Events, Law Professors, Media and Journalism, Movies, Rudeness, Sexism, Wall Street, White-Collar Crime

A 'Cringeworthy' Evening With The Real 'Wolf Of Wall Street'

Protip: when hosting an event, try to refrain from sexist introductions of your speakers.

By  
on

Last night, I attended a panel discussion at the 92nd Street Y featuring some very interesting individuals — including two lawyers. Thane Rosenbaum, the law professor and novelist, moderated a panel featuring former federal prosecutor Daniel Alonso, CNBC anchor Kelly Evans, and the “star” of the evening, Jordan Belfort — the disgraced stockbroker turned convicted felon turned bestselling author who served as the inspiration for Martin Scorsese’s 2013 film, The Wolf of Wall Street.

So what was the evening like? One attendee described it as “cringeworthy” — and I have to agree….

There’s a nice explanation of the cringe factor over at Business Insider:

The program was produced by attorney Joel Seidemann. He’s a former assistant district attorney in New York. His LinkedIn profile says he works at JPMorgan Chase now.

Seidemann gave a trainwreck of an introduction. It really set the tone for the evening, which was uncomfortable.

First, he joked that there wouldn’t be any “scantily clad girls” at the event. “It’s just going to be stimulation from the neck up.”

He also threw in a Casey Anthony and OJ Simpson joke.

“We never had a defendant who was actually convicted. It’s not for lack of trying … I did invite Casey Anthony, but she was looking for Zanny the Nanny. We did invite OJ, but he wouldn’t leave his gated community in Nevada.”

I was a little surprised that the Casey Anthony and O.J. Simpson jokes didn’t get boos or groans. Those cases, while tawdry and salacious, involved the deaths of three innocent people. But no worries, Seidemann generated more than enough boos with his subsequent comments:

Then, he introduced CNBC anchor Kelly Evans. It was awkward.

He said something along the lines of “We need a fox on this panel of wolves.”

There was some laughter and some boos from the audience.

Sponsored

From where I was sitting, I heard far more boos than laughs. Evans wore a blank expression on her face, but one could tell that it was a “I’m so furious that I’m going to go blank” look. As a television journalist, someone who controls her facial muscles for a living, she has that magic power.

Seidemann’s introduction — which was also overlong and unfunny, in addition to rude — got the proceedings off on the wrong foot. It’s too bad, because the Forum on Law, Culture & Society is a beloved institution that has hosted some great programs in the past (including a riveting panel on the Casey Anthony case).

Last night — the Forum’s first event since its move from Fordham to NYU Law, held at the august 92nd Street Y — should have been a triumph. Instead, all everyone could talk about as they left the auditorium was Seidemann’s introduction. (Yes, I was eavesdropping, in the lobby and as the crowd flowed down Lexington Avenue to the subway.)

Anyway… what about the actual panel discussion? It was entertaining and engaging, but unfortunately again, the Seidemann intro tainted the rest of the proceedings. Evans alluded awkwardly at several points to the offensive comments about her, and Rosenbaum made efforts to restore her dignity that, while well-intentioned, came across as fawning. Here are a few key themes:

1. Is Jordan Belfort truly rehabilitated? There’s a dispute — discussed in this Wall Street Journal article, which Belfort contests — over whether Belfort, since his release from prison, has been making adequate restitution to his victims. Belfort claims to be paying more than he needs to pay in restitution, while the U.S. Attorney’s Office argues that he is not meeting his obligations, especially in light of the income he’s getting from book- and movie-related sources and his speaking engagements. (Belfort did not get paid for his 92nd Street Y appearance and joked about how he wasn’t getting compensated to sit there and take “border-line abuse.”)

Sponsored

2. Is Jordan Belfort admirable? Belfort claimed last night that he has turned his life around — avoiding drugs and alcohol, giving motivational speeches to warn people not to make his mistakes, and donating the proceeds from these speeches to his victims. Dan Alonso, the former prosecutor who used Belfort as a cooperating witness, agreed, saying that Belfort appears to be a good father and husband today. But Evans took a more critical view, arguing that Belfort has basically gotten to have his cake and eat it too — live a life of debauchery and indulgence, cheat people out of millions, do a brief stint in prison, and then make more money after getting out or prison as a celebrity felon.

3. Do we as a society glamorize crime? This was the contention of Kelly Evans, who argued that The Wolf of Wall Street makes a life of financial crime look appealing by showing the rewards — the strippers, prostitutes, drugs, alcohol, and yachts that come to those who cheat. She even turned on the audience at one point, saying something along the lines of, “Why are you here tonight? You’re here for the glamor. You’re here for the spectacle. You’re here to laugh at the shtick and to check out the foxy lady.” (That last comment was, of course, a reference back to Joel Seidemann’s ill-fated intro.)

Jordan Belfort gave a rebuttal. He argued that, contrary to Evans, his story is a cautionary tale. “The Wolf of Wall Street is not like Wall Street [the 1987 film]. I fall at the end. My life is ruined.”

Evans responded, “Is this a cautionary tale? You just sold out the 92nd Street Y. You’re on a 45-city speaking tour.”

“I turned my life around over the last year,” Belfort said. “I’m not out committing crimes right now. People want to believe in redemption stories. People should have hope. If you make one mistake, should that be the end of your life?”

4. Does law enforcement rely too much upon cooperating witnesses? This was an issue that Rosenbaum raised, noting that Belfort, even though he was at the top of a criminal scheme, served just two years in prison because he cooperated, while lower-level individuals got hit harder. Alonso mounted a spirited defense of the status quo: “Look at all the things we want the government to clean up,” he said, citing everything from financial crime to gang violence. “Prosecutions would be a lot less significant if we eliminated cooperation. It would be very bad for crime control.”

5. Does Wall Street get a bad rap? Maybe. As Dan Alonso observed, “Nobody does a movie about the Wall Street bond issue that helps to build a school.” Or, for that matter, the Wall Street lawyers who work on that transaction.

People want spectacle and entertainment — which is what they have wanted for hundreds if not thousands of years. As Kelly Evans put it, “Humanity doesn’t change that much.”

The Real ‘Wolf Of Wall Street’ Was At The 92nd Street Y Last Night, And It Was Cringeworthy
[Business Insider]
Real-life Wolf of Wall Street speaks about redemption [Washington Square News]
Prosecutors Give Poor Reviews to Restitution From ‘Wolf of Wall Street’ [Wall Street Journal]

Earlier: A Popular Institution Makes A Major Move
Trials and Error: The Casey Anthony Case

Topics

, , , , , , , , , , , , , , , , , , , , , , ,