Using both hands, Zarek gingerly replaced the mitt on his shelf, repositioning it several times until it was just so. Satisfied, he turned his attention to his monitor, then spun it around so Astor could see. “We’ve lent you four hundred million.”
“All collateralized.”
“When the market moved against you, you were down the eighty million and then some.”
“It came back.”
“Today. What if it happens tomorrow?”
“It’s called leverage. You were okay with the position going in.”
“You left leverage behind when you jacked up your bet to twenty times what you put down. As it is, you’re shooting craps.”
“Actually, Brad, I’d like to borrow some more.”
Zarek blinked as if he hadn’t heard correctly. “We don’t allow customers to leverage up above twenty times.”
“I’d like another hundred million.”
“Another hundred million dollars? You’re serious?”
Astor nodded.
“Without additional collateral?”
“You heard me.”
“We were thinking more along the lines of your either increasing your collateral or cutting your position.”
“You don’t think I can cover it?”
“It doesn’t matter what I think, Bobby. It is what it is. There are rules. It’s not 2008 anymore.”
“How much more collateral are we talking about?”
“If you could just transfer a hundred million, we’d all be more comfortable.”
“A hundred million?”
Zarek nodded. “Just a hundred.”
“That’s all?”
“Cash, or just pledge some equities, if you’d like. We’ll make sure word gets out. Look at it as a vote of confidence. It will calm a lot of nerves.” Zarek leaned forward. There was no mistaking the gleam in his eye. It was the gleam a man gets when he’s about to shove a dagger into another man’s gut and give it a nice, vicious twist for good measure. “Within twenty-four hours.”
Astor shrugged complacently, as if he were on board with the suggestion. “Hey, Brad, tell you what.”
“Yeah, Bobby?”
“Fuck you.”
“Excuse me?”
Astor approached the desk. He had a gleam in his eye, too. It was the kind he got when he was fighting his corner. “What? You need a hearing aid to go along with the balls you’re missing? You guys make me sick. Offer me an umbrella when the sun’s shining and want it back when it starts to rain. Typical.” Astor rapped the desk with his knuckles. “What’s my track record?”
“Stellar, Bobby. No one is disputing that.”
“I asked you, what is my track record?”
“You’ve been up over eight percent ten years running.”
“And three of those years we were up over twenty. Right?”
“Right,” said Zarek, backpedaling furiously. “Look, Bobby, the bank wants to be in business with you.”
“Really? Because it sounds to me like you want to put me out of business.”
“Nothing could be further from the truth.”
“Then give me another hundred million.”
“Impossible,” said Zarek, shaking his head adamantly. “Not going to happen. Be reasonable.”
“All right, all right,” said Astor, hands raised in a calming gesture. “I hear you. Fair enough.” He returned to his chair, shot his cuffs, composed himself. “Tell you what. Because I respect you and I respect Standard Financial, I can do twenty-five million.”
“You want me to lose my job?” Zarek shuddered, as if physically repulsed by the offer. “I can make seventy-five work.”
Astor considered this. He nodded, his eyes narrowed as if it just might work. Then abruptly he shook his head, a man coming to his senses in the nick of time. “Twenty-five.”
“Sixty.”
“Forty.”
“Fifty.”
“By end of business today?”
“Done.”
Zarek extended a hand. Astor grabbed it and shook. “Deal.”
Astor left before Zarek could change his mind.
Outside, Astor called Marv Shank. “Transfer fifty to Standard Financial.”
“Out of petty cash?”
“Very funny.”
“I’ve got to check with finance and see if we have that kind of cash.”
“We’ve got it.”
“If we do, it won’t be by much.”
“Just do it.”
“You talk to our guy?”
“Not yet.”
“What are you waiting for?”
“Don’t want to abuse the privilege. I’ll ask if and when I think we’re in trouble.”