The Conversation is the twelfth episode of the Season 1 of Billions. The episode was written by Brian Koppelman and David Levien and directed by Michael Cuesta.
Plot Summary[]
Axe learns that Chuck has new evidence against him that could land him in prison. As Lara makes plans for the Axelrod family to flee the country, Axe accuses Wendy of leaking the info to Chuck. A defiant Wendy realizes how far Chuck has gone in his pursuit of Axe and threatens to expose him. Having sacrificed so much to this case - including possibly his marriage - Chuck finds Axe for an explosive confrontation.
Plot[]
Bobby stands outside on a street corner as Wendy exits a store. She is surprised to see Axe standing there. He tells Wendy he made her assistant tell him her whereabouts. Axe makes it clear that they are still going to do their comp meeting to discuss her bonus, same as everyone else, but he feels indebted to her after their session last night. He gifts her a beautiful Maserati. Wendy is overjoyed and thanks Bobby, but Bobby says he should be the one thanking her. Bobby tells her he'll see her later. He won't be at the office as him and Wags are conducting a capital raise. Wendy wishes him good luck and tells Axe she knows he's ready, but that he should be prepared in case the people he's pitching too still aren't for the new and improved Axe.
Lonnie Watley returns to the Southern District and Chuck greets him happily. Before Lonnie can unpack, Chuck tells him about his next assignment. Lonnie is to investigate criminal behavior conducted by Bobby Axelrod. Lonnie is skeptical as the case is no longer theirs, but Chuck assures him these charges are different. He tells Lonnie to look for a "Mick Danzig" and to see if there is anything to suggest bribery occurred involving Axelrod. Chuck acquired this lead from Wendy's session notes, and now he intends to follow up on it. He tells Lonnie to clue Bryan and the rest of the team in when appropriate, but to leave himself out of it as he has recused himself. Lonnie tells Chuck he's on it.
Wags is frustrated he is playing the part of a pack mule, carrying an armful of binders to be used during the capital raise meetings while walking through the busy streets of NY. Bobby tells him it wouldn't look good if he, as head of Axe Capital, was seen lugging things around. At their first meeting, Axe pitches how his firm only produces profits, but the investors are nervous. They discuss how Axe's public image is all over the place right now and that he went from handling $10 billion in outside cash to $5 billion as a result, pretty much all of which is Axe's own money. They field numerous technical questions on how his firm operates, but Bobby makes clear his concern isn't about all those details. He tells them when he handles his own money, he is careful, but when he handles the money of others who put their trust in him, he is even more diligent and sharper about his decisions. The meeting ends in failure unfortunately when the investors question if Axe has the support of the investment fund Carter Staley yet, something he does not. Wags consoles Axe by saying these investors were lemmings, but Axe is still upset as this meeting was suppose to launch a domino effect of success for them as they continued to take other meetings.
Lonnie looks over duty rosters at the local police precinct nearby where Danzig lives. The police chief questions what he's up to, but Lonnie doesn't divulge. He has the appropriate warrants so he's free to peruse at his leisure who was on duty and at the scene of Mick Danzig's arrest. At his next meeting with investors, Bobby is questioned again if Carter Staley is on board, and Axe replies "not yet". This time the investors agree to provide Axe with funds almost immediately and no further discussion effort is made. They say they are happy to be the first to come aboard. As they exit, Wags and Axe go over how terrible things have gotten. When a pitch is that easy, they know its only for show. These investors do not intend to support Axe and merely took the meeting to have a story to share with others about how the "mighty Axelrod" came and begged them for aid. Axe tells Wags it is paramount that they close on Carter Staley before doing anything else.
Officer Salter, with his union rep, talk to Lonnie regarding the Mick Danzig arrest. There is a lot of hesitancy to reveal any information or admit wrongdoing, but Lonnie questions Salter on his recent trip to Vanuatu. Things get heated as Chuck watches from the other side of a one way mirror. Meanwhile, Axe decides he needs to change up his approach. The suit and tie make him look desperate, as if he is trying hard to impress them. He tells Wags to head back to Axe Capital with the binders. Bobby runs into an apparel store to dress down and fly solo.
At his next meeting, looking a lot more comfortable, Axe lays down the facts to the investors at Carter Staley. His fund has outperformed the S&P by 38.7% for 15 years in a row. He states he understands there is a perception problem right now given all the recent articles on Axe regarding 9/11, but he asks them if its worth the cost of a missed opportunity. Axe tells them that no one will remember or "give a shit" a year from now, but they are gonna be missing out on the gains he brings and kick themselves for it. They seem more comfortable revisiting this in a years time, but Axe tells him its now or never, as a year from now, he will not be taking their calls as he will remember they didn't come through for him now.
The meeting is a success and Axe returns triumphantly to Axe Capital to high-fives and applause for bringing in Carter Staley along with numerous other investments. Wags tells Bobby they are lucky the plan worked as the comp meetings to discuss everyone bonuses would've gone very poorly if they were running low on funds. Back at the offices, Lonnie addresses Bryan and the team on his findings. Axelrod bribed a pair of Greenwich cops regarding the arrest of Mike Danzig. Lonnie cites a trip one of these officers took to Vanuatu recently as a lead worth pursuing. Terri laughs saying that island is no vacation destination, and Bryan agrees, stating that its most likely where the payoff money was stashed as the island has lax banking laws. The officers aren't cooperating, but Lonnie says once they trace the money properly, the case will be open/shut for them. When questioned on how he came across this lead, Lonnie doesn't mention Chuck and instead says he had a hunch.
Axe is driving and is pulled over on the side of the road by Raul Gomez. He flashes a PBA card to avoid the ticket, but Raul tells him to put it away. Raul is the one that gave Bobby that card and this talk of theirs isn't about speeding. Raul tells Axe there are people asking questions regarding him bribing some cops to drop an automatic weapons charge. Bobby tells Raul he will give him a proper thank you at a later date, and is visibly nervous that this is coming back to bite him.
Orrin, Hall, and Axe discuss his risk if this investigation continues. Hall tells Axe they cannot trace the funds back to him easily as there were a lot of back channels, but if they put their focus on this, it will only be a matter of time. Orrin says Bobby is looking at doing serious time. This isn't just a matter of bad PR he says, but bribery of public officials charges, automatic weapons charges, etc. Orrin is confident that no judge will be lenient with Axe if this goes to trial. Axe thanks Orrin for his assistance, but asks him to leave so he can talk further with Hall. After Orrin leaves, Hall asks Axe how this happened when they were so careful. Axe admits he revealed this matter to Wendy in a recent session. Hall advises Axe to carry on with Wendy as if nothings changed and tells him he will monitor her. When Axe returns home, Lara greets him for dinner, but Axe tells her to walk with him. Axe stands far from the house, concerned there could possibly be a wiretap, but once he's a good distance away, he tells Lara she was right about Wendy. Lara tells Bobby she knew they couldn't trust her, but Bobby tells Lara to focus on carrying out their contingency plan. Lara and Bobby agree that its time to disappear.
Lonnie and Bryan report to Chuck that they have everything on Axe that they need. Chuck celebrates, but his celebratory words reveals something to Bryan, who starts to wonder if Chuck had a hand in this case. Meanwhile, Wendy visits Axe at his office and is jovial. She assumes its time for their comp meeting and continues to be friendly, but Axe can't stomach it and feels she is being two-faced. Bobby tells Wendy he wasn't gonna say anything, but seeing her play "dumb" has gotten under his skin. He accuses Wendy of selling him out. He tells her that immediately after he confessed in their private session to a crime, its all too convenient that Chuck and the FBI are on his tail about that very same matter now. Wendy is speechless, but Axe tells her that if he goes down, he will be taking her with him. He shows Wendy images of BDSM searches she's made online while at their offices and provides a photo of the two of them nude in a private bath. Wendy tells Axe she didn't sell him out, but he brings up again how else it could be possible that within 48 hours of discussing Mick Danzig, Chuck is using that matter to prosecute him. Wendy seems to have a realization at that moment, but chooses to leave the office without saying another word.
Lara discusses the particulars of their disappearing act with a "travel agent" who specializes in this type of work. When they discuss their new accommodations, she brings up school options, and is informed that she will have abundant choices. The agent asks her if she wants him to create passports for her children under different names, and Lara is taken aback. The agent discusses how some parents choose to do so to avoid the stigma of their old life following their children. Lara says they will be using their real names, but is visibly uncomfortable as the seriousness and reality of the situation is starting to dawn on her. The agent reads into it and informs her that while Bobby may have no other choice, she and her children are still free to make a different one, but Lara says that their family will be staying together.
Bryan interrupts Lonnie on his lunch break at his favorite burger joint. Bryan asks for particulars regarding how Lonnie was able to run such a case on Axelrod the moment he returned to the Southern District. Lonnie reads into this as Bryan wanting some of the glory of this arrest, something Lonnie is okay with, but Bryan tells him he knows Chuck fed him the information that got the ball rolling. Bryan warns Lonnie that Chuck is just using him as a shill and that this won't end well for him, but Lonnie decides not to heed his warning.
Chuck returns home to find Wendy waiting for him. She informs Chuck that she has sent the kids away so they can discuss a serious matter. Wendy tells Chuck she knows that he broke into her laptop and read her session notes. She accuses Chuck of stealing what he needed to make a case against Axe, but Chuck tells her he had no other choice. Wendy tells Chuck that we all have choices, but Chuck tells her he wouldn't do anything differently if given the opportunity again. She tells Chuck he can't justify what he's done, but he throws it back in her face saying that for all the good work she says she is doing, all of her patients are criminals with no intention of stopping their criminal behavior. Wendy informs Chuck that she knows what he did was illegal and will not lie on the witness stand regarding how this case against Axe was made. Chuck tells her they have spousal privilege and she cannot be compelled, but Wendy tells him, after what he's done to betray her trust, she plans on volunteering.
Chuck and Wendy continue to fight, and Chuck reveals he saw Wendy and Axe "cozy as teenagers sharing a cigarette after a backseat fuck". Wendy accuses him of spying on her, but Chuck says that Axe is driving them apart. Wendy gets tearful and says that Chuck is driving them apart by his actions, not Bobby. She believes their problem is the fact that Chuck won't walk away from this case even when he's had a million opportunities to. Chuck defends himself saying Axe is having people follow and spy on him, so he has to stoop to his level. Wendy questions where Chuck was being followed and why he felt Bobby was trying to trap him. Chuck takes a seat and admits that, after seeing Axe and Wendy together, he decided to see Troy, their dominatrix. Chuck says its only due to luck that the pictures taken there didn't end up on the front page of newspapers, but Wendy is furious that Chuck went to the BDSM club without her. Chuck tells her nothing happened though because Wendy, his mistress, wasn't there, but Wendy laughs, refusing to accept that as an excuse for his potential infidelity.
Chuck tells Wendy he feels cut off from her and is upset that she claims the moral high ground when she is part of a criminal enterprise but refuses to see it. Chuck accuses her of pretending to be blind to it all because it gives her status, wealth, etc. Wendy screams back that on top of that, it gives her honesty, which she states is lacking in their relationship now. Chuck swings the keys to her new Maserati in front of her face and asks her how she earned it. As Wendy stands silent, he tells her she earned it because she's right there in the middle of those criminals and asks her what that says of who she is. Wendy decides to leave for a walk and tells Chuck to pack his things and be gone before she returns.
Chuck is crashing in his office and is caught "tidying up" the mess he made sleeping when Bryan, Lonnie, and the rest of the team enter for their meeting. Despite how hastily it was all removed from them, they realize that Chuck has been kicked out of his own home. Lonnie reports that he has good news as their money trace has confirmed the officers have accounts there. Before he has a chance to continue, Chuck tells Lonnie that the case is terminated. Bryan smiles, realizing he was right, but the rest of the team is shocked and confused. Chuck ends the meeting and they all quietly leave Chuck to site alone in his office.
Axe enters his office at Axe Capital to start the workday but is shocked to see Wendy in his chair waiting for him. Wendy plays a video recording she took on her phone of Chuck admitting to breaking into her laptop to access her patient records on Axe. Bobby apologizes for ever doubting her and tells her everything he has that makes Wendy look bad, the internet search history, the picture of them at the bath, all of it will be destroyed. Wendy says it isn't enough, and Axe agrees. He increases her bonus from $2 million to $5 million dollars and wires it to her account immediately. Axe offers to triple the amount if Wendy gives him the recording of Chuck incriminating himself, but Wendy tells Axe that Chuck is still the father of her children and deletes the recording from her phone right in front of him. She quits on the spot, telling Axe she can't ignore her participation in their wrongdoing any longer. She knows that Axe Capital engages in illegal trades and other criminal conduct, but says she cannot condone or ignore it anymore. Bobby tries to talk, bus she has also decided she isn't comfortable around Bobby now that he has shown how easily he can destroy Wendy's career. Wendy packs up everything into the car Bobby gifted her, takes a long look at Axe Capital, and then drives away in her Maserati.
Chuck is looking for Bryan and questions Kate where he is, but she tells him he's already left the offices. Chuck tells Kate he suspects a mole is in their midst and he wants Kate to gather all the personal files of everyone working with them to figure out who is dirty. Back at the Axe residence, Lara is packing away duffel bags full of money in a safe room housing all sorts of wealth in the form of hard cash, gold bars, etc. Bobby arrives and tells her to stop as they no longer have to run. Lara is extremely relieved and Axe reveals that Wendy didn't betray them, but that Chuck decided to break into her things to get something on their family. He tells her that Wendy has quit and Lara says its a good thing as she has outlived her usefulness now that she can't be a "weather vane" for Chuck. Axe tells Lara that Wendy was more then that, but Lara tells him to drop the matter before she gets upset with him. She tells Axe that she'll return all the money they withdrew to the banks tomorrow, but Axe tells her not to. Axe says they should keep it here in the house, just in case something like this comes up again, but this only causes Lara to become concerned again.
Chuck demands to know what is going on regarding the Axe Capital wiretap from Dale. Dale looks at him confused as he has no idea what he is talking about, but Chuck tells him, after further banter, that they'll get it sorted out later. The conversation happens in front of the janitor that Hall hired to spy for him, something that Kate and Chuck deliberately wanted to do.
Following up on a call he received from Orrin Bach, Bryan decides to accept his old mentors offer to meet, and so he arrives at Capparello's Pizzeria. While Bryan enjoys a slice, Orrin informs him that Chuck got the information about Axe regarding the bribery because he broke into Wendy's session notes. Bryan is ashamed to hear that his hunch was correct out loud, but is then ambushed by Bobby Axelrod. Bryan is uncomfortable, but Orrin tells him to sit and hear Bobby out. Orrin leaves as Bobby takes a seat.
Axe tells Bryan that everyone talks about how Bryan is a younger version of Chuck, but he doesn't believe it will work out between them in the long run. He tells Bryan that they are both more alike then he is with Chuck. Bryan and Axe both came from nothing and know that failure means the end. Chuck though was born with a silver spoon and will never understand what matters to men like them. Bryan tells Axe that he is determined to go after men like him, but Axe points out that it hasn't gone so well for him while he's been working under Chuck. He tells Bryan its only a matter of time before he ends up apathetic and miserable because of his boss. He pitches to Bryan to instead come work for him under Orrin Bach. Bryan refuses the offer, but Axe says if Bryan was serious about being an enemy, then he'd have walked out of the room the moment he saw Bobby. Bryan thanks Axe for the pizza and leaves, but before he reaches the door, Axe notes to Bryan that he "didn't hear a no". Meantime, Chuck checks into a hotel. He attempts to get into contact with Wendy, but she sends the calls straight to voicemail.
Axe gets a call from Hall informing him that a source inside Chuck's offices has stated there is a wire somewhere in Axe Capital. He leaves in a panic for the offices. A cursory search of Axe Capital for a wiretap fails, so Axe approves Hall and his team to tear the place apart till they find the bug. After an exhaustive search, Hall concludes there is nothing left for them to check and its likely there was never a wiretap at all. Realizing he destroyed the appearance of his business for no reason, Axe sits defeated and Hall leaves. But Axe isn't alone for long as Chuck approaches Bobby to taunt him falling for his ruse. Chuck says Bobby should know they'd never acquired a warrant for the wiretap, but Bobby says following the legal route hasn't stopped Chuck before. Chuck provides Bobby the framed $1.9 billion dollar check that Axe tore up and the two start to verbally spar with one another. They both blame one another for losing Wendy, but Axe says it is Chuck who came after him and started all this, not the other way around. Chuck tells Bobby its his job to pursue criminals, but Bobby says nothing he's done is that bad. It is illegal, but none of the riches would have gone to better use in other peoples hands, especially not in the governments hands. Bobby retorts that he employs people and makes positive contributions to the world around him. He questions what Chuck has done that even comes close. Bobby denounces Chuck for only picking cases he can win yet talking of the moral high ground, and says that Chuck has it completely wrong in thinking he will win this fight against Bobby. Chuck closes by telling Bobby to keep the check because he will one day realize that the deal he gave Bobby earlier was the best he will ever get. Bobby tells Chuck its a mistake he didn't decide to cash the check and keep half because he will make sure Chuck has nothing when all is said and done. Before leaving Chuck tells Bobby that while he may have unlimited resources, Bobby should be more afraid of him as he now has nothing to lose.
Cast[]
Starring[]
- Paul Giamatti as Chuck Rhoades
- Damian Lewis as Bobby Axelrod
- Maggie Siff as Wendy Rhoades
- Malin Åkerman as Lara Axelrod
- Toby Leonard Moore as Bryan Connerty
- David Costabile as Mike Wagner
- Condola Rashad as Kate Sacker
Guest Starring[]
- Terry Kinney as Hall
- Ruben Santiago-Hudson as Raul Gomez
- Glenn Fleshler as Orrin Bach
- Susan Misner as Terri McCue
- Nathan Darrow as Mick Danzig
- Kelly AuCoin as Dollar Bill Stearn
- Frank Harts as Dale Christo
- Malachi Weir as Lonnie Watley
Co Starring[]
- Glenn Fitzgerald as Manager 3
- Arthur J. Nascarella as Bruno Capparelo
- Edward Baker-Duly as Travel Agent
- Orlagh Cassidy as Manager 2
- Mark Borkowski as Captain Harvey
- John Sanders as Manager 1
| v - e - dSeason 1 |
|---|
| Pilot • Naming Rights • YumTime • Short Squeeze • The Good Life • The Deal • The Punch • Boasts and Rails • Where the F*** is Donnie? • Quality of Life • Magical Thinking • The Conversation |