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ON THE COVER Stone has publicly promised W will be a ''fair, true portrait of the man,'' but already there are those accusing him of the politics of personal destruction — and, worse, of trying to influence the election

Stone has publicly promised W will be a ''fair, true portrait of the man,'' but already there are those accusing him of the politics of personal destruction — and, worse, of trying to influence the election by painting the current Republican administration as reckless doofuses (although presumptive Republican nominee John McCain makes no appearance in the script). Naturally, Stone vehemently denies all charges. ''Bush may turn out to be the worst president in history,'' he declares as he peeks into room after room. ''I think history is going to be very tough on him. But that doesn't mean he isn't a great story. It's almost Capra-esque, the story of a guy who had very limited talents in life, except for the ability to sell himself. The fact that he had to overcome the shadow of his father and the weight of his family name — you have to admire his tenacity. There's almost an Andy Griffith quality to him, from A Face in the Crowd. If Fitzgerald were alive today, he might be writing about him. He's sort of a reverse Gatsby.''

As it happens, Oliver Stone went to school with George W. Bush. They both attended Yale in the mid-1960s — until Stone dropped out and served in Vietnam — although they didn't mix in the same circles. ''If I met him there, I don't remember,'' Stone says. ''But I do remember John Kerry. He was big man on campus, head of the Political Union. I definitely remember him.'' Thirty years later, in 1998, Stone had a closer encounter with then governor Bush at a Republican breakfast. ''I don't usually go to breakfast with anybody,'' he says, ''but I wanted to prove that even though people thought I was a leftist I wanted to hear what they had to say. It was funny, though — the minute I walked in the room the sound of the silverware kind of died. People were like, 'What's he doing here? Satan has walked in.''' He laughs. ''But I met George Bush and I remember thinking that this man was going to be president. There was just a confidence and enthusiasm I'd never seen in a candidate before, especially in a Republican.''

It was another conservative — Bruce Willis — who inadvertently pushed Stone into making W. Originally, the director was planning on spending this spring in the editing room splicing together Pinkville, an ambitious drama about the notorious My Lai massacre of 1968. But last December, three weeks before shooting was set to start in Thailand, Willis pulled out of the film, and a jittery United Artists shut the production down. Suddenly jobless, Stone turned his attention to a scrappier script he and his Wall Street coscribe Stanley Weiser had been working on. Stone concluded that W could be made fast and relatively cheap (for around $30 million), with no need for unpredictable above-the-title stars or difficult international locations (Louisiana tax breaks shaved millions off the budget). ''Some movies are symphonies,'' Stone says. ''This one is a concerto.''

NEXT: What an early script looked like (''Just keep your ego in check,'' Bush snaps at Cheney during one chilly exchange. ''I'm the president. I'm the decider.'')