Early in 2010, Paul Greengrass decided (or, perhaps, was compelled) to make a film about the war in Iraq. Green Zone showed the hunt for WMD, the strategic folly of disbanding the Iraqi army, and the impotence of those who were manipulated by warmongers. However, to do this, names were changed, Matt Damon was cast, and John Powell’s score was cranked up during exciting chase scenes. The effect was a damning dilution of whatever was being said in the first place, which was mostly accepted public knowledge beforehand, and the lingering unease that follows the brandishing of the weapons of the enemy by the liberal left (a moral hazard best left alone).
Following an identical model, Oliver Stone in Wall Street: Money Never Sleeps depicts recent factual, cataclysmic, and widely reported historical events – the 2008 near-collapse of the global financial system, ground zero being, appropriately enough, Ground Zero. Like Greengrass, Stone upends much of the value of his project by re-aligning the facts to follow a Hollywood template, here a family drama. Shia LaBeouf’s Wall Street trader is our guide through the turmoil – but even he gives his mother $30,000 he “doesn’t have” to bail-out her failing real estate business, thus proving himself to be part of the problem in more ways than one. Indeed, Stone’s awareness of the circularity and repeatability of frailty and disaster is a rare strength in this sequel.
The other assets are put brilliantly on display in the first hour, as the naturally metaphor-oriented writer-director demonstrates more visual flair than he has in fifteen years. The titular neighbourhood glistens and gleams as invisible information shoots from one anonymous trading floor to another and an audience has a struggle keeping up. Only after the first act does it become clear that we weren’t really meant to – the meat of the story is a marriage crisis. He is a trader, she runs a lefty website; but her dad is Gordon Gekko, who has turned over a new leaf but still orders his life as a serious of predatory trades.
Gekko, played with jewelled menace by Michael Douglas, is again the star of the show, as he was in the 1987 Wall Street. He has been in jail for the entire 1990s, released in the wake of 9/11 (he then bides his time for seven years, presumably writing his book, before his stage-managed, Edmond Dantès-like return). This chronology, eliding as it does Bill Clinton’s presidency, as well as the period between the cold and on terror wars, is intriguing, as though Gekko’s such as these have no choice but to hibernate during Democratic administrations. But for all his correct predications (there’s no bigger aid to a screenwriter than hindsight), Gekko curiously lurks at the edge of events, a bystander to the systemic problems, rather than the marble-solid manifestation of them that he was in the 1980s. There is mileage in this interpretation, but not validity, certainly not with the ending Stone has in store.
The touting of the funding of fusion reactor research seems a knee-jerk move towards clean technologies, but the explanation of this reveals a paradox: intense energy is concentrated on a miniscule point, which then detonates, the immense outpouring offering more energy than was put in. Of a piece with the frequent talk throughout the film of unsustainable bubbles and systemic problems, this suggests that all optimism is deluded. A hint of this cynicism can be detected in the otherwise cloying final moments, but this vibe seems bolted on to a Hollywood template rather than ingrained in the logic of the tale being told. The tale is classical, mythical, and the entire point of myth is to reassert the continuing nature of things, the stability and order of the world. What Wall Street and Wall Street could do without is any more myth.
Like Green Zone, too much faith is placed in a radical alternative within the media. The stinging irony of this is the thudding conservatism with which both that film and Money Never Sleeps proffer their depiction of historical occurrences, changing details enough to not be libellous, and facts enough to not be accused of dullness. These are not allegations that can be levelled at The Social Network, but then that story had something of a (systemic) happy ending, and is a far more deserving companion piece to Oliver Stone’s 1980s icon in its laser-sharp revelation of the absurd institutional dynamics of the moment.
Gordon Gekko was a bracing creation in 1987, but he was ahead of the curve, the Wall Street meltdown which occurred shortly following the release being credited with much of the box office success and legendary status of Wall Street. This re-tread is hopelessly behind the times, like a two-year old Sunday supplement. However, with strong brand recognition and a vigorous marketing campaign, the film did manage to make back its $70 million budget. It’s not only banks that are too big to fail.
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