STORYLINE:
When a former Wall Street “wheeler-dealer” leaves Otis Federal Correctional Institution (prison) and returns to the scene of the crime, the Big Apple, he promptly begins to arrange a reconciliation with his estranged daughter, unexpectedly aided by and using her Wall Street hotshot boyfriend, after the fashion of a slick Miles Standish, to gain her consent. Although his pretext seemed to be that of a lonely, beaten-down father reaching out for his beloved daughter, there were 100 million reasons in Switzerland to be suspicious about his motivations. Indeed, he finds his daughter to be suspicious of his intentions, but, being betrothed and swelling, her youthful disdain for materialism mellows, and she follows the advice of the men in her life. Generations come to terms. Life will find a way. Place your bets; wolves on your mark; and sheep – protect yourself at all times.
PLOT DETAILS:
The film opened inside a prison where Gordon Gekko, being released after eight years, was receiving items stored for him at the time of his initial incarceration in upstate New York. Finally he was given a check for $1810, which he probably earned working in prison. He also was given a one-way ticket to New York City.
During this opening period a narrator talked about the Cambrian Explosion which witnessed the advent of many forms of life some of which were precedent stems of modern life-forms, such as humans. Evolution was apparently doing some quantum leaping.
The narrator continued: “Some say by chance; others say by design. Who knows?”
At this time the sung words “When the world was just beginning…” began, ending in the thematic “Home.”
From this edgy opening the camera cut to Winnie Gekko at her computer. She is a young “shlock star” in not-for-profit blogging, getting 200 thousand “hits” a day. She is progressive, green and committed, according to Brandeis University standards.
She leaves her computer and walks upstairs to a bed and gets in with her boyfriend. “Get up,” she demands obscurely. He whines “not yet.”
Her boyfriend was Jacob Moore. He worked at the investment house of Keller Zabel on Wall Street.
The television was on, and a “talking head” announced that her guest had spent 8 years in prison. Now he had written a tell-all book – and what a book! Then she asked her audience to welcome “Gordon Gekko.”
Winnie snapped to Jake, “Turn it off.” It’s the estrangement, doncha know?
The estrangement, viewers will learn, involved the death of her brother Rudy, as well as juvenile disdain for money obsession by Daddy.
There was a camera cut to Jake riding his cycle to work. When he got to his office in a Wall Street high-rise, things were getting tense. Keller Zabel’s stock price was taking a beating. At first Jacob Moore took the “long view,” supposing that Keller Zabel was still a fundamentally sound company. Sure, rumors were floating around Wall Street smearing Keller Zabel, but – so what? Everyone has enemies.
Jake visited with his revered mentor, Louis Zabel. Lou seemed equivocal, talking, however, as if modern investments were puzzling. He seemed to be almost dazed – shell-shocked by the pounding his company was receiving. They chatted. He did give Jake a bonus check for $1.45 million which was not due. Could their mentor-protégé relationship be a factor? Hmmnnnn! There was no indication that others were picking up bonus checks.
The camera cuts to Jake at Bulgari’s checking out diamond engagement rings. Lou had advised him to marry the Gekko daughter, settle down and have kids. It sounded like a plan to him.
The camera cuts to night life among upscale yuppies. Jake showed his engagement ring to pals. They kidded him. Gordon Gekko’s name came up, as he had been lately warning of a big crash in the mortgage-based market.
The camera cut to the following day at Keller Zabel, where the trading room was in turmoil as the stock dropped into single digits. Jake catches up with Lou in a city park, walking the dog. He blurts out, “15,000 jobs are on the line. Lou, are we going under?”
The detached, dazed Lou replied, “You’re asking the wrong question – who isn’t?”
The camera cut to a conference room at the Federal Reserve of New York, where Louis Zabel begged for more funds to see his company through the crisis. No way, Jose!
Bretton James, CEO at Churchill Schwartz, acted as a spokesman for the others, denying Keller Zabel any more money. However, Churchill Schwartz would buy Lou’s firm for $2/share. Humiliated, Lou asked for at least $6/share. Bretton made a final offer of $3/share. Lou was facing bankruptcy and liquidation of Keller Zabel or participating in a “fire sale” to Churchill Schwartz and the “vindictive” Bretton James. “You’re out, Lou. One way or another.” He accepted the latter option.
The next day Louis Zabel went to the subway, purchased a bag of potato chips, and as he waited for the subway train, he ate the bag of chips. When his chips were gone, he walked forward to the oncoming train and dropped himself in front.
The camera cut to Jake and Winnie in their apartment unit. The television reports that Louis Zabel committed suicide at the subway. Further, it reported that Keller Zabel had been purchased by Churchill Schwartz. Jake became teary-eyed.
Under the circumstances he had nowhere to go but the “altar” so he proposed to Winnie. She dithered a bit, and then agreed. “He told her, “I’m out of a job.” She replied, “Awesome.” Winnie didn’t like the Wall Street mindset anyway.
There was a cut to a lecture and book-selling gig featuring Gordon Gekko. Jake was in the audience with a few pals. Gordon regaled the gathered (mostly young & affluent) by observations such as “I once said that ‘Greed is good’; now it’s legal.”
After Gordon had concluded with his best piece of advice, “Buy my book,” he left the forum. Jake caught up with him, introduced himself, and announced that he was “going to marry your daughter.” They chatted.
“Sorry about Lou. Toughest man on the Street. Suicide is honorable.” More chatting. Gordon wanted Jake to arrange for him to see Winnie. Gordon told Jake, “Money’s not the prime asset; time is – and your time is up.”
The next day Jake began to investigate the Keller Zabel debacle. He learned of a Cayman Island company called the Locust Fund that had been selling short.
Further, the viewer learned that Jake had been involved in his role at Keller Zabel with the alternate energy firm, United Fusion, which was operating at the cutting edge of this form of energy production but was in need of lots of money – like $100 million.
On a revenge for Lou and Keller Zabel mission, Jake went after a little oil play in which Churchill Schwartz was involved. The company, Hydra Offshore, appeared to have some good oil property off the coast of Africa. Jake started the rumor that the dictator of the country which had a claim on the oil resource planned to nationalize Hydra Offshore. This started short-selling. Wall Street rumor-spreading generated broad short-selling, and Churchill Schwartz’s stock took an 8% plunge.
Bretton James and the other top officials at Churchill Schwartz analyzed the event, and they were able to zero in on Jake. At a gala fund-raiser he inquired of Jake, “Do you like to stain people?” Jake wasn’t timid about his reasons. He virtually accused Bretton James and Churchill Schwartz of causing Lou to commit suicide. Bretton denied guilt in the matter. As for the losses recorded due to the Hydra Offshore affair, he wasn’t too angry. “It’s not much money,” he observed. He liked what it showed about Jacob Moore. He offered him a job at Churchill Schwartz, running their “Alternate Energy” department, which would be their entry into this investment area. Jake accepted.
Meanwhile, he took Winnie out house-shopping on Long Island. His mother, Sylvia, guided them to some possibilities. She hits him with a request for money. She dabbles in real estate – who doesn’t? – and has been caught in a squeeze caused by mortgages and a tanking market. He helped. She wanted $200. By interpretation this viewer thought that she was talking about $200,000. At any rate she got a check. Maybe she knew about the $1.45 million her boy got from Keller Zabel. At one time she had been a nurse. Jake noted, “You helped people.”
People might wonder if that was a natural statement from “a Wall Street guy.”
The camera cut to a Gordon Gekko powwow. He was a tragic actor on the stage. “The best memory I know is hurt,” he proclaimed. He made a reference to the Bud Fox affair. But it was Bretton James whom he suspects of providing the Feds with crucial information that got him eight years in prison. This angle drew Jake and Gordon closer than had Jake’s engagement to the difficult child, Winnie. “A fisherman always sees another fisherman from afar,” noted Gordon to Jake.
During their powwows Gordon had shared some revealing aspects with Jake. He talked about the “tulip mania” in Holland [Rotterdam was and is an important Jewish financial center.] He alluded to Switzerland and an account there apparently controlled by him but also related to Winnie. He also referred to the Locust Fund, which was a mysterious investment account operating out of the Cayman Islands. His friends in Switzerland had suggested its connection to Bretton James.
The camera cut to Jake taking Winnie to a restaurant where they would meet Gordon Gekko. This meeting occurred. Winnie was a bit frosty. When the waiter arrived for orders, Gordon suggested Ginger Garlic Lobster, which had been a favorite of Winnie’s during better family times. However, this promising moment was burnt by an impulsive salute to a passing prominent-looking gent. “Same old Dad,” thought Winnie. “Money was always first.” She left, followed by Jake. She scolded Jake, “He’ll only hurt you.”
There was a meeting at Churchill Schwartz at which hotshot employees tried to interest Chinese investors in some likely stocks. A Bretton James’ female “ace” made a pitch for a solar energy company that had developed a super-thin solar film that promised big returns. The Chinese investors were leery of high-tech developments that would be superseded in a few years. They were curious about some new company that might be around a hundred years from now. Was this the influence of Warren Buffet? Were they looking for the next McDonald’s? Hard to say.
Bretton James leaped in with some chatter about “Babaco,” or some such.
Suddenly, a voice blurted out, “What about fusion?” It was Jake. He then gave a spiel in behalf of his pet company, United Fusion, whose lead scientist had told him of promising developments the pursuit of which required a prompt $100 million. The Chinese were respectful, but one noted that fusion energy research had been going on for quite a time without results. Perhaps a bottle of Johnny Walker Blue whiskey offered to the Chinese by Jake was the irresistible touch, or maybe the citation of a Chinese adage – in Chinese – by Jake (“Good things take time”) won the day, but later, Bretton James told Jake that the Chinese were interested.
At a red-carpeted, gala affair staged at a museum to raise funds for a “Conservancy” the viewers were treated to more swell people in posh surroundings. Bretton James was the nominal host. A somewhat intoxicated Gordon Gekko stopped by Bretton’s table and he quipped, “If they took this place out tonight, there’d be no one left to rule the world.” The camera had some fun capturing the “War of the Earrings” waged by 50% of the party-goers.
Gordon and Winnie stepped outside, and they talked about family, prison, Rudy’s death and Switzerland. Their relationship seemed to turn for the better.
Meanwhile, Jake was encouraging Doctor X at United Fusion that money would be sent – be patient.
The camera cut to a “Carnage on Wall Street” headline. Assorted images of media and trading floors cut rapidly before the viewer. It’s the worst real estate market in decades.
There was a high-level meeting of Treasury officials, Federal Reserve officials, and representatives of the biggest banks and investment houses. The G-Men were told by Bretton James that there would have to be a “bail-out” of the major banks. They wondered what Congress would say. James advised, “Scare ‘em.” The Treasury official looked at the man to James’ left and inquired, “Julie?” The antique financial legend opined, “1929…it’s going to be the end of the world.”
The camera cut to Jake in his lofty condo. It was late at night. The television was flashing gloom. Winnie joined him. He told her it could be the end of their dream. She told him it couldn’t be the end, “I’m pregnant.”
The camera cut to Jake grabbing a helicopter ride from the roof of his office building. He was flown to a wooded area where Bretton James awaited him. There were two motorcycles. “I thought we were going to meet in your office.” James replied, “This is my other office.” Both men were avid bike fans. Now they would see who was best. They raced along a 2-lane country road winding through the trees. Jake wins.
“I may have given you the faster bike,” said Bretton. He then broke the news that the funding by Churchill Schwartz would go to Babaco rather than United Fusion. Jake was angered. “You raided Keller Zabel. You killed Lou.” He accused Bretton of being a moral hazard. “Is that a threat?” demanded James. “You bet!” replied Jake. “Consider the bike your severance pay.”
The camera cut to Gordon Gekko. He informed Jake that Bretton started the rumors about Keller Zabel. Bretton sold Keller Zabel stock short, using his Locust Fund in the Cayman’s. Churchill Schwartz also sold the Keller Zabel stock short. Two year prior to the present crash, they began hedging the real estate balloon, while touting securities linked to real estate.
He also alluded to Winnie’s wealth. Gekko had set up an account in Switzerland, which he and Winnie mutually controlled. He suggested to Jake that he and Winnie “take a little trip to Switzerland.” Gekko stressed to Jake the legal hazard that this account represented to Winnie. He led Jake to believe that if he had Winnie sign the proper documents, then Gekko would see that United Fusion received the $100 million it needed. The funds would come from some discreet account.
They go to Switzerland, and Winnie signed the necessary documents at the Zurich bank. “We’ll have your father co-sign and wire the money to you,” they indicated.
Actually, the money never arrived, and the nervous scientist at United Fusion called Jake. Jake tried to assure him that it would show up soon in United Fusion’s account.
When it began to dawn on Jake that Gordon had pulled a fast one, he called the realtor, played by Sylvia Miles, to “get rid of everything.” This included his five-foot statue of Betty Boop.
His mother, Sylvia, dropped by to beg for money. He gave her a check for his last $30 thousand and told her he couldn’t give her any more. She was concerned about her mini-real estate empire. “It’s not enough!” “That’s all – that’s it!”
Jake went to Gordon’s pad. It was empty, save for a framed testimony to the folly of the tulip mania.
Jake and Winnie have a soul-searching talk about their relationship. She told him, “This is about you and me and we’re not good any more. We’re supposed to make each other feel safe…Go!”
The camera cut to Gordon Gekko lighting a cigar in his new office in London. “tell them that Gordon Gekko’s back.”
Jacob discovered his whereabouts and showed up at his office. “Every thief has an excuse,” he observed.
“When I got out of prison, guess who was waiting? No one!” said Gordon. “It’s not about the money; it’s about the game.” Thus, Gordon provided Jake the required excuse.
“Give back the principal,” demanded Jake. With that Jake showed him images of his grandson in the uterus, struggling to live and thrive. “This is time,” he says to Gordon.
“This is a deal I cannot make,” replied Gordon.
“You are a sad man,” replied Jacob.
The camera cut to Winnie at her computer, finishing a blog on fusion energy and her son which mentioned United Fusion favorably.
There was a camera cut to Jake, who was completing an “for your eyes only” document for Winnie. It was an expose of a Wall Street rip-off. There were included accusations of illegal trading by Bretton James, the Locust Fund, and Churchill Schwartz. It included the charge of running false rumors on Keller Zabel.
When Winnie and Jake meet so that he could give her the document, she accepted it, as he pitched it at her Achilles Heel. “I miss you.” “I miss you too.” (Hmmnnn!) Winnie blogged the data (with commentary) in her highly successful website.
This sparked a high-level meeting at Churchill Schwartz. Bretton James was accused of being greedy. “We all double-dip,” he pleaded. Bretton looked at Julie Steinhardt, and, noting his age, asked him to be the “fall guy.” Julie indicated contempt for the proposal. Then he made his signature “bird whistle with fluttery fingers.” It was like a death sentence for Bretton James.
Later, the camera catches the media frenzy as Bretton James was hounded by news people.
Meanwhile, Gordon Gekko met with the bigwigs (minus Bretton James) at Churchill Schwartz to discuss business together. Julie Steinhardt indicated the general approval of the top people by once again giving his somewhat enigmatic “bird twitter with fluttery fingers.” Churchill Schwartz and Gekko and Company would work together.
Bretton James was shown to be in trouble with the Feds who had a lot of questions that needed answering.
Jake told Winnie that Dr. X was grateful for her blog, which renewed interest. They glance deeply, meaningfully at one another. “I miss you.” “I miss you too.” “Good night.”
Suddenly, as they were about to part, Gordon Gekko’s voice was heard. “Where are you two going?” Having gained their attention, he told them “I deposited $100 million from an offshore account to the account of United Fusion.” He looked at Winnie and said, “Human beings – we have to give them a break. Maybe you will let me be a father again.”
Three sets of eyes searched one another.
A narrator again referenced the Cambrian Explosion and the bursting bubble of life that set things rolling.
The music and song, “Home” began.
As the credits roll, the scene of a first birthday on a balcony of a high-rise was shown. There were many people, celebrating “Lou’s first birthday,” including Jake, Winnie, Gordon and Sylvia.
The flick ends with soap bubbles from the playing children at the party rising high into the air.
COMMENTARY:
This film is basically a study of Jewish resilience in the face of life’s vicissitudes. It is not about right and wrong so much as generational continuity and “evolution.” Risks were taken, and sometimes they didn’t pay off. It is a world where suicide is commended as “a noble thing” in certain contexts. It is a world where – to preserve a fortune, jeopardizing one’s daughter’s reputation – indeed freedom – is worth the risk.
The movie does not specifically define Gordon Gekko as a “Jewish Wall Street operator.” At one point in the earlier film, WALL STREET, Gekko informed Bud Fox, “WASPs don’t like people; they like animals.” This statement may seem the work of a sage to some, but I viewed it as racist and religiously intolerant, since I viewed the comment as untrue. The comment did not mean automatically that Gekko was a Jew. However, overwhelmingly the primary “biggies” in the “Mergers and Acquisitions” arena were Jews [see DEN OF THIEVES, et al]. Clearly, in the 1987 film that was the area in which Gordon Gekko gained his reputation and his wealth. Throughout that film he was interested in the M & A arena. I don’t believe that he was modeled on Michael Milken, who was the Junk Bond King, but Gekko was surely meant to be a peer operator to Milken.
Jacob Moore does not have a specifically Jewish name, but he declared at one point that he was a “Wall Street guy.” He was a protégé of Lou Zabel, who was surely Jewish. Lou had reminded Jake that when Jake was first at Keller Zabel, he had “the hunger.” I could not help thinking about the David Bowie vampire film, THE HUNGER. The East European association of Jews and vampires in this respect was disquieting. His friend made a reference to “bar mitzvahs,” which in context would not be a term non-Jews would be likely to employ. Susan Sarandon’s portrayal of Sylvia Moore seemed almost stereotypically Jewish. Viewers might compare her to Sylvia Miles’ portrayal of a realtor, which was a reprise of her portrayal in the 1987 film and which lent continuity to the two WALL STREET films. In the 1987 film her character was a humorous scene-stealer and a classically Jewish operator. It was also interesting that Sarandon’s character had the same first name as Sylvia Miles.
Incidentally, Bretton James appeared to be the only non-Jew among the major characters. He was also the primary villain.
These were some of the reasons I formed my opinion of the religio-ethnic background of the key characters.
The writing in this movie is above average and sometimes very good, but good writing and well-reasoned writing are not the same.
The film looked “jazzy” with lots of cuts and angles of the Manhattan and Wall Street arenas. There were glamorous locales – restaurants and a museum gala – filled with well-heeled people. The fast crowd of people was seen in their mutually stalking mode. Large diamond rings flashed. At the museum fund-raising gala the women quietly engaged in an earring war.
However, wealth has attributes similar to mercury; it can slip through one’s fingers.
The Keller Zabel Investment firm was the fictionalized Bear Stearns investment house that went out of business. Around March 15, 2008 JPMorganChase & Company offered a “bail-out” of Bear Stearns at $2.00 per share at a meeting that included officials from the New York Federal Reserve. Later, the price was revised to $10/share. The name “Bear Stearns” ceased to exist except as Wall Street history. Survival of the fittest on Wall Street keeps the number of dominant predators in line. Once again, evolution assures us that “money will find a way.”
Incidentally, the Churchill Schwartz firm that bought Keller Zabel for $3/share in this film was a fictionalized blend of JPMorganChase & Company and Goldman Sachs Group, Inc.
There appeared to be some playfulness in the name of “Churchill Schwartz.” In real life Alan Schwartz had been CEO of Bear Stearns. Also, Winston Churchill appeared to be in desperate straits financially around 1929, and Bernard Baruch took him under his wing. No doubt, the future Prime Minister of Great Britain would be beholden to his friend(s) on Wall Street from that time period onward.
I thought that Louis Zabel’s behavior during the film’s first meeting between him and Jake unconvincingly plotted. He seemed to be “over his head” by the complexities of the newer investment schemes. That was difficult to believe of a founding member of his firm who was still active. Mortgaged-based derivatives were generally understood, so he well-knew the risks that were being taken for maximum gain. He was not a “victim” of the times; he was a victim of greed.
Further, the fact that he gave Jake an “out of time” bonus check of $1.45 million seemed to say “the end is near; you’re my protégé, take the money and run.” Frankly, this smelled foul.
Parenthetically, although Shia La Beouf gave a professional performance as Jake Moore, he looked like a boy among men. Frank Langella, Josh Brolin and Michael Douglas all seemed to tower over him. Even Carey Mulligan was about equal to him. His role as the connecting figure between Douglas, Mulligan and Brolin was not written and executed satisfactorily, so that he appeared to be mismatched, damp or reverential.
During a small number of intensely emotional moments, the viewer was forced to watch Carey Mulligan “struggle” to keep her composure. These moments were depicted by an assortment of spasms on and about her lips that were overlong and esthetically unacceptable. She appeared to be trying to create a unique style to be dubbed “The Mulligan Torment.” This critic calls for a “mulligan” so that she can swing for a better depiction.
Furthermore, she doesn’t resemble Michael Douglas’ character, Gordon Gekko, nor Sean Young, Douglas’ film wife, Kate. This was a casting error in my opinion. While her parents bore resemblances to barracudas, she looked more like a short-eared bunny. You almost expect her to “hop.”
Eli Wallach played Julie Steinhardt, who was a long-time bigwig at Churchill Schwartz. On two or three occasions he used a birdlike twittering sound – sort of a whistle, which was accompanied by fluttery finger movements. This signature communication was somewhat obscure. It might have been a dismissal gesture, as in “fly away.” Or it might have referenced rumors, as in “I heard it from a little birdie.” There was the possibility that it had no avian connection at all but referenced a musical instrument, such as “taps.” There may be more than one meaning. To Lou Zabel it meant “taps.” To Gordon Gekko it may have meant “Birds of a feather flock together.” It was curious to me.
Incidentally, Eli Wallach looked so antique that he might have walked into the board room at Churchill Schwartz from a break in the filming of The Mummy.
Gordon Gekko’s reference to a Swiss account was interesting. The pressure brought to bear on Switzerland by officials in the U.S.A. in regard to “secret accounts” seemed to have brought about an era of less-secret accounts. Tax dodging and criminally connected accounts impelled American Treasury and Justice Officials to increasingly demand that “books be open.” Threats were made on the Swiss officials. I personally believe that the reason this pressure was suddenly brought fruitfully to bear was the development of Israeli banking and the secrecy these banks afforded, which were more politically safe for offshore funds than Switzerland. No American politician would go up against the Zionist machinery that has been established in America.
Gekko mentioned that the account was mutually controlled by Winnie and him, but the fact that she knew little about the account other than it provided her with a nice income and believed it was a “trust” fund suggested that it was actually a Gekko dodge, while in prison. Now that he was out, he wanted that money, but he needed her signature to free it. Once signed, the $100 million vanished, and, almost simultaneously, Gekko had waxed rich, operating in London, England at his ancient and preferred occupation.
When Jake stated to Gordon, “This is time,” he indicated wisdom not yet reached by Gordon. Jake in fact touched on a main motif in the film – generational continuity. Whether rich or poor, the baton of life endlessly passed from generation to generation. The baton carried a duty: strive.
I believe that Lou Zabel’s suicide in this film could not have happened before he handed the baton ($1.45 million) to Jake, his institutional “son” in this film.
Parenthetically, at the museum gala in which Bud Fox briefly appeared and chatted with a somewhat hostile Gordon Gekko, one was struck by the aging to Charles Sheen that had occurred in the eight year period.
I did not think this version of WALL STREET was as “tight,” or focused, as the 1987 version, which was the best attempt to depict a Wall Street drama that I’ve seen. In this version there were three thematic lines that had to be handled: 1) the second coming of Gordon Gekko, 2) the romance between Jacob and Winnie, and 3) the reconciliation of Gordon and Winnie. The Wall Street Crash of 2008 served as the stage. I thought that the resolutions were a bit contrived, improbable and sentimental. The music helped cover the pancake.
PRODUCTION KEYS:
Oliver Stone – director, Allan Loeb/Stephen Schiff – writers, Craig Armstrong – original music, Rodrigo Prieto – cinematographer, David Brenner/Julie Monroe – film editing
CAST KEYS:
Michael Douglas (Gordon Gekko), Carey Mulligan (Winnie Gekko), Shia LaBeouf (Jake Moore), Frank Langella (Louis Zabel), Josh Brolin (Bretton James), Eli Wallach (Julie Steinhardt), Susan Sarandon (Sylvia Moore), Sylvia Miles (realtor), Nan Lu (Chinese Executive), John Bedford Lloyd (Treasury Secretary), Jason Clarke (New York Fed Chief), Charlie Sheen (Bud Fox), Oliver Stone (investor)

































