What is the difference between wall Street and Dalal street? Wall street is a matured men, who knows how to do a mistake and how to justify it. Dalal street is a kid, only few years before learned to walk by looking at wall street for so many years.
US investors and the stock market is one of the place pioneered the financial innovation and also the disasters associated with it. It happened in 1930 named as ‘ THE GREAT DEPRESSION‘ which taught great lessons to the world how not to do share trading. The so called developed countries and their casino like capitalism never learned any meaningful lessons from that. Then came 2000 with a bigger economic collapse named as ‘ DOT COM BUBBLE‘ focused on IT related stock collapses and caused economic recession.
History repeats itself. The systematic and deliberate activities of government, financial markets, banks, insurance companies, investors, borrowers of the US created a much bigger economic collapse in the US Housing market from the beginning of 2007 was named as ‘ THE SUB PRIME CRISIS‘. The deliberate greed of US government to maintain the economic growth after 9/11 attack by cutting the interest rate by a huge 1% made their people to borrow money easily ans spend it without going for any job. They are called as NINJA generation. A generation with No Income, No Jobs, and Assets. World is learning horrible lessons after that crisis and serious questions raised regarding the sustainability of the CAPITALISM.
How would it be if we watch all the pros and cons of these economic collapses as movies? US did that as well. In 1987 they made a movie called ” WALL STREET” which spoke about the issues of 1930 – Great depression. The major roles were played by Michael Douglas, Charlie Sheen, and Daryl Hannah. The plot was about a stock brokers insider trading game. at the end of the story Michael Douglas who played the role of Gordon Gekko, was sent to prison for the involvement in the stock market scandal. The famous lines of Gordon Gekko in that movie was “greed, for lack of a better word, is good”.
As a celebration of Sub prime crisis, same Wall street team which includes Director Oliver Stone Michael Douglas reprises his role as Gordon Gekko with Shia LaBeouf, Josh Brolin, Carey Mulligan, and Frank Langella made a movie called ” WALL STREET MONEY NEVER SLEEPS” as a sequel to the original Wall street 1987 movie. The movie was produced by 20th century fox and it was amazing to watch.
The movie starts with the scene of Gekko getting released from Jail sentence after 8 years of punishment for his insider trading. He comes out in 2001 and writes a book called ” IS GREED GOOD?” which teaches the problems and solutions for sub prime crisis, greatly received by the depressed US investors. The story then travels around the plot of Insider information and unethical practices followed by wall street giants. Gekko is not a villain, but he played Anti hero in the movie. It all ends well when Gekko realizes his mistake and joins with his daughter.
As a finance professor I got inspired by the dialogues and the storyline that the movie carries. Real life giants like Warenn Buffet also came in some scenes as warren buffet himself speaking about the derivatives financial contracts and calling it as WMD’s ( weapon of mass destruction).
This movie not only spoke about the numbers in the wall street trading but also the emotional strings attached with the wall street investors.
To understand the Sub prime crisis and keep ourselves away from stock market disasters like great depression and sub prime crisis this movie is worth watching.
As Mr.Insider Gordon Gekko says in the film, we will come to a conclusion after watching the film
” The Mother of all evil is Speculation”!