539. 1730
  7540. 01:50:55,113 --> 01:50:56,657
  7541. from the American dream?
  7542.  
  7543. 1731
  7544. 01:52:15,777 --> 01:52:17,654
  7545. Figures they'd let you out before me.
  7546.  
  7547. 1732
  7548. 01:52:17,738 --> 01:52:19,948
  7549. Man, they couldn't wait
  7550. to get rid of my ass.
  7551.  
  7552. 1733
  7553. 01:52:25,412 --> 01:52:26,622
  7554. Let's go home.
  7555.  
  7556. 1734
  7557. 01:52:28,498 --> 01:52:29,791
  7558. They took 'em all, remember?
  7559.  
  7560. 1735
  7561. 01:52:29,875 --> 01:52:31,126
  7562. Well, let's go somewhere.
  7563.  
  7564. 1736
  7565. 01:52:34,630 --> 01:52:36,048
  7566. What are you two laughing about?
  7567.  
  7568. 1737
  7569. 01:52:36,131 --> 01:52:37,382
  7570. They didn't take all of 'em.
  7571.  
  7572. 1738
  7573. 01:52:37,466 --> 01:52:40,219
  7574. They didn't know about the two
  7575. we bought next door to each other
  7576.  
  7577. 1739
  7578. 01:52:40,302 --> 01:52:41,303
  7579. in the Bahamas.
  7580.  
  7581. 1740
  7582. 01:52:41,386 --> 01:52:42,386
  7583. What?
  7584.  
  7585. 1741
  7586. 01:52:43,514 --> 01:52:44,973
  7587. Bernard, how did you do that?
  7588.  
  7589. 1742
  7590. 01:52:47,601 --> 01:52:49,978
  7591. <i>Matt called me
  7592. the night before he testified.</i>
  7593.  
  7594. 1743
  7595. 01:52:51,313 --> 01:52:52,606
  7596. <i>He was pretty broken up.</i>
  7597.  
  7598. 1744
  7599. 01:53:01,740 --> 01:53:02,741
  7600. <i>Hello?</i>
  7601.  
  7602. 1745
  7603. 01:53:03,367 --> 01:53:04,368
  7604. It's Matt.
  7605.  
  7606. 1746
  7607. 01:53:06,620 --> 01:53:07,621
  7608. Can we talk?
  7609.  
  7610. 1747
  7611. 01:53:08,872 --> 01:53:11,416
  7612. <i>He told me
  7613. he was facing 50 years in prison</i>
  7614.  
  7615. 1748
  7616. 01:53:11,500 --> 01:53:13,710
  7617. <i>if he didn't say
  7618. what they wanted him to say.</i>
  7619.  
  7620. 1749
  7621. 01:53:15,295 --> 01:53:17,297
  7622. <i>I told him to do what he had to do,</i>
  7623.  
  7624. 1750
  7625. 01:53:18,841 --> 01:53:21,552
  7626. <i>but since the government
  7627. hadn't taken all of our money yet,</i>
  7628.  
  7629. 1751
  7630. 01:53:25,639 --> 01:53:27,140
  7631. I asked him to do me a favor.
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