Posted on 09/29/2010 8:20:53 AM PDT by SeekAndFind
At a packed screening of Wall Street 2: Money Never Sleeps at the weekend, any thoughts of New York being a town chastened by the global financial meltdown of 2008 went out of the window.
For a start, the movie theatre was turning people away, it was so crowded (this, despite the film having endless problems getting a release date; the script was reportedly re-written umpteen times and producers were rumoured to be having dreadful trouble pleasing test audiences). The film opened at number 1 at the box office and made $19million despite less than enthusiastic reviews. “It’s somewhat unique to have a character that’s 22 years old to have such a great second act,” said Chris Anderson at 20th Century Fox of Gordon Gekko.
When Michael Douglas/Gekko, appeared, the audience cheered. Ditto Bud Fox, in a cameo by Charlie Sheen. The idea that the philosophy of “greed is good” destroyed our economy was not even a fleeting thought.
The fact is, Wall Street culture in New York never went away. And it never will as long as testosterone and ambition exist in this city.
Stone never intended Gekko to become an idol. He was genuinely flabbergasted that a generation of financial workers quoted Gekko’s every line, and adored the character. “[The film] succeeded brilliantly in capturing a culture,” wrote Michael Lewis in Vanity Fair earlier this year. “[It] failed miserably as a call for change. To the director’s dismay, thousands of financial hotshots dreamed of becoming Gordon Gekko.” Stone had wanted to expose the greed of the 80s and, while he captured the era perfectly, a new legion of young hungry New Yorkers baptised Gekko as their hero.
(Excerpt) Read more at blogs.telegraph.co.uk ...
I heard that this movie is trying to make a political statement. Apparently the plot involves Gordon Gekko, recently released from prison, trying to warn everyone that the financial meltdown of 2008 was about to happen. And Stone goes on to make big statements about that, as the movie takes place in 2008 when the meltdown happened.
It is funny that his intent in the original movie backfired, that Gordon Gekko became a hero to people rather than the villian Stone wanted him to be. That political statement backfired on him.
I can think of some liberal political statements in movies I wish had backfired.
“The fact is, Wall Street culture in New York never went away. And it never will as long as testosterone and ambition exist in this city.”
That’s like saying “Murder among young men never went away, and it never will, as long as testosterone and ambition rule this cohort.”
If this is truly the case, then that is why we have *enforcement of laws,* with certainty of consequences, on the involved parties. Plenty of innocent taxpayers, employees, homeowners and everyone else get crushed and even killed by letting these testosterone-addled, greedy egocentrics stomp around cities as if they were Godzilla.
Give the SEC some real teeth. These guys are going to wreck us all.
I won’t feed Stone with my money.
No one is saying “go to the movie.” I was commenting on the reviewer’s statement.
And I was just saying...Regardless, I won’t feed Stone. Nothing against what you’re saying at all.
The stock market is a slaughter house and the masses are the sheep.
I don't know about that. I look at my 401K, my IRA, and my personal retirement funds and see a pretty good return on my savings over the past 25 years. I'm pleased I didn't choose to stuff all that money into a mattress or an interest bearing savings account with my bank.
Good point, buy and hold still works if one can afford to sit on things. I’ve had similar results but was speaking of the “flash crash” etc.
The Stock market is like a big yard sale where the customers have to wear blindfolds and have to try and pick-up items with steak knives taped to their hands.
And all the while, the people running the yard sale are lying to you about what you’re stabbing, and telling you what a great bargain it is ... while their pals stand around pretending to be strangers, and reiterate the lies the owners are telling the potential buyers.
The market will face the same problems that social security face. Fewer people putting money in than taking money out. The last 25 years you had all the baby boomers doing what you did, compounding each others’ gains. Once retired, they deleverage risk and move towards cash and bonds to preserve capital. The big crash was one thing, but, it seems unlikely to me that the next 25 years will mirror the last 25 years.
My grandfather felt the same way after the depression. He never bought stock or put money into a bank again. He died a pauper.
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