FBI Unveils Insider-Trading PSA, Starring Michael Douglas

Feb 29 2012 | 4:27am ET

If 57 insider-trading convictions over the past few years isn't enough to convince you not to do it, maybe Gordon Gekko can get the job done.

The Federal Bureau of Investigation, which said this week that it is building insider-trading cases against 120 people, on Monday rolled out a public service announcement starring Michael Douglas (see video below), who played the legendary corporate raider Gekko in the 1987 classic Wall Street, earning an Academy Award for it.

Wall Street ends with Gekko facing likely insider-trading charges—in the 2010 sequel, it's revealed he spent more than a decade in prison on them. But Douglas, who said he became something of a hero among traders after the first movie, warns in the PSA, "The movie was fiction, but the problem is real. If a deal looks too good to be true, it probably is."

The one-minute announcement is currently airing on CNBC and Bloomberg Television, part of the FBI's effort to get its "brand out on Wall Street," Special Agent David Chaves said.

Chaves said Douglas, who filmed the PSA in November, couldn't understand why he was so beloved for a character who was so rotten, most famous for the line, "greed, for lack of a better word, is good."

"I'm a criminal in the movie," Chaves said Douglas told him. "Don't they realize that?"


In Depth

Hedge Fund Selection: Sussex Partners’ Patrick Ghali Bullish On The Best Of The Best

Oct 2 2014 | 5:56am ET

Ten years ago, Patrick Ghali and Robin Nydes co-founded Sussex Partners with the...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.