What did Jordan Belfort do that was so bad, aside from being a shitty husband and father? I know he started off by ripping off middle class people, but that was only so long. It looks like the major part of his career was spent robbing rich motherfuckers. Why should I be bothered about that?
If anything, I'm a little irritated that it's so difficult to get into a position where you can do what he did.
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Belfort did nothing wrong
He robbed people of their retirement funds, screwed over his legit employees who lost everything when the company folded.
He was responsible for defrauding investors of 100s of millions via pump and dump schemes.
God DiCaprio has such a punchable face. It fucking angers me so much
dude... we did so much drugs
● penny stocks!
● haha look we ballin now
dudeeeeee...... LUUUUUDDEEESS HAHA XD
dudë......... fat jew friend is supposed to be funny but he really isn't.... xD maybe if he was alittle fatter
dude... I kept up the scam even after they warned me
dude.... the police comin after me
dudë.... I crashed my lambo xD
dude... my wife left me
dudë.... im in jail but now I do seminars and im alright xDDD hahahaha
what a shitty movie
like an animated picture book of a shallow as shit MTV teenage rendition of rich daddy pants wallstreet scammer guy
It's pretty shitty (and highly illegal) to ruin the lives of people on the verge of retirement by cheating them out of everything they've saved up for.
The movie fails to go into any sort of detail about what his operation actually involved, but I guess Scorsese wanted more quirky party scenes.
Okay? I mean, who cares? It's not like they're real people. Once again, why should I care about him fucking over wealthy people?
Sorry, I forgot that once you start making a success of your life you transform into an incorporeal being and cease to be real.
I love this movie
fuck moralfags
did we watch the same movie? I didn't get the sense it was trying to make you hate him for anything other than his relationship with his family. if anything he was made to be endearing as far as his work was concerned (same with all scorsese crime movies)
this
The movie did a bad job showing what Belfort did wrong because DUDE WALL STREET IS EVIL LMAO. The guy is a fucking prick and I'm surprised none of poor saps who lost everything never tried to take him out.
They exploit our labor, give themselves raises while cutting employment and ship jobs overseas at the expense of the country that made it possible for them to thrive. Why should I give even the slightest amount of a fuck about whether they live or die?
>Belfort's scam only screwed over faceless suits
No
Christ dude we get it. You hate rich successful businessmen. Anyway it's a movie if you don't care about the characters and what they do then why watch it? It's based on a real story so you should have realized before you watched it whether you would enjoy it.
There are plenty of middle class people who are shareholders in companies
Apologies, I also forgot that anyone who has ever made or saved a bit of money is part of a hivemind and is jointly liable for everything bad that any other remotely wealthy person does.
>Once again, why should I care about him fucking over wealthy people?
They weren't wealthy people at all. They targeted regular low-middle-class individuals via cold calling, sold them dogshit penny stocks, pumped the prices and then refused to sell off their investor's stocks until they had milked them for everything they were worth.
>be wage slave
>spend 50 years of life working and saving money for retirement
>some guy says he can make me more money
>ends up being a fraud and screwing me over
>50 years of hard work down the drain
>to old to work and now a even bigger burden on tax payers
Sure the people who gave him money were stupid but anyone outside the financial industry would not have been able to see him as a conman.
Also as usual the tax payers are the ones getting fucked in the ass so every time you pay tax think of it being used to subsidise the finance industry for screwing us over and getting caught
Belfort's scam was mostly effective on inexperienced investors, so not likely to be people responsible for lots of jobs in shipping etc.
In the beginning they did, and yes, that was a very shitty thing that they did. But when their business was up and running at full steam, the movie made it clear that they concentrated on wealthy people.
If the real Jordan Belfort ripped off real people throughout his career, then Scorsese should've been more explicit about it, because I never got the impression that he was targeting anyone but the elite after he became successful.
I'm a broke college student but on paper i'm decently wealthy shareholder
Wealthy people and faceless suits aren't normally interested in penny stocks
The "business" never changed, they just prettied themselves up so suckers wouldn't realize that it was not a real Wall Street firm. The hard sell and throwing around money like it's nothing does not work on serious investors. He scammed the old, inexperienced and desperate.
He screwed over legitimate business that was constructive to society
They didn't change their business model at all. It was always a boiler-room operation. They just switched to inflating IPOs later.
He sort of explains it in that one scene if you pay real close attention. The one where he's talking to the camera, then says:
"You don't really care, all that matters is we had more money than we knew what to do with."
Basically, he would start a company, go public with it and set the stock price for the company down to like a penny. Then, he'd give his friends like the Mexican drug dealer dude a shit load of money to buy all the stocks, thus making the company look like t was booming and shooting the stock price up to a couple hundred dollars. At this point, they would turn around and sell all the stocks back to the NASDAQ or whoever fuckingn pays that money out, and give the Mexican dude a small cut of the money while keeping millions for themselves in their offshore Swedish accounts.
Besides breaking laws by committing fraud, he was scamming a bunch of money from who I assume are a bunch of Jews. So when Jonah Hill let the cat out of the bag while he was on the phone, they used all of their money to come down on him hard, and seize his assets at the same time.
The fact that he was zonked out on a shit load of a felony a pop pills, and crashed a motor vehicle while intoxicated with his daughter in the car in a stunt that pissed his wife off and made her want to sue him in a divorce/custody/gimme money suite was just icing on the cake, and a convenient excuse to throw him in the slammer.
>sell all the stocks back to the NASDAQ or whoever fuckingn pays that money out
To be more exact, he didn't start any companies, he just underwrote legitimate IPOs in exchange for stock. Then he inflated the price, sold the stock to investors through high-pressure cold-calling so that when the stock inevitable cratered, he wasn't out anything. You don't just sell stuff back to the NASDAQ though. It's just an exchange. He mostly scammed upper-middle class investors.
Here's an article with some interviews if you're interested:
dealbook.nytimes.com
Because robbing the middle class and the working class really isn't an issue. The issue was that he robbed job creators, the people who actually matter. Poor "people" don't actually matter and we'd be better off with out them leeching off our hard work.
Why are BernieBros always so fucking stupid?
>they "exploit" our labor (and pay us an agreed-upon salary) I'm practically a slave, ugh
>but I hate it even more when they DON'T exploit our labor
>but for some reason I'm attracted to the MOST corrupt wealthy people, because they rob other wealthy people, and for some reason this makes them like Robin Hood even though they pocket the cash for themselves
>our hard work
shut the fuck up, neet.
>agreed upon
yes, I agree to make a wage that I could never possibly support myself with! it's so lucky that was the only offer and I can't possibly negotiate, even though I'm a college graduate with a degree in the field!
thanks guys!
>they "exploit" our labor (and pay us an agreed-upon salary) I'm practically a slave, ugh
The job market is the victim of a decades-long price fixing scheme. It's practically impossible to get what you're worth unless you land a fuckawful middle management position where shit rolls both ways and all your work never gives meaningful results.
>but I hate it even more when they DON'T exploit our labor
Given a choice between slavery and starving to death, most people choose slavery.
When American colonists declared independence from England in 1776, they also freed themselves from control by English corporations that extracted their wealth and dominated trade. After fighting a revolution to end this exploitation, our country's founders retained a healthy fear of corporate power and wisely limited corporations exclusively to a business role. Corporations were forbidden from attempting to influence elections, public policy, and other realms of civic society.
Initially, the privilege of incorporation was ONLY granted very selectively and for a very limited time and only for a single event in order to enable activities that directly benefited the public, such as construction of roads or canals. Enabling shareholders to profit was seen as a means to that end.
The states also imposed conditions (some of which remain on the books in many states, though unused) like these:
- Corporate charters (licenses to exist) were granted for a limited time and could be revoked promptly for violating laws.
- Corporations could engage only in activities necessary to fulfill their chartered purpose.
- Corporations could not own stock in other corporations nor own any property that was not essential to fulfilling their chartered purpose.
- Corporations were often terminated if they exceeded their authority or caused public harm.
- Owners and managers were responsible for criminal acts committed on the job.
- Corporations could not make any political or charitable contributions nor spend money to influence law-making.
For 100 years after the American Revolution, legislators maintained tight control of the corporate chartering process. Because of widespread public opposition, early legislators granted very few corporate charters, and only after debate.
States also limited corporate charters to a set number of years. Unless a legislature renewed an expiring charter, the corporation was dissolved and its assets were divided among shareholders.
/biz/ reporting in
PnD's are illegal and frequently investigated by the SEC nowadays for OTC and other low-volume securities.
however, if you wanted to be creative, you could contact a penny stock pharmaceutical company as a PM firm offering your "marketing services to get the public valuation they deserve" and have legitimate incentive and factual ground to drive a PnD as a "proprietary marketing strategy".
as long as the winning stock players are ratholes, then you're in the clear.
i haven't seen it been done, but incentive structure and SEC regulation has been my focus for years and this seems to be a route through the barriers put up.
yea i don't know any of that old shit i only play the game today #yolo
This is silly. Our economy would be nowhere where it is today without the corporate structure. The ability to limit risk is essential to growth and availability of capital. Arguably, we should restrict corporations from too much lobbying, industry capture, etc. but it's silly to rail against the concept of corporations as you're doing.
wrong, even Leo in the movie specifically says smart people with degrees and shit would not buy from them.
bullshit.
20 trillion in debt, impossible to fund social programs and a low growth service economy propped up by money printing, financial trickery and war.
>social programs
i'd rather redistribute to people trying to add value by taking risks, not to jamal
fukken what
>debt
kid who do you think that debt's to. you think we have to pay back the fed or they're gonna bankrupt to themselves? those journal entries won't ever affect the market again. money out of circulation.
you ate a bad red pill kid
Debt is relative to GDP and debt we own. The USA isn't that badly off. But you're right that it's hard to fund our social programs and service the debt in the future at current rates of growth and taxation. Eventually we'll have to raise taxes. But getting rid of corporations or whatever it is you want to do would tank the economy.
They really should've expanded on the scam in the movie. I like the quirky party scenes as much as the next guy, but most people didn't even understand how the scam worked.
if you guys don't just wanna watch the movie but live it, come check out our PnD's on altcoins. taking neets off the streets. literal magic, so much new money flowing in
oh god i sound like them
The economy will recover.
Corporations have to go.
It's actively recovering! What are you basing your opinion on?
you gonna braid dreadlocks on your girlfriend(male) on a stoner commune?
you either hate roads or you hate technology. or white people, let's see
it was never bad. the jobs crisis is a meme. i was at that level at the time and there was opportunity a plenty
Give me a break. I work in law, and we got hammered. Most firms couldn't start entire class years. Thousands of people at Goldman alone got laid off.
it was better when it was called Boiler Room
So what you're saying is that I should buy etherum?
Corporations aren't the problem. The problem is 100% located in the banking/investment industry. The stock market is fine. Investing in a "normal" business is fine. Running a business that sells a product or a service is fine, no matter how big that business gets.
That isn't where the money is anymore. It's tied up in these speculative investment transactions, elaborate forms of interest & debt, that have pretty much no connection to products, services, or anything real in any way. It's all just moving imaginary money around in imaginary transactions that never land on anything real or tangible.
It's ALL there. All the money in the world. Nobody will ever invest in your idea for a product or a business, because they can surely get a better return on their investment from the imaginary bullshit being done at a hedge fund.
And we've been here before, this isn't a new problem. FDR fixed it. Bill Clinton broke it again, and history repeated itself exactly as any reasonable person would expect.
if you wanna go the safe route i guess
you're not gonna make 50% gains week over week if you play the pussy game tho.
i don't have all the answers yet but am doing research on historical altcoin pumps to see if i can't smell a whale before he moves
maybe you should've pitched yourself to one of the md's from Mm&a that was leaving to start his own boutique ib. they brought the whole damn rest of their team with, you should've volunteered. they need that help pretty seriously
the only meaningful department that was actually perma-cucked by 08 was the traders. their allowances are dogshit now so their bonuses will be pinched thanks to dodd frank clipping collars on them.
just finished watching that on the other monitor an hour ago