Industry Recap: Love and War

As a seasoned banker who’s seen my fair share of financial crises and corporate scandals, I must admit that this latest twist with Bill Adler has left me quite shaken. It’s a stark reminder that even the mighty can fall, and it’s a humbling experience indeed.

As we approach the midway mark of what seems to be Industry‘s final chapter, my emotions run deep. The Lumi saga has concluded, Harper now commands Leviathan Alpha, and the series appears to be subtly building towards its climax. With Charles Hanani still nowhere to be found, I find myself engrossed in unraveling this mystery. Yasmin, Harper, Robert, and Eric are all poised for their next big move, and I am more than ready to witness it. I stand as a spectator, resolute and undeterred!

This week’s episode delves into Robert, who finds himself in a precarious position due to Pierpoint’s actions. Following a mistake, Lumi is under investigation by the government, and Pierpoint needs someone to represent the bank – that person is Rob, who was taken by surprise. At times, I find Robert’s innocence frustrating. You’ve been in this game for so long, man! Why weren’t you more cautious? You didn’t take steps to secure yourself? You never asked Harper for advice on how to be self-centered? Pull yourself together, buddy!

I forgive him, though, because he looks A+ adorable in those Clark Kent glasses he wears to his deposition. I will be honest and say I did not care very much about the exact workings of this government inquest, but the broad strokes appear to be Lumi sold itself as a green company that would bring energy to underserved and low-income households. When Lumi went under, it was placed under emergency government control and bailed out by taxpayers for £2 billion. Perhaps worst of all, the low-income folks relying on Lumi for power were literally left out in the cold, with soaring energy bills that they couldn’t pay. The government inquest is looking to find who’s to blame for this situation. Is it Lumi’s inept CEO, Henry Muck? Is it the bank that fronted Lumi’s IPO and failed to do due diligence on the company? Is it the government itself?

During the investigation into Lumi’s failure, Robert will appear disappointed and incompetent due to his poor acting skills. Henry sees him as replaceable, while Pierpoint views him as incapable of taking responsibility. However, Aurore, a rising political figure in the U.K. government, steps in to help Robert. She admits that her team failed to properly examine Lumi during the investigation and takes the blame, even resigning from her cabinet position. The investigation was actually a strategic move by Aurore to boost her conservative image and gain public trust for future leadership roles. Robert, who is new to the wealthy elite, looks puzzled as he struggles to understand their ways, much like his earlier purchase of an expensive motorcycle, seen as a typical “new money” move.

In a more relaxed phrasing, it can be said that Henry and his team wind down the evening by commemorating their accomplishments. Following a dispute between Yasmin and Henry (details to follow), Robert ends up following Muck, tagging along on an introspective, mind-expanding journey with psychedelics.

I hate vomit. I hate when it happens to me, when it happens to strangers. I especially hate watching it on screen. It is a testament to this show that I soldiered through the psychedelic-induced vomit-thon that happened to Henry and Robert. The ayahuasca trip itself was not that interesting; there were lots of spliced-in scenes from season one, which mostly made me feel nostalgic for the baby bankers, and a motif of the trading floor being a sort of hell presided over by a demonic Eric. Henry’s trip is also not interesting enough to merit mention, though it does cause him to remark that they ought to monetize psychedelics and that there’s a monster in the mirror of the bathroom (him, duh).

The part of this entire event that stands out the most is the profound tranquility that Robert experiences upon returning home, even amidst the unexpected collapse of his kitchen ceiling. Amidst the relentless turmoil of Industry, there’s a serene atmosphere that envelops the scene, an exceptionality rare in such chaos. Following the grueling Lumi inquest and his harrowing psychedelic journey, Robert has found newfound clarity. I suspect he might decide to leave or at least seek something different after this experience. As I previously mentioned, Industry functions as a coming-of-age story. It seems we are witnessing Robert’s transformation from Pierpoint in real time.

In simpler terms, characters like Harper who have moved on from Pierpoint Bank are mentioned. Harper, joining Pierpoint as part of Leviathan Alpha, seems to be attending a charity meeting organized by Yasmin. However, while at Pierpoint, Harper picks up vital information about ESG funds from Sweet Pea in the restroom, hinting that she’s more intelligent than she appears. This knowledge causes Harper to cancel her meeting with Yasmin and return to Leviathan Alpha, where we might expect some form of questionable or illegal activities in the upcoming episode.

If you’re puzzled by Sweet Pea’s discussion, let me clarify it for you. Essentially, Pierpoint borrowed a large amount of senior secured debt, which is a type of loan that must be repaid before any other debts if the company goes bankrupt. In simpler terms, if another company purchased Pierpoint’s senior secured debt, they would be first in line to receive their money back before others with junior secured debt. Now, Pierpoint’s debt is approaching its due date, meaning they need to pay it off. However, their plan to repay that debt was based on bidding for everything related to the ESG transition (Environmental, Social, and Governance). You may remember that many IPOs (Initial Public Offerings) for ESG companies have stalled or are at risk of failure following the Lumi event. This means that Pierpoint doesn’t have enough funds to repay the companies they owe money to, which could potentially lead to Pierpoint going bankrupt itself.

What makes this matter significant? When Sweet Pea discusses it, Eric seems unconcerned as if it’s insignificant, cautioning her to be careful because the information she has might be illegal. However, when he later confronts Bill Adler, he discovers that Sweet Pea was right. Pierpoint is in deep trouble, which doesn’t particularly affect me, but it could lead to unemployment for Eric, Yasmin, Robert, and Rishi. Additionally, there’s the shocking revelation that Bill Adler has a malignant brain tumor. It’s surprising to be reminded that Bill Adler, who always appeared as a powerful figure capable of dramatic plot twists, is also a human being. Most significantly, he’s a person Eric knows well, having risen through the bank ranks together. Eric sheds tears, but it’s unclear whether he’s crying for Bill or his own predicament. This situation seems to be a significant turning point in Eric’s life.

All of this leaves us with one last person to cover: Yas. This episode opens with Yasmin peeing on Henry Muck in the shower, which had me crowing in disbelief. I’m telling you. The writers of Industry are GOING THERE. I’m sure Henry loves what’s going on, but for me, it just served to cement how kinky Yasmin can be (more power to her!) and also how needy Henry is (blech).

In the peaceful realm of Yas-land, trouble brews as Henry is accused of sexual harassment by an employee during an inquest. This revelation stuns Yas, who, perhaps due to their mutual naivety, shares a strong bond with Robert. At Henry’s post-inquest party, Yas confronts him about the allegations, only to be reassured by his professions of love. However, her anger boils over when a condescending DJ makes a distasteful comment, leading her to overturn a table in frustration. This incident reflects poorly on Yasmin, as she struggles to overlook harm inflicted upon the man she loves but can’t ignore being belittled herself. It seems that Yasmin has not progressed much from last season, where she chose to disregard Venetia’s allegations of Nicole’s assault.

At the end of the evening, Yasmin finds herself at home, seemingly lost in a puzzling moment of lucidity. She climbs into bed beside Robert in a tenderly non-romantic manner, evidently still nursing wounds from her split with Henry. Robert teases her playfully, suggesting she’ll marry her father, to which she retorts that such an arrangement is impossible, as she had unfortunately taken her father’s life.

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It seems as though all the threads of this long-standing mystery will be tied up in the upcoming episode, as we’ve seen all the clues leading up to it throughout this series.

Loose Change

Could someone clarify what costume Yasmin is meant to wear, as it seems she’s intended to portray a less glamorous version of Princess Diana?

Yasmin expressed her frustration to Robert by saying, “Why can’t you just fall for me? It would make things simpler,” but the issue is that Robert already loves her. The problem lies in the fact that she seems to only find value in a man based on his wealth or status, which Robert lacks.

Discussing Robert and finances, it’s quite touching to find out that his house was purchased using funds left to him by Clem, the Scottish banker from the initial season who supported Robert. Some might recall that Daria dismissed Clem, and we didn’t see him again after that. In the second season, Robert learns of Clem’s passing and inherits something from his will. It was always a mystery what this inheritance was, but now we know: it was money, making the revelation both sweet and bitter. It seems Clem considered Robert as a sort of adopted son. The scene where they measured Robert for his first proper suit in season one still tugs at my heartstrings.

2024-09-09 06:54

Industry Recap: Love and War

Loose Change

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