Business and professional ethics

¶ … business and professional ethics in the movie "Wall Street." Discussed are the ethical principles that are violated as related to business; how greed is presented as part of American business; Gecko's view; how Buddy reacts and deals with the issues of ethics; how Buddy's view of greed and ethics evolves and changes throughout the film; what is/are the ethical dilemmas he faces and how does he handle them.

Wall Street, the Movie

Capitalism is said to be the path to the American dream. The barons of the early twentieth century built empires, the majority of which remain major players in the corporate world today. The goal of a capitalist is to make the best product for maximum profit and at the same time sell it at a competitive price to give the consumer the best buy, thus, acing out market competitors. The force behind this is basically self-interest. The American dream of the barons was one of the future, to create and build businesses that would not only dominate their perspective markets of the day, but businesses that would continue to grow, providing wealth and security for future generations. However, this Adam Smith view of capitalism took a turn in the deregulated financial climate of the 1980's when junk bond trading was at its peak. Then the capitalist motto seemed to become the epitome of the 'me' generation, to hell with anyone else, profits at all cost. Gordon Gekko, the financial wheeler-dealer giant in Oliver Stone's 1987 movie "Wall Street," summed it up brilliantly when he said, "Greed is good" (Stone 1987). Gekko represented the mood of the times, when financial hustlers made fortunes ruthlessly buying and selling company stocks, controlling markets, often by unscrupulous means. It gave a whole new meaning to capitalist force of self-interest.

Bud Fox, the naive American dream seeker, whom Gekko takes under his wing, goes through a moral transformation during his short, but active encounter with the Wall Street giant. He enters as an eager beaver, ready to prove himself, and more than ready to rise in the corporate world of finance. For this is his way to dream achievement, to the finer things in life, to a permanent refuge from ever-threatening poverty. So eager is he, that when he finally meets Gekko, he crosses the threshold of morality and business ethics by tipping Gekko to inside information, betraying his father's trust and confidentiality. Small as it seemed, that moment baited him for a roller coaster ride that would take him to the heights of success and then drop him to the bottom of ruin. However, all that mattered to him at that moment was that it got him in the good graces of Gekko and his feet in the door of a world he'd been knocking on for years, a door with the gold nameplate titled 'power and money.'

Lured into the lair by Gekko's enthusiasm and 'take no prisoners' attitude, Bud is seduced by success, where money buys power and power buys the magical kingdom of one's creation, the elite of the elite. He wants a kingdom of his own, and Gekko is his ticket. When Gekko approaches him to spy on a financial peer, Bud counters, but.."I could lose my license. If the SEC found out, I could go to jail. It's inside information, isn't it" (Stone 1987)? Gekko reminds him of the inside tip Bud had given him about the airline company his father works for and explains that it is information he wants from Bud, nothing else. Unless Bud is willing to go the distance to get it for him, then Gekko has no use for him. Bud hesitates, but not for long. He reasons that this is justified, a means to an end, the end being information to gain the edge. So seduced is he that he ventures on his own, seeking avenues to gain the edge. He even buys into a maintenance company that services a building that houses beneficial legal and financial information, allowing him access to confidential files. Bud is caught in the game and the adrenaline is rushing through his veins, he wants to win. He wants his American dream and so justifies his motives and actions that this is simply another path to the kingdom.

The power of Gekko's influence to seduce converts to his philosophy is best illustrated in his evangelical speech at the Teldar Paper stockholders meeting. When management began to point to Gekko's unscrupulous business practices of buying and liquidating companies, Gekko responds,

I am not a destroyer of companies, I am a liberator of them.

The point is, ladies and gentlemen, greed is good. Greed works, greed is right. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed in all its forms, greed for life, money, love, knowledge, has marked the upward surge of mankind... And greed, mark my words -- will save not only Teldar Paper but that other malfunctioning corporation called the U.S.A.Thank you" (Stone 1987).

Bud is simply one of the fold, looking to Gekko as a savior, whether the erroneously belief that Gekko is going to breathe new life in a failing company or a failing life. Bud, as do many others, sees Gekko as a transformer with the Midas touch.

Bud's basic character begins to creep to the surface, past the glitter and pomp. Once he has achieved success, owner of his kingdom, the audience sees a moment of introspection when he mutters to himself, "Who am I?" (Stone 1987). This scene reminds one of an addict who sees himself in a mirror and realizes that the ride he's been on is empty and shallow. And Bud is in many respects an addict of power and money, and Gekko is his source of supply. However, Bud reasons that this will be a short courtship and when it's over, he will be secure for the rest of his life. He takes Gekko at his word when he tells Bud that he has no intention of liquidating Bluestar Airlines, however, when he discovers that Gekko has lied, he seeks not only revenge against Gekko, but his actions and motives are to right the wrong and secure the company for his father and the other workers. He understands the meaning of his father's words, "money is something you need in case you don't die tomorrow" (Stone 1987). He succeeds in saving Bluestar, but his actions raise yet another red flag with the SEC.