The Queen of Versailles

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.

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.

"The Queen of Versailles" is an extremely unusual documentary, and I can only assume the histrionic nature of the Siegel family is why the film was ever made. It consists of a camera crew following this family (and in particular Jackie and her husband David) during a period which appears to be about two years to three. I honestly cannot expect most families being willing to have their lives chronicled and disrupted like this--particularly because the second half of the film shows the family at their worst. Odd, that's for sure.

When the film begins, David Siegel is an incredibly wealthy man. He's made his fortune with his vast empire of time share properties and because he is so wealthy, he and his wife are in the process of building a new home they nickname 'Versailles'. It is projected to be the largest single family home in America! During most of this period of the film the camera follows Jackie--a woman who seems to love the attention and who lives a charmed life of luxury.

Part-way through the film, however, comes the market and housing crash of 2008. And with it, disposable incomes have diminished--making selling of time shares almost impossible. Additionally, bank financing, which had previously been easy to obtain by David, suddenly evaporated--leaving his heavily leveraged empire on the brink of collapse. During this period of the film, Jackie has come to accept that she WON'T be moving into the new palace--and they might lose their current home as well. She handles this by shopping.

It's rather hard to adequately rate this film. On one hand, the filmmakers have provided a wholly unique film showing these folks--warts and all. And, it is well constructed and compelling. But on the other hand, there really is nothing to like or admire about these folks. Despite their wealth, they seem spiritually impoverished, self-centered and sad...profoundly sad. In fact, after seeing the film, my entire family felt depressed and insisted we watch something uplifting or fun. Seeing this film is anything but fun and it's not even good for someone wanting to laugh at the Siegels. They aren't funny....just profoundly sad. A very sad marriage, spoiled kids, a love of money, looks and possessions...all quite depressing to witness.

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.

This movie was planned to be a documentary about the biggest house in America, but after the crash of 2008 occurred shortly after filming began, the director turned it into a story of the economic collapse. We're familiar with the stories of the many ordinary people who lost their jobs in 2008-09; this film is a story of people who despite being very rich--at least on paper--were also victims although perhaps mostly of their own bad judgment. I expected to hate the Siegels, but I did not. Although they're not people with whom I would want to spend personal time, they come across as merely shallow, immature and maybe even naive people who became addicted to money and spending and suffered the consequences.

The film shows laughable yet slightly shocking scenes of people who equate stuff with happiness and excess with success. "Versailles" is never finished (the house plays a bit part in the movie) but the home they live in is ridiculous in its own way: It's luxurious, but also filthy. Unhousebroken dogs poop all over the place, every room is cluttered, stuff spills out of closets, one daughter is obese and it's obvious the hired help can't keep up.

The movie takes time to give personal histories of both Mr. and Mrs. Siegel and it's easy to see how they turned out the way they did: Mr. Siegel's parents were gamblers, and although they lost their money in Las Vegas and their son became rich, the movie shows how really he is a gambler and big spender as well. Mrs. Siegel is not merely a "trophy wife" although her sexist husband sees her that way; she has an engineering degree and made money as a model before her marriage. Despite her shopping addiction, disorganization and extremely poor housekeeping skills, it's clear she's a savvy survivor who has a tendency to get what she wants. The movie also features some interviews with other family members including two teenage daughters. Their comments are extremely honest, both about their parents and about wealth. The heartbreaking interview, however, is with the Filipina nanny. In her brief tale, she gives a glimpse into Third World poverty that shows how lucky the Siegels really are.

From what I've read the Siegels are back on their feet; like most rich people, they did not suffer in the way that most of us have suffered. Yet it is clear that they did suffer. The film is not judgmental and I have to give the Siegels credit for allowing the filmmaker to film intimate details of their life, giving us a glimpse into the lives of people who are addicted to money and spending. In the end you'll have to judge for yourself if you envy or pity the Siegels. My own take was that their view of life is so foreign to mine that what they would call happiness I would only call boredom.