November 13, 2010 by staff
President of the Vatican Bank Ettore Gotti Tedeschi dismissed the film as “predictable and banal” in an interview in L’Osservatore Romano, official Vatican newspaper. Gotti Tedeschi told the newspaper he had been to the cinema with high hopes, having been a fan of 1987, predecessor of the film and its villain known, Gordon Gekko.
“I did not like anything about the” sequel, Gotti Tedeschi said. “The first movie Wall Street has moral character. Even Gordon Gekko, the speculator, was wonderful, wonderful negatively.”
The sequel, however, does not delve into the causes of financial crisis, like the bubble of subprime mortgages, focusing instead on the melodrama and clichés, the banker said.
“It’s all about the different symbolic revenge against: the banker. He is evil. It has created the crisis. This film carries no positive message,” he said.
Gotti Tedeschi, a prominent Italian economist who has written extensively on ethics in finance, disagree with Stone’s sequel to the celebration of the villainous Gordon Gekko. “The film is acquitted, but praised the figure of the financial sharks alla Gekko” lamented Gotti Tedeschi.
Gotti Tedeschi is facing scrutiny of their own. Italian prosecutors recently put under investigation for allegedly violating the laws of Italy, money laundering. Prosecutors allege that the Vatican bank, formally known as the Institute for Religious Works, carried out international money transfers without revealing the names of their clients or the nature of operations, required under Italian law.
As part of the investigation, prosecutors also have frozen 23 million euros in funding from IOR. The Vatican has rejected the allegations as the result of a “misunderstanding” between the bank of the Vatican and Italian regulators. Gotti Tedeschi has denied wrongdoing, adding that the operations were “absolutely transparent.”
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