WALL STREET: MONEY NEVER SLEEPS
US, 2010, 130 minutes, Colour.
Michael Douglas, Shia La Boef, Josh Brolin, Cary Mulligan, Eli Wallach, Susan Sarandon, Frank Langella.
Directed by Oliver Stone.
A welcome sequel.
23 years earlier, Michael Douglas’ Oscar-winning role as insider trader, Gordon Gecko, with his now immortalised motto, Greed is good, became on of the screen’s most famous icons. However, as the 1980s were drawing to a close, Stone’s film was in some ways prophetic and was released at the time of the Wall Street collapse of October 1987. It was strong stuff and a timely critique. This time, Stone does not have to be prophetic. The world shared in the financial collapse of 2008 and the American government had to bail out the banks, and banks were being bailed out – much to the public’s dismay and their being scandalised by the extravagant bonus culture that rewarded bosses who failed (let alone acted illegally).
This film, with its behind the scenes look at American banking, the go-getting personalities and their ruthlessness adapted for consumption by a wide cinema-going public is certainly not going to endear the bankers to anyone. And since the film was in production, Lehman Brothers bank collapsed and even Goldman Sachs is being investigated. Greed wasn’t good, but, as the newly released from jail and promoting his new book, a newly smoothly ageing Gordon Gecko reminds us, everybody indulged in that greed where they could. In the final credits, on an American banknote is the wry joking motto, ‘In greed we trust’.
So, Oliver Stone and his writers are socking it to them and to us – but, because the times are bad, there are many notes of warm humanity and more humble values which may strike some viewers as a bit sentimental for this kind of film.
Michael Douglas (looking ever more like his father as he ages) relishes the chance to be Gordon Gecko again, and the screenplay does not fail him. His Fordham lecture is well worth listening to, as is his advice (both straightforward and devious) to his intended son-in-law, Jake (Shia LaBoeuf?, who has moved from juvenile star (Holes) to teenage drama (Disturbia) to action hero (The Transformers) to good adult fare. But, despite the charm and the alleged repentance, can a Gecko change whatever it is that is natural to it? Yes, then no, then maybe!
Frank Langella gives credibility to the first part of the film, a banker of the old school who is dismayed by the upstarts and the machine controlled global finances. He is Jake’s mentor. Then, enter the principal villain for this sequel, a younger, unscrupulous speculator, Bretton James (Josh Brolin who was Oliver Stone’s George W). He is under the wing of a veteran who remembers the crash of 1929, a welcome role for 93 year old Eli Wallach. Things financial go from bad to worse as the Federal Reserve is brought in and even the Bush administration had to bail out the banks which seemed to justify that antichrist of American opinion, ‘socialism’ – which some did accuse George W Bush of in fact.
There is also a human story in Wall Street 2. Carey Mulligan (An Education) plays Gecko’s alienated daughter, Winnie, engaged to Jake who tries to reconcile her with her father. She is a director of a non-profit website, Frozen Truth, (Bretton James says he doesn’t understand ‘non-profit’) which reminds us of how influential sites are and how they can be a power for good (investigative expose articles) or source for unfounded rumours which become a reality that demand to be investigated and argued against.
There are some interesting sub-plots involving Susan Sarandon as Jake’s real estate agent mother, a glimpse of Sylvia Miles as another agent and Austin Pendleton as a physicist working on green-friendly research.
Make allowances for the human and nicer aspects of the film and enjoy the Wall Street side of it. It will make you rather self-satisfiedly indignant at those unscrupulous speculators – but the question remains what can be done, what is being done – and where are we headed?
1. Classic status of the original? The greed of the 80s? Wall Street and the 1987 collapse? Gordon Gecko and his motto as symbols?
2. Oliver Stone and his films: US critique, prophetic in the 80s, his perspective on the financial troubles of the 2008-2009 era?
3. New York City, the skyline, bright, alive, affluent, dinners and fundraisers? Wall Street and the Exchange floors, the environment? Apartments? A presumptuous world?
4. The music of David Byrne and Brian Eno, music and lyrics? Other musical themes?
5. The title and its implications, the US and the references to 1929, the 1980s, insider greed, fraud, the 21st century and speculation, speculation as evil, double dipping, profiteering, spreading rumours, destroying banks and reputations? The international repercussions? Money control via machines? Subprime loans, the Federal Reserve called in, investigations of banks and bankers?
6. The reality of Lehmann Brothers, Goldman Sachs in 2009 and 2010? The realism underlying the film? The response of the Bush administration? The Obama bailout? Facts? The accusations of socialism towards President Bush?
7. Audience response to Gordon Gecko? His being a hero to many young people of the 80s and 90s? Michael Douglas after twenty-three years? Gecko coming out of prison, his possessions, the big mobile phone, no-one to meet him? His making his own way again? Michael Douglas’s performances, Gordon Gecko as charismatic, writing his book, TV appearances and repartee, the lecture at Fordham, his analysis of US problems? His appeal?
8. Jake, young? An intelligent child, working with Louis Zabel, eager? His contact with Professor Masters, the idealism, the green research, getting money? Zabel and bonuses? His discussions with Zabel, his dismay at the collapse of the bank? His buying the ring for Winnie? In the bars, with his friends, financial talk? With Winnie, his life, her not wanting to look at her father on television? Winnie and her work, her idealism, Frozen Truth as a website, her not wanting to marry, accepting the ring – and later returning it because uncomfortable? The dinner with her father, her leaving? At the fundraiser, wanting to take the air? Gecko and his talking with her? The issue of her brother’s suicide, the drugs, Gecko wanting forgiveness?
9. The introduction of the Reserve Bank, Louis Zabel and the discussions, Bill Clark and his dreading of socialism? Bretton James and his hard line, Julie as his patron? Domination? Discussions in private? With Louis, the bartering his share prices?
10. Louis and Jake, the good days and the bad days, his walking the dog, the day with the paper, eating the chips, going under the train? Jake loyal, revenge, the motivation? The press reaction?
11. Wall Street 2008, the rumours, the counter-rumours, their effect, the way that they were spread, phone, Twitter, gossip?
12. Jake and Gordon, Jake introducing him self at Fordham, their meetings, the information, about Bretton James, about Locust Investments? Jake using the information, spreading the rumours?
13. The professor, the issue of fusion, his financial needs, the phone calls? Bretton and his putting it forth to the Chinese? Jake explaining, the Chinese response? Bretton and his manipulation, their refusal? Jake and his hope for the Swiss money from the account? Donations? Gordon at the end and his donation? Possibilities for such research?
14. Winnie, the past, her father in prison, her brother’s death, the money left to her, her not knowing the detail? In love with Jake, deciding to marry him, the ring? Her job, meeting Gordon, the failure, the eventual discussion, reconciliation?
15. Jake and Bretton, the rumours, Bretton and his taking Jake to task, the losses, Brettons’ boasting, the Goya painting (and his smashing it at the end)? Talk, patronising, the bike rivalry, the later race, Bretton saying Jake had the faster bike? His persuading Jake to work for him, Jake and his advice? The decision against him by the Chinese?
16. Gecko and trust, persuasion, Winnie, Jake and Winnie going to Zurich, signing the papers? Phoning the professor? Finding the empty apartment, Gordon having left, losing everything?
17. Gecko and Locust, the expose? Winnie and her article? The Reserve Bank calling the members in? The fear of socialism? Bretton and Julie, Julie as his mentor, washing his hands of Bretton? Bretton and ruin, the official investigation? His past and informing on Gecko – and the cycle complete?
18. Gecko to London, his old self, his office, style? Jake and the CD of Winnie’s pregnancy? Gordon refusing the deal?
19. The subplot of Jake’s mother, the houses, upmarket, wanting loans, wanting more loans, the difficulties of the times? Jake hard on her? Her returning to nursing?
20. Jake and Winnie, finding some peace, Gordon’s arrival – his having changed his perceptions somewhat?
21. The final credits, the images, ‘In Greed We Trust’ and cynicism about American finance?
