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.
Loosely based on the (rather lame) 1960 Rat Pack film dashing understated-but-cool thief Danny Ocean (George Clooney) orchestrates the most sophisticated elaborate casino heist in history less than 24 hours after being released from jail. In one night Danny's handpicked 11-man crew of specialists--including an ace card sharp (Brad Pitt) a young-but-masterful pickpocket (Matt Damon) and a demolition genius (Don Cheadle)--will attempt to steal over $150 million from three Las Vegas casinos owned by Terry Benedict (Andy Garcia) the elegant ruthless entrepreneur who just happens to be dating Danny's ex-wife Tess (Julia Roberts). To score the cash Danny will have to risk his life and risk his chance of ever reconciling with Tess. But if all goes according to his intricate nearly impossible plan Danny won't have to choose between his stake in the heist and his high-stakes reunion with Tess. Or will he?
The star wattage in this movie could solve all of California's electricity problems in one fell swoop. George Clooney easily passes himself off as suave mastermind Danny Ocean playing the role with understated class and elegance. Brad Pitt takes a similar arc as Rusty though he's slightly more dispassionate and professional than Clooney's visionary Ocean. Matt Damon is convincing as the inexperienced-but-talented pickpocket who's essential to getting in the vault. And Julia is simply Julia--glamorous and charming a smart cookie who is being wooed by the evil ruthless (and anal-retentive) casino mogul so elegantly portrayed by Andy Garcia. Affecting a Cockney accent and attitude Don Cheadle's portrayal of the demolition expert is a tour de force. Carl Reiner is absolutely hilarious as Saul Bloom an aging old-timer who comes out of retirement to infiltrate the casino as a debonair arms dealer. Elliott Gould Bernie Mac Scott Caan and Casey Affleck round out the cast nicely with inspired performances especially Gould's and Mac's.
Soderbergh cemented his reputation last year as a director of serious weight when both Traffic and Erin Brockovich were nominated for the Best Film Academy Award and garnered him two Best Director nominations---an unprecedented feat. Ocean's Eleven marks Soderbergh's departure from the serious to the seriously fun. This is one of the most stylish most elegantly filmed movies I have ever seen. Not only are all the actors beautiful but so are the locations clothes and shot selections. The speed and pacing of the flick belie the movie's length; Soderbergh clearly had fun making this movie. He shot this film very intimately often allowing the camera to stay close on the actors a tad longer than expected which lets their personas shine through--thus their personalities draw you into the movie as much as the caper itself. It's not often you see a movie where the direction has as much wit and cleverness as the plot itself. Ocean's Eleven makes no pretense to be something other than a jaunty cheeky exhilarating heist movie. So while the plot's not too deep all is forgiven considering the level of acting and direction.