If there was one good thing about the
financial crisis of 2007/8, then it is the abundance of good cinema that has come in its wake. There have been a
number of financial thrillers that have been directly inspired by the events:
some of them gripping and insightful, like Margin
Call and Too Big To Fail, some of
them not so good, like Wall Street: Money
Never Sleeps and Arbitrage. There have also been some excellent
documentaries: Inside Job, Hank:
5 Years From The Brink, and The
Flaw. The Wolf Of Wall Street is definitely the best (black) comedy to be
inspired by the crisis and is probably one of the funniest films of the year.
The story follows the rise and fall of
Jordan Belfort (Leonardo DiCaprio) and his brokerage firm Stratton
Oakmont. Belfort is introduced as a
hungry new broker at the highly prestigious investment bank L.F. Rothschild
where he learns to cold-call rich clients and sell them stock. He loses his job in Black
Monday and gets a new job selling so-called ‘penny shares’ in backyard
small-businesses to working class people who think they can make easy
money. The respectable investment
bankers make 1% commission on every transaction but sales in penny shares earn
50% commission. This factor leads
Belfort to start his own company with a sycophantic, greedy crack-smoker called
Donny (Jonah Hill) and trade higher and higher volumes of high-commission
trades to vastly growing profits.
As Stratton Oakmont grows in size, the
exploits of its yuppie workers gets increasingly more outrageous as the drug
abuse spirals and more and more prostitutes and strippers get involved in the
office. Their reputation as aggressive
sellers in a bull market leads them to believe that they are invincible. Belfort is soon making so much money that he
gets married to his girlfriend Naomi (Margot Robbie) just to spend some
cash. Meanwhile an FBI agent called
Denham (Kyle Chandler) begins to investigate the company on suspicions of money
laundering and fraud.
Scorsese is one of America’s best
state-of-the-nation directors and he has once again managed to pinpoint
America’s fears and shine a light on them:
With Taxi Driver, the
spotlight was on the embarrassingly crime-ridden streets of New York; Casino was a metaphor for the underlying
violence of corporate greed told through the viewpoint of mobsters owning
casinos; the Wolf Of Wall Street has
come at a time where citizens are beginning to worry that the global economy is
recovering and the bankers that caused the crisis have gotten away with it.
The performances from the two lead
characters are perfect. Both DiCaprio
and Hill are hilarious as drugged-up superrich sociopaths constantly abusing Quaaludes,
Adderall, Xanax, Alcohol and copious amounts of Cocaine. Both of them combine Gordon Gekko, Patrick
Bateman and Hunter S. Thompson to create a beautiful mixture of arrogance and
narcissism (is it a coincidence that the words narcotic and narcissist are so
similar…?)
There is a brilliant line near the
middle where Donny is explaining to Jordan why he has woken up tied to his seat
on a plane: “You called the captain the
N-word…he was very upset. It’s a good
thing we were in first class.” This
throw away joke summed up for me the entire spirit of the narrative – as long
as you are a comfortable member of the elite, then the rules do not apply to
you. More evidence for this is the very
funny scene where Jordan drives his Ferrari whilst high…
And speaking of drugs, this is the
second film in two years that has had a comedy scene where cocaine is used
explicitly in order to help a character achieve something (Denzel Washington in
Flight sniffs loads of coke to sober
up before giving evidence at a judicial hearing, DiCaprio pours a bottle down
his nose in order to get the energy to stop Donny from choking) – surely this
alone speaks volumes about America’s changing attitude to drugs. The height of their addictions is clear when
Belfort demands a ‘lude’ when his life is threatened on his luxury yacht
screaming, “I will NOT die sober...!”
The one criticism of the direction of
the film is Scorsese’s decision to shy away from any complex financial
details. At one point DiCaprio is
talking directly to camera explaining what an IPO is before stopping himself
saying, “look, I know you’re not following what I’m saying anyway…” The only problem is that actually I was very interested in Initial Public
Options and how they are used to scam investors… that is insanely interesting
to me. This device happens a few times
and seems to deny the audience an insight into the mechanism and process of the
fraud. I know that Scorsese doesn’t want
to alienate the audience that are scared of economics, but for a three-hour
movie I was hoping for a little more depth to the numbers.
Overall the plot can be summarised in a
line that Belfort gives to his workers in one of his many rallying cries before
business begins: “I want you to deal
with your problems by becoming rich...”
Within that line there is a moral lesson that should have been learned
around the time of the financial crisis – yet The Wolf Of Wall Street plays to audiences’
fears that the “Masters of the Universe” still think likes wolves.
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