The Wolf of Wall Street

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   A 'yuppie' is often pictured as a popularly stylish young middle-class individual whom is overly ambitious when it comes to financial success. American historian and columnist, Victor David Hanson felt the phenomenon of 'Yuppism' centred around "self-absorbed young professionals... [that were] generally out of touch with, indeed antithetical to, most of the challenges and concerns of a far less well-off and more parochial Middle America." Whilst this analysis may have been true the 1980s was perhaps a time where the American Dream seemed more real to young individuals and this era of 'yuppism' meant that the 'go-getters' had vast opportunities. Hanson argues the very energetic, determined people had great chances, yet many others were arguably left behind and cheated by these people, particularly in relation to finance and brokerage firms. 

   
   

   Nevertheless, whilst not all of these charismatic people were "self-absorbed", the stereotypes of a 'yuppie' do not come from no where. Martin Scorsese's The Wolf of Wall Street (2013) along with Jordan Belfort's memoir of the same name (2007) are both prime illustrations of the greed and materialism during the 1980s. Belfort's story starts towards the end of this era in 1987 where he was one of many that got sucked into Wall Street in the hope that one day he would become a millionaire. Fairly straight forward, yet what entailed in so much of Wall Streets endeavours was the drug inducement, moral corruption and dysfunctional lifestyles many people had. Belfort's company, Stratton Oakmont, which was founded at the end of this era (1989), had 1,300 people employed, the majority of whom would have partaken in the drugs and love of prostitution. These employees would all be seen as the typical cultural figures of a 'yuppie'. One particular scene in the The Wolf of Wall Street, perhaps epitomises these figures as up and coming individuals who had the opportunity to become more prosperous. In Belfort's speech in one of Stratton Oakmont offices he looks to one of his first ever employees speaking about her stating:

   
   

   "Most of you have met Kimmy, the beautiful sophisticated women she is today... The women who spends $3000 on Armani suits, drives a brand new Mercedes Benz, spends her winters in the Bahama's, and her summers at the Hamptons... the Kimmy i met didn't have two nickels to rub together".
   
   
   

   
   

   
   

   Here is a clear representation of a 'Yuppie' through the use of film and how many of these people actually grew up in families towards the bottom quintile of earners. Therefore, this portrays the 1980s American Dream for many 'yuppies'. Unfortunately, however, as seen throughout American history and literature the American Dream always seems to have negative connotations, and in this case it depicts the abuses of the capitalist system. Many of the employees were arrested and charged with fraud, stock-market manipulation, and participating in the so called 'boiler room'. The characteristics of this term would include cold-call high pressure selling ("Ram Steve Madden's stocks down their throat until the choke on it"), unpleasant working conditions (i.e. prostitution during the working day), and dishonest sales techniques. 

   
   

   A quote from Belfort's memoir, as seen above states "I partied like a Rock Star, Lived like a King", which certainly reflects the clear aspect of materialism that drove the life of a 'yuppie' in much of Wall Street. Yet, as seen in much of history, whilst Kings may thrive many people will be cheated out of the system through unethical treatment. Essentially, Belfort would gain vast amounts of stock, with "minimal public disclosure", then drag up the prices to then be sold fiercely whilst profits would be made, yet investors would always lose. A quote from Belfort and perhaps a 'yuppie' ideology was "I want you to solve all your problems by becoming rich", even if that meant disregarding many of their former morals and values which Belfort initially had at the start of his Wall Street career.