Margin Call

On an ordinary business day, Junior risk analyst Seth Bregman witnesses a shocking mass layoff initiated by a temporary HR team. Among those laid off is their boss, Eric Dale, who holds a crucial role in risk management operations.

During his exit interview, Eric Dale attempts to share vital information regarding an ongoing project with the HR staff. However, their focus is solely on expediting his departure, leaving Dale with no option but to discreetly hand a USB stick to Peter Sullivan.

Later that evening, Peter Sullivan examines the data on the USB stick. He discovers alarming information revealing that their mortgage-backed securities portfolio is poised for unprecedented volatility, raising significant alarm bells for the firm.

Realizing the gravity of the findings, Peter alerts Will Emerson, who promptly escalates the situation to floor head Sam Rogers. The urgency escalates as they decide to hold a series of emergency meetings with senior executives.

During the urgent meetings with senior executives, including Jared Cohen and Sarah Robertson, the team deliberates on how to mitigate the impending crisis. Jared suggests a swift sale of all toxic assets, which garners support from CEO John Tuld despite Sam's fierce opposition.

Sam warns the executives that offloading the risky assets could wreak havoc in the financial sector and damage crucial relationships with stakeholders. His concerns highlight the potential fallout from their imminent actions.

Amidst the turmoil, the team manages to track down Eric Dale, who has been unreachable since being terminated. They negotiate with him, promising a generous payout, while also threatening to contest his severance.

As the situation intensifies, it becomes clear that Sarah, Jared, and John were aware of the risks leading up to this crisis. Tuld plans to paint Sarah’s resignation as a scapegoat for their failing strategies.

As the market prepares to open, Sam calls upon his traders, promising them huge bonuses in return for a drastic reduction in toxic mortgage-backed securities through a 'fire sale.' He acknowledges the devastating impact this will have on their professional relationships.

In an empty office, Sarah and Dale find themselves under immense pressure but earn significant salaries despite their inaction. Sarah defensively claims she had warned about the risks that led to this crisis, albeit not forcefully enough.

As trading proceeds, tensions build among counter-parties who grow increasingly frustrated. Sam's aggressive trading strategies begin to take a toll, heightening the sense of urgency across the trading floor.

At the end of the trading day, Sam observes the same HR team initiating yet another round of layoffs within his department. This unsettling realization adds to the mounting pressures of the unfolding crisis.

Confronting John, Sam expresses his desire to resign, feeling overwhelmed by the situation. However, John downplays the crisis, comparing it to previous market downturns and persuading Sam to stay for the potential profits.

Meanwhile, Peter discusses his projected promotion with Jared, indicating an upward trajectory amidst the chaos. Seth, on the other hand, faces an uncertain future at the firm as the implications of the crisis loom large.

In a poignant concluding scene, Sam is shown burying his beloved dog on his ex-wife's lawn. This emotional moment serves as a stark reminder of the personal sacrifices amidst the relentless corporate turmoil.