‘Is Greed Good?’ is the new more reflective mantra of Michael Douglas’ corporate monster Gordon Gekko who returns after 23 years for a sequel dissecting the Great Recession.
I’ve previously dubbed Wall Street the film that summed up the 1980s. Its sequel aspires to sum up what the hell just happened to the global economy and largely achieves it. The film opens with an amusing prologue in which Gekko is released from prison in 2001 before fast-forwarding to Wall Street during the early summer of 2008. A flashy dizzying climb up the skyscrapers of NYC after young trader Jacob (Shia LaBeouf) parks his motorbike is reminiscent of David Fincher at his most expansive and signals that Oliver Stone has got his directorial mojo working again. The early scenes of this film, especially a Federal Reserve emergency meeting, are wonderfully crisp and while it doesn’t fulfil that early promise this is undoubtedly Stone’s best film since Nixon. The sense that he’s rejuvenated by revisiting one of his greatest achievements is heightened by his use of David Byrne & Brian Eno, down to reprising at the end Wall Street‘s closing credits song ‘This Must Be The Place (Naive Melody)’ by Byrne’s band Talking Heads. Nostalgia also delivers an unexpected and great cameo, although on reflection it seems to reverse the message of Wall Street.
Jacob is our new Bud Fox. He receives an unexpected bonus-cheque from his mentor, Frank Langella in a wonderfully desperate performance, but fails to see the writing on the wall – Langella knows that his venerable investment bank is about to go under as a result of exposure to risky financial instruments that he didn’t really understand. This Lehman Brothers style collapse is connived at by his banking nemesis Bretton James, a wonderfully callous Josh Brolin, and leaves Jacob out for revenge. He is aided in his quest to hold Bretton accountable for the damage caused by his financial manoeuvrings by his prospective father-in-law Gekko. Gekko has returned to the limelight with his book ‘Is Greed Good?’ and has a history with Bretton. He would only have got a year for the insider trading Bud Fox implicated him in but Bretton sold him out on securities fraud and so he got sent down for eight years. This strand of the story is the film’s strong point with Gekko as prophet of doom, delivering a barnstorming lecture dissecting the credit crunch before it happens that is a devastating critique of modern high finance.
The emotional arc of Jacob becoming corrupted as he starts to work for Bretton even as he tries to get his fiancé Winnie Gekko (Carey Mulligan) to reconcile with her father, who she maintains cannot be trusted, is weaker. This is not the fault of Mulligan, who has one crackling scene of recriminations with Douglas over the death of her brother, but the over-extended screenplay. Wall Street: Money Never Sleeps is far too long and too cluttered compared to the straightforward morality play of the original. Stone maintains the importance of working at a real job producing tangible results, espoused by Martin Sheen in the original and here applied to Susan Sarandon as Jacob’s deluded mother – stung by the implosion of a real-estate bubble in Florida. Things all work out a bit too neatly here, but if a real job is defined by producing tangible results then Stone has produced an interesting companion piece that is well worth seeing.