Good work.
Reminds me of the scene in The Enforcer where Harry is assigned to test Inspector applicants. An applicant is told that the situation is unfolding just like in the above video, and is asked to play out what he would do. He totally screws up, repeatedly asking him to drop the knife, and telling him he's under arrest. Harry walks in and, forming a gun with his hand pointed at the knife wielding hostage holder, says "Bang!," as if blowing him away.
I can't find the clip on YouTube.