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Pssst, wanna see a dirty movie? This one has cocaine snorted from a prostitute's privates and a lighted candle inserted in Leonardo DiCaprio's bottom. Thank heaven it wasn't the other way round.

Is hardly about titillation. There have been reports of the depravity upsetting some viewers. A few critics have charged the film with glorifying excesses of drugs, sex and money. Surely not?

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Could it be true that an American movie would glamourise such tawdry aspects of human weakness? The very thought. Let us all put some fresh ''po'' on the face and discuss depravity. Frankly, it's hard to imagine any cinema without excess. Scorsese's whole career would never have started without the freedom to go too far that followed the loosening of American censorship in the 1960s.

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Of course it glamourises the life of Jordan Belfort, the slimy stockbroker who defrauded his clients of $200 million before he went to jail (albeit briefly). As played superbly by Leonardo DiCaprio, Belfort accumulates money at a rate, and with an ease, that will have thousands of youngsters dreaming of a life in the stock market. No matter that Scorsese also shows his downfall, his grubby betrayal of his friends and his alienation from wife and children. The kid who just wants to make money will remember the scene of him having sex with his sexy blonde wife - played by the fit Australian actress Margot Robbie - on a pile of money. Hmmm.

And why not? This all happened and if we are to understand how he got away with it, we need to see how he did it and what kind of man he is, or was. A movie is not a church meeting, after all, even if a story is a moral document. The film has some dramatic problems, but Scorsese is not responsible for how his film is misinterpreted. Belfort has said in interviews that two of his great heroes were Gordon Gecko from Oliver Stone's film

. Greed is good, but sex is better, in other words. Such are the dangers of relying on movies for moral lessons.

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The bigger problem for Scorsese is not the excess, but the ennui. The film is hilarious, probably funnier than anything he has done, a rollercoaster ride in which Belfort goes from running a suburban ''pump and dump'' operation in Queens - talking up penny stocks to nickel-and-dime clients, then selling his own stock before the price falls - to being the head of Stratton Oakmont, a seemingly legitimate firm with 1000 brokers trading in billions. The company practises the same deceptions on a much bigger scale and in an atmosphere that's more cult than business. DiCaprio preaches rapine rather than salvation, and the benefits are immediate. He brings in teams of hookers and tankers of champagne for his acolytes. They have sex under the desks. It's the Playboy mansion meets a tent-show revival. Hallelujah and pass the percentages.

), based on Belfort's two books, keeps building the excesses, looking for a way to make sense of it all. One of the most memorable scenes has DiCaprio and Jonah Hill, as Donnie Azoff, his right-hand man, flopping about on the floor of Belfort's mansion, drooling and grunting, unable to talk or control their legs. They have ingested so many drugs in the pursuit of happiness that they have become pitiful, gaping like fish on a dock.

It is clear that we are meant to see Belfort's shyster operation as a metaphor for the other Wall Street, the ''respectable'' ones who looked down on him as they ruined the world's major economies five years ago. It is also a much wider metaphor, as always with Scorsese. Most of his films are both autobiographical and geographical. I am a sinner, he tells us; I was that man who took too many drugs in the 1970s; I am America. That's why his films are moral but not preachy, more like self-criticisms with a deep understanding of human weakness.

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Lacks a sense of transcendence and resolution. Belfort was a scumbag and he remains unredeemed at the end, a schmuck with the gift of the gab. His story is neither cathartic nor tragic, because there is no greatness in him. Only greed.Get our free weekly email for all the latest cinematic news from our film critic Clarisse LoughreyGet our The Life Cinematic email for free

Early on in Martin Scorsese's new film, Jordan Belfort (Leonardo DiCaprio) gleefully describes making money as being like mainlining adrenaline. Belfort, the real-life rogue trader who set up pump-and-dump Long Island stockbroking firm Stratton Oakmont, is portrayed here as a reckless hedonist with an appetite for cocaine and hookers.

In theory, Belfort represents the most destructive and obnoxious side of late-20th century American capitalism. His antics in the early 1990s helped to pave the way for the financial crisis of 2008. As his mentor, Mark Hanna (Matthew McConaughey), tells him, We don't create shit, we don't build anything. Belfort is determinedly sexist. He organises dwarf-throwing contests to keep his staff amused. If he has any pity for the investors he rips off, he doesn't show it.

Why

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Nonetheless, as portrayed by DiCaprio, he is a very likable scoundrel. We can't help but root for him. He speaks direct to camera, as if confiding in us. He is witty and self-deprecating. That is what makes Scorsese's raucously enjoyable film so problematic. Its claims as satire are undermined by its obvious sympathy for its protagonist. Belfort is far more charismatic than the dogged, dour FBI agent (Kyle Chandler) on his tail.

Is excessive. Its absurdly long three-hour length is in keeping with the indulgences of its characters. After all, this is no David Lean-like epic. It's a drama about the misdeeds of some sleazy Long Island telephone salesmen that could have been told in half the time.

All Scorsese fans know that the great American director initially intended to become a priest. There are some biblical elements here. Early on, in one of the few scenes actually set on Wall Street, we see Belfort as a young trader having a booze-filled lunch with Hanna. They're in a sleek restaurant high above the city. Hanna (played with sly comic relish by McConaughey) is clearly intended as the devil-like figure, telling his young acolyte what rewards might be his if he follows the paths of corruption. The scene is echoed later on, when Belfort tries to bribe the FBI officer, contrasting the luxuries he enjoys on his yacht with the underpaid drudgery of the officer's life.

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One of the pleasures of the film (albeit probably a dubious one) is its lack of moralising. There is no hypocrisy about Belfort. He doesn't use his vast wealth to invest in the arts or charity and makes no attempts to cast himself as an upstanding citizen.

Style voice-over. Rodrigo Prieto's roaming cinematography also rekindles memories of the director's earlier gangster movies. The screenplay by Terence Winter (with whom Scorsese collaborated on

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) is full of profanity and very witty. Scorsese has enriched the film with bluesy music (including songs by Bo Diddley and John Lee Hooker). He has also given his actors a license to play their roles in a broad, flamboyant fashion.

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The plot ostensibly hinges on Belfort's attempts to smuggle money to Europe, where it will be hidden on his behalf by a suave Swiss banker (Jean Dujardin,

On one level, this is also a buddy story. Belfort's second-in-command, Donnie Azoff (Jonah Hill in a role you could imagine John Belushi playing in an earlier era), features far more prominently than his trophy wife, Naomi (Margot Robbie). Both are equally addicted to Quaaludes. Both are capable of extreme and infantile behaviour. (At one stage, Donnie swallows an errant worker's goldfish.)

In the film's strangest, boldest scene, they pop pills which deprive them of the power of movement and speech. We see Belfort in what he calls his cerebral palsy phase, crawling down the stairs of the country club and driving his car home in erratic fashion. The sequence has a warped, cartoonish feel.

Why Margot Robbie Regretted Wolf Of Wall Street's

I take Quaaludes 10-15 times a day for my back pain. Adderall to stay focused. Xanax to take the edge off, pot to mellow me out, cocaine to wake me back up again, and morphine...Well, because it's awesome

Was

My name is Jordan Belfort, the year I turned 26, I made $49 million, which really pissed me off because it was three shy of a million a week (Leonardo Dicaprio pictured as Belfort in The Wolf of Wall Street)

“I had lots of nicknames: Gordon Gekko, Don Corleone, Kaiser Soze; they even called me the King. But my favourite was the Wolf of Wall Street

The Pink Heeled Shoes Of Naomi Belfort (margot Robbie) In The Wolf Of Wall Street

Money doesn't just buy you a better life, better food, better cars, better p***y – it also makes you a better person(Pictured: Jordan Belfort, the real Wolf of Wall Street)

Act as if! Act as if you're a wealthy man, rich already, and then you'll surely become rich (Pictured: Jordan Belfort, the real Wolf of Wall Street)

Actually is. A female office worker has her head shaved as part of a bet (she wants

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Wolf Of Wall Street Pussy Money Greed Mouse Pad Leonardo