Much has changed in the world of finance since Oliver Stone first explored its grubby innards in 1987’s Wall Street a film that netted Michael Douglas a Best Actor Oscar for his iconic portrayal of scheming corporate raider Gordon Gekko. Technological advances regulatory changes a terrorist attack a global economic meltdown and the emergence of China as a dominant player have combined to transform the securities industry in the two-plus decades since Gekko paraphrasing Ivan Boesky first captured its more sinister aspects in those famous words “Greed is good.”
What hasn’t changed is Stone who remains every bit as hubristic and heavy-handed as ever. With his sprawling spotty follow-up Wall Street: Money Never Sleeps he has once again taken it upon himself to put forth the definitive portrait of the culture of money and the film suffers badly for it. Set in 2008 in those halcyon days just prior to the subprime mortgage crisis and its subsequent leveling of financial landscape the film is told through the wide eyes of young Jake Moore (Shia LaBeouf) the 21st-century heir to Bud Fox’s mantle. (Charlie Sheen who portrayed Fox in the first film resurfaces in a fun but ultimately pointless cameo in the sequel.)
Jake we are told is a successful proprietary trader but his countenance more closely resembles that of a venture capitalist. (The risky practices and alleged conflicts of interests of prop traders are widely believed to be among the causes of the financial collapse; the Obama administration has recently proposed their ban.) Though he’s as profit-driven as any other young Wall Street turk he also boasts something of an idealistic streak and hopes to use his position at the prestigious investment banking firm of Keller Zabel to further the cause of a cutting-edge green energy startup. No doubt it’s this noble trait that appeals to his girlfriend Winnie (Carey Mulligan) a progressive pixie who runs a muckraking leftist blog and who also happens to be Gekko’s estranged daughter.
Jake’s bright future takes a dark turn when rumors of over-exposure to “toxic assets” swallow up first his company Keller Zabel and then its founder Lou (Frank Langella) who opts to retire beneath a speeding subway train after the Federal Reserve denies his request for an emergency bailout. Devastated by the suicide of his boss and mentor Jake vows to exact revenge upon the slithery brute he believes to be the source of the poisonous rumors: Bretton James (Josh Brolin) a prominent partner at Churchill Schwartz (read: Goldman Sachs) Keller’s chief rival.
And where exactly does Gordon Gekko figure in all of this? After the opening sequence during which he emerges from a lengthy prison stay to find no one waiting to greet him Gekko doesn’t re-enter the story until about the 30th minute and lurks mainly on its periphery for much of his screen time. In the years since his incarceration for the various misdeeds chronicled in the first film he’s rebranded himself as a sort of populist crusader against speculator avarice hawking a book about the ills of the financial system entitled Is Greed Good? (“You’re all pretty much fucked ” he instructs a lecture audience.) Gekko’s got a grudge of his own against Bretton his one-time protege turned state’s witness in his securities fraud conviction and he agrees to supply Jake with crucial insider info in exchange for help in brokering a reconciliation with his daughter Winnie.
All of this is set against a backdrop of the collapses and bailouts of the 2008 financial tumult — a topic that could easily warrant its own film. (Indeed HBO is currently readying its adaptation of Aaron Ross Sorkin’s book about the crisis.) His ambition outstripping his ability Stone labors awkwardly to integrate the macro of the crisis with its many backroom deals and soap-opera intrigues and the micro of Jake’s increasingly complex relationship with Gekko. Mulligan’s character meant to serve as the film’s emotional anchor as well as its conscience is ultimately little more than a distraction diverting us from the story’s more compelling elements. The last third of the film which focuses on Gekko’s reemergence as a Wall Street player feels tacked-on as if driven by data from test audiences dissatisfied with his relatively minor presence in the early goings.
There are moments in Money Never Sleeps where Stone successfully invokes the heady verve of the 1987 film but for a story dealing with such titillating subject matter its pace too often drags to a near-halt as it wallows excessively in Gekko family melodrama. (The performances it should be noted are all terrific though LaBeouf is an exceedingly tough sell as a would-be BSD.) And a topic as sexy as money should never ever be boring.
Based on the bestseller by Nicolas Sparks the film begins with Duke (James Garner) and Allie (Gena Rowlands) an inseparable couple living in a nursing home. While Duke remembers their life together Allie who suffers from progressive dementia does not. Their only bond is a faded notebook from which Duke reads to Allie every day telling her the same story over and over. It's a sweeping tale of two South Carolina teens country boy Noah (Ryan Gosling) and city gal Allie (Rachel McAdams) who spend one glorious summer in the early 1940s falling madly in love. Unfortunately the couple is soon separated first by her disapproving parents and then by World War II but after seven years apart after taking different paths they are passionately reunited. There's a catch though; Allie is now faced to choose between the man she once loved and the successful businessman (James Marsden) she is engaged to. It's really no surprise who the young Allie chooses in the end--but for Duke the only thing that keeps him going is the fact that every day somehow through the power of this story the mentally impaired Allie miraculously remembers their love if only for a very brief moment before slipping back into oblivion. Tears being jerked from your eyes yet?
The talented cast certainly elevates The Notebook's romantic drudgery. McAdams takes a departure from all the Mean Girls she's played lately (including The Hot Chick) and easily wins you over as the spirited young Allie while the usually intense Gosling also tackles something lighter so to speak than his previous darker roles such as his Jewish-turned-American Nazi leader in The Believer. While infusing a certain sense of brooding and melancholy into Noah especially in the years he spends pining for Allie Gosling manages to exude Noah's genuine warmth and sensitivity as well. And between the two of them real sparks fly as the actors paint a fresh and inviting picture of young love that stands the test of time. Marsden is completely wasted however as Allie's fiancé Lon a upstanding Southern gentleman Allie's parents expect her to marry who offers little as to why Allie should stay with him. As the older contingency veterans Garner and Rowlands who take the sappiest material and turn it into something meaningful inspire some truly heart-ripping moments as the aging couple holding onto their love as tight as they can. In the supporting cast Joan Allen has some shining moments as Allie's uptight mother with a secret of her own.
In bringing the popular novel about enduring love to life director Nick Cassavetes (Unhook the Stars) may have used his own experiences having seen his parents--the late John Cassavetes and his lady love and muse Gena Rowlands--play out their own real-life love affair. Cassavettes gets to the heart of the material right away and permeates the screen with the beautiful surroundings of South Carolina where The Notebook was filmed. We glide through lush moss-filled swamps and sleepy Southern towns marvel at languid shots of the South Carolina coastline. It's very clear Cassavetes has a way with actors much like his father did gently coaxing realistic performances from his young somewhat untested leads while allowing old guards like Garner and Rowlands to simply work their magic (imagine telling your Oscar-nominated mother how to act. Right). The problem is the story itself which not only offers nothing new to the romance genre but also isn't very compelling. There are no great tragedies (save perhaps for the whole dementia thing) no real villainous presence to keep the lovers apart no peril at all. It's boy-meets-girl boy-loses-girl boy-wins-girl-back--ho-hum. Where's the sudsy soap opera when you need it?