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Monday, December 6, 2010

The lesser of two evils - two films take a stab at Wall Street



A sequel is always harder to make than the original, especially when it comes 23 years after Oliver Stone's Oscar winner Wall Street (1987).  Wall Street – Money Never Sleeps (2010) is a second story of a young man seduced and betrayed by Gordon Gekko, which unfortunately lacks ambition and drive of the first film. The story begins dramatically with an investment bank collapse, after which the script slowly sinks into the mire of a morality tale. An idealistic next generation Gordon Gekko plans to marry the old man’s estranged daughter, while the old man retains his snakelike ability to shed old skin.  Despite Michael Douglas’ talent and Charlie Sheen’s cameo appearance, the performances are unconvincing, while events unfold too slowly to capture the fury of the 2008 financial crisis.


Charles Ferguson’s  Inside Job, on the other hand, chronicles the evolution of corruption and fraud on Wall Street with ease. Though spanning over decades, the film paints a clean picture of events, using a star studded cast of real financial officers and regulators. Most of the characters are amusing, but especially entertaining is Frederic Mishkin, who fails to explain his resignation from the Federal Reserve's Board of Governors to “revise a textbook” one month before the crash.  The documentary goes on to clarify the inexplicable concepts of deregulation, the housing bubble, mark to market accounting, and derivatives. As a result, the relationship between big banks and regulatory agencies is explained in detail that makes sense to ordinary people.

Out of the two films about Wall Street, the Inside Job gets more bang for its buck.

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