The Queen of Versailles

As taken as I was with the lessons in Margin Call, a story about a Lehman Bros.-like mortgage brokerage firm in the beginning of the 2008 financial crisis, The Queen of Versailles is more powerful. And it's not about brokers—it's about a family that accepts all that cheap money, buys blindly, and declines maybe even more than the rest of us because it spends more than a small nation could. It's not an American dream; it's a nightmare.

At the beginning of this disturbing documentary, David Siegel owns Westgate Resorts, one of the world's largest timeshare companies. Worth billions, he spends those billions freely, aided by his clueless trophy wife, blonde and buxom beauty-contestant Jackie, who helps him plan the largest single-family home in the USA: 90,000 square feet of Versailles palace imitation—"kitsch" is perhaps the best descriptor.

Slowly director Lauren Greenfield lets the nice David talk about their fortune and the home. At the same time, Jackie has eight children, stating that without nannies she would never have that many. When the market tumbles, the Segals face not finishing their home and severely reducing their lifestyle, but not Jackie's spending or her nannies.

As in any good documentary, the players do all the heavy satirical lifting, in this case Jackie redefines white trash and the much older David clarifies the role men play who indulge their wives as long as they are hot and attentive. "Foolish old man" is an apt cliché for a decent guy who was smart enough to make billions, but not smart enough to avoid cheap money (which his timeshare sales staff sold in abundance itself to reckless, unsophisticated buyers—a sad irony for all involved) and a cheap wife.

As the documentary glides inexorably to its conclusion, we are left with the impression of a decent man who couldn't control his appetites and a Pollyanna wife who couldn't control her spending. Be warned, this is not Inside Job, an insightful documentary about how all of us contributed to the crash; it is rather a depressing insider look at how so many bought into the cheap money trap and could not get out.

My radio co-host and I had to take a half hour to detox from this misery before we could record our show in at least a minimal upbeat manner. The Queen of Versailles is unremittingly gloomy probably because a part of us all is hidden amongst that greed. And yet, it is in the best documentary tradition: truth will out.

You have to laff when the "Queen"--often seemingly desperate to kiss her AH husband into some sort of affectionate submission (she always fails to receive anything other than an aggressively polite peck, which seems more like a 'kiss-off')-- the "Queen" plays the victim card, due to the financial upheaval in 2008. She's truly sickening, despite her "humble" roots. Were these pigs ever in real jeopardy? Well, their "conspicuous consumption, had to be "downsized" from poisonous excess to sheer madness, and meanwhile, the wonderful housekeeper has suffered and struggled to meet her own dreams--and you get the feeling she's cast her lot in with the wrong people. Fascinating and disgusting, see it.

There is a famous, though fictional, exchange in which F. Scott Fitzgerald says "The rich are different from you and I" and Hemingway replies, "Yes, they have more money." That quote suits this film's central character, Jackie, whose tendency towards excess is magnified to an insane level by seemingly limitless wealth.

The movie is about how Jackie, her tycoon husband David and their children and employees deal with a crushing recession that forces them to struggle to live within their means.

Even though they are never broke, they genuinely do struggle because Jackie has satisfied too many whims, filling her house with pets and children and furniture and other things that require servants and lavish spending to keep going.

The movie could easily have caricatured Jackie, whose giant fake breasts and obsessive shopping are qualities that could make her seem white trash, but she comes across as a reasonably intelligent, generally nice person who simply has no concept of "enough." If she were poor she would probably be in debt because she collected memorial plates or something, but because she's rich she has collected everything.

David is less likable, a cold, brusque businessman with a sense of entitlement. As the movie begins he shows overwhelming confidence; it's easy to see how the sort of person who can build up a big business is the sort of person who never has insecure thoughts like, "did my wife marry me for my money." David claims in the movie to have personally made GW Bush president, but even though he expresses doubt about whether that was a good idea, because of the wars that resulted, after this movie came out he threatened his employees with job loss if Obama beat Romney, so I'd say he is as awful as he seems in the movie.

One of the best qualities of this movie is how non-judgmental it is. It shows its characters being both thoughtless and thoughtful and it gives them a chance to represent themselves to the camera; it's a movie that has no interest in being a hatchet job. At the same time, it juxtaposes their problems with those of one of their nanny's, whose situation is far sadder; it also has no interest in being a whitewash.

The even-handedness of this film means you are free to see the characters as you like. Some reviewers here reacted very differently from me, seeing David as a hard working businessman stuck with a white trash gold digger, or seeing them both as odious monsters. If you hate the rich, that will probably be your reaction, but if you *are* the rich, you would probably see this as a reasonable portrayal. In fact, if you're rich enough you probably wouldn't see anything wrong with the way they live. (Rich people are different than you and I; they think living like millionaires is normal.)

Overall this is a very engrossing and admirable film that made me feel some sympathy for people who, in the natural order of things, I would consider leeches on the belly of America.

I knew the back story to "Queen of Versailles" before I saw it, but I wasn't prepared for the extreme revulsion I felt for these characters, particularly David Segal. These folks are poster children for the worst extremes of our materialistic, narcissistic culture. Their values are money, ostentation, self-aggrandizement, acquisition and mindless hedonism. They are venomous leeches on society.

Yet I felt pity for them as well, particularly Jackie. She's something of an enigma. She boasts about getting an engineering degree so she wouldn't have to work as someone's assistant, yet she mostly devotes herself to keeping young-looking and voluptuous (those breasts of hers deserve some sort of special effects award) so she can snag and keep a rich hubby. As her world starts to fall apart around her, she begins to have some insights about what life is really about (not building the world's biggest house), yet still can't abandon her out-of-control shopping sprees or torturous visits to the beauty clinic.

The children, also, seem to be far more aware than their parents of the emptiness and ridiculousness of their lifestyle.

Fortunately, I saw very little of myself in this abhorrent couple, but I did see some similarities to friends and family. Everyone is susceptible to greed and an inflated sense of self. This film shows what happens when that proceeds unchecked and fueled by obscene wealth.

I normally run a mile from real-life documentaries like this but ghoulishly fascinated by the story-line here, I found myself rubber-necking this car-crash of a family saga from start to finish. An allegory of the burst bubble of the latter-day "greed is good" dynasty, we follow the progress of billionaire David Siegel's self-confessed riches to rags story as he and his sprawling, dysfunctional family struggle to adjust to rain after the sunshine years as his billion-dollar timeshare empire crumbles as the credit crunch bites.

So, instead of the no doubt originally intended homage to Mammon, as Siegel and his plastic, boob-enhanced ex-Mrs America "trophy-wife" (named as such by her own daughter!) airily plan to build the biggest private house in America (going from a mere 18 to 30 bathrooms in the process), we get a much darker tale, as Siegel retreats away in his dressing-gown from his young family into his den, desperately making calls which he hopes will return his opulent lifestyle to him and his family.

His wife, Jacqueline, the erstwhile title character of the movie is similarly seen changing from boasting about wearing ostrich-feather Gucci pants to suffering her husband's testiness over leaving too many house-lights on, while still undergoing her periodic face-peel and Botox injections, hardening her face into a mask, ill-serving the emotional traumas she's obviously experiencing.

As a modern-day morality tale on the old maxim of be careful what you wish for, it could hardly be bettered as not one of "David's Friends", prominently pictured in his household come to his rescue as his business empire crumbles and leaves his prestigious West Gates luxury building in Las Vegas as another white elephant totem to excess.

As usual with American documentaries like this, it's hard to take your eyes off the mess you're witnessing. The film doesn't seek to pity the family's plight but does inadvertently lampoon its subject although it has to be said most of the damage is self-inflicted.

Proof, if it were still needed, that pride surely comes before a fall, although here the fall is cliff-sized.