Wall Street: A Moral Phenomenon

Many people today believe Wall Street directly coincides with success. However, the acts that these Wall Street bankers take place in is not always legal or just. Everyone knows that their is corruption and greed on Wall Street. Yet, they choose to dismiss this with the information we have.  To simply put it, everyone is out for themselves; they do not give a shit who they dig in the ground, as long as they are at the top. It isn’t because all the people that work on Wall Street are sociopaths, instead, early in their careers they realize that there is no room for failure with these big firms. This being said, people still believe Wall Street is in the interest of the clients.  Are people this stupid? To think that bankers on Wall Street care about their well-being? According to CNBC, after the housing market collapse of 2007, banks have paid $150 Billion in restitution to homeowners, in fines, and settlements.

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Three of the biggest banks in America paid in total $98.8 billion in fines. If they were in the best interest of their clients, would they have let the housing market collapse? They knew even if it did collapse, they would be bailed out by the government.

The Wolf of Wall Street brought to light the degenerates that Wall Street has. In this film, a young Wall Street banker, Jordan Belfort, goes from “pon scum” to one of the most affluent people in America. This film, based on the events of Jordan Belfort, is an actual representation of how Wall Street acts. He even said his real life was worse than depicted in the film. However, even with this film showing the problems with Wall Street, people didn’t get the message. Instead they saw a lifestyle they want to live.

Among the youth, The Wolf of Wall Street is motivation for an “ideal” lifestyle, instead of a lifestyle of debauchery. Leonardo DiCaprio tells an interviewer about the reasons behind The Wolf of Wall Street

“Because ultimately, he keeps saying this: ‘Who am I to judge anybody?’ I mean ultimately I think if anyone watches this movie, at the end of ‘Wolf of Wall Street’ they’re going to see that we’re not at all condoning this behavior. In fact we’re saying that this is something that is in our very culture and it needs to be looked at and it needs to be talked about. Because, to me, this attitude of what these characters represent in this film are ultimately everything that’s wrong with the world we live in.”

We have seen movie representations of Wall Street and actual events of Wall Street bankers that led to an economic collapse, yet, we do nothing to fix the problems with Wall Street. The government continues to be lenient of Wall Street behavior even after time and time again we see the many problems with Wall Street. Can we actually do anything about Wall Street? Or is this one of the fundamental problems with Capitalism? In layman’s terms, we are more or less…doomed.

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