Hailey Johnson
Matt Steiner is a fictional character in the 2020 film The Banker, which is based on the true story of two Black entrepreneurs, Bernard Garrett and Joe Morris, who navigated racial discrimination in the 1950s and 1960s. In the film, Garrett and Morris recruit Matt Steiner, a white man, to pose as the head of their business empire, while they pose as a janitor and chauffeur. As the story unfolds, the trio's success in real estate leads them to purchase banks in Texas to provide loans to the Black community. However, their scheme is eventually discovered, putting their entire enterprise at risk.
| Characteristics | Values |
|---|---|
| Name | Matt Steiner |
| Occupation | Renovation worker |
| Recruited by | Bernard Garrett and Joe Morris |
| Recruited to | Pose as the head of Garrett and Morris' business empire |
| Recruited because | He was a white man |
| Result | Garrett and Morris were able to purchase banks and provide loans to the black community |
| Outcome | Matt's lack of banking experience led to a federal investigation and the exposure of Garrett and Morris |
| Arrest | Matt, Bernard, and Joe were arrested for violating federal banking laws |
| Sentence | Matt took a plea deal and testified against Bernard and Joe, who served nine months in prison |
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What You'll Learn
Matt Steiner was a white stand-in for Bernard Garrett and Joe Morris
Matt Steiner was a fictional character in the 2020 film "The Banker", played by Nicholas Hoult. He was a white stand-in for the film's main characters, Bernard Garrett and Joe Morris, who were two of the first African-American bankers in the United States.
In the film, Garrett and Morris recruit Matt Steiner, a working-class white man, to pose as the head of their business empire. Garrett and Morris pose as a chauffeur and a janitor, respectively, to monitor their ventures under the radar. The two teach Matt the basics of real estate investing, and he is eventually put in charge of running their banks in Texas. Matt's role as a front man is crucial to the success of Garrett and Morris' business, as they are able to circumvent the racial limitations of the 1950s and provide loans to the black community.
However, Matt's lack of experience in banking eventually leads to trouble. He makes a series of mistakes due to his inexperience, which results in a government investigation. Matt, Bernard, and Joe are arrested and charged with violating federal banking laws. Facing a lengthy prison sentence, Matt accepts a plea deal and falsely testifies that he was duped by Bernard and Joe.
The character of Matt Steiner is based on the true story of Bernard Garrett and Joe Morris, who recruited white men to act as the "faces" of their company during a time of racial discrimination in the United States.
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He posed as the head of their business empire
In the 2020 film "The Banker", Matt Steiner (played by Nicholas Hoult) is recruited by two African-American entrepreneurs, Bernard Garrett and Joe Morris, to pose as the head of their business empire. Garrett and Morris, facing racial barriers in the business world, needed a white man to act as the face of their company to facilitate sales and acquisitions.
Steiner's initial role was to help them buy the Banker's Building in downtown Los Angeles, which housed the headquarters of most of the banks in the city. Garrett and Morris knew that by owning this building, they would gain a foothold in the industry and be able to monitor their ventures more closely. With Steiner as their front man, they successfully acquired the building, and from there, they went on to purchase numerous properties across Los Angeles.
Steiner's role expanded further when the trio ventured into banking. Garrett and Morris wanted to buy banks in Texas to provide loans to the black community, but they knew that doing so openly would raise suspicions. So, they once again turned to Steiner to act as the owner and face of these banks. However, Steiner's inexperience in banking soon got them into trouble. A racist bank executive discovered that they were giving loans to black people and threatened to expose them.
Fearing the consequences, Steiner, Garrett, and Morris decided to purchase a second bank, putting Steiner in charge despite his lack of experience. This decision ultimately led to their downfall as Steiner's carelessness resulted in numerous infractions. The three were arrested and faced federal charges for violating banking laws. While Garrett and Morris served time in prison, Steiner took a plea deal, falsely testifying that he was duped by the other two.
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Matt was a renovation worker for Bernard before being recruited
Matt Steiner was a renovation worker for Bernard Garrett before being recruited to pose as the head of Bernard and his business partner Joe Morris's business empire. In the 1950s, Bernard, an African-American businessman, wanted to get into real estate but encountered racism that prevented him from succeeding as a real estate investor. After a chance encounter with Joe, a wealthy club owner, he convinced Joe to be his co-investor. However, they knew that they needed a white man to be the "face" of their company to carry out deals successfully.
Matt, being a renovation worker for Bernard, was likely chosen for this role due to his existing relationship with Bernard and his ability to memorize information. Bernard and Joe spent time teaching Matt about real estate investing and the math of property and buildings. Matt's role as the front man was crucial to the success of their business, as it allowed them to secretly purchase properties and banks and provide loans to the black community.
Posing as the CEO, Matt oversaw the day-to-day operations of the businesses, while Bernard and Joe remained anonymous, often posing as chauffeurs and janitors to monitor their ventures. Matt's role as the face of the company worked, and they became extremely successful in Los Angeles real estate, acquiring numerous properties and banks. However, Matt's lack of banking experience later led to trouble, as a bank executive discovered that they were giving loans to black people and threatened them with exposure.
Despite the risks, Matt, driven by his wife's ambition for him to be an owner, persuaded his partners to purchase a second bank and put him in charge. Unfortunately, Matt's inexperience and carelessness led to numerous infractions, and they were all arrested for violating federal banking laws. Facing a lengthy prison sentence, Matt took a plea deal, falsely testifying that he was duped by Bernard and Joe. The story of Matt's recruitment and role in Bernard and Joe's business is portrayed in the 2020 film "The Banker", highlighting their efforts to combat racial inequality in the 1950s and 1960s.
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He was taught the basics of real estate investing
In the 2020 film "The Banker", Matt Steiner is taught the basics of real estate investing by Bernard Garrett and Joe Morris. Garrett and Morris are two of the first African-American bankers in the United States. They recruit Matt Steiner, a white man, to pose as the head of their business empire while they pose as a janitor and chauffeur.
Steiner's role is to be the "face" of the company, carrying out deals and overseeing day-to-day operations while Garrett and Morris remain anonymous. Before being recruited for this role, Steiner worked as a renovation worker and did repairs on Garrett and Morris's properties. The pair teach him about money and the math of property and buildings. They also spend a month teaching him how to golf, which helps him to fit in with the wealthy individuals he will be interacting with.
Steiner's role as the front man is crucial to the success of the business, as racism prevents Garrett and Morris from being successful real estate investors. By having a white man as their stand-in, they are able to make deals and purchases that would otherwise be impossible. With Steiner as their face, they are able to purchase a number of properties in Los Angeles and become extremely successful in the city's real estate market.
However, despite his training, Steiner's lack of banking experience eventually gets them into trouble. He makes a series of mistakes due to his inexperience, leading to a government investigation. The scheme is discovered, and the three are arrested for violating federal banking laws.
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Matt's lack of banking experience got them in trouble
Matt Steiner, a former banker who gained media attention for his unusual and aggressive behavior, had a lack of traditional banking experience that likely contributed to his downfall.
Steiner worked as a banker for UBS, a prominent Swiss financial institution, but his background was in engineering and mathematics. While he possessed strong quantitative skills, he lacked the practical knowledge and understanding of the banking industry that comes with experience. This deficiency led to a number of questionable decisions and actions during his tenure.
One of the main issues was Steiner's approach to client interactions. Without a deep understanding of banking protocols and regulations, he adopted a style that was often seen as aggressive and inappropriate. He would push products and services onto clients that may not have been in their best interests, and his lack of empathy in these situations caused concern among both clients and colleagues.
Steiner also made some questionable decisions regarding investments. His lack of experience may have led him to take on excessive risks, and he is rumored to have lost a significant amount of money for the bank. Without a seasoned understanding of market trends and a lack of practical knowledge of risk management, he made investment choices that more experienced bankers might have avoided.
Additionally, his engineering background may have contributed to a somewhat rigid and inflexible approach. Banking often requires adaptability and a nuanced understanding of people and markets, and Steiner's lack of experience in these areas likely hindered his ability to make sound judgments.
In conclusion, while Matt Steiner's unique background in engineering and mathematics may have offered some advantages, his lack of traditional banking experience ultimately played a significant role in his controversial tenure and eventual departure from the industry. His story serves as a reminder of the importance of practical knowledge and experience in making informed and appropriate decisions in any field.
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Frequently asked questions
Matt Steiner is a fictional character in the 2020 film "The Banker". He is portrayed by actor Nicholas Hoult.
Matt Steiner is recruited by African-American businessmen Bernard Garrett and Joe Morris to pose as the head of their business empire while they pose as a janitor and chauffeur. Matt's lack of banking experience gets them in trouble, and they are all arrested under federal banking laws. Matt takes a plea deal and falsely testifies that he was duped by Bernard and Joe.
Bernard Garrett and Joe Morris were sentenced to three years in prison for misapplying bank funds. They served nine months and later moved to the Bahamas.
It is not explicitly mentioned what happened to Matt Steiner after he testified. However, since he took the plea deal and testified against Bernard and Joe, he likely received a reduced sentence.
Yes, "The Banker" is based on a true story about Bernard Garrett and Joe Morris, who became successful in the 1950s and 1960s by finding workarounds to the racist business practices of the time. They recruited a white man, Matt Steiner, to be the face of their company.
