Review by Karim Malak
How Women ‘Make it’ in Wall Street
(Warning: spoiler alert.) In Equity, Anna Gaun plays Naomi Bishop – a lead advisor at a Private Equity (PE) firm that is handling a major Initial Public Offering (IPO) for a tech privacy company. The film shows the inner workings of Wall Street in a drastically different light. Written by Amy Fox, Alysia Reiner, and Sara Megan Thomas and directed by Meera Menon, one immediately understands that this new angle involves the question of women in Wall Street; something that remains an omission in most mainstream Hollywood films, if not all.
The plot centers round Naomi as she attempts to handle this major new deal and ‘make it rain’ in order to land a new promotion. Despite being the lead advisor for the firm, she is not promoted and her boss makes it explicit that top management doubt her. Naomi then sets out to make this deal the biggest Wall Street has ever seen. In the process Naomi displaces her frustration onto her young assistant Erin Manning (played by Sara Megan Thomas) who is also up for promotion and so has to hide the fact that she is pregnant in order to get it. She is caught dumping her alcoholic beverage in the bathroom sink and Naomi asks her how far along she is pregnant. Naomi tells Erin that she needs to suck it up, telling her not to upset their tech company client CEO ‘Ed’. A typical bro who dresses informally for his business meetings – reminiscent of Mark Zuckerberg’s lifestyle – Samuel Roukin as Ed plays the part assigned to him well, coming on hard to poor Erin who has to lightly nudge him when he forces himself on her whilst making out. Throughout the movie one cannot shake off that it is a reminder of Facebook’s own failed IPO. In fact, at one point in the movie as Naomi learns her Wall Street boyfriend – Michael Connor played by James Purefoy – is conspiring against her; she states that she is not going to be like Facebook, alluding to its failed IPO.
The irony of how Michael gets this insider trading information cannot be missed. As Naomi’s assistant, Erin is almost about to break because of all the pressure. She comes looking for her at Michael’s apartment but Naomi is not there. Michael starts to sweet talk her, getting the ball rolling and pouring her a drink. He uses Erin’s frustration of not getting a clear answer from Naomi about if she will get the promotion or not, and gets Erin to divulge the weaknesses of the tech company’s position, spilling the beans on a key weakness discovered during due diligence.
In the midst of this, Samantha, a lead investigator at the Security Exchanges Commission (SEC), investigates Michael Connor and learns he is seeing Naomi. She tries to muscle in on Naomi for information, an old classmate. As the plot thickens and revolves around these three women (Naomi, her assistant Erin, and the SEC investigator Samantha), one sees that in Wall Street it is not only a question of the top executive making it harder for the younger one, but that it carries a certain sting to it when it is done to a woman and displaced onto another much like how Naomi does that to Erin. What is new about Equity, isn’t that it brings women into the story of Wall Street. But that it shows that in this structure of money making, the injustices done to women are internalized such that these white women do it to other women just as much.
This is perhaps the one dimension missing in Wall Street, how these white women choose to be victims but that others do not even have that option and for them trying to change Wall Street is a foregone conclusion. Rather than aiming to ask why equal opportunity hiring or affirmative action perpetuates Wall Street’s chauvinism, white women are content to being equally exploited with their male colleagues. In the name of equality white women on Wall Street conveniently forget why they are the only recipients of affirmative action policies, rather than other women who are not white. For them It is not so much about changing Wall Street to being less exploitative, or less patriarchal, but about having their place in it at the expense of non-white women. Having internalized the Wall Street hierarchy and its rules all things go, and when one is a woman it becomes markedly different and more painful for women to work inside, but that in the name of equal opportunity these women have an onus on them to ‘make it’, to demonstrate that it is an equal space, in the process accepting to hide their marriage, or that the magnanimous young hot-headed ‘bro’ may inappropriately come on to the poor assistant. Such is the ‘cost’ of doing business and ‘making it’. Naomi tries to ‘make it’ against all odds and in the process she tramples over other women and displaces what was done to her to others as part of a ritual. Samantha the SEC investigator who comes so close to unraveling the insider trading plot in the end fails and accepts a Wall Street job.
Samantha the SEC investigator who comes so close to unraveling the insider trading plot in the end fails and accepts a Wall Street job. When she is asked in her interview why she wants the job she gives a generic answer about wanting to spend more time with her family and her female partner, but seeing the interviewer’s surprise she changes her answer. She gives the same one the movie opens with, the answer Naomi gave. Women should not feel dirty that they want to make money, or that making money is a bad thing. It is OK to love money.
That is precisely the story of Equity, how in the name of making it one gives up their dreams and instead learns to love to make money, hurt others and do what was done to them to the next unsuspecting incoming young executive, even if they are a woman. In fact, especially if they are a woman so that they learn the ropes of Wall Street faster.