MITM Dark Knight Rises Airline flights that go wrong. Fist fights
that go wrong. And football games that go really REALLY wrong. I’m Peter Bielagus and
THIS is money in the movies. Hello and welcome to Money In The Movies,
a show where we review movies based on their financial accuracy. Today’s movie is The Dark
Knight Rises, directed by Chris Nolan and starring Christian Bale, Michael Kane, Ann
-PLEASE EAT A SANDWICH Hathaway, and Tom Hardy as the Bold Bald Baritone, Bane. BANE:
“I am necessary evil.” BTW way how does Bane eat breakfast with the
mask? How does he drink anything. You probably didn’t think about that huh? The film is the last of Chris Nolan’s trilogy
about the caped crusader who battles the steroid saturated Bane. Early in the film, Bane and his bad boy buddies
break into a stock exchange in Gotham City. Using Bruce Waynes fingerprint which was earlier
stolen by Anne-please eat a sandwich-Hathaway. ANNE
“I’m so terribly sorry Mr Wayne” Bane makes a disastrous stock trade in Bruce
Waynes name, FOX
“Seems you made a large number of put options on the futures exchange. Verified by thumb
print.” The board of directors of Wayne enterprises
basically calls these stock trades: Rich Guy:
“crazy gambling on futures” And sadly this act brings Bruce Wayne to financial
ruin Soooo for our purposes is this accurate? Could
someone highjack a stock exchange and buy a large number of risky investments using
someone else’s thumb print? That is the question we are going to answer today. The short answer is, when a stock exchange
comes under a terrorist attack typically the government shuts it down which is precisely
what happened during the terrorist attacks of 9/11. Going further back in history, on
July 31, 1914 the New York Stock Exchange also closed its doors as investors began to
sell in a panic at the outbreak of World War 1. The exchange also closed early on November
22, 1963 after the assassination of President Kennedy. So if someone did hijack a stock exchange,
to the effect that Bane does in the film, most likely it would shut down and all trading
would cease. But what if Bane had been more subtle. Like
what if he snuck someone in, with Bruce Wayne’s Fingerprints and quietly made the disastrous
trade. Would that have wiped Bruce Wayne out? The answer is no. There is something known
as a Clearly Erroneous Execution CEE or sometimes its called a Clearly Erroneous Transaction.
Either way it is both clearly and erroneous. This is when a person makes a stock trade
that is SOOOOO out of whack it cannot possibly be right. The stock exchanges have the right
to reverse such trades. On May 6, 2010 an event occurred known as
a flash crash. A flash crash happens when the stock market drops very fast but also
recovers very quickly. The flash crash of 2010 was the single largest one day drop in
stock market history. After the investigation of this stock market plummet, the stock exchanges
together canceled nearly 21,000 transactions as erroneous. In short when things get WAY too crazy the
stock exchanges put the brakes on. And at times it’s the government intervening and
saying okay let’s shut this down, take a breath and see why things are so crazy. And
if we think they are too crazy, we are voiding these transactions. Okay one more fun fact before we are done
with the Dark Knight rises. When I reviewed the first movie in this trilogy, batman begins,
I talked about when companies go “public” offering their stock to the world through
an IPO or Initial Public Offering. Which is what they did with Wayne Enterprises in the
first film. Well on Friday, March 23, 2012 there was a
company that began its IPO. But when the price of the stock plummeted, this company withdrew
its IPO and canceled all transactions that had already occurred. The Company was called
Better Alternative Trading Systems Global Markets Inc. Its nickname is BATS. Once again Batman fans I am sorry but I need
to give the dark knight rises 1 out of 3 dollar signs. Had Bane busted into the stock exchange,
surely the transactions would have been canceled as Clearly Erroneous Executions. I’m Peter
Bielagus and this is money in the movies.