Comment by getpost

1 day ago

> "The point is, ladies and gentleman, that greed, for lack of a better word, is good." ... few people know that these words are based on an actual commencement speech delivered in 1986 at The speaker? Ivan Boesky, who would be convicted just eighteen months later in an insider trading scandal.

I did not know this! Thank you for posting!

> "The point is, ladies and gentleman, that greed, for lack of a better word, is good."

The whole paragraph from where that line is extracted:

> Teldar Paper, Mr. Cromwell, Teldar Paper has 33 different vice presidents each earning over 200 thousand dollars a year. Now, I have spent the last two months analyzing what all these guys do, and I still can't figure it out. One thing I do know is that our paper company lost 110 million dollars last year, and I'll bet that half of that was spent in all the paperwork going back and forth between all these vice presidents. [some chuckles from audience] The new law of evolution in corporate America seems to be survival of the unfittest. Well, in my book you either do it right or you get eliminated. In the last seven deals that I've been involved with, there were 2.5 million stockholders who have made a pretax profit of 12 billion dollars. [applause] Thank you. I am not a destroyer of companies. I am a liberator of them! The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much.

* https://www.imdb.com/title/tt0094291/quotes/?item=qt0393936

The text of the larger context of that paragraph is in the above link, or you can watch the entire scene:

* https://www.youtube.com/watch?v=OHnZi87272U

Further interesting facts gleaned from wikipedia;

Boesky was born to a Jewish family in Detroit. His family owned several delicatessens and taverns in the city. Although he lacked an undergraduate degree, he was admitted to Detroit College of Law (now Michigan State University College of Law) and graduated in 1965. In the 1980s, Boesky served as an adjunct professor at Columbia University's Graduate School of Business and at New York University's Graduate School of Business.

Time magazine ran a December 1, 1986, cover story about his "scam," dubbing him "Ivan the Terrible."[11]

Per a plea bargain, he received a prison sentence of 3+1⁄2 years and was fined US$100 million. Although he was released after serving only 20 months, he was permanently prohibited from working with securities. He served his sentence at Lompoc Federal Prison Camp near Vandenberg Air Force Base in California.

Boesky smoked Marlboro cigarettes and lived till 87 yrs.

Boesky was also featured in Titans The Rise of Wall Street on Amazon Prime

The whole character and his role in pop culture I find very frustrating.

The guy is the antagonist in the movie so you're not supposed to like him and he's written that way. He's a strawman and his whole speech is how the real version of him would sound filtered through the ears of someone who disagreed with him.

So you end up with people holding him up as an example that disagree and agree with him but the both of those groups are choosing the sides of a caricature that doesn't understand the point he's trying to make. It's weird.

  • It's the problem with most Oliver Stone movies, Scorsese movies, and many other directors: the premise of the film requires a charismatic antihero, and therefore the "bad guy" becomes cool and popular.

    The directors always try to avoid this criticism by saying, "Well he goes to jail in the end," but I think it's a bit of a cop out.

    I tend to agree with the idea that art should try to embody some moral values, which goes against a lot of contemporary thoughts on aesthetics. But I think it’s a basic fact that people look toward fictional characters as role models, directly or indirectly. Avoiding that responsibility is not good.

    • > I think it’s a basic fact that people look toward fictional characters as role models

      I think it's closer to "monkey see, monkey do".

      After the Fast and The Furious movies, young men would street race home from the movie.

      After watching the movie The Program, young men laid down in the street at night hoping not to get hit by traffic (copying the risky stunt the characters in the movie did).

      The art simply shows what is, not what should be.

      The Sopranos was interesting because it showed a mob boss doing the typical mob boss things (dodging FBI surveillance, dealing with rival crime families and street thugs, organizing new business ventures, burying evidence deep in the woods / dumping in the river). But it also showed a man with momma issues, with panic attacks, processing (well mostly rejecting) therapy, a wife who spends too much, a son as dumb as a box of rocks, etc. It wasn't the broad morality of western societies, but it was approachable because the character was eminently human.

      Similarly, Dexter was a serial murderer, but he had "a code" (to only murder other serial murderers). His code doesn't necessarily match up with the morals of you or I, but like any fiction, it allows you to suspect your disbelief and inhabit the moral choices / predicaments of the character for a few minutes / hours.

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    • > The directors always try to avoid this criticism by saying, "Well he goes to jail in the end," but I think it's a bit of a cop out

      I don’t know which directors you’re referring to, but I doubt you receieved such a simplistic response from Scorcese. Worth reading him in his own words on this, below is what he said regarding Jordan Belfort’s character in The Wolf of Wall Street,

      “That's something that I've always been attracted to and is interesting to me. Someone like Jordan or Jake Lamotta or Tommy, Joe Pesci’s character in Goodfellas, and people say well that type of person that sort but… I guess what that means is that they try to distance themselves from them. It's someone else it's not me but in actuality I feel it's not someone else, it's us. It's you and me and maybe if we'd been born under different circumstances, maybe we would have wound up making the same, exactly the same mistakes and choices and doing exactly the same things. I really think … when people say “that kind,” it’s not a matter of equalizing everyone and saying we're all responsible, I think it's a matter of facing and recognizing and acknowledging that part of us which is a part of our common humanity. And we have to deal with it.”

      “He [Jordan Belfort] thought that he could bypass morality or surpass morality with a combination of money and drugs. I don't know maybe he still does, I really don't know. There's another way of answering the question; he was different from Madoff and Skilling in that they weren't crashing helicopters or throwing little people (or maybe they were but if they did they kept it pretty quiet) but in that sense Jordan's experiences are more entertaining and that brings you closer to him because you look at these guys and think this seems to be a lot of fun. Well, it doesn't just look that way they really did have a lot of fun. In fact that's really all they could do is have fun and more fun and more on top of that, until it wasn't so much fun anymore. But what they couldn't do was just be. They just couldn't face that. So the challenge is to show that honestly without tipping the scales into judgment and taking you outside of the world these characters and the particular ways that they live their lives which was to obliterate all obstacles, all troubles, all difficulties, by taking more drugs, more money.”

      https://youtu.be/kTCyZoaORao

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    • I don't think it's exactly "bad guy looks cool and popular." Some people simply identify with villains in fiction. They see nothing wrong with what normal people see as villainous behavior. Without society's law and order, and/or with wealth/power of their own, they would themselves behave just as villainous.

      I'm convinced that a lot of people--probably even some of my own neighbors--wear a mask of civility only because we live in a society and have rules that are enforced. If the opportunity ever arrived and we entered some kind of Mad Max lawlessness, they would instantly start to murder and plunder just like barbarians out of fiction.

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    • It's okay for art to explore immoral topics, but it's generally not okay for creators and commentators to go, "Come to your own conclusions, wink wink." Have the respect for your viewers, and for your society, to be upfront about how your art is fraught; to say that you don't like the message or implications even if you felt compelled to explore some dark aspect of reality or society or psychology. Or, have the courage to say that you don't think it is fraught. But it's definitely irresponsible to unleash something transgressive on society and then try to wash your hands of it.

    • Over the last 10 minutes of Wall Street, the main character gets arrested, breaks down crying, gets punched in the face, and then goes to jail. The last scene has his father (driving the MC to jail) turn almost literally to the camera and tell the viewer which precise moral value he's being punished for not upholding. I don't know how much more embodied in the art the values could be.

      The problem is that you have to include people's self-justifications to tell a meaningful story. If Gordon Gekko were an uncharismatic sleazeball who tells everyone "I'm greedy because the misery of others pleases me, haha!", the film wouldn't work as a criticism of Wall Street, because real Wall Street tycoons are usually charismatic and don't say such things in public.

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    • was going to say, Hollywood knows exactly what it's doing with these "bad guys"

  • But is it the people who misunderstand the movie, or is it the movie which fails to make the point you think it should make?

    It is a classical hollywood trope to preset a “bad guy” protagonist as cool, charming, and resourceful and with a glamorous life.

    Hollywood know how to make you like a character and how to make you dislike one.

  • He’s just a much more interesting character than Charlie Sheen’s. Sheen is playing a kind of boring up-and-comer type character who doesn’t have much more to say apart from “gee I don’t know this insider trading and corruption stuff might be wrong”. Gordon Gekko is a charismatic and successful villain who has an ideology and set of values that he created himself, like the Neitzschean Ubermensch - the audience doesn’t agree with these values but he articulates them well, which makes him more intriguing.

  • Do you remember the context of that speech? He was presenting a takeover offer to the shareholders of a poorly run company with a bunch of useless execs with no skin in the game. He may be the villain of the movie, but not of that scene. https://www.youtube.com/watch?v=OHnZi87272U

    • He's still the villain. He sounds perfectly reasonable. His criticisms of Teldar paper are plausible. He makes a compelling case for greed, but by definition, greed is excessive, it cannot be good.

      His apparent reasonableness obscures the fact that he's appealing to the rapacious or covetous nature of the shareholders. He wants to override any moral objection to the fact that he's buying the company, in part, to strip the overfunded employee pensions, and by accepting his offer, shareholders get a cut. (IIRC, it's been decades since I saw the movie.)

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    • And yet, those useless execs are better for the company and for employees then him. Much better.

      Villans usually see themselves as heroes and everyone else as either stupid or sucker. That does not mean I have to adopt villans framing just because he looks charizmatic.

  • There's a disturbing number of people who watch movies like RoboCop and Starship Troopers and don't realize they are satire.

    I have a running joke with my closest friends that we are in a post-satire world because real news today is frequently indistinguishable from satire from 10-20 years ago. Sometimes The Onion headlines just bleed into the monotony of the news cycle, but it's not because they are any less satirical.

  • Two problems:

    1) Michael Douglas is extremely attractive and charismatic, so people like him even if they're not supposed to. Gekko seduces the viewer to the dark side like he seduced Bud Fox.

    2) The movie never shows Gekko in jail, so you never see the true consequences.

  • Gekko is the lead character and therefore the protagonist. Antagonists are faceless bureaucrats and later his mentee.

    The Corleone family is also who viewers identify with in The Godfather.

    Contrast with an Eastwood western, where he is the good guy or a guy better than the rest or at least with consistent morals.