the

History Buffs: The Wolf of Wall Street

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this episode sponsored by the Dollar

Shave Club

hello and welcome history buffs my name

is Nick Hodges and frankly just for the

fun of it I'll be covering the wolf of

Wall Street as one of the greatest

Martin Scorsese movies ever made this is

based on the real-life story of Jordan

Belfort a crooked stockbroker who made

his career by embezzling his investors

out of millions of dollars and then

spending it at all in an excess of

debauchery to privacy an outright

douchebaggery in 1989 he co-founded a

brokerage firm called Stratton Oakmont

and it was hugely successful its

employed hundreds of aspiring young

brokers who are all instructed to carry

out a pump and dump scheme what this

basically means that they would buy

worthless stock the cost next to nothing

then they would inflate the price by

lying to their naive investors and then

sold everything before the inflation

bubble popped for years this scam went

on and by the end of its Jordan Belfort

had swindled his investors and of

hundreds of millions it didn't take long

for the FBI to find out and lock

everyone up for audiences find so

fascinating about Jordan Belfort is less

to do this crime and more with his

decadent lifestyle of drugs booze and

women what we see in the film is so

ludicrous so bizarre so insane that it

has to be the work of Hollywood fiction

right well grab yourself a drink and

let's find out how accurate was this

movie and oh yeah for anyone in the

comment section asking seriously Nick is

this even related to history absolutely

[ __ ] not

this is the wolf of Wall Street

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now normally when I do a history buffs

episode I start off by exploring the

historical background of the movie to

provide some context but honestly how

much do you need to understand what

these Wall Street wankers were like you

want to know what money sounds like go

to a trading floor onwards

[ __ ] this [ __ ] that [ __ ] [ __ ] [ __ ] I

couldn't believe how these guys talk to

each other I was hooked

in seconds the life of Jordan Belfort

was not exactly that complex he started

off as a young broker who had just

passed a series 7 exam and got himself a

great first job at LF Rothschild an

investment firm that have been around

since 1899 but he would enjoyed for very

long because on his first day of the job

was Black Monday that was when the stock

market fell by 500 points on October

19th 1987 up until then it was the worst

crash that happened since the Great

Depression and given how many stock

brokers viewed their trade it's not hard

to imagine why I gotta say I'm

incredibly excited to be a part of I

mean the clients you have absolutely

[ __ ] the clients your only

responsibility is to put meat on the

table name of the game move the money

from your clients pocket into your

pocket right but if you can make a

client's money at the same time it's

advantageous everyone whom correct know

so after being laid off from LF

Rothschild Jordan Belfort found himself

a job at the investors Center which was

a penny stock house that sold worthless

stock too gullible working-class

investors normally this would be

considered major step backwards for any

self-respecting broker until Belford

realized that he would gain a 50%

commission out of anything he sold so

using the skills he picked up on Wall

Street he robbed these people of their

livelihoods and the money he was able to

make from that allowed him to open up

his own brokerage firm in 1989 where he

planned to do the same thing except to

rich people at another band a daughter

body shop in Long Island Stratton

Oakmont was born and it was there that

Belfer provider's team of stockbrokers

with a carefully written script that he

called the straight line the way it

worked was that they would learn new

investors in with

chip stocks successful brands and

companies that the general public were

familiar with once those investors have

made a little bit of money on those safe

bets then the Stratton ice will take

advantage of that newfound trust and

push them to buy the high-risk penny

stocks which of course they did

this tactic allowed the company to grow

from its quote unquote humble origins

into one of the largest OTC firms in the

entire country and just like we see in

the wolf of Wall Street's Jordan Belfort

would spend every morning giving epic

speeches over a microphone to his

brokers and appeal to their inner greed

but enough of that exposition you want

to know about Jordan Belfort's

misadventures and all the other crazy

stuff we see in the movie most of them

concerning drugs I take quaaludes 10 to

15 times a day for my back pain adderall

to stay focused xanax to take the edge

off pot to mellow me out cocaine to

wayton back up again and morphing well

because it's awesome admittedly it's

difficult to hundred percent verify

which of these stories are true but base

when I was able to find here the ones

that do seem to be white for example the

scene where Jordan Belfort almost

crashed his private helicopter on his

mansions lawn

not just because he was wasted on

quaaludes annex and morphine but he also

didn't have a pilot's license and there

was also the time he tried to drive his

car on such a high dose of quaaludes

that they almost turned in paralytic

only difference was that the car he

drove was a Mercedes and not a

Lamborghini

seriously the amount of drugs that

Belfer consumed on a daily basis is no

exaggeration in his book he wrote that

his dealer todd garrett who in the

movies renamed brad sold him ten

thousand quaaludes during his career as

a stockbroker which were more than

enough to fuel the wild parties Belfort

threw at Stratton Oakmont it looks less

like a brokerage firm and more of a frat

house where they did such crazy things

like shagging prostitutes in the office

or shave a female employees head for

$10,000 so she could pipe breast

implants but admittedly the movie does

make a few fictional changes for example

Belfort and his team never brought a

chimpanzee into their office or any

exotic animals for that matter nor did

they organized a dwarf-tossing

competition to throw against a dartboard

apparently the firm did hire some little

peep

to attend a party and the idea of the

competition was just suggested one of

their meetings but never came to be

probably because the idea was so stupid

that anyone with half a brain would

point out there was a lawsuit waiting to

happen the important thing you guys got

to keep in mind is is that these things

gossip they get together and they gossip

at this point and the last thing that we

need is them getting together and saying

oh yes and they made fun of us like it's

gonna make strata look that's what I

love me you think of [ __ ] like that

another thing I thought I should mention

is that despite the title of the movie

and Jordan Belfort book he was never

actually called the wharf of Wall Street

the original 1991 Forbes article makes

no mention of the name and according to

Danny porush no one has Stratton Oakmont

called him that either it was just

simply an invention of the book that was

also adopted by the film speaking of

Danny porush let's have a look at Jonah

Hill's character in the movie he's

renamed Donnie Azoff but his real name

was Danny porush and he helped co-found

Stratton Oakmont with Jordan Belfort one

big change made in the wolf of Wall

Street is how the two met it wasn't at a

restaurant where Danny asked to see

Jordan Belfort $72,000 pay stub before

quitting his job

in real life Danny's wife Nancy Parrish

was the one who introduced them so

that's not accurate but funny enough the

bit about Nancy being Danny's cousin is

true and they definitely one second

cousins so you'd think that'd be gross

enough but another absurd thing about

Danny they turned out to be true is when

he swallowed a broca's goldfish for

slacking on the job so moving on from

Danny let's take a look at another

important character the Duchess of Bay

Ridge you know the one I'm talking about

she was the one with my [ __ ] in her

mouth in the Ferrari renames Naomi in

the movie Belle fits real wife was

Nadine Belfort and that background is

pretty much the same as what we are told

she was indeed a model but to be called

a miller lite girl is a little too

generous in my opinion to show you what

I mean let's have a look an eighteen

smilla light commercial

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because there's nothing better than

spending a little time man's two best

friends his dog and his beer another

light the less filling beer that really

tastes great that's right blankety

missus that was the extent of an

exciting career as a miller lite girl a

role that got less screen time than the

dog not suggesting that this was an

inaccuracy of course I just couldn't

help myself showing that commercial once

I found it anyway just like in the movie

the real Nadine was given every luxury

she could ever want

but given Jordan Belfort's dangerous

lifestyle it all came at a price like

for example the scene where Belford

court Nadine 167 foot yacht as a wedding

present they used to belong to Coco

Chanel that's all true and at that

moment in her life she probably thought

that things couldn't get better than

this only to have it taken away years

later when Jordan and the captain

decided a sail through a freak storm in

the Mediterranean with fifty foot waves

smashing against the yacht it eventually

capsized and they had to be rescued by

the Italian Coast Guard only slight

difference words that they were sailing

off the coast of Sardinia and they

weren't heading for Monaco but the parts

about Jordan only wanted to save his

stash of quaaludes is true even on a

sinking ship

he had his priorities and the part about

his private plane crashing because a

seagull got caught in the engine Jordan

didn't actually see that but it did

happen some days later another cool

thing I found out June my research

involves jordan belfort private

investigator Bo Dietl who tries his best

to protect Belfort from himself but

unlike the other characters in the movie

Bo Dietl is actually playing himself and

he really did work for Jordan Belfort I

just thought there was such a cool

addition by Martin Scorsese and Bo does

pull off a great performance even if it

is playing himself you didn't try to

bribe this [ __ ] FBI

I see despite all the other bad

decisions Jordan Belfort made in real

life it wasn't stupid enough to try and

bribe the FBI agent investigating him

the guy's real name was Gregory Coleman

and the whole scene where Jordan invited

him to meet him on his yacht never

happened in fact the two wouldn't meet

face-to-face until Coleman arrested him

at his home in 1998 and not during an

infomercial like we see in the movie

balford was eventually charged for money

laundering and illegal trading practices

and the reason he popped in the FBI's

radar was because the numerous

complaints made against Stratton Oakmont

and Jordan suspiciously excessive

lifestyle but also through what happened

with Steve Madden if you recall in the

movie Steve Madden was a designer for

women's shoes and he just happened to be

childhood friends with Danny porush in

1993 Stratton Oakmont took Steve Madden

shoe company public the only problem was

was that Steve Madden Danny porush and

Jordan Belfort owned the majority of its

shares which of course is really illegal

so in Jordan's minions drove the value

of the stock up they got stinking rich

in the process in order to hide his

ill-gotten gains Jordan Belfort began

smuggling cash to a Swiss bank he was

able to disguise them in his wife's

aunt's name by explaining to her that he

just wished to avoid paying taxes the

way he was able to smuggle the money was

through his quaalude dealer todd garrett

whose wife just happened to be a Swiss

citizen and they're able to convince her

and her family to hide the money in

their luggage by the end of it they had

smuggled three million dollars for

Jordan Belfort to get a lighter sentence

Jordan agreed to wear a wire and rat had

his friends and colleagues in 2004

Belfort was finally convicted for his

crimes but despite having stolen

millions of dollars he would be

sentenced to four years in a

minimum-security prison but would only

serve 22 months and if you think that

takes the piss the prison Lee served at

the Taft Correctional Institution was

less like a prison and more like a

university campus like they had a Sports

Complex with tennis basketball

volleyball football baseball they had a

music department with concerts playing

and they had a rack

we could play pool foosball and ping

pong and to top it all off guess who his

cellmate was Tommy Chong one of the

coolest and most chilled out people you

could ever want to be your bunkmate

lucky bastard when most people go to

prison they're praying then they don't

end up with a violent convict in the end

I guess we should be happy that Jordan

välfärd ended up in this prison because

it was actually Tommy Chong who

convinced him to write his life story

into the book the wolf of Wall Street

and despite his cushy prison sentence he

didn't completely get away scot-free

additionally he was ordered to return

the 110 million dollars that he stole

from his former clients and to this very

day he is struggling to pay everything

back Jordan Belfort now makes a living

by giving seminars around the world to

teach sales techniques and there's a

scene at the end of the movie we could

see the real Jordan Belfort make a brief

cameo where he introduces his film

counterparts onto the stage

overall I'm happy to say the Martin

Scorsese has made yet another authentic

film it only slightly deviates from the

truth at times for the plot purposes or

to creatively raise the bar but any

change though his mate doesn't betray

what the film was ultimately going for

to tell a cautionary tale about the

absurdity and dangers of excess

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[Music]

well that about wraps it up my name is

Nick Hodges and thanks for watching

history buffs and remember if you like

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let me know in the comments section what

you thought about the wolf of Wall

Street and of course what historical

movie should I review next in the

meantime check out the history buffs

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updates until then I'll see you next

time

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you