Quoted: Gordon Gekko cooperates with the FBI

“In the movie ‘Wall Street’ I play Gordon Gekko, a greedy corporate executive who cheated to profit while innocent investors lost their savings. The movie was fiction, but the problem is real.”

— Actor Michael Douglas does a public service announcement for the FBI, which is stepping up its push against insider trading. The FBI announced Monday it is building cases against about 120 people, in an offshoot of the Galleon Group investigation. The Galleon investigation has shaken up the business world with more than 50 convictions — including that of Galleon founder Raj Rajaratnam, who last year was sentenced to 11 years in prison, and dozens of charges related to insider trading, some involving Silicon Valley companies. For example, a Menlo Park hedge-fund manager was charged earlier this month with making $900,000 on illegal trades in Google and other companies. When the FBI decided it wanted to publicize its efforts in hopes of inspiring potential tipsters from the real Wall Street, a special agent said he “thought there was only one person to do it,” according to the New York Times. Douglas reportedly lamented some people’s deification of his character, Gekko, who did time in prison for insider trading. Douglas was not paid for the PSA.

 
 

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  • Douglas is a putz. Like he really needs to disassociate himself from Gekko. Sorry, Michael – you are Gordon Gekko, and quite convincing at that.

 
 
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