Topher GraceQuotes

Jim Wilkinson: They're blowing it up.

Neel Kaskhari: What happened?

Jim Wilkinson: McCain wanted to swoop in and save the day, but doesn't have any idea how to do it.

Neel Kashkari: It's a 100-page piece of legislation we've been carefully negotiating for days. What, did he think they were gonna sit around and spitball?

Jim Wilkinson: Yeah, when McCain got here and found out that the deal was basically done, he went apeshit. The Republicans fell in behind their guy. They wanna start all over again. Democrats flipped out. Republicans dug in.

Jim Wilkinson/Neel Kashkari: Clusterfuck.

Michele Davis: I hate to do this right now, but I'm going to have to have a press call first thing, and I really don't know what I'm going to tell them.

Neel Kashkari: Tell them Lehman exacerbated AIG. The simultaneous payouts of CDOs and credit default swaps put catastrophic pressure...

Henry Paulson: Go back further.

Neel Kashkari: The global pool of investment capital...

Henry Paulson: She has to do this in English! Start with the homeowners.

Jim Wilkinson: [clears throat; [w:mortgage-backed securities|mortgage-backed securities] Okay, okay, here's how you explain it. Wall Street started bundling home loans together - ] - and selling slices of those bundles to investors, and they were making big money. So they started pushing the lenders saying, "come on, we need more loans.

Henry Paulson: The lenders had already given loans to borrowers with good credit, so they go bottom-feeding, they lower their criteria.

Neel Kashkari: Before, you needed a credit score of 620 and a down payment of 20%; now they'll settle for 500, no money down.

Jim Wilkinson: And the buyer, the regular guy on the street assumes that the experts know what they're doing. He's saying to himself, "if the bank's willing to loan me money, I must be able to afford it." So he reaches for the American Dream, he buys that house.

Neel Kashkari: The banks knew securities based on shitbag mortgages were risky...

Henry Paulson: You'll work on "shitbag"...

Neel Kashkari: [[w:Credit default swap|Default swap] ...So to control their downside, the banks started buying a kind of insurance. If mortgages default, insurance company pays. ]. The banks insure their potential losses to move the risk off their books, so they can invest more, make more money.

Henry Paulson: And while a lot of companies insured their stuff, one was dumb enough to take on an almost unbelievable amount of risk.

Michele Davis: AIG.

Jim Wilkinson: And you'll work on "dumb.

Michele Davis: And when they ask me why they did that?

Jim Wilkinson: Fees!

Neel Kashkari: Hundreds of millions in fees.

Henry Paulson: AIG figures the housing market would just keep going up. But then the unexpected happens...

Jim Wilkinson: [[w:Subprime mortgage crisis|Housing prices go down] ].

Neel Kashkari: The poor bastard who bought his dream house? The teaser rate on his mortgage runs out, his payments go up, he defaults.

Henry Paulson: Mortgage-backed securities tank. AIG has to pay off the swaps. All of them. All over the world. At the same time.

Neel Kashkari: AIG can't pay. AIG goes under. Every bank they insure books massive losses on the same day. And then they all go under. It all comes down.

Michele Davis: [horrified; Wilkinson nods] The whole financial system? And what do I say when they ask me why it wasn't regulated?

Henry Paulson: No one wanted to. We were making too much money.

Jim Wilkinson: You'll work on, "we were making too much money.

Henry Paulson: Tim thinks we need to do something big. Ben agrees, and so do I.

Jim Wilkinson: What can we do? AIG's not even a bank.

Henry Paulson: The Fed can lend to non-banks under "unusual and exigent circumstances". We're thinking of taking over 80% of the company.

Jim Wilkinson: [[w:moral hazard|moral hazard] Hank, we can't! This morning we were lecturing the entire country on ].

Henry Paulson: AIG has collateral, they have assets, Lehman didn't. We couldn't lend into a hole, it's not the same story!

Jim Wilkinson: Nobody is going to care, it's another bailout! With no legislation, the Hill is gonna go crazy, the country is gonna go crazy-

Henry Paulson: [[w:too big to fail|too big to fail] The plane we flew in on this morning, leased from AIG. Construction downtown, AIG. Life insurance, 81 million policies, with a face value of $1.9 trillion. Billions of dollars in teachers pensions! It's everywhere! You want "]", here it is! You got a better idea, the suggestion box is wide open!

Jim Wilkinson: [[John McCain] (watching Paulson's conversation with ]) He's not... threatening the Republican Presidential nominee, is he?

Nancy Pelosi: (when Paulson kneels down in front of her) Hank, I didn't know you were Catholic.

Michele Davis: They almost bring down the U.S. economy as we know it, but we can't put restrictions on how they spend the $125 billion we're giving them because... they might not take it?

Timothy Geithner: I'm on the Street, Hank, and people are just going about their business. They have no idea the whole thing is about to fall down.

Congressman Barney Frank: (reviewing the first draft of TARP) It's all for the banks. You don't want a penny for the average Joe that's about to lose his house?

Pete Monash: [kisses Rosie] I love you, Rosie. I always have. If I've been a jerk this last week, it's because I've been fighting - I've been fighting for you. I don't want to lose you to Tad Hamilton, or anyone else. You're the one.

Pete Monash: [to Tad] Like do you know she has six smiles? One when something really makes her laugh. One when she's making plans. One when she is laughing out of politeness. One when she is uncomfortable. One when she is making fun of herself. And one when... she's talking about her friends.

Pete Monash: Tad Hamilton is an actor. How do you know he's not acting with you?

Pete Monash: I told you to guard your carnal treasure! You practically chucked it at him!

Pete Monash: [giving Rosalee some parting advice before her big date] Guard your carnal treasure.

Pete Monash: [summing up the "Win a Date" contest] Heaven is just a mouse click away.

Ron Stallworth: [answering a phone call from Duke] Mr. Duke, I'm so sorry we didn't get to spend more one-on-one time together.

David Duke: Well, that was a just a tragedy. I had just met those heroic brothers in the cause.

Flip Zimmerman: Heroic.

Ron Stallworth: Yeah. And the chapter is just shaken at the core.

David Duke: Oh.

Ron Stallworth: Yeah. And poor Connie, right? I mean, not only does she lose her husband, but...

Flip Zimmerman: Poor Connie.

Jimmy Creek: Connie's going away.

Flip Zimmerman: We feel bad for Connie.

Ron Stallworth: [continuing] ... she's looking at serious prison time.

David Duke: My God. And then there was that nigger detective. Basically...

Ron Stallworth: [to the other officers, trying not to laugh; to Duke] Shut the fuck up. Shut the fuck up. Shut up, shut up. Those goddamn coloreds they sure know how to spoil a celebration.

Jimmy Creek: [to Flip] Hey, you're getting me in trouble.

David Duke: [to Ron] Christ, you can say that again.

Ron Stallworth: Those goddamn coloreds sure know how to spoil a celebration. Can I ask you a question, sir?

David Duke: Shoot.

Ron Stallworth: That nigger detective, did you ever did you ever get his name?

David Duke: No. I don't think I...

Ron Stallworth: Are-uh you sure you don't know who he is? Are-uh you absolutely sure? Cause that nigga, coon, gator bait, spade, spook, Sambo, spear-chucking jungle bunny, Mississippi wind chime...

Flip Zimmerman: Wind chime?

Ron Stallworth: [continuing; Ron slams the phone back on the register as his coworkers laugh, high-five him, and pat him on the back.] ... detective is Ron Stallworth, you racist, peckerwood, redneck, inch worm, needle-dick motherfucker! I'll be here all week.

David Duke: [He turns off the radio.] Sorry, I'm sorry, let me just... Sorry, who am I talking to?

Ron Stallworth: This is Ron Stallworth calling from Colorado Springs, Colorado. How are you today, sir?

David Duke: Well, I'm quite well. Thank you, uh, what can I do you for?

Ron Stallworth: I-I desperately want to participate in my chapter's honorary events, but I can't until I receive my membership card.

David Duke: Of course, that's something I can help you with.

Ron Stallworth: Great. Um, who am I speaking with?

David Duke: This is David Duke.

Ron Stallworth: Did you just say your name was David Duke?

David Duke: The last time I checked.

Ron Stallworth: Grand Wizard of the Ku Klux Klan, that-that David Duke?

David Duke: Yes, that Grand Wizard and National Director, yeah.

Ron Stallworth: National Director too, huh?

David Duke: Yes, you're darn tootin'.

Ron Stallworth: It's amazing. I'm honored to be speaking to you, sir. I'm not afraid to say it. I consider you a true white American hero.

David Duke: Is there any other kind?

Ron Stallworth: No, sir.

David Duke: I'm happy to be talking to a true white American.

Ron Stallworth: Amen. It seems like there's less and less of us out there these days. Now, about that membership card...

David Duke: Yeah, Ron, I understand the situation, uh, we've had some administrative problems here, it's caused a little bit of a backlag. Tell you what, I'm gonna see to it personally that your membership card is processed, approved, and sent out today. How's that sound?

Ron Stallworth: Thank you, sir. I can't express to you how much this means to me.

David Duke: Ron, please, pleasure's all mine. I look forward to hopefully meeting you in person one day, and, uh...God bless White America.

Ron Stallworth: God bless White America, sir.

David Duke: Mhm, take care.

Ron Stallworth: [asking Flip to help take a photo of him with David and another Klansman] Can you take this picture of us, please?

Flip Zimmerman: All right, don't touch me.

Ron Stallworth: Great. All right, all right, thank you so much. Thank you. Here we go. One, two, three!

David Duke: Jesus H. Christ! What did you just do, boy? I mean, what the hell did you just do?

Ron Stallworth: Sir, if you lay a finger on me, I'll arrest your ass for assaulting a police officer. That's worth about five years in prison. Try me. See if I'm playing.

David Duke: Why don't you come down to Louisiana sometime? See how we play.

Flip Zimmerman: Boy, you better get your nigger ass out of here now.

Ron Stallworth: Mm-hmm, America first.

David Duke: America first.

Klansmen: America first. America first.

Waiter: Ain't this a bitch. If I would have known this was a Klan meeting, I wouldn't have taken this motherfucking gig. Goddamn.

Edwin: I guess now you realize why they chose me. I was right in front of you guys the whole time. Just watching you. Earning your trust. You couldn't see me for what I really am. You see, back home, I'm a murderer. I'm a freak. But here, among the monsters, I'm normal. I like it here. I wanna stay.