Sequel to 1987 classic is a good bet

Gordon Gekko is an American icon. He has had an extraordinary impact on the American and international financial markets. Sure, he's a fictional character played to sleaze-perfection by Michael Douglas in Oliver Stone's 1987 hit, "Wall Street". But, there is little question that some who saw that classic Oscar-winning film were misguided into believing that Gekko's message about the necessity of greed in American capitalism was hallowed truth. Indeed, it is the present financial woes afflicting much of the world that has made "Wall Street: Money Never Sleep" even possible.

Stone, wisely does not try to recreate or match the original — he would fail — but, he does adequately shake a finger at the mindless risk of banks and investors, while tastefully observing a tested romance and returning to us the master of manipulation.

The film, which takes place during a very tumultuous 2008, focuses most of its screen time on Jake Moore (Shia LaBeouf), an ambitious young trader, who starts out at prestigious investment house, Keller Zabel. His mentor and boss, Louis Zabel (Frank Langella), is treading water as the victim of a false rumor about his company’s stability. As anyone in lower Manhattan knows, negative rumors lead to selling and selling leads to bankruptcy. Before Moore can grasp the reality of Zabel’s misfortune, the Federal Reserve refuses a bailout and Keller Zabel is bought for next to nothing by another investment firm. Embarrassed and ruined, Zabel wakes up one morning, heads to the subway and jumps in front of an oncoming train. Emotionally devastated, Jake wants revenge against the man responsible for the deadly rumor, billionaire trader Bretton James (Josh Brolin in a terrifically slimy performance). Fortunately, his fiancé, Winnie (Carey Mulligan) happens to be the daughter of Gordon Gekko (Michael Douglas), so payback runs in the family.

The character of Jake is all too familiar to fans of the original film, as his situation to “Wall Street” protagonist Bud Fox (who was played by Charlie Sheen) is uncanny. While LaBeouf is effective in the role — arguably more so than Sheen was as Fox — the unoriginal character development earns Stone a negative mark.

Another of the movie’s misses is the countless number of references to Lehman Brothers, Goldman Sachs and the greed of lower Manhattan. Most of the audience knows about the banks and understands the story’s underlying theme after 2 hours of the original film and just 20 minutes of this sequel. There is no need to repeat it like a broken record.

Poor choices in certain cinematic elements and visual metaphors do not help, either. Strange moments, like when the camera focuses in on a man in the background behind James near the end, serve no purpose. And the use of actual bubbles to represent the industry crises or skyscrapers as financial graphs with red arrows depicting the market’s rises and falls are not clever … just cheap.

What does work, alongside the solid story and inner struggles faced by Jake and eventually Gekko, are the performances. Not to be outdone by LeBeouf and Brolin, Mulligan once again proves her acting worth as a tortured fiancé and daughter, suffering at the hands of Wall Street. Acting veteran Langella gives a possibly award-worthy cameo as the aging and vulnerable Louis Zabel.

Knowledgeable viewers should also enjoy the many “inside” references and jokes to both the performers and the 1987 picture which are subtly placed throughout the film. For example, Jake’s ringtone is that of “The Good, The Bad, and The Ugly”. Look for the film’s connection to that 1966 classic.

Of course, this film belongs to Michael Douglas, who, like his character, is also an American icon. Douglas’s transformation into Gekko is awesome and eerie. Gekko’s evolution from 1987 to 2008 is significant. Eight years in prison and the loss of family seems to reveal his humanity. Douglas too, has changed and suffered in the last 20 years — his son is in prison for drug charges and he has recently been diagnosed with throat cancer. In the end, while Gordon Gekko’s redemption remains uncertain, Doulgas’ strength and brilliance serves as a sure thing.

[Originally published in the Truman Index on 9/30/10]