Gordon Gekko (Michael Douglas) no longer rules Wall Street, but once out of prison, he attempts to reestablish himself. He is the author of a book, Is Greed Good?, warning of impending doom in the world he knows so well. He is also desperate to be reunited with his daughter Winnie (Carey Mulligan), who will have nothing to do with him.
She is a liberal blogger and social activist, totally at loggerheads with her corrupt father. She hates everything he stands for. Winnie, however, is actually engaged to a Wall Street trader, Jake Moore (Shia LaBeouf). But Moore is a principled idealist and environmentalist, in contrast to the self-serving Gekko. (At least the Gekko we remember from Wall Street). When Jake becomes embroiled with Gekko and goes to work for heavy-hitting investment banker and billionaire Bretton James (Josh Brolin), the drama intensifies.
It was back in 1987 that Oliver Stone’s Wall Street led to a Best Actor Oscar for Michael Douglas in his memorable role as Gordon Gekko. Ruthless, amoral and opportunistic, he was ultimately found guilty of a range of crimes from fraud to racketeering. The continued relevance of the subject matter in the highly anticipated sequel, Wall Street: Money Never Sleeps, also directed by Stone, is obvious in the light of the current global economic crisis, with all its repercussions and ramifications. The film takes on an uncanny resonance, focusing on Main Street, as well as Wall Street.
Watching Douglas in action as his iconic character holds court is fascinating. Years have past but Gekko still looks good; his gray hair swept back off his face, he still has the swagger and still possesses the dangerous charm and brilliance that captivated audiences in the original film, so much so that young graduates entering finance were actually inspired by him. Many cited the indelible character as the principle reason for choosing financial careers. And that’s despite—or perhaps even because of—those unforgettable catch phrases: “Greed is good”, “lunch is for wimps”.
Also starring in the new film are Frank Langella and Susan Sarandon, while Charlie Sheen, who starred in the original Wall Street, is back in a cameo as Bud Fox.
Douglas was already a successful actor when he produced the 1975 Oscar-winning film One Flew Over the Cuckoo’s Nest, together with Saul Zaentz. It went on to win Oscars for Best Picture, Best Director, Best Actor and Best Actress, as well as Best Screenplay. Douglas’s many accomplishments as an actor include the Best Actor Oscar for Wall Street. The son of Kirk Douglas and Diana Douglas, he began his career in theater.
In 1988 Secretary-General Kofi Annan named Douglas a Messenger of Peace for the United Nations, concentrating on the reduction of nuclear proliferation and the control of small arms. In 2004 Douglas was honored with the Cecil B. DeMille Award from the Hollywood Foreign Press Association. He was also honored with both the Producers Guild Award and the American Film Institute’s Lifetime Achievement Award. He is married to actress Catherine Zeta-Jones. They have a son, Dylan, and a daughter, Carys. Douglas also has a son, Cameron, from a former marriage.
The actor sat down for the following interview on the Manhattan set of Wall Street: Money Never Sleeps.
What is it like to return to Gordon Gekko, which is such an iconic character?
It is all positive; it keeps everything in perspective and forces you to look back to that time 23 years ago when we made the original movie. Wall Street was a very important movie for me in terms of my career. I won an Oscar, and then the film Fatal Attraction came right after it. Wall Street changed my acting career. I had been better known as a producer before that film. Making this film and returning to the character of Gordon Gekko is interesting historically because of what’s happened economically in the world markets. It really gives you food for thought.
Even though you played a villain, many young guys in finance looked up to Gekko. They almost idolized him. Did that surprise you?
Well, I was always shocked when so many people who saw Wall Street said that I (Gekko) was the person who influenced them and inspired them to go into investment banking. I’d say to people, “Well, I was the villain” and they would say, “No, no, no,” they didn’t see me that way, so it was all very seductive I guess.
Could you explain how your character has changed over the last 20 or so years, being in prison?
Well, I’ve been sworn by Oliver to keep all of this relatively secret but I can say that it is a question of whether a leopard can change his spots. Gekko went away to jail for eight years and in this scene we are filming right now, he is talking about how his sentence gave him the time to think. Now that he is no longer allowed to trade, he says he can have a little more perspective on everything. I’m reluctant to tell you where he goes or what happens but I think the question is whether Gordon has turned over a new leaf. After his years in prison, has he been reincarnated or changed at all? My role in the film is to convince the audience, or have them believe that I have changed my ways. Whether I have or not—you will have to see the movie.
Has your relationship with Oliver Stone changed over the years?
It has changed because I’m in a very different position from where I was in before. I can take his abuse much better now. (Laughs) He’s a tough guy, very talented; he has great respect for actors, but he’s definitely tough. I think the fact that he is a Vietnam veteran has had an effect on him and means that he likes everybody to be able to be in the trenches with him and work as hard as he does. He wants to be able to trust everybody to be in the trenches. In the earlier film, I was probably more easily intimidated by Oliver and in this one, I personally think he needs a sounding board. I think Josh and I are the only actors who have done multiple pictures with him and are able to give back as much as he gives. We are a complementary match for him.
What’s really changed on Wall Street since the last movie was made?
The proportions and circumstances in the financial world are like night and day in terms of the statistics that we were talking about back then and the kind of corruption that existed at the time. Now it involves the whole banking industry. They are just as big of thieves as the hedge-fund guys were.
So there is really no comparison?
The numbers that we’re talking about now are staggering, as well as the chicanery and trickery, which are much more sophisticated than what existed back then. It is quite manipulative and quite scary when you see how fast things can change. I think Oliver’s done a really good job with Money Never Sleeps in terms of capturing the kind of intrigue that goes on. It’s almost like a Greek tragedy or a Shakespearean play. And I think we have devised a pretty intricate network of relationships between Shia, who may be my future son-in-law in the movie; Josh Brolin, who is his mentor and boss; and my daughter, who is played by Carey Mulligan.
Did you look back at the first movie before you got started on this one?
No, I never really look at my movies. I love making movies and I was very happy to make this one, but I do not need to review films.
How did you react to what happened in the market; for example, the Bernie Madoff Ponzi scheme scandal?
I guess, in general, it doesn’t particularly surprise me except with that particular scam, the size and the scope and the incompetence of the SEC (US Securities and Exchange Commission) was pretty staggering. You look at this guy who is literally waiting to be caught and they never came after him. Personally, I do know a number of people who just lost everything in the crisis and that whole sense of losing confidence is terrible. It’s so difficult now to borrow money from a bank. On the other hand, the banks are taking your money and they’re borrowing and making tremendous investments. It is really the phenomenon of banks that got jealous of hedge funds and started saying, “Well, why can’t we make the same kind of returns that they are making?” We’ll see the end of it. Obviously, there are more restrictions that have now been imposed.
Were you hit yourself, along with everyone else?
Oh yeah, I got whacked big time. (Laughs)
Is it true that villains like Gekko, even though he’s supposedly reformed, are more fun to play than the good guys?
Yes, because as an audience we all vicariously live through villains. They behave in ways that we only fantasize about and never really do. Well, most of us. (Laughs)
