A game of financial cat and mouse.
Note: this is a spoiler-free advance review of the first episode of Billions, which premieres on Showtime on January 17 at 10pm EST.
Sometimes a great cast can make all the difference between enjoyable television and mediocrity. That very much describes the first episode of Billions, a new Showtime drama that explores a prolonged game of cat and mouse between a wily hedge fund tycoon (Homeland’s Damian Lewis) and a tenacious US Attorney (American Splendor’s Paul Giamatti). While the plot in this first episode is gripping enough, the show frequently betrays a lack of depth and an even bigger lack of subtlety. It’s the performances from Lewis, Giamatti and other key actors that elevate Billions into something worth keeping an eye on for the next several months.
Billions was co-created by financial journalist and Too Big to Fail author Andrew Ross Sorkin (alongside Brian Koppelman and David Levien), giving the show a certain verisimilitude when it comes to exploring the shadowy web of investment bankers and inside traders who drain their lifeblood from the stock market. Lewis’ Bobby “Axe” Axelrod is one such investor. This episode introduces him as a hotshot hedge fund manager and the only surviving partner of a firm that was decimated by the 9/11 attacks. His affable personality and numerous charitable works have made him a sort of modern day Robin Hood figure. Giamatti’s Chuck Rhoades is his polar opposite – grim, repressed and aggressively ethical – except for the fact that both men are hyper-masculine and practically allergic to the thought of losing.
That’s basically where the two men come into conflict in this first episode. Axelrod, against the advice of most of his inner circle, is determined to make a flamboyant purchase that might attract unwanted attention from the U.S. Attorney and the SEC. While this is good news for Rhoades and his office, it also runs the risk of besmirching his perfect record in prosecuting financial cases. Using that conflict as a building block, this first episode quickly and efficiently lays out the conflict that will drive the show for the rest of the season.
One of Billions’ stronger qualities is the fact that it offers a fairly evenhanded portrayal of both characters. It’s understood that not all of Axelrod’s financial dealings are strictly aboveboard, but there’s nothing blatantly villainous about his behavior. He comes across as a pretty decent guy, all things considered – generous with his wealth and loyal to his wife, children and friends. The anti-Jordan Belfort, in other words. Lewis brings a charismatic charm to the role that makes it immediately apparent how Axelrod could inspire others to follow him and morph a dying financial firm into a multi-billion dollar empire. Giamatti doesn’t stray far from the norm in his portrayal of Rhoades, but he fits the part like a glove. He’s intense and a little gruff, but very clearly a good, honorable man. This episode maintains a delicate balancing act as it bounces between Axelrod’s perspective and Rhoades’. The viewer will find themselves rooting for each character in turn. And luckily, the story never gets too bogged down in clunky financial chatter.
The third pillar of the show is Rhoades’ wife, Wendy (Mad Men’s Maggie Siff). As an employee of Axelrod’s hedge fund, she finds herself caught in the middle of their escalating feud. That comes across as a contrived plot element, but it still results in some interesting character drama as Wendy struggles with a desire for more professional fulfillment and the notion that her job could quickly development into a conflict of interest for her husband. Siff rivals Lewis as the most appealing part of the show in this early stage. Other major players include Bobby’s wife, Laura (Watchmen’s Malin Ackerman), and Rhoades right-hand man Bryan Connerty (Daredevil’s Toby Leonard Moore). While this first episode gives Ackerman little to do, Moore shines as he plays what’s essentially a more morally centered version of his character from Daredevil.
These strong performances don’t entirely make up for some of the show’s lesser qualities. It’s disappointing that, in this era of increasing anti-Wall Street sentiment and Sorkin’s own background, the show doesn’t have more to say about the relationship between the 1% and the rest of America. The focus rarely veers outside Axelrod, Rhoades and their immediate spheres of influence. The writing very earnest and straightforward, sometimes to the point of being self-serious.
And as mentioned, the show can be almost embarrassing in its lack of subtlety. Framing Axelrod as a 9/11 survivor comes across as a hokey and unnecessary attempt to make him more appealing and present him as an folk hero. The lack of subtlety is especially true whenever it comes to conveying the machismo driving both Axelrod and Rhoades to do what they do. One particularly clumsy scene shows Axelrod becoming visibly alarmed after seeing his dog recovering from being neutered. Multiple scenes deal with Rhoades’ unconventional sex life. While they do hit on the notion that this carefully composed and methodical man has to find some aspect of his life where he can forfeit control, these scenes mostly come across like an attempt to fill a quota for sexual content. Maybe there was a fear that Billions wouldn’t be Showtime-worthy otherwise?
With a lesser cast, Billions might be a fairly forgettable tale of financial dirty dealings. The plot in this first episode is entertaining, but the show doesn’t display much depth yet. But thanks to the likes of Damian Lewis, Paul Giamatti and Maggie Siff, Billions becomes a character drama worth watching.
