The Wolf Of Wall Street is based upon the infamous memoirs of Jordan Belfort,arrested in 1998 for securities fraud and money laundering. He was convicted in 2003, and after cooperating with the FBI and ratting out his friends, he received a 4-year sentence, but served only 22 months in a California federal prison. His cellmate was Tommy Chong, one half of “Cheech and Chong,” who was serving 9 months in jail for selling bongs. It was Chong who encouraged him to write a book after laughing at his stories, and Belfort said he read Tom Wolfe’s The Bonfire of the Vanities and modeled his writing after Hunter S. Thompson as well. (No wonder, all those exclamations!) His books ended up netting him an advance from Random House of more than $1 million, and he also received more than another $1 million from the film rights. On top of all that, in perhaps his greatest performance yet, he has refashioned himself as a motivational speaker who gets paid sometimes more than $30,000 a speech. He’s still putting on a show.
Belfort’s life was despicable in so many ostentatious ways, and the sex, drugs, mansions, yachts (the one originally owned by Coco Chanel sunk off the coast of Italy when Belfort demanded to sail through a storm), and trophy wife whom he called the Duchess (Nadine’s name was changed to Naomi in the film) were crimes against good taste.
The problem with The Wolf of Wall Street is that the self-fashioned wolf was nowhere near the real Wall Street. But the film and the books make Belfort seem like a much bigger deal than he was, whereas he was really a relatively small fry.
The big boys of Wall Street, are just as vulgar, despicable and ostentatious. I was sitting across a Wall Street titan once who took out a 18 carat gold straw, lay down a few lines of blow and snorted it and then offered me the straw, which I declined telling him “I don’t do drugs”. Without missing a beat he reveled to me why I should park $1 billion with him, in the old Wall Street days. He started off to tell me that it would take a while to get the money into the market as it’s a lot of money, but that some of it could be used to trade in stocks. I never ended up doing business with him as when I returned to Olympic Towers and was asked how did it go? I let everyone know “He does blow, I can’t trust him and it’s got trouble written all over it”. So what did I learn from this titan of Wall Street in my meeting?
Hookers, you need classy hookers, not the street hooker but those that will cost you $10,000. a night. The hookers are their only for one purpose (entrapment) and yes the real wolves will do that to you. Stripper, you need to have on call a hot, stripper, who will do private board-rooms. The stripper is one who goes and works a boardroom, takes no money, but someone slips her a piece of paper and that paper could be worth anywhere from $50 million to over $100 millions of dollars. There is no trace, paper is shredded, no telephone calls, emails, etc. The information is used in any number of ways (Insider Information). Private jet, (tail number reader) this person or people check up on corporate private jets, so they can then send in their spies to see what’s up and get information that they can use to make billions. The (Social butterfly), a person who you retain or pickup their checks from all around the world. This person travels, and hangs out in interesting places, with only one objective picking up information that to many would be useless but to the Wolf is key. The (Fake Deal) this is a deal, a loan, investment, in a company or entity that is not real but looks real, and must pass the muster of top law firms of Wall Street. This deal is set up to move money out of an account, that really one can afford to loose in Wall Street terms this anywhere from $9 million upwards and is openly visible, so that if the ship goes down that is what the FBI get and not the real loot. Bankers, who you can deal with who don’t piggyback your information, some banks or investment bankers know that someone has valuable information and they then piggyback your stock buys, and sells, and this can land you into trouble. The real Wolf Of Wall Street, play big, they will create a problem so big, that not even the government will want to hurt them for fear of everything coming apart, that’s when you go in for the kill, and ask them to bail you out. Sound familiar. What happened to this coke snorting suit? He was charged with insider trading by the U.S Attorney Rudy Giuliani, ended up doing two years in a Federal prison after ratting out all his friends and associates.