1929 – The Shelby family have dispersed: Michael is living at Shelby Company headquarters in Detroit, while Aunt Polly is holed up with a pilot in Monte Carlo. But the family are quickly brought back together when news of the Wall Street Crash hits and its implications for the family business become clear.
Meanwhile, Tommy's political career is going from strength to strength; he gives a rousing speech in the House of Commons. It's not long, however, before ghosts from Tommy's past threaten to undermine his position.