“Greed, for lack of a better word,
is Good.” These words, spoken by Michael Douglas's character Gordon
Gekko, are some of the most famous words of the 1980's. What's
amazing is that even now, when the quote has long since passed into
the realm of parody, Douglas manages to make it sound plausible when
you hear it in the context of the film. He delivers the line at a
stockholder's meeting, where he is trying to win over the other
stockholders for an important vote. He goes on to explain that
greed, whether for money, for love, or for life, is the force driving
mankind's advancements, and that it is the profit motive that will
allow them to cut out the excess fat at the company they all own and
turn it into a lean, successful business again. At this point in the
film, we know Gekko is sleazy, but his argument seems to have some
merit.
Later in the film, we see just how far
Gekko's dishonesty goes, and that his form of greed is only a
destructive force, not a creative one. As he explains to his
protege, Bud Fox (Charlie Sheen), “I don't create anything...I just
transfer wealth from others to myself.” Bud, a hungry,young broker
hoping to emulate Gekko, has placed himself in orbit around the great
man, helping Gekko engage in insider trading on a regular basis. In
exchange, Gekko makes Bud rich and hooks him up with Darien (Daryl
Hannah), the kind of high-class beauty that only rich men can afford.
When Gekko finally stoops lower than even Bud will go, Bud is forced
to choose between his fancy new life and his tattered conscience.
“Wall Street” has come to be
considered a defining film of the 1980's, but the movie is really
timeless. Michael Douglas and Charlie Sheen fit these roles
perfectly. Martin Sheen (as Bud's working-class father) and Hal
Holbrook (as a senior stockbroker) can be perhaps a bit preachy at
times, but they serve their purpose as representatives of
traditional, hard-working values in the face of Gekko's amoral,
short-cut-taking greed. The only weak link in the film is Daryl
Hannah, and I've read that Oliver Stone regretted casting her.
Apparently, she couldn't reconcile herself to her character's
amorality.
I'm always interested in why some
movies age so well. “Wall Street” is about guys who wear
slicked-back hair and dark suits all the time, a style which really
doesn't change much over the decades. In fact, the only time this
film looks dated at all is when Daryl Hannah rocks some big shoulder
pads. What really makes the film timeless, though, is it's theme of
greed and consequences. It's easy to see how this film plays well
now, in the receding wake of the 2008 financial meltdown, caused as
it was by the greed of Wall Street bankers. Audiences in 1987 had
their own reasons to despise fat cats, with the headlines full of
high unemployment, insider trading scandals, and failing Savings and
Loans. The truth is, it isn't in the American nature to be embittered
towards the rich. We are much more likely to want to emulate a rich
man than to begrudge him his wealth. Our respect for Capitalism,
however, is predicated on the image of a capitalist as someone who
invests money in a worthy enterprise, then profits when that
enterprise is successful. In this scenario, everyone wins, because
the growth of that enterprise expands the total wealth of society.
Guys like Gekko, though, make their living off of arbitrage and
speculation, which are zero-sum games. For Gekko to win, someone
else has to lose, and the total wealth is not increased. If a guy
like Gekko gets a tip that you are headed to the store to buy milk,
he'll swoop in ahead of you and buy up all the milk, then jack up the
price when you arrive. He would never stoop to actually milking a
cow. These Wall Street guys claim that their activities create
liquidity in capital markets and make our economy run more
efficiently. It seems, however, that the headlines of every era are
full of stories about these guys lying and manipulating until,
repeatedly, they manage to break the economy. That's why “Wall
Street” has aged so well. It's a tightly-woven story about this
form of greed, and there isn't a decade in the last century in which
this story wouldn't resonate.
4 stars out of 5