Perhaps the cops think police dramas are unrealistic. Maybe doctors scoff at medical movies. But when it comes to Wall Street, Hollywood gets it right.
“Arbitrage” rang true, as did “Margin Call” and “Wall Street”s one and two, because the dialogue captured the argot of the Street. Robert Miller, played by Richard Gere, understands that getting a deal done, especially a fraudulent deal like his, requires bluffing, something he’s been doing all of his life apparently, but none better than when he tries to sell his firm.
I can’t tell you how many times I have had to listen to bluffs and pumps on the way to dumps, and I know that Nicholas Jarecki had to have been in a room full of dealmakers to nail it as well as he did.
Alas, I do believe the U.S. Attorney would have nailed Miller, but only because New York’s got a great one. Anywhere else? Just like in the movie, he’d get away with it, because that’s how realistically cunning and conning the portrayal was.
Jim Cramer, host of CNBC’s “Mad Money,” is author of several bestselling financial tomes.