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re: Wolf of Wall Street? What was the lesson? SPOILERS
Posted on 1/27/14 at 10:50 am to L S Usetheforce
Posted on 1/27/14 at 10:50 am to L S Usetheforce
Belfort invented stock manipulation?
He was about 100 years behind the first stock manipulators in the US. Jay Gould, James Keene, Henry Frick and others did this in the late 1800s and early 1900s with impunity.
He was about 100 years behind the first stock manipulators in the US. Jay Gould, James Keene, Henry Frick and others did this in the late 1800s and early 1900s with impunity.
2
Posted on 1/27/14 at 10:57 am to LSU0358
quote:
He was about 100 years behind the first stock manipulators in the US. Jay Gould, James Keene, Henry Frick and others did this in the late 1800s and early 1900s with impunity.
Not playing with the type of money Belfort was.
Posted on 1/27/14 at 10:59 am to L S Usetheforce
I think this movie was just to show the complete lunacy of his life at the time. Not every movie has to have a lesson...and if you'd like to know more about Belfort, read his books or just google him. He makes a lot of references to how stupid he was and how he regrets a lot of the things he did in the book.
Posted on 1/27/14 at 11:02 am to jordan21210
quote:
He makes a lot of references to how stupid he was and how he regrets a lot of the things he did in the book.
frick that guy..........almost killed his own daughter.
Posted on 1/27/14 at 11:22 am to LSU0358
The lesson here is that there is always room for change, if Jordan can change his life for the good, you can too.
Posted on 1/27/14 at 11:26 am to DirtyMikeandtheBoys
quote:
All I know is, after the movie if someone told me: You can live like Belfort for 10 years if you are willing to go to prison for 3 I'd do it in a fricking heart beat...
Kinda my take home from it.
Also, if you google him now, he lives in a house in Malibu with a new wife, apparently has made another couple of million from book deals / his life story, and he is now paid as a motivation speaker.
Also, he has not been paying restitution. And there is no telling how much more he is and has made off the books.
Seems like the dude won and is still winning.
This post was edited on 1/27/14 at 11:30 am
Posted on 1/27/14 at 11:40 am to Tiger n Miami AU83
quote:
Also, he has not been paying restitution
Not true. He has said in an interview with that British arse Morgan that he has paid 12 million
This post was edited on 1/27/14 at 11:41 am
Posted on 1/27/14 at 11:42 am to Tiger n Miami AU83
quote:
Seems like the dude won and is still winning.
that's what I thought, and it's a similar to what I took from Catch Me If You Can: if you're good enough at being a con artist, you can even con your way out of being punished for your crimes--and, extending that, you can con people into believing that you're sorry for those crimes and that you've learned your lesson/change.
It's actually a pretty disturbing/dark lesson.
Posted on 1/27/14 at 11:55 am to Tiger n Miami AU83
quote:
Seems like the dude won and is still winning.
Survival of the fittest mofos.
The people saying they wouldn't do it, ain't ever gonna make it to the top anyway.
Not saying you can't get there legally, and morally. But you gotta have the mindset that if it comes down to it, I am going to do whatever it takes to get what I want/need.
Posted on 1/27/14 at 1:01 pm to Tiger n Miami AU83
quote:
Also, if you google him now, he lives in a house in Malibu with a new wife, apparently has made another couple of million from book deals / his life story, and he is now paid as a motivation speaker. Also, he has not been paying restitution. And there is no telling how much more he is and has made off the books.
He gets enough to "live" on and the rest goes to restitution. Supposedly 100% of his cut from the movie goes toward restitution.
He also maintains contact with his ex wife and considers her new husband a good friend...and he has, what seems to be, a good relationship with both of his kids.
Posted on 1/27/14 at 1:10 pm to Rustontiger43
quote:only 90 more million to go
Not true. He has said in an interview with that British arse Morgan that he has paid 12 million
what a great man
Posted on 1/27/14 at 1:12 pm to Pilot Tiger
I know it sounds like I'm sticking up for him, and maybe in a way I am, but how else do you expect him to pay back that huge sum of money? Sure, he sucks for getting himself to that point in the first place, we know that...but if you have a better way for him to pay back $100+ million and still manage to live, then I'm sure he'd love to hear it.
Posted on 1/27/14 at 1:14 pm to jordan21210
he probably doesn't have any assets hidden, like, at all....anywhere
Posted on 1/27/14 at 1:17 pm to Pilot Tiger
I don't think he should have to pay back shite.
I admire the dude for his gumption, resolve, where with all, and can do attitude.
Ya'll think that money is going to the victims?
You must think I have ever ridden the frickin CATS buses in BR as well.
I admire the dude for his gumption, resolve, where with all, and can do attitude.
Ya'll think that money is going to the victims?
You must think I have ever ridden the frickin CATS buses in BR as well.This post was edited on 1/27/14 at 1:18 pm
Posted on 1/27/14 at 2:33 pm to DirtyMikeandtheBoys
federal sentencing guidelines mandate the amount of restitution. However, I have no problem with making him pay back if he indeed defrauded people, which he did.
Posted on 1/27/14 at 2:42 pm to prplhze2000
Read some of Matt Taibi's reporting on the Subprime market collapse (regardless of your political beliefs). What Belfort did was not altogether different than what Goldman Sachs did leading to the crash. Not only did the Goldman guys escape prison, they got bailed out by the US government to the tune of billions of dollars.
Belfort and his exploits are actually small potatoes compared to what Goldman Sachs has done and likely continues to do.
Belfort and his exploits are actually small potatoes compared to what Goldman Sachs has done and likely continues to do.
Posted on 1/27/14 at 4:01 pm to L S Usetheforce
Belfort was a penny stock shyster who got too big for his britches. He has a very entertaining story though. Compared to GS and others in the CDS game that caused the 2008 crash, Belfort was small potatoes, yet he went to jail.
At the time of Jay Gould's death in 1892 he was worth ~$120 million dollars. Or roughly 50% more than Belforte had in mid 1990 dollars. Adjusting Goulds wealth to mid 90 dollars and he'd be in the mid 50 billion dollar range, or roughly 100 times more money than Belforte.
At the time of Jay Gould's death in 1892 he was worth ~$120 million dollars. Or roughly 50% more than Belforte had in mid 1990 dollars. Adjusting Goulds wealth to mid 90 dollars and he'd be in the mid 50 billion dollar range, or roughly 100 times more money than Belforte.
This post was edited on 1/27/14 at 4:16 pm
Posted on 1/27/14 at 6:56 pm to DeltaDoc
quote:
In 2011, Red Granite Pictures purchased the rights to The Wolf and its sequel for $1.045 million, according to the letter (it had been optioned by Warner Brothers in 2007), of which Belfort got $940,500; an additional $250,000 is forthcoming. That same year, the government contends, Belfort made $21,000 in restitution payments. In 2012 the government received $125,000 directly from Red Granite, bringing his total contributions for that year to $158,000. The letter sketches out estimates of Belfort’s speaking and consulting income over the past few years—some of the income numbers have been blacked out for privacy purposes—and concludes that he’s been underpaying, requesting that the court find Belfort in default.
That is just in one year. Also,
quote:
In the meantime, Belfort is working on his next book while spending time with his kids, who are 20, 18, and 16, and preparing for the onslaught of publicity that will accompany the movie. He can give only so many speeches a year—he finds the constant travel to be something of a grind.
Additionally, he only paid $10M of what he made when he did his plea deal.
quote:
So far, most of the money he’s paid toward restitution, the letter says, consists of $10.4 million in assets he was required to forfeit to the government.
My guess is the dude has a frickload still stashed away.
Posted on 1/27/14 at 6:58 pm to Tiger n Miami AU83
quote:
What was the lesson?
I learned a lot about quaaludes
Posted on 1/27/14 at 6:58 pm to Tiger n Miami AU83
Also, he thinks $10k a day for him to speak is not worth his time.
I still say he "won" and is still winning.
quote:
How much does he get paid to do all this? “Let’s just say, you know, my time is worth more than $5,000 a day. Well, $10,000 a day,” he says. “Say more than five or ten.”
I still say he "won" and is still winning.
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