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Rogue Trader by James Dearden
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DVD detailsActor: Anna Friel, Betsy Brantley, Caroline Langrishe, Ewan McGregor, Yves Beneyton Director: James Dearden Brand: Buena Vista Home Video Writer: James Dearden Producer: Alan J. Wands Producer: Christopher Ball Producer: Claire Chapman Producer: David Frost Writer: Edward Whitley Writer: Nick Leeson DVD: Region Code 1 Audio: English (Unknown), Dolby Digital 2.0 Surround; English (Subtitled); English (Original Language), Dolby Digital 2.0 Surround Format: Anamorphic, Closed-captioned, Color, DVD, NTSC, Widescreen Picture Format: 1.85:1 Running Time: 101 minutes Published: 1999-12-01 DVD Release Date: 1999-12-14 Audience Rating: R (Restricted) Studio: Miramax
DVD Reviews of Rogue TraderDVD Review: Interesting Material. Bland and Shallow Presentation. Summary: 3 Stars
"Rogue Trader" is based on the book of the same name by Nick Leeson and journalist Edward Whitley, which covers the events that caused the insolvency and eventual sale of the venerable Barings Bank to ING for £1 in 1995. Leeson was the inept derivatives trader who lost over £200 million of Barings' money that ballooned to nearly £1 billion as Barings was forced to sell its positions. Like the book, the movie "Rogue Trader" tells the story from Leeson's perspective. Leeson (Ewan MacGregor) sorted out some problems with bearer bonds in Barings' Jakarta office and was rewarded with his own derivatives department in Singapore. He was supposed to be arbitraging Nikkei futures for client accounts. But he actually took huge long positions with the bank's money, which tanked when the Nikkei took a dive after the earthquake in Kobe, Japan.
Leeson used various fraudulent accounting practices to cover up his losses and string his positions along for a while. His superiors at Barings didn't ask questions as long as the profits looked good on paper. Leeson blamed them for the losses, accusing his aristocratic employers of being stupid and so embarrassed by their ignorance of modern finance that they didn't ask questions. So it's no surprise that the folks at Barings are presented as dolts in this film. It's unclear exactly how the filmmakers want to present Nick Leeson. He was, after all, one of the most incompetent traders ever -and one of the biggest crooks. People don't get much dumber. So I'm not sure it's wise to have Nick narrate the film or to take the perspective of his book, seeing as it is the perspective of an idiot and a criminal.
This could have been an interesting cautionary tale, but its perspective is too narrow and disingenuous. We spend an hour and a half watching a guy worry about his positions. Occasionally, a stuffed shirt at Barings interjects a half-hearted attempt to figure it out. The state of Nick's marriage and his emotions are irrelevant. There are more interesting things to say about why a reputable bank put itself in the hands of a narcissistic duffer with no prior derivatives experience. "Rogue Trader" needs a broader perspective. Banks do entrust fast-talking upstarts with too much money. They don't always understand the intricacies of the financial instruments they deal in. And low-risk methods of making money are simply inadequate. Hence, debacles like this one. But the story "Rogue Trader" presents is shallow and trivial. Anything meaningful must be read between the lines. English captions are available on the Miramax 1999 DVD.
More Rogue Trader reviews: 1 2 3 4 5 6 7
Description of Rogue TraderStudio: Buena Vista Home Video Release Date: 08/03/2004 Rating: R
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