(Dow Jones) The first "Wall Street" movie showed how much
trouble can result from embracing protagonist Gordon Gekko's maxim:
"Greed is good."
Now, 23 years later, the sequel is arriving, with Michael
Douglas reprising the Gekko role. Financial professionals are wondering
what new message "Wall Street: Money Never Sleeps," director Oliver
Stone's follow-up to his 1987 original, will deliver.
With the film set to premiere Friday, some financial
advisors and other industry folks shared their thoughts on the
cinematic Wall Street, then and now.
Blaine Aikin, president, fi360 (a company that
provides fiduciary tools and training), Bridgeville, Penn.: "I was a
broker when the first movie was released. I remember most vividly the
moment when Bud Fox (Charlie Sheen's character) crossed the boundaries
of law and ethics as he blurted out inside information to Gordon Gekko
in order to open the door to what Bud expected to be wealth and
recognition. Leading up to that point, I was uncomfortable with the
film's all-too-accurate portrayal of the pressure to generate sales
that I and my associates experienced as brokers--everything from how
the office manager's relationships with the brokers depended almost
entirely on production numbers to how office space was rearranged to
reflect a broker's sales success."
Beth D. Lynch, CFP, Schneider Downs Wealth
Management Advisors, Pittsburgh: "The first movie captured the
corruption, insider trading and market manipulation of the times. I was
wondering if or when the characters would get caught or how they would
get away with it. But at the time, I had no idea what I was going to do
when I grew up. If I remember correctly, I believe I wanted to go into
the Navy and fly F-16s--thanks to 'Top Gun.'"
Jonathan Marks, partner and CPA, Crowe Howath
LLP, New York: "I have watched the first movie about 50 times. But
other than the obvious Gordon Gekko quotes, what sticks in my mind is
what the wise, older broker Lou Mannheim (played by Hal Holbrook) has
to say: 'The main thing about money … is that it makes you do things
you don't want to do.' The first movie made me interested in learning
more about why people act that way and led me into forensic accounting.
I have learned that white-collar criminals know that people live on the
hope of a better financial future."
Bruce Fenton, managing director, Atlantic
Financial, Norwell, Mass.: "I'm embarrassed to admit it, but the first
movie did play a part in my decision to go into the industry--for the
lifestyle and the adventure of the game. I think most advisers over 35
who say otherwise are not being truthful. Hopefully, we've matured a
bit since then."
Dock David Treece, investment advisor, Treece
Investments, Toledo, Ohio: "I found Gordon Gekko to be very prophetic;
it has always been fascinating to me that a multi-trillion dollar
industry can exist wherein NOTHING is created; the whole system
revolves around the transfer of ownership and/or debt."
Richard Linowes, professor, American
University's Kogod School of Business, Washington, D.C.: "I hated the
first movie. It was a realistic portrayal of some aspects of the
business-—the trading floor, the trading dynamics, the facilities, the
dress—but it zeroed in on a few rats in the corner and largely ignored
the people of fine character in the business. The story concentrated on
bad apples and not the principled, honest people who are essential
players in our financial markets."
Michael Stepanski, associate, Financial
Advisors of Delaware Valley, Marlton, N.J.: "I remember the scene where
Bud Fox's father (played by Martin Sheen) calls out Gordon Gekko for
who he is. It struck a chord with me because it showed me that no
matter how much of a hotshot I thought I was, I didn't have the
experience or street smarts of my father, who is a hairdresser and very
much like Bud Fox's dad."
Andrew Stoltmann, investment fraud attorney,
Stoltmann Law Offices, Chicago: "The attitude in the original movie
showed the unbridled greed of Wall Street in a way that shocked many of
us. Unfortunately, the only thing that has changed between the release
of the two movies is nobody wears suspenders anymore."
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