Learn English by Watching Films: «Wall Street» (1987)

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 «It’s all about bucks, kid. The rest is conversation.»

The film has come to be seen as the archetypal portrayal of 1980s excess, with Gekko (Michael Douglas) advocating «greed, for lack of a better word, is good». What’s intriguing about «Wall Street» is that the movie’s real target is the value system that places profits and wealth and the Deal above any other consideration. The trick is to make his kind of money without breaking the law.

Wall Street is not a wholesale criticism of the capitalist system, but of the cynical, quick-buck culture of the 1980s. The «good» characters in the film are themselves capitalists, but in a more steady, hardworking sense. In one scene, Gekko scoffs at Bud Fox’s (Charlie Sheen) question as to the moral value of hard work, quoting the example of his (Gekko’s) father, who worked hard his entire life and died in relative mediocrity. Lou Mannheim as an archetype old man mentor, says early in the film, that «good things sometimes take time», referring to IBM and Hilton—in contrast, Gekko’s «Greed is Good» credo typifies the short-term view prevalent in the 80s.

To watch “Wall Street” online in English go to: http://www.movie2k.to/wall-street-watch-movie-390489.html

“Greed if Good” speech: http://www.youtube.com/watch?v=Muz1OcEzJOs

Michael Douglas speaks about Oliver Stone and Wall Street: http://www.youtube.com/watch?v=-sWQGZdd9_0

Did you know?

• The story is loosely patterned after the junk bond/insider trading scandals of the ’80s.
• The movie’s line «Greed… is good.» was voted as the #70 of «The 100 Greatest Movie Lines» by Premiere in 2007.
• Gordon Gekko’s «Greed is good» speech was inspired by a similar speech given by Ivan Boesky at the University of California’s commencement ceremony in 1986. Boesky was a Wall Street arbitrageur who paid a $100 million penalty to the SEC to settle insider trading charges later that same year. In his speech, Boesky said «Greed is all right, by the way. I want you to know that. I think greed is healthy. You can be greedy and still feel good about yourself.»
• The first feature film to demonstrate the use of a cordless portable phone, i.e. a cellphone.
• In the Wall Street scenes the camera is deliberately jittery and always prowling. It becomes calmer and stationary in the more grounded scenes with Bud’s father.

Vocabulary from the film:

to indulge in fantasy – предаваться иллюзиям, грезам

to figure out – понимать, постигать

upward surge of mankind – развитие человечества, движение человечества вперед, прогресс  

to be in play – быть в игре

revolving credit — автоматически возобновляемый аккредитив   

annuity – ежегодный доход, рента

to turn something around – улучшить, исправить в лучшую сторону    

to dump something — демпировать  

to gobble up — захватывать (о захвате мелких фирм крупными), поглощать

to be at stake – быть на кону

to get eliminated – быть устраненным, уничтоженным

to malfunction – неисправно работать

to commit 25% of debt structure – совершить 24% от всей долговой структуры

to bid – принимать участие в торгах, предлагать цену (на аукционе)

to nail down a deal – заключить сделку

to clear $60m – получить $60 млн. чистой прибыли

upheaval – переворот, беспорядки, перемены (резкие и нежелательные)

big hitter – важная птица

to plummet – резко падать (о ценах)  

Answer the questions:

1. The economist Joseph Schumpeter has emphasized how “creative destruction” is necessary for continued economic growth. Do Gekko and others like him embody that positive element in a dynamic economy? Or are they simply bad?
2. Interestingly, Oliver Stone’s original Wall Street came out about the same time as business ethics was the hot topic in business management- what does that say about the 80’s? What do you think is today’s new buzz word in leadership and management and what does that say about us and our time?
3. If a job candidate stated that they love Gordon Gekko, would this make you more likely or less likely to hire them?
4. Does this film provide a great backdrop to the landscape that led to the financial crisis of 2008?

Do you agree or disagree with the following:

• Lunch is for wimps. (Gordon Gekko)
• Stop going for the easy buck and start producing something with your life. Create, instead of living off the buying and selling of others. (Carl Fox)
• Bud Fox: How much is enough? — Gordon Gekko: It’s not a question of enough, pal. It’s a zero sum game, somebody wins, somebody loses. Money itself isn’t lost or made, it’s simply transferred from one perception to another.
• The main thing about money, Bud, is that it makes you do things you don’t want to do. (Lou Mannheim)
• The point is ladies and gentlemen that greed, for lack of a better word, is good. (Gordon Gekko)
• If you need a friend, get a dog. (Gordon Gekko)
• Bud Fox: Why do you need to wreck this company? Gordon Gekko: Because it’s WRECKABLE, all right? I took another look at it and I changed my mind!
• There’s no nobility in poverty. (Carl Fox)

Wall Street vocabulary:

Bear Market: Slang for when the stock market is in a general, prolonged period of falling stock prices. Opposite of a bull market.

Broker: A person who buys or sells an investment for you [stocks, bonds, commodities, etc.] in exchange for a fee, called a «commission»

Bull Market: Slang for when the stock market is in a general, prolonged period of rising stock prices. Opposite of a bear market.

Dividend: A dividend is a portion of a company’s earnings that is paid out to shareholders on a quarterly or annual basis. Most dividend policies are set by the current management.

Exchange: An exchange is a place in which options, futures, and shares in stocks, bonds, indexes, and commodities are traded. The most famous in the United States is the New York Stock Exchange.

Index: An index is a benchmark which is used as a reference marker to which financial performance is measured and compared against. The Dow Jones Industrial Average and Standard & Poor’s 500 are examples.

Institution: A word used to describe any company, brokerage house, or entity that is not an individual.

Margin: A margin account lets a person borrow money from a broker to purchase securities. The difference between the amount of the loan, and the price of the securities, is called the margin.

Market Maker: A market maker is a person, brokerage, bank, or institution that maintains a permanent firm bid and ask price on a certain stock. This means that they are standing and prepared at any moment to pay a particular price to buy or sell a stock.

Sector: A group of stocks that are in the same business [e.g., the "Utilities" sector would include Water and Power & Light companies].

Volume: The number of shares of stock traded during a particular time period.

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