The Wolf of Wall Street
Our view is a bit different from the side of frauds. One only has to see the destruction that fraud wrecks upon their victims to find what was done to be utterly reprehensible. The brokers in the film were everything I came to utterly detest in the brokerage business. Be it Irvine, Ca, Las Vegas, NV, Salt Lake City, UT, Boca Raton, FL – or Lake Success, NY (not Wall Street) these regional hives of chicanery and fraud caused irreparable damage to hundreds of thousands of people and the business of capital raising itself. The people lost their savings, and some even committed suicide after they had been duped, the large firms reacted by making what some of the smaller firms did too expensive with the idea of snaring the capital raining and venture investing for themselves. The only real end results was the cost of capital that was to be raised in a public offering – after the rules and regulations were put into place – had risen to 24% of every dollar raised (according to a study by the SEC on Small Business Capital Formation).
The other interesting note, is the author, in crafting his memoirs is still for stuffing. Listing to the investigators and prosecutors of the criminal, the criminal author took great liberties with the facts and oddly enough all ended up in his favor. But what is to be expected of a lying thief?
So now the thief has a funny movie showing his excess of life, Quaaludes, big cars, big boats, big life and to what end? All is lost as the means of harvesting money was a crime. This is a movie that glorifies shame and excuses a crook. What was done by this man and his minions was in one word – evil.
He was not the Wolf of Wall Street, but the Louse of Long Island.
So where are the funny movies of Bernard Madoff and Sir Alan Stanford coming out?