When Wags says, of Taylor, "Should I move their desk closer to the Bema?" he is referencing the ancient belief in the Bema Seat also known as the Judgment Seat of Christ where the sum total of a man's works will be judged. In this case Taylor's desk would be moved closer to Axe's office who is the final judge of the output of the traders and the analysts.
Lawrence Boyd says to Axe "This is Mark Felt in the parking garage. No Phone." Mark Felt was the associate director of the FBI who was later revealed to be the infamous "Deep Throat" source who helped guide Bob Woodward and Carl Bernstein in their investigation of the "Watergate" scandal that ultimately led to the resignation of President Nixon in 1974.
This marks the first (and not the last) time that an episode of Billions (2016) shares the same title as a U2 song that plays during the show.
When Bryan meets Taylor they talk about the scene from the movie The Firm when Ed Harris meets Tom Cruise. In "The Firm", Cruise's character Mitch McDeere's brother is played by David Strathairn. Strathairn is playing Jack Foley in this season of "Billions".
When Chuck (Paul Giamatti) is questioned by his new image consultant she questions him about a "code red situation" that happened when he was younger and in prep school. She asks him if he was the victim and not one of the aggressors.....she wants to know if he was Santiago and not Dawson. This is in reference to A Few Good Men (1992).