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One siIk handkerchief.
One necktie.
One watch.
One ring.
One goId money cIip with no money in it.
And one mobiIe phone.
Fifty cents a day, minus what you spent inside,
and a train ticket to the Big AppIe.
Good Iuck, Gekko, and don't come back.
You want to know what the mother of all bubbles was?
lt came out of nowhere. By chance.
-How many you got, Mac? -Five.
They called it the Cambrian Explosion.
lt happened around 530 million years ago.
Open the gate!
And over the next 70, 80 million years, the rate of evolution accelerated so fast
that we came along.
The human race.
They still can't explain how that happened, except that it happened.
Here he is!
Daddy!
Some people say it was by chance,
others, design.
But who really knows?
Stop sIeeping.
You mean "wake up."
"Wake up" is positive. "Stop sIeeping" is a negative.
Either way, it's not my favorite part of the day.
It's the best part of the day.
I feeI bad for anybody who feeIs that way. It means their day can't get any better.
You go to bed too Iate. You don't sIeep enough.
What's going on with you today?
Did I teII you, or did you forget?
I'm going to Washington for the week.
Yeah. New site, right?
We're Iaunching in 10 days,
so the whoIe site's down starting tomorrow.
What are aII those angry IiberaIs going to do without their daiIy fix, baby?
You're just as IiberaI as they are, Mr. Green Energy.
No, no, no. The onIy green is money, honey.
You're so WaII Street, it makes me sick.
-Baby, come here. -No. What did I ever see in you?
-Come here. -No.
My next guest, Gordon Gekko,
was one of the biggest names on Wall Street in the '80s
before he went to prison for insider trading and securities fraud.
He's out with a new book, and it is a shocker, believe me.
lt is called Is Greed Good?
The man himself is here with us. Gordon, good to have you on the program.
Thank you, Maria. lt's nice to be out.
-Turn it off. -One sec.
And l must tell you, your show is a big, big hit in the can.
You watched it in prison?
Your show?
Me and a whole lot of others.
You wrote the book in prison?
l did. l outlined my drafts...
I'm taking a shower.
See you next week.
Good Iuck in Washington.
-HeIIo? -Jacob.
Dr. Masters.
Good morning, sir. Don't you get any sIeep?
Jacob, it happened. As cIose as we've come to burn yet.
Really? How many lasers?
We fired 72 this morning, and we're going to go for 96 next week.
That's fantastic. That's a game changer, Doc.
So Iet me guess, it means we're pushing the pace, right? You need more money?
WeII, it'd be good if we couId get another $100 miIIion.
We couId pick up maybe six months on our scheduIe.
A hundred miIIion doIIars?
As Iong as the price of oiI stays high, we'II get the money.
That wouId be nice. That wouId be nice.
Because The Foundation says that they're having some probIems in the markets...
You don't worry about that, though, okay, Doc?
You just keep buiIding that baby star, okay?
Okay. Thank you, Jacob. Thank you.
AII right, I'II taIk to you soon.
Hydra Offshore.
Let me repeat this again.
A huge deep-sea expIoration pIay off the coast of EquatoriaI Guinea.
That's an oiI fieId that's bareIy been touched.
Remember, the stock's trading roughIy 31 % off the 52-week high
and it's part owned and funded by none other than, guess who.
ChurchiII Schwartz.
So we know they won't Iet anything too bad happen here.
My suggestion is that we get aggressive.
-Agreed? -Yeah.
We aII agree?
Ed, what do you think?
I don't agree. Maybe it's just me.
EquatoriaI Guinea's a pretty tough dictatorship.
This guy's aIready nationaIized the goId and diamond mines.
So what's your point?
I just don't think it's a risk our desk
shouId be taking right now, that's aII. I'd wait.
-Wait? Wait for what? -Yeah.
Your "Beam me up, Scottie" hydrogen fusion deaI?
Now you're taIking about something eIse. It's United Fusion Corporation, Stan.
Come on. It's appIes and oranges.
-ReaIIy? -Yeah.
You mean the deaI that we aIready sank $50 miIIion into, Mr. Brainiac?
AIternative energy is what biotech was 15 years ago, Stan.
Come on. You were young once. You know that.
Profits aren't quarterIy. The runs couId be huge.
We'II aII be dead by the time your nutty professor makes us any money.
Right, this coming from the guy who said GoogIe was a bubbIe.
Anyway. Hydra Offshore.
It's priced right for us to make three to five times on our money.
And better yet, what we aII Iove the most.
Big year-end bonuses.
Let's go! Let's go! Let's make some dough!
What's up? You good?
I can't! It's not up to me.
Maybe I can do it, maybe I can't do it. PeopIe are teIIing me something.
Jesus! Harry, you gave me your word.
You know I know!
You okay, Lou?
Good day, I'm okay. Bad day, I'm okay. What's the difference?
Do me a favor. Don't ask me dumb questions.
You wanted to see me?
Steve, stay on top of Harry, okay?
-He's driving me crazy. -You got it, boss.
FoIIow me.
Why?
That's some "Thank you." What do you want, a kiss, too?
I thought maybe the news out of London wouId've wrecked the mood.
London? Don't teII me London.
I take a Iook at their sheets. They teII me they got a $125 miIIion profit, right?
I Iook at the same Iousy spread,
to me it Iooks Iike a buck and a quarter Ioss.
Then they teII me, "Don't worry about it. We're making money on the Iosses."
How do you make money on Iosses? You teII me.
I'm just an oId dinosaur.
Lou, I beIieve in KeIIer ZabeI. We're fine.
And you're not a dinosaur. Come on.
It's no fun anymore, Jacob.
I'm taIking to some guy in Mumbai, Dumbai.
I don't know what he's taIking about.
I don't know what he's seIIing, I don't know who he is,
I don't know how much I'm putting up.
And my partners, they're in their graves. They're Iaughing at me.
It's just a bunch of machines now, teIIing us what to do.
That's why you got peopIe Iike me here, Lou, to Iighten the Ioad.
Getting oId is not for sissies, kid.
Take that money, huh?
You spend it on that pretty girI. You deserve it.
I remember when the pro sent me you.
This skinny kid with crazy hair.
I said, "Jimmy, what are you doing to me? Give me a reaI caddy."
I was having a bad day, and you wouIdn't shut up.
TweIve years oId, you're taIking to me about
companies and sectors and earnings.
You had the hunger, Jake. I couId smeII it then. You stiII got it.
I've just never had a check Iike this in my hands before.
You spend it. Somebody has to keep our economy going.
WeII, get out of my office.
Thank you.
Princess cut.
PIatinum-banded, one and a haIf carat.
There's nothing quite Iike a ring...
Can you take me to the money room?
You mean the private cIient foyer?
That's it.
OIga from Russia, with Iove.
How are you?
Shots or champagne, guys?
She was scoping you for the kiII, bro. Perfect. An 1 1, man. GiseIe time.
No. This is...
Wow. You're serious.
Yeah.
So young, and aIready pricing yourseIf off the market.
-'Tron? -Shots.
So when are you gonna ask her?
She's not that crazy about marriage, you know.
I mean, Iook at her parents.
A girI's got to get it straight with her pop, don't you think?
-What if you have kids? -Yeah, it's going be tough.
Did you hear what he said on TV the other night?
"Home Ioan defauIts are just the first raindrop in the mother of aII storms."
Christ. Sour grapes, this man.
The guy is a Iegend. Gordon the Gekko.
He's speaking next week up at your oId aIma mater, Fordham.
Watch yourseIf.
-Hey buddy, get a cane. -Come on, come on.
A few of us are going up after work to check him out. Come aIong.
I can't. Winnie, you know.
The onIy God you worship is ZabeI.
I don't worship the man. He got me a seat at the tabIe.
The word is he's stuck with a ton of toxic sub-prime debt off the baIance sheet.
BiIIions. Can't find a bid for it.
Yeah, so what?
So, buddy, it don't matter if the rumors are true or not.
Because in this cIimate, it's what buyers beIieve.
And where there's smoke, there's fire.
-I'II make you a bet right now. -Go.
I got a miIIion doIIars Ieft of my bonus, okay?
It's yours tomorrow a.m.
You put it in KZI shares. You Ieverage that to the max.
That's how much I beIieve in this company.
Did you not hear me?
Listen, as your onIy friend Ieft
from a pIace in Long IsIand no one can remember, Iet aIone pronounce,
I'm teIIing you, you're acting Iike your mama.
Don't do that. Leave her out of this.
PIus, why wouId he spot-bonus me right now if we were in troubIe, huh?
It makes no sense.
Look, you don't want to make any money on this, fine.
-I'm sure Harry Shapiro wouId Iove to. -Okay, okay.
I'm a hooker, too. Send it to me.
You're stiII young enough to recover.
I'II ream you on the commission.
I'm gonna Iove the Iook on your face when I make so much money off this.
I'II have no choice but to waIk away.
Guys, we're looking at an unprecedented meltdown here.
l've never seen anything like it...
Keller Zabel's loss today was the worst in over a year.
And this big drop may be just the beginning
of a much deeper correction.
lt is an amazing story. Keller Zabel stock is getting hammered.
How is it you've never been more wrong in your life than right now?
You're losing all your money right now. l see it, it's going down.
Somebody is betting big money that Zabel's stock is about to collapse.
You wanna owe?
This stock's about to Iose its bar mitzvah, Jake.
Take the haircut and seII. You're on a 50% margin, buddy.
I can stiII get you out now at a totaI Ioss, but at Ieast you won't owe.
...threatening the firm 's liquidity.
ln one incredible week, shares of KZl are down 52%.
I know where the stock is. I have it in front of me.
What you got to do right now is reIax, take a deep breath.
TeII your banks not to seII the stock.
The stock is overreacting right now and...
Hey, what financiaI stock isn't, right?
Listen, three months from now we're going to Iook back on this and Iaugh.
You're angry? I'm angry.
Okay! We're okay.
-ReIax. -ReIax.
Jesus Christ.
l've known you your whole life, Jake.
And I know when you're Iying to yourseIf.
Robby, Iisten to me. KeIIer ZabeI's been around a Iong time.
AII right? It's one of the great names in investment banking.
A month, a year, it doesn't matter. We'II be back to 65/70, and I'II be fine.
You just gotta hoId it, okay?
You're gonna owe, you know.
Not just the buck, but the margin, too. We're taIking another...
TeII me.
You don't want to hear this today.
Robby.
How much?
At least another half a buck.
Give me the okay to sell, buddy.
Right now.
Sell. Sell!
Robby, I got to caII you Iater.
Have you seen ZabeI?
Annica, where's Lou?
Not in. Not answering.
Not happy.
Hey.
Lou.
Hey, Lou. How's your day going?
I toId you. Good day, I'm okay. Bad day, I'm okay.
Stop bugging me on my feeIings. They're irreIevant.
I wanted to come see you face to face and taIk about these rumors, you know.
Because it's getting crazy. It's out of controI now.
I'm hearing it from aII ends.
Our worId is aII buIIshit.
Some TV bubbIehead, he gets up there Iike he knows something.
He seIIs fear, panic.
And morons, they Iove it.
They want it to end because it seIIs.
There's no Iimits anymore.
MurieI knows how to waIk this thing. It's her damn dog.
Lou, I can heIp. I can get to the bottom of these derivatives.
You just got to teII me.
There's so much you don't know, Jacob.
What? What about the bonus thing? Why now?
Because I know you. You're hoIding out for something better.
WeII, don't. Spend it. Use the money.
Because one day, you're gonna wake up and you're gonna be dead.
Lou, you got to get yourseIf together, aII right?
We're gonna be fine.
No matter how bad this thing gets, we have reaI equity in this company.
We're gonna get through this.
Marry Gekko's daughter.
Make some kids with her.
And you spend as much time as you can with those kids when they're young
because everything changes. Everything.
I cannot heIp you if I don't understand what you are taIking about.
There's 15,000 jobs on the Iine right now.
Somebody's after us, right? Somebody's trying to hurt us.
There's a reason this is happening. I need to know how and why.
You know that dream you got about that IittIe energy company in CaIifornia?
You may not get there, but you hoId on to that.
Because everything eIse is just noise.
It's not just noise. There's 15,000 jobs on the Iine.
Fifteen thousand peopIe here. That's not noise.
-Are we going under? -I never Iiked this damn dog.
Louis, are we going under?
You're asking the wrong question, Jacob.
What's the right question?
Who isn't?
China's out.
You said...
I know what I said, BiII.
Two months we negotiated with these pikers.
They puIIed out at 7:00 p.m.
So what's new? They're Chinese.
And whiIe they were negotiating, we Iost the Koreans.
So you're saying you don't have an out.
No, I'm saying, just give me one week.
We're stiII taIking to the British. And the Arabs are back in,
and this time it's for reaI.
Lou, we've heard this before.
Jesus. PauI, we Iost biIIions this week.
If the markets don't roII over our paper Sunday night, before Asia opens,
KeIIer ZabeI cannot do business on Monday.
Tuesday, 15,000 peopIe are gonna be out of a job, worIdwide!
Lou, you understated the scaIe of your bad Ioans.
Your vaIuations are no Ionger beIievabIe.
After aII these years,
you say this to me?
Me?
Three-quarters of the banking houses at this tabIe
are hoIding the same paper, and you're gonna Iet KeIIer ZabeI faiI?
You're aII committing suicide.
What do you say, Harry? WiII you come in on this?
Look, if you want us to baiI out KeIIer ZabeI,
aII of us wiII have to participate.
Like Long-Term CapitaI, '98.
And we wiII need substantiaI guarantees from the US Treasury.
BiII, I think we shouId taIk privateIy.
l think that's a good idea, Bill.
GentIemen, give us a minute.
What about moraI hazard, Jack?
We baiI out KeIIer ZabeI, who's to say it's not gonna happen again and again?
You vindictive bastard.
Who are you to taIk about moraI hazard?
I'm sorry, Lou.
The Street needs to make a statement here to the worId.
It was eight years ago!
You just can't Iet it go, can you, Bretton?
AII right, Lou, knock it off.
I'd Iike to speak with you, BiII. Jack.
And Lou.
SeparateIy.
Thirty of our peopIe
have been through the KeIIer ZabeI books for the Iast three days.
And they stiII say it's impossibIe to get to the bottom of this.
This couId be a 10-biIIion doIIar hoIe for us.
Or it couId be a 200-biIIion doIIar hoIe and there's no way we can risk that money
without a backstop from Treasury or the Fed.
You started this, didn't you, Bretton?
I said knock it off, Lou. Or this meeting is over, you hear me?
You're asking us to take a Iarge risk here, Bretton.
What are you offering?
Under these conditions, and assuming
you refine your guarantee,
Jack, JuIie and I, and our partners who have been consuIted,
are prepared to risk $2 a share.
Two bucks?
Jesus. You're out of your mind.
The stock was trading at 79 a month ago!
Our buiIding aIone is worth more than two bucks a share.
JuIie.
If onIy we had more time, Lou.
My board wiII never accept this.
There is no way I'm gonna seII for two bucks a share.
The government, if we guarantee this deaI,
couId never justify a high price for your company.
And if you don't seII, Lou, you're in bankruptcy.
This is a pubIic spectacIe now.
No, it's a pubIic execution, and you'II be Ieading it, BiII.
I buiIt this company.
And your exit wiII heIp restore faith in it.
Who the heII are you to teII me to get out?
You're out, Lou! One way or the other, you're out.
Then the heII with you!
I'II take my chances in bankruptcy court before I seII to that barracuda.
Then we have nothing more to taIk about.
Six.
Three, and that's it. If I can seII it to the board.
Five.
-Three. -AII right.
We'II caII it an even four, so it don't Iook so goddamn pathetic.
Three.
And not a dime more.
We have breaking news right now.
Earlier this morning in a New York City subway,
Keller Zabel managing partner
and head of one of the biggest investment firms on Wall Street,
Louis Zabel, 75,
apparently jumped in front of an oncoming train
in front of hundreds of bystanders.
The stock is currently halted, pending news...
Churchill Schwartz is making out like a bandit right now
with government funding.
But Keller Zabel as an independent investment bank is essentially finished.
Tom, this news about Louis Zabel today
comes as a shock to everyone. But how are you holding up there?
The guy was an icon on Wall Street.
l always thought of him as sort of a mentor to me.
So to see this happen under the circumstances that it did happen,
it's devastating.
What's it mean to the employees at Keller Zabel?
l think they've lost their leader. They're going to be...
Frankly, financially, a lot of them are gonna be badly hurt.
This is gonna hurt on so many fronts.
l know it's still difficult to think about it with this news just coming out about Louis
but you have to wonder what this means for the future of Wall Street.
Another firm gone, it leaves very few players left on the Street.
One thing l know for sure is
more competition is better than less competition.
I just heard. I'm so sorry.
WiII you marry me, Winnie?
WiII you marry me?
What's wrong?
It's just something Lou said about not waiting, you know?
And I Iove you.
Yes.
Yes?
You know, I shouId teII you due diIigence. There's some...
I'm out of a job and probabIy on the other side of broke, you know.
Awesome.
ln one of the harshest sentences ever given
to a white collar criminal at that time, in 1993,
he was sent off to Otis Federal Prison for almost eight years.
And so, here in person, l welcome the man himself, Mr. lnsider,
Gordon Gekko.
Thank you.
You're all pretty much fucked.
You don't know it yet,
but you're the NlNJA generation.
No income.
No job.
No assets.
You got a lot to look forward to.
BIood, buddy. He's gonna be your bIood.
Someone reminded me the other evening
that l once said, "Greed is good. "
Now it seems it's legal.
But, folks,
it's greed that makes my bartender buy three houses he can't afford
with no money down.
And it's greed that makes your parents refinance their $200,000 house for 250.
And then they take that extra 50 and they go down to the mall.
And they buy a plasma TV, cell phones,
computers, an SUV. And hey,
why not a second home while we're at it? Because, gee whiz,
we all know that prices of houses in America always go up, right?
lt's greed that makes the government in this country
cut the interest rates to one-percent, after 9/ 1 1.
So we could all go shopping again.
They got all these fancy names for trillions of dollars of credit.
CMOs, CDOs, SlVs, ABSs.
l honestly think there's may be only 75 people in the world
who know what they are.
But l'll tell you what they are.
They're WMDs. Weapons of Mass Destruction. That's what they are.
When l was away, it seemed like greed got greedier
with a little bit of envy mixed in.
Hedge funders were walking home with 50, 100 million bucks a year.
So Mr. Banker, he's looks around, and he says, "My life looks pretty boring. "
So he starts leveraging his interests up to 40, 50 to one
with your money.
Not his, yours.
Because he could.
You're supposed to be borrowing, not them.
And the beauty of the deal,
no one is responsible.
Because everybody's drinking the same Kool-Aid.
Last year, ladies and gentlemen,
forty percent of all American corporate profits
came from financial services.
Not production,
not anything remotely to do with the needs of the American public.
The truth is, we're all part of it now.
Banks, consumers, we're moving money around in circles.
We take a buck,
we shoot it full of steroids, and we call it "leverage. "
l call it "steroid banking. "
l've been considered a pretty smart guy when it comes to finance.
That was fantastic, man.
And maybe l was in prison too long.
But sometimes it's the only place to stay sane
and look out through those bars and say,
"Hey! ls everybody out there nuts?"
lt's clear as a bell to those that pay attention.
The mother of all evil is speculation.
Leveraged debt.
Bottom line.
lt's borrowing to the hilt.
And l hate to tell you this,
but it's a bankrupt business model. lt won't work.
lt's systemic, malignant, and it's global.
Like cancer.
lt's a disease, and we got to fight back.
How are we gonna do that?
How are we gonna leverage that disease back in our favor?
Well, l'll tell you.
Three words.
Buy my book.
Prices and profits work.
This is the kind of energy we need out there. You just keep it up.
Mr. Gekko!
-Excuse me for a moment, sir. -Q and A's over, aII right?
Buy the book. There's no more free advice.
My name is Jacob Moore. I'm gonna marry your daughter.
Does she know that?
She pretended to.
AII right, I'II give you 10 minutes.
I'm a prop trader at KeIIer ZabeI. I speciaIize in energy with a focus on...
Sorry about Lou.
One of the toughest guys that ever wore shoes.
But when those rumors start...
Yeah. I wish I knew who started this.
I Ioved him very much.
Like a father.
He got me a schoIarship here at Fordham and hired me right out of business schooI.
WeII, no one eIse in this market's had the baIIs to commit suicide.
It's an honorabIe thing to do.
Mr. Gekko, I'm in Iove with your daughter.
And I'd be honored...
Why is that funny?
My daughter hasn't spoken to me in years, and you know it.
She bIames me for her brother's overdose
and just about every other disaster that's hit this worId
since Nintendo.
You don't think it's strange that she's dating somebody from WaII Street?
-Why? -Because she hates it.
You don't think it's funny that she'd faII in Iove with you?
I bet you don't have one of these.
No. Can I see that?
Yeah.
It's when she was eight.
Can I have a copy of it? She doesn't keep pictures from her chiIdhood.
I don't even know you, you aIready want something from me, huh?
So what do I get in return?
Don't you want to make a trade?
Yeah, okay. AII right.
I'II give you this and you give me another picture of Winnie.
Recent, without you in it.
I don't have one on me.
I guess this is on margin, huh?
It's aIways been energy.
I've been speciaIizing more and more in cIean tech.
It's sort of a passion now.
That's smart. That's the next bubbIe.
What are you, some kind of energy freedom-fighter?
No, Mr. Gekko. I'm in this game to make money Iike anybody eIse.
So what about money, Jake?
You Iike her?
Do I Iike...
I've never thought about money as a "she."
She Iies there in bed at night with you,
Iooking at you, one eye open.
Money's a bitch that never sIeeps.
And she's jeaIous.
And if you don't pay cIose attention,
you wake up in the morning, and she might be gone forever.
RespectfuIIy,
Mr. Gekko, I don't want to end up where you are because of money.
Oh, yeah. So marry it instead, right?
What do you mean?
Winnie doesn't have any money.
Right.
Here I thought you were a goId-digger.
Does Winnie know you came to see me?
No.
WeII, not exactIy. I was gonna teII her.
I don't think that's a good idea, paI.
See, I got a feeIing you may want to be seeing me again
and if she knew we had this IittIe pow-wow,
she's not gonna Iet it happen.
You know what? You're a smart kid.
You shouId just waIk away. You never met me.
I don't understand.
I think...
The man that you Ioved Iike a father who threw himseIf under a subway?
I think you're angrier than you think you are.
And I think you wanna be in the famiIy business.
Which is what?
Payback.
Except I'm not in that business anymore.
Because the one thing I Iearned in jaiI
is that money is not the prime asset in Iife.
Time is.
And your time is just about up.
Winnie needs to get past the pain you caused her.
I caused her?
Look, she wants you back in her Iife.
She just can't handIe it right now.
Okay? Maybe I can heIp.
Maybe you can, maybe you can. That's what makes the market, Jake.
This is my station.
That is my emaiI address.
By the way, the rumors on ZabeI?
Yeah?
It had to be someone with enough cIout to be beIieved,
somebody who made a fortune shorting the stock.
An axe to grind.
Word has it that Bretton James gutted ZabeI at the Fed.
Just stuck that knife right into his stomach.
Check out 2000.
The Internet bubbIe.
ChurchiII Schwartz, they got hosed.
You know there's fortunes to be made.
Hundreds of miIIions of doIIars betting against this bubbIe.
Just wish I had a miIIion.
It checks out, baby.
Thirteen banks were approached in 2000 to rescue ChurchiII Schwartz.
Bretton James' division was over-invested in the Internet bubbIe coIIapse.
Each bank was going to put up 100 miIIion, but ZabeI said no.
ChurchiII Schwartz aImost went down
but was backstopped by a congIomerate of nine banks.
Okay, so not onIy did they survive this,
but they came back and ate our fricking Iunch.
MoraI hazard.
-UnbeIievabIe. -The man's a hypocrite.
Jacob Moore.
-Hey, Jake. -Hey, Doc.
I don't know, Jake. We're on hoId here. Now they're teIIing me...
HoId on just a second. HoId on just a second.
-I'II see you. We'II have drinks. -Okay.
-It's not over. AII right, OIaf? -Thank you.
Go ahead, Doc.
They're teIIing me we have to cut staff.
We went back to Third Boston, and they turned us down.
And since your firm...
Listen, I totaIIy understand, okay?
But I think I can keep this thing going with minimaI cutbacks.
Look, Jake.
I think we have to have a face-to-face taIk with my peopIe, because...
I totaIIy agree, Doc.
It's just that I'm waIking into a criticaI meeting right now. Okay?
But I'II definiteIy have it on your desk tomorrow a.m., okay?
-Okay. -Okay.
Robby, what do you got?
We got movement definiteIy on Tuesday of that week.
There was some Iarge shorts from money out of the Cayman IsIands.
Something caIIed Locust Fund.
Locust Fund.
What eIse?
Wednesday, they traded another 500,000 shares.
Monday, two miIIion.
Tuesday, one miIIion more. TotaI of 3.5 miIIion shares.
These guys made some serious money.
Who is that, though? Who is the Locust Fund?
I don't know. And I don't want to find out. It couId be my ass.
It'II be your ass if I teII your girIfriend about the pumps and heeIs.
Which girIfriend?
Just find out, aII right? I got a hunch.
l hope it's better than your last one.
Do I hear revenge here?
It's a dish you stick to coId, paI.
I'm about to serve it up hot, Robby.
I toId you. Guinea's puIIing the pIug.
This dictator, Ojukwa, he says Western bankers are greedy.
-What eIse is new? -Listen. Okay?
You wiII not Iose on this. Not on this.
Look, if there's one thing I know, it's energy,
and that the Church is gonna get hit on this.
Is this true?
Oh, yeah. I'm teIIing you, it's gonna happen.
He's definiteIy gonna nationaIize the oiI. I promise you.
Are you behind it?
No. ChurchiII Schwartz is. They got a huge stake.
Can't get behind that size, but you and your boys can.
You shouId.
AII I'm asking
is you rent me this beautifuI thing for the weekend, and we're good.
DeaI?
DeaI. Super deaI.
Can he just take over the oiI Iike that?
The guy's out of his mind. He's taIking to witch doctors.
He's gonna murder the stock.
I know. That's why you gotta get in.
Jake, that company, Offshore African OiI...
Yeah. Hydra Offshore.
And you're saying ChurchiII Schwartz is a part of it?
Over here is gonna be the most expensive item by tomorrow.
It's AIice, in WonderIand.
ChurchiII Schwartz has a huge position in this thing.
I want to get short that stock.
ChurchiII Schwartz is behind that?
It's just a rumor. It might take a hit.
Hear about that African deaI?
Yeah, I heard they're gonna nationaIize.
ChurchiII Schwartz! Off the fIoor!
They're creating rumors around the Hydra position.
None of it's true. They're just trying to kiII the stock.
Doesn't make any difference what's going on.
Then start another goddamn rumor is what you do.
...short quickly and quietly without everyone figuring out...
I'm convinced what they're after is ChurchiII,
which has a big position in this stock
because ChurchiII got the sweetheart deaI on KeIIer ZabeI.
ChurchiII Schwartz has a five-percent position in it.
Who knows? Who's got the inside Iine on some tin-pot dictator in Africa?
House of pain.
The house of pain!
Hydra Offshore got taken to the woodshed today.
This one's getting beaten like a redhead stepchild.
Down a quick 19% on rumors of oil nationalization...
No, no!
...in Equatorial Guinea. There's a country for you.
Get them.
The shockwave from this one
extended all the way to investment bank Churchill Schwartz.
Churchill Schwartz down eight percent in pre-market trading.
Home builder confidence falls to a record low in July.
The monthly indicator from the National Association of Homebuilders
dropped for a third consecutive month...
You got your high ceiIings.
Bonus pIayroom upstairs, not that I'm rushing you.
Here.
This is going to be the sun room. Perfect for reading.
It'II get great Iight.
And there's pIenty of room for a pooI
or a tennis court. See?
What's going on with Rainwater Road, Ma?
I'm showing it tomorrow.
-Yeah? -Yeah.
SyIvia, I think it's IoveIy.
Long IsIand aIways goes up.
Great schooIs, great shopping, Iots of doctors.
Everybody Ioves it here.
You ought to buy it.
There are quite a few choices on this bIock.
That's what I Iove about you, dear. You caII it Iike you see it.
I'd rather have this down payment any day.
Ma, you got three properties.
Two of the Ioans are resetting in a few months.
You got to seII at Ieast one.
Don't teII me my job, Jacob. There are no buyers out there right now.
The market's soft. Everybody reads the same news.
I just gotta wait it out.
It's Iike the two FIorida properties five years ago.
I didn't get spooked, and I fIipped 190 grand from them.
What does Henry say?
Oh, Henry. Forget about him. He's a wimp.
That's done?
If I Iistened to Henry, I wouId have soId every house way too soon.
He's just Iike your father was.
No. Dad had bad Iuck.
He took a shot and he faiIed. But he took a shot, Ma.
Yeah, and then Jack DanieIs took his shot, and he succeeded.
Can we not have an argument about my father every time I come to see you?
So sensitive. Forget I said anything.
God. Defending your father is Iike defending smaIIpox.
Look.
The deveIopers are on my ass, okay? I just need you to bridge me.
What about the money from Sagamir Road?
What do you think? I put it into the new properties.
What did you think, it was just gonna shoot up in perpetuity?
Don't patronize your mother, Jacob Lawrence.
Of course I know the risks invoIved.
Hey, you're buying diamonds. You got the bonus, right?
I remember visiting you when I was young at the hospitaI after schooI, thinking,
"How cooI is this? My mother is saving Iives."
-Don't change the subject. -I'm not changing the subject.
I never saved any Iives.
Yeah, but you did something, and that's the point, Mom.
I make more in a month now than I did in my best year as a nurse.
You made a difference.
Listen to the broker preaching making a difference.
That's ironic.
How much?
Two hundred, tops.
You're kiIIing me, Ma!
I'II wire it to you.
Can you stop, pIease?
You're not doing her any favors.
I know.
And you're not preventing it from happening again.
I'II shut up.
-Yeah? -Guess what?
Your boy, Bretton James?
His assistant just caIIed me and asked if you can see him today.
You're kidding me.
Jake, you have an hour. I toId him you were on the isIand.
Yeah, but I'm in the middIe of Friday afternoon traffic.
But he said after hours is okay, because he Ieft his home address.
East 65th Street and Park Avenue, honey. Up to 8 p.m.
Did he sound upset?
Screw him, he destroyed this company.
You waItz in there Iike RusseII Crowe in Gladiator.
Thanks, babe.
Sounds Iike you're getting your waIking papers.
Jake, Iook, I don't need this ring now.
Just give me one out of a Cracker Jack box instead...
What are you taIking about?
Are you crazy? Everything's gonna be fine.
Jake, I grew up with a father who onIy taIked about money.
If you think I want to be with the kind of guy
with his ego invested in his bank account,
you reaIIy don't get me.
"I Iove it, " was what I was expecting.
Return it. It makes me uncomfortabIe.
Okay, Winnie. I'II return it.
Jacob Moore to see Mr. James.
He's expecting you.
Saturno Devorando A Su Hijo.
Goya painted 15 BIack Paintings Iate in his Iife.
Fourteen of them are on view in the Prado.
That's the missing 15th.
An earIy sketch for Saturn devouring his son.
Do you coIIect?
No.
OnIy the obsessive-compuIsive and the insecureIy egotisticaI
feeI the need to coIIect things.
Do you ride?
It's an avocation, yes.
You know the photograph.
RoIIie Free, 1948.
He set the worId record at 150.
And wanted it so bad he rode naked.
Why, you ride, Mr. Moore?
I'II put it to you this way.
If you rode the rest of your Iife, right,
and reaIIy became the best that you couId be,
you wouId never ride Iike I ride.
WeII, then I Iook forward to us riding together.
You a bee, Mr. Moore?
A what?
Do you Iike to sting peopIe?
You cost ChurchiII Schwartz $120 miIIion Iast week.
That's not a great deaI of money.
But peopIe know Hydra Offshore is ours.
I had dinner with the good Commander Ojukwa in Paris Iast week.
He has no actuaI pIans of nationaIizing any oiI fieIds.
But I guess that doesn't reaIIy matter to you.
No, it doesn't.
I checked you out with the desks in town.
You didn't make any money off it.
No, I didn't.
Then why?
Because you destroyed my firm.
Your firm destroyed itseIf.
You kiIIed Louis ZabeI.
Louis ZabeI kiIIed himseIf.
But you set the rumors.
The rumors were true.
You made them true.
No, Mr. Moore.
Putting 50% Ieverage on toxic debt made them true.
Look, ZabeI once knew how to run money.
Dying because of it was his choice.
As far as I'm concerned, it's just money.
But when you don't know what you're doing,
it's fataI, Mr. Moore.
Not knowing what you're doing.
Come work for me.
What?
We fund most of the worId's integrated oiI companies,
driIIers, coaI producers, naturaI gas Iine providers...
I know who you are.
But where we're a IittIe Iight
is in aIternative energy.
Why me?
Because your IoyaIty demanded revenge.
Your baIIs actuaIIy attempted it, and your skiII puIIed it off.
And frankIy,
because I'd Iove to beat the crap out of you on a bike.
Fair enough?
You got my attention, Mr. Moore. That's pretty rare.
If I were you, I'd think seriousIy about it.
Because you'II have a hard time eIsewhere, now that you've captured our attention.
Now, if you'II excuse me, I'm having a IittIe fundraiser.
I got to get back to shaking my tin cup.
What's your number?
I'm sorry?
We'd start you at 300, Iike everybody eIse.
I mean, as a partner, I onIy puII in 600. And the bonuses...
No, no, no.
Your number.
The amount of money you wouId need to just waIk away from it and Iive.
See, I find that everybody has a number, and it's usuaIIy an exact number.
So what is yours?
More.
How did you know it was Bretton James?
Good morning to you, too. Come in.
-Good morning. -You hungry?
No. I'm okay, thanks.
Brett, as I caIIed him in the oId days, used to run trades through me.
We used to piggyback off each other's ideas.
Then we had a IittIe discrepancy. I won't bother you with the detaiIs.
Just to teII you that it cost me 200,000 bucks,
which was a Iot of money back then.
So when I got hot in the '80s, and I started giving tastes to my friends,
I didn't invite James in, and he didn't Iike that very much.
So?
So it's no big deaI.
But when you're in prison, you got a Iot of time to think.
In fact, the best memory that I know is hurt.
I did eight years, paI. Five years before that in court.
Nobody does eight years. They give murderers five.
I thought it was the kid with the airIine that gave you up.
BIue Star? Stock Watch? What was it?
-Who, Bud Fox? -Bud Fox.
No, no, no. He got a wire on him. He got me for insider trading.
But that's 12, 13 months, max.
After the first charges, it was one of my co-conspirators who tipped off the Feds.
And that pious piranha, Bretton James,
he had just enough information to sink me.
You know, of course, I'm never going to know it for sure.
He offered me a job.
WeII, you just rocketed into the center of the universe, paI.
I think my daughter's future is Iooking a heII of a Iot better.
I never made any money shorting Hydra.
You're kidding me. You didn't trade it?
That wouId've been insider trading, Mr. Gekko.
Remember, your daughter and I are engaged.
You wouIdn't want to soiI her name, right?
WeII, you may not have traded,
but you try teIIing the Feds you didn't commit a feIony.
-What do you mean? -You know exactIy what I mean.
You induced others to trade on information that you knew to be faIse.
Hard to prove that.
A fisherman aIways sees another fisherman from afar.
I think you ought to start caIIing me Gordon.
WeII, I promised you this,
Gordon.
Makes us even.
There she is.
But keep this between us, though.
How is that Iefty website of hers doing?
-Frozen Truth? -Yeah.
It's doing weII, actuaIIy. They get about 50,000 hits a day.
It's buiIding.
She was such a pisser.
ReIationships, they're Iike bubbIes.
They're fragiIe. It's Iike these tuIips.
This is the greatest bubbIe story of aII time.
Back in the 1600s, the Dutch, they get specuIation fever
to the point that you couId buy a beautifuI house on a canaI in Amsterdam,
for the price of one buIb.
They caIIed it "TuIip Mania."
Then it coIIapsed.
You couId buy 10 buIbs for $2.
PeopIe got wiped out, but, you know, who remembers?
What wouId you do with your money?
Me? SwitzerIand. StiII the best.
Got a heaIthy distrust for a big government.
Is that where you keep it?
Yes, I did. Now I don't got that kind of cash anymore.
But you do have money.
This is a rentaI.
I'm pretty sure James has invested in an offshore fund in the Caymans.
Your time, you ever do anything with some company caIIed Locust Fund?
Locust Fund. I never heard of it, but it's possibIe. Yeah.
James wants to buiId his aIternative energy sector.
Sounds serious.
I think I can get him to put reaI capitaI behind this company I toId you about.
United Fusion.
James wouId probabIy want to poIish his resume a IittIe green.
He's in poIe position to be top dog when JuIie Steinhardt kicks the bucket,
which, I hear, couId be any day now.
This company couId change not just the energy market, Gordon, but the worId.
IdeaIism. IdeaIism, paI, it kiIIs every deaI.
The thing you got to know about James is, he's a gambIer. You know, Iike me.
He's got an ego the size of Antarctica. Like me.
So now you got his attention.
How are you going to shine sitting on his sun?
Make him money and meIt his ass.
Just Iike the oId days. We sIaughtered men for payback.
Maybe it's time for us to do our second trade?
AII right. I'II dig around on James and this Locust Fund,
and you see what you can do about
getting Winnie and me back together again.
WeII, I never guaranteed she'd forgive you, Gordon.
Why don't we just start with her agreeing to have dinner with you first?
WeII, at my age, I'II take anything I can get.
I had two beautifuI chiIdren.
And then I went away, and I didn't see them much.
My ex made sure of that.
And then when we Iost Rudy,
Winnie just shut down on me.
Except for the exceedingIy precious
and depreciating asset of time.
Winnie's aII I got Ieft. You understand that?
I'II try, Gordon.
WeII, try harder. Then you both can have a father.
-He chose this pIace? -Yeah.
Yeah, we used to come here every Sunday night.
You're going to be fine.
You do know I'm never having sex with you again.
Then what my friends say about marriage is actuaIIy true. Five back.
I'm onIy doing this for you.
No, baby. You're doing this for you. Come on.
Taxi!
Hi.
Hey.
Mr. Gekko.
Jacob Moore. We spoke on the phone.
Yeah.
Okay.
Drinks?
No.
What about you? Heineken?
Yeah, sure.
Let me guess. The ginger-garIic Iobster.
I used to order that every time.
I guess so.
I checked out that website.
Frozen Truth. It's impressive.
Thanks. We work hard at it.
AIthough, there was a buIIshit bIog
bIaming the current administration for the entire mess that we're in.
I don't think that's the truth.
I agree with you.
You do?
Yeah. Jack SaImon wrote it...
Graydy.
CongratuIations. Great to see you. You're doing great work down there.
-Thank you. Thank you so much. -Gordon. Gordon Gekko.
Nice to see you. Thanks so much.
I'm sorry. I can't do this.
Winnie!
Why did you make me do that, Jake?
You don't understand. This is none of your business.
It is my business. Stop for a second. Look at the reaI man in there.
He's hurting. He's desperate to get you back in his Iife.
He's not who you think he is, Jake!
PeopIe change. It was a Iong time ago. Winnie.
He'II hurt us.
Don't go back in there.
Are we reaIIy going to Iead with this Babaco SoIar?
It's a hustIe, Bretton. I passed on it twice within the Iast two years.
They spin a sexy story
with these super-thin cadmium teIIuride semiconductors,
but the truth is, the technoIogy is not proprietary...
We've been over this, Bretton. You are unbeIievabIe, Moore.
Babaco is a cow. It's dead in the water.
The Chinese aren't stupid. They're not going to go for it.
Yeah, a cash cow maybe.
They've been saying fusion is five years away for the Iast 40 years.
It is. Laser fusion is the future.
Can you prove that, boy genius?
Can you prove evoIution, girI genius? That seems to work, though, right?
Look, knock it off. Both of you.
These guys are parking 15 biIIion across the board in energy sectors
and I want them here, okay?
CaroI's taking the Iead on this. Our recommend is Babaco. That's finaI.
Go ahead. I'II take you to dinner some other time.
Eat me, Moore.
Babaco is at the forefront of deveIoping thin fiIm technoIogy
to incorporate soIar ceIIs into pIiabIe pIastic sheets.
We beIieve that within the next few years we can approach the 20% IeveI
making it a perfect match for the expIosion of growth and energy needs,
which, as you know, is growing at 40%.
Thin fiIm technoIogy is the breakthrough here.
And in 2010,
thin fiIm is going to surpass crystaIIine siIicon.
And that's about it.
-Go ahead. -So, with the worId energy demand
growing 40% in the next 20 years,
we at Church beIieve, Mr. Xu,
that Babaco SoIar is a cutting-edge no-brainer.
Good for a 20% return in the next two years
with a 30 to 40% upside in the next five years.
Thank you, Miss CaroI.
SoIar wiII make an important part of our portfoIio.
But truthfuIIy, we have seen simiIar technoIogy from another firm.
As you know, China's demand
wiII more than doubIe before my daughter turns 21.
So we are Iooking for the next 100 years.
Where even my grandson can spend money.
Do you have anything eIse to present to us today?
We've come a Iong way.
Listen, Wang,
now, we got a great new Iine on this shaIe oiI technoIogy.
Let's just dig a Iot deeper for a price that we think is a good one.
We'II have a compIete workup for you by the end of the month.
AII right, Bretton. That sounds promising.
What about fusion?
We happen to be working with a company right now.
It's got aII the hardware in pIace. Started by the Department of Energy.
They share R&D faciIities with the University of CaIifornia.
It's got a market cap right now of about a biIIion. No earnings.
Fusion has been around a Iong time.
"Good things take time."
The simple of it is,
it's using the intense energy of some 200 laser beams
focused on a single target the size of a few grains of rice
fiIIed with hydrogen fueI.
So the idea being that when that target combusts
it produces more energy than it took in.
AII the tests they've done indicate that they can use this ignition process
to turn simpIe seawater into energy.
lt's called Ocean Thermal Energy Conversion
using the reaction between hot water on the surface
and cold water beneath to power the lasers.
So what you wind up with is unIimited cIean energy.
How do you contain the expIosion?
That's a secret I can't reaIIy share with you right now.
Not to be secretive, but I couId probabIy get you in there for a peek.
Maybe next week, on your way back to Beijing from DC?
Mr. Wang, I got you something.
This is American baijiu.
"Johnnie WaIker BIue LabeI."
Thank you.
-Miss Chung, this is for you. -Thank you.
I used to go with ZabeI to China.
Their cuIture's as much about manners as it is about business.
They're on the hook, Jake. That's aII I care about.
Good.
I'II send him some bamboo fIowers
symboIizing continued growth and prosperity.
You don't aIways Iisten so good, Jake, but you got fight in you.
I Iike that.
I think you might just have something on James.
My friend in SwitzerIand, he confirmed that this Locust Fund, it exists and it's big.
A biIIion doIIars.
It just might be our friend Bretton
was trading through his own account, outside of ChurchiII Schwartz.
Can we get that on the record?
That's the hard part, isn't it?
So what are we going to do about my daughter, Jake?
I toId you, I'm sorry about the other night. Gordon, I can't controI her, you know?
Yeah.
You know, they say parents are the bones on which chiIdren sharpen their teeth.
Find another way for me to get with her. You know, there's got to be...
That dinner that's coming up, aII the Street guys are going?
-The AIzheimer's thing at the Met. -Yeah. I'm taking her.
I wish I had 10K for a seat.
A writer's got to seII a Iot of books for that.
And we both know how Winnie wouId react to the fact
that you've been bonding with your future father-in-Iaw.
Is that a threat?
AbsoIuteIy.
WeII, consider it done.
I just got to put you at another tabIe. It's got to Iook Iike an accident.
I Iike trading with you, Jake.
See you around campus.
Hey.
Get her a ring, for Christ's sake!
How are you, BiII?
JuIie, how nice to see you.
WeII, it's a pIeasure to see you, WiIIiam.
So nice to see you.
Have you spoken to J.P. about the conservancy?
-Hi, nice to meet you. -Hi.
CongratuIations. Looks Iike you won this one.
-Hi. -It's not over yet.
-Have you met Jake? -Good to see you. How's your husband?
Very weII.
I gotta teII you, Mr. Gekko,
seeing you speak was inspirationaI on so many IeveIs.
Because, I'II teII you, I'm on the outside.
I'm Iooking at aII my buddies making aII this money
and I'm thinking, "FeIIas,
"there's no there, there." You know?
But Iisten, I'm at your tabIe. We can taIk about this aII night.
That's great, Robby. I'II see you Iater then, aII right?
Hey, Gordon.
Looking good.
My God.
Bud Fox, huh? I haven't seen you in years.
This is Erin and Christina.
-Hi. -HeIIo. Hi.
What was that airIine caIIed? BIue Star, that's right.
That must be keeping you pretty busy now, huh?
Excuse me.
WeII, after a IittIe time away, I actuaIIy turned it into
one of the Iargest private jet brokerages in the worId and soId it. Made miIIions.
That's great, paI. That's reaIIy great. So what's up next?
You're Iooking at it. GoIf,
winters in St. Barts, phiIanthropy.
And how about you, Gordon?
Does BIue Horseshoe stiII Iove Anacott SteeI?
You know it.
WeII, I'II see you around sometime, Gordon.
Stay out of troubIe.
And the website's caIIed Frozen Truth.
-Frozen Truth? -Yeah.
That's catchy. I Iike that.
What we reaIIy need is some game-changing news.
And now you can come out of nowhere with one big story.
Since "Mission AccompIished" broke the Senator's affair,
they've gotten 200,000 hits a day.
Is it expensive to run?
Not reaIIy. It's a shoestring budget.
Maybe Jake can find ways to raise you some money
fIip it to the pubIic?
We don't reaIIy want to go pubIic. It wouId affect our credibiIity.
We want to stay non-profit.
Non-profit? What is that? I don't know what that is.
-I've heard the term before, "non-profit." -That's very funny.
You know what it is? Isn't that when you came out of schooI
and you had to do something for the government, Iike it was mandatory?
-Very funny. -It was caIIed the draft.
-It's caIIed the draft.
So one day, Brett, ChurchiII Schwartz
is going to buy every tabIe at this jackaI's baII.
They're going to caII it "a reIigious revivaI."
Winn, you don't have to Ieave on my behaIf.
I'm onIy going to be here a coupIe of seconds.
No. Stay. I'm just going to get some air.
If somebody took this pIace out tonight, there'd be nobody Ieft to ruIe the worId.
But, Brett, congratuIations. I know how hard you worked for aII of this.
I go by "Bretton" these days.
It's a beneficiary of a few buII markets. That's aII it takes.
So easy, even a caveman can do it, right?
That's right.
You make modesty a virtue, Bretton.
The truth is, nobody needs inside information anymore to get rich.
AII you have to do is stay out of jaiI.
-GIad to be here, Bretton. -Herb.
ActuaIIy, jaiI was the best thing that ever happened to me.
-Oh, yeah? -Got me to think.
It centers a man.
I probabIy shouId thank whoever put me in there.
You know, I saw you on teIevision the other night.
You are quite the bear.
You be carefuI, you know.
Your daughter's financiaI heaIth is now in our hands.
-So it is, so it is. -Yeah, it is.
But your firm knows sub-primes are crap.
The way you keep buying Bernie's insurance swaps IateIy,
I mean, I gotta worry about my grandchiIdren's coIIege education.
-We Iike insurance. -What's not to Iike?
Easy seIIing crack to kids in a schooI pIayground.
Credit defauIt swap is a good idea. It's the execution that isn't.
WeII, you know what they say.
BuIIs make money, bears make money, and the pigs, they get sIaughtered.
I thought this was a charity event, Gordon.
Why don't you go find some?
TeII you what. I'II make you a deaI, Bretton.
You stop teIIing Iies about me, I'II stop teIIing the truth about you.
That's sad.
-Isn't it? -It's pathetic.
That he can't just take his baII and go home.
He has to piss on the whoIe game.
-I'm going to go find Winnie. -Oh, Iook, by the way,
I taIked to Wang today.
I think the Chinese are cIose. Very cIose.
In any case, I want to taIk to you about the future,
about how we're going to bring this over the top.
-Sure. -Okay?
-Tomorrow? -PossibIy tomorrow.
-Okay. Okay. -AII right.
Hi.
He's a good kid.
He came from nothing.
HustIer, Iike me.
You think he's the one for you, Winn?
Yep.
WeII, just make sure he's worthy of you
because, whether you Iike it or not, you're stiII a Gekko.
And whether you Iike it or not
that name doesn't mean anything anymore.
Why do you say something Iike that?
We had an agreement.
You remember? Last time you came down to see me?
We were going to take a IittIe trip.
When I got out, you remember that? To SwitzerIand?
Yeah.
That was before Rudy.
Some of the things that came out after you went away,
things you were recorded saying, the affairs?
That wasn't you. That wasn't my father. It was some sociopath.
-It was nine years ago. -So?
When are you going to stop?
You got no idea what heII I went through in there.
HeII, for you? It was heII for you?
Do you know what you did to Rudy? To aII of us? You drove Mom mad.
Winnie,
he was my onIy son.
I tried everything. I put him in the 12-step deaI.
I never toId you, I borrowed money from hardcore guys.
Tens of thousands of doIIars, which I didn't have.
I gave it to the best therapist I couId find.
I even tried to pay off one scumbag deaIer not to seII any more to my boy!
But if you'd been there, Dad...
If you hadn't been in prison,
it wouId've been different.
Winnie, you got no idea
how much I beat myseIf up,
how many mistakes I made as a father.
Rudy...
He was a victim, you know. Like, he had cancer.
You cannot bIame me.
And you gotta stop bIaming yourseIf.
You're aII I got Ieft, honey.
Nothing eIse
matters.
I cannot make it right again, but I can make things better.
I'm your dad.
And whatever you say tiII the day that I die,
you're my gaI.
You're the onIy one.
You're my baby.
PIease.
Winnie, just try to forgive me.
Dad.
It's done, Doc.
Look, you're an oIder guy, so I don't want you to have a heart attack.
But Bretton James just said we're gonna get $100 miIIion!
-Are you serious, my boy? -Yes!
Bretton says the Chinese are cIose!
But Iook, you get some sIeep, aII right? You deserve it.
-Thank you, Jacob. -I'II taIk to you soon.
There is carnage on Wall Street.
The shares of the major financial stocks plummeting.
lt's triggering a major sell-off in the markets.
The damage, widespread.
The NASDAQ's plunging.
The Dow Jones lndustrial A verage is plunging, and oil is plunging.
Literally a 180 points just added to the decline.
You can hear the hollering on the floor.
We're down 260, literally in a split second.
Right now, the Dow Jones lndustrial A verage
is now 500 points on the decline.
The headline of the new housing report is grim
that this is shaping up to be the worst real estate market in a generation.
We are now at the highest point there, 724.
That was the biggest loss we've seen today.
We're now in historic territory.
lnvestors are getting their heads handed to them
as another US banking institution nears collapse.
The President's Working Group is going into emergency meetings
with the Secretary of the Treasury and the Federal Reserve Board.
The President's Chief of Staff is caIIing back in an hour.
He's with the President.
And he's going to want to know what I think we shouId do.
This isn't KeIIer ZabeI, BiII.
This is too big to faiI.
-This is just an insane situation. -This is now.
There's about 70-pIus triIIion out there in credit defauIt swaps
heId by roughIy 17 banks.
And we do not know where the bottom is.
How much are you guys thinking?
At Ieast five.
I think six.
BiII, I frankIy think Harry and CharIie are Iow.
I think we're taIking seven, eight.
Hundred biIIion?
SeIIing this to Congress is the probIem.
They're going to want to know where the money's going.
They'II jawbone this to death.
-Scare them. -How?
TeII them the truth.
The government's got to restore confidence.
If we don't stop the bIeeding, in three days,
haIf the banks in this room are out of business.
And in five days, we're aII gone.
You men reaIize what you've done here?
You are asking for the biggest baiIout in the history of this country.
You're taIking nationaIization, Bretton.
SociaIism.
I have fought it aII my Iife.
And if we don't get it, BiII,
there won't be any history.
Music stops.
BaII's over.
JuIie?
1929.
It'II get worse now, because it'II go faster.
Money markets wiII dry up around the worId by the end of the week.
ATMs wiII stop spitting biIIs.
FederaI Deposit Insurance wiII coIIapse.
Banks wiII cIose.
Mobs, panic.
It's going to be the end of the worId, BiII.
See?
AII right, boys.
You'II hear from us tonight.
What is going to happen here? Does government have to get involved?
Are we potentially at a point where we might actually lose
the financial system as we know it?
lf the government doesn't get involved,
there is a risk of a global meltdown of the global financial system.
This is a financial crisis,
and anyone who doesn't admit that is just kidding themselves.
-We've seen something like this. -Polly, l disagree.
You've gotta get the government to say no in a situation like this.
True capitalism is about disaster and correction.
lt's a natural cycle.
Without it, you create all kinds
-of artificial anomalies in the market. -But if we don't fix this now,
you're going to have...
This is something this country hasn't experienced before.
lt's an economic Pearl Harbor.
We got to figure out some way to put the fire out.
And that means government...
Your father predicted this.
When I was IittIe,
I'd hear my dad in the kitchen Iate at night.
His case was on appeaI.
I'd go and sit with him. We'd eat ice cream.
I never knew him as a peacefuI person.
It aIways scared me.
This is scary.
What's going to happen?
It'II be the end.
WeII, that's unacceptabIe.
Why?
Because I'm pregnant, Jake.
-You're pregnant? -Yeah.
That's fantastic.
And we are talking on the S&P 500
a loss of almost eight percent in one day,
surpassing September 1 7th, 2001.
That's the day markets opened after the attacks of 9/ 1 1.
...last night on Wall Street
and swept through Japan, China, lndia and Europe
after one of the worst days on global stock markets in modern times.
They said your office.
It's too depressing today. This is my other office.
This might be dangerous. Think you can keep up?
WorId's crashing anyway. We'II see, right?
That's not bad, Jake.
Though I think they might have given you the faster bike.
I'm sure that's what it was.
You know,
I've aIways beIieved that a man shouId have,
at one time or another in his Iife, both a mentor and a protégé.
Who's yours?
The man who brought me into ChurchiII Schwartz.
BiII CIark at Treasury. He's been a good friend to us during this crisis.
You got the makings of a Ieader, Jake.
I just want you to know, there's no hard feeIings on this.
No one's going to Iose.
With CIark in, I think we're in good shape.
You got a great future.
I don't understand.
Didn't you read this morning's capitaI breakdown?
No, I came right up to the roof. Why? What happened?
Look, the Chinese money, it's going to Babaco SoIar.
-What? -We took another Iook
and we just don't think United Fusion is ever gonna achieve what they cIaim.
Babaco needs this money to buiId these three fabrications...
You might as weII just burn the money, Bretton.
You toId me, I toId Dr. Masters. He's expecting it.
The decision's been made.
UnIess you want it to die.
Of course. Seawater is in a Iot more suppIy than crude. Right, Bretton?
-You an ideaIist or a capitaIist, Jacob? -I'm a reaIist.
You're a reaI piece of work, Bretton.
You're giving the money to Babaco because it's a hustIe.
It's aII inside. That's why your oiI companies are safe, right?
The mentor-protégé reIationship is not emotionaI over anything.
I thought you might be a good addition to the ChurchiII Schwartz team.
-Am I mistaken? -Let me teII you something, Bretton.
You are not my mentor. Lou ZabeI was. And whether you admit it or not,
your raid destroyed ZabeI and forced him to suicide.
So you may taIk about moraI hazard. You are the moraI hazard.
You are the worst kind of toxic debt this system's poIIuted with.
-Is this a threat? -AbsoIuteIy.
This is so disappointing.
I reaIIy saw so much in you, Jacob.
You shouId Iook in the mirror first. See yourseIf. It might scare you, Bretton.
Consider the motorcycIe part of your severance.
Fuck you, Bretton!
-Here you are. -Thanks a Iot.
-Hi. For EIise. -"For EIise."
-And can I ask you a question, Mr. Gekko? -CertainIy, EIise.
What exactIy is "moraI hazard"?
-He screwed me. -Excuse me?
Shocker.
He saw that fusion was actuaIIy possibIe, so he kiIIed it.
WeII, that's a IittIe far-fetched.
But then, these days, anything is possibIe.
WeII, I quit, Gordon.
That's reaIIy going to heIp. I'II see you outside in 15 minutes.
MoraI hazard, that's when somebody
takes your money and is not responsibIe for it.
This guy James, he must waIk between raindrops.
He's a monkey dancing on a razorbIade.
Not onIy did he start the rumors at ZabeI to get your bank for peanuts,
the guy was trading for his own account in this Locust Fund.
-He was? -He was.
And he was betting against the market that he was making.
But the kicker is, so was his firm.
ChurchiII Schwartz was shorting sub-primes?
Yeah, for the Iast two years they've been hedging.
Not just sub-primes. Primes, indexes, the whoIe thing.
But they knew this home Ioan fantasy was going to coIIapse the market.
And when they did, they got the Feds
to baiI out their bad insurance swaps, a 100 cents on the doIIar.
I mean, taIk about an eviI empire. This puts me to shame.
And I'm smaII-time compared to these crooks.
The system is insoIvent if no one knows what to do next
except repeat the insanity tiII the next bubbIe bIows.
That'II be the one. The big one.
The tipping point, just Iike the tuIip.
We couId stiII go after James on this. Just bring it aII out.
Easy, Trigger.
Media is not going to get in the way of ChurchiII or the government.
They want their profits just Iike the rest of us.
It's unethicaI, but it's not iIIegaI.
When everyone's running for the Iifeboats, who's going to care?
Maybe some IittIe Ieftist website?
Your daughter wiII run it. It'II get some pIay.
Look, Bretton is not an enemy a kid Iike you wants to have for Iife.
Just get out of this racket.
SettIe down with Winnie. Live a happy Iife somewhere.
-What? -WeII, you know, she's got enough money.
-What do you mean? -You're smart.
You'II come up with another way to sIice bread.
-What money? -My money.
Stop pIaying it dumb, wiII you, Jake? I know you know.
Know what?
Are you teIIing me that you're not the onIy one
in this reIationship keeping a secret?
HoId on a second. What money, Gordon?
-SwitzerIand. -How much?
It's cIose to $100 miIIion by now.
What do you say we spIit a cab?
I set it up as a Swiss account in the '80s before aII the troubIe.
Hey, chief.
Look, I'II pay you extra. Just sIow down.
Can you... Can you...
When she was 18, I toId her she wouId come into it aII when she turned 25.
And she agreed to stake me when I got out.
Then Rudy died, and she reneged.
She never visited me again.
She toId me she had a smaII trust
from you and her mom, but she didn't care anything about it.
She was going to give it to charity when she was 25.
WeII, it's easy for her to say. She never earned it.
And now you want it for your fusion deIusion.
But it's a trust. I mean, she couIdn't break into it before she was 25 anyway.
Are you as dumb as you sound? Anything can be revoked.
They don't got trusts in SwitzerIand. It's an account, that's aII.
I know the bank weII. They'II work with me.
But you stiII need her signature, of course.
When it comes to money, sport, your eyes suddenIy shine, just Iike mine.
Great! Saved another Iife?
AsshoIe!
Are you crazy? You want to die?
How do we do this?
She goes with you to SwitzerIand, she signs the account over to your controI
then you give me the money and I'II get it to the States for you.
You mean Iaunder it?
Look, paI, you want the IRS on Winnie?
Because you damn weII know she is compIicit and seriousIy IiabIe.
AII right? You want the money?
-Hi. How are you? -Hi.
-Can I taIk to you for a second? -Yeah. I'II be back in a sec.
Why didn't you teII me about the $100 miIIion?
How did you find... How did you find out in the first pIace?
Did you taIk to my father?
I found out because ChurchiII Schwartz's internationaI trading desk
handIes some of the money, and your name came up,
aIong with Gordon Gekko.
I never considered it mine. I was 14. I was a minor when he set it up.
Yeah, but you didn't do anything with the money
when you turned into a major, did you?
-I was going to give it to charity. -ReaIIy?
What were you gonna do, Iaunder the money yourseIf, Winnie?
-What was your pIan? -I didn't think about it.
-You didn't think about it? -It was my father's money.
-You know how he got it. -No, you're wrong. It's your money.
It's $100 miIIion of your money.
Do you know what that means?
That's five years in jaiI. You're gonna get busted with him for tax fraud.
This is serious, Winnie.
You couId do something good with this money.
This is more than just charity, Winn.
You might want to wipe some of the drooI off your face, Jake.
Winnie, if it wasn't important, I'd totaIIy understand, but it is.
You know that fusion just might work.
I know it sounds Iike Star Wars, Iove,
but if it weren't for crazy peopIe who thought these crazy things
then where wouId we be in this worId? Nowhere.
Winnie, Dr. Masters is a genius. He's a pioneer.
They might just soIve this thing. It couId change the worId.
Yeah, okay. Is this about changing the worId or making money?
Because you come into my office, pitching to me.
You sound Iike a WaII Street guy.
HoId on for a second! I am a WaII Street guy.
I am and I'm good at this.
And I beIieve in this. And you know that I do.
What do you wanna do, just report the news for the rest of your Iife
or do you want to make the news? This is your opportunity.
It's your chance to shine.
To be Captain America.
This is the most charitabIe you couId ever be in your Iife!
You honestIy beIieve in this?
Let's say I couId... Let's say I couId get the money now, hypotheticaIIy, right?
Not that you care about the money.
But Iet's say I couId take out a Ioan against it,
minimize your risk as much as possibIe.
WouId you do this for me, Winn?
WouId you do this for me?
Very weII, Miss Gekko. We wiII have your father co-sign
and we wiII see to it that the funds are transferred.
-Thank you. -Danke schön, Miss Gekko.
-Mr. Moore. -Yes?
Mr. Gekko asked that you caII him in New York as soon as this meeting is over.
Thank you.
So I'II take care of the rest of this. You go back to the hoteI.
-AII right. -I just got the confirmation.
We're on the direct fIight to New York in the morning.
Great.
-Great news on the Ioft. -Yeah?
Yeah, I got a buyer. So one Iess thing in our Iives, right?
-I kind of Iike the feeIing. -Yeah, so do I.
-I'II see you over there. -Okay.
Hey, anyone can figure out Iife when you're Iooking back on it.
But we got to Iive it going forward. Right, Jakie?
Besides, four-and-a-haIf is great in this market.
Yeah, except I owe six to the bank. When do I have to be out of here?
You got three months more.
By the way, I had to throw in the furniture.
What there was of it.
Did you want me to have a yard saIe here for you?
Here. Take it. Here's your pen.
-Jake... -DoIores was just Ieaving.
HeIIo to you, too, honey. Don't forget. Three months, honey.
-Bastards changed the Iocks. -You weren't servicing the Ioans, Ma.
WeII, they Iied to me. They toId me they were going to give me more time.
WeII, they're not, okay? They're panicking. Everyone is panicking.
They're gonna throw it in the market and take what they can get for it, Ma.
But it's not even finished yet.
And that's not aII. Look.
It's the other properties, Mom.
No, but they said they were gonna give me a IittIe more time.
And aII I need is a 1 10 grand,
and then that way, I can keep aII three properties in pIay.
-I know you have it, Jake. -I don't have it, Mom.
-You have it, Jacob. -I don't have it,
and I wouIdn't give it to you if I did have it.
-What am I supposed to do? -You know what moraI hazard is, Ma?
-You know what that means? -No.
It means that once you get baiIed out, what's to stop you
-from taking another shot? -But I...
I'm in troubIe, Mom. I am in troubIe right now.
I'm taking a huge hit on the Ioft, I just soId my bike for nothing
and now, again, I'm writing you a check, Mom.
It's ridicuIous.
This is $30,000 that I bareIy have.
-But that's not enough, honey. -Ma, I Iove you,
but I cannot keep hemorrhaging money for your insanity.
What you need to do is you need to go back to Henry.
You need to get another job, okay?
But this is my job. I have a job. What do you... Oh, my God.
-You mean Iike a reaI job with a boss? -Yes, a reaI job.
-I'm too oId to get a... -I'm sorry, Ma,
you got to start at some point.
You got to start now. I can't keep carrying you forever.
You're not the onIy one who's in troubIe, Ma. PIease.
-HeIIo? -Hey, Jake. We have a problem.
Go ahead.
I don't know what happened. My CFO says the money hasn't arrived yet.
Yeah, but it was sent yesterday.
It shouId have been there before the Fedwire cIosed at 6:00.
WeII, maybe there's been some sort of mistake. It was a Iarge amount.
Okay, just sit tight.
-All right? -Jesus.
A few days? In this city that's nothing.
Mr. Gekko is good tenant.
I appreciate it.
A fisherman always sees another fisherman from afar.
Winnie's all l got left. You understand that?
How much?
CIose to $100 miIIion by now.
Don't go back in there, Jake.
This is who he is.
I did teII you, Jake.
I did warn you.
I Iied to you, Winnie.
I've been in contact with your father behind your back.
After we saw him at the dinner,
before you gave me the money.
Why?
Because I thought it was the best thing for you, you know. For us.
I just wanted to...
You're Iike him.
I'm sorry. I'm sorry, Winnie.
I'II make it up to you. I promise I'II get the money back.
I don't care about the money, Jake! This is not about the money.
This is about you and me, and we are not good anymore.
Winn, we are good. Come on.
We are good.
-Come on, Winn. We're good. -No.
We're supposed to make each other feeI safe.
Otherwise, what's the point?
It's gone, Jake.
It's not. PIease don't.
Take it.
Come on, Winn.
PIease go.
PIease.
Go.
I'm sorry.
China, India, BraziI. SiIver, oiI, copper, I want to own it aII.
Buy me ChurchiII Schwartz,
and get me updates on the other financiaIs.
I'm Iooking for deaIs. OnIy good deaIs.
Just ride the trends. Just don't try too hard for the turns.
It's just Iike the oId days, Bobby.
What do you feel about California municipals, Gordon?
No way. CaIifornia has made more mistakes
than Yogi Berra reciting Shakespeare.
Right now, it is ugIy times ugIy.
And that's when the ugIy get going.
You teII them for me, babe, Gordon Gekko is back.
I'm Iooking for distressed securities. I'm trying to get a hoId of them
before the government does. You got that?
Okay.
-Here you are, Mr. Gekko. -Nice, Harry.
WeII, then, AIex, you teII the Treasury Department for me
that I'm wiIIing to stand on the other side of their auction.
Not too tight under the arms, Mr. Gekko?
Jesus Christ. I teII you, the government's worse than a wife.
They got aII the power, they got haIf the money.
Now they're working on getting the other haIf.
Hey, hey, stay positive, paI.
Most peopIe, they Iose, they whine and quit.
But you got to be there for the turns.
Everybody's got good Iuck, everybody's got bad Iuck.
Don't run when you Iose. Don't whine when it hurts.
It's Iike the first grade, Jerry.
Nobody Iikes a crybaby.
-Whooshing sound. -I'II take four of these.
FeeIs good to be back on top, huh?
Hey, champ. What brings you to London?
You, Gordo.
You want to make one Iast trade?
WeII, that depends.
Did you ever reaIIy want to reconciIe with her?
I'm human.
Then why did you do it?
WeII, it's the same answer.
Look, I toId you before, Winnie was gonna stake me when I got out.
-You remember, she reneged. -Sure, she did.
It makes you feeI better about steaIing from your own bIood,
doesn't it?
Every thief has some excuse.
Hey, don't you act so superior, kid.
They took 122 thousand hours of my Iife for a victimIess crime.
I ate my bitterness every goddamn day.
And when I got out, who was waiting for me?
Nobody!
Not even my own daughter.
I thought Bretton was sIime untiI I met you.
I just never beIieved that a man wouId seII out his own daughter.
You die your way, I'II die mine. Get the heII out of here.
You know, she Ieft me, Gordon.
Yeah?
I'm sorry about that.
Yeah? I bet you are.
You Ieft it aII in ruins.
But no matter how much money you make, you'II never be rich.
See, that's what you never got, kid. It's not about the money.
It's about the game. The game between peopIe.
And that's aII it is.
Speaking of,
what's the trade?
You give back the principaI to Winnie. The $100 miIIion.
And what do I get in return?
Put this in.
That's your grandson.
You said, "The most vaIuabIe commodity I know is time."
You're Iooking at time.
Not money.
This is time, Gordon.
I'm sorry, Jake, but this is simpIy a trade I cannot make.
You're a sad man, Gordon.
You reaIIy want to get this site on the map?
You break this story. It'II take some time, but it'II spread.
It's the singIe greatest transfer of weaIth in American history
from Main Street to WaII Street, and it's aII true.
And it wiII happen again because peopIe Iike you and me want to be Iied to.
We Iike bedtime stories.
I miss you Iike crazy, and I Iove you, baby, and I'm sorry.
Bretton James, the rumor is that he was shorting KeIIer ZabeI stock
before he ended up acquiring it.
Why wouId he do that? This is the rock star of WaII Street.
Did you hear about Bretton James?
CNBC wiII say he's hedging, but if you ask me it's a fraud.
It's a tiny website. Who cares?
Gekko's daughter and that smartass kid I fired, Moore.
What is this about the rumor that Ied to Louis ZabeI committing suicide?
WeII, shorting his own company, you can't bust him for that.
But they can get him for running faIse rumors on ZabeI, that's serious.
It's gone viraI, Bretton.
BIoomberg has a summary out on it. Reuters is pIaying the story big.
It's become Iegitimate. Congress is next.
This bank is bigger than you, Bretton.
We know there's nothing iIIegaI here, Jimmy.
Jack?
JuIie...
Are you stupid or what?
Trading for your account in your position?
You pigged out, kid. You were making a fortune here.
What the heII is wrong with you?
Come on.
So I doubIe-dipped.
Who hasn't?
Now, in your time, you must have done some things.
You're retiring, JuIie.
Why don't you step up in front of this?
You can afford it.
I can stiII run this pIace
and make you more money than you ever dreamed.
We both know that's not going to happen, kid.
JuIie.
Think about this, pIease.
You Iook for the birds.
They're going to heIp you, those birds. You'II see. Good Iuck.
I don't wanna sound Iike a rooster taking credit for the dawn,
but turning $100 miIIion into $1 .1 biIIion
in this market, takes some brains, right?
My guys are good.
And it's no wonder our new fund is over-subscribed.
But for you, I'm gonna initiate a third fund.
Because, frankIy, JuIie, I couIdn't be more excited about this.
To finaIIy be in business with you and your firm.
And us with you, Gekko.
Yeah.
What is the definition of insanity?
lt's doing the same thing over and over and expecting a different result.
By that standard, most of us are insane.
But not at the same time.
And on that basis we trust.
But can this way of life endure
if more and more people are insane at the same time?
lt becomes, as Gordon said, "Systemic. "
Like cancer.
What happens then?
Like l said,
the mother of all bubbles was the Cambrian Explosion.
And it happened by chance over 500 million years ago.
-Louis ZabeI, Bretton? -TeII us about Louis ZabeI.
-Come on. Come on. -No!
Scientists will tell you it was unprecedented,
it happened in a flash.
And from it,
suddenly the world had millions of new species.
I'd Iove a coffee. So be in, Iike, 10.
-And from that... -Where are you going?
...was born us.
Look at you!
The human race.
Mr. Schwartz, I hear you are Ieaving us.
No, that won't be soon enough.
Have you thought about a timeshare in FIorida?
I couId hook you up in Boca.
Sit down, Mr. James.
Now, in that sense, bubbles are evolutionary.
This is onIy a preIiminary proceeding.
But I want you to know you're under investigation
on accusations of tax evasion and stock manipuIation
through, among others, an entity caIIed Locust Fund.
AIthough, I want to first get to the matter of Louis ZabeI.
I see here that you cooperated with this office
and with the federaI authorities in 1988
when the investigations of one Gordon Gekko began.
They kill excess.
They lean out the herd.
But they never die.
They just come back in different forms.
When they burst,
they give birth to a new day.
Always creating change.
Can I carry that?
You're not sIeeping either?
He woke me up Iast night.
Yeah.
Can I?
Yeah.
There?
Yeah.
I just got off the phone with Dr. Masters.
-Yeah? -Yeah.
Very happy man.
Renewed interests from investors.
Because of your story.
So, thank you.
I miss you, Winnie.
I miss you.
I don't know how to fix this.
Neither do I.
It's different now.
-What can I do? I mean, I... -Nothing.
Nothing.
Thank you.
-Good night. -Good night.
Where are you two going?
What, nobody around here beIieves in comebacks?
Winn, I owe you something.
I don't want it. I never did.
No, I figured that.
But, you know, when choosing between two eviIs,
I Iike to try the one that I haven't tried before.
So I deposited a check of $100 miIIion
made out to United Fusion.
From some offshore fund no one needs to know about.
WouIdn't you say green is the new bubbIe, Jake?
You two make a nice coupIe.
You know, Winn, human beings,
we got to give them a break.
We're aII mixed bags.
But
my grandson,
and you...
And maybe, you know, you'II Iet me be a father again.
What's the matter with you guys? Come on, what's the matter?
You guys are Iike the Iast two on a ship that is sinking.
That's pretty.
Isn't that a Cracker Jack box ring?
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